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Leases | 9 Months Ended
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Sep. 30, 2023
Leases |
Leases | Note 5. Leases The Company has operating and finance leases for facilities and certain equipment. Leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheet. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company’s leases have non-cancelable lease terms of approximately one year to thirteen years, some of which include options to extend the leases for up to ten years. The exercise of lease renewal options is at the Company’s sole discretion. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for common area maintenance, landlord incentives and/or inflation. The Company’s office building lease in Aliso Viejo, California (Aliso Facility) is one property containing three existing office buildings, comprising approximately 160,000 rentable square feet of space, which was accounted for as a finance lease. The term of the Aliso Facility commenced on April 1, 2019 for expense recognition and continues for thirteen years. The lease agreement contains an option to extend the lease for two additional five year periods at market rates. The Company relocated its corporate administrative headquarters, along with certain laboratory, research and development and warehouse space, to the Aliso Facility in the second quarter of 2022. The Company also leases two adjacent facilities and two office suites located in San Clemente, California and a facility in Burlington, Massachusetts. The total leased square footage of the San Clemente facilities equals approximately 113,000 and the leases expire on May 31, 2030. Each San Clemente lease contains an option to extend the lease for one additional five-year period at market rates. The total leased square footage of the Burlington facility is approximately 60,000 square feet, and the lease expires on July 31, 2033. The Burlington facility lease contains an option to extend the lease for one additional five-year period at market rates. The Company terminated its lease in Waltham, Massachusetts pursuant to a termination agreement during the first quarter of 2022. ​ The Company’s remaining U.S.-based and foreign subsidiaries’ leased office space totals less than 14,000 square feet. The following table presents the maturity of the Company’s operating and finance lease liabilities within the condensed consolidated balance sheets: ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Maturity of Lease Liabilities | ​ | Operating | ​ | Finance
(in thousands) |  | Leases (a) | ​ | Leases (b)
Remainder of 2023 | ​ | $ | 762 | ​ | $ | 1,268
2024 | ​ | ​ | 3,751 | ​ | ​ | 5,184
2025 | ​ | ​ | 3,684 | ​ | ​ | 5,340
2026 | ​ | ​ | 3,720 | ​ | ​ | 5,500
2027 | ​ | ​ | 3,832 | ​ | ​ | 5,665
2028 | ​ | ​ | 3,928 | ​ | ​ | 5,835
Thereafter | ​ | ​ | 32,457 | ​ | ​ | 96,057
Total lease payments | ​ | $ | 52,134 | ​ | $ | 124,849
Less: imputed interest | ​ | ​ | 20,560 | ​ | ​ | 53,194
Total lease liabilities | ​ | $ | 31,574 | ​ | $ | 71,655
(a) | Operating lease payments include $22.6 million related to options to extend lease terms that are reasonably certain of being exercised.
(b) | Finance lease payments include $75.8 million related to options to extend lease terms that are reasonably certain of being exercised.

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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