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CONSOLIDATED ENTITIES (Tables)
12 Months Ended
Dec. 31, 2020
Theravance Respiratory Company, LLC  
CONSOLIDATED ENTITIES  
Schedule of balance sheets and income statements of VIE

The summarized financial information for TRC is presented as follows:

Balance sheets

    

December 31,

(In thousands)

   

2020

   

2019

Assets

  

 

  

Cash and cash equivalents

$

38,081

$

22,339

Receivables from collaborative arrangements

 

24,946

 

14,388

Prepaid expenses and other current assets

 

 

10

Equity and other long-term investments

 

16,959

 

Total assets

 

79,986

 

36,737

Liabilities and LLC Members' Equity

 

  

 

  

Current liabilities

 

508

 

3,069

LLC members' equity

 

79,478

 

33,668

Total liabilities and LLC members' equity

$

79,986

$

36,737

Income statements

    

Year Ended December 31,

(In thousands)

   

2020

   

2019

Royalty revenue from a related party

$

73,089

$

42,790

Revenue from collaborative arrangements

 

10,000

 

Total revenue

 

83,089

 

42,790

Operating expenses

 

2,612

 

3,380

Income from operations

 

80,477

 

39,410

Other income (expense), net

 

38

 

243

Changes in fair values of equity investments

 

1,147

 

Net Income

$

81,662

$

39,653