2021 Q3 Form 10-Q Financial Statement

#000117001021000179 Filed on October 01, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $7.988B $5.372B
YoY Change 48.7% 3.29%
Cost Of Revenue $7.173B $4.620B
YoY Change 55.26% 2.49%
Gross Profit $815.5M $752.1M
YoY Change 8.42% 8.46%
Gross Profit Margin 10.21% 14.0%
Selling, General & Admin $574.3M $441.9M
YoY Change 29.95% -8.09%
% of Gross Profit 70.42% 58.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $66.94M $60.70M
YoY Change 10.29% 16.73%
% of Gross Profit 8.21% 8.07%
Operating Expenses $574.3M $441.9M
YoY Change 29.95% -8.09%
Operating Profit $241.2M $310.2M
YoY Change -22.25% 45.9%
Interest Expense $22.41M $22.47M
YoY Change -0.26% 6.62%
% of Operating Profit 9.29% 7.24%
Other Income/Expense, Net $1.782M $1.680M
YoY Change 6.07% -1274.83%
Pretax Income $367.8M $388.3M
YoY Change -5.29% 27.1%
Income Tax $82.55M $91.65M
% Of Pretax Income 22.44% 23.6%
Net Earnings $285.3M $296.7M
YoY Change -3.85% 27.01%
Net Earnings / Revenue 3.57% 5.52%
Basic Earnings Per Share $1.75 $1.82
Diluted Earnings Per Share $1.72 $1.79
COMMON SHARES
Basic Shares Outstanding 163.0M shares 163.4M shares
Diluted Shares Outstanding 165.6M shares 165.6M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.10M $712.0M
YoY Change -91.84% 1636.59%
Cash & Equivalents $58.10M $711.6M
Short-Term Investments
Other Short-Term Assets $119.9M $67.31M
YoY Change 78.16% -41.46%
Inventory $4.105B $2.825B
Prepaid Expenses
Receivables $517.3M $203.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.371B $4.328B
YoY Change 24.11% 27.86%
LONG-TERM ASSETS
Property, Plant & Equipment $3.129B $3.045B
YoY Change 2.76% 2.13%
Goodwill $150.3M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $475.6M $282.7M
YoY Change 68.26% 52.3%
Total Long-Term Assets $19.08B $16.92B
YoY Change 12.79% 0.97%
TOTAL ASSETS
Total Short-Term Assets $5.371B $4.328B
Total Long-Term Assets $19.08B $16.92B
Total Assets $24.45B $21.25B
YoY Change 15.09% 5.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $903.8M $683.7M
YoY Change 32.2% 8.78%
Accrued Expenses $487.8M $350.2M
YoY Change 39.29% 16.15%
Deferred Revenue
YoY Change
Short-Term Debt $167.0K $1.000M
YoY Change -83.3% 0.0%
Long-Term Debt Due $10.56M $10.01M
YoY Change 5.57% -7.03%
Total Short-Term Liabilities $1.959B $1.599B
YoY Change 22.52% 14.48%
LONG-TERM LIABILITIES
Long-Term Debt $16.76B $14.89B
YoY Change 12.56% 3.0%
Other Long-Term Liabilities $410.8M $431.9M
YoY Change -4.9% 44.35%
Total Long-Term Liabilities $410.8M $431.9M
YoY Change -4.9% 44.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.959B $1.599B
Total Long-Term Liabilities $410.8M $431.9M
Total Liabilities $19.54B $17.26B
YoY Change 13.17% 4.45%
SHAREHOLDERS EQUITY
Retained Earnings $3.293B $2.601B
YoY Change 26.63% 12.7%
Common Stock $81.24M $82.08M
YoY Change -1.03% -0.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.915B $3.983B
YoY Change
Total Liabilities & Shareholders Equity $24.45B $21.25B
YoY Change 15.09% 5.49%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $285.3M $296.7M
YoY Change -3.85% 27.01%
Depreciation, Depletion And Amortization $66.94M $60.70M
YoY Change 10.29% 16.73%
Cash From Operating Activities -$1.273B -$359.8M
YoY Change 253.93% 113.28%
INVESTING ACTIVITIES
Capital Expenditures -$78.69M -$29.10M
YoY Change 170.42% -68.47%
Acquisitions
YoY Change
Other Investing Activities -$238.4M $1.800M
YoY Change -13344.44% -550.0%
Cash From Investing Activities -$317.1M -$27.30M
YoY Change 1061.51% -70.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.294B 493.7M
YoY Change 162.12% 85.81%
NET CHANGE
Cash From Operating Activities -1.273B -359.8M
Cash From Investing Activities -317.1M -27.30M
Cash From Financing Activities 1.294B 493.7M
Net Change In Cash -296.5M 106.6M
YoY Change -378.11% 2438.1%
FREE CASH FLOW
Cash From Operating Activities -$1.273B -$359.8M
Capital Expenditures -$78.69M -$29.10M
Free Cash Flow -$1.195B -$330.7M
YoY Change 261.28% 332.85%

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us-gaap Nature Of Operations
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Business. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">CarMax, Inc. (“we,” “our,” “us,” “CarMax” and “the company”), including its wholly owned subsidiaries, is the nation’s largest and most profitable retailer of used vehicles. We operate in two reportable segments:  CarMax Sales Operations and CarMax Auto Finance (“CAF”).  Our CarMax Sales Operations segment consists of all aspects of our auto merchandising and service operations, excluding financing provided by CAF.  Our CAF segment consists solely of our own finance operation that provides financing to customers buying retail vehicles from CarMax. On June 1, 2021, we completed the acquisition of Edmunds Holding Company (“Edmunds”), which does not meet the quantitative thresholds to be considered a reportable segment.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">See Note 17 for additional information on our reportable segments and Note 2 for additional information regarding our acquisition of Edmunds.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We deliver an unrivaled customer experience by offering a broad selection of quality used vehicles and related products and services at competitive, no-haggle prices using a customer-friendly sales process.  Our omni-channel platform, which gives us the largest addressable market in the used car industry, empowers our retail customers to buy a car on their terms – online, in-store or a seamless combination of both. Customers can choose to complete the car-buying experience in-person at one of our stores; or buy the car online and receive delivery through contactless curbside pickup, available nationwide, or home delivery, available to most customers. We offer customers a range of related products and services, including the appraisal and purchase of vehicles directly from consumers; the financing of retail vehicle purchases through CAF and third-party finance providers; the sale of extended protection plan (“EPP”) products, which include extended service plans (“ESPs”) and guaranteed asset protection (“GAP”); and vehicle repair service.  Vehicles purchased through the appraisal process that do not meet our retail standards are sold to licensed dealers through on-site or virtual wholesale auctions.</span></div>
us-gaap Number Of Reportable Segments
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us-gaap Basis Of Accounting
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation and Use of Estimates. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying interim unaudited consolidated financial statements include the accounts of CarMax and our wholly owned subsidiaries.  All significant intercompany balances and transactions have been eliminated in consolidation.  These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, such interim consolidated financial statements reflect all normal recurring adjustments considered necessary to present fairly the financial position and the results of operations and cash flows for the interim periods presented.  The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full fiscal year.  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting policies followed in the presentation of our interim financial results are consistent with those included in the company’s Annual Report on Form 10-K for the fiscal year ended February 28, 2021 (the “2021 Annual Report”), with the exception of those related to recent accounting pronouncements adopted in the current fiscal year. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in our 2021 Annual Report.</span></div>
us-gaap Use Of Estimates
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The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities.  Actual results could differ from those estimates.  In particular, the novel coronavirus (“COVID-19”) pandemic continues to have an adverse impact on global economic conditions and may impact future estimates including, but not limited to, our allowance for loan losses, inventory valuations, fair value measurements, downward adjustments to investments in equity securities, asset impairment charges, the effectiveness of the company’s hedging instruments, deferred tax valuation allowances, cancellation reserves, actuarial losses on our retirement benefit plans and discount rate assumptions. Depreciation and amortization previously included in selling, general, and administrative expenses is now separately presented on the consolidated statements of earnings. Prior period amounts have been reclassified to conform to the current period’s presentation. Depreciation and amortization related to other areas of our business, including cost of sales and CAF, is included in its respective line item on the consolidated statements of earnings. Certain other prior year amounts have been reclassified to conform to the current year’s presentation.  Amounts and percentages may not total due to rounding.
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CY2021Q1 us-gaap Other Receivables
OtherReceivables
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CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
398100000 USD
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
411100000 USD
CY2021Q3 us-gaap Notes Receivable Net
NotesReceivableNet
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CY2021Q1 us-gaap Notes Receivable Net
NotesReceivableNet
13489800000 USD
CY2021Q3 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
4488000000 USD
CY2021Q3 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
3192800000 USD
CY2021Q3 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
1714800000 USD
CY2021Q3 us-gaap Financing Receivable Originated Four Years Before Latest Fiscal Year
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805300000 USD
CY2021Q3 us-gaap Financing Receivable Originated Five Or More Years Before Latest Fiscal Year
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286800000 USD
CY2021Q3 us-gaap Notes Receivable Gross
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14984400000 USD
CY2021Q3 kmx Total Ending Managed Receivables As Percentage By Major Credit Grade
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1.000
CY2021Q1 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
5561700000 USD
CY2021Q1 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
4112600000 USD
CY2021Q1 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
2337200000 USD
CY2021Q1 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
1226900000 USD
CY2021Q1 us-gaap Financing Receivable Originated Four Years Before Latest Fiscal Year
FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
494900000 USD
CY2021Q1 us-gaap Financing Receivable Originated Five Or More Years Before Latest Fiscal Year
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113900000 USD
CY2021Q1 us-gaap Notes Receivable Gross
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CY2021Q1 kmx Total Ending Managed Receivables As Percentage By Major Credit Grade
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1.000
CY2021Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
411100000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
157800000 USD
CY2021Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
379500000 USD
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
437200000 USD
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
411100000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
359800000 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
43700000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
53900000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
85500000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
124600000 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
26800000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
23200000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
61400000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
49300000 USD
CY2021Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
35500000 USD
CY2020Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
26000000.0 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
11100000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
148000000.0 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
398100000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
432500000 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
398100000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
432500000 USD
us-gaap Allowance For Loan And Lease Losses Period Increase Decrease
AllowanceForLoanAndLeaseLossesPeriodIncreaseDecrease
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CY2021Q3 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
14576200000 USD
CY2021Q3 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
408200000 USD
CY2021Q3 kmx Past Due Receivables As Percentage Of Total Ending Managed Receivables
PastDueReceivablesAsPercentageOfTotalEndingManagedReceivables
0.0272
CY2021Q3 us-gaap Notes Receivable Gross
NotesReceivableGross
14984400000 USD
CY2021Q1 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
13454700000 USD
CY2021Q1 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
392500000 USD
CY2021Q1 kmx Past Due Receivables As Percentage Of Total Ending Managed Receivables
PastDueReceivablesAsPercentageOfTotalEndingManagedReceivables
0.0283
CY2021Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
13847200000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
722607000 USD
CY2021Q3 us-gaap Trading Securities
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25428000 USD
CY2021Q3 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
24177000 USD
CY2021Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
772589000 USD
CY2021Q3 kmx Item As Percentage Of Total Assets At Fair Value
ItemAsPercentageOfTotalAssetsAtFairValue
1.000
CY2021Q3 kmx Item As Percentage Of Total Assets
ItemAsPercentageOfTotalAssets
0.032
CY2021Q3 us-gaap Liabilities Fair Value Disclosure
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6695000 USD
CY2021Q3 kmx Item As Percentage Of Total Liabilities
ItemAsPercentageOfTotalLiabilities
0
CY2021Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
685585000 USD
CY2021Q1 us-gaap Trading Securities
TradingSecurities
24049000 USD
CY2021Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
714196000 USD
CY2021Q1 kmx Item As Percentage Of Total Assets At Fair Value
ItemAsPercentageOfTotalAssetsAtFairValue
1.000
CY2021Q1 kmx Item As Percentage Of Total Assets
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0.033
CY2021Q1 us-gaap Liabilities Fair Value Disclosure
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6024000 USD
CY2021Q1 kmx Item As Percentage Of Total Liabilities
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0
CY2021Q3 us-gaap Senior Notes
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500000000 USD
CY2021Q1 us-gaap Senior Notes
SeniorNotes
500000000 USD
CY2021Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
556528000 USD
CY2021Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
556993000 USD
CY2021Q2 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
138400000 USD
CY2020Q2 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
116700000 USD
CY2021Q1 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
124500000 USD
CY2020Q1 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
117900000 USD
CY2021Q3 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
22900000 USD
CY2020Q3 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
16100000 USD
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
43100000 USD
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
30900000 USD
CY2021Q3 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
28800000 USD
CY2020Q3 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
22000000.0 USD
us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
62900000 USD
us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
35600000 USD
CY2021Q3 us-gaap Valuation Allowances And Reserves Balance
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144300000 USD
CY2020Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
122600000 USD
CY2021Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
144300000 USD
CY2020Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
122600000 USD
CY2021Q3 kmx Cancellation Reserves Current Portion
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76000000 USD
CY2021Q1 kmx Cancellation Reserves Current Portion
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58700000 USD
CY2021Q3 us-gaap Unrecognized Tax Benefits
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29000000 USD
us-gaap Interest Paid Capitalized
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1400000 USD
CY2021Q3 kmx Financing Obligations
FinancingObligations
529573000 USD
CY2021Q1 kmx Financing Obligations
FinancingObligations
533578000 USD
CY2021Q3 us-gaap Non Recourse Debt
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14977290000 USD
CY2021Q1 us-gaap Non Recourse Debt
NonRecourseDebt
13764808000 USD
CY2021Q3 us-gaap Debt Longterm And Shortterm Combined Amount
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17179530000 USD
CY2021Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
15098386000 USD
CY2021Q3 us-gaap Debt Current
DebtCurrent
523244000 USD
CY2021Q1 us-gaap Debt Current
DebtCurrent
452579000 USD
CY2021Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
26171000 USD
CY2021Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
25888000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
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CY2021Q1 us-gaap Long Term Debt
LongTermDebt
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CY2021Q3 us-gaap Non Recourse Debt
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14980000000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
3500000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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32280000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
38355000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
74137000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
63955000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32280000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
38355000 USD
CY2020Q3 us-gaap Earnings Per Share Basic
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1.82
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.43
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
74137000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
63955000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6266000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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918000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
36000 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6152000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
42.33
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
23.54
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
62400000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
285267000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
296696000 USD
us-gaap Net Income Loss
NetIncomeLoss
722023000 USD
us-gaap Net Income Loss
NetIncomeLoss
301674000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
162966000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
163434000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
163058000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
163053000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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165643000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
165623000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
165969000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
164580000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
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1.75
us-gaap Earnings Per Share Basic
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1.85
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.72
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.79
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.83
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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912093 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29200 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600617 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2061194 shares
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1968000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-8316000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
6348000 USD
CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-868000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-960000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-1736000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-1919000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-210000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-232000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-419000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-463000 USD
CY2021Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-658000 USD
CY2020Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-728000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-1317000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-1456000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-658000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-728000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1317000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1456000 USD
CY2021Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-665000 USD
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
79000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-2671000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-24783000 USD
CY2021Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-175000 USD
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
21000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-703000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-6554000 USD
CY2021Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-490000 USD
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
58000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1968000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-18229000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-4401000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-5701000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-9499000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-8726000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
-1158000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
-1508000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
-2500000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
-2308000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-3243000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-4193000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-6999000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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935138000 USD

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