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Leases | 3 Months Ended
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Apr. 27, 2024
Leases [Abstract] |
Leases | Leases We lease the majority of our office facilities as well as certain equipment, all of which are accounted for as operating leases. These leases have remaining terms ranging from less than 1 year to approximately 6 years. Some leases include options to extend the lease for up to 5 years and others include options to terminate. The following table summarizes the components of lease cost recognized in the condensed consolidated statements of operations for the three months ended April 27, 2024 and April 29, 2023 (dollars in thousands):
| For the Three Months Ended |  |  |
| April 27, 2024 |  | April 29, 2023 |  |  |  |  |
Lease cost under long-term operating leases | $ | 10,460 |  |  | $ | 9,280 |  |  |  |  |  |
Lease cost under short-term operating leases | 3,994 |  |  | 5,886 |  |  |  |  |  |
Variable lease cost under short-term and long-term operating leases(1) | 1,092 |  |  | 1,122 |  |  |  |  |  |
Total lease cost | $ | 15,546 |  |  | $ | 16,288 |  |  |  |  |  |
(1) Variable lease cost primarily includes insurance, maintenance, and other operating expenses related to our leased office facilities. Our operating lease liabilities related to long-term operating leases were $80.0 million as of April 27, 2024 and $76.1 million as of January 27, 2024. Supplemental balance sheet information related to these liabilities is as follows:
| April 27, 2024 |  | January 27, 2024
Weighted average remaining lease term | 2.9 years |  | 2.8 years
Weighted average discount rate | 5.2 | % |  | 5.0 | %
Supplemental cash flow information related to our long-term operating lease liabilities for the three months ended April 27, 2024 and April 29, 2023 is as follows (dollars in thousands):
| For the Three Months Ended |  |  |
| April 27, 2024 |  | April 29, 2023 |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities | $ | 11,053 |  |  | $ | 10,330 |  |  |  |  |  |
Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $ | 13,586 |  |  | $ | 13,935 |  |  |  |  |  |
As of April 27, 2024, maturities of our lease liabilities under our long-term operating leases for the next five fiscal years and thereafter are as follows (dollars in thousands):
Fiscal Year |  | Amount
Remainder of 2025 |  | $ | 27,770 |
2026 |  | 28,765 |
2027 |  | 17,000 |
2028 |  | 8,134 |
2029 |  | 3,930 |
2030 |  | 604 |
Thereafter |  | 12 |
Total lease payments |  | 86,215 |
Less: imputed interest |  | (6,241) |
Total |  | $ | 79,974 |
As of April 27, 2024, the Company had an operating lease that is expected to commence in fiscal 2025 with a term of 130 months and initial annual rent of $3.2 million. This lease will replace certain other property leases that expire in fiscal 2026. Another lease is also expected to commence in fiscal 2025 with a term of 36 months and annual rent of $0.2 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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