Leases

3 Months Ended

Apr. 28, 2024

The Company has operating leases for real estate, vehicles, and office equipment, which are accounted for in accordance with ASC 842, "Leases." Real estate leases are used to secure office space for the Company's administrative, engineering, production support and manufacturing activities. The Company's leases have remaining lease terms of up to approximately eight years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year.

The components of lease expense were as follows:


	Three Months Ended
(in thousands)	April 28, 2024		April 30, 2023
Operating lease cost	$	1,889	$	2,149
Short-term lease cost	144		609
Sublease income	(155)		(158)
Total lease cost	$	1,878	$	2,600

Supplemental cash flow information related to leases was as follows:


	Three Months Ended
(in thousands)	April 28, 2024		April 30, 2023
Cash paid for amounts included in the measurement of lease liabilities	$	2,083	$	2,181
Right-of-use assets obtained in exchange for new operating lease liabilities	$	—	$	13


	April 28, 2024
Weighted-average remaining lease term–operating leases (in years)	5.3
Weighted-average discount rate on remaining lease payments–operating leases	6.9	%

Supplemental balance sheet information related to leases was as follows:



(in thousands)	April 28, 2024		January 28, 2024
Operating lease right-of-use assets in "Other assets"	$	22,830	$	23,870

Operating lease liabilities in "Accrued liabilities"	$	6,275	$	6,560
Operating lease liabilities in "Other long-term liabilities"	20,293		22,033
Total operating lease liabilities	$	26,568	$	28,593

Maturities of lease liabilities as of April 28, 2024 are as follows:


(in thousands)
Fiscal Year Ending:
2025 (remaining nine months)	$	6,169
2026	6,977
2027	5,155
2028	4,513
2029	3,661
Thereafter	5,738
Total lease payments	32,213
Less: imputed interest	(5,645)
Total	$	26,568