Annual report pursuant to Section 13 and 15(d)

Operating Leases (Tables)

v3.20.1
Operating Leases (Tables)
12 Months Ended
Jan. 31, 2020
Leases [Abstract]  
Schedule of Components of Lease Expense The components of lease expense for the fiscal year ended January 31, 2020 are as follows:

 

 

Fiscal Year Ended

January 31, 2020

 

 

 

(Amounts in thousands)

 

Operating lease cost

 

$

906

 

Short term lease cost

 

 

27

 

Total lease cost

 

$

933

 

 

Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to the Company’s operating leases was as follows:

 

 

 

Fiscal Year Ended

January 31, 2020

 

 

 

(Amounts in thousands)

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

Operating cash flows from operating leases

 

$

906

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease obligations

 

 

 

 

Operating leases

 

$

5,600

 

Schedule of Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to the Company’s operating leases was as follows:

 

 

 

January 31, 2020

 

 

 

(Amounts in thousands)

 

Operating lease right-of-use assets

 

$

4,860

 

 

 

 

 

 

Current portion, operating lease liabilities

 

 

722

 

Operating lease liabilities, long term

 

 

4,348

 

Total operating lease liabilities

 

$

5,070

 

 

 

 

 

 

Weighted average remaining lease term (years)

 

 

5.0

 

Weighted average incremental borrowing rate

 

 

5.0

%

Schedule of Future Minimum Lease Payments for Operating Leases Future minimum lease payments for operating leases with initial or remaining terms in excess of one year at January 31, 2020 are as follows:

 

 

 

Payments for

Operating Leases

 

For the fiscal years ended January 31,

 

(Amounts in thousands)

 

2021

 

$

965

 

2022

 

 

1,052

 

2023

 

 

1,036

 

2024

 

 

1,184

 

2025

 

 

1,201

 

Thereafter

 

 

59

 

Total lease payments

 

 

5,497

 

Less interest

 

 

427

 

Total operating lease liabilities

 

$

5,070

 

 

The Company’s total lease cost for fiscal 2019 was $1.2 million, and was accounted for under the former guidance of ASC 840, Leases (Topic 840).