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Commitments and Contingencies | 3 Months Ended
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Mar. 31, 2022
Commitments And Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Note 6. Commitments and Contingencies Operating Leases 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):
|  | Three Months Ended |  |
|  | March 31,
|  | 2022 |  |  | 2021 |  |
Cash payments for operating leases |  | $ | 910 |  |  | $ | 1,000 |  |
Right-of-use assets obtained in exchange for operating lease obligations |  |  | 1,315 |  |  |  | 41 |  |
|  | 2022 |  |  | 2021 |
Weighted-average remaining lease term |  | 7.1 years |  |  | 8.3 years |
Weighted-average discount rate |  |  | 8.3 | % |  |  | 9.0 | %
Future minimum non-cancelable payments under operating leases as of March 31, 2022, were as follows (in thousands):
|  |  | Operating Leases |
2022 (remainder) |  |  | $ | 2,535 |
2023 |  |  |  | 3,519 |
2024 |  |  |  | 3,418 |
2025 |  |  |  | 3,115 |
2026 |  |  |  | 3,071 |
Thereafter |  |  |  | 10,779 |
Total future lease payments |  |  |  | 26,437 |
Less imputed interest |  |  |  | 7,682 |
Present value of lease liabilities |  |  | $ | 18,755 |
The operating lease expense for the three months ended March 31, 2022 and 2021, were as follows:
|  | Three Months Ended |
|  | March 31, |
|  | 2022 |  |  | 2021 |
Operating lease expense |  | $ | 848 |  |  | $ | 802 |
As of March 31, 2022, the Company had no leases that have not yet commenced. Purchase Commitments 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. As of March 31, 2022, the Company had $23.4 million of short-term purchase commitments and $2.7 million of long-term purchase commitments, which are not recorded in the Company’s condensed consolidated balance sheets.

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