LEASES (Tables)

3 Months Ended

Mar. 31, 2023

LEASES

Schedule of balance sheet classification of the Company's right-of-use asset and lease liabilities

The balance sheet classification of the Company’s right-of-use asset and lease liabilities was as follows (in thousands):

	March 31,		December 31,
	2023		2022
Operating lease right-of-use assets	$	70,431	$	73,015
Operating lease liabilities
Current portion included in current liabilities		12,614		12,587
Long-term portion included in non-current liabilities		69,612		71,859
Total operating lease liabilities	$	82,226	$	84,446

Schedule of components of lease expenses

The following table summarizes components of lease expenses, which were included in Total costs and expenses in the Company’s Condensed Consolidated Statements of Operations, and other information related to its operating leases as follows (in thousands except weighted-average remaining lease terms and discount rates):

	Three Months Ended
	March 31,
	2023			2022
Operating lease cost	$	4,524		$	4,555
Variable lease cost		1,694			980
Short-term lease cost		45			42
Total lease cost	$	6,263		$	5,577
Other information
Cash paid for amounts included in the measurement of lease liabilities included in cash flows from operations	$	4,161		$	3,811
Tenant improvement allowance received for amounts included in the measurement of lease liabilities included in cash flows from operations	$	—		$	3,115
Increase in right-of-use assets from lease modifications	$	349		$	7,673
Weighted-average remaining lease terms (years)		12.90			14.13
Weighted-average discount rates		7.5	%		7.2	%

Schedule of minimum lease commitments

As of March 31, 2023, the maturities of the Company’s operating lease liabilities were as follows (in thousands):

			CMO
	Facility		embedded
Year Ending December 31,	leases		leases		Total
Remainder of 2023	$	6,183	$	7,888	$	14,071
2024		8,424		2,181		10,605
2025		8,240		—		8,240
2026		7,989		—		7,989
2027		8,186		—		8,186
Thereafter		83,827		—		83,827
Total lease payments	$	122,849	$	10,069	$	132,918
Less: Present value adjustment		(50,140)		(552)		(50,692)
Operating lease liabilities	$	72,709	$	9,517	$	82,226