Leases

6 Months Ended

Jul. 31, 2019

The Company has entered into various non-cancelable operating lease agreements for office space and data storage facilities with remaining lease terms of approximately 3 to 11 years, often with one or more Company options to renew. These renewal terms can extend the lease term from 3 to 10 years and are included in the lease term when it is reasonably certain that the Company will exercise the option.

The components of operating lease costs, lease term and discount rate are as follows:



	Three months ended		Six months ended
(in thousands, except for term and percentages)	July 31, 2019		July 31, 2019
Operating lease expense	$	1,086	$	2,160

Weighted average remaining lease term			11.24 years
Weighted average discount rate			4.37		%

Maturities of operating lease liabilities as of July 31, 2019 were as follows:



Fiscal year ending January 31, (in thousands)	Operating leases
Remaining 2020	$	2,013
2021	4,105
2022	4,205
2023	4,233
2024	4,288
Thereafter	31,930
Total lease payments	50,774
Less imputed interest	(11,160		)
Present value of lease liabilities	$	39,614

Current	$	3,954
Non-current	35,660
Total lease liabilities	$	39,614

As of July 31, 2019, the Company had an additional operating lease for office space that has not yet commenced with undiscounted lease payments of $17.1 million. This operating lease will commence in fiscal year 2021 with a lease term of approximately 11 years.

Supplemental cash flow information related to the Company's operating leases was as follows:



	Three months ended		Six months ended
(in thousands)	July 31, 2019		July 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	852	$	1,829
ROU assets obtained in exchange for new operating lease obligations	$	—	$	199