REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2019

REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION

The Company operates in one business segment, which primarily focuses on the development and commercialization of innovative therapies for people with serious and life-threatening rare diseases and medical conditions. The Company considers there to be revenue concentration risks for regions where net product revenues exceed 10% of consolidated net product revenues. The concentration of the Company’s Net Product Revenues within the regions below may have a material adverse effect on the Company’s revenues and results of operations if sales in the respective regions experience difficulties.

The following table disaggregates Total Revenues from external customers and collaborative partners by geographic region.


	Years Ended December 31,
	2019		2018		2017
Total revenues by geographic region:
United States	$	778,440	$	696,793	$	588,243
Europe	509,188		436,434		398,814
Latin America	218,792		185,046		181,970
Rest of world	197,628		172,939		144,619
Total revenues	$	1,704,048	$	1,491,212	$	1,313,646

The following table disaggregates total Net Product Revenues by product.


	Years Ended December 31,
	2019		2018		2017
Net product revenues by product:
Aldurazyme	$	97,809	$	135,097	$	89,959
Brineura	71,997		39,889		8,595
Firdapse	22,348		21,787		18,890
Kuvan	463,353		433,582		407,542
Naglazyme	374,334		345,851		332,208
Palynziq	86,857		12,173		—
Vimizim	544,345		481,977		413,251
Total net product revenues	$	1,661,043	$	1,470,356	$	1,270,445

Net Product Revenues by geographic region are based on patient location for the Company’s commercial products, except for Aldurazyme. Although Genzyme sells Aldurazyme worldwide, the revenues earned by the Company based on Genzyme’s net sales are included in the U.S. region, as the transactions are with Genzyme, whose headquarters is located in the U.S. Genzyme is the Company’s sole customer for Aldurazyme and is responsible for marketing and selling Aldurazyme to third parties. The table below disaggregates total Net Product Revenues based on patient location for products sold directly by the Company, and global sales of Aldurazyme, which is marketed by Genzyme.


	Years Ended December 31,
	2019		2018		2017
Region:
United States	$	669,171	$	560,030	$	495,741
Europe	485,596		424,357		363,538
Latin America	218,792		184,984		181,963
Rest of world	189,675		165,888		139,244
Total net product revenues marketed by the Company	1,563,234		1,335,259		1,180,486
Aldurazyme net product revenues marketed by Genzyme	97,809		135,097		89,959
Total net product revenue	$	1,661,043	$	1,470,356	$	1,270,445

The following table illustrates the percentage of the Company’s total Net Product Revenues attributed to the Company’s largest customers.


	Years Ended December 31,
	2019		2018		2017
Customer A	17	%	18	%	18	%
Customer B	13	%	12	%	14	%
Customer C	11	%	10	%	10	%
Total	41	%	40	%	42	%

On a consolidated basis, two customers accounted for 24% and 16% of the Company’s December 31, 2019 accounts receivable balance, respectively, compared to December 31, 2018 when two customers accounted for 30% and 16% of the accounts receivable balance, respectively. As of December 31, 2019 and 2018, the accounts receivable balance for Genzyme included $60.2 million and $73.9 million, respectively, of unbilled accounts receivable, which become payable to the Company when the product is sold through by Genzyme. The Company does not require collateral from its customers, but does perform periodic credit evaluations of its customers’ financial condition and requires immediate payment in certain circumstances.

The Company sells its products in countries that face economic volatility and weakness. Although the Company has historically collected receivables from customers in such countries, sustained weakness or further deterioration of the local economies and currencies may cause customers in those countries to be unable to pay for the Company’s products. The Company has not historically experienced a significant level of uncollected receivables and has received continued payments from its more aged accounts in these countries. The Company believes that the allowances for doubtful accounts related to these countries, if any, was adequate based on its analysis of the specific business circumstances and expectations of collection for each of the underlying accounts in these countries.

Non-monetary long-lived assets, which primarily consist of property, plant and equipment, intangible assets, ROU assets, deferred tax assets and goodwill, are summarized by geographic region in the following table.


	December 31,
	2019		2018
Long-lived assets by geography:
United States	$	1,789,044	$	1,719,733
Ireland	292,957		220,878
Rest of world	188,505		158,583
Total long-lived assets	$	2,270,506	$	2,099,194