Company: SUPN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001356576-25-000017
Chunk: 87

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1C
Chunk 87
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 consolidated statement of earnings.

14. Composition of Other Balance Sheet Items

The following details the composition of other balance sheet items (dollars in thousands for amounts in tables):

Accounts Receivable, NetAs of December 31, 2024, and December 31, 2023, the Company recorded allowances of approximately $12.3 million and $10.7 million, respectively, for prompt pay discount and contractual service fees paid to the Company's customers. The Company's customers are primarily pharmaceutical wholesalers and distributors and specialty pharmacies. The Company accounts for these prompt pay discount and contractual service fees as reduction to gross product sales at the time of sale. See Note 2, Summary of Accounting Policies - Revenue from Product Sales. 

Inventories, netInventories consist of the following (dollars in thousands): December 31,2024December 31,2023Raw materials$11,127 $16,274 Work in process26,725 31,212 Finished goods16,441 29,922 Total$54,293 $77,408 

Table of ContentsSupernus Pharmaceuticals, Inc.Notes to Consolidated Financial Statements (Continued)14. Composition of Other Balance Sheet Items (Continued)

The Company recorded inventory write-offs of $8.9 million and $8.0 million for the years ended December 31, 2024 and 2023, respectively. The inventory write-offs are reported on the consolidated statement of earnings in Cost of goods sold.

Property and Equipment, netProperty and equipment consist of the following (dollars in thousands): December 31,2024December 31,2023Lab equipment and furniture$13,370 $13,069 Leasehold improvements14,023 14,023 Software883 883 Computer equipment1,112 960 29,388 28,935 Less accumulated depreciation and amortization(17,843)(15,405)Total$11,545 $13,530 Depreciation and amortization expense on property and equipment was approximately $2.4 million, $2.5 million, and $3.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Accounts Payable and Accrued LiabilitiesAccounts payable and accrued liabilities consist of the following (dollars in thousands): December 31,2024December 31,2023Accounts payable$4,587