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Commitments and Contingencies
9 Months Ended
Sep. 30, 2018
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 12—Commitments and Contingencies

In the normal course of business, the Company enters into agreements that include indemnities in favor of third parties, such as engagement letters with advisers and consultants. In certain cases, the Company may have recourse against third parties with respect to these indemnities. The Company maintains insurance policies that may provide coverage against certain claims under these indemnities. The Company has had no claims or payments pursuant to these agreements, and it believes the likelihood of a claim being made is remote. Utilizing the methodology in the Guarantees Topic of the FASB ASC, the Company’s estimate of the value of such guarantees is de minimis, therefore, no accrual has been made in the consolidated financial statements.

The Company leases office space under a non-cancelable operating lease agreement, which expires on December 31, 2025.  The Company recognizes minimum lease expense for its headquarters on a straight-line basis over the lease term.  During the third quarter of 2016, the Company terminated its five-year sublease agreement which commenced on May 1, 2015.  The Company entered into a new four-year sublease agreement commencing on October 1, 2016 that is cancelable by either the Company or sublessee given appropriate notice after the thirty-first month following the commencement of the sublease agreement.  The sublease agreement is for certain office space associated with the Company's operating lease agreement in its corporate headquarters.  Sublease income will continue to decrease annual lease expense by approximately $0.4 million per year.

During the three and nine months ended September 30, 2018, lease expenses were $0.5 million and $1.6 million, respectively, and are included in general and administrative expense.  During the three and nine months ended September 30, 2017, lease expenses were $0.5 million and $1.6 million, respectively.  This lease expense includes expenses associated with the Company's office spaces in the U.K. and Australia.  Lease expenses for the three and nine months ended September 30, 2018 were net of $0.1 million and $0.3 million of sublease income, respectively.  Lease expenses for the three and nine months ended September 30, 2017 were net of $0.1 million and $0.3 million of sublease income, respectively.