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Shareholders' Equity
 12 Months Ended
Jan. 31, 2017
Shareholders' Equity

11. Shareholders’ Equity

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

 

     Fiscal Year Ended January 31,  
     2017      2016  

Number of common shares repurchased and subsequently retired

      1,324,700        14,961,710  

Total cost

    $ 45,787      $ 465,304  

Average cost per share, including commissions

    $ 34.56      $ 31.10  

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 January 31, 2017.

In addition to the common shares repurchased under the share repurchase programs, during the fiscal years ended January 31, 2017 and January 31, 2016, the Company acquired and subsequently retired 55,769 and 247,124 common shares at a total cost of $2,052 and $10,120, respectively, from employees to meet minimum statutory tax withholding requirements.