secwatch.observer — SEC 8-K summary
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Issuer:     CARMAX INC (KMX)
CIK:        0001170010
Form:       8-K
Filed at:   2021-11-15T23:59:59+00:00
Accession:  0001170010-21-000185
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1170010/000117001021000185/0001170010-21-000185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1170010/000117001021000185/kmx-20211115.htm
  HTML page:      https://secwatch.observer/filing/0001170010-21-000185

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