Shareholders' Equity (Notes)

3 Months Ended

Apr. 30, 2015

Shareholders' Equity and Share-based Payments

NOTE 5 — SHAREHOLDERS' EQUITY

During the first quarter of fiscal 2016, the Company completed the $100.0 million share repurchase program approved by the Board of Directors in December 2014. In conjunction with the Company’s share repurchase program, a 10b5-1 plan was executed that instructs the broker selected by the Company to repurchase shares on behalf of the Company. The amount of common stock repurchased in accordance with the 10b5-1 plan 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. 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 2016 is summarized as follows:



	Shares		Weighted- average price per share
Treasury stock balance at January 31, 2015	21,866,069		$	42.95
Shares of common stock repurchased under share repurchase program	801,858		58.62
Shares of treasury stock reissued	(165,217	)
Treasury stock balance at April 30, 2015	22,502,710		$	43.50