Share-Based Compensation

3 Months Ended

Apr. 30, 2013

6. 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 (“RSU’s”), performance stock units (“PSU’s”) or stock appreciation rights (“SAR’s”). A lattice binomial pricing model was used to estimate the fair values of stock options and SAR’s. The fair values of the PSU’s are determined using a Monte Carlo simulation.

Share-based compensation expense included in selling, general and administrative expenses in the Condensed Consolidated Statements of Income, for the three months ended April 30, 2013 and 2012 was as follows:


	Three Months Ended April 30,
	2013		2012
Stock Options	$	704	$	399
Stock Appreciation Rights		767		507
Performance Stock Units		2,123		2,000
Restricted Stock Units		47		(15	)

Total	$	3,641	$	2,891

Share-based awards granted and the weighted-average fair value for the three months ended April 30, 2013 was as follows:


	Three Months Ended April 30, 2013
	Awards Granted		Weighted Average Fair Value
Stock Options		—	$	—
Stock Appreciation Rights		27,500	$	14.11
Performance Stock Units		66,000	$	24.38
Restricted Stock Units		10,000	$	39.06

Total		103,500

The total unrecognized compensation cost related to outstanding share-based awards and the weighted-average period in which the cost is expected to be recognized as of April 30, 2013 is as follows:


	April 30, 2013
	Unrecognized Compensation Cost		Weighted Average Years
Stock Options	$	1,605		1.1
Stock Appreciation Rights		8,713		3.0
Performance Stock Units		23,526		2.9
Restricted Stock Units		327		1.4

Total	$	34,171		2.8

- 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 SEC

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-Publisher AICPA

-Name Statement of Position (SOP)

-Number 93-6

-Paragraph 53

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Accounting Standards Codification

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+ Details