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Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Additional Information Related to Operating Leases

The following table contains additional information related to the Company’s operating leases:

 

Location

 

Use

 

Approximate

Square Footage

 

Commencement Dates

 

Expiration Dates

Seattle, WA

 

Office/Laboratory

 

48,000

 

March 2019 to September 2020

 

December 2026 to April 2028

Cambridge, MA

 

Office/Laboratory

 

60,000

 

March 2019 to May 2020

 

November 2025 to February 2028

South San Francisco, CA

 

Office/Laboratory

 

100,000

 

December 2019 to April 2022

 

April 2024 to April 2030

Fremont, CA

 

Industrial

 

163,000

 

July 2021

 

November 2031

Rochester, NY

 

Office/Laboratory

 

3,000

 

January 2022

 

January 2025

Bothell, WA

 

Office/Laboratory/Industrial

 

80,000

 

January 2023

 

December 2038

Summary of Lease Costs

The following table summarizes the Company’s lease costs:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Operating lease cost

 

$

6,066

 

 

$

4,167

 

 

$

11,546

 

 

$

7,065

 

Short-term lease cost

 

 

-

 

 

 

-

 

 

 

-

 

 

 

512

 

Variable lease cost

 

 

1,903

 

 

 

1,642

 

 

 

3,392

 

 

 

2,729

 

Total lease cost

 

$

7,969

 

 

$

5,809

 

 

$

14,938

 

 

$

10,306

 

Reconciliation of Undiscounted Operating Lease Cash Flows by Fiscal Year to Present Value of Operating Lease Liabilities

The following table reconciles the Company’s undiscounted operating lease cash flows by fiscal year, as of June 30, 2022 (in thousands):

 

2022 (remaining 6 months)

 

$

10,855

 

2023

 

 

25,113

 

2024

 

 

24,326

 

2025

 

 

24,302

 

2026

 

 

21,183

 

2027 and thereafter

 

 

55,102

 

Total undiscounted lease payments

 

 

160,881

 

Less: imputed interest

 

 

(44,380

)

Less: tenant improvement allowances

 

 

(2,874

)

Present value of operating lease liabilities

 

 

113,627

 

Less: current portion of operating lease liabilities

 

 

(10,667

)

Operating lease liabilities, net of current portion

 

$

102,960