Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
 12 Months Ended
Jan. 29, 2023
Leases [Abstract]  
Schedule of components of lease expense Components of lease expense were as follows (in thousands):
2023 2022
Operating lease expense $ 24,173  $ 18,902 
Variable lease expense 16,207  12,439 
Short term lease expense 721  336 
Total lease expense $ 41,101  $ 31,677 
Supplemental cash flow information and non-cash activity related to our operating leases is as follows (in thousands):
2023 2022
Operating cash flow information:
Cash paid for operating lease liabilities $ 23,724  $ 14,400 
Non-cash activities
Net additions to right-of-use assets obtained in exchange for lease obligations $ 56,099  $ 116,048 
Schedule of lease terms and rates
The Company’s weighted average lease term and weighted average discount rates are as follows:
For the year ended
2023 2022
Weighted average remaining lease term (in years)
Operating Leases 7.4 6.29
Weighted average discount rate
Operating Leases 4.10  % 3.44  %
Schedule of expected future annual minimum rental payments
Future minimum lease payments under non-cancelable leases as of January 29, 2023 were as follows (in thousands):

2024 $ 27,671 
2025 26,759 
2026 24,447 
2027 22,083 
2028 19,747 
Thereafter 62,832 
Total undiscounted future minimum lease payments 183,539 
Less: imputed interest (25,686)
Total present value of lease obligations 157,853 
Less: current operating lease liability (21,898)
Operating lease liability- long term $ 135,955