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Share-Based Compensation (Tables)
 12 Months Ended
Jan. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
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, 2018, 2017 and 2016 was as follows:

 

 

 

Fiscal Year Ended January 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Stock Options

 

$

897

 

 

$

1,002

 

 

$

841

 

Stock Appreciation Rights

 

 

142

 

 

 

240

 

 

 

1,295

 

Performance Stock Units (1)(2)(3)

 

 

3,562

 

 

 

12,349

 

 

 

13,464

 

Restricted Stock Units

 

 

9,916

 

 

 

4,700

 

 

 

23

 

Total

 

$

14,517

 

 

$

18,291

 

 

$

15,623

 

 

 

(1)

Includes the reversal of $11,515 of previously recognized compensation expense in fiscal 2018, related to 871,779 PSU’s that will not vest as the achievement of the related performance target is not probable.

(2)

Includes the reversal of $7,908 of previously recognized compensation expense in fiscal 2017, related to 505,510 PSU’s that will not vest as the achievement of the related performance target is not probable.

(3)

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.
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,

 

 

 

2018

 

 

2017

 

 

2016

 

Expected life, in years

 

 

3.4

 

 

 

3.4

 

 

 

3.5

 

Risk-free interest rate

 

 

1.6

%

 

 

0.9

%

 

 

1.2

%

Volatility

 

 

40.2

%

 

 

34.2

%

 

 

32.5

%

Dividend rate

 

 

—

 

 

 

—

 

 

 

—

 

 
Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the fiscal year ended January 31, 2018:

 

 

 

Shares

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Contractual

Terms

(years)

 

 

Aggregate

Intrinsic

Value

 

Awards outstanding at beginning of year

 

 

908,250

 

 

$

34.45

 

 

 

3.1

 

 

$

75

 

Granted

 

 

160,000

 

 

 

18.89

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Forfeited or Expired

 

 

(168,250

)

 

 

32.74

 

 

 

 

 

 

 

 

 

Awards outstanding at end of year

 

 

900,000

 

 

 

32.01

 

 

 

3.4

 

 

$

3,933

 

Awards outstanding fully vested and expected to vest

 

 

900,000

 

 

 

32.01

 

 

 

3.4

 

 

$

3,933

 

Awards exercisable at end of year

 

 

740,000

 

 

$

34.84

 

 

 

2.7

 

 

$

1,498

 

 
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, 2018, 2017 and 2016:

 

 

 

Fiscal Year Ended January 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Weighted-average grant date fair value—per share

 

$

5.37

 

 

$

7.31

 

 

$

7.46

 

Intrinsic value of awards exercised

 

$

—

 

 

$

1,566

 

 

$

14,193

 

Net cash proceeds from the exercise of stock options

 

$

—

 

 

$

4,096

 

 

$

46,400

 

 
Summary of Stock Appreciation Right Activity

The following table summarizes the Company’s SAR activity for the fiscal year ended January 31, 2018:

 

 

 

Awards

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term

(years)

 

 

Aggregate

Intrinsic

Value

 

Awards outstanding at beginning of year

 

 

231,325

 

 

$

32.69

 

 

 

2.5

 

 

$

—

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Exercised

 

 

(3,175

)

 

 

32.80

 

 

 

 

 

 

 

 

 

Forfeited or Expired

 

 

(13,175

)

 

 

32.80

 

 

 

 

 

 

 

 

 

Awards outstanding at end of year

 

 

214,975

 

 

 

32.69

 

 

 

1.6

 

 

$

493

 

Awards outstanding fully vested and expected to vest

 

 

214,975

 

 

 

32.69

 

 

 

1.6

 

 

$

493

 

Awards exercisable at end of year

 

 

203,849

 

 

$

32.45

 

 

 

1.5

 

 

$

493

 

 
Summary of Other Information Related to SAR's

The following table summarizes other information related to SAR’s during the years ended January 31, 2018, 2017 and 2016:

 

 

 

Fiscal Year Ended January 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Intrinsic value of awards exercised

 

$

5

 

 

$

566

 

 

$

7,386

 

 
Summary of Performance Share Units Activity

The following table summarizes the Company’s PSU activity for the fiscal year ended January 31, 2018:

 

 

 

Shares

 

 

Weighted-

Average

Fair Value

 

Non-vested awards outstanding at beginning of year

 

 

3,050,734

 

 

$

17.98

 

Granted

 

 

390,000

 

 

 

23.38

 

Vested

 

 

(200,000

)

 

 

29.58

 

Forfeited

 

 

(573,473

)

 

 

22.47

 

Non-vested awards outstanding at end of year

 

 

2,667,261

 

 

$

21.84

 

 
Summary of Restricted Stock Units Activity

The following table summarizes the Company’s RSU activity for the fiscal year ended January 31, 2018:

 

 

 

Shares

 

 

Weighted-

Average

Fair Value

 

Non-vested awards outstanding at beginning of year

 

 

531,500

 

 

$

28.17

 

Granted

 

 

621,500

 

 

 

26.01

 

Vested

 

 

—

 

 

 

—

 

Forfeited

 

 

(61,500

)

 

 

27.49

 

Non-vested awards outstanding at end of year

 

 

1,091,500

 

 

$

26.92