Accumulated Other Comprehensive Loss

9 Months Ended

Nov. 30, 2021

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 28, 2021	$	(92,662)	$	(26,029)	$	(118,691)
Other comprehensive income before reclassifications	—		6,386		6,386
Amounts reclassified from accumulated other comprehensive loss	1,976		10,028		12,004
Other comprehensive income	1,976		16,414		18,390
Balance as of November 30, 2021	$	(90,686)	$	(9,615)	$	(100,301)

Changes In and Reclassifications Out of Accumulated Other Comprehensive Loss

	Three Months Ended November 30				Nine Months Ended November 30
(In thousands)	2021		2020		2021		2020
Retirement Benefit Plans:
Actuarial loss amortization reclassifications recognized in net pension expense:
Cost of sales	$	367	$	402	$	1,083	$	1,212
CarMax Auto Finance income	21		27		64		83
Selling, general and administrative expenses	481		530		1,458		1,583
Total amortization reclassifications recognized in net pension expense	869		959		2,605		2,878
Tax expense	(210)		(232)		(629)		(695)
Amortization reclassifications recognized in net pension expense, net of tax	659		727		1,976		2,183
Net change in retirement benefit plan unrecognized actuarial losses, net of tax	659		727		1,976		2,183
Cash Flow Hedges (Note 6):
Changes in fair value	11,339		2,877		8,668		(21,906)
Tax (expense) benefit	(2,985)		(761)		(2,282)		5,793
Changes in fair value, net of tax	8,354		2,116		6,386		(16,113)
Reclassifications to CarMax Auto Finance income	4,111		6,334		13,610		15,060
Tax expense	(1,082)		(1,675)		(3,582)		(3,983)
Reclassification of hedge losses, net of tax	3,029		4,659		10,028		11,077
Net change in cash flow hedge unrecognized losses, net of tax	11,383		6,775		16,414		(5,036)
Total other comprehensive income (loss), net of tax	$	12,042	$	7,502	$	18,390	$	(2,853)

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 $32.2 million as of November 30, 2021 and $38.7 million as of February 28, 2021.