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Leases | 6 Months Ended
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Jan. 31, 2022
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 January 31, |  | Six Months Ended January 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Operating lease cost 1 | $ | 3,933 |  |  | $ | 4,500 |  |  | $ | 8,185 |  |  | $ | 8,872 |
Variable lease cost | 1,442 |  |  | 1,165 |  |  | 2,850 |  |  | 2,531 |
Sublease income | (356) |  |  | (397) |  |  | (746) |  |  | (792) |
Net operating lease cost | $ | 5,019 |  |  | $ | 5,268 |  |  | $ | 10,289 |  |  | $ | 10,611 |
(1) Lease expense for leases with an initial term of 12 months or less is excluded from the table above and was $0.3 million and $0.3 million for the three months ended January 31, 2022 and 2021, respectively, and $0.5 million and $0.6 million for the six months ended January 31, 2022 and 2021, respectively. Future operating lease payments as of January 31, 2022 were as follows (in thousands):
Fiscal Year Ending July 31, |
2022 (remainder of fiscal year) | $ | 7,445 |
2023 | 16,711 |
2024 | 16,615 |
2025 | 16,857 |
2026 | 17,006 |
Thereafter | 67,609 |
Total future lease payments | 142,243 |
Less imputed interest | (22,063) |
Total lease liability balance | $ | 120,180 |
Supplemental information related to leases was as follows (in thousands, except for lease term and discount rate):
| January 31, 2022 |  | July 31, 2021
Operating lease assets | $ | 91,780 |  |  | $ | 97,447 |
Current portion of lease liabilities | $ | 11,239 |  |  | $ | 11,624 |
Non-current portion of lease liabilities | 108,941 |  |  | 115,374 |
Total lease liabilities | $ | 120,180 |  |  | $ | 126,998 |
Weighted average remaining lease term (years) | 8.30 |  | 8.74
Weighted average discount rate | 4.10 | % |  | 4.20 | %
Supplemental cash and non-cash information related to operating leases was as follows (in thousands):
| Three Months Ended January 31, |  | Six Months Ended January 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Cash payments for operating leases | $ | 4,411 |  |  | $ | 4,082 |  |  | $ | 10,345 |  |  | $ | 9,367 |
Operating lease assets obtained in exchange for lease liabilities | $ | 18 |  |  | $ | (2,703) |  |  | $ | 433 |  |  | $ | 6,514 |
In March 2020, the Company entered into a new lease agreement for office space in Dublin, Ireland which commenced in July 2020. In December 2020, the Company exercised the early termination option that was included in the new lease agreement, which terminated the agreement for the existing office space in Dublin, Ireland, and resulted in a reduction of the operating lease asset and lease liability of approximately $2.9 million.

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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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