Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2023

Sale of Equity Interests in Theravance Respiratory Company, LLC and Discontinued Operations

Summary of discontinued operations

	Three Months Ended March 31,
(In thousands)	2023		2022
Income from investments in TRC, LLC	$	—	$	25,110
Transaction-related legal expenses (prior to July 20, 2022)		—		(1,279)
Interest expense on 9.5% Non-recourse notes due 2035		—		(9,518)
Provision for income tax expense		—		—
Net income from discontinued operations	$	—	$	14,313

Summary of TRC's Statement of income and equity Interest

	Three Months Ended
	March 31,
(In thousands)	2022
Royalty revenue and gross profit	$	29,309
Income from continuing operations		29,112
Net income		29,541