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Shareholders' Equity
 6 Months Ended
Jul. 31, 2016
Shareholders' Equity

8. Shareholders’ Equity

Share repurchase activity under the Company’s share repurchase programs is as follows:

 

     Three Months Ended
July 31,		      Six Months Ended
July 31,		  
   2016      2015      2016      2015  

Number of common shares repurchased and subsequently retired

      —           6,635,164         324,700         7,037,141   

Total cost

    $ —         $ 236,312       $ 10,704       $ 253,618   

Average cost per share, including commissions

    $ —         $ 35.62       $ 32.97       $ 36.04   

On May 27, 2014, the Company’s Board of Directors authorized the repurchase of 10,000,000 common shares under a share repurchase program; all shares were repurchased and the authorization was completed by the end of June 2015. On February 23, 2015, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a share repurchase program, of which 6,995,059 common shares were remaining as of July 31, 2016.

During the six months ended July 31, 2016, the Company did not acquire any common shares from employees to meet minimum statutory tax withholding requirements. 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.