The Company leases its office facilities, located in Concord, California and Amersfoort, the Netherlands, and certain equipment and automobiles under non-cancelable operating leases with initial terms in excess of one year that require the Company to pay operating costs, property taxes, insurance and maintenance. The operating leases expire at various dates through 2030, with certain of the leases providing for renewal options, provisions for adjusting future lease payments based on the consumer price index, and the right to terminate the lease early. The Company does not assume renewals in determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The Company recorded the lease right-of-use asset and obligation at the present value of lease payments over the lease term. The rates implicit in the Company’s leases are generally not readily determinable. The

Company must estimate its incremental borrowing rate to discount the lease payments to present value. Operating lease assets also include lease incentives.

Supplemental cash flow information related to operating leases is as follows (dollars in thousands):

	Nine Months Ended
	September 30, 2020
Cash payments for operating leases	$	2,567
Right-of-use assets obtained in exchange for operating lease obligations		306

	September 30, 2020
Weighted-average remaining lease term	8.7 years
Weighted-average discount rate		8.9	%

Future minimum non-cancelable payments under operating leases as of September 30, 2020, were as follows (in thousands):

	Operating Leases
2020 (remainder)	$	828
2021		3,500
2022		2,975
2023		2,816
2024		2,720
Thereafter		16,053
Total future lease payments		28,892
Less imputed interest		9,772
Present value of lease liabilities	$	19,120

The operating lease expense for the three and nine months ended September 30, 2020 and 2019, were as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2020		2019		2020		2019
Operating lease expense	$	846	$	853	$	2,509	$	2,311

As of September 30, 2020, the Company had no leases that have not yet commenced.

The Company is party to agreements with certain providers for certain components of the INTERCEPT Blood System. Certain of these agreements require minimum purchase commitments from the Company.