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Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Commitments and Contingencies FDA Warning Letter On December 29 , 2015 , the FDA issued a Warning Letter alleging certain violations of FDA regulations applicable to medical device manufacturers at our Munich , Germany and Arvada , Colorado facilities . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The FDA inspected the Munich facility from August 24 , 2015 to August 27 , 2015 and the Arvada facility from August 24 , 2015 to September 1 , 2015 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On August 27 , 2015 , the FDA issued a Form 483 identifying two observed non - conformities with certain regulatory requirements at the Munich facility . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | We did not receive a Form 483 in connection with the FDA ’ s inspection of the Arvada facility . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Following the receipt of the Form 483 , we provided written responses to the FDA describing corrective and preventive actions that were underway or to be taken to address the FDA ’ s observations at the Munich facility . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The Warning Letter responded in part to our responses and identified other alleged violations related to the manufacture of our 3 T Heater - Cooler device that were not previously included in the Form 483 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The Warning Letter did not request that existing users cease using the 3 T device , and manufacturing and shipment of all of our products other than the 3 T device were unaffected by the import limitation . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | To help clarify these issues for current customers , we issued an informational Customer Letter in January 2016 and that same month agreed with the FDA on a process for shipping 3 T devices to existing U.S. users pursuant to a certificate of medical necessity program . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On February 25 , 2020 , Liva Nova received clearance for K191402 , a 510 ( k ) for the 3 T devices that addressed issues contained in the 2015 Warning Letter along with design changes that further mitigate the potential risk of aerosolization . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Concurrent with this clearance , ( 1 ) 3 T devices manufactured in accordance with K191402 will not be subjected to the import alert and ( 2 ) Liva Nova initiated a correction to distribute the updated Operating Instructions cleared under K191402 . We continue to work diligently to remediate the FDA ’ s inspectional observations for the Munich facility , as well as the additional issues identified in the Warning Letter . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 19 CDC and FDA Safety Communications and Company Field Safety Notice On October 13 , 2016 , the CDC and the FDA separately released safety notifications regarding the 3 T devices . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Citing the geographic separation between the two hospitals referenced in the investigation , the report asserts that 3 T devices manufactured prior to August 18 , 2014 could have been contaminated during the manufacturing process . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Also on October 13 , 2016 , concurrent with the CDC ’ s HAN and FDA ’ s Safety Communication , we issued a Field Safety Notice Update for U.S. users of 3 T devices to proactively and voluntarily contact facilities to aid in implementation of the CDC and FDA recommendations . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | In the fourth quarter of 2016 , we initiated a program to provide existing 3 T device users with a new loaner 3 T device at no charge pending regulatory approval and implementation of additional risk mitigation strategies worldwide , including a vacuum canister and internal sealing upgrade program and a deep disinfection service . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On October 11 , 2018 , after review of information provided by us , the FDA concluded that we could commence the vacuum and sealing upgrade program in the U.S. , and on February 25 , 2020 , Liva Nova received clearance for K191402 , a 510 ( k ) for the 3 T devices that addressed issues contained in the 2015 Warning Letter along with design changes that further mitigate the potential risk of aerosolization . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The deep disinfection service was rolled out in Europe in the second half of 2015 , and on April 12 , 2018 , the FDA agreed to allow us to move forward with the deep cleaning service in the U.S. thereby adding to the growing list of countries around the world in which we offer this service . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On December 31 , 2016 , we recognized a liability for our product remediation plan related to our 3 T device . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | We concluded that it was probable that a liability had been incurred upon management ’ s approval of the plan and the commitments made by management to various regulatory authorities globally in November and December 2016 , and furthermore , the cost associated with the plan was reasonably estimable . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | At March 31 , 2020 , the product remediation liability was $ 1.6 million . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The class action , filed in February 2016 , consists of all Pennsylvania residents who underwent open heart surgery at Well Span York Hospital and Penn State Milton S. Hershey Medical Center between 2011 and 2015 and who currently are asymptomatic for NTM infection . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On March 29 , 2019 , we announced a settlement framework that provides for a comprehensive resolution of the personal injury cases pending in the multi - district litigation in U.S. federal court , the related class action pending in federal court , as well as certain cases in state courts across the United States . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | As of April 29 , 2020 , including the cases encompassed in the settlement framework described above that have not yet been dismissed , we are aware of approximately 90 filed and unfiled claims worldwide , with the majority of the claims in various federal or state courts 20 throughout the United States . | {'LossContingencyPendingClaimsNumber': ['90']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | At March 31 , 2020 , the provision for these matters was $ 54.6 million . | {'LossContingencyAccrualAtCarryingValue': ['54.6']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The changes in the litigation provision liability during the three months ended March 31 , 2020 are as follows ( in thousands ) : Environmental Liability Our subsidiary , Sorin S . p . A. ( “ Sorin ” ) was created as a result of a spin - off ( the “ Sorin spin - off ” ) from SNIA S . p . A. ( “ SNIA ” ) in January 2004 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | SNIA subsequently became insolvent and the Italian Ministry of the Environment and the Protection of Land and Sea ( the “ Italian Ministry of the Environment ” ) , sought compensation from SNIA in an aggregate amount of approximately $ 4 billion for remediation costs relating to the environmental damage at chemical sites previously operated by SNIA ’ s other subsidiaries . In September 2011 and July 2014 , the Bankruptcy Court of Udine and the Bankruptcy Court of Milan held ( in proceedings to which we are not parties ) that the Italian Ministry of the Environment and other Italian government agencies ( the “ Public Administrations ” ) were not creditors of either SNIA or its subsidiaries in connection with their claims in the Italian insolvency proceedings . | {'LossContingencyDamagesSoughtValue': ['4']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The Public Administrations appealed and in January 2016 , the Court of Udine rejected the appeal . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | In addition , the Bankruptcy Court of Milan ’ s decision has been appealed . In January 2012 , SNIA filed a civil action against Sorin in the Civil Court of Milan asserting joint liability of a parent and a spun - off company . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On April 1 , 2016 , the Court of Milan dismissed all legal actions of SNIA and of the Public Administrations further requiring the Public Administrations to pay Sorin approximately € 292,000 ( approximately $ 319,915 as of March 31 , 2020 ) for legal fees . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The Public Administrations appealed the 2016 Decision to the Court of Appeal of Milan . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On March 5 , 2019 , the Court of Appeal issued a partial decision on the merits declaring Sorin / Liva Nova jointly liable with SNIA for SNIA ’ s environmental liabilities in an amount up to the fair value of the net worth received by Sorin because of the Sorin spin - off , an estimated € 572.1 million ( approximately $ 626.8 million as of March 31 , 2020 ) . | {'LossContingencyEstimateOfPossibleLoss': ['572.1', '626.8']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Additionally the Court issued a separate order , staying the proceeding until a Panel of three experts can assess the environmental damages , the costs of clean - up , and the costs that the Public Administrations has already borne for the clean - up of the sites to allow the Court to decide on the second claim of the Public Administration against Liva Nova , ( i.e. , to refund the Public Administrations for the SNIA environmental liabilities ) . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | In addition , we can not reasonably estimate a range of potential loss , if any , that may result from this matter . Patent Litigation On May 11 , 2018 , Neuro and Cardiac Technologies LLC ( “ NCT ” ) , a non - practicing entity , filed a complaint in the United States District Court for the Southern District of Texas asserting that the VNS Therapy System , when used with the Sen Tiva Model 1000 generator , infringes the claims of U.S. Patent No . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 7,076,307 owned by NCT . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On September 13 , 2018 , we petitioned the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office ( the “ Patent Office ” ) for an inter partes review ( “ IPR ” ) of the validity of the ‘ 307 patent . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | We have not recognized an expense in connection with this matter because any potential loss is not 21 currently probable or reasonably estimable . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Contract Litigation On November 25 , 2019 , Liva Nova received notice of a lawsuit initiated by former members of Caisson Interventional , LLC ( “ Caisson ” ) , a subsidiary of the Company acquired in 2017 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The complaint alleges ( i ) breach of contract , ( ii ) breach of the covenant of good faith and fair dealing and ( iii ) unjust enrichment in connection with the Company ’ s operation of Caisson ’ s Transcatheter Mitral Valve Replacement ( “ TMVR ” ) program and the Company ’ s November 20 , 2019 announcement that it was ending the TMVR program at the end of 2019 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The lawsuit seeks damages arising out of the 2017 acquisition agreement , including various regulatory milestone payments . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | In addition , we can not reasonably estimate a range of potential loss , if any , that may result from this matter . Tax Litigation In a tax audit report received on October 30 , 2009 , the Regional Internal Revenue Office of Lombardy ( the “ Internal Revenue Office ” ) informed Sorin Group Italia S.r.l . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | that , among several issues , it was disallowing in part ( for a total of € 102.6 million ( approximately $ 112.4 million as of March 31 , 2020 ) , related to tax years 2002 through 2006 ) a tax - deductible write down of the investment in the U.S. company , Cobe Cardiovascular Inc. , which Sorin Group Italia S.r.l . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | recognized in 2002 and deducted in five equal installments , beginning in 2002 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | In December 2009 , the Internal Revenue Office issued notices of assessment for 2004 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | In December 2010 and October 2011 , the Internal Revenue Office issued notices of assessment for 2005 and 2006 , respectively . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | We challenged all three notices of assessment ( for 2004 , 2005 and 2006 ) before the relevant Provincial Tax Courts . The preliminary challenges filed for 2004 , 2005 and 2006 were denied at the first jurisdictional level . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The appeal submitted against the first - level decision for 2004 was successful . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The Internal Revenue Office appealed this second - level decision to the Italian Supreme Court ( Corte di Cassazione ) on February 3 , 2017 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The Italian Supreme Court ’ s decision is pending . The appeals submitted against the first - level decisions for 2005 and 2006 were rejected . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On November 16 , 2018 , the Supreme Court returned the decisions for years 2005 and 2006 to the previous - level Court ( Regional Tax Court ) due to lack of substance of the motivation given in the 2nd level judgments that were appealed . In November 2012 , the Internal Revenue Office served a notice of assessment for 2007 , and in July 2013 , served a notice of assessment for 2008 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | In these matters the Internal Revenue Office claims an increase in taxable income due to a reduction ( similar to the previous notices of assessment for 2004 , 2005 and 2006 ) of the losses reported by Sorin Group Italia S.r.l . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | for the 2002 , 2003 and 2004 tax periods , and subsequently utilized in 2007 and 2008 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The Provincial Tax Court of Milan has stayed its decision for years 2007 and 2008 pending resolution of the litigation regarding years 2004 , 2005 , and 2006 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The total amount of losses in dispute is € 62.6 million ( approximately $ 68.6 million as of March 31 , 2020 ) . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On May 31 , 2019 , we filed an application to settle the litigation according to law N. 136/2018 and paid the required settlement balance of € 1.9 million . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | As per law N. 136/2018 , the Italian Revenue Agency will review the settlement and decide to accept or reject the application by July 31 , 2020 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 22 Note 11 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Stockholders ’ Equity The tables below present the condensed consolidated statement of stockholders ’ equity as of and for the three months ended March 31 , 2020 and 2019 ( in thousands ) : ( 1 ) Refer to “ Note 17 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | New Accounting Pronouncements ” 23 The table below presents the change in each component of AOCI , net of tax , and the reclassifications out of AOCI into net income for the three months ended March 31 , 2020 and 2019 ( in thousands ) : ( 1 ) Taxes are not provided for foreign currency translation adjustments as translation adjustments are related to earnings that are intended to be reinvested in the countries where earned . Note 12 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Stock - Based Incentive Plans Stock - based incentive plans compensation expense is as follows ( in thousands ) : During the three months ended March 31 , 2020 , we issued stock - based compensatory awards with terms approved by the Compensation Committee of our Board of Directors . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The awards with service conditions generally vest ratably over four years , subject to forfeiture unless service conditions are met . | {'ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1': ['four years']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Market performance - based awards cliff vest after three years subject to the rank of our total shareholder return for the three - year period ending December 31 , 2022 relative to the total shareholder returns for a peer group of companies . | {'ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1': ['three years']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Operating performance - based awards cliff vest after three years subject to the achievement of certain thresholds of cumulative adjusted free cash flow for the three year period ending December 31 , 2022 . | {'ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1': ['three years']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 24 Stock - based compensation agreements issued during the three months ended March 31 , 2020 , representing potential shares and their weighted average grant date fair values by type follows ( shares in thousands , fair value in dollars ) : Note 13 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Income Taxes Our effective income tax rate from continuing operations for the three months ended March 31 , 2020 was 744.4 % compared with 30.8 % for the three months ended March 31 , 2019 . | {'EffectiveIncomeTaxRateContinuingOperations': ['744.4', '30.8']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Tax benefits totaling $ 12.6 million and $ 12.9 million were unrecognized as of March 31 , 2020 and December 31 , 2019 , respectively . | {'UnrecognizedTaxBenefits': ['12.6', '12.9']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | On March 27 , 2020 , the U.S. enacted the CARES Act which provided for a 5 - year loss carryback for losses incurred in 2018 - 2020 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Further regulations and notices as well as state legislative changes addressing conformity to the CARES Act are still pending . Note 14 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Earnings Per Share Reconciliation of the shares used in the basic and diluted earnings per share computations for the three months ended March 31 , 2020 and 2019 are as follows ( in thousands ) : ( 1 ) Excluded from the computation of diluted earnings per share were stock options , SARs and restricted share units totaling 1.5 million and 3.3 million for the three months ended March 31 , 2020 and 2019 , respectively , because to include them would have been anti - dilutive under the treasury stock method . Note 15 . | {'AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount': ['1.5', '3.3']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | We have two reportable segments : Cardiovascular and Neuromodulation . The Cardiovascular segment generates its revenue from the development , production and sale of cardiopulmonary products , heart valves and related products and advanced circulatory support . | {'NumberOfReportableSegments': ['two']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Heart valves include 25 mechanical heart valves , tissue heart valves , related repair products and minimally invasive surgical instruments . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 26 We operate under three geographic regions : U.S. , Europe , and Rest of World . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | ( 2 ) No single customer represented over 10 % of our consolidated net sales . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | No country ’ s net sales exceeded 10 % of our consolidated sales except for the U.S. 27 The table below presents a reconciliation of segment income ( loss ) from continuing operations to consolidated loss from continuing operations before tax ( in thousands ) : Assets by segment are as follows ( in thousands ) : Capital expenditures by segment are as follows ( in thousands ) : The changes in the carrying amount of goodwill by segment for the three months ended March 31 , 2020 were as follows ( in thousands ) : Property , plant and equipment , net by geography are as follows ( in thousands ) : 28 Note 16 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Fair Value Measurements ” ( 2 ) Refer to “ Note 4 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Restructuring ” ( 3 ) Refer to “ Note 5 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Product Remediation Liability ” ( 4 ) Refer to “ Note 9 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Derivatives and Risk Management ” As of March 31 , 2020 and December 31 , 2019 , contract liabilities of $ 9.1 million and $ 8.6 million , respectively , are included within accrued liabilities and other long - term liabilities on the condensed consolidated balance sheets . | {'ContractWithCustomerLiability': ['9.1', '8.6']} |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 29 Note 17 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | New Accounting Pronouncements Adoption of New Accounting Pronouncements The following table provides a description of our adoption of new Accounting Standards Updates ( “ ASUs ” ) issued by the FASB and the impact of the adoption on our condensed financial statements : Future Adoption of New Accounting Pronouncements The following table provides a description of future adoptions of new accounting standards that may have an impact on our financial statements when adopted : 30 Item 2 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | ITEM 1 of this Report , and the consolidated financial statements and notes thereto contained in Part IV , Item 15 of our 2019 Annual Report . Cautionary Notice Regarding Forward - Looking Statements Certain statements contained in or incorporated by reference into this Report , including , without limitation , those related to our future operations and those related to our expectations concerning the effects of the COVID-19 pandemic on our future operations and balance sheet , constitute " forward - looking statements " within the meaning of Section 27A of the Securities Act of 1933 , as amended , and Section 21E of the Securities Exchange Act of 1934 , as amended . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Some of the risks , uncertainties and other important factors that may affect future results include , among others : • The impact of the COVID-19 pandemic on our business , our tenants and the economy in general , including the measures taken by governmental authorities to address it ; • Changes in general economic and business conditions , including the financial condition of our tenants and the value of our real estate assets ; • The General Partner 's continued qualification as a REIT for U.S. federal income tax purposes ; • Heightened competition for tenants and potential decreases in property occupancy ; • Potential changes in the financial markets and interest rates ; • Volatility in the General Partner 's stock price and trading volume ; • Our continuing ability to raise funds on favorable terms , or at all ; • Our ability to successfully identify , acquire , develop and/or manage properties on terms that are favorable to us ; • Potential increases in real estate construction costs including construction cost increases as the result of trade disputes and tariffs on goods imported in the United States ; • Our real estate asset concentration in the industrial sector and potential volatility in this sector ; • Our ability to successfully dispose of properties on terms that are favorable to us ; • Our ability to successfully integrate our acquired properties ; • Our ability to retain our current credit ratings ; • Inherent risks related to disruption of information technology networks and related systems and cyber security attacks ; • Inherent risks in the real estate business , including , but not limited to , tenant defaults , potential liability relating to environmental matters and liquidity of real estate investments ; and • Other risks and uncertainties described herein , as well as those risks and uncertainties discussed from time to time in our other reports and other public filings with the Securities and Exchange Commission ( the " SEC " ) . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 22 Although we presently believe that the plans , expectations and anticipated results expressed in or suggested by the forward - looking statements contained in or incorporated by reference into this Report are reasonable , all forward - looking statements are inherently subjective , uncertain and subject to change , as they involve substantial risks and uncertainties , including those beyond our control . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Additional information regarding risk factors that may affect us is included in our 2019 Annual Report and in Part II , Item 1A , " Risk Factors " in this Report . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The risk factors contained in our 2019 Annual Report are updated by us from time to time in Quarterly Reports on Form 10-Q , Current Reports on Form 8-K and other filings that we make with the SEC . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Business Overview The General Partner and Partnership collectively specialize in the ownership , management and development of industrial real estate . The General Partner is a self - administered and self - managed REIT that began operations in 1986 and is the sole general partner of the Partnership . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The Partnership is a limited partnership formed in 1993 , at which time all of the properties and related assets and liabilities of the General Partner , as well as proceeds from a secondary offering of the General Partner 's common shares , were contributed to the Partnership . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Simultaneously , the Partnership completed the acquisition of Duke Associates , a full - service commercial real estate firm operating in the Midwest whose operations began in 1972 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | We operate the General Partner and the Partnership as one enterprise , and therefore , our discussion and analysis refers to the General Partner and its consolidated subsidiaries , including the Partnership , collectively . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | A more complete description of our business , and of management 's philosophy and priorities , is included in our 2019 Annual Report . At March 31 , 2020 , we : • Owned or jointly controlled 521 primarily industrial properties , of which 500 properties with 146.4 million square feet were in service and 21 properties with 9.7 million square feet were under development . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The 500 in - service properties were comprised of 461 consolidated properties with 135.3 million square feet and 39 unconsolidated joint venture properties with 11.1 million square feet . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The 21 properties under development consisted of 20 consolidated properties with 9.3 million square feet and one unconsolidated joint venture property with 358,000 square feet . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | • Owned directly , or through ownership interests in unconsolidated joint ventures ( with acreage not adjusted for our percentage ownership interest ) , approximately 1,400 acres of land and controlled approximately 900 acres through purchase options . Our overall strategy is to continue to increase our investment in quality industrial properties primarily through development , on both a speculative and build - to - suit basis , supplemented with acquisitions in higher barrier markets with the highest growth potential . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | COVID-19 The recent COVID-19 pandemic has had a far - reaching impact on the global economy , which has impacted and will continue to impact our business and operations . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 23 Through April 30 , 2020 , we have collected over 96 % of April rents . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The following table sets forth percent leased and average net effective rent information regarding our in - service portfolio of rental properties at March 31 , 2020 and 2019 , respectively : The higher leased percentage in our industrial portfolio at March 31 , 2020 , compared to March 31 , 2019 , resulted from net absorption of previously vacant space , partially offset by new speculative developments being placed in service . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | 24 Vacancy Activity The following table sets forth vacancy activity , shown in square feet , from our in - service rental properties for the three months ended March 31 , 2020 ( in thousands ) : Total Leasing Activity Our ability to maintain and improve occupancy and net effective rents primarily depends upon our continuing ability to lease vacant space . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The total leasing activity for our consolidated and unconsolidated industrial rental properties , expressed in square feet of leases signed , is as follows ( in thousands ) : 25 Second Generation Leases The following table sets forth the estimated costs of tenant improvements and leasing commissions , on a per square foot basis , that we are obligated to fulfill under the second generation industrial leases signed for our rental properties during the three months ended March 31 , 2020 and 2019 : Growth in average annual net effective rents for new second generation and renewal leases , on a combined basis , for our consolidated and unconsolidated industrial rental properties , is as follows : 26 Lease Expirations The table below reflects our consolidated in - service portfolio lease expiration schedule at March 31 , 2020 ( in thousands , except percentage data and number of leases ) : Building Acquisitions Our decision process in determining whether or not to acquire a property or portfolio of properties involves several factors , including expected rent growth , multiple yield metrics , property locations and expected demographic growth in each location , current occupancy of the properties , tenant profile and remaining terms of the in - place leases in the properties . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | Because of the numerous factors considered in our acquisition decisions , we do not establish specific target yields for future acquisitions . No buildings were acquired during the three months ended March 31 , 2020 , and six buildings were acquired during the year ended December 31 , 2019 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | The following table summarizes the acquisition price , percent leased at time of acquisition and in - place yields of industrial building acquisitions ( in thousands , except percentage data ) : 27 Building Dispositions We regularly work to identify , consider and pursue opportunities to dispose of properties on an opportunistic basis and on a basis that is generally consistent with our strategic plans . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | We sold one consolidated building during the three months ended March 31 , 2020 and 28 consolidated buildings during the year ended December 31 , 2019 . | No XBRL associated data. |
Extract the named entities in this text using 139 XBRL tags in the IOB2 format. Return the results in JSON format. | At March 31 , 2020 , we had 9.7 million square feet of property under development with total estimated costs upon completion of $ 1.10 billion compared to 9.2 million square feet with total estimated costs upon completion of $ 819.0 million at March 31 , 2019 . | No XBRL associated data. |