Leases (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases as of December 31, 2023 and 2022 was as follows (in thousands, except weighted-average remaining lease term and discount rate):


		December 31,
Lease Assets and Liabilities	Classification	2023		2022
Assets:
ROU assets, operating, net	Right of use asset, net	$	24,985	$	36,384
ROU assets, finance, net	Right of use asset, net	160,233		69,857
Total non-current ROU assets		$	185,218	$	106,241

Liabilities:
Current portion of operating lease liabilities	Other current liabilities	$	22,977	$	16,867
Current portion of finance lease liabilities	Current portion of finance lease liabilities	5,142		27,196
Total current lease liabilities		$	28,119	$	44,063

Non-current portion of operating lease liabilities	Other non-current liabilities	$	28,577	$	50,085
Non-current portion of finance lease liabilities	Non-current finance lease liabilities	55,923		31,238
Total non-current lease liabilities		$	84,500	$	81,323

Weighted-average remaining lease term (years):
Operating leases		3.9		4.6
Finance leases		11.6		8.3

Weighted-average discount rate:
Operating leases		6.0%		6.4%
Finance leases		8.9%		5.4%

Schedule of Operating Lease Expenses

Lease expense for the operating and short-term leases for the years ended December 31, 2023, 2022, and 2021 was as follows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Operating lease expense	$	6,929	$	6,903	$	37,027
Short-term lease expense (benefit(1))	(48,009)		94,726		468,210
Variable lease expense	10,292		6,836		116,435
Finance lease expense:
ROU assets expensed	$	12,876	$	7,759	$	112,528
Interest expense	2,605		1,472		7,241
Total finance lease expense	$	15,481	$	9,231	$	119,769

(1) During the year ended December 31, 2023, the Company recognized a short-term lease benefit of $48.0 million due to gains on the settlement of manufacturing supply agreements with CMOs and CDMOs that included embedded leases.

Schedule of Supplemental Cash Flow Information of Leases

Supplemental cash flow information related to leases for the year ended December 31, 2023, 2022, and 2021 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 used in operating leases	$	101,297	$	190,158	$	203,991
Operating cash flows used in finance leases	2,605		1,472		7,241
Financing cash flows used in finance leases	27,345		93,595		127,907

ROU assets obtained in exchange for operating lease obligations	$	—	$	30,675	$	66,682
ROU assets obtained in exchange for finance lease obligations	103,299		73,240		112,528

Schedule of Maturities of Lease Liabilities

As of December 31, 2023, maturities of lease liabilities were as follows (in thousands):


Year	Amount
2024	$	34,353
2025	17,192
2026	13,616
2027	14,000
2028	14,375
Thereafter	67,296
Total minimum lease payments	160,832
Less: imputed interest	48,213
Total lease liabilities	$	112,619