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)

9 Months Ended

Sep. 30, 2019

During the three and nine months ended September 30, 2019, the Company recorded $0.8 million and $2.4 million, respectively, as lease expense to current period operations.


	Three Months Ended		Nine Months Ended
($ in thousands)	September 30, 2019		September 30, 2019
Lease cost
Operating lease cost	$	798	$	2,397
Shared lease costs		(479)		(1,408)
Variable lease cost		160		575
Total lease cost	$	479	$	1,564

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


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


	Future Lease
($ in thousands)	Liability
Three months ended December 31, 2019	$	776
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
Other		23,463
Total		36,540
Less: present value discount		(10,631)
Operating lease liabilities	$	25,909

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