Research Collaboration and License Agreements (Tables)

9 Months Ended

Sep. 30, 2024

Research Collaboration And License Agreements [Abstract]

Schedule of Contract Balances

Changes in the Company's contract balances for the nine months ended September 30, 2024 and 2023 were as follows:

(dollars in millions)	September 30, 2024		September 30, 2023
Accounts receivable related to collaborations
Beginning balance	$	—	$	1.0
Additions	8.7		21.7
Payments received	(1.4)		(7.0)
Ending balance	$	7.3	$	15.7
Accounts payable related to collaborations
Beginning balance	$	13.1	$	5.0
Additions	43.5		31.0
Payments made	(42.3)		(6.7)
Ending balance	$	14.3	$	29.3
Contract assets: Collaboration contract asset
Beginning balance	$	9.4	$	10.7
Additions	3.0		—
Amortization	(3.6)		(2.0)
Ending balance	$	8.8	$	8.7
Contract liabilities: Deferred revenue
Beginning balance	$	549.2	$	623.7
Additions to collaboration agreements	130.0		1.5
Revenue recognized from balances held at the beginning of the period	(82.0)		(119.1)
Revenue recognized from new collaborations	(93.5)		—
Ending balance	$	503.7	$	506.1

Schedule of Transaction Price Allocated to Performance Obligations

The aggregate amount of the transaction price allocated to performance obligations that were unsatisfied as of September 30, 2024 totaled $503.7 million, which is expected to be recognized in the following periods:

(dollars in millions)
Remainder of 2024	$	84.1
2025	153.4
2026	105.0
2027	57.6
2028	59.8
2029	43.8
Total	$	503.7