Leases

The Company is obligated to make future minimum payments under four operating leases for 134,296 square feet of space used for manufacturing, research and development and general operations primarily in the greater Seattle area. The leases have terms that expire from 2026 to 2030 and include renewal options to extend the lease term at the then current fair market rental for each of the lease agreements. None of the options to extend the rental term of existing leases were considered reasonably certain as of December 31, 2019. The Company’s leases contain rent abatement periods, scheduled rent increases, and provide for tenant improvement allowances. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants.

Operating lease cost totaled approximately $6.0 million for the year ended December 31, 2019. Rent expense totaled approximately $4.9 million and $4.8 million for the years ended December 31, 2018 and 2017, respectively.

Other information related to leases for the year ended December 31 were as follows (in thousands):



	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,579

The lease term and discount rate at December 31 was as follows:



	2019
Weighted average remaining lease term (years)	6.7

Weighted average discount rate	7.1	%

Future minimum lease payments under the lease agreements as of December 31, 2019 were as follows (in thousands):



2020	$	6,180
2021	6,286
2022	6,347
2023	6,506
2024	6,690
Thereafter	10,987
Total future minimum lease payments	42,996
Less: imputed interest	(9,862		)
Total	$	33,134