LEASES

12 Months Ended

Dec. 31, 2023

LEASES

The Company enters into leases for real estate and equipment. Real estate leases are for our corporate office space and laboratories around the world. Real estate leases have remaining lease terms of less than 1 year to 17 years.

Many of the Company’s leases include options to extend the leases on a month to month basis or for set periods for up to 20 years. Many leases also include options to terminate the leases within 1 year or per other contractual terms.

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


	Year Ended December 31,
	2023		2022		2021
Operating lease cost	$	27,919	$	25,874	$	23,873
Variable lease cost	$	9,455	$	8,569	$	6,627

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


	Year Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19,829	$	17,002	$	16,266

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	23,960		30,882		33,133

Supplemental balance sheet information related to the leases was as follows at December 31 (in thousands):


	2023			2022
Operating lease right-of-use assets - related parties	$	83,065		$	86,356
Operating lease right-of-use assets - non-related parties	61,736			52,712
Operating lease right-of-use assets	$	144,801		$	139,068

Other current liabilities - related parties	5,730			5,409
Other current liabilities - non-related parties	16,635			13,863
Other current liabilities	$	22,365		$	19,272

Operating lease liabilities - related parties	90,568			93,393
Operating lease liabilities - non-related parties	51,554			45,474
Operating lease liabilities	142,122			138,867
Total operating lease liabilities	$	164,487		$	158,139

Weighted Average Remaining Lease Term (years)
Operating leases	10.0			11.1
Weighted Average Discount Rate
Operating leases	5.6		%	5.2		%

Lease payments due related to lease liabilities as of December 31, 2023 were as follows (in thousands):


	Related Party Operating Leases		Non-Related Parties Operating Leases		Total Operating Leases
2024	$	11,412	$	18,671	$	30,083
2025	11,607		17,008		28,615
2026	11,807		14,199		26,006
2027	10,839		10,974		21,813
2028	8,609		6,124		14,733
Later years	91,669		9,548		101,217
Total lease payments	145,943		76,524		222,467
Less: imputed interest	(49,645)		(8,335)		(57,980)
Total	$	96,298	$	68,189	$	164,487

As of December 31, 2023, we have several additional leases with contractual obligations, which have not yet commenced, with future payments of $2.7 million.