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Leases | 9 Months Ended
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Sep. 30, 2024
Leases |
Leases | Note 13. Leases The Company has operating and finance leases for corporate offices and certain equipment. These leases have remaining lease terms of one year to approximately thirteen years, some of which include options to extend the leases for multiple renewal periods of five years each. Under the terms of the facilities leases, the Company is required to pay its proportionate share of property taxes, insurance and normal maintenance costs. In October 2022, Cryoport Systems entered into a lease agreement commencing in 2025 for an administrative, global supply chain center and research and development center in Santa Ana, California, in the aggregate rental amount of $27.7 million spanning 10 years. This lease is not included in the balance sheet right-of-use asset and lease liability as it commences in 2025. The components of lease cost were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended | ​ | ​
​ | ​ | September 30, | ​ | ​
​ |  | 2024 |  | 2023 |  |
Operating lease cost | ​ | $ | 6,154 | ​ | $ | 5,292 | ​ | ​
Finance lease cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of right-of-use assets | ​ | ​ | 321 | ​ | ​ | 139 | ​ | ​
Interest on finance lease liabilities | ​ | ​ | 103 | ​ | ​ | 36 | ​ | ​
​ | ​ | ​ | 424 | ​ | ​ | 175 | ​ | ​
Total lease cost | ​ | ​ | 6,578 | ​ | ​ | 5,467 | ​ | ​
​ Other information related to leases was as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental Cash Flows Information | ​ | Nine Months Ended September 30,
​ |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  | ​ | ​ |  | ​ | ​
Operating cash flows from operating leases |  | $ | 6,043 |  | $ | 4,891
Operating cash flows from finance leases |  | $ | 372 |  | $ | 161
Financing cash flows from finance leases | ​ | $ | 306 | ​ | $ | 123
​ | ​ | ​ | ​ | ​ | ​ | ​
Right-of-use assets obtained in exchange for lease liabilities (in thousands): | ​ | ​ | ​ | ​ | ​ | ​
Operating leases |  | $ | 1,543 |  | $ | 9,581
Finance leases | ​ | $ | 835 | ​ | $ | 609
​ ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31, |
​ |  | 2024 |  | 2023 |
Weighted-Average Remaining Lease Term |  | ​ |  | ​ | ​
Operating leases |  | 8.1 | years | 10.8 | years
Finance leases |  | 3.6 | years | 4.2 | years
​ | ​ | ​ | ​ | ​ | ​
Weighted-Average Discount Rate |  |  |  |  | ​
Operating leases |  | 7.4 | % | 8.7 | %
Finance leases |  | 8.3 | % | 8.4 | %
​ Future minimum lease payments under non-cancellable leases that have commenced as of September 30, 2024 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Operating | ​ | Finance
Years Ending December 31 |  | Leases |  | Leases
2024 (excluding the nine months ended September 30, 2024) |  | $ | 2,003 |  | $ | 148
2025 |  | ​ | 7,581 |  | ​ | 595
2026 |  | ​ | 5,831 |  | ​ | 566
2027 |  | ​ | 5,015 |  | ​ | 433
2028 | ​ | ​ | 3,771 | ​ | ​ | 284
Thereafter |  | ​ | 19,439 |  | ​ | 30
Total future minimum lease payments |  | ​ | 43,640 |  | ​ | 2,056
Less: imputed interest |  | ​ | (11,340) |  | ​ | (280)
Total | ​ | $ | 32,300 | ​ | $ | 1,776
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Operating | ​ | Finance
Reported as of September 30, 2024 |  | Leases |  | Leases
Current lease liabilities | ​ | $ | 5,834 | ​ | $ | 470
Noncurrent lease liabilities | ​ |  | 26,466 | ​ |  | 1,306
Total | ​ | $ | 32,300 | ​ | $ | 1,776
​

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- Definition The entire disclosure for lessee, operating and finance leases. + References No definition available. + Details
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- References No definition available. + Details
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