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PRODUCT REVENUE AND RESERVES FOR VARIABLE CONSIDERATION
6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
PRODUCT REVENUE AND RESERVES FOR VARIABLE CONSIDERATION PRODUCT REVENUE AND RESERVES FOR VARIABLE CONSIDERATION
To date, the Company’s only source of product revenue has been from the U.S. sales of Auryxia. Total net product revenue was $42.2 million and $43.3 million for the three months ended June 30, 2023 and 2022, respectively, and $77.0 million and $84.7 million for the six months ended June 30, 2023 and 2022, respectively. Product revenue allowance and reserve categories were as follows: 
(in thousands)Chargebacks
and Discounts
Rebates, Fees
and other
Deductions
Product ReturnsTotal
Balance at December 31, 2022$1,259 $30,043 $10,923 $42,225 
Current provisions related to sales in current year5,216 37,270 2,462 44,948 
Adjustments related to prior year sales(8)(473)— (481)
Credits/payments made(5,616)(41,474)(5,510)(52,600)
Balance at June 30, 2023$851 $25,366 $7,875 $34,092 
(in thousands)Chargebacks
and Discounts
Rebates, Fees
and other
Deductions
Product ReturnsTotal
Balance at December 31, 2021$1,047 $27,100 $10,065 $38,212 
Current provisions related to sales in current year4,965 42,562 2,735 50,262 
Adjustments related to prior year sales131 784 — 915 
Credits/payments made(5,236)(43,803)(2,968)(52,007)
Balance at June 30, 2022$907 $26,643 $9,832 $37,382 
 
Chargebacks, discounts and estimated product returns are recorded as a reduction of revenue in the period the related product revenue is recognized in the unaudited condensed consolidated statement of operations and comprehensive income (loss). Chargebacks are recorded as a reduction to accounts receivable while discounts, rebates, fees and other deductions are recorded with a corresponding increase to accrued expenses and other current liabilities or accounts payable on the unaudited condensed consolidated balance sheets. Estimated product returns for the period related to product sales are recorded as other long-term liabilities in the unaudited condensed consolidated balance sheet.

Accounts receivable, net related to product sales, was approximately $18.2 million and $37.3 million as of June 30, 2023 and December 31, 2022, respectively.