iMedia Brands, Inc. Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

12 Months Ended

Jan. 29, 2022

The components of lease expense were as follows:


	For the Years Ended
	January 29, 2022		January 30, 2021
Operating leases:
Long-term operating lease cost	$	1,523	$	972
Short-term lease cost		172		63
Variable cost		56		33
Finance leases:
Amortization of right-of-use assets		83		104
Interest expense		3		7
Variable cost		96		57

Variable lease costs includes incremental costs for printers and common area maintenance charges.

Supplemental cash flow information related to leases was as follows:


	For the Years Ended
	January 29, 2022		January 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	1,456	$	1,095
Operating cash flows used for finance leases		2		7
Financing cash flows used for finance leases		86		103

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases		7,741		1,299
Finance leases		—		62

The weighted average remaining lease term and weighted average discount rates related to leases were as follows:


	January 29, 2022	January 30, 2021
Weighted average remaining lease term:
Operating leases	2.7 years	2.8 years
Finance leases	0.4 years	1.1 years


Weighted average discount rate:
Operating leases	4.5%	6.8%
Finance leases	6.0%	5.7%

Supplemental balance sheet information related to leases is as follows:


Leases	Classification	January 29, 2022		January 30, 2021
Assets:
Operating lease right-of-use assets	Other assets	$	7,474	$	1,116
Finance lease right-of-use assets	Property and equipment, net		17		101
Total lease right-of-use assets		$	7,491	$	1,217

Operating lease liabilities:
Current portion of operating lease liabilities	Current portion of operating lease liabilities	$	2,331	$	462
Operating lease liabilities, excluding current portion	Long term operating lease liabilities		5,169		646
Total operating lease liabilities			7,500		1,108

Finance lease liabilities:
Current portion of finance lease liabilities	Current liabilities: Accrued liabilities		19		86
Finance lease liabilities, excluding current portion	Other long term liabilities		—		19
Total finance lease liabilities			19		105
Total lease liabilities		$	7,519	$	1,213

Future maturities of lease liabilities as of January 29, 2022 are as follows:

Future maturities of lease liabilities as of January 29, 2022 are as follows: