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

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

6 Months Ended

Jun. 30, 2019

During the three and six months ended June 30, 2019, the Company recorded $0.8 million and $1.6 million, respectively, as lease expense to current period operations.


	Three Months Ended		Six Months Ended
($ in thousands)	June 30, 2019		June 30, 2019
Lease cost
Operating lease cost	$	803	$	1,599
Shared lease costs		(452)		(929)
Variable lease cost		337		415
Total lease cost	$	688	$	1,085

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


	Six Months Ended
($ in thousands)	June 30, 2019
Operating cash flows from operating leases	$	(1,540)
Weighted-average remaining lease term – operating leases		6.5
Weighted-average discount rate – operating leases		6.2	%


	Future Lease
($ in thousands)	Liability
Six months ended December 31, 2019	$	1,098
Year Ended December 31, 2020		3,351
Year Ended December 31, 2021		3,114
Year Ended December 31, 2022		3,084
Year Ended December 31, 2023		3,137
Other		23,463
Total		37,247
Less: present value discount		(11,111)
Operating lease liabilities	$	26,136

Schedule of total future minimum lease payments

At December 31, 2018, the total future minimum lease payments under all leases were:


($ in thousands)
2019	$	3,070
2020		3,289
2021		3,084
2022		3,084
2023		3,137
Beyond		23,466
Total minimum lease payments	$	39,130