Company: SUPN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001356576-25-000017
Chunk: 346

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 346
---
 such deposits. Generally, these deposits may be redeemed upon demand, and therefore, these bear minimal default risk.

99

Table of ContentsSupernus Pharmaceuticals, Inc.Notes to Consolidated Financial Statements (Continued)2. Summary of Significant Accounting Policies (Continued)

The following table shows the percentage of the Company's sales made to customers representing more than 10% of the Company's total gross product sales, and the percentage of the Company's accounts receivables, net from each: Percentage of Gross Product SalesPercentage of Accounts Receivable, net 20242023202220242023Customer A28 %28 %26 %40 %38 %Customer B24 %23 %28 %28 %30 %Customer C25 %25 %26 %16 %16 %Customer D13 %12 %10 %8 %7 %90 %88 %90 %92 %91 %Refer to Note 3, Disaggregated Revenues, for the concentration of net product sales. InventoriesInventories are recorded at the lower of cost or net realizable value, and include materials, labor, direct costs and indirect costs. These are valued using the first-in, first-out method. The Company periodically reviews inventory and records write-downs for any excess, expired and obsolete inventory, and for inventory that has a cost basis in excess of its expected net realizable value based on estimates of product demand, production requirements, market conditions, regulatory requirements and spoilage. The write-down to net realizable value is recorded in the period in which impairment is identified and is recorded as a component of Cost of goods sold in the consolidated statement of earnings. Property and EquipmentProperty and equipment are stated at cost. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is credited or charged to operations. Repairs and maintenance costs are expensed as incurred. Depreciation and amortization are computed using the straight-line method over the following useful lives:Computer equipment3 years - 5 yearsSoftware3 years - 5 yearsLab equipment and furniture5 years - 10 yearsLeasehold improvementsShorter of lease term or useful lifeIntangible AssetsIntangible assets consist of definite-lived intangible assets: acquired developed technology and product rights, patent defense costs, and an indefinite-lived intangible asset: acquired IPR&D. Patent defense costs are