Leases

9 Months Ended

Oct. 30, 2021

Note 13 – 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 related to our leases is as follows:


Operating Leases (In thousands)	Balance Sheet Classification	October 30, 2021		January 31, 2021

Lease Assets	Right of Use Assets	$	1,106	$	1,389
Lease Liabilities – Current	Other Liabilities and Accrued Expenses		329		372
Lease Liabilities – Long Term	Lease Liabilities		826		1,065

Lease cost information is as follows:


		Three Months Ended		Nine Months Ended
Operating Leases (In thousands)	Statement of Income Classification	October 30, 2021		October 30, 2021
Operating Lease Costs	General and Administrative Expense	$	125	$	386


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

Maturities of operating lease liabilities are as follows:


(In thousands)	October 31, 2021
2022, remaining	$	92
2023		309
2024		282
2025		176
2026		156
Thereafter		257

Total Lease Payments		1,272
Less: Imputed Interest		(117	)

Total Lease Liabilities	$	1,155

As of October 30, 2021, the weighted-average remaining lease term and

weighted-average discount rate for our operating leases are 4.7 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 30, 2021		October 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	85	$	285


	Three Months Ended		Nine Months Ended
(In thousands)	October 31, 2020		October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	102	$	333