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Leases | 3 Months Ended
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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 |  |  |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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