Leases (Notes)

9 Months Ended

Oct. 30, 2021

We lease the majority of our office facilities as well as certain equipment, all of which are accounted for as operating leases. These leases have remaining terms ranging from less than 1 year to approximately 9 years. Some leases include options to extend the lease for up to 5 years and others include options to terminate.

The following table summarizes the components of lease cost recognized in the condensed consolidated statements of operations for the nine months ended October 30, 2021 and October 24, 2020 (dollars in thousands):


	For the Three Months Ended				For the Nine Months Ended
	October 30, 2021		October 24, 2020		October 30, 2021		October 24, 2020
Lease cost under long-term operating leases	$	8,526	$	8,804	$	25,952	$	26,238
Lease cost under short-term operating leases	6,452		6,624		17,707		22,616
Variable lease cost under short-term and long-term operating leases(1)	756		743		2,696		3,076
Total lease cost	$	15,734	$	16,171	$	46,355	$	51,930

(1) Variable lease cost primarily includes insurance, maintenance, and other operating expenses related to our leased office facilities.

Our operating lease liabilities related to long-term operating leases were $61.8 million as of October 30, 2021 and $63.1 million as of January 30, 2021. Supplemental balance sheet information related to these liabilities is as follows:


	October 30, 2021		January 30, 2021
Weighted average remaining lease term	3.1 years		3.2 years
Weighted average discount rate	4.0	%	4.6	%

Supplemental cash flow information related to our long-term operating lease liabilities as of October 30, 2021 and October 24, 2020 is as follows (dollars in thousands):


	For the Three Months Ended				For the Nine Months Ended
	October 30, 2021		October 24, 2020		October 30, 2021		October 24, 2020
Cash paid for amounts included in the measurement of lease liabilities	$	9,670	$	8,489	$	25,739	$	27,158
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$	3,075	$	3,497	$	22,644	$	21,235

As of October 30, 2021, maturities of our lease liabilities under our long-term operating leases for the next five fiscal years and thereafter are as follows (dollars in thousands):


Fiscal Year	Amount
Remainder of 2022	$	6,617
2023	25,817
2024	16,346
2025	9,811
2026	4,583
Thereafter	2,839
Total lease payments	66,013
Less: imputed interest	(4,188)
Total	$	61,825

As of October 30, 2021, the Company had additional operating leases with total leases costs of $4.0 million that have not yet commenced. Of this amount, $1.3 million and $2.7 million will commence in the fourth quarter of fiscal 2022 and during fiscal 2023, respectively.