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Shareholders' Equity
 9 Months Ended
Oct. 31, 2024
Equity [Abstract]  
Shareholders' Equity

8. Shareholders’ Equity

Share repurchase activity under the Company's share repurchase program was as follows:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

October 31,

 

 

October 31,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Number of common shares repurchased and subsequently retired

 

 

—

 

 

 

—

 

 

 

1,200,000

 

 

 

—

 

Total cost(1)

 

$

—

 

 

$

—

 

 

$

52,262

 

 

$

—

 

Average cost per share, including commissions

 

$

—

 

 

$

—

 

 

$

43.55

 

 

$

—

 
(1)
Under the Inflation Reduction Act, the Company's share repurchases, net of issuances, are subject to a 1% excise tax. The total cost of share repurchases during the three and nine months ended October 31, 2024 excludes excise tax incurred of $234.

On June 4, 2019, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a share repurchase program. As of October 31, 2024, 17,956,390 common shares were remaining under the program.

During the nine months ended October 31, 2024, the Company acquired and subsequently retired 363,369 common shares at a total cost of $15,264 from employees to meet payroll tax withholding requirements on vested share-based awards. During the nine months ended October 31, 2023, the Company acquired and subsequently retired 308,649 common shares at a total cost of $8,353 from employees to meet payroll tax withholding requirements on vested share-based awards.