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Share-Based Compensation

3 Months Ended

Apr. 30, 2016

Share-Based Compensation

7. Share-Based Compensation

The Company maintains stock incentive plans pursuant to which it can grant restricted shares, unrestricted shares, incentive stock options, non-qualified stock options, restricted stock units (“RSU’s”), performance stock units (“PSU’s”) or stock appreciation rights (“SAR’s”). A lattice binomial pricing model was used to estimate the fair values of stock options and SAR’s. The fair value of each of the PSU’s was determined using a Monte Carlo simulation. Share-based compensation expense included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Income, for the three months ended April 30, 2016 and 2015 was as follows:

		Three Months Ended April 30,
		2016				2015
Stock Options		$	209			$	133
Stock Appreciation Rights			59				537
Performance Stock Units			4,592				3,420
Restricted Stock Units			900				23
Total		$	5,760			$	4,113

Share-based awards granted and the weighted-average fair value for the three months ended April 30, 2016 was as follows:

		Three Months Ended April 30, 2016
		Awards Granted				Weighted- Average Fair Value
Stock Options			—			$	—
Stock Appreciation Rights			—			$	—
Performance Stock Units			310,000			$	24.59
Restricted Stock Units			465,000			$	26.78
Total			775,000

During the three months ended April 30, 2016, 120,000 stock options were exercised and 2,075 SAR’s were exercised. No PSU’s or RSU’s vested during the three months ended April 30, 2016.

The total unrecognized compensation cost related to outstanding share-based awards and the weighted-average period in which the cost is expected to be recognized as of April 30, 2016 is as follows:

		April 30, 2016
		Unrecognized Compensation Cost				Weighted- Average Years
Stock Options		$	77				0.1
Stock Appreciation Rights			320				1.4
Performance Stock Units			45,195				2.7
Restricted Stock Units			10,930				2.3
Total		$	56,522				2.6

X

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14)
-URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

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