Leases

12 Months Ended

Feb. 06, 2022

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 fiscal 2022, we entered into an agreement with a third party vendor to finance lease certain test equipment. The amount of test equipment acquired under the finance lease was not material.

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


	Fiscal Year Ended
	2021		2022
Fixed operating lease cost	$	37,411	$	37,598






Variable lease cost (1)	9,168		10,228
Short-term lease cost (12 months or less)	5,734		4,178
Total lease cost	$	52,313	$	52,004

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

At the end of fiscal 2021, the weighted-average remaining lease term for our operating leases was 5.2 years, and the weighted-average discount rate for our operating leases was 5.8%. At the end of fiscal 2022, the weighted-average remaining lease term for our operating leases is 4.5 years, and the weighted-average discount rate for our operating leases was 5.7%. Future lease payments under our non-cancelable operating leases at the end of fiscal 2022 are as follows (in thousands):


Fiscal Years Ending	Operating Leases
2023	$	38,627
2024	33,565
2025	28,980
2026	20,314
2027	8,266
Thereafter	17,787
Total future lease payments	$	147,539
Less: imputed interest	(18,962)
Present value of lease liabilities	$	128,577