Subsequent Events |
3 Months Ended |
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Apr. 30, 2025 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Revolving Credit Facility In May 2025, we entered into a credit agreement with a syndicate of banks. The credit agreement provides for a secured revolving credit facility in an aggregate principal amount of $750.0 million, which amount may be increased by an additional $250.0 million subject to the terms of the credit agreement. This credit agreement supersedes and replaces the prior Credit Facility. The new credit facility matures in May 2030 and requires us to comply with customary affirmative and negative covenants. As of the date of this filing, there were no outstanding borrowings under the revolving credit facility. The facility is subject to customary fees for loan facilities of this type, including ongoing commitment fees at a rate between 0.10% and 0.30% per annum on the daily undrawn balance depending on certain conditions as provided in the credit agreement. Stock Repurchase Program In May 2025, our board of directors authorized an increase to its existing stock repurchase program for an additional amount of up to $1.0 billion of our outstanding common stock. The program has no minimum purchase commitment and no mandated end date. The repurchase program may be suspended or discontinued at any time at our discretion. The timing and the amount of any repurchased common stock will be determined by management based on its evaluation of market conditions and other factors. As of June 6, 2025, our total remaining authorization under our stock repurchase plan is up to $1.4 billion.
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