XML 65 R17.htm IDEA: XBRL DOCUMENT v2.4.1.9
Shareholders' Equity
 12 Months Ended
Jan. 31, 2015
Shareholders' Equity

10. Shareholders’ Equity

On May 27, 2014, the Company’s Board of Directors authorized the repurchase of 10,000,000 common shares under a new share repurchase program. Under this authorization, the Company repurchased and subsequently retired 7,718,531 common shares at a total cost of $258,160 during fiscal 2015. The average cost per share of these repurchases for fiscal 2015 was $33.45, including commissions.

On August 27, 2013, the Company’s Board of Directors authorized the repurchase of 10,000,000 common shares under a share repurchase program. The Company repurchased and subsequently retired all of the remaining 9,699,700 outstanding shares available under this authorization during the first quarter of fiscal 2015 at a total cost of $353,315 for an average cost per share of $36.43, including commissions.

In addition to the shares repurchased under the share repurchase programs, during the fiscal years ended January 31, 2015 and January 31, 2014 the Company acquired and subsequently retired 111,563 and 9,520 common shares at a total cost of $3,947 and $397, respectively, from employees to meet minimum statutory tax withholding requirements.

As a result of the share repurchase activity during fiscal 2015, the Company reduced the balance of additional paid-in-capital by $128,935, which resulted in a reduction of retained earnings of $486,484.

On February 23, 2015, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a new share repurchase program.