v3.25.0.1
Segments of Business
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments of Business Segments of business
We operate and manage our business as one reportable and operating segment, which is the business of developing and commercializing highly differentiated therapies that have a meaningful impact on patients. Our chief operating decision maker ("CODM") is the Chief Executive Officer, who decides how to allocate resources and assesses segment performance based on net loss reported on the Consolidated Income Statements.
The table below is a summary of the segment net loss, including significant segment expenses (in millions):
Year Ended
December 31,
2024		Year Ended
December 31,
2023		Year Ended
December 31,
2022
Total revenues$258 $117 $112 
Less:
Late-stage development programs (1)
252 168 124 
Early-stage development and preclinical programs (2)
132 128 145 
Compensation and personnel costs250 223 189 
Depreciation and amortization10 8 6 
Impairment of long-lived assets20 — — 
Interest income, net(48)(39)(13)
Income tax expense1 6 1 
Other segment items (3)
89 92 89 
Partnership reimbursements(165)(162)(162)
Segment net loss and Consolidated net loss$(283)$(307)$(267)
(1) R&D expenses incurred related to a Phase 3 clinical program intended to result in registration of a new product. This includes all unallocated program-level expense not directly attributable to a specific clinical trial once a molecule enters into one or more Phase 3 clinical trials.
(2) R&D expenses incurred for activities ranging from early-stage R&D and preclinical to Phase 2 clinical trials. This includes all unallocated program-level expense not directly attributable to a specific clinical trial unless the related program has entered into one or more Phase 3 clinical trials.
(3) Other segment items includes non-allocated program costs and other G&A costs.
Total segment assets at December 31, 2024, 2023 and 2022 were $1.2 billion, $1.1 billion, and $1.3 billion, respectively.