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Certain Balance Sheet Items | 6 Months Ended
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Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract] |
Certain Balance Sheet Items | Certain Balance Sheet Items Accounts receivable, net and contract assets consisted of the following (in thousands):
|  | June 30, 2024 |  | December 31, 2023
Accounts receivable from product sales to partners |  | $ | 29,307 |  |  | $ | 58,588 |
Accounts receivable from revenues under collaborative agreements |  | 9,803 |  |  | 16,183 |
Accounts receivable from royalty payments |  | 128,015 |  |  | 118,170 |
Accounts receivable from other product sales |  | 49,909 |  |  | 47,060 |
Contract assets |  | 4,108 |  |  | 956 |
Total accounts receivable and contract assets |  | 221,142 |  |  | 240,957 |
Allowance for distribution fees and discounts |  | (6,618) |  |  | (6,747) |
Total accounts receivable, net and contract assets |  | $ | 214,524 |  |  | $ | 234,210 |
Inventories, net consisted of the following (in thousands):
|  | June 30, 2024 |  | December 31, 2023
Raw materials |  | $ | 27,223 |  |  | $ | 23,646 |
Work-in-process |  | 36,690 |  |  | 34,025 |
Finished goods |  | 126,643 |  |  | 69,930 |
Total inventories, net |  | 190,556 |  |  | 127,601 |
Less long-term portion (1) |  | 31,244 |  |  | — |
Total inventories, net current |  | $ | 159,312 |  |  | $ | 127,601 |
(1) Long-term portion of inventories, net represents inventory expected to remain on hand beyond one year and therefore is included in prepaid expenses and other assets in the condensed consolidated balance sheets. Prepaid expenses and other assets consisted of the following (in thousands):
|  | June 30, 2024 |  | December 31, 2023
Prepaid manufacturing expenses |  | $ | 30,928 |  |  | $ | 36,850 |
Other prepaid expenses |  | 53,936 |  |  | 12,902 |
Other assets (1) |  | 21,304 |  |  | 16,677 |
Total prepaid expenses and other assets |  | 106,168 |  |  | 66,429 |
Less long-term portion (1) |  | (21,237) |  |  | (17,816) |
Total prepaid expenses and other assets, current |  | $ | 84,931 |  |  | $ | 48,613 |
(1) Excludes long-term inventories, net discussed in the table above. Prepaid manufacturing expenses include raw materials, slot reservation fees and other amounts paid to contract manufacturing organizations. Such amounts are reclassified to work-in-process inventory as materials are used or the contract manufacturing organization services are complete. Property and equipment, net consisted of the following (in thousands):
|  | June 30, 2024 |  | December 31, 2023
Research equipment |  | $ | 8,796 |  |  | $ | 8,588 |
Manufacturing equipment |  | 37,427 |  |  | 32,472 |
Computer and office equipment |  | 9,183 |  |  | 9,722 |
Leasehold improvements |  | 7,042 |  |  | 6,987 |
Subtotal |  | 62,448 |  |  | 57,769 |
Accumulated depreciation and amortization |  | (22,239) |  |  | (19,661) |
Subtotal |  | 40,209 |  |  | 38,108 |
Right of use of assets |  | 34,791 |  |  | 36,836 |
Total property and equipment, net |  | $ | 75,000 |  |  | $ | 74,944 |
Depreciation and amortization expense was approximately $2.6 million and $2.8 million, inclusive of ROU asset amortization of $1.4 million and $1.4 million for the three months ended June 30, 2024 and 2023, respectively. Depreciation and amortization expense was approximately $5.0 million and $5.4 million, inclusive of ROU asset amortization of $2.9 million and $2.8 million for the six months ended June 30, 2024 and 2023, respectively. Accrued expenses consisted of the following (in thousands):
|  | June 30, 2024 |  | December 31, 2023
Accrued compensation and payroll taxes |  | $ | 12,561 |  |  | $ | 17,361 |
Accrued outsourced manufacturing expenses |  | 13,523 |  |  | 12,361 |
Income taxes payable |  | 29,265 |  |  | 963 |
Product returns and sales allowance |  | 42,653 |  |  | 41,932 |
Other accrued expenses |  | 19,771 |  |  | 33,584 |
Lease liability |  | 30,664 |  |  | 32,197 |
Total accrued expenses |  | 148,437 |  |  | 138,398 |
Less long-term portion |  | (30,507) |  |  | (37,720) |
Total accrued expenses, current |  | $ | 117,930 |  |  | $ | 100,678 |
Expense associated with the accretion of the lease liabilities was approximately $0.6 million and $0.6 million for the three months ended June 30, 2024 and 2023, respectively and $1.2 million and $1.3 million for the six months ended June 30, 2024 and 2023, respectively. Total lease expense for the three months ended June 30, 2024 and 2023 was $2.0 million and $2.0 million, respectively, and $4.0 million and $4.1 million for the six months ended June 30, 2024 and 2023, respectively. Cash paid for amounts related to leases for the three months ended June 30, 2024 and 2023 was $1.7 million and $1.7 million, respectively, and $3.5 million and $3.4 million for the six months ended June 30, 2024 and 2023, respectively.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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