Leases

3 Months Ended

Apr. 30, 2020

Leases [Abstract]

Leases

Leases

We have operating and finance leases for corporate offices, data centers, and certain equipment. Our leases have various expiration dates through 2030, some of which include options to extend the leases for up to nine years. Additionally, we are the sublessor for certain office space. Our sublease income for the three months ended April 30, 2020 was immaterial. We did not have any sublease income for the three months ended April 30, 2019.

For the three months ended April 30, 2020 and 2019, our operating lease expense was $3 million and $2 million, respectively. Our finance lease expense was immaterial for both the three months ended April 30, 2020 and 2019.

Supplemental cash flow information related to leases was as follows (in thousands):

	Three months ended April 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,563	$	1,507
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	306	$	941

 

Supplemental balance sheet information related to leases was as follows (in thousands, except lease term and discount rate):

	As of April 30, 2020			As of January 31, 2020
Operating Leases
Lease right-of-use-assets	$	46,923		$	49,132
Lease liabilities	$	9,114		$	8,960
Lease liabilities, noncurrent	42,344			44,453
Total operating lease liabilities	$	51,458		$	53,413
Finance Leases
Property and equipment, at cost	$	1,674		$	1,761
Accumulated depreciation	(1,569		)	(1,320		)
Property and equipment, net	$	105		$	441
Lease liabilities	$	1,013		$	1,054
Lease liabilities, noncurrent	86			362
Total finance lease liabilities	$	1,099		$	1,416
Weighted Average Remaining Lease Term
Operating leases	7.0 years			7.1 years
Finance leases	1.1 years			1.3 years
Weighted Average Discount Rate
Operating leases	4.2		%	4.3		%
Finance leases	4.3		%	4.3		%

 

As of April 30, 2020, remaining maturities of lease liabilities are as follows (in thousands):

Period	Operating leases			Finance leases
Remaining for Fiscal 2021	$	8,150		$	778
Fiscal 2022	10,233			346
Fiscal 2023	8,102			—
Fiscal 2024	7,352			—
Fiscal 2025	5,338			—
Thereafter	20,822			—
Total lease payments	59,997			1,124
Less imputed interest	(8,539		)	(25		)
Total	$	51,458		$	1,099

As of April 30, 2020, we have additional operating leases, primarily for office leases, that have not yet commenced of $3 million. These operating leases will commence during the fiscal year ending January 31, 2021 with lease terms of three to five years.

Leases

Leases

We have operating and finance leases for corporate offices, data centers, and certain equipment. Our leases have various expiration dates through 2030, some of which include options to extend the leases for up to nine years. Additionally, we are the sublessor for certain office space. Our sublease income for the three months ended April 30, 2020 was immaterial. We did not have any sublease income for the three months ended April 30, 2019.

For the three months ended April 30, 2020 and 2019, our operating lease expense was $3 million and $2 million, respectively. Our finance lease expense was immaterial for both the three months ended April 30, 2020 and 2019.

Supplemental cash flow information related to leases was as follows (in thousands):

	Three months ended April 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,563	$	1,507
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	306	$	941

 

Supplemental balance sheet information related to leases was as follows (in thousands, except lease term and discount rate):

	As of April 30, 2020			As of January 31, 2020
Operating Leases
Lease right-of-use-assets	$	46,923		$	49,132
Lease liabilities	$	9,114		$	8,960
Lease liabilities, noncurrent	42,344			44,453
Total operating lease liabilities	$	51,458		$	53,413
Finance Leases
Property and equipment, at cost	$	1,674		$	1,761
Accumulated depreciation	(1,569		)	(1,320		)
Property and equipment, net	$	105		$	441
Lease liabilities	$	1,013		$	1,054
Lease liabilities, noncurrent	86			362
Total finance lease liabilities	$	1,099		$	1,416
Weighted Average Remaining Lease Term
Operating leases	7.0 years			7.1 years
Finance leases	1.1 years			1.3 years
Weighted Average Discount Rate
Operating leases	4.2		%	4.3		%
Finance leases	4.3		%	4.3		%

 

As of April 30, 2020, remaining maturities of lease liabilities are as follows (in thousands):

Period	Operating leases			Finance leases
Remaining for Fiscal 2021	$	8,150		$	778
Fiscal 2022	10,233			346
Fiscal 2023	8,102			—
Fiscal 2024	7,352			—
Fiscal 2025	5,338			—
Thereafter	20,822			—
Total lease payments	59,997			1,124
Less imputed interest	(8,539		)	(25		)
Total	$	51,458		$	1,099

As of April 30, 2020, we have additional operating leases, primarily for office leases, that have not yet commenced of $3 million. These operating leases will commence during the fiscal year ending January 31, 2021 with lease terms of three to five years.