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Other Long-Term Liabilities | 6 Months Ended
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Jun. 30, 2017
Other Long-Term Liabilities |
Other Long-Term Liabilities | (6) Other Long-Term Liabilities Other long-term liabilities include the following:
|  | June 30, 2017 |  | December 31, 2016 |
|  | (In thousands) |
Deferred Rent |  | $ | 710 |  | $ | 398 |
Net Deferred Tax Liabilities related to IPR&D |  | 28,054 |  | 28,054 |
Deferred Income from Sale of Tax Benefits |  | 8,940 |  | 9,436 |
Accrued Lease Restructuring |  | 1,150 |  | 1,154 |
Long-Term Severance |  | 181 |  | 539 |
Contingent Milestones |  | 48,600 |  | 44,200 |
Deferred Revenue |  | 3,729 |  | 3,749 |
Total |  | 91,364 |  | 87,530 |
Less Current Portion |  | (5,538 | ) | (4,826 | )
Long-Term Portion |  | $ | 85,826 |  | $ | 82,704 |
In November 2015, December 2014, January 2014 and January 2013, the Company received approval from the New Jersey Economic Development Authority and agreed to sell New Jersey tax benefits of $9.8 million, $1.9 million, $1.1 million and $0.8 million to an independent third party for $9.2 million, $1.8 million, $1.0 million and $0.8 million, respectively. Under the agreement, the Company must maintain a base of operations in New Jersey for five years or the tax benefits must be paid back on a pro-rata basis based on the number of years completed. The Company recorded $0.5 million and $0.6 million to other income related to the sale of these tax benefits during the six months ended June 30, 2017 and 2016, respectively. In December 2016, the Company decided not to occupy the 11,500 square feet of expansion space (“Needham Expansion”) at its Needham, Massachusetts facility. The Company agreed to lease the Needham Expansion in August 2015 and the term of the lease expires in July 2020. The Company is actively trying to sublease the lease obligation. In March 2017, the Company terminated its lease in Branford, CT and consolidated its Connecticut operations in its New Haven, CT facility. The Company recorded restructuring expense of $0.2 million to general and administrative expense related to the Branford, CT lease termination. The activity related to accrued lease restructuring for the six months ended June 30, 2017 is presented below (in thousands):
|  | Accrued Lease Restructuring |
Balance at December 31, 2016 |  | $ | 1,154 |
Expense |  | 267 |
Payments |  | (271 | )
Balance at June 30, 2017 |  | $ | 1,150 |

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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