Balance Sheet Components

Selected balance sheet components consist of the following:

Accounts receivable, net



(In millions)	December 31, 2016		December 31, 2015
Trade receivables, net	$	3,015.4	$	2,434.0
Other receivables	295.5		255.1
Accounts receivable, net	$	3,310.9	$	2,689.1

Trade receivables, net includes certain sales allowances totaling $2.05 billion and $1.84 billion at December 31, 2016 and 2015, respectively. See Note 2 Summary of Significant Accounting Policies for further discussion of such allowances. Total allowances for doubtful accounts were $59.0 million and $33.6 million at December 31, 2016 and 2015, respectively. Mylan performs ongoing credit evaluations of its customers and generally does not require collateral. Approximately 45% and 42% of the accounts receivable balances represent amounts due from three customers at December 31, 2016 and 2015, respectively.

Inventories



(In millions)	December 31, 2016		December 31, 2015
Raw materials	$	783.4	$	592.4
Work in process	436.0		387.0
Finished goods	1,237.0		971.6
Inventories	$	2,456.4	$	1,951.0

Inventory reserves totaled $174.6 million and $157.3 million at December 31, 2016 and 2015, respectively. Included as a component of cost of sales is expense related to the net realizable value of inventories of $195.7 million, $221.4 million and $182.5 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Prepaid and other current assets



(In millions)	December 31, 2016		December 31, 2015
Prepaid expenses	$	138.3	$	137.3
Restricted cash	148.1		106.6
Available-for-sale securities	83.7		54.0
Fair value of financial instruments	62.2		64.7
Momenta collaboration prepaid expenses	30.8		—
Trading securities	29.6		22.8
Other current assets	263.7		211.2
Prepaid expenses and other current assets	$	756.4	$	596.6

Prepaid expenses consists primarily of prepaid rent, insurance and other individually insignificant items. At December 31, 2016, restricted cash includes $50 million paid into escrow for contingent consideration related to the acquisition of the Topicals Business.

Property, plant and equipment, net



(In millions)	December 31, 2016		December 31, 2015
Machinery and equipment	$	2,227.9	$	1,928.4
Buildings and improvements	1,106.5		950.6
Construction in progress	328.8		290.5
Land and improvements	144.7		124.5
Gross property, plant and equipment	3,807.9		3,294.0
Accumulated depreciation	1,485.7		1,310.1
Property, plant and equipment, net	$	2,322.2	$	1,983.9

Capitalized software costs included on our Consolidated Balance Sheets were $145.4 million and $130.0 million, net of accumulated depreciation, at December 31, 2016 and 2015, respectively. The Company periodically reviews the original estimated useful lives of assets and makes adjustments when appropriate. Depreciation expense was approximately $259.4 million, $186.1 million and $172.8 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Other assets



(In millions)	December 31, 2016		December 31, 2015
Equity method investments, clean energy investments	$	320.6	$	379.3
Equity method investments, Sagent Agila	75.8		96.2
Restricted cash	—		100.0
Other long-term assets	172.2		176.0
Other assets	$	568.6	$	751.5

During the year ended December 31, 2016, restricted cash of $100 million principally related to amounts deposited in escrow for potential contingent consideration payments related to the Company’s acquisition of Agila Specialties (“Agila”) was reclassified to prepaid expenses and other current assets or released from restrictions, in conjunction with the Strides Settlement, as discussed in Note 14 Commitments.

Trade accounts payable



(In millions)	December 31, 2016		December 31, 2015
Trade accounts payable	$	939.5	$	717.5
Other payables	408.6		392.1
Trade accounts payable	$	1,348.1	$	1,109.6

Other current liabilities



(In millions)	December 31, 2016		December 31, 2015
Accrued sales allowances	$	809.0	$	681.8
Payroll and employee benefit plan accruals	409.8		367.9
Legal and professional accruals, including litigation accruals	720.4		122.6
Contingent consideration	256.9		35.0
Restructuring	138.6		14.8
Compulsory acquisition proceeding	70.2		—
Equity method investments, clean energy investments	64.7		62.3
Accrued interest	41.0		25.1
Fair value of financial instruments	15.3		19.8
Other	732.6		512.6
Other current liabilities	$	3,258.5	$	1,841.9

Included in legal and professional accruals, including litigation accruals at December 31, 2016 was $465 million for a settlement with the U.S. Department of Justice and other government agencies related to the classification of the EpiPen® Auto-Injector and EpiPen Jr® Auto-Injector (collectively, “EpiPen® Auto-Injector”) for purposes of the Medicaid Drug Rebate Program (the “Medicaid Drug Rebate Program Settlement”) and approximately $96.5 million related to the Modafinil antitrust litigation matter, as discussed further in Note 18 Litigation.

At the close of the Meda transaction, the Company recorded a current liability of approximately $431.0 million related to the purchase of the non-tendered shares of Meda pursuant to the compulsory acquisition proceeding. In conjunction with the November Offer, Meda shareholders, holding approximately 19 million of the outstanding non-tendered shares, tendered their shares to the Company and in the fourth quarter of 2016, the Company paid approximately $330.3 million for the tendered Meda shares. At December 31, 2016, the Company’s current liability associated with the compulsory acquisition proceeding was approximately $70.2 million. Included in other current liabilities at December 31, 2016 was approximately $316.9 million of accrued expenses assumed from Meda. Refer to Note 16 Restructuring for further information regarding the $138.6 million recorded related to restructuring costs at December 31, 2016.

Other long-term obligations



(In millions)	December 31, 2016		December 31, 2015
Employee benefit liabilities	$	396.7	$	118.1
Equity method investments, clean energy investments	302.3		357.0
Contingent consideration	307.7		491.4
Tax contingencies	239.3		247.2
Other	112.6		152.3
Other long-term obligations	$	1,358.6	$	1,366.0