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Segment Reporting and Disaggregation of Relevant Expense Captions
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting and Disaggregation of Relevant Expense Captions Segment Reporting and Disaggregation of Relevant Expense Captions
Neurocrine Biosciences operates as a single global business segment dedicated to the research and development, commercialization, and sale of pharmaceuticals primarily in the U.S. for the treatment of neurological, neuroendocrine, and neuropsychiatric disorders. Net product sales from external customers attributed to foreign countries, intra-entity sales, and long-lived assets located outside the U.S. were not significant for 2024, 2023, or 2022. The accounting policies of the segment are the same as those described in the summary of significant accounting policies.
The determination of a single business segment is consistent with the consolidated financial information regularly reviewed by the Chief Executive Officer as chief operating decision maker (CODM) in assessing segment performance and deciding how to allocate resources on a consolidated basis.
The CODM assesses performance for the segment and decides how to allocate resources based on net income that also is reported on the consolidated statements of income as consolidated net income. The CODM uses net income to monitor budget and forecast versus actual results in assessing segment performance and to evaluate income generated from segment assets in deciding how to allocate resources. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets.
The following table presents information about reported segment revenues, segment profit, and significant segment expenses.
Year Ended December 31,
(in millions)202420232022
Revenues
$2,355.3 $1,887.1 $1,488.7 
Less:
Cost of revenues34.0 39.7 23.2 
Research and development:
External research and development 343.5 310.0 213.5 
Payroll and benefits236.7 206.7 163.8 
Milestones71.7 0.8 42.7 
Other research and development (1)
79.2 47.5 43.8 
Total research and development731.1 565.0 463.8 
Acquired in-process research and development12.5 143.9 — 
Selling, general, and administrative1,007.2 887.6 752.7 
Unrealized loss (gain) on equity investments37.1 (28.4)(30.8)
Charges associated with convertible senior notes138.4 — 70.0 
Interest income and other, net(91.0)(52.8)(4.1)
Provision for income taxes144.7 82.4 59.4 
Net income
$341.3 $249.7 $154.5 
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(1) Other research and development consists of indirect costs incurred for the benefit of multiple research and development programs, including depreciation, information technology, and other facility-based expenses, such as rent expense.