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Shareholders' Equity
 9 Months Ended
Oct. 31, 2022
Equity [Abstract]  
Shareholders' Equity

9. Shareholders’ Equity

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

October 31,

 

 

October 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Number of common shares repurchased and subsequently retired

 

 

—

 

 

 

500,000

 

 

 

4,736,405

 

 

 

500,000

 

Total cost

 

$

—

 

 

$

14,888

 

 

$

112,016

 

 

$

14,888

 

Average cost per share, including commissions

 

$

—

 

 

$

29.78

 

 

$

23.65

 

 

$

29.78

 

 

 

On August 22, 2017, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a share repurchase program; all shares were repurchased and the authorization was completed by the end of June 2022. 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 October 31, 2022, 19,156,390 common shares were remaining under the program.

During the nine months ended October 31, 2022, the Company acquired and subsequently retired 246,034 common shares at a total cost of $6,680 from employees to meet payroll tax withholding requirements on vested awards. During the nine months ended October 31, 2021, the Company acquired and subsequently retired 225,757 common shares at a total cost of $7,684 from employees to meet payroll tax withholding requirements on vested awards.