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Leases (Tables) | 3 Months Ended
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Oct. 31, 2023
Leases [Abstract] |
Components of lease expense and additional information | The components of lease expense are as follows:
|  |  | Three months ended October 31,
|  |  |  |  | 2023 |  | 2022 |  |
Finance lease expense: |  |  |  |  |  |  |  |  |
Amortization of ROU assets |  |  |  |  | $ | — |  |  | 3,000 |  |  |
Operating lease expense |  |  |  |  | 2,258,000 |  |  | 2,837,000 |  |  |
Short-term lease expense |  |  |  |  | 108,000 |  |  | 101,000 |  |  |
Variable lease expense |  |  |  |  | 1,029,000 |  |  | 1,087,000 |  |  |
Sublease income |  |  |  |  | (17,000) |  |  | (17,000) |  |  |
Total lease expense |  |  |  |  | $ | 3,378,000 |  |  | 4,011,000 |  |  |
Additional information related to leases is as follows:
| Three months ended October 31,
| 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating leases - Operating cash outflows | $ | 2,319,000 |  |  | $ | 2,906,000 |
Finance leases - Financing cash outflows | — |  |  | 3,000 |
ROU assets obtained in the exchange for lease liabilities (non-cash): |  |  |
Operating leases | $ | 20,000 |  |  | $ | 2,573,000 |
Future cash flows relating to operating lease liabilities | The following table is a reconciliation of future cash flows relating to operating lease liabilities presented on our Condensed Consolidated Balance Sheet as of October 31, 2023:
Remainder of fiscal 2024 | $ | 6,571,000 |  |  |  |  |
Fiscal 2025 | 8,089,000 |  |  |  |  |
Fiscal 2026 | 6,652,000 |  |  |  |  |
Fiscal 2027 | 4,546,000 |  |  |  |  |
Fiscal 2028 | 3,812,000 |  |  |  |  |
Thereafter | 18,793,000 |  |  |  |  |
Total future undiscounted cash flows | 48,463,000 |  |  |  |  |
Less: Present value discount | 5,668,000 |  |  |  |  |
Lease liabilities | $ | 42,795,000 |  |  |  |  |
Weighted-average remaining lease terms (in years) | 8.08 |  |  |  |
Weighted-average discount rate | 3.49% |  |  |  |
We lease our Melville, New York production facility from a partnership controlled by our former CEO. Lease payments made during the three months ended October 31, 2023 and 2022 were $180,000 and $171,000, respectively. The current lease provides for our use of the premises as they exist through December 2031. The annual rent of the facility for calendar year 2024 is $733,000 and is subject to customary adjustments. We have a right of first refusal in the event of a sale of the facility.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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