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Shareholders' Equity
 9 Months Ended
Oct. 31, 2016
Shareholders' Equity

8. Shareholders’ Equity

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

 

     Three Months Ended
October 31,		      Nine Months Ended
October 31,		  
     2016      2015      2016      2015  

Number of common shares repurchased and subsequently retired

      1,000,000         3,699,949         1,324,700         10,737,090   

Total cost

    $ 35,083       $ 111,909       $ 45,787       $ 365,527   

Average cost per share, including commissions

    $ 35.08       $ 30.25       $ 34.56       $ 34.04   

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 5,995,059 common shares were remaining as of October 31, 2016.

In addition to the shares repurchased under the share repurchase program, during the nine months ended October 31, 2016, the Company acquired and subsequently retired 55,683 common shares at a total cost of $2,049 from employees to meet minimum statutory tax withholding requirements. During the nine months ended October 31, 2015, the Company acquired and subsequently retired 247,124 common shares at a total cost of $10,119 from employees to meet minimum statutory tax withholding requirements.