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Revenue recognition | 3 Months Ended
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Mar. 31, 2022
Revenue from Contract with Customer [Abstract] |
Revenue recognition | Revenue recognition The Company operates as two operating segments (Note 14, Segment information). The Company's revenues disaggregated by the major sources were as follows:
| Three Months Ended March 31, 2022 |  | Three Months Ended March 31, 2021
| U.S. Government |  | Non-U.S. Government |  | Total |  | U.S. Government |  | Non-U.S. Government |  | Total
Product sales, net | $ | 103.4 |  |  | $ | 133.7 |  |  | $ | 237.1 |  |  | $ | 56.4 |  |  | $ | 81.5 |  |  | $ | 137.9 |
Contract development and manufacturing: |  |  |  |  |  |  |  |  |  |  |
Services | — |  |  | 51.8 |  |  | 51.8 |  |  | — |  |  | 67.6 |  |  | 67.6 |
Leases | — |  |  | 9.0 |  |  | 9.0 |  |  | 97.5 |  |  | 18.7 |  |  | 116.2 |
Total contract development and manufacturing | $ | — |  |  | $ | 60.8 |  |  | $ | 60.8 |  |  | $ | 97.5 |  |  | $ | 86.3 |  |  | $ | 183.8 |
Contracts and grants | 9.1 |  |  | 0.5 |  |  | 9.6 |  |  | 20.0 |  |  | 1.3 |  |  | 21.3 |
Total revenues | $ | 112.5 |  |  | $ | 195.0 |  |  | $ | 307.5 |  |  | $ | 173.9 |  |  | $ | 169.1 |  |  | $ | 343.0 |
BARDA COVID-19 Development Public-Private Partnership In 2020, the Company announced the issuance of a task order under our existing Center for Innovation in Advanced Development and Manufacturing (CIADM) agreement with BARDA for COVID-19 vaccine development and manufacturing (the BARDA COVID-19 Development Public Private Partnership). The BARDA COVID-19 Development Public Private Partnership is considered a lease and is accounted for under ASC 842. The initial task order had a contract value of up to $628.2 million and included the reservation of manufacturing capacity and accelerated expansion of fill/finish capacity valued at $542.7 million and $85.5 million, respectively. Subsequently, the task order was expanded to include incremental capital activities which increased the value to $650.8 million. On November 1, 2021, the Company and BARDA mutually agreed to terminate the Company's CIADM contract and associated task orders, including the BARDA COVID-19 Development Public Private Partnership. The Company did not recognize lease revenues under this arrangement during the three months ended March 31, 2022. During the three months ended March 31, 2021 the Company recognized lease revenues of $97.5 million related to this arrangement. CDMO operating leases Certain multi-year CDMO service arrangements with commercial customers include operating leases whereby the customer has the right to direct the use of and obtain substantially all of the economic benefits of specific manufacturing suites operated by the Company. The associated revenue is recognized on a straight-line basis over the term of the lease. The remaining term on the Company's operating lease components approximates 2.1 years. The Company utilizes a cost-plus model to determine the stand-alone selling price of the lease component to allocate contract consideration between the lease and non-lease components. The Company has allocated contract operating lease revenues due under our long-term CDMO services arrangements as follows:
| Year ended December 31, |
2022 (1) | $ | 24.1 |  |
2023 | 36.5 |  |
2024 | 32.2 |  |
2025 | 8.7 |  |
Thereafter | 2.7 |  |
| $ | 104.2 |  |
(1) As of March 31, 2022, amount represents the nine months ending December 31, 2022.
Transaction price allocated to remaining performance obligations As of March 31, 2022, the Company has future contract value on unsatisfied performance obligations of approximately $1.1 billion associated with all arrangements entered into by the Company. The Company expects to recognize a majority of the $1.1 billion of unsatisfied performance obligations within the next 24 months. The amount and timing of revenue recognition for unsatisfied performance obligations can change. The future revenues associat ed with unsatisfied performance obligations exclude the value of unexercised option periods in the Company’s revenue arrangements. Often the timing of manufacturing activities changes based on customer needs and resource availability. Government funding appropriations can impact the timing of product deliveries. The success of the Company's development activities that receive development funding support from the USG under development contracts can also impact the timing of revenue recognition. Contract assets The Company considers accounts receivable and deferred costs associated with revenue generating contracts, which are not included in inventory or property, plant and equipment and the Company does not currently have a contractual right to bill, to be contract assets. As of March 31, 2022 and December 31, 2021, the Company had $42.2 million and $21.5 million, respectively, of contract assets recorded within accounts receivable, net on the condensed consolidated balance sheets. Contract liabilities When performance obligations are not transferred to a customer at the end of a reporting period, cash received associated with amounts allocated to those performance obligations is reflected as contract liabilities on the consolidated balance sheets and is deferred until control of these performance obligations is transferred to the customer. The following table presents the roll forward of the contract liability balances:
December 31, 2021 | $ | 16.4 |
Deferral of revenue | 6.4 |
Revenue recognized | (6.9) |
March 31, 2022 | $ | 15.9 |
As of March 31, 2022 and December 31, 2021, the current portion of contract liabilities was $10.0 million and $11.7 million, respectively, and was included in other current liabilities on the balance sheet. Accounts receivable Accounts receivable, including unbilled accounts receivable contract assets, consist of the following:
|  | March 31, 2022 |  | December 31, 2021
Billed, net |  | $ | 115.2 |  |  | $ | 224.9 |
Unbilled |  | 66.6 |  |  | 49.8 |
Total, net |  | $ | 181.8 |  |  | $ | 274.7 |
As of March 31, 2022 and December 31, 2021, the allowances for doubtful accounts was $0.7 million and $3.2 million, respectively.

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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