LEASES |
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Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LEASES | LEASES As of December 31, 2021, the Company has non-cancelable operating leases for its offices and certain office equipment. The Company has the right to renew the term of the Lake Forest lease for one period of five years, provided that written notice is made to the Landlord no later than twelve months prior to the expiration of the initial term of the lease which is on December 31, 2023. In connection with the Zyla Merger, the company assumed an operating lease for offices in Wayne, Pennsylvania, which terminated in February 2022. Prior to the Company’s corporate headquarters relocation in 2018, it had leased its previous corporate office in Newark, California (the Newark lease) which terminates at the end of November 2022 and will not be renewed. The Newark lease is currently partially subleased through the lease term. Operating lease costs and sublease income related to the Newark facility are accounted for in Other gain (loss) in the Consolidated Statements of Comprehensive Income. The following table reflects lease expense for the years ended December 31, 2021 and 2020 (in thousands):
The following table reflects supplemental cash flow information related to leases for the years ended December 31, 2021 and 2020 (in thousands):
The following table reflects supplemental balance sheet information related to leases as of December 31, 2021 and 2020 (in thousands):
Future undiscounted cash flows to be received from subleases is expected to be approximately $0.8 million for the year ended December 31, 2022. The following table reflects other lease information as of December 31, 2021 and 2020:
The following table reflects future minimum lease payments under the Company’s non-cancelable operating leases as of December 31, 2021 (in thousands):
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LEASES | LEASES As of December 31, 2021, the Company has non-cancelable operating leases for its offices and certain office equipment. The Company has the right to renew the term of the Lake Forest lease for one period of five years, provided that written notice is made to the Landlord no later than twelve months prior to the expiration of the initial term of the lease which is on December 31, 2023. In connection with the Zyla Merger, the company assumed an operating lease for offices in Wayne, Pennsylvania, which terminated in February 2022. Prior to the Company’s corporate headquarters relocation in 2018, it had leased its previous corporate office in Newark, California (the Newark lease) which terminates at the end of November 2022 and will not be renewed. The Newark lease is currently partially subleased through the lease term. Operating lease costs and sublease income related to the Newark facility are accounted for in Other gain (loss) in the Consolidated Statements of Comprehensive Income. The following table reflects lease expense for the years ended December 31, 2021 and 2020 (in thousands):
The following table reflects supplemental cash flow information related to leases for the years ended December 31, 2021 and 2020 (in thousands):
The following table reflects supplemental balance sheet information related to leases as of December 31, 2021 and 2020 (in thousands):
Future undiscounted cash flows to be received from subleases is expected to be approximately $0.8 million for the year ended December 31, 2022. The following table reflects other lease information as of December 31, 2021 and 2020:
The following table reflects future minimum lease payments under the Company’s non-cancelable operating leases as of December 31, 2021 (in thousands):
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