XML 36 R19.htm IDEA: XBRL DOCUMENT v3.20.1
Shareholders' Equity
12 Months Ended
Jan. 31, 2020
Equity [Abstract]  
Shareholders' Equity

12. Shareholders’ Equity

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

 

 

 

Fiscal Year Ended January 31,

 

 

 

2020

 

 

2019

 

Number of common shares repurchased and subsequently retired

 

 

8,068,196

 

 

 

3,500,000

 

Total cost

 

$

217,421

 

 

$

121,397

 

Average cost per share, including commissions

 

$

26.95

 

 

$

34.68

 

 

On August 22, 2017, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a share repurchase program. On June 4, 2019, the Company’s Board of Directors authorized the repurchase of an additional 20,000,000 common shares under a share repurchase program. As of January 31, 2020, 26,333,957 common shares were remaining under the programs.

Subsequent to January 31, 2020 (from March 12, 2020 to March 13, 2020), the Company repurchased and subsequently retired a total of 482,003 common shares for approximately $7,036, at an average price of $14.60 per share, including commissions. All fiscal 2021 share repurchases were funded with available cash, cash equivalents and marketable securities.

In addition to the common shares repurchased under the share repurchase programs, during the fiscal years ended January 31, 2020 and 2019, the Company acquired and subsequently retired 185,430 and 254,181 common shares at a total cost of $5,600 and $10,245, respectively, from employees to meet minimum statutory tax withholding requirements.