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Stock and Stock-Based Incentive Plans Stock And Stock-Based Incentive Plans | 9 Months Ended
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Nov. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Stock and Stock-Based Incentive Plans | Stock and Stock-Based Incentive Plans (A) Share Repurchase Program As of November 30, 2021, a total of $2.0 billion of board authorizations for repurchases of our common stock was outstanding, with no expiration date, of which $876.2 million remained available for repurchase. Common Stock Repurchases
| Three Months Ended |  | Nine Months Ended
| November 30 |  | November 30
| 2021 |  | 2020 |  | 2021 |  | 2020
Number of shares repurchased (in thousands) | 851.1 |  |  | 1,175.8 |  |  | 3,602.8 |  |  | 1,691.3 |
Average cost per share | $ | 135.52 |  |  | $ | 92.90 |  |  | $ | 127.65 |  |  | $ | 88.65 |
Available for repurchase, as of end of period (in millions) | $ | 876.2 |  |  | $ | 1,402.4 |  |  | $ | 876.2 |  |  | $ | 1,402.4 |
(B)Share-Based Compensation Composition of Share-Based Compensation Expense
| Three Months Ended |  | Nine Months Ended
| November 30 |  | November 30
(In thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Cost of sales | $ | 1,896 |  |  | $ | 11 |  |  | $ | 5,719 |  |  | $ | 3,202 |
CarMax Auto Finance income | 1,560 |  |  | 938 |  |  | 4,749 |  |  | 3,750 |
Selling, general and administrative expenses | 33,328 |  |  | 10,728 |  |  | 100,453 |  |  | 68,680 |
Share-based compensation expense, before income taxes | $ | 36,784 |  |  | $ | 11,677 |  |  | $ | 110,921 |  |  | $ | 75,632 |
Composition of Share-Based Compensation Expense – By Grant Type
| Three Months Ended |  | Nine Months Ended
| November 30 |  | November 30
(In thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Nonqualified stock options | $ | 7,846 |  |  | $ | 6,630 |  |  | $ | 27,375 |  |  | $ | 25,237 |
Cash-settled restricted stock units (RSUs) | 23,836 |  |  | 1,210 |  |  | 62,398 |  |  | 33,784 |
Stock-settled market stock units (MSUs) | 3,171 |  |  | 3,161 |  |  | 11,260 |  |  | 12,516 |
Other share-based incentives: |  |  |  |  |  |  |
Stock-settled performance stock units (PSUs) | 964 |  |  | 112 |  |  | 5,334 |  |  | 378 |
Restricted stock (RSAs) | 365 |  |  | 39 |  |  | 670 |  |  | 106 |
Stock-settled deferred stock units (DSUs) | — |  |  | — |  |  | 1,925 |  |  | 1,925 |
Employee stock purchase plan | 602 |  |  | 525 |  |  | 1,959 |  |  | 1,686 |
Total other share-based incentives | $ | 1,931 |  |  | $ | 676 |  |  | $ | 9,888 |  |  | $ | 4,095 |
Share-based compensation expense, before income taxes | $ | 36,784 |  |  | $ | 11,677 |  |  | $ | 110,921 |  |  | $ | 75,632 |
(C) Stock Incentive Plan Information
Share/Unit Activity |  |  |  |
| Nine Months Ended November 30, 2021
| Equity Classified | Liability Classified
(Shares/units in thousands) | Options | MSUs | Other | RSUs
Outstanding as of February 28, 2021 | 6,266 |  | 520 |  | 84 |  | 1,606 |
Granted | 922 |  | 82 |  | 89 |  | 377 |
Exercised or vested and converted | (1,249) |  | (197) |  | (2) |  | (715) |
Cancelled | (78) |  | (11) |  | (2) |  | (78) |
Outstanding as of November 30, 2021 | 5,861 |  | 394 |  | 169 |  | 1,190 |
Weighted average grant date fair value per share/unit: |  |  |  |
Granted | $ | 42.31 |  | $ | 178.16 |  | $ | 132.96 |  | $ | 136.48 |
Ending outstanding | $ | 23.75 |  | $ | 112.21 |  | $ | 108.30 |  | $ | 93.44 |
| As of November 30, 2021 |
Unrecognized compensation (in millions) | $ | 54.4 |  | $ | 17.5 |  | $ | 4.8 |  |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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