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Leases
9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Leases

Note 5. Leases

The Company leases its corporate headquarters, which includes approximately 151,000 square feet of executive offices, research and development, and business operations, in Hayward, California. This includes approximately 14,500 square feet of leased space that commenced in April 2022, with related tenant improvement allowances totaling approximately $5.8 million. The Company also leases approximately 109,000 square feet of space in Brisbane, California. Both leases are non-cancelable, extend through 2031 and are subject to options by the Company to extend the lease terms.

In October 2022, the Company entered into an agreement to sublease approximately 31,000 unfinished square feet of its Brisbane office to another company. The lease includes a tenant improvement allowance to be paid by the Company of $9.4 million. The Company will receive sublease income of approximately $3.0 million per year under the terms of the agreement. This non-cancelable sublease is expected to commence in 2023 and extends through 2028, with the sublessee having options to extend the lease term and to lease additional space within the building.

The following table summarizes supplemental cash flow disclosures and non-cash financing activities related to our operating leases (in thousands):

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

Cash paid for amounts included in measurement of lease liabilities

 

$

7,805

 

 

$

3,074

 

Cash received from tenant improvement allowances

 

$

8,381

 

 

$

792

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

3,029

 

 

$

24,473

 

Recognition of tenant improvement allowance receivable included in other current liabilities

 

$

5,791

 

 

$

10,598