Balance Sheet Components

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Balance Sheet Components

Inventories consist of the following (in thousands): 

	December 31,
	2022		2021
Raw materials	$	172,758	$	123,234
Work in progress	96,558		51,706
Finished goods	69,436		55,290
Total inventories	$	338,752	$	230,230

Prepaid expenses and other current assets consist of the following (in thousands): 

	December 31,
	2022		2021
Value added tax receivables	$	140,484	$	93,610
Prepaid expenses	69,124		70,218
Other current assets	16,762		31,477
Total prepaid expenses and other current assets	$	226,370	$	195,305

Property, plant and equipment consist of the following (in thousands):

		December 31,
	Generally Used Estimated Useful Life	2022		2021
Clinical and manufacturing equipment	Up to 10 years	$	583,776	$	452,876
Building	20 years	466,003		310,344
Leasehold improvements	Lease term 1	64,238		61,289
Computer software and hardware	3 years	120,544		117,986
Land	—	58,885		58,869
Furniture, fixtures and other	2-5 years	102,933		71,977
Construction in progress	—	285,202		367,686
Total		1,681,581		1,441,027
Less: Accumulated depreciation and impairment charges		(449,726)		(359,101)
Total property, plant and equipment, net		$	1,231,855	$	1,081,926

1    Shorter of the remaining lease term or the estimated useful lives of the assets

Depreciation was $109.8 million, $92.1 million and $80.1 million for the year ended December 31, 2022, 2021 and 2020, respectively.

Accrued liabilities consist of the following (in thousands): 

	December 31,
	2022		2021
Accrued payroll and benefits	$	149,508	$	288,355
Accrued income taxes	74,323		33,838
Accrued expenses	64,341		67,169
Accrued sales and marketing expenses	36,407		41,387
Current operating lease liabilities	26,574		22,719
Accrued property, plant and equipment	19,922		46,561
Other accrued liabilities	83,299		107,286
Total accrued liabilities	$	454,374	$	607,315

Accrued warranty as of December 31, 2022 and 2021, which is included in the “Other accrued liabilities” category of the accrued liabilities table above, consists of the following activity (in thousands):

Accrued warranty as of December 31, 2020	$	12,615
Charged to cost of net revenues	18,213
Actual warranty expenditures	(14,659)
Accrued warranty as of December 31, 2021	16,169
Charged to cost of net revenues	16,429
Actual warranty expenditures	(14,725)
Accrued warranty as of December 31, 2022	$	17,873

Deferred revenues consist of the following (in thousands):

	December 31,
	2022		2021
Deferred revenues - current	$	1,343,643	$	1,152,870
Deferred revenues - long-term 1	160,662		136,684

1    Included in Other long-term liabilities within our Consolidated Balance Sheet

During the year ended December 31, 2022 and 2021, we recognized $3,734.6 million and $3,952.6 million of net revenues, respectively, of which $635.3 million and $481.1 million was included in the deferred revenues balance at December 31, 2021 and December 31, 2020, respectively.