Leases

9 Months Ended

Jan. 25, 2020

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 nine months ended January 25, 2020 was $9,258 and $27,222, 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	$	9,395
2021	32,291
2022	24,865
2023	14,419
2024	6,429
After 2024	2,609
Total lease payments	90,008
Less: imputed interest	(5,048)
Present value of lease liabilities	$	84,960

The following tables present other supplemental information related to leases:


	Nine months ended
	January 25, 2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	28,322
Lease assets obtained in exchange for new operating lease liabilities	$	22,854

January 25, 2020

Weighted-average remaining lease term - operating leases

3.20 years

Weighted-average discount rate - operating leases

3.61