Research Collaboration and License Agreements (Tables)

3 Months Ended

Mar. 31, 2024

Research Collaboration And License Agreements [Abstract]

Schedule of Contract Balances

Changes in the Company's contract balances for the three months ended March 31, 2024 and 2023 were as follows:

(dollars in millions)	March 31, 2024		March 31, 2023
Accounts receivable related to collaborations
Beginning balance	$	—	$	1.0
Additions	—		1.5
Payments received	—		(2.5)
Ending balance	$	—	$	—
Accounts payable related to collaborations
Beginning balance	$	13.1	$	5.0
Additions	14.1		1.7
Payments made	(13.1)		(5.0)
Ending balance	$	14.1	$	1.7
Contract assets: Collaboration contract asset
Beginning balance	$	9.4	$	10.7
Additions	—		—
Amortization	(0.4)		(0.6)
Ending balance	$	9.0	$	10.1
Contract liabilities: Deferred revenue
Beginning balance	$	549.2	$	623.7
Revenue recognized from balances held at the beginning of the period	(25.3)		(31.4)
Additions to collaboration agreements	—		1.5
Ending balance	$	523.9	$	593.8

Schedule of Transaction Price Allocated to Performance Obligations

The aggregate amount of the transaction price allocated to performance obligations that were unsatisfied as of March 31, 2024 totaled $523.9 million, which is expected to be recognized in the following periods:

(dollars in millions)
Remainder of 2024	$	124.6
2025	153.4
2026	105.0
2027	57.6
2028	59.8
2029	23.5
Total	$	523.9