Accumulated Other Comprehensive Income (Loss)

3 Months Ended

May 31, 2022

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

Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated Other Comprehensive Income (Loss) By Component


					Total
	Net		Net		Accumulated
	Unrecognized		Unrecognized		Other
	Actuarial		Hedge		Comprehensive
(In thousands, net of income taxes)	Losses		Gains		Income (Loss)
Balance as of February 28, 2022	$	(73,001)	$	26,579	$	(46,422)
Other comprehensive income before reclassifications	—		52,055		52,055
Amounts reclassified from accumulated other comprehensive income (loss)	481		(222)		259
Other comprehensive income	481		51,833		52,314
Balance as of May 31, 2022	$	(72,520)	$	78,412	$	5,892

Changes In and Reclassifications Out of Accumulated Other Comprehensive Income (Loss)


	Three Months Ended May 31
(In thousands)	2022		2021
Retirement Benefit Plans:
Actuarial loss amortization reclassifications recognized in net pension expense:
Cost of sales	$	265	$	357
CarMax Auto Finance income	16		22
Selling, general and administrative expenses	355		489
Total amortization reclassifications recognized in net pension expense	636		868
Tax expense	(155)		(209)
Amortization reclassifications recognized in net pension expense, net of tax	481		659
Net change in retirement benefit plan unrecognized actuarial losses, net of tax	481		659

Cash Flow Hedges (Note 6):
Changes in fair value	70,042		(2,006)
Tax (expense) benefit	(17,987)		528
Changes in fair value, net of tax	52,055		(1,478)
Reclassifications to CarMax Auto Finance income	(299)		5,098
Tax benefit (expense)	77		(1,342)
Reclassification of hedge gains (losses), net of tax	(222)		3,756
Net change in cash flow hedge unrecognized gains, net of tax	51,833		2,278
Total other comprehensive income, net of tax	$	52,314	$	2,937

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 income (loss). The cumulative balances are net of deferred taxes of $3.9 million as of May 31, 2022 and $14.2 million as of February 28, 2022.