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Accumulated Other Comprehensive Loss
 6 Months Ended
Aug. 31, 2012
Accumulated Other Comprehensive Loss [Abstract]  
Accumulated Other Comprehensive Loss

12.  Accumulated Other Comprehensive Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

Unrecognized

 

 

 

 

 

Other

 

 

Actuarial

 

Unrecognized

 

Comprehensive

(In thousands, net of income taxes)

 

(Losses) Gains

 

Hedge Losses

 

Loss

Balance as of February 29, 2012

 

$
(39,774)

 

 

$
(22,685)

 

 

$
(62,459)

 

Amortization recognized in net pension expense

 

 
449 

 

 

 

 

 

 

 
449 

 

Effective portion of changes in fair value

 

 

 

 

 

 
4,634 

 

 

 
4,634 

 

Reclassifications to CarMax Auto Finance income

 

 

 

 

 

 
3,965 

 

 

 
3,965 

 

Balance as of August 31, 2012

 

$
(39,325)

 

 

$
(14,086)

 

 

$
(53,411)

 

 

Changes in the funded status of our retirement plans and the effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges are recognized in accumulated other comprehensive loss.  The cumulative balances are net of deferred taxes of $32.3 million as of August 31, 2012, and $24.0 million as of February 29, 2012.  In the second quarter of fiscal 2013, a $8.5 million tax benefit adjustment related to prior years was made to the effective portion of changes in fair value and a $1.3 million tax provision adjustment related to the first quarter of fiscal 2013 was made to the reclassifications to CarMax Auto Finance income.  The adjustments are not considered material to any of the periods presented.