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Inventories | 12 Months Ended
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Dec. 31, 2022
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consist of the following:
| As of December 31,
(In millions) | 2022 |  | 2021
Raw materials | $ | 818.4 |  |  | $ | 721.9 |
Work-in-process | 963.1 |  |  | 707.2 |
Finished goods | 98.6 |  |  | 73.7 |
Deferred costs | 521.8 |  |  | 448.5 |
| $ | 2,401.9 |  |  | $ | 1,951.3 |
Inventory balances in the table above are net of reserves of $720.7 million and $510.0 million as of December 31, 2022 and 2021, respectively. Deferred costs represent the costs of product manufactured and shipped to the Company's collaborators for which recognition of revenue has been deferred. For the years ended December 31, 2022 and 2021, Cost of goods sold included inventory write-offs and reserves of $258.7 million and $457.1 million, respectively, primarily related to REGEN-COV. Inventory write-offs and reserves for the year ended December 31, 2020 were not material.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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