Leases

3 Months Ended

May 02, 2020

Note 11 – Leases

We enter

into lease contracts for certain of

our

facilities at various locations worldwide. Our leases have remaining lease terms of 1 to 8 years, some of which include options to extend the lease term for periods of up to five years when it is reasonably certain

that we

will exercise such options.

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


Operating Leases (In thousands)	Balance Sheet Classification	May 2, 2020		January 31, 2020
Lease Assets	Right of Use Assets	$	1,553	$	1,661
Lease Liabilities – Current	Other Accrued Expenses		391		416
Lease Liabilities – Long Term	Lease Liabilities		1,199		1,279

Lease cost information is as follows:


		Three Months Ended
Operating Leases (In thousands)	Statement of Income Classification	May 2, 2020		May 4, 2019
Operating Lease Costs	General and Administrative Expense	$	120	$	92

Maturities of operating lease liabilities are as follows:


(In thousands)	May 2 , 2020
2021	$	305
2022		348
2023		298
2024		272
2025		168
Thereafter		391

Total Lease Payments		1,782
Less: Imputed Interest		(192	)

Total Lease Liabilities	$	1,590

As of May 2, 2020, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 5.6 years and 3.99%, 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:


	Three Months Ended
(In thousands)	May 2, 2020		May 4, 2019
Cash paid for amounts included in the measurement of lease liabilities:	$	106	$	100