Leases

12 Months Ended

Jan. 31, 2021

Leases [Abstract]

Leases

Leases

We lease office facilities under non-cancelable operating lease agreements expiring through July 2032. Our lease agreements do not contain any material residual value guarantees or restrictive covenants. During fiscal 2021, we ceased use of certain leased facilities that resulted in the recognition of certain exit costs - see Note 10 for further information. In addition, we executed an early renewal that modified an existing data center lease with additional lease payments of $27.3 million.

The components of lease costs were as follows (in thousands):

	Fiscal Year Ended
	2020		2021
Fixed operating lease cost	$	33,800	$	37,411
Variable lease cost (1)	8,097		9,168
Short-term lease cost (12 months or less)	5,537		5,734
Total lease cost	$	47,434	$	52,313

(1) Variable lease cost predominantly included common area maintenance charges.

Rent expense recognized under our operating leases prior to adoption of ASC 842 was $25.6 million during fiscal 2019.

At the end of fiscal 2020, the weighted-average remaining lease term was 5.6 years, and the weighted-average discount rate was 6.5%. At the end of fiscal 2021, the weighted-average remaining lease term is 5.2 years, and the weighted-average discount rate is 5.8%. Future lease payments under our non-cancelable operating leases at the end of fiscal 2021 are as follows (in thousands):

Fiscal Years Ending	Operating Leases
2022	$	40,110
2023	36,971
2024	31,340
2025	27,059
2026	19,231
Thereafter	24,371
Total future lease payments	$	179,082
Less: imputed interest	(26,490)
Present value of lease liabilities	$	152,592