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Leases (Tables)

9 Months Ended

Oct. 26, 2024

Leases [Abstract]

Lease Cost, Supplemental Balance Sheet, and Supplemental Cash Flows

The following table summarizes the components of lease cost recognized in the condensed consolidated statements of operations for the three and nine months ended October 26, 2024 and October 28, 2023 (dollars in thousands):

			For the Three Months Ended												For the Nine Months Ended
			October 26, 2024						October 28, 2023						October 26, 2024						October 28, 2023
Lease cost under long-term operating leases			$	12,026					$	9,795					$	33,389					$	28,426
Lease cost under short-term operating leases			4,537						5,745						12,917						17,845
Variable lease cost under short-term and long-term operating leases(1)			602						718						2,607						2,868
Total lease cost			$	17,165					$	16,258					$	48,913					$	49,139

(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 $107.7 million as of October 26, 2024 and $76.1 million as of January 27, 2024. Supplemental balance sheet information related to these liabilities is as follows:

			October 26, 2024						January 27, 2024
Weighted average remaining lease term			4.7 years						2.8 years
Weighted average discount rate			5.7		%				5.0		%

Supplemental cash flow information related to our long-term operating lease liabilities for the three and nine months ended October 26, 2024 and October 28, 2023 is as follows (dollars in thousands):

			For the Three Months Ended												For the Nine Months Ended
			October 26, 2024						October 28, 2023						October 26, 2024						October 28, 2023
Cash paid for amounts included in the measurement of lease liabilities			$	12,063					$	10,612					$	31,266					$	27,692
Operating lease right-of-use assets obtained in exchange for operating lease liabilities			$	38,530					$	10,836					$	61,452					$	33,447

Operating Lease Liability Maturity Schedule

As of October 26, 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						$	9,665
2026						32,992
2027						26,930
2028						16,000
2029						10,489
2030						6,016
Thereafter						25,222
Total lease payments						127,314
Less: imputed interest						(19,616)
Total						$	107,698

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-4

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- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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