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Revenues
 12 Months Ended
Dec. 30, 2022
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Revenues consisted of the following (in thousands):
 Year Ended December 31,
 202220212020
Product revenues:
Gross product revenues
$1,951,169 $1,452,913 $962,591 
Discounts and allowances
(549,926)(375,657)(221,041)
Net product revenues1,401,243 1,077,256 741,550 
Collaboration revenues:
License revenues
162,056 249,956 167,295 
Collaboration services revenues
47,763 107,758 78,693 
Total collaboration revenues209,819 357,714 245,988 
Total revenues$1,611,062 $1,434,970 $987,538 
Net product revenues and license revenues are recorded in accordance with Topic 606. License revenues include the recognition of the portion of milestone payments allocated to the transfer of intellectual property licenses for which it had become probable in the current period that the milestone would be achieved and a significant reversal of revenues would not occur, as well as royalty revenues and our share of profits under our collaboration agreement with Genentech. Collaboration services revenues were recorded in accordance with Topic 808. Collaboration services revenues include the recognition of deferred revenues for the portion of upfront and milestone payments allocated to our research and development services performance obligations, development cost reimbursements earned under our collaboration agreements, product supply revenues, net of product supply costs, and the royalties we paid on sales of products containing cabozantinib by our collaboration partners.
Net product revenues by product were as follows (in thousands):
Year Ended December 31,
202220212020
CABOMETYX
$1,375,909 $1,054,050 $718,687 
COMETRIQ
25,334 23,206 22,863 
Net product revenues
$1,401,243 $1,077,256 $741,550 
The percentage of total revenues by customer who individually accounted for 10% or more of our total revenues were as follows:
 
Year Ended December 31,
 
202220212020
Affiliates of AmerisourceBergen Corporation18 %14 %11 %
Affiliates of McKesson Corporation17 %14 %12 %
Affiliates of CVS Health Corporation17 %14 %14 %
Ipsen Pharma SAS10 %21 %15 %
Accredo Health, Incorporated10 %9 %9 %
Affiliates of Optum Specialty Pharmacy10 %8 %11 %
As of December 31, 2022 and 2021, the percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
 
December 31,
 
20222021
Affiliates of McKesson Corporation22 %10 %
Ipsen Pharma SAS20 %50 %
Affiliates of AmerisourceBergen Corporation18 %11 %
Affiliates of CVS Health Corporation18 %9 %
Cardinal Health, Inc.11 %6 %
Total revenues by geographic region were as follows (in thousands):
Year Ended December 31,
202220212020
U.S.
$1,413,743 $1,089,396 $752,890 
Europe
168,592 302,073 151,631 
Japan
28,727 43,501 83,017 
Total revenues
$1,611,062 $1,434,970 $987,538 
Total revenues include net product revenues attributed to geographic regions based on ship-to location and license and collaboration services revenues attributed to geographic regions based on the location of our collaboration partners’ headquarters.
Product Sales 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, 2020
$9,853 $3,279 $17,404 $30,536 
Provision related to sales made in:
Current period243,119 30,728 100,361 374,208 
Prior periods(64)(111)1,624 1,449 
Payments and customer credits issued(238,283)(25,021)(94,564)(357,868)
Balance at December 31, 2021
14,625 8,875 24,825 48,325 
Provision related to sales made in:
Current period355,865 50,312 143,516 549,693 
Prior periods611 (169)(209)233 
Payments and customer credits issued(344,220)(44,094)(132,706)(521,020)
Balance at December 31, 2022
$26,881 $14,924 $35,426 $77,231 
The allowance for chargebacks, discounts for prompt payment and other are recorded as a reduction of trade receivables, net, and the remaining reserves are recorded as rebates and fees due to customers in the accompanying Consolidated Balance Sheets.
Contract Assets and Liabilities
We receive payments from our collaboration partners based on billing schedules established in each contract. Amounts are recorded as accounts receivable when our right to consideration is unconditional. We may also recognize revenue in advance of the contractual billing schedule and such amounts are recorded as a contract asset when recognized. We may be required to defer recognition of revenue for upfront and milestone payments until we perform our obligations under these arrangements, and such amounts are recorded as deferred revenue upon receipt or when due. For those contracts that have multiple performance obligations, contract assets and liabilities are reported on a net basis at the contract level. As of December 31, 2022 and 2021, respectively, contract assets are primarily related to contract assets from Ipsen Pharma SAS (Ipsen) and contract liabilities are primarily related to deferred revenues from Takeda Pharmaceutical Company Limited (Takeda).
Contract assets and liabilities were as follows (in thousands):
 
December 31,
 
20222021
Contract assets(1)
$1,659 $1,665 
Contract liabilities:
Current portion(2)
$7,488 $7,814 
Long-term portion(3)
6,582 8,739 
Total contract liabilities$14,070 $16,553 
____________________
(1)    Presented in other long-term assets in the accompanying Consolidated Balance Sheets.
(2)    Presented in other current liabilities in the accompanying Consolidated Balance Sheets.
(3)    Presented in the long-term portion of deferred revenues in the accompanying Consolidated Balance Sheets.
During the years ended December 31, 2022, 2021 and 2020, we recognized $8.1 million, $8.5 million and $9.2 million, respectively, in revenues that were included in the beginning deferred revenues balance for those years.
During the years ended December 31, 2022, 2021 and 2020, we recognized $161.6 million, $148.7 million and $169.7 million, respectively, in revenues for performance obligations satisfied in previous periods. Such revenues were primarily related to milestone and royalty payments allocated to our license performance obligations for our collaborations with Ipsen, Takeda, Daiichi Sankyo and Genentech.
As of December 31, 2022, $73.0 million of the combined transaction prices for our Ipsen and Takeda collaborations were allocated to performance obligations that had not yet been satisfied. See “Note 3. Collaboration Agreements— Cabozantinib Collaborations —Performance Obligations and Transaction Prices for our Ipsen and Takeda Collaborations” for additional information about the expected timing to satisfy these performance obligations.