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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Summary of Lease Assets and Liabilities | The following table summarizes the lease assets and liabilities as of December 31, 2024 and 2023 (in thousands):
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Assets |  |  |  |  |  |
Operating lease assets |  | $ | 143,461 |  |  | $ | 153,993 |
Total lease assets |  |  | 143,461 |  |  |  | 153,993 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating lease liabilities |  |  | 17,288 |  |  |  | 15,625 |
Non-current |  |  |  |  |  |
Operating lease liabilities, net of current portion |  |  | 206,405 |  |  |  | 223,007 |
Total lease liabilities |  | $ | 223,693 |  |  | $ | 238,632 |
Summary of Operating Lease Costs Included in Research and Development and General and Administrative Expense, as well as Sublease Income | The following table summarizes operating lease costs included in research and development and general and administrative expense, as well as sublease income for the years ended December 31, 2024, 2023 and 2022 (in thousands):
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Operating lease costs |  | $ | 24,417 |  |  | $ | 25,870 |  |  | $ | 34,896 |
Short-term lease costs |  |  | 40 |  |  |  | — |  |  |  | 824 |
Variable lease costs |  |  | 12,364 |  |  |  | 14,387 |  |  |  | 11,882 |
Sublease income |  |  | (573 | ) |  |  | (137 | ) |  |  | — |
Net lease cost |  | $ | 36,248 |  |  | $ | 40,120 |  |  | $ | 47,602 |
Summary of Maturity of Undiscounted Payments Due under Lease Liabilities and Present Value of Those Liabilities | The following table summarizes the maturity of undiscounted payments due under lease liabilities and the present value of those liabilities as of December 31, 2024 (in thousands):
|  | Total |
2025 |  |  | 29,416 |
2026 |  |  | 29,468 |
2027 |  |  | 28,704 |
2028 |  |  | 28,158 |
2029 |  |  | 27,314 |
Thereafter |  |  | 151,570 |
Total |  | $ | 294,630 |
Present value adjustment |  |  | (70,937 | )
Present value of lease liabilities |  | $ | 223,693 |
Summary of Lease Term and Discount Rate | The following table summarizes the lease term (in years) and discount rate for operating leases as of December 31, 2024 and 2023:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Weighted-average remaining lease term |  |  | 9.8 |  |  |  | 10.8 |
Weighted-average discount rate |  |  | 5.9 | % |  |  | 5.9 | %
Lessee, Operating Lease Cash Flow Payments | The following table summarizes the cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2024, 2023 and 2022 (in thousands):
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows used in operating leases |  | $ | (28,949 | ) |  | $ | (27,310 | ) |  | $ | (17,004 | )
Operating lease non-cash items: |  |  |  |  |  |  |  |  |
Right-of-use assets increased through lease modifications and reassessments |  |  | 525 |  |  |  | 2,660 |  |  |  | 1,208 |
Right-of-use assets obtained in exchange for operating lease liabilities |  |  | 243 |  |  |  | 7,552 |  |  |  | — |
Leasehold improvements paid directly by landlord |  |  | — |  |  |  | — |  |  |  | 19,252 |

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- Definition Lessee, operating lease cash flow payments. + References No definition available. + Details
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- Definition Lessee, weighted average remaining lease term and weighted average discount rate. + References No definition available. + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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