Interim Financial Information (Unaudited) (Tables)

12 Months Ended

Jan. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Interim Financial Information

Interim financial information for fiscal years 2020 and 2019 is as follows (in thousands, except per share amounts):



Fiscal Year 2020:
Quarter ended:	April 30 ⁽¹⁾		July 31 ⁽¹⁾		October 31 ⁽¹⁾		January 31 ⁽¹⁾
Net sales	$	8,406,424	$	9,092,244	$	9,118,944	$	10,380,809
Gross profit	509,379		561,650		560,387		666,231
Operating income	97,624		124,747		141,888		218,070
Net income	$	55,400	$	79,250	$	90,770	$	149,080

Earnings per share:
Basic	$	1.50	$	2.17	$	2.54	$	4.19
Diluted	$	1.49	$	2.16	$	2.52	$	4.15



Fiscal Year 2019:
Quarter ended:	April 30 ⁽²⁾⁽³⁾		July 31 ⁽²⁾⁽³⁾		October 31 ^(2)(3)(4)(5)		January 31 ^(3)(4)(6)
Net sales	$	8,548,319	$	8,886,101	$	9,340,029	$	10,464,501
Gross profit	523,117		527,030		556,604		649,148
Operating income	70,496		110,365		146,888		166,053
Net income	$	33,699	$	75,866	$	114,216	$	116,799

Earnings per share:
Basic	$	0.88	$	1.97	$	2.98	$	3.13
Diluted	$	0.87	$	1.97	$	2.96	$	3.11


(1)	During the first, second, third and fourth quarters of fiscal 2020, the Company recorded $6.2 million, $5.2 million, $4.6 million and $10.0 million of acquisition, integration and restructuring expenses, respectively (see Note 6 – Acquisition, Integration and Restructuring Expenses for further discussion).


(2)	During the first, second and third quarters of fiscal 2019, the Company recorded a gain of $3.0 million, $5.2 million and $7.2 million, respectively, in legal settlements and other, net.


(3)	During the first, second, third and fourth quarters of fiscal 2019, the Company recorded $33.2 million, $13.3 million, $20.3 million and $21.1 million of acquisition, integration and restructuring expenses, respectively.


(4)	The Company decreased its estimate of the one-time transition tax related to the enactment of U.S. Tax Reform by $24.0 million and $25.2 million, respectively, in the third and fourth quarters of fiscal 2019 (see Note 9 – Income Taxes for further discussion).


(5)	During the third quarter of fiscal 2019, the Company included a $25 million benefit in operating income related to the collection of an accounts receivable balance previously considered uncollectible.

(6)

During the fourth quarter of fiscal 2019, the Company recorded goodwill impairment expense of $47.4 million (see Note 4 – Goodwill and Intangible Assets for further discussion).