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Stock and Stock-Based Incentive Plans Stock And Stock-Based Incentive Plans | 6 Months Ended
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Aug. 31, 2017
Share-based Compensation [Abstract] |
Stock and Stock-Based Incentive Plans | Stock and Stock-Based Incentive Plans (A) Share Repurchase Program As of August 31, 2017, our board of directors has authorized the repurchase of up to $4.55 billion of our common stock. At that date, $1.25 billion was available for repurchase, with no expiration date, under the board's outstanding authorization. Common Stock Repurchases
| Three Months Ended |  | Six Months Ended
| August 31 |  | August 31
| 2017 |  | 2016 |  | 2017 |  | 2016
Number of shares repurchased (in thousands) | 2,453.1 |  |  | 2,365.2 |  |  | 5,487.8 |  |  | 4,934.7 |
Average cost per share | $ | 63.78 |  |  | $ | 53.18 |  |  | $ | 61.69 |  |  | $ | 52.25 |
Available for repurchase, as of end of period (in millions) | $ | 1,251.8 |  |  | $ | 1,890.2 |  |  | $ | 1,251.8 |  |  | $ | 1,890.2 |
(B) Share-Based Compensation Composition of Share-Based Compensation Expense
| Three Months Ended |  | Six Months Ended
| August 31 |  | August 31
(In thousands) | 2017 |  | 2016 |  | 2017 |  | 2016
Cost of sales | $ | 1,076 |  |  | $ | 1,054 |  |  | $ | 1,303 |  |  | $ | 2,414 |
CarMax Auto Finance income | 848 |  |  | 747 |  |  | 1,668 |  |  | 1,651 |
Selling, general and administrative expenses | 16,316 |  |  | 27,679 |  |  | 34,409 |  |  | 57,262 |
Share-based compensation expense, before income taxes | $ | 18,240 |  |  | $ | 29,480 |  |  | $ | 37,380 |  |  | $ | 61,327 |
Composition of Share-Based Compensation Expense – By Grant Type
| Three Months Ended |  | Six Months Ended
| August 31 |  | August 31
(In thousands) | 2017 |  | 2016 |  | 2017 |  | 2016
Nonqualified stock options | $ | 5,916 |  |  | $ | 15,090 |  |  | $ | 16,286 |  |  | $ | 28,221 |
Cash-settled restricted stock units (RSUs) | 9,785 |  |  | 9,085 |  |  | 12,903 |  |  | 21,461 |
Stock-settled market stock units (MSUs) | 2,543 |  |  | 3,698 |  |  | 6,164 |  |  | 7,348 |
Stock-settled performance stock units (PSUs) | (863 | ) |  | 199 |  |  | 490 |  |  | 2,332 |
Employee stock purchase plan | 381 |  |  | 355 |  |  | 795 |  |  | 765 |
Restricted stock awards (RSAs) | 478 |  |  | 1,053 |  |  | 742 |  |  | 1,200 |
Share-based compensation expense, before income taxes | $ | 18,240 |  |  | $ | 29,480 |  |  | $ | 37,380 |  |  | $ | 61,327 |
(C) Stock Incentive Plan Information Share/Unit Activity
| Six Months Ended August 31, 2017
| Equity Classified |  | Liability Classified
(Shares/units in thousands) | Options | MSUs | PSUs | RSAs |  | RSUs
Outstanding as of February 28, 2017 | 7,753 |  | 504 |  | 149 |  | 50 |  |  | 1,406 |
Granted | 1,932 |  | 159 |  | 74 |  | 29 |  |  | 628 |
Exercised or vested and converted | (621 | ) | (223 | ) | — |  | (28 | ) |  | (463 | )
Cancelled | (18 | ) | (5 | ) | — |  | — |  |  | (58 | )
Outstanding as of August 31, 2017 | 9,046 |  | 435 |  | 223 |  | 51 |  |  | 1,513 |
Weighted average grant date fair value per share/unit: |  |  |  |  |  |
Granted | $ | 16.11 |  | $ | 73.59 |  | $ | 58.38 |  | $ | 62.35 |  |  | $ | 58.39 |
Ending outstanding | $ | 15.48 |  | $ | 73.72 |  | $ | 60.10 |  | $ | 58.06 |  |  | $ | 59.34 |
| As of August 31, 2017 |  |
Unrecognized compensation (in mil lions) | $ | 47.6 |  | $ | 15.0 |  | $ | 3.9 |  | $ | 2.1 |  |  |
In the second quarter of fiscal 2017, in connection with the retirement of our former CEO, Thomas J. Folliard, the board of directors modified certain equity awards previously granted to him. This modification effectively provided Mr. Folliard retirement treatment under the terms of the awards, notwithstanding that he was younger than 55 years old. The modification resulted in the recognition of additional share-based compensation expense of $10.9 million. In addition, the awards granted to Mr. Folliard in April 2016 effectively provided him retirement treatment, thus full expense recognition of $3.5 million occurred at the grant date.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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