Note 11 – Leases

We enter into lease contracts for certain of our facilities at various locations worldwide. Our leases have remaining lease terms of one to six years.

Balance sheet and other information related to our leases is as follows:


Operating Leases (In thousands)	Balance Sheet Classification		April 29, 2023		January 31, 2023
Lease Assets		Right of Use Assets	$	858	$	794
Lease Liabilities – Current		Other Liabilities and Accrued Expenses		312	$	275
Lease Liabilities – Long Term		Lease Liabilities		581	$	555

Lease cost information is as follows:

Three Months Ended

Operating Leases

(In thousands)

Statement of Income Classification

April 29,
2023

April 30,
2022

Operating Lease Costs

General and Administrative Expense

133

113

Maturities of operating lease liabilities are as follows:


(In thousands)	April 29, 2023
2024, remaining	$	263
2025		258
2026		199
2027		151
2028		93
Thereafter		—

Total Lease Payments		964
Less: Imputed Interest		(71	)

Total Lease Liabilities	$	893

As of April 29, 2023, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 3.5 years and 4.37%, respectively. We calculated the weighted-average discount rate using incremental borrowing rates, which equal the rates of interest that we would pay to borrow funds on a fully collateralized basis over a similar term.

Supplemental cash flow information related to leases is as follows:


	Three Months Ended
(In thousands)	April 29, 2023		April 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	93	$	83