We have operating leases for our corporate headquarters, office spaces and laboratory facilities. One of our office space leases has a finance lease component representing lessor provided furniture and office equipment. Our finance leases, which are presented as part of “Property and equipment, net” in our consolidated balance sheets, are not material.

Certain leases include renewal options at our election and we include the renewal options when we are reasonably certain that the renewal option will be exercised. The lease liabilities were measured using a weighted-average discount rate based on the most recent borrowing rate as of the calculation of the respective lease liability, adjusted for the remaining lease term and aggregate amount of the lease.

The components of lease cost are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Straight line operating lease costs	$	1,457	$	995	$	4,078	$	2,684
Finance lease costs
Straight line finance lease costs		88		—		205		—
Interest on finance lease liability		27		—		83		—
Variable lease costs		1,111		257		2,831		558
Total lease cost	$	2,683	$	1,252	$	7,197	$	3,242

Supplemental cash flow information related to leases are as follows:


	Nine Months Ended September 30,
	2021		2020
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,474	$	2,749
Operating cash flows for finance lease — cash paid for interest		101		—
Financing cash flows for finance lease — cash paid for principal		71		—
Operating lease right-of-use assets obtained in exchange for operating lease obligations		6,380		11,814

Supplemental information related to the remaining lease term and discount rate are as follows:


	September 30,
	2021			2020
Weighted-average remaining lease term (in years)
Operating leases		5.7			5.2
Finance lease		4.3			—
Weighted-average discount rate
Operating leases		5.58	%		5.91	%
Finance lease		6.62	%		—

As of September 30, 2021, future minimum lease payments for our noncancelable leases are as follows:


	Operating Leases			Finance Lease
	(in thousands)
Remainder of 2021	$	1,214		$	66
Year ending December 31:
2022		6,455			420
2023		5,289			432
2024		4,478			445
2025		3,967			459
Thereafter		6,317			38
Total future minimum lease payments		27,720			1,860
Imputed interest		(4,038	)		(248	)
Total	$	23,682		$	1,612

Reported as of September 30, 2021
Operating lease liabilities, current portion	$	4,999
Operating lease liabilities, net of current portion		18,683
Total operating lease liabilities	$	23,682
Finance lease liability, current portion — Included in “Other accrued liabilities”				$	283
Finance lease liability, net of current portion — Included in “Other long-term liabilities”					1,329
Total finance lease liability				$	1,612

We recognized an impairment loss for certain of our asset groups estimated using discounted cash flow model (income approach) during the three months ended March 31, 2021 of $3.3 million, which is included in selling, general and administrative expenses in our condensed consolidated statement of operations for the nine months ended September 30, 2021. The impairment loss recorded includes $2.6 million related to operating lease right-of-use assets and $0.7 million related to property and equipment namely leasehold improvements and office furniture and equipment that we no longer use.

In December 2019, we entered into a manufacturing agreement to secure clinical and commercial scale manufacturing capacity for the manufacture of batches of active pharmaceutical ingredients for product candidates of certain subsidiaries of BridgeBio. Unless terminated as allowed within the manufacturing agreement, the agreement will expire five years from when qualified operations begin. Under the terms of the agreement, we are assigned a dedicated manufacturing suite for certain months in each calendar year for a one-time fee of $10.0 million, which will be applied to the buildout, commissioning, qualification, validation, equipping and exclusive use of the dedicated manufacturing suite.

We recorded a construction-in-progress asset of $10.0 million for the payments directly associated with the dedicated manufacturing suite as these payments are deemed to represent a non-lease component. The readiness determination phase of the dedicated manufacturing suite is expected to be completed in 2021. The remaining payable related to the dedicated manufacturing suite, recorded as part of “Other accrued liabilities” in the condensed consolidated balance sheets, amounted to $2.0 million and $4.0 million as of September 30, 2021 and December 31, 2020, respectively.