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Leases | 3 Months Ended
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May 01, 2022
Disclosure Text Block [Abstract] |
Lessee, Operating Leases [Text Block] | 10. Leases We recognized sublease income of $348,000 and $146,000 in the first quarters of fiscal 2023 and 2022, respectively. The components of lease cost and supplemental cash flow information for leases in the first quarters of fiscal 2023 and 2022 were:
|  | Thirteen Weeks Ended |
|  | May 1, 2022 |  |  | May 2, 2021 |
Operating lease cost |  | $ | 2,527 |  |  | $ | 2,013 |
Variable lease cost |  |  | 55 |  |  |  | 44 |
Short-term lease cost |  |  | 80 |  |  |  | 19 |
Total operating lease cost |  | $ | 2,662 |  |  | $ | 2,076 |
Operating cash outflows |  | $ | 2,829 |  |  | $ | 1,992 |
The right-of-use assets and lease liabilities recorded on our condensed consolidated balance sheets as of May 1, 2022 and January 30, 2022 were as follows:
|  | May 1, 2022 |  |  | January 30, 2022 |
Real estate |  | $ | 51,682 |  |  | $ | 50,749 |
Property and equipment |  |  | 1,018 |  |  |  | 1,105 |
Total operating leases right-of-use assets |  | $ | 52,700 |  |  | $ | 51,854 |
Current portion of operating lease liabilities |  | $ | 7,447 |  |  | $ | 7,471 |
Long term operating lease liabilities |  |  | 47,271 |  |  |  | 46,570 |
Total operating lease liabilities |  | $ | 54,718 |  |  | $ | 54,041 |
The weighted-average remaining lease term is 8.0 years. We used our incremental borrowing rate which is LIBOR plus 1.5% at the adoption date. The weighted-average discount rate is 1.91%. The following table reconciles the undiscounted future lease payments for operating leases to the operating lease liabilities recorded in the condensed consolidated balance sheets on May 1, 2022:
|  | Undiscounted Future Operating Lease Payments |
Remainder of 2023 |  | $ | 6,457 |
2024 |  |  | 7,792 |
2025 |  |  | 7,793 |
2026 |  |  | 7,737 |
2027 |  |  | 7,390 |
2028 and thereafter |  |  | 21,941 |
Total lease payments |  | $ | 59,110 |
Less: impact of discounting |  |  | (4,392 | )
Present value of lease payments |  | $ | 54,718 |
As of May 1, 2022, the Company had an additional lease for a showroom in High Point, North Carolina. This lease is expected to commence in the Fall of calendar 2022 with an initial lease term of 10 years and estimated future minimum rental commitments of approximately $23.7 million. Since the lease has not yet commenced, the undiscounted amounts are not included in the table above.

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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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