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Share-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2015

Share-Based Compensation Expense Included in Selling, General and Administrative Expenses in Consolidated Statements of Income

Share-based compensation expense, included in “Selling, general and administrative expenses” in the Consolidated Statements of Income, for the fiscal years ended January 31, 2015, 2014 and 2013 was as follows:

		Fiscal Year Ended January 31,
		2015				2014				2013
Stock Options		$	1,377			$	2,621			$	2,214
Stock Appreciation Rights			2,244				2,918				2,578
Performance Stock Units (1)(2)			12,991				9,956				6,124
Restricted Stock Units			124				247				(24	)
Total		$	16,736			$	15,742			$	10,892

(1) Includes the reversal of $1,396 of previously recognized compensation expense in fiscal 2015, related to 163,336 PSU’s that will not vest as the achievement of the related performance target is not probable.

(2) Includes the reversal of $3,418 of previously recognized compensation expense in fiscal 2013, related to 320,200 PSU’s that will not vest as the achievement of the related performance target is not probable.

Assumptions Used to Estimate Fair Value of Stock Options

The following weighted-average assumptions were used in the Model to estimate the fair value of stock options at the date of grant:

		Fiscal Year Ended January 31,
		2015				2014				2013
Expected life, in years			3.4				3.5				3.6
Risk-free interest rate			1.1	%			0.6	%			0.5	%
Volatility			33.0	%			36.0	%			45.0	%
Dividend rate			—				—				—

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the fiscal year ended January 31, 2015:

		Shares				Weighted- Average Exercise Price				Weighted- Average Contractual Terms (years)				Aggregate Intrinsic Value
Awards outstanding at beginning of year			2,813,194			$	31.55				2.3				14,502
Granted			100,000				35.85
Exercised			(422,187	)			25.33
Forfeited or Expired			(26,617	)			40.56
Awards outstanding at end of year			2,464,390				32.69				1.6			$	8,547
Awards outstanding expected to vest			2,458,921				32.69				1.6			$	8,120
Awards exercisable at end of year			2,355,015			$	32.54				1.6			$	8,538

Summary of Information Concerning Outstanding and Exercisable Stock Options

The following table summarizes other information related to stock options during the years ended January 31, 2015, 2014 and 2013:

		Fiscal Year Ended January 31,
		2015				2014				2013
Weighted-average grant date fair value—per share		$	7.02			$	9.67			$	7.71
Intrinsic value of awards exercised		$	4,852			$	30,450			$	19,544
Net cash proceeds from the exercise of stock options		$	10,693			$	35,218			$	30,671

Weighted Average Assumptions Used to Estimate Fair Value of Stock Appreciation Right's at Date of Grant

The following weighted-average assumptions were used in the Model to estimate the fair value of SAR’s at the date of grant:

		Fiscal Year Ended January 31,
		2015				2014				2013
Expected life, in years			—				5.6				5.0
Risk-free interest rate			—				1.0	%			0.9	%
Volatility			—				46.0	%			48.2	%
Dividend rate			—				—				—

Summary of Stock Appreciation Right Activity

The following table summarizes the Company’s SAR activity for the fiscal year ended January 31, 2015:

		Awards				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Awards outstanding at beginning of year			1,102,475			$	31.33				5.7
Granted			—				—
Exercised			(75,650	)			28.87
Forfeited or Expired			(133,417	)			35.70
Awards outstanding at end of year			893,408				30.89				4.6			$	3,990
Awards outstanding expected to vest			873,671				30.89				4.6			$	3,791
Awards exercisable at end of year			498,675			$	30.57				4.6			$	2,164

Summary of Other Information Related to SAR's

The following table summarizes other information related to SAR’s during the years ended January 31, 2015, 2014 and 2013:

		Fiscal Year Ended January 31,
		2015				2014				2013
Weighted-average grant date fair value—per share		$	—			$	14.11			$	11.85
Intrinsic value of awards exercised		$	654			$	848			$	—

Summary of Performance Share Units Activity

The following table summarizes the Company’s PSU activity for the fiscal year ended January 31, 2015:

		Shares				Weighted- Average Fair Value
Non-vested awards outstanding at beginning of year			3,709,225			$	20.48
Granted			867,500				23.40
Vested			(278,324	)			17.12
Forfeited			(306,192	)			20.69
Non-vested awards outstanding at end of year			3,992,209			$	21.32

Summary of Restricted Stock Units Activity

The following table summarizes the Company’s RSU activity for the fiscal year ended January 31, 2015:

		Shares				Weighted- Average Fair Value
Non-vested awards outstanding at beginning of year			10,000			$	39.06
Granted			—				—
Vested			(5,000	)			39.06
Forfeited			—				—
Non-vested awards outstanding at end of year			5,000			$	39.06

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