Annual report pursuant to Section 13 and 15(d)

Leases

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Leases
 12 Months Ended
Feb. 04, 2024
Leases [Abstract]  
Leases Leases
Components of lease expense were as follows (in thousands):
2024 2023 2022
Operating lease expense $ 30,305  $ 24,173  $ 18,902 
Variable lease expense 11,820  16,082  10,489 
Short term lease expense 1,470  721  336 
Total lease expense $ 43,595  $ 40,976  $ 29,727 
Variable lease expense includes index-based changes in rent, maintenance, real estate taxes, insurance and other variable charges included in the lease as well as rental expenses related to short term leases.
During fiscal 2024 and 2023, we did not recognize any impairment charges associated with showroom-level right-of-use assets. During fiscal 2022, we recognized impairment charges totaling $0.6 million associated with showroom-level ROU assets that were included as part of selling, general and administrative expenses.

Future minimum lease payments under non-cancelable leases as of February 4, 2024 were as follows (in thousands):
2025 $ 25,897 
2026 31,304 
2027 29,134 
2028 26,958 
2029 24,397 
Thereafter 76,790 
Total undiscounted future minimum lease payments 214,480 
Less: imputed interest (38,976)
Total present value of lease obligations 175,504 
Less: current operating lease liability (17,628)
Operating lease liability- long term $ 157,876 

Supplemental cash flow information related to our operating leases is as follows (in thousands):

2024 2023 2022
Operating cash flow information:
Amounts paid on operating lease liabilities $ 29,748 $ 23,724 $ 14,400
Non-cash activities
Net additions to right-of-use assets obtained in exchange for lease obligations $ 42,064 $ 53,239 $ 116,048
Weighted average remaining lease term - operating leases 7.47 7.40 6.29
Weighted average discount rate - operating leases 4.97% 4.10% 3.44%