Leases (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Lease Assets and Related Lease Liabilities

The Company’s lease assets and related lease liabilities were as follows (in thousands):

	Balance Sheet Line Item	March 31, 2021			December 31, 2020
Assets
Finance:
Right-of-use assets - cost		$	50,796		$	50,477
Accumulated amortization			(23,485	)		(20,871	)
Finance lease right-of-use assets, net	Finance lease right-of-use assets		27,311			29,606
Operating:
Right-of-use assets - cost			7,340			3,934
Accumulated amortization			(2,264	)		(1,891	)
Operating lease right-of-use assets, net	Other assets		5,076			2,043
Total lease assets		$	32,387		$	31,649

Liabilities
Current:
Finance lease liabilities	Finance lease liabilities, current	$	12,480		$	12,330
Operating lease liabilities	Accrued and other current liabilities		1,724			1,188
Non-current:
Finance lease liabilities	Finance lease liabilities, non-current		22,193			25,391
Operating lease liabilities	Other long-term liabilities		3,354			853
Total lease liabilities		$	39,751		$	39,762

Components of Lease Expense

During the three months ended March 31, 2021, after FibroGen Beijing’s previous long-term lease agreement expired, the Company entered into a new lease agreement with the landlord for the same pilot plant located in Beijing Yizhuang Biomedical Park of BDA. The new lease term is five year, scheduled to expire in 2026, and is treated as an operating lease. Accordingly, the Company recorded $3.4 million in the operating right-of-use assets and total operating lease liabilities, respectively. The lease contract provides for fixed quarterly rent payments, and require the Company to pay operating and maintenance costs.

The components of lease expense were as follows (in thousands):

		Three Months Ended March 31,
	Statement of Operations Line Item	2021			2020
Finance lease cost:
Amortization of right-of-use assets	Cost of goods sold; Research and development; Selling, general and administrative expenses	$	2,616		$	2,594
Interest on lease liabilities	Interest expense		385			515
Operating lease cost	Cost of goods sold; Research and development; Selling, general and administrative expenses		418			309
Sublease income	Selling, general and administrative expenses		(300	)		(292	)
Total lease cost		$	3,119		$	3,126

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases were as follows (in thousands):

	Three Months Ended March 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	475	$	149
Operating cash flows from finance leases		385		517
Financing cash flows from finance leases		3,299		2,814
Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases		322		9
Operating leases	$	3,462	$	—

Schedule of Lease Term and Discount Rate

Lease term and discount rate were as follows:

	March 31, 2021			December 31, 2020
Weighted-average remaining lease term (years):
Finance leases		2.6			2.9
Operating leases		4.0			1.8
Weighted-average discount rate:
Finance leases		4.39	%		4.39	%
Operating leases		4.75	%		4.74	%

Schedule of Maturities of Finance and Operating Leases Liabilities

Maturities of lease liabilities as of March 31, 2021 are as follows (in thousands):

Year Ending December 31,	Finance Leases			Operating Leases
2021 (remaining nine month period)	$	10,237		$	1,425
2022		13,898			1,602
2023		12,535			909
2024		—			768
2025		—			766
Beyond 2025		—			65
Total future lease payments		36,670			5,535
Less: Interest		(1,997	)		(457	)
Present value of lease liabilities	$	34,673		$	5,078