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SHAREHOLDERS' EQUITY
3 Months Ended
Apr. 30, 2011
SHAREHOLDER EQUITY [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 4 – SHAREHOLDERS' EQUITY
 
Earnings per Share
There were no adjustments required to be made to the weighted-average common shares outstanding for purposes of computing basic and diluted earnings per share and there were no securities outstanding at April 30, 2011 or May 1, 2010, which were excluded from the computation of earnings per share other than antidilutive stock options and restricted stock awards. For the first quarter of 2011 and the first quarter of 2010, 1.2 million and 0.6 million, respectively, of the stock options outstanding were antidilutive and excluded from the computation of diluted earnings per share.  Antidilutive stock options generally consist of outstanding stock options where the exercise price per share is greater than the weighted-average market price per share for our common shares for each period.  Antidilutive stock options and restricted stock awards are excluded from the calculation because they decrease the number of diluted shares outstanding under the treasury stock method.  The restricted stock awards that were antidilutive, as determined under the treasury stock method, were immaterial for all periods presented.

2010 Repurchase Program
In December 2009, our Board of Directors authorized a share repurchase program providing for the repurchase of up to $150.0 million of our common shares.  On March 2, 2010, our Board of Directors authorized a $250.0 million increase to our repurchase program bringing the total authorization to $400.0 million (collectively the “2010 Repurchase Program”).  See note 10 to the accompanying consolidated financial statements for a discussion of the May 2011 authorization of an additional $400.0 million repurchase program.
 
During 2010, we acquired approximately 10.5 million of our outstanding common shares for $342.2 million under the 2010 Repurchase Program.  During the first quarter of 2011, we did not acquire any of our outstanding common shares under the 2010 Repurchase Program.
 
Our remaining repurchase authorization under the 2010 Repurchase Program was approximately $57.8 million at April 30, 2011, and is available to be utilized to repurchase shares in the open market and/or in privately negotiated transactions at our discretion, subject to market conditions and other factors.  Common shares acquired through the 2010 Repurchase Program are held in treasury at cost and are available to meet obligations under equity compensation plans and for general corporate purposes.  The 2010 Repurchase Program has no scheduled termination date and will be funded with cash and cash equivalents, cash generated from operations or, if needed, by drawing on the 2009 Credit Agreement.