Restructuring, Impairment and Costs of Terminated Program, and Impairment of Goodwill (Tables)

6 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring, Impairment and Other Costs of Terminated Program

Restructuring, impairment and other costs of terminated program pertaining to the 2022 Restructuring Plan includes the following (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Clinical trial expense, other third-party and employee costs for the wind down of the bempegaldesleukin program	$	1,356	$	20,408	$	2,954	$	20,408
Severance and benefits expense	—		27,750		—		27,750
Impairment of right-of-use assets and property, plant and equipment	13,255		57,321		13,255		57,321
Contract termination and other restructuring costs	—		566		878		2,041
Restructuring, impairment and costs of terminated program	$	14,611	$	106,045	$	17,087	$	107,520

Restructuring, impairment and other costs of terminated program pertaining to the 2023 Restructuring Plan includes the following (in thousands):

	Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
Severance and benefit expense	$	1,943	$	7,426
Impairment of right-of-use assets and property, plant and equipment	—		13,200
Contract termination and other restructuring costs	—		34
Restructuring, impairment and costs of terminated program	$	1,943	$	20,660

The following table provides details regarding the severance and benefit expense for the three and six months ended June 30, 2023 pursuant to the 2023 Restructuring Plan and a reconciliation of the severance and benefits liability for the three and six months ended June 30, 2023 pursuant to the 2022 and 2023 Restructuring Plans, which we report within accrued expenses on our Condensed Consolidated Balance Sheet (in thousands):

	Six Months Ended June 30, 2023
	2023 Restructuring Plan		2022 Restructuring Plan		Total
Liability balance as of December 31, 2022	$	—	$	3,299	$	3,299
Expense recognized during the period	5,483		—		5,483
Payments during the period	—		(3,299)		(3,299)
Liability balance as of March 31, 2023	$	5,483	$	—	$	5,483
Expense recognized during the period	1,943		—		1,943
Payments during the period	(6,624)		—		(6,624)
Liability balance as of June 30, 2023	$	802	$	—	$	802

Additionally, we recorded an impairment expense primarily for software which we planned to abandon and certain excess equipment based on the estimated income from selling such assets. We recorded impairment charges as follows (in thousands):

	Three and Six months ended June 30, 2022
	Property, Plant and Equipment		Operating Lease Right-of-Use Assets		Total
Net book value of impaired facilities before write-off	$	16,348	$	70,920	$	87,268
Less: Fair value of impaired facilities — Level 3 of Fair Value Hierarchy	(6,976)		(28,091)		(35,067)
Impairment expense for facilities	9,372		42,829		52,201
Impairment of other property, plant and equipment	5,120		—		5,120
Total impairment of right-of-use assets and property, plant and equipment	$	14,492	$	42,829	$	57,321

The following table presents a reconciliation of the non-cash impairment charges we recorded for these long-lived assets for the three and six months ended June 30, 2023 (in thousands):

	Three Months Ended June 30, 2023
	Property, Plant and Equipment		Operating Lease Right-of-Use Assets		Total
Net book value of impaired facilities before write-off	$	2,092	$	16,392	$	18,484
Less: Fair value of impaired facilities — Level 3 of Fair Value Hierarchy	(529)		(4,700)		(5,229)
Total impairment of right-of-use assets and property, plant and equipment	1,563		11,692		13,255

	Six Months Ended June 30, 2023
	Property, Plant and Equipment		Operating Lease Right-of-Use Assets		Total
Net book value of impaired facilities before write-off	$	7,206	$	44,826	$	52,032
Less: Fair value of impaired facilities — Level 3 of Fair Value Hierarchy	(3,843)		(23,434)		(27,277)
Impairment expense for facilities	3,363		21,392		24,755
Impairment of other property, plant and equipment	1,700		—		1,700
Total impairment of right-of-use assets and property, plant and equipment	$	5,063	$	21,392	$	26,455