XML 51 R41.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]  
Future Minimum Annual Lease and Service Payments
As of September 30, 2018, future minimum annual lease and service payments for the Company were as follows:
 
Equipment Leases (a)
 
Service Payments
 
Facility Leases (b)
 
(dollars in thousands)
2018
$
966

 
$
6,762

 
$
6,453

2019
2,482

 
19,256

 
24,508

2020
1,529

 
5,796

 
20,907

2021
1,392

 
1,722

 
20,640

2022
1,128

 
1,350

 
17,464

Thereafter
374

 
1,470

 
28,353

 
$
7,871

 
$
36,356

 
$
118,325

(a)
Equipment Leases include the Company's commitments relating to operating and capital leases. See Note 17 for further information on the capital lease minimum payments which are included in the table.
(b)
The Company has entered into various agreements to sublease certain of its premises. The Company recorded sublease income related to these leases of $0.4 million and $0.2 million for the three months ended September 30, 2018 and 2017, and $1.1 million and $0.8 million for the nine months ended September 30, 2018 and 2017, respectively.
Other Commitments
The following table summarizes unfunded commitments as of September 30, 2018:
Entity
 
Unfunded Commitments
 
Commitment term
 
 
(dollars in millions)
 
 
Real estate (a)
 
$
4.6

 
(a)
HealthCare Royalty Partners funds (b)
 
1.1

 
2 years
Eclipse Ventures Fund I, L.P. (formerly Formation8 Partners Hardware Fund I, L.P.)
 
0.4

 
6 years
Lagunita Biosciences, LLC
 
1.0

 
3 years
Eclipse Fund II, L.P.
 
0.8

 
7 years
Eclipse Continuity Fund I, L.P.
 
0.6

 
8 years
Cowen Healthcare Investments II LP
 
9.6

 
3 years
(a) The Company had unfunded commitments pertaining to capital commitments in four real estate investments held by the Company, all of which pertain to related party investments. Such commitments can be called at any time between two to four years, subject to advance notice.
(b) The Company is a limited partner of the HealthCare Royalty Partners funds (which are managed by Healthcare Royalty Management) and is a member of HealthCare Royalty Partners General Partners. The Company will make its pro-rata investment in the HealthCare Royalty Partners funds along with the other limited partners.