Leases (Notes)

3 Months Ended

Apr. 30, 2022

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 three months ended April 30, 2022 and May 1, 2021 (dollars in thousands):


	For the Three Months Ended
	April 30, 2022		May 1, 2021
Lease cost under long-term operating leases	$	8,466	$	8,630
Lease cost under short-term operating leases	6,255		5,191
Variable lease cost under short-term and long-term operating leases(1)	1,021		1,245
Total lease cost	$	15,742	$	15,066

(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 $62.0 million as of April 30, 2022 and $61.2 million as of January 29, 2022. Supplemental balance sheet information related to these liabilities is as follows:


	April 30, 2022		January 29, 2022
Weighted average remaining lease term	3.1 years		3.1 years
Weighted average discount rate	3.6	%	3.8	%

Supplemental cash flow information related to our long-term operating lease liabilities as of April 30, 2022 and May 1, 2021 is as follows (dollars in thousands):


	For the Three Months Ended
	April 30, 2022		May 1, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	9,489	$	10,650
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$	8,901	$	11,710

As of April 30, 2022, 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 2023	$	20,757
2024	20,864
2025	13,354
2026	6,642
2027	3,427
Thereafter	1,632
Total lease payments	66,676
Less: imputed interest	(4,654)
Total	$	62,022

As of April 30, 2022, the Company had additional operating leases with total leases costs of $1.0 million, which will commence during the second quarter of fiscal 2023.