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Stock and Stock-Based Incentive Plans Stock And Stock-Based Incentive Plans
 6 Months Ended
Aug. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Stock and Stock-Based Incentive Plans Stock and Stock-Based Incentive Plans
 
(A) Share Repurchase Program
As of August 31, 2021, a total of $2.0 billion of board authorizations for repurchases of our common stock was outstanding, with no expiration date, of which $991.5 million remained available for repurchase.  

Common Stock Repurchases
 Three Months EndedSix Months Ended
 August 31August 31
 2021202020212020
Number of shares repurchased (in thousands)
1,754.1 — 2,751.7 515.5 
Average cost per share$125.44 $— $125.22 $78.96 
Available for repurchase, as of end of period (in millions)
$991.5 $1,511.6 $991.5 $1,511.6 

(B)Share-Based Compensation

Composition of Share-Based Compensation Expense
 Three Months EndedSix Months Ended
 August 31August 31
(In thousands)2021202020212020
Cost of sales$2,094 $2,512 $3,823 $3,191 
CarMax Auto Finance income1,481 1,542 3,189 2,812 
Selling, general and administrative expenses28,705 34,301 67,125 57,952 
Share-based compensation expense, before income taxes$32,280 $38,355 $74,137 $63,955 

Composition of Share-Based Compensation Expense – By Grant Type
 Three Months EndedSix Months Ended
 August 31August 31
(In thousands)2021202020212020
Nonqualified stock options$7,708 $6,988 $19,529 $18,607 
Cash-settled restricted stock units (RSUs)17,590 25,169 38,562 32,574 
Stock-settled market stock units (MSUs)3,244 3,509 8,089 9,355 
Other share-based incentives:
Stock-settled performance stock units (PSUs)976 113 4,370 266 
Restricted stock (RSAs)263 33 305 67 
Stock-settled deferred stock units (DSUs)1,925 1,925 1,925 1,925 
Employee stock purchase plan574 618 1,357 1,161 
Total other share-based incentives$3,738 $2,689 $7,957 $3,419 
Share-based compensation expense, before income taxes$32,280 $38,355 $74,137 $63,955 
(C) Stock Incentive Plan Information

Share/Unit Activity
Six Months Ended August 31, 2021
Equity ClassifiedLiability Classified
(Shares/units in thousands)OptionsMSUsOtherRSUs
Outstanding as of February 28, 20216,266 520 84 1,606 
Granted918 81 89 362 
Exercised or vested and converted(996)(196)(2)(711)
Cancelled(36)(4)— (53)
Outstanding as of August 31, 20216,152 401 171 1,204 
Weighted average grant date fair value per share/unit:
Granted$42.33 $178.30 $132.96 $136.93 
Ending outstanding$23.54 $112.07 $108.48 $93.04 
As of August 31, 2021
Unrecognized compensation (in millions)$62.4 $20.6 $6.1