Leases (Notes)

12 Months Ended

Dec. 31, 2021

LeasesThe Company is obligated to make future minimum payments under four primary operating leases which approximate 134,000 square feet of space used for manufacturing, research and development and general operations primarily in the greater Seattle area. The operating 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, 2021. The Company’s operating leases contain rent abatement periods, scheduled rent increases and provide for tenant improvement allowances. In addition, the Company enters into finance lease right-of-use assets, included in other assets, and lease liabilities, included in deferred revenues and other liabilities, primarily for equipment used in its operations. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants.

The following table provides the components of the Company’s lease cost (in thousands):


	2021		2020
Operating lease cost	$	5,210	$	5,354
Finance lease cost:
Amortization of right-of-use assets	255		138
Interest on lease liabilities	23		16
Total lease cost	$	5,488	$	5,508

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


	2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,276		$	6,140
Operating cash flows from finance leases	23			16
Financing cash flows from finance leases	236			135

Right-of-use assets obtained in exchange for operating lease liabilities	$	929		$	—
Right-of-use assets obtained in exchange for finance lease liabilities	448			524

Operating Leases
Weighted average remaining lease term (years)	4.9			5.8
Weighted average discount rate	7.0		%	7.1		%

Financing Leases
Weighted average remaining lease term (years)	1.8			2.4
Weighted average discount rate	4.3		%	4.8		%

Future minimum lease payments under the lease agreements as of December 31, 2021 were as follows (in thousands):


	Finance		Operating
2022	$	353	$	6,537
2023	223		6,739
2024	113		6,890
2025	—		7,079
2026	—		2,025
Thereafter	—		2,315
Total future minimum lease payments	689		31,585
Less: imputed interest	(30)		(5,002)
Total	$	659	$	26,583