STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Oct. 31, 2017

STOCK-BASED COMPENSATION

Schedule of activity under the Company's stock option plans

Summaries of activity under the Company’s stock option plans for the nine months ended October 31, 2017 and 2016, along with corresponding weighted average per share amounts, are presented below (shares in thousands):

	Shares		Exercise Price		Remaining Term (years)	Fair Value
Outstanding, February 1, 2017	707		$	39.04	7.82	$	10.22
Granted	125		$	63.58
Exercised	(90	)	$	30.74
Forfeited	(10	)	$	71.75
Outstanding, October 31, 2017	732		$	43.81	7.59	$	11.61
Exercisable, October 31, 2017	452		$	28.75	6.52	$	7.76

	Shares		Exercise Price		Remaining Term (years)	Fair Value
Outstanding, February 1, 2016	1,064		$	26.38	6.36	$	6.91
Granted	105		$	36.09
Exercised	(444	)	$	24.77
Forfeited	(5	)	$	36.73
Outstanding, October 31, 2016	720		$	28.71	7.21	$	7.62
Exercisable, October 31, 2016	555		$	27.13	6.55	$	7.16

Schedule of changes in the number of non-vested options to purchase shares of common stock

The changes in the number of non-vested options to purchase shares of common stock for the nine months ended October 31, 2017 and 2016, and the weighted average fair value per share for each number, are presented below (shares in thousands):

	Shares		Fair Value
Non-vested, February 1, 2017	270		$	14.93
Granted	125		$	16.19
Vested	(105	)	$	9.66
Forfeited	(10	)	$	19.14
Non-vested, October 31, 2017	280		$	17.83

	Shares		Fair Value
Non-vested, February 1, 2016	300		$	8.97
Granted	105		$	9.66
Vested	(240	)	$	7.63
Non-vested, October 31, 2016	165		$	9.17

Summary of assumptions used to estimate fair value of stock options granted

	Nine Months Ended October 31,
	2017		2016
Dividend yield	1.1	%	2.0	%
Expected volatility	36.0	%	33.9	%
Risk-free interest rate	1.6	%	1.4	%
Expected life (in years)	3.4		5.5