Balance Sheet Components

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Inventories consist of the following (in thousands):


	December 31,
	2023		2022
Raw materials	$	145,492	$	172,758
Work in progress	91,259		96,558
Finished goods	60,151		69,436
Total inventories	$	296,902	$	338,752

Prepaid expenses and other current assets consist of the following (in thousands):


	December 31,
	2023		2022
Value added tax receivables	$	143,728	$	140,484
Prepaid expenses	52,487		69,124
Other current assets	77,335		16,762
Total prepaid expenses and other current assets	$	273,550	$	226,370

Property, plant and equipment, net consist of the following (in thousands):


		December 31,
	Generally Used Estimated Useful Life	2023		2022
Clinical and manufacturing equipment	Up to 13 years	$	703,805	$	583,776
Building	20 years	517,554		466,003
Leasehold improvements	Lease term 1	62,216		64,238
Computer software and hardware	3 years	125,633		120,544
Land	—	63,875		58,885
Furniture, fixtures and other	2-5 years	122,820		102,933
Construction in progress	—	245,722		285,202
Total		1,841,625		1,681,581
Less: Accumulated depreciation and impairment charges		(550,762)		(449,726)
Total property, plant and equipment, net		$	1,290,863	$	1,231,855

1 Shorter of the remaining lease term or the estimated useful lives of the assets

Depreciation was $126.0 million, $109.8 million and $92.1 million for the year ended December 31, 2023, 2022 and 2021, respectively.

Accrued liabilities consist of the following (in thousands):


	December 31,
	2023		2022
Accrued payroll and benefits	$	220,862	$	149,508
Accrued expenses	71,109		64,341
Accrued income taxes	38,103		74,323
Accrued sales and marketing expenses	34,035		36,407
Current operating lease liabilities	29,651		26,574
Accrued property, plant and equipment	23,618		19,922

Other accrued liabilities	108,402		83,299
Total accrued liabilities	$	525,780	$	454,374

Accrued warranty as of December 31, 2023 and 2022, which is included in the “Other accrued liabilities” category in the accrued liabilities table above, consists of the following activity (in thousands):


Accrued warranty as of December 31, 2021	$	16,169
Charged to cost of net revenues	16,429

Actual warranty expenditures	(14,725)
Accrued warranty as of December 31, 2022	17,873
Charged to cost of net revenues	18,248
Actual warranty expenditures	(13,695)
Accrued warranty as of December 31, 2023	$	22,426

Deferred revenues consist of the following (in thousands):


	December 31,
	2023		2022
Deferred revenues - current	$	1,427,706	$	1,343,643
Deferred revenues - long-term 1	138,000		160,662

1 Included in Other long-term liabilities within our Consolidated Balance Sheets

During the year ended December 31, 2023 and 2022, we recognized $3,862.3 million and $3,734.6 million of net revenues, respectively, of which $732.4 million and $635.3 million was included in the deferred revenues balance at December 31, 2022 and December 31, 2021, respectively.