Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Operating Lease, Lease Income [Table Text Block]

For the year ended December 31, 2019, quantitative information regarding the Company's operating lease obligations reflected in the accompanying consolidated statement of operations were as follows:

	Year Ended December 31, 2019
	(dollars in thousands)
Lease cost
Operating lease cost	$	23,540
Short-term lease cost	253
Variable lease cost	1,017
Sublease income	(953)
Total lease costs	$	23,857

The following table summarizes the supplemental cash flow information and certain other information related to operating leases for the year ended December 31, 2019:

	Year Ended December 31, 2019
	(dollars in thousands)
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	24,743
Weighted average remaining lease term - operating leases (in years)	5.34
Weighted average discount rate - operating leases	4.13		%

Future Minimum Annual Lease and Service Payments

As of December 31, 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)
2020	$	360	$	22,848
2021	206		24,271
2022	73		20,766
2023	—		17,610
2024	—		14,789
Thereafter	—		10,225
Total operating leases	639		110,509
Less discount	24		13,290
Less short-term leases	—		253
Total lease liability	$	615	$	96,966

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

(b)During the twelve months ended December 31, 2019, the Company recognized operating right-of-use assets and leases liabilities of $6.9 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 finance leases. See Note 23 for further information on the finance 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 and $1.1 million for the years ended December 31, 2018 and 2017, respectively.

Other Commitments

As of December 31, 2019, future minimum annual service payments for the Company were as follows:

	Service Payments
	(dollars in thousands)
2020	$	22,217
2021	14,674
2022	9,358
2023	4,095
2024	1,938
Thereafter	4,401
Total service payment commitments	$	56,683

^[1],[2]

Other Commitments

The following table summarizes unfunded commitments as of December 31, 2019:

Entity	Unfunded Commitments		Commitment Term
	(dollars in thousands)
HealthCare Royalty Partners funds (a)	$	7,605	5 years
Eclipse Ventures Fund I, L.P. (formerly Formation8 Partners Hardware Fund I, L.P.)	$	88	5 years
Lagunita Biosciences, LLC	$	500	4 years
Eclipse Fund II, L.P.	$	180	6 years
Eclipse Continuity Fund I, L.P.	$	152	7 years
Cowen Healthcare Investments II LP	$	3,406	2 years
Cowen Healthcare Investments III LP	$	8,602	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.

[1] During the twelve months ended December 31, 2019, the Company recognized operating right-of-use assets and leases liabilities of $6.9 million for equipment leases.

[2] The Company has entered into various agreements to sublease certain of its premises.