Share-Based Compensation Plans (Tables)

9 Months Ended

Oct. 31, 2015

The following table summarizes the activity of time-based and performance-based awards for the nine months ended October 31, 2015:

	Units				Weighted-Average Grant-Date Fair Value
	Time- Based		Performance-Based		Time- Based		Performance- Based
Non-Vested at January 31, 2015	378,518		170,789		$	42.67	$	43.94
Granted	360,967		36,844		52.60		57.32
Vested (1)	(231,764	)	(18,977	)	43.69		46.41
Forfeited	(19,552	)	(20,000	)	40.17		33.09

Non-Vested at October 31, 2015	488,169		168,656		$	49.63	$	47.87

(1)Includes 86,035 shares relinquished for tax payments related to vested deferred stock units for the nine months ended October 31, 2015.

Summary of restricted stock activity

The following table summarizes the activity of restricted stock for the nine months ended October 31, 2015:

	Shares		Weighted- Average Grant-Date Fair Value
Non-Vested at January 31, 2015	67,790		$	37.05
Granted	12,425		50.31
Vested	(44,398	)	40.25
Forfeited	(19,360	)	27.77

Non-Vested at October 31, 2015	16,457		$	49.37

Summary of stock option activity

The following table summarizes the activity of stock options for the nine months ended October 31, 2015:

	Shares		Weighted- Average Exercise Price
Outstanding at January 31, 2015	660,283		$	38.28
Granted	41,951		57.91
Exercised	(19,617	)	33.02
Forfeited	—		—
Expired	—		—

Outstanding at October 31, 2015	682,617		$	39.64

Exercisable at October 31, 2015	301,070		$	31.83

Weighted-average assumptions used to calculate fair value of stock options

The following table summarizes the weighted-average assumptions used to fair value stock options at the date of grant using the Black-Scholes option pricing model for the nine months ended October 31, 2015:

	For the Nine Months Ended
	October 31, 2015

Risk-free interest rate	1.51	%
Expected lives	5.0 years
Dividend yield	1.38	%
Expected volatility	39.74	%