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v3.23.3

Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Schedule of Components of Lease and Supplemental Cash Flow Information | Lease costs for operating and finance leases were as follows:
|  |  |  | Three Months Ended
(in thousands) |  | Statement of Operations Location |  | September 30, 2023 |  | October 1, 2022
Operating lease cost: |  |  |  |  |  |
Lease cost |  | Cost of goods sold |  | $ | 399 |  |  | $ | 413 |
Lease cost |  | Research and development expenses |  | 2,507 |  |  | 806 |
Lease cost |  | Selling, general and administrative expenses |  | 820 |  |  | 407 |
Variable lease cost(1) |  | Cost of goods sold |  | 54 |  |  | 51 |
Variable lease cost(1) |  | Research and development expenses |  | 21 |  |  | 75 |
Variable lease cost(1) |  | Selling, general and administrative expenses |  | 632 |  |  | 304 |
Operating lease cost |  |  |  | $ | 4,433 |  |  | $ | 2,056 |
Short-term lease cost: |  |  |  |  |  |
Short-term lease cost |  | Cost of goods sold |  | $ | 21 |  |  | $ | — |
Short-term lease cost |  | Research and development expenses |  | 37 |  |  | — |
Short-term lease cost |  | Selling, general and administrative expenses |  | 51 |  |  | 147 |
Short-term lease cost |  |  |  | $ | 109 |  |  | $ | 147 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of use assets |  | Cost of goods sold |  | $ | 49 |  |  | $ | 54 |
Amortization of right-of use assets |  | Research and development expenses |  | 4 |  |  | — |
Interest on lease liabilities |  | Interest expense |  | 5 |  |  | 3 |
Variable lease cost(1) |  | Cost of goods sold |  | 3 |  |  | — |
Finance lease cost |  |  |  | $ | 61 |  |  | $ | 57 |
Total lease cost |  |  |  | $ | 4,603 |  |  | $ | 2,260 |
____________ (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.
|  |  |  | Nine Months Ended
(in thousands) |  | Statement of Operations Location |  | September 30, 2023 |  | October 1, 2022
Operating lease cost: |  |  |  |  |  |
Lease cost |  | Cost of goods sold |  | $ | 1,210 |  |  | $ | 1,175 |
Lease cost |  | Research and development expenses |  | 6,979 |  |  | 1,871 |
Lease cost |  | Selling, general and administrative expenses |  | 1,937 |  |  | 2,270 |
Variable lease cost(1) |  | Cost of goods sold |  | 177 |  |  | 213 |
Variable lease cost(1) |  | Research and development expenses |  | 104 |  |  | 75 |
Variable lease cost(1) |  | Selling, general and administrative expenses |  | 1,800 |  |  | 304 |
Operating lease cost |  |  |  | $ | 12,207 |  |  | $ | 5,908 |
Short-term lease cost: |  |  |  |  |  |
Short-term lease cost |  | Cost of goods sold |  | $ | 63 |  |  | $ | — |
Short-term lease cost |  | Research and development expenses |  | 121 |  |  | — |
Short-term lease cost |  | Selling, general and administrative expenses |  | 148 |  |  | 446 |
Short-term lease cost |  |  |  | $ | 332 |  |  | $ | 446 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of use assets |  | Cost of goods sold |  | $ | 154 |  |  | $ | 144 |
Amortization of right-of use assets |  | Research and development expenses |  | 11 |  |  | — |
Interest on lease liabilities |  | Interest expense |  | 16 |  |  | 15 |
Variable lease cost(1) |  | Cost of goods sold |  | 8 |  |  | — |
Finance lease cost |  |  |  | $ | 189 |  |  | $ | 159 |
Total lease cost |  |  |  | $ | 12,728 |  |  | $ | 6,513 |
____________ (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs. Weighted average remaining lease terms and weighted average discount rates were:
|  | September 30, 2023
|  | Operating Leases |  | Finance Leases
Weighted average remaining lease term (years) |  | 14.3 |  | 2.9
Weighted average discount rate |  | 6.9 | % |  | 3.7 | %
Schedule of Assets and Liabilities Related to Operating and Finance Leases | Supplemental balance sheet information as of September 30, 2023 and December 31, 2022 related to leases are as follows:
(in thousands) |  | Balance Sheet Location |  | September 30, 2023 |  | December 31, 2022
Assets |  |  |  |  |  |
Operating leases |  | Operating lease right-of-use assets |  | $ | 132,671 |  |  | $ | 87,595 |
Finance leases, net |  | Property, plant and equipment, net |  | 515 |  |  | 688 |
Total lease assets |  |  |  | $ | 133,186 |  |  | $ | 88,283 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating lease liabilities |  | Current portion of operating lease liabilities |  | $ | 3,083 |  |  | $ | 3,812 |
Finance lease liabilities |  | Accrued expenses and other current liabilities |  | 209 |  |  | 224 |
Long-term: |  |  |  |  |  |
Operating lease liabilities |  | Operating lease liabilities, net of current portion |  | 76,382 |  |  | 55,854 |
Finance lease liabilities |  | Finance lease obligations and other long-term liabilities |  | 316 |  |  | 469 |
Total lease liabilities |  |  |  | $ | 79,990 |  |  | $ | 60,359 |
Schedule of Future Maturities of Operating Lease Liabilities | The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of September 30, 2023:
|  | September 30, 2023
(in thousands) |  | Operating Leases |  | Finance Leases
Remainder of 2023 |  | $ | 2,178 |  |  | $ | 59 |
2024 |  | 8,366 |  |  | 209 |
2025 |  | 8,048 |  |  | 178 |
2026 |  | 8,029 |  |  | 72 |
2027 |  | 8,179 |  |  | 37 |
Thereafter |  | 96,195 |  |  | — |
Total undiscounted future minimum lease payments |  | 130,995 |  |  | 555 |
Less imputed interest |  | (51,530) |  |  | (30) |
Total discounted future minimum lease payments |  | $ | 79,465 |  |  | $ | 525 |
Schedule of Future Maturities of Finance Lease Liabilities | The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of September 30, 2023:
|  | September 30, 2023
(in thousands) |  | Operating Leases |  | Finance Leases
Remainder of 2023 |  | $ | 2,178 |  |  | $ | 59 |
2024 |  | 8,366 |  |  | 209 |
2025 |  | 8,048 |  |  | 178 |
2026 |  | 8,029 |  |  | 72 |
2027 |  | 8,179 |  |  | 37 |
Thereafter |  | 96,195 |  |  | — |
Total undiscounted future minimum lease payments |  | 130,995 |  |  | 555 |
Less imputed interest |  | (51,530) |  |  | (30) |
Total discounted future minimum lease payments |  | $ | 79,465 |  |  | $ | 525 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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