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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Summary of Total Lease Costs

The Company's total lease costs were as follows (in thousands):

 

 

Year Ended December 31,

 

 

2023

 

2022

 

Finance lease costs:

 

 

 

 

Right-of-use assets with no alternative future use

$

18,871

 

$

63,321

 

Amortization of right-of-use assets

 

102

 

 

102

 

Interest on lease liabilities

 

3,846

 

 

1,720

 

Operating lease costs

 

6,159

 

 

3,832

 

Short-term lease costs

 

32

 

 

758

 

Variable lease costs

 

8,043

 

 

1,769

 

Total lease costs

$

37,053

 

$

71,502

 

Summary of Future Minimum Lease Payments

Future minimum lease payments were as follows (in thousands) as of December 31, 2023:

 

 

Operating Leases

 

Finance Leases

 

2024

$

7,838

 

$

40,368

 

2025

 

8,500

 

 

2026

 

8,751

 

 

2027

 

9,011

 

 

2028

 

9,278

 

 

Thereafter

 

52,110

 

 

Total lease payments

 

95,488

 

 

40,368

 

Less:

 

 

 

 

   Tenant improvement incentive

 

(1,879

)

 

   Imputed interest

 

(35,267

)

 

(1,085

)

Present value of total lease liabilities

$

58,342

 

$

39,283

 

Summary of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows (in thousands) for the year ended December 31, 2023 and 2022:

 

 

2023

 

2022

 

 Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

   Operating cash flows from finance leases

$

8,770

 

$

1,708

 

   Operating cash flows from operating leases

 

4,603

 

 

1,947

 

   Financing cash flows from finance leases

 

29,392

 

 

9,675

 

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

 

18,871

 

 

63,321

 

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

 

(550

)

 

29,562

 

Summary of Weighted-Average Remaining Lease Terms and Discount Rates

Weighted-average remaining lease terms and discount rates were as follows as of December 31, 2023:

 

 Weighted-average remaining lease term — finance leases

1.0 year

 Weighted-average remaining lease term — operating leases

10.4 years

 Weighted-average discount rate — finance leases

9.3%

 Weighted-average discount rate — operating leases

9.7%