Share Based Compensation (Tables)

12 Months Ended

Jan. 31, 2020

Share-based Payment Arrangement [Abstract]

The compensation cost and related income tax benefit for these plans

The compensation cost and related income tax benefit for these plans were as follows:

	For the years ended January 31,
	2020		2019		2018
Share-based compensation cost	$	4,971	$	3,951	$	3,725
Tax benefit	$	670	$	736	$	1,275

Weighted average assumptions by grant year

The weighted average assumptions used for the Black-Scholes option pricing model by grant year were as follows:

	For the years ended January 31,
	2019			2018
Risk-free interest rate	2.51		%	1.68		%
Expected dividend yield	1.48		%	1.78		%
Expected volatility factor	35.20		%	33.87		%
Expected option term (in years)	4.25			4.25
Weighted average grant date fair value	$	9.83		$	7.35

Outstanding stock options

Outstanding stock options as of January 31, 2020, and activity for the year then ended are presented below:

	Number of options	Weighted average exercise price		Aggregate intrinsic value		Weighted average remaining contractual term (years)
Outstanding, January 31, 2019	368,130	$	23.06
Granted	—	—
Exercised	(146,145)	20.30
Forfeited	(7,725)	20.62
Outstanding, January 31, 2020	214,260	$	25.03	$	1,564	2.00
Outstanding exercisable, January 31, 2020	76,879	$	24.18	$	603	1.85
Options vested, or expected to vest, January 31, 2020	214,260	$	25.03	$	1,564	2.00

Activity for RSUs under the plan

Activity for time-vested RSUs under the Plan in fiscal 2020 was as follows:

	Number of restricted stock units	Weighted average grant date fair value per share
Outstanding, January 31, 2019	166,025	$	26.09
Granted	203,539	36.04
Vested	(61,051)	16.03
Forfeited	(8,001)	33.26
Outstanding, January 31, 2020	300,512	$	34.69
Cumulative dividends, January 31, 2020	4,890

Activity for performance-based RSUs under the Plan in fiscal 2020 was as follows:

	Number of restricted stock units expected to vest	Weighted average grant date fair value per share
Outstanding, January 31, 2019	164,300	$	22.44
Granted	46,626	39.01
Vested	(96,075)	15.61
Forfeited	(1,300)	29.20
Performance-based adjustment	45,496	39.40
Outstanding, January 31, 2020	159,047	$	36.22
Cumulative dividends, January 31, 2020	2,269

Weighted average grant date fair values for RSUs

The weighted average grant date fair values of the time-based and performance-based RSUs by grant year are as follows:

	For the years ended January 31,
	2020		2019		2018
Weighted average grant date fair value: time-based RSUs	$	36.04	$	35.15	$	29.33
Weighted average grant date fair value: performance-based RSUs	$	39.01	$	35.05	$	29.20

Outstanding stock units, Director deferred stock plan

Outstanding stock units as of January 31, 2020, and changes during the year then ended are presented below:

	Number of stock units	Weighted average price
Outstanding, January 31, 2019	105,225	$	22.67
Granted	19,528	34.82
Deferred retainers	2,872	34.82
Dividends	1,788	35.66
Outstanding, January 31, 2020	129,413	$	24.95