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Leases (Tables)
6 Months Ended
Jul. 31, 2019
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 Three Months Ended

July 31, 2019

 

 

For the Six Months Ended

July 31, 2019

 

Operating lease expense

 

SG&A

 

$

4,858

 

 

$

9,534

 

Short-term lease cost

 

SG&A

 

 

263

 

 

 

402

 

Variable lease cost

 

SG&A

 

 

2,127

 

 

 

3,847

 

Total operating lease expense

 

 

 

$

7,248

 

 

$

13,783

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

SG&A

 

$

29

 

 

$

58

 

Interest on lease liabilities

 

Interest expense

 

$

3

 

 

$

7

 

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

 

July 31, 2019

 

Assets

 

 

 

 

 

 

Operating

 

Operating lease right-of-use assets

 

$

91,119

 

Finance

 

Other non-current assets

 

$

341

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Current:

 

 

 

 

 

 

Operating

 

Current operating lease liabilities

 

$

14,609

 

Finance

 

Accrued liabilities

 

$

114

 

Noncurrent:

 

 

 

 

 

 

Operating

 

Non-current operating lease liabilities

 

$

82,972

 

Finance

 

Other non-current liabilities

 

$

229

 

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

 

July 31, 2019

 

Weighted-average remaining lease term - in years

 

 

 

 

Operating leases

 

 

7.63

 

Finance leases

 

 

2.89

 

Weighted-average discount rate:

 

 

 

 

Operating leases

 

 

3.70

%

Finance leases

 

 

3.86

%

Schedule of Future Minimum Lease Payments under Topic 842

Future minimum lease payments by year as of July 31, 2019 were as follows (in thousands):

 

Fiscal Year

 

Operating Leases

 

 

Finance Leases

 

2020 (remaining)

 

$

9,277

 

 

$

63

 

2021

 

 

16,887

 

 

125

 

2022

 

 

15,359

 

 

125

 

2023

 

 

13,260

 

 

49

 

2024

 

 

12,538

 

 

 

 

Thereafter

 

 

45,767

 

 

 

 

Total lease payments

 

$

113,088

 

 

$

362

 

Less: Interest

 

 

(15,507

)

 

 

(19

)

Total lease obligations

 

$

97,581

 

 

$

343

 

 

Schedule of Future Minimum Lease Payments under Topic 840

Future minimum lease payments by year as of January 31, 2019 were as follows (in thousands):

 

 

Fiscal Year Ending January 31,

 

2020

 

$

14,036

 

2021

 

 

11,325

 

2022

 

 

10,135

 

2023

 

 

8,279

 

2024

 

 

7,683

 

Thereafter

 

 

35,020

 

 

 

$

86,478

 

Schedule of Supplemental Cash Flow Information Related to Leases

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

 

 

 

For the Three Months Ended

July 31, 2019

 

 

For the Six Months Ended

July 31, 2019

 

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

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

4,223

 

 

$

8,280

 

Operating cash flows from finance leases

 

 

3

 

 

 

7

 

Financing cash flows from finance leases

 

 

28

 

 

 

56

 

Leased assets obtained in exchange for new operating lease liabilities

 

 

7,318

 

 

 

8,351

 

Leased assets obtained in exchange for new financing lease liabilities

 

 

 

 

 

399