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Leases (Tables) | 6 Months Ended
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Jul. 31, 2020
Leases [Abstract] |
Quantitative Information of Leases | In accordance with ASC 842, quantitative information regarding our leases is as follows:
| Three-Months Ended |  |  |  | Six-Months Ended |  |
| 7/31/2020 |  | 7/31/2019 |  | 7/31/2020 |  | 7/31/2019
| (in thousands, except lease term and discount rate) |  |  |  |  |  |
Operating lease cost | $ | 1,472 |  |  | $ | 1,320 |  |  | $ | 2,912 |  |  | $ | 2,700 |
Short-term lease cost | 124 |  |  | 82 |  |  | 160 |  |  | 136 |
Short-term sublease income | (10) |  |  | (20) |  |  | (20) |  |  | (30) |
Variable lease cost (1) | (85) |  |  | 61 |  |  | 370 |  |  | 509 |
Total lease cost | $ | 1,501 |  |  | $ | 1,443 |  |  | $ | 3,422 |  |  | $ | 3,315 |
Other operating leases information: |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  | $ | 2,201 |  |  | $ | 2,611 |
Right-of-use assets obtained in exchange for new lease liabilities |  |  |  |  | $ | 398 |  |  | $ | 1,036 |
Weighted-average remaining lease term (years) |  |  |  |  | 4.5 |  | 5.4
Weighted-average discount rate |  |  |  |  | 6.4 | % |  | 6.38 | %
(1) Subsequent to the issuance of the Company’s condensed consolidated financial statements as of July 31, 2019, management identified an immaterial correction related to the disclosure of certain variable lease payments. Variable lease expense for the three-months and six-months ended July 31, 2019 did not previously include $61,000 and $509,000, respectively of variable lease payments for property taxes, insurance and common area maintenance related to triple net leases. Management corrected the disclosure related to variable lease expense in the table above for the three-months and six-months ended July 31, 2019 and, except for this change, the correction had no impact upon the Company’s condensed consolidated financial statements.
Schedule of Minimum Future Lease Payments | Minimum future lease payments for operating leases in effect as of July 31, 2020, are as follows:
| Operating Lease
| (in thousands)
Remaining of 2021 | $ | 2,942 |
2022 | 5,757 |
2023 | 5,323 |
2024 | 5,225 |
2025 | 5,370 |
Thereafter | 1,350 |
Remaining balance of lease payments | $ | 25,967 |
Short-term lease liabilities | $ | 4,581 |
Long-term lease liabilities | 17,798 |
Total lease liabilities | $ | 22,379 |
Difference between undiscounted cash flows and discounted cash flows | $ | 3,588 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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