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Revenue Recognition and Collaborative Arrangements | 9 Months Ended
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Sep. 30, 2019
Revenue Recognition and Collaborative Arrangements |
Revenue Recognition and Collaborative Arrangements | 3. Revenue Recognition and Collaborative Arrangements Revenue is recognized when our customer obtains control of promised goods or services, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Revenue is recognized through a five-step process: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price for the contract; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) a performance obligation is satisfied. We recognize the royalty revenue on licensee net sales of products with respect to which we have contractual royalty rights in the period in which the royalties are earned and reported to us. Royalties are recognized net of amortization of capitalized fees associated with any approval and launch milestone payments made to GSK. Net Revenue from Collaborative Arrangements Net revenue recognized under our GSK Agreements was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
(In thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Royalties from a related party - RELVAR/BREO | ​ | $ | 46,433 | ​ | $ | 51,745 | ​ | $ | 136,259 | ​ | $ | 155,420
Royalties from a related party - ANORO | ​ | ​ | 11,548 | ​ | ​ | 9,769 | ​ | ​ | 30,753 | ​ | ​ | 29,149
Royalties from a related party - TRELEGY | ​ | ​ | 11,230 | ​ | ​ | 3,622 | ​ | ​ | 28,401 | ​ | ​ | 6,945
Total royalties from a related party | ​ | ​ | 69,211 | ​ | ​ | 65,136 | ​ | ​ | 195,413 | ​ | ​ | 191,514
Less: amortization of capitalized fees paid to a related party | ​ |  | (3,456) | ​ |  | (3,456) | ​ |  | (10,368) | ​ |  | (10,368)
Royalty revenue from GSK | ​ | $ | 65,755 | ​ | $ | 61,680 | ​ | $ | 185,045 | ​ | $ | 181,146
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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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