v3.23.2
Leases
 6 Months Ended
Jul. 31, 2023
Leases [Abstract]  
Leases Leases
We have entered into operating lease agreements for our office space, data centers, and other property and equipment. Operating lease right-of-use assets were $262 million and $249 million as of July 31, 2023, and January 31, 2023, respectively, and operating lease liabilities were $291 million and $273 million as of July 31, 2023, and January 31, 2023, respectively. We have also entered into finance lease agreements for other property and equipment. As of July 31, 2023, and January 31, 2023, finance leases were not material.
The components of operating lease expense were as follows (in thousands):
Three Months Ended July 31, Six Months Ended July 31,
2023202220232022
Operating lease cost$26,620 $24,773 $55,080 $48,417 
Short-term lease cost740 922 1,642 2,147 
Variable lease cost10,850 10,410 21,998 20,183 
Total operating lease cost$38,210 $36,105 $78,720 $70,747 
Supplemental cash flow information related to our operating leases was as follows (in thousands):
Three Months Ended July 31, Six Months Ended July 31,
2023202220232022
Cash paid for operating lease liabilities$25,399$19,538$53,809$45,196
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities31,52957,89963,75586,480
Other information related to our operating leases was as follows:
July 31, 2023January 31, 2023
Weighted average remaining lease term (in years)55
Weighted average discount rate3.25 %2.79 %
As of July 31, 2023, maturities of operating lease liabilities were as follows (in thousands):
Fiscal Period:
Remainder of 2024$54,890 
202592,565 
202660,337 
202741,822 
202833,017 
Thereafter41,034 
Total lease payments323,665 
Less imputed interest(32,717)
Total operating lease liabilities$290,948 
As of July 31, 2023, we have additional operating leases for data centers and office space that had not yet commenced with total undiscounted lease payments of $63 million. These operating leases will commence in fiscal 2024 and fiscal 2025, with lease terms ranging from five to six years.