Leases

3 Months Ended

Apr. 30, 2020

We have operating leases for office space, used for our business operations and sales support, and data centers, used primarily for product development.

Operating lease costs were $17.8 million, excluding short-term lease costs of $3.2 million. Operating lease costs also exclude variable lease costs and sublease income which were immaterial during the three months ended April 30, 2020. Operating lease costs were $11.3 million, excluding short-term leases, variable lease costs and sublease income, which were immaterial, during the three months ended April 30, 2019.

Our lease term and the discount rate related to our operating lease right-of-use assets and related lease liabilities are as follows:


	April 30, 2020
Weighted-average remaining lease term (in years)	8.95
Weighted-average discount rate	5.98	%

As of April 30, 2020, the maturity of lease liabilities under our non-cancelable operating leases were as follows:


Fiscal Period (In thousands)	Future Payments
Remaining fiscal 2021	$	37,046
Fiscal 2022	70,727
Fiscal 2023	66,273
Fiscal 2024	55,545
Fiscal 2025	49,155
Thereafter	280,797
Total lease payments	559,543
Less imputed interest	(137,018)
Total current and non-current operating lease liabilities ⁽¹⁾	$	422,525

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⁽¹⁾The current portion of our operating lease liabilities is included in “Accrued expenses and other liabilities” on our condensed consolidated balance sheets.

As of April 30, 2020, we have entered into leases, primarily for office space that have not yet commenced, with future lease payments of $9.1 million that are not reflected in the above. These leases will commence between fiscal 2021 and fiscal 2022 with non-cancelable lease terms of 2 years to 11 years.

Supplemental Disclosures


	Three Months Ended April 30,
(In thousands)	2020		2019
Cash paid for operating lease liabilities	$	7,533	$	9,751
Operating lease liabilities arising from obtaining right-of-use assets	143,890		9,916