Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Assets and Liabilities, Lessee

Operating and financing lease right-of-use assets and lease liabilities as of September 30, 2023 and December 31, 2022 were as follows (in millions):

	September 30,		December 31,
	2023		2022
Assets:
Right-of-use assets, operating, net(1) (2)	$	765	$	121
Right-of-use assets, financing, net(3) (4)	601		1,150
Total	$	1,366	$	1,271
Liabilities:
Current:
Operating lease liabilities(5)	$	33	$	35
Financing lease liabilities(5)	150		161
Total current lease liabilities	183		196
Non-current:
Operating lease liabilities, non-current	697		92
Financing lease liabilities, non-current	575		912
Total non-current lease liabilities	1,272		1,004
Total	$	1,455	$	1,200

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(1)These assets are real estate related assets, which include land, office, and laboratory spaces.

(2)Net of accumulated amortization.

(3)These assets are real estate assets related to the MTC leases as well as assets related to contract manufacturing service agreements.

(4)Included in property and equipment in the condensed consolidated balance sheets, net of accumulated depreciation.

(5)Included in other current liabilities in the condensed consolidated balance sheets.

Schedule of Finance Lease Maturity

Future minimum lease payments under our non-cancelable lease agreements as of September 30, 2023, were as follows (in millions):

Fiscal Year		Operating Leases		Financing Leases(1)
2023	(remainder of the year)	$	6	$	154
2024		102		21
2025		80		22
2026		82		23
2027		84		23
Thereafter		869		1,097
Total minimum lease payments		1,223		1,340
Less amounts representing interest or imputed interest		(493)		(615)
Present value of lease liabilities		$	730	$	725

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(1)Includes certain optional lease term extensions, predominantly related to the MTC leases, which represent a total of $668 million of undiscounted future lease payments.

Schedule of Operating Lease Maturity

Future minimum lease payments under our non-cancelable lease agreements as of September 30, 2023, were as follows (in millions):

Fiscal Year		Operating Leases		Financing Leases(1)
2023	(remainder of the year)	$	6	$	154
2024		102		21
2025		80		22
2026		82		23
2027		84		23
Thereafter		869		1,097
Total minimum lease payments		1,223		1,340
Less amounts representing interest or imputed interest		(493)		(615)
Present value of lease liabilities		$	730	$	725

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(1)Includes certain optional lease term extensions, predominantly related to the MTC leases, which represent a total of $668 million of undiscounted future lease payments.