Shareholders' Equity (Notes)

9 Months Ended

Oct. 31, 2018

Shareholders' Equity and Share-based Payments

NOTE 10 — SHAREHOLDERS' EQUITY

On October 2, 2018, the Company's Board of Directors authorized a share repurchase program for up to $200.0 million of the Company's common stock. 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 issuance activity for the nine months ended October 31, 2018 is summarized as follows:



	Shares		Weighted-average price per share
Treasury stock balance at January 31, 2018	21,083,972		$	44.59
Shares of treasury stock repurchased	621,440		70.48
Shares of treasury stock reissued for equity incentive plans	(198,021	)
Treasury stock balance at October 31, 2018	21,507,391		$	45.34