Leases

6 Months Ended

Jul. 30, 2022

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 related to our leases is as follows:


Operating Leases (In thousands)	Balance Sheet Classification		July 30, 2022		January 31, 2022



Lease Assets		Right of Use Assets	$	887	$	1,094
Lease Liabilities – Current		Other Liabilities and Accrued Expenses		302		327
Lease Liabilities – Long Term		Lease Liabilities		627		808

Lease cost information is as follows:

Three Months Ended

Six Months Ended

Operating Leases

(In thousands)

Statement of Income Classification

July 30,
2022

Operating Lease Costs

General and Administrative Expense

104

200

Three Months Ended

Six Months Ended

Operating Leases

(In thousands)

Statement of Income Classification

July 31,
2021

Operating Lease Costs

General and Administrative Expense

124

260

Maturities of operating lease liabilities are as follows:


(In thousands)	July 30, 2022
Fiscal 2023, remaining	$	151
Fiscal 2024		293
Fiscal 2025		192
Fiscal 2026		146
Fiscal 2027		140
Thereafter		86

Total Lease Payments		1,008
Less: Imputed Interest		(79	)

Total Lease Liabilities	$	929

As of July 30, 2022, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 4.6 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		Six Months Ended
(In thousands)	July 30, 2022		July 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	79	$	162


	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