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LEASES (Tables)
 9 Months Ended
Jul. 31, 2021
Leases [Abstract]  
Leases Included in the Balance Sheet
Leases included in the Condensed Consolidated Balance Sheets were as follows (in thousands):
ClassificationAs of July 31, 2021As of October 31, 2020
Operating leases:
Operating ROU assetsOperating right-of-use assets$48,937 $57,026 
Operating lease liabilities
Operating lease liabilities and Long-term operating lease liabilities70,320 80,450 
Finance leases:
Buildings, gross
Equipment, building, furniture and fixtures, net$75,616 $70,791 
Less: accumulated depreciation
Equipment, building, furniture and fixtures, net(22,664)(17,837)
Buildings, net
$52,952 $52,954 
Finance lease liabilities
Accrued liabilities and other short-term obligations and other long-term obligations$66,530 $64,401 
The weighted average remaining lease terms and weighted average discount rates for operating and finance leases were as follows:
As of July 31, 2021
As of October 31, 2020
Weighted-average remaining lease term in years:
Operating leases
4.354.87
Finance leases
10.9711.71
Weighted-average discount rates:
Operating leases
2.75 %2.82 %
Finance leases
7.56 %7.56 %
Components of Lease Expense
The components of lease expense included in the Condensed Consolidated Statement of Operations were as follows (in thousands):
Quarter EndedNine Months Ended
July 31,August 1,July 31,August 1,
Classification2021202020212020
Operating lease costsOperating expense$4,085 $4,234 $12,516 $13,435 
Finance lease cost:
Amortization of finance ROU asset
Operating expense1,224 1,097 3,580 3,330 
Interest on finance lease liabilities
Interest expense1,243 1,162 3,671 3,574 
Total finance lease cost2,467 2,259 7,251 6,904 
Non-capitalized lease costOperating expense216 883 842 2,211 
Variable lease cost(1)
Operating expense1,393 1,265 4,444 3,900 
Net lease cost(2)
$8,161 $8,641 $25,053 $26,450 

(1) Variable lease costs include 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 $2.3 million and $2.2 million for the third quarter of fiscal 2021 and 2020, respectively and $7.2 million and $8.7 million for the nine months ended July 31, 2021 and August 1, 2020, respectively, 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 July 31, 2021 were as follows (in thousands):
Operating LeasesFinance LeasesTotal
Remaining fiscal 2021$5,472 $8,146 $13,618 
202219,862 8,500 28,362 
202316,087 8,500 24,587 
202413,768 8,620 22,388 
20259,437 8,706 18,143 
Thereafter10,272 55,532 65,804 
Total lease payments74,898 98,004 172,902 
Less: Imputed interest
(4,578)(31,474)(36,052)
Present value of lease liabilities70,320 66,530 136,850 
Less: Current portion of present value of minimum lease payments(19,085)(3,395)(22,480)
Long-term portion of present value of minimum lease payments$51,235 $63,135 $114,370 
Finance Lease, Liability, Maturity
Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of July 31, 2021 were as follows (in thousands):
Operating LeasesFinance LeasesTotal
Remaining fiscal 2021$5,472 $8,146 $13,618 
202219,862 8,500 28,362 
202316,087 8,500 24,587 
202413,768 8,620 22,388 
20259,437 8,706 18,143 
Thereafter10,272 55,532 65,804 
Total lease payments74,898 98,004 172,902 
Less: Imputed interest
(4,578)(31,474)(36,052)
Present value of lease liabilities70,320 66,530 136,850 
Less: Current portion of present value of minimum lease payments(19,085)(3,395)(22,480)
Long-term portion of present value of minimum lease payments$51,235 $63,135 $114,370