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Shareholders' Equity
 3 Months Ended
Apr. 30, 2025
Equity [Abstract]  
Shareholders' Equity

8. Shareholders’ Equity

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

 

 

Three Months Ended

 

 

 

April 30,

 

 

 

2025

 

 

2024

 

Number of common shares repurchased and subsequently retired

 

 

3,274,260

 

 

 

—

 

Total cost(1)

 

$

151,935

 

 

$

—

 

Average cost per share, including commissions

 

$

46.40

 

 

$

—

 
(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 months ended April 30, 2025, excludes excise tax incurred of $1,193.

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 April 30, 2025, 14,682,130 common shares were remaining under the program.

During the three months ended April 30, 2025, the Company acquired and subsequently retired 379,283 common shares at a total cost of $20,241 from employees to meet payroll tax withholding requirements on vested share-based awards. During the three months ended April 30, 2024, the Company acquired and subsequently retired 342,845 common shares at a total cost of $14,445 from employees to meet payroll tax withholding requirements on vested share-based awards.