The Company indemnifies certain customers against liability arising from third‑party claims of intellectual property rights infringement related to the Company’s trademarks. These indemnities appear in the licensing agreements with the Company’s customers, are not limited in amount or duration and generally survive the expiration of the contracts. The Company is unable to determine a range of estimated losses that it could incur related to such indemnities since the amount of any potential liabilities cannot be determined until an infringement claim has been made.

The Company is involved from time to time in various claims and other matters incidental to the Company’s business, the resolution of which is not presently expected to have a material adverse effect on the Company’s financial position, results of operations or liquidity. Estimated reserves for contingent liabilities, including threatened or pending litigation, are recorded as liabilities in the financial statements when the outcome of these matters is deemed probable and the liability is reasonably estimable.

The Company has non-cancelable operating lease agreements with various expiration dates for office space and equipment. Certain lease agreements include options to renew, which are not reasonably certain to be exercised and therefore are not factored into our determination of the present value of lease obligations.

Operating lease costs are included as a component of selling, general and administrative expense and were $0.1 million and $0.3 million, excluding variable lease costs and sublease income, for the three and nine months ended October 31, 2020. Operating lease costs were $0.1 million and $0.4 million for the three and nine months ended November 2, 2019. Cash paid for operating lease obligations is consistent with operating lease costs for the period.

As of October 31, 2020, the weighted-average remaining lease term is 3.9 years, and the weighted-average IBR is 8.8%. The right-of-use assets as of October 31, 2020 was $1.3 million. Future minimum commitments under non-cancelable operating leases as of October 31, 2020 are as follows:

(In thousands)	Operating Leases
Remainder of Fiscal 2021	$	111
Fiscal 2022		540
Fiscal 2023		425
Fiscal 2024		434
Fiscal 2025		333
Total future minimum lease payments		1,843
Less imputed interest		(283	)
Present value of operating lease liabilities	$	1,560