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v3.22.1

Revenues (Tables) | 3 Months Ended
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Apr. 01, 2022
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Revenues consisted of the following (in thousands):
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |  |  |
Product revenues: |  |  |  |  |  |  |  |  |
Gross product revenues | $ | 448,237 |  |  | $ | 314,205 |  |  |  |  |  |  |
Discounts and allowances | (137,939) |  |  | (86,993) |  |  |  |  |  |  |
Net product revenues | 310,298 |  |  | 227,212 |  |  |  |  |  |  |
Collaboration revenues: |  |  |  |  |  |  |  |  |
License revenues | 32,067 |  |  | 27,528 |  |  |  |  |  |  |
Collaboration services revenues | 13,615 |  |  | 15,490 |  |  |  |  |  |  |
Total collaboration revenues | 45,682 |  |  | 43,018 |  |  |  |  |  |  |
Total revenues | $ | 355,980 |  |  | $ | 270,230 |  |  |  |  |  |  |
Net product revenues by product were as follows (in thousands):
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |  |  |
CABOMETYX | $ | 302,812 |  |  | $ | 223,595 |  |  |  |  |  |  |
COMETRIQ | 7,486 |  |  | 3,617 |  |  |  |  |  |  |
Net product revenues | $ | 310,298 |  |  | $ | 227,212 |  |  |  |  |  |  |
Schedule of Concentration Risks | The percentage of total revenues by customer who individually accounted for 10% or more of our total revenues were as follows:
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |  |  |
Affiliates of McKesson Corporation | 19 | % |  | 13 | % |  |  |  |  |  |
Affiliates of CVS Health Corporation | 17 | % |  | 15 | % |  |  |  |  |  |
Affiliates of AmerisourceBergen Corporation | 17 | % |  | 14 | % |  |  |  |  |  |
Ipsen Pharma SAS | 10 | % |  | 13 | % |  |  |  |  |  |
Affiliates of Optum Specialty Pharmacy | 10 | % |  | 9 | % |  |  |  |  |  |
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
| March 31, 2022 |  | December 31, 2021 |  |  |  |
Affiliates of McKesson Corporation | 22 | % |  | 10 | % |  |  |  |
Ipsen Pharma SAS | 21 | % |  | 50 | % |  |  |  |
Affiliates of AmerisourceBergen Corporation | 21 | % |  | 11 | % |  |  |  |
Affiliates of CVS Health Corporation | 15 | % |  | 9 | % |  |  |  |
Schedule of Revenues Disaggregated by Geographic Region | Revenues by geographic region were as follows (in thousands):
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |  |  |
U.S. | $ | 314,065 |  |  | $ | 229,957 |  |  |  |  |  |  |
Europe | 34,527 |  |  | 33,806 |  |  |  |  |  |  |
Japan | 7,388 |  |  | 6,467 |  |  |  |  |  |  |
Total revenues | $ | 355,980 |  |  | $ | 270,230 |  |  |  |  |  |  |
Schedule of Activities and Ending Reserve Balances for Significant Categories of Discounts and Allowances | The activities and ending reserve balances for each significant category of discounts and allowances, which constitute variable consideration, were as follows (in thousands):
| Chargebacks, Discounts for Prompt Payment and Other |  | Other Customer Credits/Fees and Co-pay Assistance |  | Rebates |  |  |  | Total
Balance at December 31, 2021 | $ | 14,625 |  |  | $ | 8,875 |  |  | $ | 24,825 |  |  |  |  | $ | 48,325 |
Provision related to sales made in: |  |  |  |  |  |  |  |  |
Current period | 86,620 |  |  | 12,087 |  |  | 38,734 |  |  |  |  | 137,441 |
Prior periods | 154 |  |  | (43) |  |  | 387 |  |  |  |  | 498 |
Payments and customer credits issued | (83,004) |  |  | (10,227) |  |  | (24,641) |  |  |  |  | (117,872) |
Balance at March 31, 2022 | $ | 18,395 |  |  | $ | 10,692 |  |  | $ | 39,305 |  |  |  |  | $ | 68,392 |
Schedule of Other Assets and Other Liabilities | Contract assets and liabilities were as follows (in thousands):
| March 31, 2022 |  | December 31, 2021
Contract assets (1) | $ | 3,235 |  |  | $ | 1,665 |
Contract liabilities: |  |  |
Current portion (2) | $ | 7,349 |  |  | $ | 7,814 |
Long-term portion (3) | 8,035 |  |  | 8,739 |
Total contract liabilities | $ | 15,384 |  |  | $ | 16,553 |
____________________ (1) Presented in other long-term assets in the accompanying Condensed Consolidated Balance Sheets. (2) Presented in other current liabilities in the accompanying Condensed Consolidated Balance Sheets. (3) Presented in the long-term portion of deferred revenues in the accompanying Condensed Consolidated Balance Sheets

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