Leases

3 Months Ended

May 02, 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. The components of lease costs during the periods presented were as follows (in thousands):

	First Quarter of Fiscal
	2021		2022
Fixed operating lease cost	$	8,749	$	9,756
Variable lease cost (1)	2,651		1,995
Short-term lease cost (12 months or less)	1,507		1,101
Total lease cost	$	12,907	$	12,852

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

At the end of the first quarter of fiscal 2022, the weighted-average remaining lease term was 5.0 years and the weighted-average discount rate is 5.74%. Future lease payments under our non-cancelable operating leases at the end of the first quarter of fiscal 2022 were as follows (in thousands):

Fiscal Years Ending	Operating Leases
The remainder of 2022	$	31,804
2023	37,777
2024	32,170
2025	27,488
2026	19,322
Thereafter	24,371
Total future lease payments	172,932
Less: imputed interest	(24,742)
Present value of lease liabilities	$	148,190