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Shareholder's Equity
 3 Months Ended
Apr. 30, 2015
Shareholder's Equity

7. Shareholder’s Equity

On May 27, 2014, the Company’s Board of Directors authorized the repurchase of 10,000,000 common shares under a 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. During the three months ended April 30, 2015, the Company repurchased and subsequently retired 401,977 shares at a total cost of $17,306 under this authorization. The average cost per share of these repurchases for the three months ended April 30, 2015 was $43.05, including commissions.

On February 23, 2015, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a subsequent share repurchase program. During the three months ended April 30, 2015, no shares were repurchased under this authorization.

Subsequent to April 30, 2015, the Company repurchased and retired at total of 3,539,000 common shares for approximately $124,203, at an average price of $35.10 per share, including commissions. These repurchases were comprised of 1,879,492 common shares which completed the May 27, 2014 authorization and the remaining 1,659,508 common shares were repurchased as part of the February 23, 2015 authorization.

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 three months ended April 30, 2015 the Company acquired and subsequently retired 180,776 common shares at a total cost of $7,976, from employees to meet minimum statutory tax withholding requirements. During the three months ended April, 30, 2014, the Company acquired and subsequently retired 1,690 common shares at a total cost of $61 from employees to meet minimum statutory tax withholding requirements.

As a result of the share repurchase activity during the three months ended April 30, 2015, the Company reduced the balance of additional paid-in-capital by $25,282.