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Share-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2016

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, 2016, 2015 and 2014 was as follows:

		Fiscal Year Ended January 31,
		2016				2015				2014
Stock Options		$	841			$	1,377			$	2,621
Stock Appreciation Rights			1,295				2,244				2,918
Performance Stock Units (1)(2)			13,464				12,991				9,956
Restricted Stock Units			23				124				247
Total		$	15,623			$	16,736			$	15,742

(1) Includes the reversal of $967 of previously recognized compensation expense in fiscal 2016, related to 50,004 PSU’s that will not vest as the achievement of the related performance target is not probable.

(2) 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.

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,
		2016				2015				2014
Expected life, in years			3.5				3.4				3.5
Risk-free interest rate			1.2	%			1.1	%			0.6	%
Volatility			32.5	%			33.0	%			36.0	%
Dividend rate			—				—				—

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the fiscal year ended January 31, 2016:

		Shares				Weighted- Average Exercise Price				Weighted- Average Contractual Terms (years)				Aggregate Intrinsic Value
Awards outstanding at beginning of year			2,464,390			$	32.69				1.6			$	8,547
Granted			120,000				38.09
Exercised			(1,416,990	)			32.75
Forfeited or Expired			(217,025	)			33.24
Awards outstanding at end of year			950,375				33.17				2.9			$	307
Awards outstanding expected to vest			944,375				33.17				2.9			$	292
Awards exercisable at end of year			830,375			$	32.46				2.9			$	307

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, 2016, 2015 and 2014:

		Fiscal Year Ended January 31,
		2016				2015				2014
Weighted-average grant date fair value—per share		$	7.46			$	7.02			$	9.67
Intrinsic value of awards exercised		$	14,193			$	4,852			$	30,450
Net cash proceeds from the exercise of stock options		$	46,466			$	10,693			$	35,218

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,
		2016				2015				2014
Expected life, in years			—				—				5.6
Risk-free interest rate			—				—				1.0	%
Volatility			—				—				46.0	%
Dividend rate			—				—				—

Summary of Stock Appreciation Right Activity

The following table summarizes the Company’s SAR activity for the fiscal year ended January 31, 2016:

		Awards				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Awards outstanding at beginning of year			893,408			$	30.89				4.6			$	3,990
Granted			—				—
Exercised			(520,358	)			29.68
Forfeited or Expired			(68,950	)			(36.25	)
Awards outstanding at end of year			304,100				31.74				3.5			$	—
Awards outstanding expected to vest			302,687				31.74				3.5			$	—
Awards exercisable at end of year			224,180			$	31.25				3.5			$	—

Summary of Other Information Related to SAR's

The following table summarizes other information related to SAR’s during the years ended January 31, 2016, 2015 and 2014:

		Fiscal Year Ended January 31,
		2016				2015				2014
Weighted-average grant date fair value—per share		$	—			$	—			$	14.11
Intrinsic value of awards exercised		$	7,386			$	654			$	848

Summary of Performance Share Units Activity

The following table summarizes the Company’s PSU activity for the fiscal year ended January 31, 2016:

		Shares				Weighted- Average Fair Value
Non-vested awards outstanding at beginning of year			3,992,209			$	21.32
Granted			1,471,000				18.94
Vested			(435,996	)			17.58
Forfeited			(843,915	)			22.72
Non-vested awards outstanding at end of year			4,183,298			$	20.64

Summary of Restricted Stock Units Activity

The following table summarizes the Company’s RSU activity for the fiscal year ended January 31, 2016:

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

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