SeaChange International, Inc. Quarterly report pursuant to Section 13 or 15(d)

Operating Leases (Tables)

9 Months Ended

Oct. 31, 2020

The components of lease expense are as follows:

	For the Three Months Ended October 31, 2020			For the Nine Months Ended October 31, 2020
	(Amounts in thousands)
Operating lease cost	$	344		$	972
Short term lease (credit) cost, net		(10	)		30
Total lease cost	$	334		$	1,002

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

	For the Three Months Ended October 31, 2020		For the Nine Months Ended October 31, 2020
	(Amounts in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	263	$	829

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

	October 31, 2020			January 31, 2020
	(Amounts in thousands)
Operating lease right-of-use assets	$	5,231		$	4,860

Current portion, operating lease liabilities		1,351			722
Operating lease liabilities, long term		4,299			4,348
Total operating lease liabilities	$	5,650		$	5,070

Weighted average remaining lease term (years)		4.3
Weighted average incremental borrowing rate		5.0	%

Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at October 31, 2020, are as follows:

	Payments for Operating Leases
For the fiscal years ended January 31,	(Amounts in thousands)
2021	$	298
2022		1,319
2023		1,445
2024		1,482
2025		1,524
Thereafter		59
Total lease payments		6,127
Less interest		477
Total operating lease liabilities	$	5,650