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Stock And Stock-Based Incentive Plans (Tables) | 12 Months Ended
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Feb. 28, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Composition Of Share-Based Compensation Expense |
|  | Years Ended February 28 or 29
(In thousands) |  | 2014 | 2013 | 2012
Cost of sales |  | $ | 3,200 |  | $ | 3,010 |  | $ | 1,845 |
CarMax Auto Finance income |  |  | 2,983 |  |  | 2,521 |  |  | 1,867 |
Selling, general and administrative expenses |  |  | 61,487 |  |  | 57,643 |  |  | 45,392 |
Share-based compensation expense, before income taxes |  | $ | 67,670 |  | $ | 63,174 |  | $ | 49,104 |
Composition Of Share-Based Compensation Expense - By Grant Type |
|  | Years Ended February 28 or 29
(In thousands) |  | 2014 | 2013 | 2012
Nonqualified stock options |  | $ | 23,914 |  | $ | 24,853 |  | $ | 21,581 |
Cash-settled restricted stock units |  |  | 29,551 |  |  | 24,268 |  |  | 15,435 |
Stock-settled restricted stock units |  |  | 12,515 |  |  | 12,441 |  |  | 10,360 |
Employee stock purchase plan |  |  | 1,190 |  |  | 1,062 |  |  | 1,015 |
Stock grants to non-employee directors |  |  | 500 |  |  | 550 |  |  | 550 |
Restricted stock |  |  | ― |  |  | ― |  |  | 163 |
Share-based compensation expense, before income taxes |  | $ | 67,670 |  | $ | 63,174 |  | $ | 49,104 |
Stock Option Activity |
|  |  |  |  |  |  |  |  | Weighted |  |  |  |  |
|  |  |  |  |  |  |  |  | Average |  |  |  |  |
|  |  |  | Weighted |  |  | Remaining |  |  | Aggregate
| Number of | Average |  | Contractual |  | Intrinsic
(Shares and intrinsic value in thousands) | Shares | Exercise Price |  | Life (Years) |  | Value
Outstanding as of February 28, 2013 |  | 10,771 |  | $ | 23.00 |  |  |  |  |  |  |  |  |
Options granted |  | 1,605 |  |  | 42.77 |  |  |  |  |  |  |  |  |
Options exercised |  | (2,337) |  |  | 19.32 |  |  |  |  |  |  |  |  |
Options forfeited or expired |  | (21) |  |  | 27.58 |  |  |  |  |  |  |  |  |
Outstanding as of February 28, 2014 |  | 10,018 |  | $ | 27.02 |  |  |  | 3.7 |  |  | $ | 214,476 |
Exercisable as of February 28, 2014 |  | 5,883 |  | $ | 21.06 |  |  |  | 2.6 |  |  | $ | 161,051 |
Outstanding Stock Options |
|  |  |  |  | As of February 28, 2014
|  |  |  |  | Options Outstanding |  | Options Exercisable
|  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Average | Weighted |  |  |  |  | Weighted
|  |  |  |  |  |  |  | Remaining | Average |  |  |  |  | Average
(Shares in thousands) | Number of | Contractual | Exercise |  | Number of | Exercise
Range of Exercise Prices | Shares | Life (Years) | Price |  | Shares | Price
$ | 11.43 |  |  |  |  | 1,512 |  |  | 2.1 |  | $ | 11.43 |  |  |  | 1,512 |  | $ | 11.43 |
$ | 13.19 | - | $ | 19.82 |  | 1,550 |  |  | 1.0 |  | $ | 15.66 |  |  |  | 1,550 |  | $ | 15.66 |
$ | 19.98 | - | $ | 25.39 |  | 1,580 |  |  | 3.1 |  | $ | 25.19 |  |  |  | 1,222 |  | $ | 25.13 |
$ | 25.67 | - | $ | 32.05 |  | 2,118 |  |  | 5.0 |  | $ | 31.62 |  |  |  | 654 |  | $ | 31.45 |
$ | 32.69 | - | $ | 49.25 |  | 3,258 |  |  | 5.1 |  | $ | 37.56 |  |  |  | 945 |  | $ | 32.84 |
Total |  |  |  |  |  | 10,018 |  |  | 3.7 |  | $ | 27.02 |  |  |  | 5,883 |  | $ | 21.06 |
Assumptions Used To Estimate Option Values |
|  | Years Ended February 28 or 29
|  | 2014 |  | 2013 |  | 2012
Dividend yield |  |  |  |  | 0.0 | % |  |  |  |  | 0.0 | % |  |  |  |  | 0.0 | %
Expected volatility factor (1) |  | 27.9 | % | - | 46.8 | % |  | 31.1 | % | - | 51.4 | % |  | 34.8 | % | - | 52.0 | %
Weighted average expected volatility |  |  |  |  | 44.7 | % |  |  |  |  | 49.4 | % |  |  |  |  | 49.3 | %
Risk-free interest rate (2) |  | 0.02 | % | - | 2.6 | % |  | 0.02 | % | - | 2.0 | % |  | 0.01 | % | - | 3.5 | %
Expected term (in years) (3) |  |  |  |  | 4.7 |  |  |  |  |  | 4.7 |  |  |  |  |  | 4.6 |
(1)Measured using historical daily price changes of our stock for a period corresponding to the term of the options and the implied volatility derived from the market prices of traded options on our stock. (2)Based on the U.S. Treasury yield curve in effect at the time of grant. (3)Represents the estimated number of years that options will be outstanding prior to exercise.
Cash-Settled For Restricted Stock Unit [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Restricted Stock And Restricted Stock Unit Activity |
|  |  |  |  | Weighted |
|  |  |  |  | Average |
|  | Number of |  |  | Grant Date |
(Units in thousands) |  | Units |  |  | Fair Value |
Outstanding as of February 28, 2013 |  | 1,651 |  | $ | 29.90 |
Stock units granted |  | 542 |  | $ | 42.68 |
Stock units vested and converted |  | (565) |  | $ | 25.64 |
Stock units cancelled |  | (97) |  | $ | 34.95 |
Outstanding as of February 28, 2014 |  | 1,531 |  | $ | 35.68 |
Expected Cash Settlement Range Upon Restricted Stock Unit Vesting |
|  | As of February 28, 2014
(In thousands) |  | Minimum (1) | Maximum (1)
Fiscal 2015 |  | $ | 11,191 |  | $ | 29,843 |
Fiscal 2016 |  |  | 12,439 |  |  | 33,172 |
Fiscal 2017 |  |  | 14,179 |  |  | 37,811 |
Total expected cash settlements |  | $ | 37,809 |  | $ | 100,826 |
(1)Net of estimated forfeitures.
Stock-Settled Restricted Stock Units [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Restricted Stock And Restricted Stock Unit Activity |
|  |  |  |  | Weighted |
|  |  |  |  | Average |
|  | Number of |  |  | Grant Date |
(Units in thousands) |  | Units |  |  | Fair Value |
Outstanding as of February 28, 2013 |  | 904 |  | $ | 40.78 |
Stock units granted |  | 238 |  | $ | 52.02 |
Stock units vested and converted |  | (285) |  | $ | 36.66 |
Stock units cancelled |  | (5) |  | $ | 46.79 |
Outstanding as of February 28, 2014 |  | 852 |  | $ | 45.26 |

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