Leases

3 Months Ended

Apr. 30, 2022

Note 11 – 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.

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


Operating Leases (In thousands)	Balance Sheet Classification		April 30, 2022		January 31, 2022
Lease Assets		Right of Use Assets	$	976	$	1,094
Lease Liabilities – Current		Other Liabilities and Accrued Expenses		311		327
Lease Liabilities – Long Term		Lease Liabilities		708	$	808

Lease cost information is as follows:

Three Months Ended

Operating Leases

(In thousands)

Statement of Income Classification

April 30,

2022

May 1,

2021

Operating Lease Costs

General and Administrative Expense

113

136

Maturities of operating lease liabilities are as follows:


(In thousands)	April 30, 2022
2023, remaining	$	234
2024		297
2025		195
2026		150
2027		145
Thereafter		89

Total Lease Payments		1,110
Less: Imputed Interest		(91	)

Total Lease Liabilities	$	1,019

As of April 30, 2022, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 4.5 years and 3.85%, 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)	April 30, 2022		May 1, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	83	$	92