Shareholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Shareholders' Equity

NOTE 18 – SHAREHOLDERS’ EQUITY

In September 2022, the Company’s board of directors authorized a share repurchase program pursuant to which the Company may repurchase up to $500.0 million of its ordinary shares. Under the program, the Company may repurchase ordinary shares from time to time on the open market or through privately negotiated transactions or structured repurchase transactions. During the year ended December 31, 2022, the Company executed open market share repurchases of 3.9 million ordinary shares under this repurchase program for total consideration of $250.0 million. All ordinary shares repurchased were subsequently retired. The timing and amount of future repurchases, if any, will depend on a variety of factors, including the price of the Company’s ordinary shares, alternative investment opportunities, the Company’s cash resources, restrictions under the Company’s debt agreements and the transaction agreement with Amgen, corporate and regulatory requirements and market conditions. The Company expects that any future repurchases of its ordinary shares under the program would be funded with existing cash and cash equivalents.

During the year ended December 31, 2022, the Company issued an aggregate of 3.8 million ordinary shares in connection with stock option exercises, the vesting of restricted stock units and performance stock units, and employee share purchase plan purchases. The Company received a total of $55.4 million in net proceeds in connection with such issuances.

During the year ended December 31, 2022, the Company made payments of $137.2 million for employee withholding taxes relating to share-based awards.

During the year ended December 31, 2021, the Company issued an aggregate of 6.0 million ordinary shares in connection with stock option exercises, the vesting of restricted stock units and performance stock units, and employee share purchase plan purchases. The Company received a total of $73.1 million in net proceeds in connection with such issuances.

During the year ended December 31, 2021, the Company made payments of $166.0 million for employee withholding taxes relating to share-based awards.