Leases

12 Months Ended

Jan. 31, 2023

Leases [Abstract]

Leases

LeasesThe Company has entered into various non-cancelable office space operating leases with original lease periods expiring between 2023 and 2029. These leases do not contain material variable rent payments, residual value guarantees, financial covenants or other restrictions. The Company's corporate headquarters lease in San Francisco has a 10 year term, which expires in October 2028. The Company is entitled to two five-year options to extend this lease, subject to certain requirements.

Operating lease costs were as follows:

	Year Ended January 31,
	2023		2022		2021
	(dollars in millions)
Operating lease costs(1)	$	40	$	38	$	33

(1)    Amounts are presented exclusive of sublease income and include short-term leases, which are immaterial.

The weighted-average remaining term of operating leases was 5.1 years and 5.9 years as of January 31, 2023 and January 31, 2022, respectively, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 5.3% and 5.5% as of January 31, 2023 and January 31, 2022, respectively.

Maturities of operating lease liabilities, which do not include short-term leases, were as follows:

	As of January 31, 2023
Fiscal Year Ending January 31:	(dollars in millions)
2024	$	43
2025	42
2026	32
2027	31
2028	31
Thereafter	24
Total lease payments	203
Less imputed interest	(26)
Less tenant improvement allowances not yet incurred	(2)
Total operating lease liabilities	$	175

Cash payments made related to operating lease liabilities were $44 million and $40 million in fiscal 2023 and 2022, respectively.