Accumulated Other Comprehensive Loss

12 Months Ended

Feb. 28, 2022

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 Gains		Comprehensive
(In thousands, net of income taxes)	Losses		(Losses)		Loss
Balance as of February 28, 2019	$	(70,478)	$	2,468	$	(68,010)
Other comprehensive loss before reclassifications	(52,254)		(34,631)		(86,885)
Amounts reclassified from accumulated other
comprehensive loss	1,430		3,394		4,824
Other comprehensive loss	(50,824)		(31,237)		(82,061)
Balance as of February 29, 2020	(121,302)		(28,769)		(150,071)
Other comprehensive income (loss) before reclassifications	25,729		(12,616)		13,113
Amounts reclassified from accumulated other
comprehensive loss	2,911		15,356		18,267
Other comprehensive income	28,640		2,740		31,380
Balance as of February 28, 2021	(92,662)		(26,029)		(118,691)
Other comprehensive income before reclassifications	17,034		40,211		57,245
Amounts reclassified from accumulated other
comprehensive loss	2,627		12,397		15,024
Other comprehensive income	19,661		52,608		72,269
Balance as of February 28, 2022	$	(73,001)	$	26,579	$	(46,422)

Changes In and Reclassifications Out of Accumulated Other Comprehensive Loss

	Years Ended February 28 or 29
(In thousands)	2022		2021		2020
Retirement Benefit Plans (Note 12):
Actuarial gain (loss) arising during the year	$	22,517	$	33,913	$	(68,861)
Tax (expense) benefit	(5,483)		(8,184)		16,607
Actuarial gain (loss) arising during the year, net of tax	17,034		25,729		(52,254)
Actuarial loss amortization reclassifications recognized in net pension expense:
Cost of sales	1,451		1,617		797
CarMax Auto Finance income	84		108		49
Selling, general and administrative expenses	1,938		2,112		1,028
Total amortization reclassifications recognized in net pension expense	3,473		3,837		1,874
Tax expense	(846)		(926)		(444)
Amortization reclassifications recognized in net
pension expense, net of tax	2,627		2,911		1,430
Net change in retirement benefit plan unrecognized
actuarial losses, net of tax	19,661		28,640		(50,824)
Cash Flow Hedges (Note 6):
Changes in fair value	54,105		(17,122)		(47,083)
Tax (expense) benefit	(13,894)		4,506		12,452
Changes in fair value, net of tax	40,211		(12,616)		(34,631)
Reclassifications to CarMax Auto Finance income	16,680		20,841		4,614
Tax expense	(4,283)		(5,485)		(1,220)
Reclassification of hedge losses, net of tax	12,397		15,356		3,394
Net change in cash flow hedge unrecognized gains, net of tax	52,608		2,740		(31,237)
Total other comprehensive income (loss), net of tax	$	72,269	$	31,380	$	(82,061)

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 $14.2 million as of February 28, 2022 and $38.7 million as of February 28, 2021.