|3 Months Ended|
Apr. 30, 2021
The Company has operating leases for facilities and equipment expiring at various dates through 2025.
The components of lease expense are as follows:
Supplemental cash flow information related to the Company’s operating leases was as follows:
Supplemental balance sheet information related to the Company's operating leases was as follows:
The current portion, operating lease liabilities is included in the balance of accrued expenses at April 30, 2021. Rent payments for continuing operations were approximately $0.4 million for the three months ended April 30, 2021. Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at April 30, 2021, are as follows:
In the first quarter of fiscal 2022, we entered into the Termination Agreement which terminated the sublease with respect to our former headquarters in Waltham, Massachusetts, effective March 21, 2021. In connection with the early termination of the sublease, the Company is to pay the sublandlord a termination payment of approximately $0.4 million, of which $0.3 million was paid during the three months ended April 30, 2021, and the remaining $0.1 million was paid subsequent to quarter end. The Company also wrote off all related operating lease right-of-use assets and liabilities as of the termination date, resulting in a $0.3 million non-cash gain, which partially offset the loss on the termination payments. The net $0.1 million loss on lease termination is reported as a component of severance and restructuring expense on the consolidated statements of operations and comprehensive loss for the three months ended April 30, 2021. Prior to the execution of the Termination Agreement, the sublease had been scheduled to expire in February 2025.
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef