v3.26.1
Segment Reporting
 6 Months Ended
Jul. 03, 2026
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,
2026202520262025
Revenues$628,690 $568,261 $1,239,502 $1,123,708 
Less:
Cost of goods sold20,657 19,470 40,610 38,642 
Drug discovery18,252 21,357 37,728 39,610 
Development150,522 134,159 286,237 287,376 
Selling, general, and administrative127,413 112,931 250,283 233,706 
Other segment items(1)
63,378 66,718 124,616 124,134 
Interest income(14,210)(16,789)(30,337)(35,865)
Provision for income taxes50,628 45,567 107,848 91,641 
Segment and consolidated net income$212,050 $184,848 $422,517 $344,464 
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(1) Other segment items include stock-based compensation, 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.