v3.25.2
Segment Reporting
 6 Months Ended
Jul. 04, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
We operate in one business segment that focuses on the discovery, development and commercialization of new medicines for difficult-to-treat cancers. Our President and Chief Executive Officer, as the chief operating decision-maker, manages and allocates resources to our operations on a total consolidated basis. Consistent with this decision-making process, our President and Chief Executive Officer uses net income to monitor budget versus actual results for purposes of evaluating performance and to make decisions about the allocation of resources.
Our significant segment expenses that are regularly provided to our President and Chief Executive Officer and included in the measure of segment net income consist of consolidated expenses for our operational departments: drug discovery, development, and selling, general and administrative and other segment items.
The segment and consolidated net income, including significant segment expenses were as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Revenues$568,261 $637,178 $1,123,708 $1,062,404 
Less:
Cost of goods sold
19,470 17,667 38,642 38,923 
Drug discovery
21,357 25,096 39,610 47,586 
Development
134,159 146,234 287,376 319,121 
Selling, general, and administrative
112,931 115,839 233,706 214,602 
Other segment items(1)
66,718 56,755 124,134 137,212 
Interest income
(16,789)(17,258)(35,865)(37,152)
Provision for income taxes
45,567 66,729 91,641 78,679 
Segment and consolidated net income$184,848 $226,116 $344,464 $263,433 
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(1) Other segment items include stock-based compensation, restructuring expenses, other research and development expenses including the allocation of general corporate costs to research and development services and development cost reimbursements in connection with certain of our collaboration arrangements, and other income (expenses), net.
All of our long-lived assets are located in the U.S. See “Note 3. Revenues” for enterprise-wide disclosures about product sales, revenues from major customers and revenues by geographic region.