Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.2
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2020
Commitments and Contingencies  
Schedule of lease expense

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