XML 32 R22.htm IDEA: XBRL DOCUMENT

LEASES	3 Months Ended
LEASES	Mar. 31, 2023
Leases [Abstract]
LEASES	LEASES The Company leases certain office spaces and research and development laboratory facilities, vehicles, and office equipment with remaining lease terms ranging from one to fifteen years. Due to the increase in remote and hybrid work by the Company's employees and the Company's plans to build new laboratory facilities, the Company is executing a multi-year strategy to reset its real estate footprint. As part of that strategy, in fiscal year 2022, the Company entered into new leases in west Salt Lake City, Utah and South San Francisco, California with the intent to relocate much of its core operations to these new facilities. During the three months ended March 31, 2023, the Company took possession of the remaining phases of the west Salt Lake City facility and recognized an additional $5.9 million right-of-use asset and corresponding lease liability, net of tenant improvement allowance not yet received. Total future rent payments under the west Salt Lake City lease are approximately $79.6 million. The Company has also vacated certain existing facilities. During the three months ended March 31, 2022, the Company ceased the use of one of its leased facilities in Salt Lake City. As a result, the Company recorded an impairment charge on right-of-use assets of $8.6 million and an impairment charge of $2.1 million on the related leasehold improvements. The total $10.7 million impairment is included in Goodwill and long-lived asset impairment charges in the Condensed Consolidated Statements of Operations. During the three months ended March 31, 2023, the Company decided to cease the use of its corporate headquarters in Salt Lake City and transition corporate support operations to its new facility in west Salt Lake City. As the Company expects to recover the carrying value of the related right-of-use assets through the designation of a sub-lessee or new tenant for the facility, the Company has not recognized a loss on the lease as of March 31, 2023. The Company will remain liable for all rent payments until a sub-lessee or new tenant can be found. As of March 31, 2023, except as noted above, the Company expects to continue to occupy our existing facilities until the expiration of the leases.