Restructuring, Impairment and Other Costs of Terminated Program (Tables)

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring, Impairment and Other Costs of Terminated Program

Restructuring, impairment and other costs of terminated program includes the following (in thousands):

	Three months ended		Six months ended
	June 30, 2022
Clinical trial expense, other third-party and employee costs for the wind down of the bempegaldesleukin program	$	20,408	$	20,408
Severance and benefit expense	27,750		27,750
Impairment of right-of-use assets and property, plant and equipment	57,321		57,321
Contract termination and other restructuring costs	566		2,041
Restructuring, impairment and other costs of terminated program	$	106,045	$	107,520

The following table provides details regarding the severance and other termination benefit expense and a reconciliation of such liability for the three months ended June 30, 2022, which we report within Accrued compensation on our Condensed Consolidated Balance Sheet (in thousands):

	For the three months ended June 30, 2022
	No service period		Service period required		Total
Total severance and other termination benefits, at fair value	$	23,588	$	8,829	$	32,417
Liability balance as of March 31, 2022	$	—	$	—	$	—
Expense recognized during the period	23,588		4,162		27,750
Payments during the period	(12,881)		—		(12,881)
Liability balance as of June 30, 2022	$	10,707	$	4,162	$	14,869

Additionally, we recorded an impairment expense primarily for software which we plan to abandon and certain excess equipment based on the estimated income from selling such assets. We recorded impairment charges as follows (in thousands):

	Three months ended June 30, 2022
	Property, Plant and Equipment		Operating Lease Right-of-Use Assets		Total
Net book value of impaired facilities before write-off	$	16,348	$	70,920	$	87,268
Less: Fair value of impaired facilities — Level 3 of Fair Value Hierarchy	(6,976)		(28,091)		(35,067)
Impairment expense for facilities	9,372		42,829		52,201
Impairment of other property, plant and equipment	5,120		—		5,120
Total impairment of right-of-use assets and property, plant and equipment	$	14,492	$	42,829	$	57,321

Property, Plant and Equipment

The following table presents our property, plant and equipment as of June 30, 2022 and December 31, 2021, reflecting the effects of the impairment charges and held-for-sale reclassification.

	June 30, 2022		December 31, 2021
Building and leasehold improvements	$	83,158	$	97,385
Laboratory equipment	36,738		42,704
Computer equipment and software	28,391		28,829
Manufacturing equipment	23,743		22,374
Furniture, fixtures, and other	7,318		10,094
Depreciable property, plant and equipment at cost	179,348		201,386
Less: accumulated depreciation	(143,304)		(148,039)
Depreciable property, plant and equipment, net	36,044		53,347
Construction-in-progress	3,748		7,163
Property, plant and equipment, net	$	39,792	$	60,510