---
schema_version: "secwatch.filing_event.v1"
accession: "0001170010-21-000185"
form_type: "8-K"
ticker: "KMX"
cik: "0001170010"
company_name: "CARMAX INC"
filed_at: "2021-11-15T23:59:59+00:00"
generated_at: "2026-06-28T08:10:10.195621+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "medium"
source: SEC EDGAR
---

# CarMax: CAF portfolio delinquencies, net losses rose in Oct due to servicing system transition

## Summary
- Delinquencies and net losses increased in October 2021, primarily from transition to new servicing systems.
- Systems upgrade required planned downtime, pausing repossessions for weeks, and required associate training.
- Company expects impact on delinquencies and net losses to normalize over coming months as backlog is processed.

## SEC filing metadata
- accession: 0001170010-21-000185
- form_type: 8-K
- ticker: KMX
- cik: 0001170010
- company_name: CARMAX INC
- filed_at: 2021-11-15T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: medium
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1170010/000117001021000185/0001170010-21-000185-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1170010/000117001021000185/kmx-20211115.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001170010-21-000185
- JSON: https://secwatch.observer/filing/0001170010-21-000185.json
- Plain text: https://secwatch.observer/filing/0001170010-21-000185.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.