Leases (Tables)

9 Months Ended

Sep. 30, 2021

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

	Balance Sheet Line Item	September 30, 2021			December 31, 2020
Assets
Finance:
Right-of-use assets cost		$	2,033		$	50,477
Accumulated amortization			(1,262	)		(20,871	)
Finance lease right-of-use assets, net	Finance lease right-of-use assets		771			29,606
Operating:
Right-of-use assets cost			100,710			3,934
Accumulated amortization			(6,655	)		(1,891	)
Operating lease right-of-use assets, net	Operating lease right-of-use assets		94,055			2,043
Total lease assets		$	94,826		$	31,649

Liabilities
Current:
Finance lease liabilities	Finance lease liabilities, current	$	15		$	12,330
Operating lease liabilities	Operating lease liabilities, current		10,831			1,188
Non-current:
Finance lease liabilities	Finance lease liabilities, non-current		5			25,391
Operating lease liabilities	Operating lease liabilities, non-current		91,478			853
Total lease liabilities		$	102,329		$	39,762

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

		Three Months Ended September 30,						Nine Months Ended September 30,
	Statement of Operations Line Item	2021			2020			2021			2020
Finance lease cost:
Amortization of right-of-use assets	Cost of goods sold; Research and development; Selling, general and administrative expenses	$	116		$	2,639		$	4,509		$	7,886
Interest on lease liabilities	Interest expense		—			462			627			1,511
Operating lease cost	Cost of goods sold; Research and development; Selling, general and administrative expenses		4,273			304			6,435			868
Sublease income	Selling, general and administrative expenses		(263	)		(301	)		(838	)		(899	)
Total lease cost		$	4,126		$	3,104		$	10,733		$	9,366

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

	Nine Months Ended September 30,
	2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,090		$	812
Operating cash flows from finance leases		628			1,468
Financing cash flows from finance leases		5,359			9,254
Non-cash: Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases		330			434
Operating leases		3,509			55
Non-cash: Increase (decrease) resulting from lease modification:
Finance lease right-of-use assets		(24,654	)		—
Operating lease right-of-use assets		93,222			—
Finance lease liabilities, current		(12,587	)		—
Operating lease liabilities, current		9,221			—
Finance lease liabilities, non-current		(20,009	)		—
Operating lease liabilities, non-current	$	91,943		$	—

Lease term and discount rate were as follows:

	September 30, 2021			December 31, 2020
Weighted-average remaining lease term (years):
Finance leases		1.2			2.9
Operating leases		7.0			1.8
Weighted-average discount rate:
Finance leases		4.58	%		4.39	%
Operating leases		4.75	%		4.74	%

Maturities of lease liabilities as of September 30, 2021 are as follows (in thousands):

Year Ending December 31,	Finance Leases			Operating Leases
2021 (remaining three month period)	$	6		$	3,697
2022		12			15,517
2023		3			13,454
2024		—			16,797
2025		—			18,192
Beyond 2025		—			53,881
Total future lease payments		21			121,538
Less: Interest		(1	)		(19,229	)
Present value of lease liabilities	$	20		$	102,309