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Note 8 — Leases
During the three months ended March 31, 2023, the Company entered into additional lease agreements that have commenced and are classified as operating leases and short-term leases for additional Lucid Test Centers.
The Company’s future lease payments as of March 31, 2023, which are presented as operating lease liabilities, current portion and operating lease liabilities, less current portion on the Company’s unaudited condensed consolidated balance sheets are as follows:
Supplemental disclosure of cash flow information related to the Company’s cash and non-cash activities with its leases are as follows:
As of March 31, 2023 and December 31, 2022, the Company’s right-of-use assets from operating leases were $1,884 and $2,008, respectively, which are reported in operating lease right-of-use assets in the unaudited condensed consolidated balance sheets. As of March 31, 2023 and December 31, 2022, the Company had outstanding operating lease obligations of $1,877 and $1,999, respectively, of which $1,051 and $962, respectively, are reported in operating lease liabilities, current portion and $826 and $1,037, respectively, are reported in operating lease liabilities less current portion in the Company’s unaudited condensed consolidated balance sheets. The Company calculates its incremental borrowing rates for specific lease terms, used to discount future lease payments, as a function of the financing terms the Company would likely receive on the open market.
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