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Other Balance Sheet Components
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Balance Sheet Components
9. Other Balance Sheet Components

Accounts Receivable, net

Accounts receivable, net, as of June 30, 2024 and December 31, 2023 consisted of the following (in millions):
June 30,December 31,
20242023
Accounts receivable$492 $1,584 
Less: Wholesalers chargebacks, discounts and fees
(329)(692)
Accounts receivable, net$163 $892 

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets, as of June 30, 2024 and December 31, 2023 consisted of the following (in millions):
June 30,December 31,
20242023
Prepaid services$184 $182 
Down payments and prepayments related to manufacturing and materials
111 168 
Income tax receivable105 19 
Collaboration receivable73 61 
Interest receivable56 59 
Value added tax receivable26 50 
Prepaid income tax
25 — 
Other current assets31 88 
Prepaid expenses and other current assets$611 $627 
Other Non-Current Assets

Other non-current assets, as of June 30, 2024 and December 31, 2023 consisted of the following (in millions):
June 30,December 31,
20242023
Down payments and prepayments, non-current
$321 $342 
Inventory, non-current(1)
161 170 
Goodwill
52 52 
Finite-lived intangible asset
42 44 
Equity investments31 66 
Other34 11 
Other non-current assets$641 $685 
_______
(1)Consisted of raw materials with an anticipated consumption beyond one year.

Accrued Liabilities

Accrued liabilities, as of June 30, 2024 and December 31, 2023 consisted of the following (in millions):
June 30,December 31,
20242023
Provisions related to product sales (Note 3)
$554 $556 
Compensation-related187 245 
Manufacturing119 167 
Other external goods and services109 137 
Clinical trials96 175 
Property, plant and equipment93 94 
Development operations90 140 
Raw materials42 27 
Commercial
32 56 
Royalties10 122 
Loss on future firm purchase commitments(1)
1 79 
Accrued liabilities$1,333 $1,798 
______
(1)Related to losses that are expected to arise from firm, non-cancellable, commitments for future raw material purchases (Note 7).

Other Current Liabilities

Other current liabilities, as of June 30, 2024 and December 31, 2023 consisted of the following (in millions):
June 30,December 31,
20242023
Lease liabilities - operating (Note 10)
$25 $25 
Other17 41 
Other current liabilities$42 $66 
Deferred Revenue

The following table summarizes the activities in deferred revenue for the six months ended June 30, 2024 (in millions):
December 31, 2023AdditionsDeductionsJune 30, 2024
Product sales$613 $196 $(69)$740 
Grant revenue4 — — 4 
Collaboration revenue34 6 (7)33 
Licensing and royalty revenue
— 20 — 20 
Total deferred revenue$651 $222 $(76)$797