Company: PACB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001299130-25-000102
Chunk: 187

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 187
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202812,389 202912,761 Thereafter59,897 Total undiscounted operating lease payments100,480 Less: imputed interest(47,583)Present value of operating lease liabilities $52,897 Balance Sheet ClassificationOperating lease liabilities, current$2,417 Operating lease liabilities, non-current50,480 Total operating lease liabilities$52,897 We use our incremental borrowing rate to determine the present value of lease payments, as the implicit rates in our leases are not readily determinable. The weighted-average discount rate used to measure our operating lease liabilities was 10.1%. The weighted-average remaining lease term for our operating leases as of March 31, 2025 was 9.0 years.Cash FlowsCash paid for amounts included in the present value of operating lease liabilities was $2.4 million and $3.0 million for the three months ended March 31, 2025 and 2024, respectively, and were included in operating cash flows.

Q1 Fiscal 2025 Form 10-Q23

Operating Lease CostsOperating lease costs were $2.0 million and $2.6 million for the three months ended March 31, 2025 and 2024, respectively.ContingenciesWe may become involved in legal proceedings, claims and assessments from time to time in the ordinary course of business. We accrue liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.We do not believe that the ultimate outcome of any such pending matters is probable or reasonably estimable, or that these matters will have a material adverse effect on our business; however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on us because of litigation and settlement costs, diversion of management resources, and other factors.Please see subsection titled Legal Proceedings, in Part II, Item 1 of this Quarterly Report on Form 10-Q.IndemnificationPursuant to Delaware law and agreements entered into with each of our directors and officers, we may have obligations, under certain circumstances, to hold harmless and indemnify each of our directors and officers against losses suffered or incurred by the indemnified party in connection with their service to us, and judgements, fines, settlements and expenses related to claims arising against such directors and officers to the fullest extent permitted under Delaware law, our bylaws and our certificate of incorporation. We also enter and have entered into indemnification