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Stockholders' Equity
 12 Months Ended
Jan. 31, 2015
Equity [Abstract]  
Stockholders' Equity
STOCKHOLDERS' EQUITY

Accumulated Other Comprehensive Loss
 
 
January 31,
 
(in thousands)
2015

 
2014

Accumulated other comprehensive (loss) earnings, net of tax:
 
 
 
Foreign currency translation adjustments
$
(76,284
)
 
$
16,846

Unrealized gain on marketable securities
1,912

 
2,677

Deferred hedging loss
(5,399
)
 
(6,607
)
Net unrealized loss on benefit plans
(210,691
)
 
(71,464
)
 
$
(290,462
)
 
$
(58,548
)

Additions to and reclassifications out of accumulated other comprehensive (loss) earnings are as follows: 
 
Years Ended January 31,
 
(in thousands)
2015

2014

2013

Foreign currency translation adjustments
$
(101,900
)
$
(31,742
)
$
(11,567
)
Income tax benefit
8,770

4,524

6,422

Foreign currency adjustments, net of tax
(93,130
)
(27,218
)
(5,145
)
Unrealized (loss) gain on marketable securities
(870
)
1,234

2,640

Reclassification for loss included in net earnings a
—

—

6

Income tax benefit (expense)
105

(406
)
(927
)
Unrealized (loss) gain on marketable securities, net of tax
(765
)
828

1,719

Unrealized gain (loss) on hedging instruments
14,620

8,716

(4,439
)
Reclassification adjustment for (gain) loss included in
net earnings b
(13,017
)
(13,950
)
12,168

Income tax (expense) benefit
(395
)
1,834

(2,207
)
Unrealized gain (loss) on hedging instruments, net of tax
1,208

(3,400
)
5,522

Prior service cost
(477
)
—

—

Net actuarial (loss) gain
(234,669
)
86,310

(34,520
)
Amortization of net loss included in net earnings c
13,144

19,217

15,993

Amortization of prior service (credit) cost included in
net earnings c
(407
)
313

356

Income tax benefit (expense)
83,182

(40,723
)
7,330

Net unrealized (loss) gain on benefit plans, net of tax
(139,227
)
65,117

(10,841
)
Total other comprehensive (loss) earnings, net of tax
$
(231,914
)
$
35,327

$
(8,745
)

a
These losses are reclassified into Other income, net.
b
These (gains) losses are reclassified into Interest expense and financing costs and Cost of sales (see "Note H - Hedging Instruments" for additional details).
c
These accumulated other comprehensive income components are included in the computation of net periodic pension costs (see "Note N - Employee Benefit Plans" for additional details).

Stock Repurchase Program

In January 2011, the Company's Board of Directors approved a stock repurchase program ("2011 Program") and terminated a previously-existing program. The 2011 Program authorized the Company to repurchase up to $400,000,000 of its Common Stock through open market or private transactions. The timing of repurchases and the actual number of shares to be repurchased depended on a variety of discretionary factors such as stock price, cash-flow forecasts and other market conditions. The Company suspended share repurchases during the second quarter of 2012. In January 2013, the Board of Directors extended the expiration date of the 2011 Program to January 31, 2014. The 2011 Program expired on January 31, 2014.

In March 2014, the Company's Board of Directors approved a share repurchase program which authorizes the Company to repurchase up to $300,000,000 of its Common Stock through open market transactions. Purchases are executed under a written plan for trading securities as specified under Rule 10b5-1 promulgated under the Securities and Exchange Act of 1934, as amended, the terms of which are within the Company's discretion, subject to applicable securities laws, and are based on market conditions and the Company's liquidity needs. The program will expire on March 31, 2017.

The Company's share repurchase activity was as follows:
 
Years Ended January 31,
 
(in thousands, except per share amounts)
2015

2014

2013

Cost of repurchases
$
27,028

$
—

$
54,107

Shares repurchased and retired
301

—

813

Average cost per share
$
89.91

$
—

$
66.54



At January 31, 2015, $272,972,000 remained available for share repurchases under this authorization.

Cash Dividends

The Company's Board of Directors declared quarterly dividends which, on an annual basis, totaled $1.48, $1.34 and $1.25 per share of Common Stock in 2014, 2013 and 2012.

On February 19, 2015, the Company's Board of Directors declared a quarterly dividend of $0.38 per share of Common Stock. This dividend will be paid on April 10, 2015 to stockholders of record on March 20, 2015.