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Leases | 3 Months Ended
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Apr. 30, 2020
Leases [Abstract] |
Leases | Note 5. Leases We have entered into various non-cancellable operating lease agreements for certain of our offices and data centers with lease periods expiring primarily between fiscal years 2022 and 2029. Certain of these arrangements have free or escalating rent payment provisions and optional renewal or termination clauses. Our operating leases typically include variable lease payments, which are primarily comprised of common area maintenance and utility charges for our offices and power and network connections for our data centers, that are determined based on actual consumption. Our operating lease agreements do not contain any residual value guarantees, covenants, or other restrictions. We also entered into various finance lease arrangements to obtain servers and related equipment for our data center operations. These agreements are primarily for four years and certain of these arrangements have optional renewal or termination clauses. The leases are secured by the underlying leased servers and related equipment. We sublease certain floors of our Redwood City, San Francisco, and London offices. Our current subleases have total lease terms ranging from 31 to 96 months that will expire at various dates by fiscal year 2025. The components of lease cost, which were included in operating expenses in our condensed consolidated statements of operations, were as follows (in thousands):
|  | Three Months Ended |
|  | April 30, |
|  | 2020 |  |  | 2019 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of finance lease right-of-use assets |  | $ | 13,106 |  |  | $ | 8,623 |
Interest on finance lease liabilities |  |  | 1,526 |  |  |  | 685 |
Operating lease cost, gross |  |  | 13,117 |  |  |  | 11,791 |
Variable lease cost, gross |  |  | 2,724 |  |  |  | 2,868 |
Sublease income |  |  | (2,808 | ) |  |  | (2,764 | )
Total lease cost (1) |  | $ | 27,665 |  |  | $ | 21,203 |
(1) | Short-term lease cost was not material for the periods presented and is not included in the table above.
Supplemental cash flow information related to leases was as follows (in thousands):
|  | Three Months Ended |
|  | April 30, |
|  | 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flows for operating leases |  | $ | 13,514 |  |  | $ | 11,358 |
Operating cash flows for finance leases |  |  | 1,997 |  |  |  | 759 |
Financing cash flows for finance leases |  |  | 17,356 |  |  |  | 9,154 |
Right-of-use assets obtained in exchange of lease obligations (1) |  |  |  |  |  |  |  |
Operating leases |  | $ | 29,347 |  |  | $ | 229,355 |
Finance leases |  |  | 14,825 |  |  |  | 21,414 |
(1) | Amounts disclosed for the three months ended April 30, 2019 include the adoption impact of ASC Topic 842 on the opening balance sheet as of February 1, 2019.
Supplemental information related to the remaining lease term and discount rate was as follows:
|  | April 30, |
|  | 2020 |  |  | 2019 |
Weighted-average remaining lease term (in years) |  |  |  |  |  |  |  |
Operating leases |  |  | 6.29 |  |  |  | 7.22 |
Finance leases |  |  | 2.83 |  |  |  | 2.94 |
Weighted-average discount rate |  |  |  |  |  |  |  |
Operating leases |  |  | 5.26 | % |  |  | 5.39 | %
Finance leases |  |  | 4.42 | % |  |  | 3.62 | %
As of April 30, 2020, maturities of our operating and finance lease liabilities, which do not include short-term leases and variable lease payments, are as follows (in thousands):
Years ending January 31: |  | Operating Leases (1) |  |  | Finance Leases |
Remainder of 2021 |  | $ | 43,547 |  |  | $ | 44,672 |
2022 |  |  | 58,146 |  |  |  | 46,908 |
2023 |  |  | 46,657 |  |  |  | 37,448 |
2024 |  |  | 46,191 |  |  |  | 15,435 |
2025 |  |  | 30,411 |  |  |  | 137 |
Thereafter |  |  | 89,038 |  |  |  | — |
Total lease payments |  | $ | 313,990 |  |  | $ | 144,600 |
Less: imputed interest |  | $ | (49,033 | ) |  | $ | (9,181 | )
Present value of total lease liabilities |  | $ | 264,957 |  |  | $ | 135,419 |
(1) | Non-cancellable sublease proceeds for the remainder of the fiscal year ending January 31, 2021 and the fiscal years ending January 31, 2022, 2023, 2024, and 2025 of $6.7 million, $9.1 million, $8.3 million, $2.2 million, and $2.2 million, respectively, are not included in the table above.
As of April 30, 2020, we had an operating lease for one of our office spaces that had not commenced with aggregated undiscounted future payments of $9.4 million. This operating lease will commence during fiscal year 2021 and has a lease term of 6 years and therefore, we did not reflect this lease on the condensed consolidated balance sheet as of April 30, 2020 and in the tables above. We did not have any finance leases that have not yet commenced as of April 30, 2020. We establish assets and liabilities for the present value of estimated future costs to return certain of our leased facilities to their original condition. Such assets are depreciated over the lease period into operating expense, and the recorded liabilities are accreted to the future value of the estimated restoration costs. As of April 30, 2020 and 2019, we recorded $3.1 million and $2.7 million, respectively, in other long-term liabilities related to the present value of our estimated asset retirement obligation for our headquarters facility. The accretion expense, which was included in operating expenses in our condensed consolidated statements of operations, was not material for all periods presented.

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