Leases

9 Months Ended

Sep. 30, 2023

The Company enters into leases for real estate and equipment. Real estate leases are for our corporate office space and laboratories around the world. Real estate leases have remaining lease terms of less than 1 year to 17 years. Many of the Company’s leases include options to extend the leases on a month to month basis or for set periods for up to 20 years. Many leases also include options to terminate the leases within 1 year or per other contractual terms.

The components of lease expense were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Operating lease cost	$	7,002	$	6,482	$	20,637	$	19,357
Variable lease cost	2,372		2,240		6,544		6,353

Supplemental cash flow information related to the leases was as follows (in thousands):


	Nine Months Ended September 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	14,883	$	12,045

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	20,412		29,915

Supplemental balance sheet information related to the leases was as follows (in thousands):


	As of
	September 30, 2023			December 31, 2022
Operating lease right-of-use assets - related parties	$	84,592		$	86,356
Operating lease right-of-use assets - non-related parties	59,555			52,712
Operating lease right-of-use assets	$	144,147		$	139,068

Other current liabilities - related parties	5,592			5,409
Other current liabilities - non-related parties	14,686			13,863
Other current liabilities	$	20,278		$	19,272

Operating lease liabilities - related parties	92,049			93,393
Operating lease liabilities - non-related parties	50,990			45,474
Operating lease liabilities	143,039			138,867
Total operating lease liabilities	$	163,317		$	158,139

Weighted Average Remaining Lease Term (years)
Operating leases	10.3			11.1
Weighted Average Discount Rate
Operating leases	5.4		%	5.2		%

Lease payments due related to lease liabilities as of September 30, 2023 were as follows (in thousands):


	Related Party Operating Leases		Non-Related Parties Operating Leases		Total Operating Leases
Remainder of 2023	$	2,827	$	4,157	$	6,984
2024	11,412		16,333		27,745
2025	11,607		15,110		26,717
2026	11,807		12,878		24,685
2027	10,839		9,843		20,682
Later years	100,278		14,449		114,727
Total lease payments	148,770		72,770		221,540
Less: imputed interest	(51,129)		(7,094)		(58,223)
Total	$	97,641	$	65,676	$	163,317

As of September 30, 2023, we have several additional leases with contractual obligations, which have not yet commenced, with future payments of $4.6 million.