SUPPLEMENTAL BALANCE SHEET INFORMATION

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Inventory consisted of the following:


	June 30, 2021		December 31, 2020
Raw materials	$	83,720	$	76,673
Work-in-process	373,951		308,286
Finished goods	253,304		313,589
Total inventory	$	710,975	$	698,548

Inventory as of June 30, 2021 included pre-launch inventory manufacturing-related costs for the commercial production of vosoritide inventory totaling $9.6 million. Vosoritide is a product candidate for the treatment of achondroplasia in children, the most common form of disproportionate short stature in humans. The Company must receive marketing approval from the applicable regulators before the vosoritide inventory can be sold commercially. Starting in the first quarter of 2021, the Company believed that material uncertainties related to the ultimate regulatory approval of vosoritide for commercial sale in certain markets had been significantly reduced. A number of factors were taken into consideration, including the current status in the drug development process, pivotal clinical trial results for the underlying product candidate, results from meetings with the relevant regulatory authorities, historical experience, as well as potential impediments to the approval process such as product safety or efficacy, as well as commercialization and marketplace trends.

See Note 3 – Summary of Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 for additional information related to the Company’s policies on inventory produced prior to regulatory approval.

Property, Plant and Equipment, Net consisted of the following:


	June 30, 2021		December 31, 2020
Property, plant and equipment, gross	$	1,704,705	$	1,668,066
Accumulated depreciation	(678,126)		(635,595)
Total property, plant and equipment, net	$	1,026,579	$	1,032,471

Depreciation expense, net of amounts capitalized into inventory, for the three and six months ended June 30, 2021 was $11.8 million and $24.3 million, respectively. Depreciation expense, net of amounts capitalized into inventory, for the three and six months ended June 30, 2020 was $9.7 million and $20.0 million, respectively.

Intangible Assets, Net consisted of the following:


	June 30, 2021		December 31, 2020
Finite-lived intangible assets	$	652,107	$	644,087
Less: Accumulated amortization	(257,809)		(226,816)
Net carrying value	$	394,298	$	417,271

Accounts Payable and Accrued Liabilities consisted of the following:


	June 30, 2021		December 31, 2020
Accounts payable and accrued operating expenses	$	176,073	$	191,429
Accrued compensation expense	129,668		165,023
Accrued rebates payable	58,595		65,526
Accrued royalties payable	17,204		17,155
Forward foreign currency exchange contracts	11,034		17,798
Lease liabilities	11,024		11,754
Value added taxes payable	1,665		9,562
Accrued income taxes	1,538		9,661
Other	4,331		4,640
Total accounts payable and accrued liabilities	$	411,132	$	492,548