Quarterly report pursuant to Section 13 or 15(d)

Lease Obligations

v2.4.0.6
Lease Obligations
6 Months Ended
Jun. 30, 2012
Lease Obligations [Abstract]  
Lease obligations

5. Lease obligations

The Company leases office and laboratory facilities in California, Kansas, and New Jersey. These leases expire between 2014 and 2019 and are subject to annual increases which range from 3.0% and 3.5%. The Company currently subleases office and laboratory space in California and New Jersey. The following table provides a summary of operating lease obligations and payments expected to be received from sublease agreements as of June 30, 2012 (in thousands):

 

                                                         
Operating lease obligations:   Square
Footage
    Lease
Termination
Date
    Less than 1
year
    1-3 years     3-5 years     More than
5 years
    Total  

Corporate headquarters-San Deigo, CA

    16,500       July 2019     $ 550     $ 1,151     $ 1,220     $ 962     $ 3,883  

Bioscience and Technology Business Center-Lawrence, KS

 

 

1,500

  

 

 

December 2014

  

 

 

57

  

 

 

85

  

                 

 

142

  

Vacated office and research facility-San Diego, CA

 

 

52,800

  

 

 

July 2015

  

 

 

2,143

  

 

 

4,481

  

 

 

191

  

 

 

—  

  

 

 

6,815

  

Vacated office and research facility-Cranbury, NJ

    99,000       August 2016       2,715       5,432       3,169       —         11,316  
                   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating lease obligations

                  $ 5,465     $ 11,149     $ 4,580     $ 962     $ 22,156  
               
Sublease payments expected to be received:               Less than  1
year
    1-3 years     3-5 years     More than
5 years
    Total  

Office and research facility-San Diego, CA

    52,800       July 2015     $ 892     $ 1,866                     $ 2,758  

Office and research facility-Cranbury, NJ

    5,100       August 2016       252       746       373               1,371  
                   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net operating lease obligations

                  $ 4,321     $ 8,537     $ 4,207     $ 962     $ 18,027