SHAREHOLDERS’ EQUITY

During fiscal 2013, the Company completed both of the $100.0 million share repurchase programs approved by the Company’s Board of Directors in May 2012 and November 2011. In conjunction with the Company's share repurchase programs, 10b5-1 plans were executed that instruct the brokers selected by the Company to repurchase shares on behalf of the Company. The amount of common stock repurchased in accordance with the 10b5-1 plans on any given trading day is determined by a formula in the plan, which is based on the market price of the Company's common stock and average daily volumes. Shares repurchased by the Company are held in treasury for general corporate purposes, including issuances under equity incentive and benefit plans. The reissuance of shares from treasury stock is based on the weighted average purchase price of the shares.

The Company’s common share repurchase and issuance activity for fiscal 2014 and 2013 is summarized as follows:



	Shares		Weighted- average price per share
Treasury stock balance at January 31, 2012	18,166,761		$	40.71
Shares of common stock repurchased under share repurchase programs	3,878,548		49.33
Shares of treasury stock reissued	(608,743	)
Treasury stock balance at January 31, 2013	21,436,566		42.26
Shares of treasury stock reissued	(259,436	)
Treasury stock balance at January 31, 2014	21,177,130		42.26