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Shareholders' Equity
 6 Months Ended
Jul. 31, 2015
Shareholders' Equity

7. Shareholders’ Equity

On February 23, 2015, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a share repurchase program. Under this authorization, the Company repurchased and retired a total of 4,755,672 common shares for approximately $170,792 during the three and six months ended July 31, 2015. The average cost per share of these repurchases for the three and six months ended July 31, 2015 was $35.91, including commissions.

Subsequent to July 31, 2015, the Company repurchased and retired a total of 1,300,000 common shares for approximately $40,023, at an average price of $30.79 per share, including commissions, which were funded with the Company’s available cash, cash equivalents, and marketable securities.

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 and six months ended July 31, 2015, the Company repurchased and subsequently retired 1,879,492 and 2,281,469 shares at a total cost of $65,520 and $82,826, respectively, which completed this authorization. The average cost per share of these repurchases for the three and six months ended July 31, 2015 were $34.86 and $36.30, respectively, including commissions.

In addition to the shares repurchased under the share repurchase programs, during the six months ended July 31, 2015, the Company acquired and subsequently retired 181,890 common shares at a total cost of $8,017, from employees to meet minimum statutory tax withholding requirements. During the six months ended July 31, 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 six months ended July 31, 2015, the Company reduced the balance of additional paid-in-capital to zero with subsequent share repurchase activity recorded as a reduction of retained earnings of $201,773.