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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Estimated Useful Life of Property, Plant and Equipment

Asset group

 

Term

Buildings and improvements

 

15 - 40 years

Furniture, fixtures and equipment

 

3 - 10 years

Leasehold improvements

 

Shorter of useful life or lease term

 

Schedule of Balance Sheet Accounts Impacted for Topic 606 The following balance sheet accounts were impacted:

(In thousands)

 

Topic 606

Adjustment

 

Contract assets

 

$

9,110

 

Inventory

 

 

(8,209

)

Deferred tax asset

 

 

109

 

Contract liabilities—short-term

 

 

(1,104

)

Contract liabilities—long-term

 

 

(724

)

Accumulated deficit

 

 

818

 

 

 

$

 

 

Schedule of Contract Assets and Contract Liabilities

Contract assets consisted of the following:

 

(In thousands)

 

Contract Assets

 

Contract assets at January 1, 2018

 

$

9,110

 

Additions

 

 

57,617

 

Transferred to receivables, net

 

 

(58,497

)

Contract assets at December 31, 2018

 

 

8,230

 

Additions

 

 

37,911

 

Transferred to receivables, net

 

 

(32,755

)

Contract assets at December 31, 2019

 

$

13,386

 

Contract liabilities consisted of the following:

 

(In thousands)

 

Contract Liabilities

 

Contract liabilities at January 1, 2018

 

$

9,442

 

Additions

 

 

6,381

 

Amounts recognized into revenue

 

 

(3,129

)

Contract liabilities at December 31, 2018

 

 

12,694

 

Additions

 

 

18,677

 

Amounts recognized into revenue

 

 

(2,537

)

Contract liabilities at December 31, 2019

 

$

28,834

 

Schedule of Revenue and Receivables From Customers Exceeding 10% of Total in Each Category The following represents revenue and receivables from the Company’s customers exceeding 10% of the total in each category as of, and for the years ended, December 31, 2019, 2018 and 2017:

 

 

Year Ended December 31,

 

 

 

2019

 

2018

 

2017

 

Customer

 

Receivables

 

Revenue

 

Receivables

 

Revenue

 

Receivables

 

Revenue

 

Janssen

 

29

%

28

%

27

%

29

%

31

%

33

%

Biogen

 

*

 

17

%

*

 

10

%

*

 

*

 

Cardinal Health

 

12

%

*

 

*

 

13

%

*

 

*

 

AmerisourceBergen

 

10

%

*

 

*

 

*

 

*

 

*

 

Acorda

 

*

 

*

 

15

%

10

%

14

%

13

%

 

Schedule of Revenues by Geographic Location, as Determined by the Location of the Customer, and the Location of its Long-term Assets

Company revenues by geographic location, as determined by the location of the customer, and the location of its assets, are as follows:

 

 

 

Year Ended December 31,

 

(In thousands)

 

2019

 

 

2018

 

 

2017

 

Revenue by region:

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

966,929

 

 

$

884,600

 

 

$

700,090

 

Ireland

 

 

3,195

 

 

 

4,915

 

 

 

9,706

 

Rest of world

 

 

200,823

 

 

 

204,759

 

 

 

193,578

 

Assets by region:

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

551,799

 

 

$

546,533

 

 

$

402,481

 

Ireland

 

 

407,791

 

 

 

433,837

 

 

 

403,167

 

Rest of world

 

 

2,381

 

 

 

2,882

 

 

 

3,196

 

Long-term assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S.:

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

$

382,029

 

 

$

312,243

 

 

$

360,641

 

Ireland:

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets

 

$

150,643

 

 

$

191,001

 

 

$

256,168

 

Goodwill

 

 

92,873

 

 

 

92,873

 

 

 

92,873

 

Other

 

 

217,887

 

 

 

245,638

 

 

 

278,701

 

Schedule of Fair Value of Each Stock Option Grant Estimated on The Grant Date Using Weighted-average Assumptions

The fair value of each stock option grant was estimated on the grant date with the following weighted‑average assumptions:

 

 

 

Year Ended December 31,

 

 

2019

 

2018

 

 

2017

Expected option term

 

5 - 7 years

 

5 - 8 years

 

 

5 - 8 years

Expected stock volatility

 

46 % - 50 %

 

44 % - 49 %

 

 

43 % - 47 %

Risk-free interest rate

 

1.34 % - 2.59 %

 

2.25 % - 3.10 %

 

 

1.69 % - 2.38 %

Expected annual dividend yield

 

 

 

 

Summary of Estimated Fair Value of Stock Options The Monte Carlo simulation model used the following assumptions:

 

Grant Date

 

Weighted-Average

Expected Volatility

 

 

Cost of Equity

 

 

Risk-Free

Interest Rate

 

February 21, 2019

 

45.0%

 

 

12.0%

 

 

2.69%