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Stockholders' Equity (Notes)
 12 Months Ended
Jan. 31, 2016
Equity [Abstract]  
Stockholders' Equity
STOCKHOLDERS' EQUITY

Accumulated Other Comprehensive Loss
 
 
January 31,
 
(in millions)
2016

 
2015

Accumulated other comprehensive (loss) earnings, net of tax:
 
 
 
Foreign currency translation adjustments
$
(135.3
)
 
$
(76.3
)
Unrealized (loss) gain on marketable securities
(1.0
)
 
1.9

Deferred hedging loss
(26.8
)
 
(5.4
)
Net unrealized loss on benefit plans
(115.0
)
 
(210.7
)
 
$
(278.1
)
 
$
(290.5
)


Additions to and reclassifications out of accumulated other comprehensive earnings (loss) are as follows: 
 
Years Ended January 31,
 
(in millions)
2016

2015

2014

Foreign currency translation adjustments
$
(59.9
)
$
(101.9
)
$
(31.7
)
Income tax benefit
0.9

8.8

4.5

Foreign currency adjustments, net of tax
(59.0
)
(93.1
)
(27.2
)
Unrealized (loss) gain on marketable securities
(4.1
)
(0.9
)
1.2

Reclassification for gain included in net earnings a
(0.4
)
—

—

Income tax benefit (expense)
1.6

0.1

(0.4
)
Unrealized (loss) gain on marketable securities, net of tax
(2.9
)
(0.8
)
0.8

Unrealized (loss) gain on hedging instruments
(22.2
)
14.6

8.7

Reclassification adjustment for gain included in
net earnings b
(11.7
)
(13.0
)
(14.0
)
Income tax benefit (expense)
12.5

(0.4
)
1.9

Unrealized (loss) gain on hedging instruments, net of tax
(21.4
)
1.2

(3.4
)
Prior service cost
—

(0.5
)
—

Net actuarial gain (loss)
122.5

(234.6
)
86.3

Amortization of net loss included in net earnings c
30.4

13.1

19.2

Amortization of prior service (credit) cost included in
net earnings c
(0.6
)
(0.4
)
0.3

Income tax (expense) benefit
(56.6
)
83.2

(40.7
)
Net unrealized gain (loss) on benefit plans, net of tax
95.7

(139.2
)
65.1

Total other comprehensive earnings (loss), net of tax
$
12.4

$
(231.9
)
$
35.3


a
These losses are reclassified into Other expense (income), net.
b
These gains 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 $400.0 million 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 with $163.8 million of unused capacity.

In March 2014, the Company's Board of Directors approved a share repurchase program ("2014 Program") which authorized the Company to repurchase up to $300.0 million of its Common Stock through open market transactions. The program had an expiration date of March 31, 2017, but was terminated in January 2016 in connection with the authorization of a new program with increased repurchase capacity (as described in more detail below). Approximately $58.6 million remained available for repurchase under the 2014 Program at the time of its termination.

In January 2016, the Company's Board of Directors approved a new share repurchase program ("2016 Program") which authorizes the Company to repurchase up to $500.0 million of its Common Stock through open market transactions, block trades or privately negotiated transactions and terminated the 2014 Program. Purchases under the 2014 Program were, and purchases under the 2016 Program have been, 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 2016 Program will expire on January 31, 2019. Approximately $494.0 million remained available for repurchase under the 2016 Program at January 31, 2016.

The Company's share repurchase activity was as follows:
 
Years Ended January 31,
 
(in millions, except per share amounts)
2016

2015

2014

Cost of repurchases
$
220.4

$
27.0

$
—

Shares repurchased and retired
2.8

0.3

—

Average cost per share
$
78.40

$
89.91

$
—



Cash Dividends

The Company's Board of Directors declared quarterly dividends which, on an annual basis, totaled $1.58, $1.48 and $1.34 per share of Common Stock in 2015, 2014 and 2013.

On February 18, 2016, the Company's Board of Directors declared a quarterly dividend of $0.40 per share of Common Stock. This dividend will be paid on April 11, 2016 to stockholders of record on March 21, 2016.