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Other Balance Sheet Components
 12 Months Ended
Dec. 31, 2025
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 December 31, 2025 and 2024 consisted of the following (in millions):
December 31,
20252024
Accounts receivable$368 $698 
Less: Wholesalers chargebacks, discounts and fees
(181)(340)
Less: Allowance for doubtful accounts
(3)— 
Accounts receivable, net$184 $358 

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets, as of December 31, 2025 and 2024 consisted of the following (in millions):
December 31,
20252024
Prepaid services$169 $173 
Down payments and prepayments related to manufacturing and materials
61 106 
Interest receivable42 59 
Value added tax receivable37 45 
Prepaid income tax
33 28 
Collaboration receivable13 58 
Income tax receivable8 72 
Other current assets45 58 
Prepaid expenses and other current assets
$408 $599 
Other Non-Current Assets

Other non-current assets, as of December 31, 2025 and 2024 consisted of the following (in millions):
December 31,
20252024
Income tax receivable, non-current
$161 $97 
Inventory, non-current(1)
114 150 
Down payments and prepayments, non-current
100 139 
Deferred tax assets
81 81 
Goodwill
52 52 
Finite-lived intangible asset
45 40 
Equity investments6 14 
Other46 21 
Other non-current assets$605 $594 
_______
(1)Consisted of raw materials with an anticipated consumption beyond one year.

Accrued Liabilities

Accrued liabilities, as of December 31, 2025 and 2024 consisted of the following (in millions):
December 31,
20252024
Provisions related to product sales (Note 3)
$509 $370 
Compensation-related420 312 
Manufacturing140 109 
Development operations106 120 
Other external goods and services57 131 
Property, plant and equipment45 99 
Royalties31 46 
Raw materials30 41 
Commercial23 45 
Clinical trials20 94 
Loss on future firm purchase commitments(1)
5 60 
Accrued liabilities$1,386 $1,427 
______
(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 December 31, 2025 and 2024 consisted of the following (in millions):
December 31,
20252024
Estimated reimbursements to wholesalers and distributors$84 $103 
Research and development funding liability (Note 5)
43 58 
Lease liabilities - financing (Note 10)
25 23 
Lease liabilities - operating (Note 10)
17 14 
Other16 23 
Other current liabilities$185 $221 
Other Non-Current Liabilities

Other non-current liabilities, as of December 31, 2025 and 2024 consisted of the following (in millions):
December 31,
20252024
Tax liabilities
$249 $231 
Other
36 36 
Other non-current liabilities
$285 $267 

Deferred Revenue

The following table summarizes the activities in deferred revenue during the year ended December 31, 2025 (in millions):
December 31, 2024AdditionsDeductionsDecember 31, 2025
Net product sales
$188 $108 $(189)$107 
Other revenue
23 212 (90)145 
Total deferred revenue$211 $320 $(279)$252