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Leases | 3 Months Ended
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Oct. 31, 2021
Leases [Abstract] |
Leases | Leases The Company's lease obligations consist of operating leases for office facilities and equipment, with lease periods expiring through fiscal year 2032. Some leases include one or more options to renew. Lease renewals are not assumed in the determination of the lease term until the exercise of the renewal option is deemed to be reasonably certain. Components of operating lease costs were as follows (in thousands):
| Three Months Ended October 31, |  |
| 2021 |  | 2020 |  |  |  |
Operating lease cost 1 | $ | 4,252 |  |  | $ | 4,372 |  |  |  |  |
Variable lease cost | 1,408 |  |  | 1,366 |  |  |  |  |
Sublease income | (390) |  |  | (395) |  |  |  |  |
Net operating lease cost | $ | 5,270 |  |  | $ | 5,343 |  |  |  |  |
(1) Lease expense for leases with an initial term of 12 months or less is excluded from the table above and was $0.2 million and $0.3 million for the three months ended October 31, 2021 and 2020, respectively. Future operating lease payments as of October 31, 2021 were as follows (in thousands):
Fiscal Year Ending July 31, |
2022 (remainder of fiscal year) | $ | 11,936 |
2023 | 16,821 |
2024 | 16,721 |
2025 | 16,967 |
2026 | 17,115 |
Thereafter | 68,198 |
Total future lease payments | 147,758 |
Less imputed interest | (24,146) |
Total lease liability balance | $ | 123,612 |
Supplemental information related to leases was as follows (in thousands, except for lease term and discount rate):
| October 31, 2021 |  | July 31, 2021
Operating lease assets | $ | 94,568 |  |  | $ | 97,447 |
Current portion of lease liabilities | $ | 11,312 |  |  | $ | 11,624 |
Non-current portion of lease liabilities | 112,300 |  |  | 115,374 |
Total lease liabilities | $ | 123,612 |  |  | $ | 126,998 |
Weighted average remaining lease term (years) | 8.52 |  | 8.74
Weighted average discount rate | 4.20 | % |  | 4.20 | %
Supplemental cash and non-cash information related to operating leases was as follows (in thousands):
| Three Months Ended October 31, |  |
| 2021 |  | 2020 |  |  |  |
Cash payments for operating leases | $ | 5,934 |  |  | $ | 5,285 |  |  |  |  |
Operating lease assets obtained in exchange for lease liabilities | $ | 415 |  |  | $ | 9,217 |  |  |  |  |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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