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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
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 Contract Assets and Contract Liabilities

Contract assets consisted of the following:

 

(In thousands)

 

Contract Assets

 

Contract assets at January 1, 2021

 

$

19,401

 

Additions

 

 

30,609

 

Transferred to receivables, net

 

 

(36,647

)

Contract assets at December 31, 2021

 

$

13,363

 

Additions

 

 

42,218

 

Transferred to receivables, net

 

 

(46,652

)

Contract assets at December 31, 2022

 

$

8,929

 

Contract liabilities consisted of the following:

 

(In thousands)

 

Contract Liabilities

 

Contract liabilities at January 1, 2021

 

$

23,909

 

Additions

 

 

 

Amounts recognized into revenue

 

 

(6,079

)

Contract liabilities at December 31, 2021

 

$

17,830

 

Additions

 

 

6,769

 

Amounts recognized into revenue

 

 

(7,514

)

Amounts recognized into other income, net

 

 

(6,384

)

Contract liabilities at December 31, 2022

 

$

10,701

 

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, 2022, 2021 and 2020:

 

 

Year Ended December 31,

 

 

 

2022

 

2021

 

2020

 

Customer

 

Receivables

 

Revenue

 

Receivables

 

Revenue

 

Receivables

 

Revenue

 

Janssen

 

*

 

15

%

30

%

30

%

30

%

33

%

Biogen

 

19

%

13

%

11

%

10

%

*

 

*

 

Cardinal Health

 

24

%

24

%

17

%

20

%

16

%

21

%

AmerisourceBergen

 

18

%

14

%

13

%

11

%

11

%

10

%

McKesson

 

12

%

16

%

11

%

13

%

*

 

14

%

 

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)

 

2022

 

 

2021

 

 

2020

 

Revenue by region:

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

931,991

 

 

$

984,235

 

 

$

838,995

 

Ireland

 

 

1,829

 

 

 

2,175

 

 

 

3,233

 

Rest of world

 

 

177,975

 

 

 

187,341

 

 

 

196,528

 

Assets by region:

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

702,564

 

 

$

485,083

 

 

$

662,615

 

Ireland

 

 

427,742

 

 

 

577,086

 

 

 

448,356

 

Rest of world

 

 

 

 

 

 

 

 

 

Long-term assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S.:

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

$

529,002

 

 

$

591,217

 

 

$

472,999

 

Ireland:

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets

 

$

37,680

 

 

$

74,043

 

 

$

111,191

 

Goodwill

 

 

92,873

 

 

 

92,873

 

 

 

92,873

 

Other

 

 

174,117

 

 

 

204,182

 

 

 

161,696

 

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,

 

 

2022

 

2021

 

2020

Expected option term

 

5 - 8 years

 

5 - 7 years

 

5 - 7 years

Expected stock volatility

 

43 % - 51 %

 

43 % - 54 %

 

47 % - 54 %

Risk-free interest rate

 

1.83 % - 4.26 %

 

0.67 % - 1.46 %

 

0.24 % - 1.69 %

Expected annual dividend yield