Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 477

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 9A
Chunk 477
---
 of the premises of approximately 18,000 square feet (the “Second Expansion Space”), 36,000 square feet (the “Initial Expansion Space”) and 19,000 square feet (the “Third Expansion Space”) on June 1, 2022, October 1, 2022 and September 1, 2023, respectively. As a result, it was determined that the lease related to the Second Expansion Space, the Initial Expansion Space and the Third Expansion Space had commenced on those three dates, respectively. The total ROU asset and lease liability associated with the Columbus Lease, inclusive of the Third Expansion Space, the Second Expansion Space and the Initial Expansion Space, was $11.1 million and $19.3 million, respectively, as of December 31, 2024.Lease ObligationsAs of December 31, 2024, ROU assets for operating leases were $148.3 million and operating lease liabilities were $205.7 million. The following table contains a summary of the lease costs recognized and other information pertaining to the Company’s operating leases for the periods indicated:  

        For the Year Ended December 31,

        2024

        2023

        (in thousands)

        Lease cost

        Operating lease cost
         
        $
        35,020

        $
        29,895

        Variable lease cost

        68,624

        38,442

        Total lease cost
         
        $
        103,644

        $
        68,337

        Other information

        Operating lease payments
         
        $
        33,225

        $
        21,608

        Operating lease liabilities arising from obtaining ROU assets
         
        $
        35,361

        $
        80,203

        Weighted-average remaining lease term
         
        11.7 years

        11.2 years

        Weighted-average discount rate

        8.0
        %

        9.1
        %

F-37

 The following table summarizes maturities of lease liabilities and the reconciliation of lease liabilities as of December 31, 2024: 

        For the Year Ended December 31, 2024

        (in thousands)

        2025
         
        $
        31,758

        2026

        31,530

        2027

        31,556