Operating Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Operating Leases

Operating leases

We have operating leases for our office and laboratory facilities with terms that expire from 2021 through 2029. Upon adoption of Topic 842 on January 1, 2019, we recognized $35.2 million of operating lease liabilities and $34.7 million of operating lease right-of-use assets for our existing leases on our condensed consolidated balance sheet. During the six months ended June 30, 2020 and 2019, we recorded $1.5 million and $39.2 million of right-of-use assets in exchange for lease liabilities, respectively. All of our significant leases include options for us to extend the lease term. None of our options to extend the rental term of any existing leases were considered reasonably certain as of June 30, 2020.

Supplemental operating lease information was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
(dollars in thousands)	2020			2019			2020		2019
Operating lease cost	$	3,589		$	3,401		$	7,135	$	6,587
Variable lease cost	1,072			751			1,974		1,429
Total lease cost	$	4,661		$	4,152		$	9,109	$	8,016
Cash paid for amounts included in measurement of lease liabilities	$	3,560		$	2,184		$	6,896	$	4,397
	As of June 30,
	2020			2019
Weighted average remaining lease term	6.7 years			7.4 years
Weighted average discount rate	5.3		%	5.4		%

Operating lease liabilities were recorded in the following captions of our condensed consolidated balance sheet as follows:

(dollars in thousands)	June 30, 2020		December 31, 2019
Accrued liabilities and other	$	10,205	$	9,445
Operating lease liabilities, long-term	63,663		67,607
Total	$	73,868	$	77,052