Shareholders' Equity

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

A summary of the changes in shareholders’ equity for the six months endedJune 30, 2016 and 2015 is as follows:

(In millions)	Total Mylan N.V. Shareholders' Equity			Noncontrolling Interest		Total
December 31, 2015	$	9,764.4		$	1.4	$	9,765.8
Net earnings	182.3			—		182.3
Other comprehensive earnings, net of tax	333.0			—		333.0
Stock option activity	6.5			—		6.5
Share-based compensation expense	51.9			—		51.9
Shares withheld for taxes on share-based compensation	(9.6		)	—		(9.6		)
Tax benefit of stock option plans	1.4			—		1.4
June 30, 2016	$	10,329.9		$	1.4	$	10,331.3

(In millions)	Total Mylan N.V. Shareholders' Equity			Noncontrolling Interest			Total
December 31, 2014	$	3,255.9		$	20.1		$	3,276.0
Net earnings	224.4			0.1			224.5
Other comprehensive loss, net of tax	(364.6		)	—			(364.6		)
Stock option activity	86.5			—			86.5
Share-based compensation expense	50.3			—			50.3
Shares withheld for taxes on share-based compensation	(36.6		)	—			(36.6		)
Tax benefit of stock option plans	48.0			—			48.0
Issuance of ordinary shares to purchase the EPD Business	6,305.8			—			6,305.8
Purchase of subsidiary shares from noncontrolling interest	—			(18.7		)	(18.7		)
Other	(1.8		)	(0.1		)	(1.9		)
June 30, 2015	$	9,567.9		$	1.4		$	9,569.3

On April 3, 2015, the Company and Stichting Preferred Shares Mylan (the “Foundation”) entered into a call option agreement (the “Call Option Agreement”). Pursuant to the terms of the Call Option Agreement, Mylan N.V. granted the Foundation a call option (the “Option”), permitting the Foundation to acquire from time-to-time Mylan N.V. preferred shares up to a maximum number equal to the total number of Mylan N.V. ordinary shares issued at such time to the extent such shares are not held by the Foundation. In response to Teva Pharmaceutical Industries Ltd.’s (“Teva”) unsolicited expression of interest to acquire Mylan on July 23, 2015, the Foundation exercised the Option and acquired 488,388,431 Mylan preferred shares pursuant to the terms of the Call Option Agreement. Each Mylan ordinary share and preferred share was entitled to one vote on each matter properly brought before a general meeting of shareholders. On July 27, 2015, Teva announced its entry into an agreement to acquire the Generic Drug Unit of Allergan plc and the withdrawal of its unsolicited, non-binding expression of interest to acquire Mylan. On September 19, 2015, the Foundation requested the redemption of the Mylan preferred shares issued. Mylan ordinary shareholders approved the redemption of the preferred shares on January 7, 2016 at an extraordinary general meeting of shareholders and on March 17, 2016, the redemption of the Mylan preferred shares became effective. The Foundation will continue to have the right to exercise the Option in the future in response to a new threat to the interests of Mylan, its businesses and its stakeholders from time to time.

With effect from February 27, 2015, the general meeting authorized the board to repurchase Company shares for a maximum period of 18 months, with such authorization expiring on August 27, 2016 (the “Share Repurchase Authorization”). More specifically, the general meeting authorized the board to repurchase the maximum number of ordinary shares allowed under Dutch law and applicable securities regulations on the NASDAQ for a period of 18 months. On June 24, 2016, at the annual general meeting, the Company’s shareholders approved an extension of the Share Repurchase Authorization, which will now expire on December 24, 2017. On July 27, 2016, the board approved the commensurate extension of the Share Repurchase Program (as defined below).

On November 16, 2015, the Company announced that its board of directors approved the repurchase of up to $1.0 billion of the Company’s ordinary shares either in the open market through privately-negotiated transactions or in one of more self tender offers (the “Share Repurchase Program”). At June 30, 2016, the Share Repurchase Program has approximately $932.5 million remaining for ordinary share repurchases. The Share Repurchase Program does not obligate the Company to acquire any particular amount of ordinary shares.