Stock and Stock-Based Incentive Plans (Tables)

9 Months Ended

Nov. 30, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Common Stock Repurchases

Common Stock Repurchases

	Three Months Ended				Nine Months Ended
	November 30				November 30
	2021		2020		2021		2020
Number of shares repurchased (in thousands)	851.1		1,175.8		3,602.8		1,691.3
Average cost per share	$	135.52	$	92.90	$	127.65	$	88.65
Available for repurchase, as of end of period (in millions)	$	876.2	$	1,402.4	$	876.2	$	1,402.4

Composition of Share-Based Compensation Expense

Composition of Share-Based Compensation Expense

	Three Months Ended				Nine Months Ended
	November 30				November 30
(In thousands)	2021		2020		2021		2020
Cost of sales	$	1,896	$	11	$	5,719	$	3,202
CarMax Auto Finance income	1,560		938		4,749		3,750
Selling, general and administrative expenses	33,328		10,728		100,453		68,680
Share-based compensation expense, before income taxes	$	36,784	$	11,677	$	110,921	$	75,632

Composition Of Share-Based Compensation Expense - By Grant Type

Composition of Share-Based Compensation Expense – By Grant Type

	Three Months Ended				Nine Months Ended
	November 30				November 30
(In thousands)	2021		2020		2021		2020
Nonqualified stock options	$	7,846	$	6,630	$	27,375	$	25,237
Cash-settled restricted stock units (RSUs)	23,836		1,210		62,398		33,784
Stock-settled market stock units (MSUs)	3,171		3,161		11,260		12,516
Other share-based incentives:
Stock-settled performance stock units (PSUs)	964		112		5,334		378
Restricted stock (RSAs)	365		39		670		106
Stock-settled deferred stock units (DSUs)	—		—		1,925		1,925
Employee stock purchase plan	602		525		1,959		1,686
Total other share-based incentives	$	1,931	$	676	$	9,888	$	4,095
Share-based compensation expense, before income taxes	$	36,784	$	11,677	$	110,921	$	75,632

Share-based Payment Arrangement, Activity

Share/Unit Activity
	Nine Months Ended November 30, 2021
	Equity Classified						Liability Classified
(Shares/units in thousands)	Options		MSUs		Other		RSUs
Outstanding as of February 28, 2021	6,266		520		84		1,606
Granted	922		82		89		377
Exercised or vested and converted	(1,249)		(197)		(2)		(715)
Cancelled	(78)		(11)		(2)		(78)
Outstanding as of November 30, 2021	5,861		394		169		1,190
Weighted average grant date fair value per share/unit:
Granted	$	42.31	$	178.16	$	132.96	$	136.48
Ending outstanding	$	23.75	$	112.21	$	108.30	$	93.44
	As of November 30, 2021
Unrecognized compensation (in millions)	$	54.4	$	17.5	$	4.8