Leases

6 Months Ended

Jul. 31, 2021

Note 12 – Leases

We enter into

lease

contracts for certain of our facilities at various locations worldwide. Our leases have remaining lease terms of one to six 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

to our leases is as follows:


Operating Leases (In thousands)	Balance Sheet Classification		July 31, 2021		January 31, 2021

Lease Assets		Right of Use Assets	$	1,209	$	1,389
Lease Liabilities – Current		Other Liabilities and Accrued Expenses		351		372
Lease Liabilities – Long Term		Lease Liabilities		907		1,065

Lease cost information is as follows:


		Three Months Ended		Six Months Ended
Operating Leases (In thousands)	Statement of Income Classification	July 31, 2021		July 31, 2021
Operating Lease Costs	General and Administrative Expense	$	124	$	260


		Three Months Ended		Six Months Ended
Operating Leases (In thousands)	Statement of Income Classification	August 1, 2020		August 1, 2020

Operating Lease Costs	General and Administrative Expense	$	122	$	242

Maturities of operating lease liabilities are as follows:


(In thousands)	July 31, 2021
2022, remaining	$	185
2023		314
2024		287
2025		180
2026		159
Thereafter		265

Total Lease Payments		1,390
Less: Imputed Interest		(132	)

Total Lease Liabilities	$	1,258

As of July 31, 2021, the weighted-average remaining lease

term

and weighted-average discount rate for our operating leases are 4.9 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		Six Months Ended
(In thousands)	July 31, 2021		July 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	93	$	185

	Three Months Ended		Six Months Ended
(In thousands)	August 1, 2020		August 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	125	$	231