Revenue

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The following table summarizes our revenue recognized in our consolidated condensed statements of operations:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net product revenue	$	5,870.9	$	6,070.5	$	13,003.8	$	12,390.5
Collaboration and other revenue(1)	617.1		669.6		1,294.2		1,155.2
Revenue	$	6,488.0	$	6,740.1	$	14,298.0	$	13,545.7

(1) Collaboration and other revenue associated with prior period transfers of intellectual property was $34.4 million and $87.6 million during the three and six months ended June 30, 2022, respectively, and $31.0 million and $73.9 million during the three and six months ended June 30, 2021, respectively.

We recognize revenue primarily from two different types of contracts, product sales to customers (net product revenue) and collaborations and other arrangements. Revenue recognized from collaborations and other arrangements includes our share of profits from the collaboration, as well as royalties, upfront and milestone payments we receive under these types of contracts. See Note 4 for additional information related to our collaborations and other arrangements. Collaboration and other revenue disclosed above includes the revenue from the Jardiance® and Trajenta® families of products resulting from our collaboration with Boehringer Ingelheim discussed in Note 4. Substantially all of the remainder of collaboration and other revenue is related to contracts accounted for as contracts with customers.

Adjustments to Revenue

Adjustments to revenue recognized as a result of changes in estimates for our most significant United States (U.S.) sales returns, rebates, and discounts liability balances for products shipped in previous periods were less than 1 percent of U.S. revenue during each of the three and six months ended June 30, 2022 and 2021.

Contract Liabilities

Our contract liabilities result from arrangements where we have received payment in advance of performance under the contract and do not include sales returns, rebates, and discounts. Changes in contract liabilities are generally due to either receipt of additional advance payments or our performance under the contract.

The following table summarizes contract liability balances:

	June 30, 2022		December 31, 2021
Contract liabilities	$	242.1	$	262.6

During the three and six months ended June 30, 2022 and 2021, revenue recognized from contract liabilities as of the beginning of the respective year was not material. Revenue expected to be recognized in the future from contract liabilities as the related performance obligations are satisfied is not expected to be material in any one year.

Disaggregation of Revenue

The following table summarizes revenue by product for the three months ended June 30, 2022 and 2021:

	Three Months Ended June 30,
	2022						2021
	U.S.		Outside U.S.		Total		U.S.		Outside U.S.		Total
Revenue—to unaffiliated customers:
Diabetes:
Trulicity®	$	1,430.1	$	481.7	$	1,911.9	$	1,147.6	$	388.0	$	1,535.6
Jardiance(1)	250.7		210.3		461.0		194.4		162.1		356.5
Humalog® (2)	238.8		208.3		447.1		329.1		278.6		607.6
Humulin®	202.3		71.7		274.0		221.1		94.3		315.3
Basaglar®	95.8		78.4		174.2		133.4		77.3		210.7
Other diabetes	74.5		95.6		170.0		54.2		95.4		149.8
Total diabetes	2,292.2		1,146.0		3,438.2		2,079.8		1,095.7		3,175.5
Oncology:
Verzenio®	384.3		204.2		588.5		209.7		131.6		341.3
Cyramza®	92.6		138.6		231.3		101.4		167.3		268.7
Alimta®	171.7		56.1		227.7		353.5		257.1		610.6
Erbitux®	125.1		15.7		140.8		135.8		11.2		147.0
Tyvyt®	—		73.6		73.6		—		105.0		105.0
Other oncology	45.3		61.6		106.8		27.9		53.5		81.4
Total oncology	819.0		549.8		1,368.7		828.3		725.7		1,554.0
Immunology:
Taltz®	411.6		194.7		606.2		399.8		169.3		569.1
Olumiant® (3)	10.4		175.8		186.2		17.8		190.6		208.4
Other immunology	—		4.0		4.0		4.8		3.2		7.9
Total immunology	422.0		374.5		796.5		422.4		363.1		785.4
Neuroscience:
Emgality®	108.6		48.9		157.5		112.1		44.2		156.3
Zyprexa®	8.7		78.6		87.3		8.4		86.9		95.4
Cymbalta®	8.1		67.4		75.5		12.4		163.3		175.6
Other neuroscience	19.4		50.3		69.6		33.8		51.1		84.9
Total neuroscience	144.8		245.2		389.9		166.7		345.5		512.2
Other:
Cialis®	10.8		136.2		147.0		(5.2)		286.3		281.0
Forteo®	78.5		60.0		138.5		122.8		95.6		218.4
COVID-19 antibodies(4)	129.1		—		129.1		83.4		65.7		148.9
Other	38.5		41.7		80.1		6.0		58.4		64.6
Total other	256.9		237.9		494.7		207.0		506.0		712.9
Revenue	$	3,934.8	$	2,553.3	$	6,488.0	$	3,704.2	$	3,035.9	$	6,740.1

Numbers may not add due to rounding.

(1) Jardiance revenue includes Glyxambi®, Synjardy®, and Trijardy® XR.

(2) Humalog revenue includes insulin lispro.

(3) Olumiant revenue includes sales for baricitinib that were made pursuant to Emergency Use Authorization (EUA) or similar regulatory authorizations.

(4) COVID-19 antibodies include sales for bamlanivimab administered alone, for bamlanivimab and etesevimab administered together, and for bebtelovimab and were made pursuant to EUAs or similar regulatory authorizations.

The following table summarizes revenue by product for the six months ended June 30, 2022 and 2021:

	Six Months Ended June 30,
	2022						2021
	U.S.		Outside U.S.		Total		U.S.		Outside U.S.		Total
Revenue—to unaffiliated customers:
Diabetes:
Trulicity	$	2,744.1	$	909.1	$	3,653.2	$	2,264.3	$	723.7	$	2,988.1
Humalog(1)	607.7		457.6		1,065.3		661.7		562.9		1,224.6
Jardiance(2)	480.4		400.0		880.4		345.6		322.9		668.5
Humulin	392.8		154.5		547.2		440.1		196.9		637.0
Basaglar	215.1		150.6		365.7		308.6		148.7		457.3
Other diabetes	128.6		185.8		314.5		120.7		190.4		311.1
Total diabetes	4,568.7		2,257.6		6,826.3		4,141.0		2,145.5		6,286.6
Oncology:
Verzenio	685.7		372.1		1,057.9		382.5		227.8		610.3
Alimta	425.9		145.8		571.7		614.6		554.9		1,169.6
Cyramza	171.8		289.7		461.5		181.5		327.7		509.2
Erbitux	234.7		28.7		263.4		243.7		25.7		269.4
Tyvyt	—		159.0		159.0		—		214.6		214.6
Other oncology	84.6		123.7		208.2		48.5		104.7		153.2
Total oncology	1,602.7		1,119.0		2,721.7		1,470.8		1,455.4		2,926.3
Immunology:
Taltz	718.8		375.5		1,094.3		649.4		322.9		972.4
Olumiant(3)	81.7		360.1		441.8		42.5		359.7		402.2
Other immunology	—		8.5		8.5		15.2		9.6		24.7
Total immunology	800.5		744.1		1,544.6		707.1		692.2		1,399.3
Neuroscience:
Emgality	216.9		89.8		306.7		213.6		62.2		275.7
Zyprexa	18.3		162.1		180.4		15.3		175.8		191.1
Cymbalta	17.2		139.4		156.6		23.3		328.9		352.3
Other neuroscience	45.7		98.2		144.0		56.2		102.3		158.5
Total neuroscience	298.1		489.5		787.7		308.4		669.2		977.6
Other:
COVID-19 antibodies(4)	1,584.3		14.7		1,598.9		734.0		225.1		959.1
Cialis	17.7		347.0		364.7		3.4		404.4		407.8
Forteo	148.7		127.2		275.9		220.5		196.4		416.9
Other	88.5		89.6		178.2		60.2		111.9		172.1
Total other	1,839.2		578.5		2,417.7		1,018.1		937.8		1,955.9
Revenue	$	9,109.4	$	5,188.7	$	14,298.0	$	7,645.5	$	5,900.2	$	13,545.7

Numbers may not add due to rounding.

(1) Humalog revenue includes insulin lispro.

(2) Jardiance revenue includes Glyxambi, Synjardy, and Trijardy XR.

(3) Olumiant revenue includes sales for baricitinib that were made pursuant to EUA or similar regulatory authorizations.

(4) COVID-19 antibodies include sales for bamlanivimab administered alone, for bamlanivimab and etesevimab administered together, and for bebtelovimab and were made pursuant to EUAs or similar regulatory authorizations.

The following table summarizes revenue by geographical area:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Revenue—to unaffiliated customers(1):
U.S.	$	3,934.8	$	3,704.2	$	9,109.4	$	7,645.5
Europe	1,101.1		1,209.8		2,168.4		2,531.0
Japan	454.4		665.4		864.6		1,237.2
China	352.1		522.5		758.5		884.7
Other foreign countries	645.7		638.1		1,397.2		1,247.3
Revenue	$	6,488.0	$	6,740.1	$	14,298.0	$	13,545.7

Numbers may not add due to rounding.

(1) Revenue is attributed to the countries based on the location of the customer.