Leases

6 Months Ended

Apr. 30, 2020

The Company has operating lease arrangements for office space, data center, equipment and other corporate assets. These leases have various expiration dates through October 31, 2031, some of which include options to extend the leases for up to 10 years. Because the Company is not reasonably certain to exercise these renewal options, the

options are not considered in determining the lease term and associated potential option payments are excluded from lease payments.

The components of the Company's lease expense during the period presented are as follows:



	Three Months Ended April 30,		Six Months Ended April 30,
	2020		2020
	(in thousands)
Operating lease expense	$	23,281	$	46,482
Variable lease expense ⁽¹⁾	1,050		1,992
Total lease expense	$	24,331	$	48,474

⁽¹⁾ Variable lease expense includes payments to lessors that are not fixed or determinable at lease commencement date. These payments primarily consist of maintenance, property taxes, insurance and variable indexed based payments.

Supplemental cash flow information during the period presented is as follows:



	Three Months Ended April 30,		Six Months Ended April 30,
	2020		2020
	(in thousands)
Cash paid for amounts included in the measurement of operating lease liabilities	$	17,925	$	34,129
ROU assets obtained in exchange for operating lease liabilities	$	25,008	$	29,783

Lease term and discount rate information related to the Company's operating leases as of the end of the period presented are as follows:



	April 30, 2020
Weighted-average remaining lease term (in years)	8.94
Weighted-average discount rate	2.57	%

The following represents the maturities of the Company's future lease payments due under operating leases as of April 30, 2020:



	Lease Payments
Fiscal year	(in thousands)
Remainder of fiscal 2020	$	43,314
2021	82,895
2022	72,464
2023	56,994
2024	52,850
Thereafter	294,500
Total future minimum lease payments	603,017
Less: Imputed interest	68,458
Total lease liabilities	$	534,559

As of April 30, 2020, the Company has no additional operating leases for facilities that have not yet commenced.

As of October 31, 2019, the future minimum lease payments due under non-cancellable operating leases were as follows:



	Minimum Lease Payments⁽¹⁾
	(in thousands)
Fiscal year
2020	$	79,286
2021	79,703
2022	69,477
2023	53,909
2024	48,730
Thereafter	291,494
Total	$	622,599

⁽¹⁾ Amounts based on Topic 840, Leases.