Note 9. Leases

The Company currently leases its administrative offices and distribution center. During fiscal 2020 and fiscal 2019, the Company recorded net lease costs of $0.8 million, and did not record any contingent rentals.

As of January 30, 2021, the maturity of lease liabilities is as follows:

	Operating Leases
(amounts in thousands)
2021		726
2022		748
2023		767
2024		652
2025		296
Thereafter		-
Total lease payments		3,189
Less: amounts representing interest		(335	)
Present value of lease liabilities	$	2,854

Lease term and discount rate are as follows:

	As of January 30, 2021
Weighted-average remaining lease term (years)
Operating leases		4.3

Weighted-average discount rate Operating leases		5	%

Other information:

	Fiscal 2020
(amounts in thousands)
Cash paid for amounts included in the measurement of operating lease liabilities
Operating cash flows from operating leases	$	695

Future minimum rental payments required under the remaining leases for the administrative office and distribution center in Spokane, Washington as of January 30, 2021, are as follows (amounts in thousands):

(amounts in thousands)	Operating Leases
2021	$	726
2022		748
2023		767
2024		652
2025		296
Thereafter		-
Total minimum lease payments	$	3,189