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Leases | 3 Months Ended
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Apr. 30, 2022
Leases [Abstract] |
Leases | Leases The Company has operating leases on real property, equipment, and automobiles that expire at various dates. The Company determines if an arrangement is a lease at inception and assesses classification of the lease at commencement. All of the Company’s leases are classified as operating leases, as a lessee. The Company uses the implicit rate when readily determinable, or the incremental borrowing rate. Our incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments using company specific credit spreads. The Company’s lease terms include options to extend or terminate the lease only when it is reasonably certain that we will exercise that option. Lease expense for our operating leases is recognized on a straight-line basis over the lease term. The quantitative information regarding our leases is as follows:
|  |  | Three-Months Ended
|  |  |  |  | 4/30/2022 |  | 4/30/2021
|  |  |  | (in thousands, except lease term and discount rate)
Operating lease cost |  |  |  |  | $ | 1,327 |  |  | $ | 1,238 |
Short-term lease cost |  |  |  |  | 97 |  |  | 96 |
Sublease income |  |  |  |  | (10) |  |  | (10) |
Variable lease cost |  |  |  |  | 253 |  |  | 530 |
Total lease cost |  |  |  |  | $ | 1,667 |  |  | $ | 1,854 |
Other operating leases information: |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  | $ | 1,454 |  |  | $ | 1,328 |
Right-of-use assets obtained in exchange for new lease liabilities |  |  |  |  | $ | 98 |  |  | $ | 165 |
Weighted-average remaining lease term (years) |  |  |  |  | 2.9 |  | 3.8
Weighted-average discount rate |  |  |  |  | 6.38 | % |  | 6.40 | %
Minimum future lease payments for operating leases in effect as of April 30, 2022, are as follows:
| Operating Lease
For the year ending January 31, | (in thousands)
2023 | $ | 4,194 |
2024 | 5,511 |
2025 | 5,508 |
2026 | 1,382 |
2027 | — |
Thereafter | — |
Remaining balance of lease payments | $ | 16,595 |
Short-term lease liabilities | $ | 4,769 |
Long-term lease liabilities | 10,297 |
Total lease liabilities | $ | 15,066 |
Difference between undiscounted cash flows and discounted cash flows | $ | 1,529 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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