SUPPLEMENTAL FINANCIAL STATEMENTS INFORMATION

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUPPLEMENTAL FINANCIAL STATEMENTS INFORMATION

SUPPLEMENTAL FINANCIAL STATEMENTS INFORMATION

Supplemental Balance Sheet Information

Inventory consisted of the following:

	June 30, 2023		December 31, 2022
Raw materials	$	148,826	$	131,071
Work-in-process	468,023		410,656
Finished goods	358,697		352,356
Total inventory	$	975,546	$	894,083

Property, Plant and Equipment, Net consisted of the following:

	June 30, 2023		December 31, 2022
Property, plant and equipment, gross	$	1,896,455	$	1,875,511
Accumulated depreciation	(829,177)		(802,145)
Total property, plant and equipment, net	$	1,067,278	$	1,073,366

Depreciation expense, net of amounts capitalized into inventory, for the three and six months ended June 30, 2023 was $9.4 million and $19.7 million, respectively. Depreciation expense, net of amounts capitalized into inventory, for the three and six months ended June 30, 2022 was $9.5 million and $21.2 million, respectively.

Intangible Assets, Net consisted of the following:

	June 30, 2023		December 31, 2022
Finite-lived intangible assets	$	693,761	$	690,871
Accumulated amortization	(383,418)		(352,302)
Net carrying value	$	310,343	$	338,569

    

Accounts Payable and Accrued Liabilities consisted of the following:

	June 30, 2023		December 31, 2022
Accounts payable and accrued operating expenses	$	277,944	$	231,238
Accrued compensation expense	123,422		207,573
Accrued rebates payable	88,664		72,654
Accrued litigation expense	39,000		—
Foreign currency exchange forward contracts	19,572		12,601
Accrued income taxes	18,287		16,213
Accrued royalties payable	13,360		13,306
Lease liability	8,294		10,375
Other	8,688		8,999
Total accounts payable and accrued liabilities	$	597,231	$	572,959

Reorganization Plan

On October 6, 2022, the Company announced a plan to simplify its organization that included a planned reduction in force of approximately 120 employees (representing approximately 4% of its global workforce), which was substantially completed as of December 31, 2022. The Company recorded costs of $23.0 million in 2022 and negligible costs in 2023 related to one-time

termination severance and employee termination benefits within Selling, General and Administrative in the Company’s Condensed Consolidated Statements of Comprehensive Income. As of June 30, 2023, $21.3 million has been paid to date, of which $9.4 million was paid in 2023. The Company does not expect to incur significant incremental costs in future periods. The unpaid balance as of June 30, 2023 was included in Accounts Payable and Accrued Liabilities on the Company’s Condensed Consolidated Balance Sheet and is expected to be paid in 2023.