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Leases
 3 Months Ended
Aug. 31, 2023
Leases [Abstract]  
Leases Leases
The Company enters into leases for hosting equipment, office space, and land. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company presents operating and finance right of use assets and liabilities separately on the balance sheet as their own captions, with the liabilities split between current and long-term, respectively.
Components of lease expense were as follows (in thousands):
Three months ended
August 31, 2023August 31, 2022
Operating lease cost:
Operating lease expense$485$82
Short-term lease expense8263
Total operating lease cost567145
Finance lease expense:
Amortization of right-of-use assets(1)
5,630298
Interest on lease liabilities1,082109
Total finance lease cost6,712407
Sublease Income(23)(27)
Total net lease cost$7,256$525
(1)    Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues and selling, general and administrative expense in the condensed consolidated statements of operations.
The following table represents the Company’s future minimum lease payments as of May 31, 2023:
Operating LeasesFinance LeasesTotal
Remainder of FY24$1,921 $20,185$22,106 
FY252,681 25,67828,359 
FY262,782 4,3397,121 
FY272,536 1882,724 
FY282,336 1802,516 
Thereafter1,398 89,94491,342 
Total lease payments13,654 140,514154,168 
Less: imputed interest(2,274)(91,972)(94,246)
Total lease liabilities11,38048,54259,922 
Less: Current portion of lease liability(1,807)(23,471)(25,278)
Long-term portion of lease liability$9,573 $25,071$34,644 
Supplemental cash flow and other information related to leases is as follows:
Three Months Ended
August 31, 2023August 31, 2022
Weighted-average years remaining (in years):
Finance leases8.4 years51.0 years
Operating leases5.0 years4.2 years
Weighted-average discount rate:
Finance leases8.5 %8.0 %
Operating leases7.7 %12.5 %
The Company has entered into operating leases which are executed but not yet commenced with total minimum payments of approximately $143.4 million to support the Company's Cloud service business. The payments are for various leases with various lease terms ranging from 60 months to 84 months.
Leases Leases
The Company enters into leases for hosting equipment, office space, and land. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company presents operating and finance right of use assets and liabilities separately on the balance sheet as their own captions, with the liabilities split between current and long-term, respectively.
Components of lease expense were as follows (in thousands):
Three months ended
August 31, 2023August 31, 2022
Operating lease cost:
Operating lease expense$485$82
Short-term lease expense8263
Total operating lease cost567145
Finance lease expense:
Amortization of right-of-use assets(1)
5,630298
Interest on lease liabilities1,082109
Total finance lease cost6,712407
Sublease Income(23)(27)
Total net lease cost$7,256$525
(1)    Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues and selling, general and administrative expense in the condensed consolidated statements of operations.
The following table represents the Company’s future minimum lease payments as of May 31, 2023:
Operating LeasesFinance LeasesTotal
Remainder of FY24$1,921 $20,185$22,106 
FY252,681 25,67828,359 
FY262,782 4,3397,121 
FY272,536 1882,724 
FY282,336 1802,516 
Thereafter1,398 89,94491,342 
Total lease payments13,654 140,514154,168 
Less: imputed interest(2,274)(91,972)(94,246)
Total lease liabilities11,38048,54259,922 
Less: Current portion of lease liability(1,807)(23,471)(25,278)
Long-term portion of lease liability$9,573 $25,071$34,644 
Supplemental cash flow and other information related to leases is as follows:
Three Months Ended
August 31, 2023August 31, 2022
Weighted-average years remaining (in years):
Finance leases8.4 years51.0 years
Operating leases5.0 years4.2 years
Weighted-average discount rate:
Finance leases8.5 %8.0 %
Operating leases7.7 %12.5 %
The Company has entered into operating leases which are executed but not yet commenced with total minimum payments of approximately $143.4 million to support the Company's Cloud service business. The payments are for various leases with various lease terms ranging from 60 months to 84 months.