Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

During the three and nine months ended September 30, 2020 and 2019, the Company recorded the following as lease expense, which was recorded in general and administrative expense on the Company's Condensed Consolidated Statement of Operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
($in thousands)	2020		2019		2020		2019
Lease Cost
Operating lease cost	$	816	$	798	$	2,436	$	2,397
Shared lease costs		(469)		(479)		(1,409)		(1,408)
Variable lease cost		178		160		411		575
Total lease expense	$	525	$	479	$	1,438	$	1,564

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


	Nine Months Ended September 30,
($in thousands)	2020			2019
Operating cash flows from operating leases	$	(2,127)		$	(2,185)
Weighted-average remaining lease term – operating leases (years)		5.9			6.4
Weighted-average discount rate – operating leases		6.2	%		6.2	%

Schedule of Future Minimum Rental Payments for Operating Leases


	Future Lease
($ in thousands)	Liability
Three Months Ended December 31, 2020	$	839
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 operating lease liabilities		33,637
Less: present value discount		(9,085)
Net operating lease liabilities, short-term and long-term	$	24,552