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Share-Based Compensation
 9 Months Ended
Oct. 31, 2011
Share-Based Compensation [Abstract]  
Share-Based Compensation

7. Share-Based Compensation

The Company maintains stock incentive plans pursuant to which it can grant restricted shares, unrestricted shares, incentive stock options, nonqualified stock options, restricted stock units, performance share units ("PSU's") or stock appreciation rights ("SAR's"). A Lattice Binomial pricing model was used to estimate the fair value of stock options and SAR's. The fair value of the PSU's are determined using a Monte Carlo simulation.

Share-based compensation expense included in the Condensed Consolidated Statements of Income for the three and nine months ended October 31, 2011 and 2010 was as follows:

 

                                 
     Three Months Ended
October 31,		      Nine Months Ended
October 31,		  
         2011              2010              2011              2010      

Stock Options

    $ 524       $ 1,085       $ 1,845       $ 3,091   

Stock Appreciation Rights

      243         172         756         172   

Performance Share Units

      2,682         1,642         5,726         4,163   

Restricted Shares

      11         —           17         —     
    

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 3,460       $ 2,899       $ 8,344       $ 7,426   
    

 

 

     

 

 

     

 

 

     

 

 

  

The Company recognized tax benefits related to stock options of $180 and $594 in its Condensed Consolidated Statements of Income for the three and nine months ended October 31, 2011, respectively. The Company recognized tax benefits related to stock options of $369 and $928 in its Condensed Consolidated Statements of Income for the three and nine months ended October 31, 2010, respectively.

The total share based awards issued and the weighted average fair value for the three and nine months ended October 31, 2011 and 2010 was as follows:

 

                                 
     Three Months Ended
October 31, 2011		      Three Months Ended
October 31, 2010		  
     Awards Issued      Weighted
Average  Fair
Value		      Awards Issued      Weighted
Average  Fair
Value		  

Stock Options

      —         $ —           20,500       $ 12.23   

Stock Appreciation Rights

      8,500       $ 9.87         487,600       $ 12.55   

Performance Share Units

      1,938,450       $ 16.28         390,300       $ 23.64   

Restricted Shares

      10,000       $ 20.08         —           —     
    

 

 

     

 

 

     

 

 

     

 

 

  

Total

      1,956,950                  898,400            
    

 

 

     

 

 

     

 

 

     

 

 

  

 

                                 
     Nine Months Ended
October 31, 2011		      Nine Months Ended
October 31, 2010		  
     Awards Issued      Weighted
Average Fair
Value		      Awards Issued      Weighted
Average Fair
Value		  

Stock Options

      100,000       $ 10.36         452,500       $ 12.07   

Stock Appreciation Rights

      8,500       $ 9.87         487,600       $ 12.55   

Performance Share Units

      1,938,450       $ 16.28         400,300       $ 24.03   

Restricted Shares

      10,000       $ 20.08         —           —     
    

 

 

     

 

 

     

 

 

     

 

 

  

Total

      2,056,950                  1,340,400            
    

 

 

     

 

 

     

 

 

     

 

 

  

The total unrecognized compensation cost and the weighted average period in which the cost is expected to be recognized as of October 31, 2011 is as follows:

 

                 
     October 31, 2011  
     Unrecognized
Compensation
Cost		      Weighted
Average
Years		  

Stock Options

    $ 7,049         2.3   

Stock Appreciation Rights

      4,187         3.9   

Performance Share Units

      52,031         4.5   

Restricted Shares

      208         4.5   
    

 

 

     

 

 

  

Total

    $ 63,475         4.2