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Share-Based Compensation (Tables)
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12 Months Ended |
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Jan. 31, 2015
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Shared-based Compensation Expense |
The following summarizes our share-based compensation expense: | | | | | | | | | | | | | | 2014 | | 2013 | | 2012 | | (in thousands) | Stock options | $ | 7,556 |
| | $ | 8,883 |
| | $ | 8,123 |
| Restricted stock units and restricted stock | 11,770 |
| | 12,291 |
| | 8,185 |
| Total share-based compensation | $ | 19,326 |
| | $ | 21,174 |
| | $ | 16,308 |
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| Schedule of Share-based Compensation, Activity |
The Company's activity with respect to stock options during 2014 was as follows: | | | | | | | | | | | | | | | Number of Shares | | Grant Date Weighted Average Exercise Price | | Weighted-Average Remaining Contractual Life | | Aggregate Intrinsic Value | | (in thousands, except per share amounts and years) | Outstanding, February 1, 2014 | 3,234 |
| | $ | 18.85 |
| | | | | Granted | 388 |
| | $ | 15.84 |
| | | | | Exercised | — |
| | $ | — |
| | | | | Forfeited or expired | (152 | ) | | $ | 20.10 |
| | | | | Outstanding, January 31, 2015 | 3,470 |
| | $ | 18.45 |
| | 6.7 | | $ | 97 |
| Expected to vest at January 31, 2015 | 1,132 |
| | $ | 18.35 |
| | 8.1 | | $ | 47 |
| Exercisable at January 31, 2015 | 2,310 |
| | $ | 18.52 |
| | 6.1 | | $ | 49 |
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| Supplemental Options Data |
The following provides additional information regarding the Company's stock options: | | | | | | | | 2014 | | 2013 | | 2012 | | (in thousands, except per share amounts) | Weighted average grant date fair value of options granted | $8.49 | | $9.50 | | $12.75 | Total intrinsic value of options exercised | $— | | $1,001 | | $270 |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The fair value of stock options was estimated at the grant date using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:
| | | | | | | | | | | 2014 | | 2013 | | 2012 | Risk-free interest rate (1) | 1.86 | % | | 1.14 | % | | 1.12 | % | Price Volatility (2) | 53.7 | % | | 55.9 | % | | 55.9 | % | Expected term (years) (3) | 6.25 |
| | 6.20 |
| | 6.17 |
| Dividend yield (4) | — |
| | — |
| | — |
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| | (1) | Represents the yield on U.S. Treasury securities with a term consistent with the expected term of the stock options. |
| | (2) | For the first two years following the initial public offering of the Company's common stock, this was based on the historical volatility of selected comparable companies over a period consistent with the expected term of the stock options because the Company had a limited history of being publicly traded. Comparable companies were selected primarily based on industry, stage of life cycle, and size. Beginning with the second anniversary of the IPO in May 2012, the Company began using its own volatility as an additional input in the determination of expected volatility. |
| | (3) | Calculated utilizing the “simplified” methodology prescribed by SAB No. 107 due to the lack of historical exercise data necessary to provide a reasonable basis upon which to estimate the term. |
| | (4) | The Company does not currently plan on paying regular dividends. |
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| Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
The Company's activity with respect to RSUs and restricted stock, including awards with performance conditions, for 2014 was as follows: | | | | | | | | Number of Shares | Grant Date Weighted Average Fair Value | | (in thousands, except per share amounts) | Unvested, February 1, 2014 | 1,487 |
| $ | 19.29 |
| Granted* | 778 |
| $ | 15.68 |
| Vested | (718 | ) | $ | 18.66 |
| Forfeited | (112 | ) | $ | 18.08 |
| Unvested, January 31, 2015 | 1,435 |
| $ | 17.75 |
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