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Leases (Tables)

3 Months Ended

Jan. 31, 2020

Leases included in the Condensed Consolidated Balance Sheets were as follows:



	Classification	As of January 31, 2020
Operating leases:
Operating ROU Assets	Operating right-of-use assets	$	50,148
Operating lease liabilities	Operating lease liabilities and Long-term operating lease liabilities	71,956
Finance leases:
Buildings, gross	Equipment, building, furniture and fixtures, net	$	71,235
Less: accumulated depreciation	Equipment, building, furniture and fixtures, net	(14,548		)
Buildings, net		$	56,687
Finance lease liabilities	Accrued liabilities and other short-term obligations and other long-term obligations	$	66,831

As of January 31, 2020, the weighted average remaining lease terms and weighted average discount rates for operating and finance leases were as follows:




Weighted-average remaining lease term in years:
Operating leases	4.91
Finance leases	12.62
Weighted-average discount rates:
Operating leases	2.39	%
Finance leases	7.56	%

Components of Lease Expense

The components of lease expense included in the Condensed Consolidated Statement of Operations were as follows:



		Three months ended
	Classification	January 31, 2020
Operating lease costs	Operating expense	$	4,457
Finance lease cost:
Amortization of finance ROU asset	Operating expense	1,140
Interest on finance lease liabilities	Interest expense	1,244
Total finance lease cost		2,384
Non-capitalized lease cost	Operating expense	621
Variable lease cost⁽¹⁾	Operating expense	1,311
Net lease cost⁽²⁾		$	8,773

(1) Variable lease costs includes expenses relating to insurance, taxes, maintenance and other costs required by the applicable operating lease. Variable lease costs are determined by whether they are to be included in base rent and if amounts are based on a consumer price index.

(2) Excludes other operating expense of $4.3 million for the three months ended January 31, 2020, related to amortization of leasehold improvements.

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of January 31, 2020 were as follows:



	Operating Leases			Finance Leases			Total
Remaining fiscal 2020	$	15,778		$	7,512		$	23,290
2021	18,261			7,491			25,752
2022	13,440			7,932			21,372
2023	10,157			8,008			18,165
2024	8,052			8,024			16,076
Thereafter	12,205			64,616			76,821
Total lease payments	77,893			103,583			181,476
Less: Imputed interest	(5,937		)	(36,752		)	(42,689		)
Present value of lease liabilities	71,956			66,831			138,787
Less: Current portion of present value of minimum lease payments	(18,623		)	(2,710		)	(21,333		)
Long-term portion of present value of minimum lease payments	$	53,333		$	64,121		$	117,454

Finance Lease, Liability, Maturity

Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of January 31, 2020 were as follows:



	Operating Leases			Finance Leases			Total
Remaining fiscal 2020	$	15,778		$	7,512		$	23,290
2021	18,261			7,491			25,752
2022	13,440			7,932			21,372
2023	10,157			8,008			18,165
2024	8,052			8,024			16,076
Thereafter	12,205			64,616			76,821
Total lease payments	77,893			103,583			181,476
Less: Imputed interest	(5,937		)	(36,752		)	(42,689		)
Present value of lease liabilities	71,956			66,831			138,787
Less: Current portion of present value of minimum lease payments	(18,623		)	(2,710		)	(21,333		)
Long-term portion of present value of minimum lease payments	$	53,333		$	64,121		$	117,454

Future Minimum Rental Payments for Operating Leases

As of October 31, 2019, minimum aggregate rentals under operating leases were as follows:



	2020		2021		2022		2023		2024		Thereafter		Total
Operating leases⁽¹⁾	$	28,776	$	24,184	$	16,767	$	13,393	$	10,632	$	26,110	$	119,862

1) The amount for operating lease commitments above include estimated variable expenses relating to insurance, taxes, maintenance and other costs required by the applicable operating lease.