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Leases (Tables)
12 Months Ended
Jan. 31, 2025
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, 2025

 

 

For the Year Ended January 31, 2024

 

 

For the Year Ended January 31, 2023

 

Operating lease expense

SG&A

 

$

21,919

 

 

$

20,404

 

 

$

19,810

 

Short-term lease cost

 

SG&A

 

 

698

 

 

 

746

 

 

 

550

 

Variable lease cost

 

SG&A

 

 

9,319

 

 

 

10,536

 

 

 

10,653

 

Total operating lease expense

 

 

 

$

31,936

 

 

$

31,686

 

 

$

31,013

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

SG&A

 

$

-

 

 

$

-

 

 

$

46

 

Interest on lease liabilities

Interest expense

 

$

-

 

 

$

-

 

 

$

-

 

 

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, 2025

 

 

January 31, 2024

 

Assets

 

 

 

 

 

 

 

 

Operating

 

Operating lease right-of-use assets

 

$

86,009

 

 

$

82,661

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

Operating

 

Current operating lease liabilities

 

$

19,263

 

 

$

15,696

 

Noncurrent:

 

 

 

 

 

 

 

 

Operating

 

Non-current operating lease liabilities

 

$

75,508

 

 

$

76,396

 

 

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, 2025

 

 

January 31, 2024

 

 

January 31, 2023

 

Weighted-average remaining lease term - in years

 

 

 

 

 

 

 

 

 

Operating leases

 

 

5.8

 

 

 

6.7

 

 

 

6.0

 

Finance leases

 

 

 

 

 

 

 

 

 

Weighted-average discount rate:

 

 

 

 

 

 

 

 

 

Operating leases

 

 

4.13

%

 

 

3.86

%

 

 

3.48

%

Finance leases

 

N/A

 

 

N/A

 

 

N/A

 

Schedule of Future Minimum Lease Payments under Topic 842

Future minimum lease payments by year as of January 31, 2025 is as follows (in thousands):

 

Fiscal Year

 

Operating Leases

 

2026

 

$

22,717

 

2027

 

 

22,862

 

2028

 

 

16,430

 

2029

 

 

12,357

 

2030

 

 

10,268

 

Thereafter

 

 

22,653

 

Total lease payments

 

$

107,287

 

Less: Interest

 

 

(12,516

)

Total lease obligations

 

$

94,771

 

 

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, 2025

 

 

Year Ended January 31, 2024

 

 

Year Ended January 31, 2023

 

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

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

21,679

 

 

$

20,103

 

 

$

19,485

 

Operating cash flows from finance leases

 

 

 

 

 

 

 

 

 

Financing cash flows from finance leases

 

 

 

 

 

 

 

 

49

 

Leased assets obtained in exchange for new operating lease liabilities

 

 

21,463

 

 

 

17,341

 

 

 

29,006