Leases (Tables)

9 Months Ended

Oct. 25, 2025

Lease Cost, Supplemental Balance Sheet, and Supplemental Cash Flows

The following table summarizes the components of lease cost recognized in the condensed consolidated statements of operations for the three and nine months ended October 25, 2025 and October 26, 2024 (dollars in thousands):


	For the Three Months Ended				For the Nine Months Ended
	October 25, 2025		October 26, 2024		October 25, 2025		October 26, 2024
Lease cost under long-term operating leases	$	12,611	$	12,026	$	38,130	$	33,389
Lease cost under short-term operating leases	4,801		4,537		12,526		12,917
Variable lease cost under short-term and long-term operating leases(1)	1,522		602		3,830		2,607
Total lease cost	$	18,934	$	17,165	$	54,486	$	48,913

(1) Variable lease cost primarily includes insurance, maintenance, and other operating expenses related to our leased office facilities.

Our operating lease liabilities related to long-term operating leases were $125.2 million as of October 25, 2025 and $112.8 million as of January 25, 2025. Supplemental balance sheet information related to these liabilities is as follows:


	October 25, 2025		January 25, 2025
Weighted average remaining lease term	4.9 years		4.6 years
Weighted average discount rate	5.8	%	5.8	%

Supplemental cash flow information related to our long-term operating lease liabilities for the three and nine months ended October 25, 2025 and October 26, 2024 is as follows (dollars in thousands):


	For the Three Months Ended				For the Nine Months Ended
	October 25, 2025		October 26, 2024		October 25, 2025		October 26, 2024
Cash paid for amounts included in the measurement of lease liabilities	$	10,286	$	12,063	$	32,344	$	31,266
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$	4,607	$	38,530	$	39,510	$	61,452

Operating Lease Liability Maturity Schedule

As of October 25, 2025, maturities of our lease liabilities under our long-term operating leases for the next five fiscal years and thereafter are as follows (dollars in thousands):


Fiscal Year	Amount
Remainder of 2026	$	10,417
2027	43,582
2028	29,427
2029	18,864
2030	11,505
2031	6,714
Thereafter	25,112
Total lease payments	145,621
Less: imputed interest	(20,454)
Total	$	125,167

DYCOM INDUSTRIES INC 10-Q