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Leases (Tables)
12 Months Ended
Jan. 31, 2023
Leases [Abstract]  
Components of Lease Expense

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

 

Lease Expense

 

Consolidated Statements of
Operation Location

 

For the Year Ended January 31, 2023

 

 

For the Year Ended January 31, 2022

 

 

For the Year Ended January 31, 2021

 

Operating lease expense

 

SG&A

 

$

19,810

 

 

$

18,856

 

 

$

18,533

 

Short-term lease cost

 

SG&A

 

 

550

 

 

 

412

 

 

 

601

 

Variable lease cost

 

SG&A

 

 

10,653

 

 

 

10,839

 

 

 

9,051

 

Total operating lease expense

 

 

 

$

31,013

 

 

$

30,107

 

 

$

28,185

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

SG&A

 

$

46

 

 

$

117

 

 

$

117

 

Interest on lease liabilities

 

Interest expense

 

$

-

 

 

$

4

 

 

$

9

 

 

Summary of Supplemental Balance Sheet Information for Leases

The following table discloses supplemental balance sheet information for the Company’s leases (in thousands):

 

Leases

 

Consolidated Balance Sheets Location

 

January 31, 2023

 

 

January 31, 2022

 

Assets

 

 

 

 

 

 

 

 

Operating

 

Operating lease right-of-use assets

 

$

80,897

 

 

$

68,599

 

Finance

 

Other non-current assets

 

$

3

 

 

$

49

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

Operating

 

Current operating lease liabilities

 

$

17,681

 

 

$

13,693

 

Finance

 

Accrued liabilities

 

$

-

 

 

$

49

 

Noncurrent:

 

 

 

 

 

 

 

 

Operating

 

Non-current operating lease liabilities

 

$

70,910

 

 

$

62,730

 

Finance

 

Other non-current liabilities

 

$

-

 

 

$

-

 

 

Summary of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate

The following table discloses the weighted-average remaining lease term and weighted-average discount rate for the Company's leases:

 

Lease Term and Discount Rate

 

January 31, 2023

 

 

January 31, 2022

 

 

January 31, 2021

 

Weighted-average remaining lease term - in years

 

 

 

 

 

 

 

 

 

Operating leases

 

 

6.0

 

 

 

6.2

 

 

 

6.5

 

Finance leases

 

 

 

 

 

0.4

 

 

 

1.4

 

Weighted-average discount rate:

 

 

 

 

 

 

 

 

 

Operating leases

 

 

3.48

%

 

 

3.90

%

 

 

3.78

%

Finance leases

 

N/A

 

 

 

3.86

%

 

 

3.86

%

Schedule of Future Minimum Lease Payments under Topic 842

Future minimum lease payments by year as of January 31, 2023 were as follows (in thousands):

 

Fiscal Year

 

Operating Leases

 

2023

 

$

20,405

 

2024

 

 

17,966

 

2025

 

 

14,551

 

2026

 

 

13,713

 

2027

 

 

10,103

 

Thereafter

 

 

21,472

 

Total lease payments

 

$

98,210

 

Less: Interest

 

 

(9,619

)

Total lease obligations

 

$

88,591

 

 

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows (in thousands):

 

 

 

Year Ended January 31, 2023

 

 

Year Ended January 31, 2022

 

 

Year Ended January 31, 2021

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

19,485

 

 

$

19,130

 

 

$

19,080

 

Operating cash flows from finance leases

 

 

 

 

 

4

 

 

 

9

 

Financing cash flows from finance leases

 

 

49

 

 

 

121

 

 

 

116

 

Leased assets obtained in exchange for new operating lease liabilities

 

 

29,006

 

 

 

8,519

 

 

 

2,940