Leases
 3 Months Ended
Apr. 30, 2019
Leases [Abstract]  
Leases

7. Leases

The Company has entered into operating leases for its worldwide office buildings and research and development facilities. The leases expire at various dates through fiscal year 2028, some of which include options to extend the lease for up to 3 years. For the three months ended April 30, 2019, the Company recorded approximately $0.7 million of operating lease expense. The Company's short-term leases and finance leases are immaterial.

The cumulative effect of the changes made to the condensed consolidated balance sheet as of February 1, 2019 for the adoption of Topic 842 was as follows:

 

 

Balance as of

 

 

 

 

 

 

Opening Balance as of

 

 

 

January 31, 2019

 

 

Adjustment

 

 

February 1, 2019

 

 

 

(in thousands)

 

Operating lease right-of-use assets

 

$

—

 

 

$

8,581

 

 

$

8,581

 

Prepaid expenses and other current assets

 

$

6,206

 

 

$

(174

)

 

$

6,032

 

Accrued and other current liabilities

 

$

24,700

 

 

$

(279

)

 

$

24,421

 

Operating lease liabilities, current

 

$

—

 

 

$

2,534

 

 

$

2,534

 

Operating lease liabilities, non-current

 

$

—

 

 

$

6,152

 

 

$

6,152

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental cash flow information related to leases is as follows:

 

 

 

Three Months Ended

 

 

 

April 30, 2019

 

 

 

(in thousands)

 

Cash paid for operating leases included in operating cash flows

 

$

727

 

Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets

 

$

65

 

Weighted-average remaining lease term – operating leases

 

4.25 years

 

Weighted-average discount rate – operating leases

 

 

5.00

%

Future minimum lease payments for the operating lease liabilities are as follows:

 

 

As of

 

 

 

April 30, 2019

 

Fiscal Year

 

(in thousands)

 

2020 (9 months remaining)

 

$

2,067

 

2021

 

 

2,148

 

2022

 

 

1,782

 

2023

 

 

1,567

 

2024

 

 

491

 

Thereafter

 

 

516

 

Total future annual minimum lease payments

 

 

8,571

 

Less: interest

 

 

(546

)

Total lease liabilities

 

$

8,025

 

Prior to the adoption of the new leases guidance, future minimum undiscounted lease payments as of January 31, 2019 were as follows:

 

 

As of

 

 

 

January 31, 2019

 

Fiscal Year

 

(in thousands)

 

2020

 

$

2,592

 

2021

 

 

1,040

 

2022

 

 

356

 

2023

 

 

143

 

2024

 

 

147

 

Thereafter

 

 

576

 

Total future annual minimum lease payments

 

$

4,854

 

The increased liabilities as of April 30, 2019 were attributable to a renewal option reasonably certain to be exercised during the three months ended April 30, 2019.