Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Nov. 30, 2024

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

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Income

Changes in Accumulated Other Comprehensive Income By Component

					Total
	Net		Net		Accumulated
	Unrecognized		Unrecognized		Other
	Actuarial		Hedge		Comprehensive
(In thousands, net of income taxes)	Losses		Gains		Income
Balance as of February 29, 2024	$	(37,116)	$	96,395	$	59,279
Other comprehensive loss before reclassifications	—		(13,796)		(13,796)
Amounts reclassified from accumulated other comprehensive income	253		(30,909)		(30,656)
Other comprehensive income (loss)	253		(44,705)		(44,452)
Balance as of November 30, 2024	$	(36,863)	$	51,690	$	14,827

Changes In and Reclassifications Out of Accumulated Other Comprehensive Income

	Three Months Ended November 30				Nine Months Ended November 30
(In thousands)	2024		2023		2024		2023
Retirement Benefit Plans:
Actuarial loss amortization reclassifications recognized in net pension expense:
Cost of sales	$	48	$	58	$	147	$	174
CarMax Auto Finance income	4		4		11		11
Selling, general and administrative expenses	59		67		174		202
Total amortization reclassifications recognized in net pension expense	111		129		332		387
Tax expense	(27)		(31)		(79)		(93)
Amortization reclassifications recognized in net pension expense, net of tax	84		98		253		294
Net change in retirement benefit plan unrecognized actuarial losses, net of tax	84		98		253		294
Cash Flow Hedges (Note 5):
Changes in fair value	19,812		(10,594)		(18,427)		(11,599)
Tax (expense) benefit	(4,780)		2,640		4,631		2,976
Changes in fair value, net of tax	15,032		(7,954)		(13,796)		(8,623)
Reclassifications to CarMax Auto Finance income	(12,357)		(13,321)		(40,865)		(38,180)
Tax benefit	3,011		3,247		9,956		9,307
Reclassification of hedge gains, net of tax	(9,346)		(10,074)		(30,909)		(28,873)
Net change in cash flow hedge unrecognized gains, net of tax	5,686		(18,028)		(44,705)		(37,496)
Total other comprehensive income (loss), net of tax	$	5,770	$	(17,930)	$	(44,452)	$	(37,202)

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. The cumulative balances are net of deferred taxes of $4.8 million as of November 30, 2024 and $19.3 million as of February 29, 2024.