Leases (Notes)

6 Months Ended

Jul. 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 8 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 and six months ended July 30, 2022 and July 31, 2021 (dollars in thousands):


	For the Three Months Ended				For the Six Months Ended
	July 30, 2022		July 31, 2021		July 30, 2022		July 31, 2021
Lease cost under long-term operating leases	$	8,461	$	8,796	$	16,927	$	17,426
Lease cost under short-term operating leases	6,460		6,064		12,715		11,255
Variable lease cost under short-term and long-term operating leases(1)	999		696		2,020		1,940
Total lease cost	$	15,920	$	15,556	$	31,662	$	30,621

(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 $64.6 million as of July 30, 2022 and $61.2 million as of January 29, 2022. Supplemental balance sheet information related to these liabilities is as follows:


	July 30, 2022		January 29, 2022
Weighted average remaining lease term	3.0 years		3.1 years
Weighted average discount rate	3.5	%	3.8	%

Supplemental cash flow information related to our long-term operating lease liabilities for the three and six months ended July 30, 2022 and July 31, 2021 is as follows (dollars in thousands):


	For the Three Months Ended				For the Six Months Ended
	July 30, 2022		July 31, 2021		July 30, 2022		July 31, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	9,582	$	6,835	$	17,470	$	17,586
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$	10,555	$	7,859	$	19,457	$	19,569

As of July 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	$	14,466
2024	24,646
2025	16,826
2026	8,286
2027	3,865
Thereafter	1,784
Total lease payments	69,873
Less: imputed interest	(5,245)
Total	$	64,628

As of July 30, 2022, the Company had additional operating leases with total leases costs of $0.4 million, which will commence during the third quarter of fiscal 2023.