Adaptimmune Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Operating Leases

Operating Leases

12 Months Ended

Dec. 31, 2020

Operating leases

Operating leases

Note 8 — Operating leases

The following table shows the lease costs for the years ended December 31, 2020 and 2019 (in thousands):


	Year ended
	December 31,
	2020		2019
Lease cost:
Operating lease cost	$	4,044	$	4,017
Short-term lease cost		359		319
	$	4,403	$	4,336

	Year ended
	December 31,
	2020		2019
Other information:
Operating cash outflows from operating leases (in thousands)	$	3,769	$	4,063


Weighted-average remaining lease term - operating leases		6.3 years		7.3 years
Weighted-average discount rate - operating leases		7.2%		7.2%

The maturities of operating lease liabilities as of December 31, 2020 are as follows (in thousands):




	Operating leases

2021	$	4,326
2022		4,371
2023		4,127
2024		4,011
2025		4,059
after 2025		9,114
Total lease payments		30,008
Less: Imputed interest		6,297
Present value of lease liability	$	23,711

The Company has operating leases in relation to property for office and research facilities. The maximum lease term without activation of termination options is to 2041.