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Shareholders' Equity
 12 Months Ended
Jan. 31, 2022
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,

 

 

 

2022

 

 

2021

 

Number of common shares repurchased and subsequently retired

 

 

1,959,159

 

 

 

482,003

 

Total cost

 

$

55,765

 

 

$

7,036

 

Average cost per share, including commissions

 

$

28.46

 

 

$

14.60

 

 

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, 2022, 23,892,795 common shares were remaining under the programs.

Subsequent to January 31, 2022, the Company repurchased and subsequently retired a total of 1,194,699 common shares for approximately $31,802, at an average price of $26.62 per share, including commissions.

In addition to the common shares repurchased under the share repurchase programs, during the fiscal years ended January 31, 2022 and 2021, the Company acquired and subsequently retired 229,082 and 161,335 common shares at a total cost of $7,790 and $3,876, respectively, from employees to meet payroll tax withholding requirements.