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Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
The following table presents components of lease expense:
Years Ended December 31,
202320222021
Operating lease cost$8,077 $8,285 $8,015 
Finance lease cost:
Amortization of right-of-use assets1,600 1,318 1,451 
Interest expense345 351 213 
Short-term lease cost (1)604 438 655 
Sublease income(2,284)(195)— 
Total lease cost$8,342 $10,197 $10,334 
_______________________________
(1) Excludes expenses related to leases with a lease term of one month or less.
The following table presents lease-related assets and liabilities recorded on the balance sheet.
As of December 31,
Financial Statement Line Item20232022
Assets:
Operating lease assetsOperating lease right-of-use assets$43,357 $46,713 
Finance lease assetsProperty, plant and equipment, net13,599 12,989 
Total lease assets$56,956 $59,702 
Liabilities:
Current liabilities:
Operating lease liabilitiesCurrent portion of operating lease liabilities$5,735 $5,294 
Finance lease liabilitiesOther current liabilities2,047 2,610 
Non-current liabilities:
Operating lease liabilitiesOperating lease liabilities, net of current portion47,281 51,411 
Finance lease liabilitiesOther non-current liabilities4,488 3,828 
Total lease liabilities$59,551 $63,143 
The following table contains supplemental cash flow information related to leases.
Years Ended December 31,
202320222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases$8,462 $14,214 $13,434 
Operating cash flows used in finance leases345 351 213 
Financing cash flows used in finance leases1,766 3,003 4,836 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)1,028 5,181 — 
Right-of-use assets obtained in exchange for new finance lease liabilities1,619 1,263 2,814 
_______________________________
(1) Includes new leases, renewals, and modifications.
The weighted average remaining lease term and weighted-average discount rate for operating and finance leases were as follows:
As of December 31,
20232022
Weighted-average remaining lease term - operating leases9.2 years10.1 years
Weighted-average remaining lease term - finance leases3.1 years3.1 years
Weighted-average discount rate - operating leases7.7 %7.5 %
Weighted-average discount rate - finance leases5.2 %5.3 %
The maturities of lease liabilities as of December 31, 2023, is as follows:
Operating LeasesFinance Leases
2024$9,524 $2,341 
20258,683 2,225 
20268,524 1,647 
20278,327 868 
20286,782 96 
Thereafter30,697 — 
Total future minimum lease payments72,537 7,177 
Less: imputed interest19,521 642 
Total lease liabilities$53,016 $6,535 
Subleases
We have entered into subleases for certain leased buildings or portions of leased buildings when no longer needed for our current operational needs. The weighted-average remaining lease term of our subleases is 10.9 years. In June 2023, we began subleasing our Taunton and Irvine sites, under subleases that extend through the lease termination dates of the respective head leases. In August 2022, we began subleasing a portion of our leased corporate headquarters office space. The undiscounted cash flows to be received under operating subleases subsequent to December 31, 2023, is as follows:
2024$3,353 
20253,458 
20263,567 
20273,541 
20283,237 
Thereafter22,603 
Leases Leases
The following table presents components of lease expense:
Years Ended December 31,
202320222021
Operating lease cost$8,077 $8,285 $8,015 
Finance lease cost:
Amortization of right-of-use assets1,600 1,318 1,451 
Interest expense345 351 213 
Short-term lease cost (1)604 438 655 
Sublease income(2,284)(195)— 
Total lease cost$8,342 $10,197 $10,334 
_______________________________
(1) Excludes expenses related to leases with a lease term of one month or less.
The following table presents lease-related assets and liabilities recorded on the balance sheet.
As of December 31,
Financial Statement Line Item20232022
Assets:
Operating lease assetsOperating lease right-of-use assets$43,357 $46,713 
Finance lease assetsProperty, plant and equipment, net13,599 12,989 
Total lease assets$56,956 $59,702 
Liabilities:
Current liabilities:
Operating lease liabilitiesCurrent portion of operating lease liabilities$5,735 $5,294 
Finance lease liabilitiesOther current liabilities2,047 2,610 
Non-current liabilities:
Operating lease liabilitiesOperating lease liabilities, net of current portion47,281 51,411 
Finance lease liabilitiesOther non-current liabilities4,488 3,828 
Total lease liabilities$59,551 $63,143 
The following table contains supplemental cash flow information related to leases.
Years Ended December 31,
202320222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases$8,462 $14,214 $13,434 
Operating cash flows used in finance leases345 351 213 
Financing cash flows used in finance leases1,766 3,003 4,836 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)1,028 5,181 — 
Right-of-use assets obtained in exchange for new finance lease liabilities1,619 1,263 2,814 
_______________________________
(1) Includes new leases, renewals, and modifications.
The weighted average remaining lease term and weighted-average discount rate for operating and finance leases were as follows:
As of December 31,
20232022
Weighted-average remaining lease term - operating leases9.2 years10.1 years
Weighted-average remaining lease term - finance leases3.1 years3.1 years
Weighted-average discount rate - operating leases7.7 %7.5 %
Weighted-average discount rate - finance leases5.2 %5.3 %
The maturities of lease liabilities as of December 31, 2023, is as follows:
Operating LeasesFinance Leases
2024$9,524 $2,341 
20258,683 2,225 
20268,524 1,647 
20278,327 868 
20286,782 96 
Thereafter30,697 — 
Total future minimum lease payments72,537 7,177 
Less: imputed interest19,521 642 
Total lease liabilities$53,016 $6,535