COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2019

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

NOTE 12 – COMMITMENTS AND CONTINGENCIES

As of December 31, 2019, we have known contractual obligations; commitments and contingencies of $97.6 million related to our long term liabilities and operating lease obligations.

			Less than 1						More than
Payment due by period (in thousands)	Total		year		1-3 years		3-5 years		5 years
Contractual obligations
Operating leases	$	20,440	$	2,331	$	3,785	$	3,709	$	10,615
Long-term debt		30,000		—		30,000		—		—
Contract manufacturer		47,168		47,168		—		—		—
Total	$	97,608	$	49,499	$	33,785	$	3,709	$	10,615

Contract Manufacturer

See Note 6 for a detailed description of our current liabilities. Future minimum contractual commitments as of December 31, 2019 total approximately $47.2 million and are due in 2020.

Leases

See Note 8 for a detailed description of our lease arrangements in New York and New Jersey. Total rental expense was approximately $2.7 million, $1.4 million and $1.4 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Future minimum lease commitments as of December 31, 2019, in the aggregate total approximately $20.4 million through December 31, 2031. The preceding table shows future minimum lease commitments, which include our office leases in New York, New Jersey, North Carolina and Tennessee by year as of December 31, 2019.