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Lease Commitments | 12 Months Ended
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Feb. 28, 2014
Lease Commitments [Abstract] |
Lease Commitments | 15.Lease Commitments Our leases primarily consist of land or land and building leases related to CarMax superstore locations. Our lease obligations are based upon contractual minimum rates. Most leases provide that we pay taxes, maintenance, insurance and ope rating expenses applicable to the premises. The initial term of most real property leases will expire within the next 20 years; however, most of the leases have options pr oviding for renewal periods of 5 to 20 years at terms similar to the initial terms. For f inance and capital lease s, a portion of the periodic lease payments is recognized as interest expense and the remainder reduce s th e obligations. For operating leases, rent is recognized on a straight-line basis over the lease term, including scheduled rent increases and rent holidays. Rent expense for all operating leases was $43.6 million in fiscal 2014, $42.8 million in fiscal 2013 and $42.3 million in fiscal 2012. See Note 11 for additional information on finance and capital lease obligations. Future Minimum Lease Obligations
| As of February 28, 2014
| Capital |  | Finance |  | Operating Lease
(In thousands) | Lease (1) |  | Leases (1) |  | Commitments (1)
Fiscal 2015 | $ | 304 |  |  | $ | 47,369 |  |  | $ | 42,341 |
Fiscal 2016 |  | 333 |  |  |  | 48,219 |  |  |  | 42,400 |
Fiscal 2017 |  | 354 |  |  |  | 42,589 |  |  |  | 39,708 |
Fiscal 2018 |  | 354 |  |  |  | 35,408 |  |  |  | 36,890 |
Fiscal 2019 |  | 354 |  |  |  | 32,577 |  |  |  | 35,639 |
Fiscal 2020 and thereafter |  | 5,163 |  |  |  | 160,997 |  |  |  | 251,091 |
Total minimum lease payments |  | 6,862 |  |  |  | 367,159 |  |  |  | 448,069 |
Less amounts representing interest |  | (4,081) |  |  |  |  |  |  |  |  |
Present value of net minimum lease payments | $ | 2,781 |  |  |  |  |  |  |  |  |
| (1) |  | Excludes taxes, insurance and other costs payable directly by us. These costs vary from year to year and are incurred in
the ordinary course of business.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6452660&loc=d3e36991-112694 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=6584154&loc=d3e38371-112697 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717 + Details
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