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OTHER CURRENT AND LONG-TERM ASSETS
 6 Months Ended
Jun. 30, 2024
Other Assets, Noncurrent [Abstract]  
OTHER CURRENT AND LONG-TERM ASSETS OTHER CURRENT AND LONG-TERM ASSETS
Other Current Assets

Other current assets consisted of the following:
(in thousands)June 30, 2024December 31, 2023
  
Contract assets, net (1)
$58,714 $55,111 
Consideration paid to customers (2)
59,626 54,081 
Prepaid expenses46,453 48,370 
Taxes receivable15,988 16,972 
Other assets32,677 29,061 
Other current assets$213,458 $203,595 

(1) Contract assets, net, are net of allowances for credit losses. Refer to "Note 6. Credit Losses."
(2) Refer to “Note 3. Revenue. Up-Front Consideration Paid to Customers” for more information regarding consideration paid to customers.

Other Long-Term Assets

Other long-term assets consisted of the following:
(in thousands)June 30, 2024December 31, 2023
Contract assets, net (1)
$180,169 $167,963 
Consideration paid to customers (2)
131,935 114,850 
Deferred income taxes126,057 107,364 
Equity investments30,000 30,250 
Investments in long-term product supply arrangements23,792 25,943 
Other assets47,765 50,164 
Other long-term assets$539,718 $496,534 

(1) Contract assets, net, are net of allowances for credit losses. Refer to "Note 6. Credit Losses."
(2) Refer to “Note 3. Revenue. Up-Front Consideration Paid to Customers” for more information regarding consideration paid to customers.