Leases

12 Months Ended

Dec. 31, 2021

As of December 31, 2021, the maturities of the operating lease liabilities and a reconciliation to the present value of lease liabilities were as follows (in thousands):


	Remaining Lease Payments
2022	$	9,752
2023	10,313
2024	10,388
2025	6,929
2026	5,904
Thereafter	59,496
Total remaining lease payments	102,782
Less: imputed interest	(23,609)
Total operating lease liabilities	79,173
Less: current portion	(6,884)
Long-term operating lease liabilities	$	72,289
Weighted-average remaining lease term (in years)	12.76
Weighted-average discount rate	3.9		%

The following summarizes additional supplemental data related to the operating leases for the years ended December 31, 2021 and 2020 (in thousands):


	2021		2020
Operating lease costs	$	11,231	$	8,371
Right-of-use assets obtained in exchange for operating lease liabilities	$	39,785	$	25,461
Cash paid for operating leases	$	10,165	$	7,116

As of December 31, 2021, the Company has entered into $4.9 million of contractually binding minimum lease payments for a lease executed but not yet commenced. This amount is excluded from the above tables and relates to the lease of an administrative space in Carlsbad, California that commenced in January 2022.

In 2021, the Company’s lease of its new laboratory and headquarters facility in Fort Myers, Florida commenced. As of December 31, 2021, the Company had paid approximately $25.0 million to the landlord for the construction of the underlying assets which was classified as a prepaid lease asset until the lease commenced in the third quarter of 2021 at which time the prepaid lease asset was included in the calculation of the right-of-use asset. As of December 31, 2021, the Company had paid approximately $17.0 million to the landlord for leasehold improvements, which are included in property and equipment, net, for its new laboratory and headquarters facility. As of December 31, 2021, all disbursements to the landlord had been completed. As of December 31, 2020, $21.9 million remained unpaid in a construction disbursement escrow account for final remaining disbursements to the landlord and remained in restricted cash on the Consolidated Balance Sheets.