Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Aug. 31, 2022

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

Accumulated Other Comprehensive Loss

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	—		81,908		81,908
Amounts reclassified from accumulated other comprehensive income (loss)	962		(4,449)		(3,487)
Other comprehensive income	962		77,459		78,421
Balance as of August 31, 2022	$	(72,039)	$	104,038	$	31,999

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

	Three Months Ended August 31				Six Months Ended August 31
(In thousands)	2022		2021		2022		2021
Retirement Benefit Plans:
Actuarial loss amortization reclassifications recognized in net pension expense:
Cost of sales	$	273	$	359	$	538	$	716
CarMax Auto Finance income	16		21		32		43
Selling, general and administrative expenses	347		488		702		977
Total amortization reclassifications recognized in net pension expense	636		868		1,272		1,736
Tax expense	(155)		(210)		(310)		(419)
Amortization reclassifications recognized in net pension expense, net of tax	481		658		962		1,317
Net change in retirement benefit plan unrecognized actuarial losses, net of tax	481		658		962		1,317
Cash Flow Hedges (Note 6):
Changes in fair value	40,168		(665)		110,210		(2,671)
Tax (expense) benefit	(10,315)		175		(28,302)		703
Changes in fair value, net of tax	29,853		(490)		81,908		(1,968)
Reclassifications to CarMax Auto Finance income	(5,687)		4,401		(5,986)		9,499
Tax benefit (expense)	1,460		(1,158)		1,537		(2,500)
Reclassification of hedge (losses) gains, net of tax	(4,227)		3,243		(4,449)		6,999
Net change in cash flow hedge unrecognized gains, net of tax	25,626		2,753		77,459		5,031
Total other comprehensive income, net of tax	$	26,107	$	3,411	$	78,421	$	6,348

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 $12.9 million as of August 31, 2022 and $14.2 million as of February 28, 2022.