Accumulated Other Comprehensive Loss

12 Months Ended

Feb. 28, 2021

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

ACCUMULATED OTHER COMPREHENSIVE LOSS

Changes in Accumulated Other Comprehensive Loss By Component


					Total
	Net		Net		Accumulated
	Unrecognized		Unrecognized		Other
	Actuarial		Hedge Gains		Comprehensive
(In thousands, net of income taxes)	Losses		(Losses)		Loss
Balance as of February 28, 2018	$	(68,497)	$	14,185	$	(54,312)
Other comprehensive loss before reclassifications	(3,459)		(6,703)		(10,162)
Amounts reclassified from accumulated other
comprehensive loss	1,478		(5,014)		(3,536)
Other comprehensive loss	(1,981)		(11,717)		(13,698)
Balance as of February 28, 2019	(70,478)		2,468		(68,010)
Other comprehensive loss before reclassifications	(52,254)		(34,631)		(86,885)
Amounts reclassified from accumulated other
comprehensive loss	1,430		3,394		4,824
Other comprehensive loss	(50,824)		(31,237)		(82,061)
Balance as of February 29, 2020	(121,302)		(28,769)		(150,071)
Other comprehensive income (loss) before reclassifications	25,729		(12,616)		13,113
Amounts reclassified from accumulated other
comprehensive loss	2,911		15,356		18,267
Other comprehensive income	28,640		2,740		31,380
Balance as of February 28, 2021	$	(92,662)	$	(26,029)	$	(118,691)

Changes In and Reclassifications Out of Accumulated Other Comprehensive Loss


	Years Ended February 28 or 29
(In thousands)	2021		2020		2019
Retirement Benefit Plans (Note 10):
Actuarial gain (loss) arising during the year	$	33,913	$	(68,861)	$	(4,560)
Tax (expense) benefit	(8,184)		16,607		1,101
Actuarial gain (loss) arising during the year, net of tax	25,729		(52,254)		(3,459)
Actuarial loss amortization reclassifications recognized in net pension expense:
Cost of sales	1,617		797		812
CarMax Auto Finance income	108		49		51
Selling, general and administrative expenses	2,112		1,028		1,086
Total amortization reclassifications recognized in net pension expense	3,837		1,874		1,949
Tax expense	(926)		(444)		(471)
Amortization reclassifications recognized in net
pension expense, net of tax	2,911		1,430		1,478
Net change in retirement benefit plan unrecognized
actuarial losses, net of tax	28,640		(50,824)		(1,981)

Cash Flow Hedges (Note 5):
Changes in fair value	(17,122)		(47,083)		(9,103)
Tax benefit	4,506		12,452		2,400
Changes in fair value, net of tax	(12,616)		(34,631)		(6,703)
Reclassifications to CarMax Auto Finance income	20,841		4,614		(6,809)
Tax (expense) benefit	(5,485)		(1,220)		1,795
Reclassification of hedge losses (gains), net of tax	15,356		3,394		(5,014)
Net change in cash flow hedge unrecognized losses, net of tax	2,740		(31,237)		(11,717)
Total other comprehensive income (loss), net of tax	$	31,380	$	(82,061)	$	(13,698)

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 loss. The cumulative balances are net of deferred taxes of $38.7 million as of February 28, 2021 and $48.8 million as of February 29, 2020.