Stock and Stock-Based Incentive Plans (Tables)

9 Months Ended

Nov. 30, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Common Stock Repurchases

Common Stock Repurchases

	Three Months Ended				Nine Months Ended
	November 30				November 30
	2020		2019		2020		2019
Number of shares repurchased (in thousands)	1,175.8		1,270.3		1,691.3		5,748.9
Average cost per share	$	92.90	$	90.38	$	88.65	$	77.92
Available for repurchase, as of end of period (in millions)	$	1,402.4	$	1,666.0	$	1,402.4	$	1,666.0

Composition of Share-Based Compensation Expense

Composition of Share-Based Compensation Expense

	Three Months Ended				Nine Months Ended
	November 30				November 30
(In thousands)	2020		2019		2020		2019
Cost of sales	$	11	$	2,128	$	3,202	$	6,293
CarMax Auto Finance income	938		1,317		3,750		4,166
Selling, general and administrative expenses	10,728		26,251		68,680		89,047
Share-based compensation expense, before income taxes	$	11,677	$	29,696	$	75,632	$	99,506

Composition Of Share-Based Compensation Expense - By Grant Type

Composition of Share-Based Compensation Expense – By Grant Type

	Three Months Ended				Nine Months Ended
	November 30				November 30
(In thousands)	2020		2019		2020		2019
Nonqualified stock options	$	6,630	$	6,151	$	25,237	$	24,314
Cash-settled restricted stock units (RSUs)	1,210		20,545		33,784		59,763
Stock-settled market stock units (MSUs)	3,161		2,837		12,516		10,298
Other share-based incentives:
Stock-settled performance stock units (PSUs)	112		(244)		378		1,389
Restricted stock (RSAs)	39		—		106		—
Stock-settled deferred stock units (DSUs)	—		—		1,925		2,412
Employee stock purchase plan	525		407		1,686		1,330
Total other share-based incentives	$	676	$	163	$	4,095	$	5,131
Share-based compensation expense, before income taxes	$	11,677	$	29,696	$	75,632	$	99,506

Share-based Payment Arrangement, Activity

Share/Unit Activity

	Nine Months Ended November 30, 2020
	Equity Classified						Liability Classified
(Shares/units in thousands)	Options		MSUs		Other		RSUs
Outstanding as of February 29, 2020	6,994		477		130		1,557
Granted	1,602		199		23		670
Exercised or vested and converted	(1,481)		(148)		(69)		(512)
Cancelled	(29)		(8)		—		(72)
Outstanding as of November 30, 2020	7,086		520		84		1,643
Weighted average grant date fair value per share/unit:
Granted	$	22.77	$	93.70	$	86.88	$	71.08
Ending outstanding	$	19.41	$	90.46	$	81.80	$	70.86
	As of November 30, 2020
Unrecognized compensation (in millions)	$	49.8	$	17.8	$	1.0