Leases

6 Months Ended

Oct. 26, 2019

We lease certain warehouses, office space, vehicles and equipment. Leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheets. We recognize lease expense for these leases on a straight-line basis over the lease term. We do not separate lease and non-lease components, and instead account for each lease and non-lease component associated with that lease as a single lease component. Some leases include one or more options to renew. The exercise of renewal options is at our sole discretion. Our lease agreements do not contain significant residual value guarantees, restrictions or covenants.

Total lease cost for the three and six months ended October 26, 2019 was $10,504 and $17,964, respectively, which includes variable lease costs and short-term lease costs, which are immaterial.

The following table presents future maturities of lease liabilities.



Remainder of 2020	$	18,120
2021	29,736
2022	22,491
2023	12,859
2024	5,386
After 2024	1,603
Total lease payments	90,195
Less: imputed interest	(5,235		)
Present value of lease liabilities	$	84,960

The following tables present other supplemental information related to leases.



	Six months ended
	October 26, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	18,705
Lease assets obtained in exchange for new operating lease liabilities	$	14,051



	October 26, 2019
Weighted-average remaining lease term - operating leases	3.26 years
Weighted-average discount rate - operating leases	3.64	%