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Property and Equipment, net
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment, net
Note 8. Property and Equipment, net
Property and equipment, net consists of the following (in thousands):
December 31,
20222021
Office equipment$22,734 $22,554 
Laboratory equipment192,141 105,040 
Computer equipment92,115 79,871 
Land10,429 10,494 
Building and leasehold improvements564,170 434,321 
Operating lease right-of-use assets23,311 27,308 
Construction in progress47,224 220,052 
952,124 899,640 
Less accumulated depreciation and amortization(212,814)(175,720)
Property and equipment, net$739,310 $723,920 
Depreciation expense, including amortization expense of leasehold improvements, was $46.3 million, $36.3 million and $29.6 million for the years ended December 31, 2022, 2021 and 2020, respectively.
In March 2017, we acquired additional adjacent buildings to our global headquarters in Wilmington, Delaware and in 2019, began demolition of these buildings and construction of a new laboratory and office building totaling approximately 200,000 square feet. The certificate of occupancy was received in December 2021 and we capitalized approximately $158.2 million in building and office equipment.
In February 2018, we signed an agreement to rent a building in Morges, Switzerland for an initial term of 15 years plus one year of free rent, with multiple options to extend for an additional 20 years. The building serves as our new European headquarters and consists of approximately 100,000 square feet of office space. This building allowed for consolidation of our European operations that were located in Geneva and Lausanne, Switzerland. In June 2019, we obtained control of the Morges building to begin our construction activity, which was completed in 2020. We determined the lease to be a finance lease and recorded a lease liability of $31.1 million and a finance lease right-of-use asset of $29.1 million, net of a lease incentive from our landlord of $2.0 million, at lease commencement. We have capitalized approximately $20.1 million in leasehold improvements as of December 31, 2022 relating to Morges.
In July 2018, we signed an agreement to purchase land located in Yverdon, Switzerland. The land was purchased, in cash, for approximately $4.8 million. Upon this parcel, we constructed a large molecule production facility which received a GMP drug manufacturing license in June 2022 from Swissmedic authorities. We capitalized approximately $176.2 million in building and approximately $79.7 million in laboratory equipment as of December 31, 2022.
We are the lessee of several contracts, including those to secure fleet vehicles, buildings and equipment. Our lease agreements do not contain any material residual value guarantees or restrictive covenants. Some of our building leases include options to renew and the exercise of these options is at our discretion.
Our current operating lease liabilities are reflected in accrued and other current liabilities and our noncurrent operating lease liabilities are reflected in other liabilities on the consolidated balance sheets and are as follows (in thousands):
December 31,
20222021
Current
Operating lease liabilities$8,195$10,554
Finance lease liabilities3,1792,635
Noncurrent
Operating lease liabilities14,10915,608
Finance lease liabilities30,08331,632
Total lease liabilities$55,566$60,429
The maturity of our lease liabilities are as follows (in thousands):
OperatingFinance
2023$9,060$4,443
20245,1713,828
20252,0423,459
20261,5213,036
20271,5302,828
After 20275,99523,665
Total lease cash payments$25,319$41,259
Less: discount 3,0157,997
Present value of lease liabilities$22,304$33,262
The cash paid for amounts included in the measurement of our operating lease liabilities for the years ended December 31, 2022, 2021 and 2020 was $11.8 million, $14.3 million and $12.1 million, respectively, in operating cash flows. The cash paid for amounts included in the measurement of our finance lease liabilities for the years ended December 31, 2022, 2021 and 2020 was $2.9 million, $2.4 million and $0.8 million respectively, in financing cash flows.
As of December 31, 2022, our finance and operating leases had a weighted average lease term of approximately 12.0 years and 5.5 years, respectively. The discount rate of our leases is an approximation of an estimated incremental borrowing rate and is dependent upon the term and economics of each agreement. The weighted average discount rate of our finance and operating leases was approximately 4.2% and 4.4%, respectively.
As of December 31, 2021, our finance and operating leases had a weighted average lease term of approximately 13.4 years and 4.9 years, respectively. The weighted average discount rate of our finance and operating leases was approximately 4.1% and 4.8%, respectively.
As of December 31, 2020, our finance and operating leases had a weighted average lease term of approximately 14.2 years and 4.7 years, respectively. The weighted average discount rate of our finance and operating leases was approximately 3.7% and 4.7%, respectively.
For the year ended December 31, 2022, we incurred approximately $11.7 million of expense related to our operating leases, approximately $3.1 million of amortization on our finance lease right-of-use assets and approximately $1.4 million of interest expense on our finance lease liabilities. For the year ended December 31, 2021, we incurred approximately $14.2 million of expense related to our operating leases, approximately $2.7 million of amortization on our finance lease right-of-use assets and approximately $1.3 million of interest expense on our finance lease liabilities. For the year ended December 31, 2020, we incurred approximately $12.5 million of expense related to our operating leases, approximately $2.6 million of amortization on our finance lease right-of-use assets and approximately $1.2 million of interest expense on our finance lease liabilities.