Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Operating Lease, Lease Income [Table Text Block]

For the three and nine months ended September 30, 2020 and 2019, quantitative information regarding the Company's operating lease obligations reflected in the accompanying condensed consolidated statements of operations were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(dollars in thousands)
Lease cost
Operating lease cost	$	5,687	$	5,748	$	17,044	$	17,690
Short-term lease cost	52		23		155		113
Variable lease cost	829		1,156		2,431		2,668
Sublease income	(190)		(232)		(623)		(739)
Total lease costs	$	6,378	$	6,695	$	19,007	$	19,732

The following table summarizes the supplemental cash flow information and certain other information related to operating leases for the nine months ended September 30, 2020 and 2019:

	Nine Months Ended September 30,
	2020			2019
	(dollars in thousands)
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	20,228		$	19,103
Weighted average remaining lease term - operating leases (in years)	4.78			5.52
Weighted average discount rate - operating leases	3.69		%	4.14		%

Future Minimum Annual Lease and Service Payments

As of September 30, 2020, maturities of the outstanding operating lease liabilities for the Company were as follows:

	Equipment Leases (operating)		Real Estate and Other Facility Rental (a) (b)
	(dollars in thousands)
2020	$	90	$	4,302
2021	223		24,723
2022	91		21,484
2023	3		18,095
2024	—		14,784
Thereafter	—		10,166
Total operating leases	407		93,554
Less discount	25		9,816
Less short-term leases	—		76
Total lease liability	$	382	$	83,662

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

(b)During the nine months ended September 30, 2020, the Company recognized $0.3 operating right-of-use assets and leases liabilities increases for facility leases.

As of September 30, 2020, future minimum annual service payments for the Company were as follows:

	Service Payments
	(dollars in thousands)
2020	$	8,262
2021	23,563
2022	14,295
2023	7,188
2024	4,351
Thereafter	13,201
Total service payment commitments	$	70,860

Other Commitments

The following table summarizes unfunded commitments as of September 30, 2020:

Entity	Unfunded Commitments		Commitment Term
	(dollars in thousands)
HealthCare Royalty Partners funds (a)	$	7,816	4.3 years
Eclipse Ventures Fund I, L.P.	$	59	4.3 years
Lagunita Biosciences, LLC	$	250	3.1 years
Eclipse Fund II, L.P.	$	110	5.3 years
Eclipse Continuity Fund I, L.P.	$	58	6.3 years
Cowen Healthcare Investments II LP	$	1,201	1.3 years
Cowen Healthcare Investments III LP	$	6,164	6.3 years
Cowen Sustainable Investments I LP	$	3,926	9.3 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.