Balance Sheet Components

Selected balance sheet components consist of the following:



(In millions)	December 31, 2015		December 31, 2014
Inventories:
Raw materials	$	592.4	$	549.5
Work in process	387.0		298.4
Finished goods	971.6		803.5
	$	1,951.0	$	1,651.4



(In millions)	December 31, 2015		December 31, 2014
Property, plant and equipment:
Land and improvements	$	124.5	$	88.3
Buildings and improvements	950.6		826.4
Machinery and equipment	1,928.4		1,739.3
Construction in progress	290.5		301.8
	3,294.0		2,955.8
Less accumulated depreciation	1,310.1		1,170.1
	$	1,983.9	$	1,785.7



Other current liabilities:
Legal and professional accruals, including litigation accruals	$	122.6	$	81.8
Payroll and employee benefit plan accruals	367.9		282.6
Accrued sales allowances	681.8		581.3
Accrued interest	25.1		63.8
Fair value of financial instruments	19.8		52.2
Other	624.7		372.4
	$	1,841.9	$	1,434.1

Contingent consideration included in other current liabilities is $35.0 million and $20.0 million at December 31, 2015 and 2014, respectively. Contingent consideration included in other long-term obligations is $491.4 million and $450.0 million at December 31, 2015 and 2014, respectively. During the year ended December 31, 2015, the Company reclassified $15.0 million of contingent consideration from other long-term obligations to other current liabilities representing milestone payments that are expected to be paid in 2016. Included in prepaid expenses and other current assets is $106.6 million and $134.1 million of restricted cash at December 31, 2015 and 2014, respectively. An additional $100 million of restricted cash is classified as a component of other long-term assets at December 31, 2015 and 2014, principally related to amounts deposited in escrow, or restricted accounts, for potential contingent consideration payments related to the Agila acquisition.