Accumulated Other Comprehensive Loss

6 Months Ended

Aug. 31, 2020

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Changes in Accumulated Other Comprehensive Loss By Component

					Total
	Net		Net		Accumulated
	Unrecognized		Unrecognized		Other
	Actuarial		Hedge		Comprehensive
(In thousands, net of income taxes)	Losses		Losses		Loss
Balance as of February 29, 2020	$	(121,302)	$	(28,769)	$	(150,071)
Other comprehensive loss before reclassifications	—		(18,229)		(18,229)
Amounts reclassified from accumulated other comprehensive loss	1,456		6,418		7,874
Other comprehensive income (loss)	1,456		(11,811)		(10,355)
Balance as of August 31, 2020	$	(119,846)	$	(40,580)	$	(160,426)

Changes In and Reclassifications Out of Accumulated Other Comprehensive Loss

	Three Months Ended August 31				Six Months Ended August 31
(In thousands)	2020		2019		2020		2019
Retirement Benefit Plans:
Actuarial loss amortization reclassifications recognized in net pension expense:
Cost of sales	$	437	$	201	$	810	$	398
CarMax Auto Finance income	25		12		56		24
Selling, general and administrative expenses	498		256		1,053		515
Total amortization reclassifications recognized in net pension expense	960		469		1,919		937
Tax expense	(232)		(113)		(463)		(226)
Amortization reclassifications recognized in net pension expense, net of tax	728		356		1,456		711
Net change in retirement benefit plan unrecognized actuarial losses, net of tax	728		356		1,456		711
Cash Flow Hedges (Note 5):
Changes in fair value	79		(15,431)		(24,783)		(33,373)
Tax (expense) benefit	(21)		4,077		6,554		8,819
Changes in fair value, net of tax	58		(11,354)		(18,229)		(24,554)
Reclassifications to CarMax Auto Finance income	5,701		780		8,726		303
Tax expense	(1,508)		(206)		(2,308)		(80)
Reclassification of hedge losses, net of tax	4,193		574		6,418		223
Net change in cash flow hedge unrecognized losses, net of tax	4,251		(10,780)		(11,811)		(24,331)
Total other comprehensive income (loss), net of tax	$	4,979	$	(10,424)	$	(10,355)	$	(23,620)

Changes in the funded status of our retirement plans and 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 $52.6 million as of August 31, 2020 and $48.8 million as of February 29, 2020.