Leases

6 Months Ended

Jul. 31, 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 $20.6 million and $38.4 million, excluding variable lease costs of $4.7 million and $7.3 million for the three and six months ended July 31, 2020, respectively. Operating lease costs also exclude short-term leases and sublease income which were immaterial for the three and six months ended July 31, 2020. Operating lease costs were $11.1 million and $22.4 million, excluding short-term leases, variable lease costs and sublease income, which were immaterial, for the three and six months ended July 31, 2019, respectively.

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


	July 31, 2020
Weighted-average remaining lease term (in years)	8.69
Weighted-average discount rate	5.98	%

As of July 31, 2020, the maturity of lease liabilities under our non-cancelable operating leases were as follows:


Fiscal Period (In thousands)	Future Payments
Remaining fiscal 2021	$	30,848
Fiscal 2022	73,298
Fiscal 2023	66,555
Fiscal 2024	55,470
Fiscal 2025	48,999
Thereafter	270,837
Total lease payments	546,007
Less imputed interest	(127,976)
Total current and non-current operating lease liabilities ⁽¹⁾	$	418,031

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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 July 31, 2020, we have entered into a lease, primarily for office space that has not yet commenced, with future lease payments of $8.3 million that are not reflected in the above. This lease will commence in fiscal 2022 with a non-cancelable lease term of 11 years.

Supplemental Disclosures


	Six Months Ended July 31,
(In thousands)	2020		2019
Cash paid for operating lease liabilities	$	21,235	$	19,253
Operating lease liabilities arising from obtaining right-of-use assets	148,007		31,238