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Leases | 3 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
Leases | Leases We have operating leases for our office and laboratory facilities, including our corporate headquarters, with terms that expire from 2025 through 2031. We have two options to extend the term of the operating lease for our corporate headquarters for a period of ten years each. However, as we were not reasonably certain to exercise either of those options at lease commencement, neither option was recognized as part of the associated operating lease right-of-use, or ROU, asset or liability. In connection with our operating leases, in lieu of cash security deposits, Wells Fargo Bank, N.A., issued letters of credit on our behalf, which are secured by deposits totaling $3.2 million. Our operating lease cost was $3.4 million and $2.5 million for the three months ended March 31, 2021 and 2020, respectively. Cash paid for amounts included in the measurement of lease liabilities was $2.6 million and $2.1 million for the three months ended March 31, 2021 and 2020, respectively. Our operating leases had a weighted average remaining lease term of 9.8 years at March 31, 2021 and 10.3 years at December 31, 2020, and a weighted average discount rate of 5.3% at March 31, 2021 and 5.6% at December 31, 2020. Approximate future minimum lease payments under operating leases were as follows:
(in millions) | March 31, 2021
Year ending December 31, 2021 (9 months remaining) | $ | 9.1 |
Year ending December 31, 2022 | 14.9 |
Year ending December 31, 2023 | 15.5 |
Year ending December 31, 2024 | 16.0 |
Year ending December 31, 2025 | 15.5 |
Thereafter | 85.4 |
Total operating lease payments | 156.4 |
Less accreted interest | 36.7 |
Total operating lease liabilities | 119.7 |
Less current operating lease liabilities | 12.2 |
Noncurrent operating lease liabilities | $ | 107.5 |
(1) Amounts presented in the table above exclude $5.8 million of non-cancelable future minimum lease payments for operating leases that have not yet commenced. (2) Current operating lease liabilities are included in other current liabilities on the condensed consolidated balance sheets.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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