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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2014
Commitments and Contingencies [Abstract]  
Commitments and Contingencies
Commitments and Contingencies
 
Operating Lease Obligations:  A Lexicon subsidiary leases laboratory and office space in Hopewell, New Jersey under an amended lease agreement which previously had an expiration date in June 2018. In March 2015, the subsidiary entered into a termination agreement whereby the lease will terminate in June 2015.  The amended lease includes escalating lease payments. Rent expense is recognized on a straight-line basis over the amended lease term.  Lexicon is the guarantor of the obligation of its subsidiary under this lease.  The Company is required to maintain restricted investments to collateralize a standby letter of credit for this lease.  The Company had $0.4 million and $0.4 million in restricted investments as collateral as of December 31, 2014 and 2013, respectively.  Additionally, Lexicon leases certain equipment under operating leases.
 
Rent expense for all operating leases was approximately $1.0 million, $0.9 million and $2.2 million for the years ended December 31, 2014, 2013 and 2012, respectively.  The following table includes non-cancelable, escalating future lease payments for the facility in New Jersey, without regard to the termination agreement entered into in March 2015:
 
 
For the Year Ending
December 31
 
(in thousands)
2015
$
1,075

2016
1,101

2017
1,128

2018
572

Total
$
3,876



Employment Arrangements: Lexicon has entered into employment arrangements with certain of its corporate officers. Under the arrangements, each officer receives a base salary, subject to adjustment, with an annual discretionary bonus based upon specific objectives to be determined by the compensation committee. The employment arrangements are at-will and some contain non-competition agreements. The arrangements also provide for a termination clause, which requires either a six or 12-month payment based on the officer’s salary and, in some cases, payment of a specified portion of the officer’s bonus target for such year, in the event of termination.
 
Legal Proceedings:  Lexicon is from time to time party to claims and legal proceedings that arise in the normal course of its business and that it believes will not have, individually or in the aggregate, a material adverse effect on its results of operations, financial condition or liquidity.