Leases

6 Months Ended

Jun. 30, 2021

The Company leases office space, domestically and internationally, under operating leases. The Company’s leases have remaining lease terms generally between one year and ten years. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities, and long-term operating lease liabilities on the Company’s unaudited condensed consolidated balance sheets. The Company does not have any finance leases.

The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded on the unaudited condensed consolidated balance sheet as of June 30, 2021 (in thousands):


Years ending December 31,	Amount
2021 (remaining six months)	$	4,330
2022	7,384
2023	4,573
2024	3,925
2025	4,043
Thereafter	21,325
Total minimum lease payments	45,580
Less: amount of lease payments representing interest	(7,754)
Present value of future minimum lease payments	37,826
Less: current obligations under leases	(6,722)
Long-term lease obligations	$	31,104

As of June 30, 2021, the weighted-average remaining lease term for the Company’s operating leases was 8.0 years and the weighted-average discount rate used to determine the present value of the Company’s operating leases was 4.3%.

Operating lease costs included in research and development and selling, general and administrative costs on the condensed consolidated statements of operations were $1.9 million and $2.9 million for the three months ended June 30, 2021 and 2020, respectively. Operating lease costs included in research and development and selling, general and administrative costs on the condensed consolidated statements of operations were $3.7 million and $5.8 million for the six months ended June 30, 2021 and 2020, respectively.

Cash paid for amounts included in the measurement of operating lease liabilities were $4.3 million and $4.3 million for the six months ended June 30, 2021 and 2020, respectively.