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Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
The following table presents components of lease expense:
Years Ended December 31,
202420232022
Operating lease cost$7,995 $8,077 $8,285 
Finance lease cost:
Amortization of right-of-use assets1,596 1,600 1,318 
Interest expense359 345 351 
Short-term lease cost (1)477 604 438 
Sublease income(3,845)(2,284)(195)
Total lease cost$6,582 $8,342 $10,197 
_______________________________
(1) Excludes expenses related to leases with a lease term of one month or less.
The following table presents lease-related assets and liabilities recorded on the balance sheet.
As of December 31,
Financial Statement Line Item20242023
Assets:
Operating lease assetsOperating lease right-of-use assets$39,317 $43,357 
Finance lease assetsProperty, plant and equipment, net16,579 13,599 
Total lease assets$55,896 $56,956 
Liabilities:
Current liabilities:
Operating lease liabilitiesCurrent portion of operating lease liabilities$6,038 $5,735 
Finance lease liabilitiesOther current liabilities3,565 2,047 
Non-current liabilities:
Operating lease liabilitiesOperating lease liabilities, net of current portion42,291 47,281 
Finance lease liabilitiesOther non-current liabilities5,469 4,488 
Total lease liabilities$57,363 $59,551 
The following table contains supplemental cash flow information related to leases.
Years Ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases$8,511 $8,462 $14,214 
Operating cash flows used in finance leases359 345 351 
Financing cash flows used in finance leases2,400 1,766 3,003 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)692 1,028 5,181 
Right-of-use assets obtained in exchange for new finance lease liabilities5,170 1,619 1,263 
_______________________________
(1) Includes new leases, renewals, and modifications.
The weighted average remaining lease term and weighted-average discount rate for operating and finance leases were as follows:
As of December 31,
20242023
Weighted-average remaining lease term - operating leases8.5 years9.2 years
Weighted-average remaining lease term - finance leases2.6 years3.1 years
Weighted-average discount rate - operating leases7.7 %7.7 %
Weighted-average discount rate - finance leases5.8 %5.2 %
The maturities of lease liabilities as of December 31, 2024, is as follows:
Operating LeasesFinance Leases
2025$8,675 $4,004 
20268,516 3,398 
20278,319 2,141 
20286,773 167 
20296,909 78 
Thereafter25,227 — 
Total future minimum lease payments64,419 9,788 
Less: imputed interest16,090 754 
Total lease liabilities$48,329 $9,034 
Subleases
We have entered into subleases for certain leased buildings or portions of leased buildings when no longer needed for our current operational needs. The weighted-average remaining lease term of our subleases is 9.7 years. In June 2023, we began subleasing our Taunton and Irvine sites, under subleases that extend through the lease termination dates of the respective head leases. We are subleasing a portion of our leased corporate headquarters office space under two separate subleases that expire in 2027 and 2029, respectively. The undiscounted cash flows to be received under operating subleases subsequent to December 31, 2024, is as follows:
2025$3,820 
20263,937 
20273,920 
20283,626 
20293,374 
Thereafter19,261 
Leases Leases
The following table presents components of lease expense:
Years Ended December 31,
202420232022
Operating lease cost$7,995 $8,077 $8,285 
Finance lease cost:
Amortization of right-of-use assets1,596 1,600 1,318 
Interest expense359 345 351 
Short-term lease cost (1)477 604 438 
Sublease income(3,845)(2,284)(195)
Total lease cost$6,582 $8,342 $10,197 
_______________________________
(1) Excludes expenses related to leases with a lease term of one month or less.
The following table presents lease-related assets and liabilities recorded on the balance sheet.
As of December 31,
Financial Statement Line Item20242023
Assets:
Operating lease assetsOperating lease right-of-use assets$39,317 $43,357 
Finance lease assetsProperty, plant and equipment, net16,579 13,599 
Total lease assets$55,896 $56,956 
Liabilities:
Current liabilities:
Operating lease liabilitiesCurrent portion of operating lease liabilities$6,038 $5,735 
Finance lease liabilitiesOther current liabilities3,565 2,047 
Non-current liabilities:
Operating lease liabilitiesOperating lease liabilities, net of current portion42,291 47,281 
Finance lease liabilitiesOther non-current liabilities5,469 4,488 
Total lease liabilities$57,363 $59,551 
The following table contains supplemental cash flow information related to leases.
Years Ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases$8,511 $8,462 $14,214 
Operating cash flows used in finance leases359 345 351 
Financing cash flows used in finance leases2,400 1,766 3,003 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)692 1,028 5,181 
Right-of-use assets obtained in exchange for new finance lease liabilities5,170 1,619 1,263 
_______________________________
(1) Includes new leases, renewals, and modifications.
The weighted average remaining lease term and weighted-average discount rate for operating and finance leases were as follows:
As of December 31,
20242023
Weighted-average remaining lease term - operating leases8.5 years9.2 years
Weighted-average remaining lease term - finance leases2.6 years3.1 years
Weighted-average discount rate - operating leases7.7 %7.7 %
Weighted-average discount rate - finance leases5.8 %5.2 %
The maturities of lease liabilities as of December 31, 2024, is as follows:
Operating LeasesFinance Leases
2025$8,675 $4,004 
20268,516 3,398 
20278,319 2,141 
20286,773 167 
20296,909 78 
Thereafter25,227 — 
Total future minimum lease payments64,419 9,788 
Less: imputed interest16,090 754 
Total lease liabilities$48,329 $9,034