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Revenue (Tables)
3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Summary of Changes in Deferred Revenue Related to Material Rights

Changes in deferred revenue related to material rights for the three months ended March 31, 2024 and 2023 were as follows:

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Balance, beginning of period

 

$

130,469

 

 

$

117,416

 

Recognition of revenue included in beginning of period balance

 

 

(5,723

)

 

 

(5,086

)

Contract balance, net of revenue recognized during the period

 

 

12,293

 

 

 

8,472

 

Balance, end of period

 

$

137,039

 

 

$

120,802

 

 

Summary of Asset Balances and Related Amortization Expense For Contract Costs

The following tables present the asset balances and related amortization expense for these contract costs:

 

 

 

As of and for the Three Months Ended March 31, 2024

 

 

 

Beginning

 

 

Capitalization

 

 

 

 

 

Ending

 

 

 

Balance

 

 

of Costs

 

 

Amortization

 

 

Balance

 

 Costs to obtain a contract

 

$

378,467

 

 

$

33,843

 

 

$

(15,380

)

 

$

396,930

 

 Costs to fulfill a contract

 

$

420,011

 

 

$

35,557

 

 

$

(15,166

)

 

$

440,402

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of and for the Three Months Ended March 31, 2023

 

 

 

Beginning

 

 

Capitalization

 

 

 

 

 

Ending

 

 

 

Balance

 

 

of Costs

 

 

Amortization

 

 

Balance

 

 Costs to obtain a contract

 

$

325,457

 

 

$

31,497

 

 

$

(12,963

)

 

$

343,991

 

 Costs to fulfill a contract

 

$

338,895

 

 

$

33,649

 

 

$

(11,956

)

 

$

360,588