Stock Option Plans

3 Months Ended

Apr. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 10. Stock Option Plans

The Company has stock-based compensation plans under which stock options have been granted to directors, officers and key employees at the market price on the date of the grant. No options have been granted since fiscal year 2004.

The total intrinsic value of options exercised during the three months ended April 30, 2014 and 2013 was approximately $3.6 million and $0.3 million, respectively, resulting in tax deductions of approximately $0.6 million and $0.1 million, respectively. The following table summarizes options granted, exercised and canceled or expired during the three months ended April 30, 2014:

				Weighted		Weighted Average	Aggregate
				Average		Remaining	Intrinsic
				Exercise		Contractual Term	Value
	Shares			Price		(in years)	(in thousands)
Outstanding at January 31, 2014		83,330		$	12.37
Exercised		(75,120	)	$	12.39
Outstanding and exercisable at April 30, 2014		8,210		$	12.18	0.1	$	437

At April 30, 2014, there was no unrecognized compensation cost related to nonvested stock options.