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

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2022

During the three and nine months ended September 30, 2022 and 2021, the Company recorded the following as lease expense to current period operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2022		2021		2022		2021
Operating lease cost	$	940	$	819	$	2,589	$	2,429
Shared lease costs		(542)		(446)		(1,592)		(1,367)
Variable lease cost		198		190		459		547
Total lease expense	$	596	$	563	$	1,456	$	1,609

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


	Nine Months Ended September 30,
($ in thousands)	2022			2021
Operating cash flows from operating leases	$	(2,615)		$	(2,498)
Right-of-use assets exchanged for new operating lease liabilities	$	2,176		$	—
Weighted-average remaining lease term – operating leases (years)		4.9			5.6
Weighted-average discount rate – operating leases		6.5	%		6.3	%


	Future Lease
($ in thousands)	Liability
Three Months Ended December 31, 2022	$	883
Year Ended December 31, 2023		3,270
Year Ended December 31, 2024		3,307
Year Ended December 31, 2025		3,864
Year Ended December 31, 2026		3,879
Other		16,058
Total operating lease liabilities		31,261
Less: present value discount		(7,516)
Net operating lease liabilities, short-term and long-term	$	23,745