v3.20.2
Leases
6 Months Ended
Jul. 31, 2020
Leases [Abstract]  
Leases Leases
Operating Leases
The Company has entered into non-cancelable operating lease agreements with various expiration dates through October 2026. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.
Total operating lease costs was $2.7 million and $5.0 million, excluding short-term leases costs and variable lease costs for the three and six months ended July 31, 2020, respectively. There was no sublease income for the three and six months ended July 31, 2020. Total lease expense recognized prior to the adoption of Topic 842 were $2.2 million and $4.0 million for the three and six months ended July 31, 2019, respectively.
For the three and six months ended July 31, 2020, cash paid for amounts included in the measurement of operating lease liabilities were $3.0 million and $5.4 million, respectively. Operating lease liabilities arising from obtaining operating right of-use assets was $6.2 million for the three and six months ended July 31, 2020.
As of July 31, 2020, the weighted-average remaining lease term is 4.6 years, and the weighted-average discount rate is 5.9%.
The component of lease costs was as follows:
Three Months Ended July 31, 2020Six Months Ended July 31, 2020
(in thousands)
Lease cost
Operating lease cost$2,671 $4,954 
Short-term lease cost492 985 
Variable lease cost518 1,354 
Total lease cost$3,681 $7,293 
As of July 31, 2020, the Company has not entered into any non-cancelable operating leases with a term greater than 12 months that have not yet commenced.
The maturities of the Company’s non-cancelable operating lease liabilities are as follows:
July 31, 2020
(in thousands)
Fiscal 2021 (remaining six months)$4,262 
Fiscal 202211,413 
Fiscal 202310,856 
Fiscal 202410,785 
Fiscal 20259,934 
Thereafter4,151 
Total operating lease payments51,401 
Less: imputed interest6,624 
Present value of operating lease liabilities$44,777 
Future minimum payments under non-cancelable operating leases determined using the prior accounting guidance consisted of the following as of January 31, 2020:
Real Estate Arrangements
(in thousands)
Fiscal 2021$9,958 
Fiscal 20229,869 
Fiscal 20239,377 
Fiscal 20249,370 
Fiscal 20258,441 
Thereafter3,671 
Total$50,686