| Leases |
Leases The Company has operating leases for real estate, vehicles and office equipment, which are accounted for in accordance with ASC 842, "Leases." Real estate leases are used to secure office space for the Company's administrative, engineering, production support and manufacturing activities. The Company's leases have remaining lease terms of up to eight years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. The components of lease expense were as follows: | | | | | | | | | | | | | Fiscal Year Ended | | (in thousands) | January 28, 2024 | | January 29, 2023 | | Operating lease cost | $ | 8,505 | | | $ | 5,939 | | | Short-term lease cost | 1,734 | | | 1,498 | | | | | | | Less: sublease income | (644) | | | (170) | | | Total lease cost | $ | 9,595 | | | $ | 7,267 | |
Supplemental cash flow information related to leases was as follows: | | | | | | | | | | | | | Fiscal Year Ended | | (in thousands) | January 28, 2024 | | January 29, 2023 | | Cash paid for amounts included in the measurement of lease liabilities | $ | 8,523 | | | $ | 5,759 | | | Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 3,086 | | | $ | 16,772 | | Right-of-use asset impairment (1) | $ | 3,884 | | | $ | — | |
(1) Right-of-use asset impairment relates to abandonments classified as restructuring (see Note 17, Restructuring). | | | | | | | | | January 28, 2024 | | Weighted-average remaining lease term - operating leases (in years) | 5.4 | | Weighted-average discount rate on remaining lease payments - operating leases | 6.9 | % |
Supplemental balance sheet information related to leases was as follows: | | | | | | | | | | | | | | | (in thousands) | January 28, 2024 | | January 29, 2023 | | Operating lease right-of-use assets in "Other Assets" | $ | 23,870 | | | $ | 31,807 | | | | | | | Operating lease liabilities in "Accrued Liabilities" | $ | 6,560 | | | $ | 6,209 | | | Operating lease liabilities in "Other long-term Liabilities" | 22,033 | | | 26,484 | | | Total operating lease liabilities | $ | 28,593 | | | $ | 32,693 | |
Maturities of lease liabilities as of January 28, 2024 are as follows: | | | | | | | (in thousands) | | | Fiscal Year Ending: | | | 2025 | $ | 8,351 | | | 2026 | 7,075 | | | 2027 | 5,215 | | | 2028 | 4,570 | | | 2029 | 3,717 | | | Thereafter | 5,856 | | | Total lease payments | 34,784 | | | Less: imputed interest | (6,191) | | | Total | $ | 28,593 | |
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