Leases

9 Months Ended

Oct. 31, 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 leas

is as follows:


Operating Leases (In thousands)	Balance Sheet Classification		October 31, 2020		January 31, 2020
Lease Assets		Right of Use Assets	$	1,436	$	1,661
Lease Liabilities – Current		Other Liabilities and Accrued Expenses		376		416
Lease Liabilities – Long Term		Lease Liabilities		1,105		1,279

Lease cost information is as follows:


		Three Months Ended				Nine Months Ended
Operating Leases (In thousands)	Statement of Income Classification	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Operating Lease Costs	General and Administrative Expense	$	120	$	119	$	362	$	329

Maturities of operating lease liabilities are as follows:


(In thousands)	October 31, 2020
2021 , remaining	$	106
2022		361
2023		310
2024		283
2025		177
Thereafter		415

Total Lease Payments		1,652
Less: Imputed Interest		(171)

Total Lease Liabilities	$	1,481

As of October 31, 2020, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 5.3 years and 4.0%, 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				Nine Months Ended
(In thousands)	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	102	$	108	$	333	$	306