Leases

3 Months Ended

Jan. 31, 2024

Leases [Abstract]

Leases

Leases

We have operating lease arrangements for office space, data center, equipment and other corporate assets. These leases have various expiration dates through December 31, 2042, some of which include options to extend the leases for up to 10 years. Because we are 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 our lease expense during the period presented are as follows:

	Three Months Ended January 31,
	2024		2023
	(in thousands)
Operating lease expense (1)	$	23,595	$	24,348
Variable lease expense (2)	5,627		4,325
Total lease expense	$	29,222	$	28,673

(1) Operating lease expense includes immaterial amounts of short-term leases, net of sublease income.

(2) 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 January 31,
	2024		2023
	(in thousands)
Cash paid for amounts included in the measurement of operating lease liabilities	$	24,172	$	21,053
ROU assets obtained in exchange for operating lease liabilities	$	5,004	$	44,339

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

	As of
	January 31, 2024		October 31, 2023
Weighted-average remaining lease term (in years)	8.15		8.34
Weighted-average discount rate	2.52	%	2.50	%

The following table represents the maturities of our future lease payments due under operating leases as of January 31, 2024:

	Lease Payments
Fiscal year	(in thousands)
Remainder of fiscal 2024	$	76,588
2025	105,503
2026	94,057
2027	91,465
2028	77,332
2029 and thereafter	282,776
Total future minimum lease payments	727,721
Less: Imputed interest	74,712
Total lease liabilities	$	653,009

In addition, certain facilities owned by us were leased to third parties under non-cancellable operating lease agreements. These leases have annual escalating payments and have expiration dates through March 31, 2031 in accordance with the terms and conditions of the existing agreement. The lease receipts from owned facilities, including sublease income from other facilities leased by us, due to us as of January 31, 2024 are as follows:

	Lease Receipts
Fiscal year	(in thousands)
Remainder of fiscal 2024	$	18,518
2025	25,351
2026	26,230
2027	27,376
2028	27,557
2029 and thereafter	56,491
Total	$	181,523