Company: ARVN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001655759-25-000016
Chunk: 36

Company: ARVINAS, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 16
Chunk 36
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 credit in the amount of $5.5 million. The Company has operating leases for its corporate office, laboratories and certain equipment, which expire no later than December 2029. The leases have a weighted-average remaining term of 4.8 years.

F - 18

The components of lease expense were as follows:Year Ended December 31,(dollars in millions)202420232022Operating lease cost$1.9 $2.1 $2.1 Supplemental cash flow information related to leases was as follows:December 31,(dollars in millions)202420232022Cash paid for amounts included in the measurement of lease liabilities:  Operating cash flows from operating leases$1.9 $2.0 $1.9 Supplemental non-cash information:Right-of-use assets obtained in exchange for new lease obligations$8.5 $— $2.4 Maturities of operating lease liabilities as of December 31, 2024 were as follows:(dollars in millions)2025$2.4 20261.9 20272.0 20282.1 20292.3 Thereafter— Total lease payments10.7 Less: imputed interest(1.6)Total$9.1 

7. Accounts Payable and Accrued Liabilities 

Accounts payable and accrued liabilities consisted of the following: December 31,(dollars in millions)20242023Accounts payable$13.4 $17.8 Accrued liabilitiesEmployee expenses22.4 25.7 Research and development expenses25.9 43.1 Professional fees1.8 2.5 General and administrative and commercial expenses5.1 2.4 Income taxes3.2 0.7 Accounts payable and accrued liabilities$71.8 $92.2 

F - 19

8. Long-Term Debt 

Debt obligations consisted of the following:December 31,(dollars in millions)Maturity DateInterest Rate202420232018 Assistance Agreement Debt09/283.25%$0.8 $1.0 Less: current installments included within Accounts Payable and Accrued Liabilities(0.2)(0.2)Total long-term debt$0.6 $0.8 In June 2018, the Company entered into an Assistance Agreement with the State of Connecticut (the "2018