Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.20.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies  
Schedule of lease expense

During the year ended December 31, 2019, the Company recorded $3.2 million as lease expense to current period operations.

 

 

 

 

 

 

    

Year Ended

 

 

December 31, 

($ in thousands)

 

2019

Lease cost

 

 

  

Operating lease cost

 

$

3,199

Shared lease costs

 

 

(1,876)

Variable lease cost

 

 

801

Total lease cost

 

$

2,124

 

The following tables summarize quantitative information about the Company’s operating leases, under the adoption of Topic 842:

 

 

 

 

 

 

 

    

Year Ended

 

 

 

December 31, 

 

($ in thousands)

 

2019

 

Operating cash flows from operating leases

 

$

(3,001)

 

Weighted-average remaining lease term – operating leases

 

 

6.3

 

Weighted-average discount rate – operating leases

 

 

6.2

%

 

 

 

 

 

 

    

Future Lease 

($ in thousands)

 

Liability

Year Ended December 31, 2020

 

$

2,966

Year Ended December 31, 2021

 

 

3,114

Year Ended December 31, 2022

 

 

3,084

Year Ended December 31, 2023

 

 

3,137

Year Ended December 31, 2024

 

 

3,190

Other

 

 

20,273

Total

 

 

35,764

Less: present value discount

 

 

(10,268)

Operating lease liabilities

 

$

25,496