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Leases (Tables)

6 Months Ended

Nov. 01, 2020

Assets And Liabilities Lessee [Abstract]

Summary of right of use assets and lease liabilities

The right of use assets and lease liabilities associated with our operating leases as of November 1, 2020, November 3, 2019, and May 3, 2020, are as follows:

						(1)
(dollars in thousands)		November 1, 2020				November 3, 2019				May 3, 2020
Right of use assets		$	6,165			$	5,879			$	3,903
Operating lease liability - current			2,316				2,282				1,805
Operating lease liability – noncurrent			4,008				3,439				2,016

(1) As of November 3, 2019, right of use assets totaled $5.9 million, of which $4.9 million and $1.0 million were classified as (i) right of use asset and (ii) within noncurrent assets – discontinued operation, respectively, in the accompanying Consolidated Balance Sheets.  At November 3, 2019, operating lease liabilities totaled $5.7 million, of which $2.1 million, $192,000, $2.6 million, and $825,000 were classified as (i) operating lease liability – current, (ii) within current liabilities – discontinued operation, (iii) operating lease liability – long-term, and (iv) within noncurrent liabilities – discontinued operation, respectively, in the accompanying Consolidated Balance Sheets.

Supplemental Cash Flow Information

Supplemental Cash Flow Information

		Six Months Ended				Six Months Ended
(dollars in thousands)		November 1, 2020				November 3, 2019
Operating lease liability payments		$	1,232			$	1,408
Right of use assets exchanged for lease liabilities			3,618				22

Leases-Other Information

Other Information

Maturity of our operating lease liabilities for the remainder of fiscal 2021, the subsequent next four fiscal years, and thereafter follows:

(dollars in thousands)
2021		$	1,244
2022			1,955
2023			1,536
2024			1,172
2025			679
Thereafter			—
		$	6,586
Less: interest			(262	)
Present value of lease liabilities		$	6,324

Summary of weighted average remaining lease term and discount rate

As of November 1, 2020, the weighted average remaining lease term and discount rate for our operating leases follows:

		November 1, 2020
Weighted average lease term		3.3 years
Weighted average discount rate			2.51	%

As of November 3, 2019, the weighted average remaining lease term and discount rate for our operating leases follows:

		November 3, 2019
Weighted average lease term		3.4 years
Weighted average discount rate			3.82	%

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

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Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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