CarMax 2016 Annual Report Download - page 13
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bargaining agreement. We focus on developing our associates and providing them with the information and resources they need
to offer exceptional customer service and have been recognized for the success of our efforts by a number of external organizations.
Intellectual Property
Our brand image is a critical element of our business strategy. Our principal trademarks, including CarMax and the related family
of marks, have been registered with the U.S. Patent and Trademark Office.
Laws and Regulations
Vehicle Dealer and Other Laws and Regulations. We operate in a highly regulated industry. In every state in which we operate,
we must obtain licenses and permits to conduct business, including dealer, service, sales and finance licenses issued by state and
local regulatory authorities. A wide range of federal, state and local laws and regulations govern the manner in which we conduct
business, including advertising, sales, financing and employment practices. These laws include consumer protection laws and
privacy laws, as well as other laws and regulations applicable to new and used motor vehicle dealers. These laws also include
federal and state wage-hour, anti-discrimination and other employment practices laws. Our financing activities with customers
are subject to federal truth-in-lending, consumer leasing, equal credit opportunity and fair credit reporting laws and regulations,
as well as state and local motor vehicle finance, collection, repossession and installment finance laws. Our activities are subject
to enforcement by the Federal Trade Commission and other federal and state regulators, and our financing activities are also subject
to enforcement by the Consumer Financial Protection Bureau.
Claims arising out of actual or alleged violations of law could be asserted against us by individuals or governmental authorities
and could expose us to significant damages or other penalties, including revocation or suspension of the licenses necessary to
conduct business and fines.
Environmental Laws and Regulations. We are subject to a variety of federal, state and local laws and regulations that pertain to
the environment. Our business involves the use, handling and disposal of hazardous materials and wastes, including motor oil,
gasoline, solvents, lubricants, paints and other substances. We are subject to compliance with regulations concerning, among other
things, the operation of underground and above-ground gasoline storage tanks, gasoline dispensing equipment, above-ground oil
tanks and automotive paint booths.
Financial Information
For financial information on our segments, see Item 6. Selected Financial Data, Item 7. Management’s Discussion and Analysis
of Financial Condition and Results of Operations and Item 8. Consolidated Financial Statements and Supplemental Data of this
Annual Report on Form 10-K.
AVAILABILITY OF REPORTS AND OTHER INFORMATION
The following items are available free of charge through the “Corporate Governance” link on our investor information home page
at investors.carmax.com, shortly after we file them with, or furnish them to, the Securities and Exchange Commission (the “SEC”):
annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements on Schedule 14A,
and any amendments to those reports. The following documents are also available free of charge on our website: Corporate
Governance Guidelines, Code of Business Conduct, and the charters of the Audit, Nominating and Governance, and Compensation
and Personnel Committees. We publish any changes to these documents on our website. We also promptly disclose reportable
waivers of the Code of Business Conduct on our website. The contents of our website are not, however, part of this report.
Printed copies of these documents are also available to any shareholder, without charge, upon written request to our corporate
secretary at the address set forth on the cover page of this report.