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Purchase commitments
12 Months Ended
Dec. 31, 2023
Purchase Obligation, Fiscal Year Maturity [Abstract]  
Purchase commitments Purchase commitments
We enter into agreements in the normal course of business with vendors for raw materials and other goods or services. Purchase commitments are agreements to purchase raw materials and services that are enforceable, legally binding, and specify terms that (1) include fixed or minimum quantities to be purchased, (2) include fixed, minimum or variable price provisions and (3) are longer than one year. Purchase commitments exclude agreements that are cancellable without penalty.
As of December 31, 2023, the Company has approximately $526.9 million of purchase commitments associated with raw materials and Bioservices that will be purchased in the next five years, of which the Company estimates that approximately $117.0 million will be purchased within the next year. For the years ended December 31, 2023, 2022, and 2021, the Company purchased $107.8 million, $199.6 million and $110.7 million, respectively, of materials and services under these commitments.