SUPPLEMENTAL FINANCIAL STATEMENTS INFORMATION

9 Months Ended

Sep. 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:

	September 30, 2023		December 31, 2022
Raw materials	$	142,133	$	131,071
Work-in-process	518,893		410,656
Finished goods	371,133		352,356
Total inventory	$	1,032,159	$	894,083

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

	September 30, 2023		December 31, 2022
Property, plant and equipment, gross	$	1,918,609	$	1,875,511
Accumulated depreciation	(851,453)		(802,145)
Total property, plant and equipment, net	$	1,067,156	$	1,073,366

Depreciation expense, net of amounts capitalized into inventory, for the three and nine months ended September 30, 2023 was $9.9 million and $29.6 million, respectively. Depreciation expense, net of amounts capitalized into inventory, for the three and nine months ended September 30, 2022 was $8.7 million and $29.9 million, respectively.

Intangible Assets, Net consisted of the following:

	September 30, 2023		December 31, 2022
Finite-lived intangible assets	$	701,793	$	690,871
Accumulated amortization	(399,317)		(352,302)
Net carrying value	$	302,476	$	338,569

    

Accounts Payable and Accrued Liabilities consisted of the following:

	September 30, 2023		December 31, 2022
Accounts payable and accrued operating expenses	$	301,369	$	231,238
Accrued compensation expense	175,183		207,573
Accrued rebates payable	103,379		72,654
Accrued litigation expense	39,000		—
Accrued royalties payable	12,293		13,306
Accrued income taxes	11,273		16,213
Foreign currency exchange forward contracts	10,584		12,601
Lease liability	9,324		10,375
Other	7,420		8,999
Total accounts payable and accrued liabilities	$	669,825	$	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 adjustments in 2023 related to one-time

severance and employee termination benefits within Selling, General and Administrative in the Company’s Condensed Consolidated Statements of Comprehensive Income. As of December 31, 2022, $11.1 million was included in Accounts Payable and Accrued Liabilities on the Company’s Consolidated Balance Sheet. As of September 30, 2023, substantially all costs have been paid.