
	Real Estate		Other assets		Total
As of January 1, 2026	4.5	—	0.1	—	4.6
New right of use assets	1.9		—		1.9

Depreciation and amortization	(0.8)		(0.1)		(0.8)
Foreign exchange and other movements	(0.1)		—		(0.1)
As of September 30, 2026	5.5		—		5.5

Future minimum lease payments under the Company’s operating leases’ right of use as of September 30, 2026 and December 31, 2025 are as follows:


	September 30, 2026			December 31, 2025
	Real Estate	Other assets	Total	Real Estate	Other assets	Total
Current portion	1.2	—	1.2	1.3	0.1	1.4
Year 2	1.8	—	1.8	1.0	—	1.0
Year 3	1.8	—	1.8	1.0	—	1.0
Thereafter	3.7	—	3.7	4.2	—	4.2
Total minimum lease payments	8.4	—	8.4	7.5	0.1	7.6
Less: Effects of discounting	(1.1)	—	(1.1)	(1.1)	—	(1.1)
Present value of lease liabilities	7.3	—	7.3	6.4	0.1	6.5
Less: current portion	(0.8)	—	(0.8)	(1.0)	(0.1)	(1.1)
Long-term lease liabilities	6.5	—	6.5	5.4	—	5.4
Weighted average remaining lease term (years)	5.67	0.01		6.95	0.19
Weighted average discount rate	5.58%	0.02%		5.02%	0.07%

During the nine months ended September 30, 2026, the Company commenced a new operating lease for office facilities in Warren, New Jersey with an initial lease term of 45 months. Upon commencement, the Company recognized $1.9 million of operating lease liabilities and corresponding right-of-use assets. The lease provides for $0.6 million of landlord incentives, including tenant improvement allowances and rent credits, which reduced the initial carrying amount of the right-of-use asset.

The Company recognizes rent expense, calculated as the remaining cost of the lease allocated over the remaining lease term on a straight-line basis. Rent expense presented in the consolidated statement of operations and comprehensive loss was: