Share-Based Compensation

3 Months Ended

Apr. 30, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

8. 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, 2018 and 2017 was as follows:

	Three Months Ended
	April 30,
	2018		2017
Stock Options	$	217	$	249
Stock Appreciation Rights		4		61
Performance Stock Units		2,021		4,018
Restricted Stock Units		3,282		1,835
Total	$	5,524	$	6,163

Share-based awards granted and the weighted-average fair value of such awards for the three months ended April 30, 2018 was as follows:


	April 30, 2018
			Weighted-
	Awards		Average Fair
	Granted		Value
Stock Options		—	$	—
Stock Appreciation Rights		—	$	—
Performance Stock Units		100,000	$	34.76
Restricted Stock Units		525,000	$	35.97
Total		625,000

During the three months ended April 30, 2018, 160,000 stock options were exercised, 115,950 SAR’s were exercised, 176,666 PSU’s vested and 207,500 RSU’s vested.

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, 2018 was as follows:

	April 30, 2018
	Unrecognized		Weighted-
	Compensation		Average
	Cost		Years
Stock Options	$	61		0.1
Stock Appreciation Rights		—		0.0
Performance Stock Units		12,392		2.1
Restricted Stock Units		29,667		2.5
Total	$	42,120