Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Operating Lease, Lease Income [Table Text Block]

For the three and nine months ended September 30, 2019, quantitative information regarding the Company's operating lease obligations reflected in the accompanying condensed consolidated statement of operations were as follows:



	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
	(dollars in thousands)
Lease Cost
Operating lease cost	$	5,748		$	17,690
Short-term lease cost	23			113
Variable lease cost	388			834
Sublease income	(232		)	(739		)
Total lease costs	$	5,927		$	17,898

The following table summarizes the supplemental cash flow information and certain other information related to operating leases for the nine months ended September 30, 2019:



	Nine Months Ended September 30, 2019
	(dollars in thousands)
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19,103

Weighted average remaining lease term - operating leases (in Years)	5.52
Weighted average discount rate - operating leases	4.14		%

Future Minimum Annual Lease and Service Payments

As of September 30, 2019, maturities of the outstanding operating lease liabilities for the Company were as follows:



	Equipment Leases (operating) (b)		Real Estate and Other Facility Rental (a)
	(dollars in thousands)
2019	$	94	$	4,530
2020	364		24,350
2021	177		24,049
2022	61		20,586
2023	—		17,416
Thereafter	—		25,958
Total Operating Leases	696		116,889
Less discount	114		16,424
Less short term leases	—		113
Total Lease Liability	$	582	$	100,352


(a)	The Company has entered into various agreements to sublease certain of its premises.


(b)	In the third quarter of 2019, the Company recognized operating ROU assets and leases liabilities of $0.1 million for equipment leases.

Prior to the adoption of the new lease accounting guidance, the minimum rental commitments under non-cancelable operating leases at December 31, 2018, were as follows:



	Equipment Leases (a)		Service Payments		Real Estate and other Facility Rental (b)
	(dollars in thousands)
2019	$	2,434	$	21,758	$	24,584
2020	1,492		7,514		22,608
2021	1,382		1,877		22,321
2022	1,123		1,372		19,166
2023	374		735		16,204
Thereafter	—		735		21,478
	$	6,805	$	33,991	$	126,361


(a)	Equipment Leases includes the Company's commitments relating to operating and capital leases. See Note 18 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 $1.4 million, $1.1 million, and $2.2 million for the years ended December 31, 2018, 2017, and 2016 respectively.

Other Commitments

As of September 30, 2019, future minimum annual service payments for the Company were as follows:



	Service Payments
	(dollars in thousands)
2019	$	6,691
2020	15,210
2021	8,483
2022	5,971
2023	3,573
Thereafter	6,331
Total Operating Leases	$	46,259

Other Commitments

The following table summarizes unfunded commitments as of September 30, 2019:



Entity	Unfunded Commitments	Commitment term
	(dollars in thousands)
HealthCare Royalty Partners funds (a)	5,867	2 years
Eclipse Ventures Fund I, L.P. (formerly Formation8 Partners Hardware Fund I, L.P.)	98	5 years
Lagunita Biosciences, LLC	500	4 years
Eclipse Fund II, L.P.	225	6 years
Eclipse Continuity Fund I, L.P.	175	7 years
Cowen Healthcare Investments II LP	6,891	2 years
Cowen Healthcare Investments III LP	10,000	7 years
Cowen Sustainable Investments I LP	25,000	10 years

(a) 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.