Leases

12 Months Ended

Jan. 31, 2020

Note 10—Leases

The Company enters into lease contracts for certain of its facilities at various locations worldwide. Our leases have remaining lease terms of one to eight years, some of which include options to extend the lease term for periods of up to five years when it is reasonably certain the Company will exercise such options.

The company leases office space from an affiliate. This lease is classified as an operating lease with annual rental payments of approximately $63,000 and $61,000 as of January 31, 2020 and 2019, respectively.

Balance sheet and other information related to our leases is as follows:


Operating Leases (In thousands)	Balance Sheet Classification	January 31, 2020
Lease Assets	Right of Use Assets	$	1,661
Lease Liabilities — Current	Other Liabilities and Accrued Expenses		416
Lease Liabilities — Long Term	Lease Liabilities	$	1,279

Lease cost information is as follows:

Year Ended

Operating Leases

(In thousands)

Statement of Income Classification

January 31,
2020

Operating Lease Costs

General and Administrative Expense

449

Maturities of operating lease liabilities are as follows:


(In thousands)	January 31, 2020
2021	$	416
2022		358
2023		300
2024		273
2025		169
Thereafter		389

Total Lease Payments		1,905
Less: Imputed Interest		(210	)

Total Lease Liabilities	$	1,695

As of January 31, 2020, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 5.6 years and 3.96%, respectively. We calculated the weighted-average discount rate using incremental borrowing rates, which equal the rates of interest that we would pay to borrow funds on a fully collateralized basis over a similar term.

Supplemental cash flow information related to leases is as follows:


	Year Ended
(In thousands)	January 31, 2020
Cash paid for operating lease liabilities	$	406