Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Intangible asset amortization expense for the years ended December 31, 2017 through 2021 is estimated to be as follows:



(In millions)
2017	$	1,243
2018	1,206
2019	1,106
2020	1,014
2021	923

Changes in carrying amount of goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 are as follows:



(In millions)	North America			Europe			Rest of World			Total
Balance at December 31, 2014:
Goodwill	$	1,815.9		$	1,123.5		$	1,494.9		$	4,434.3
Accumulated impairment losses	(385.0		)	—			—			(385.0		)
	1,430.9			1,123.5			1,494.9			4,049.3
Acquisitions ⁽¹⁾	1,450.3			15.7			192.2			1,658.2
Reclassifications	—			10.1			(10.1		)	—
Foreign currency translation	(87.5		)	(148.8		)	(91.1		)	(327.4		)
	2,793.7			1,000.5			1,585.9			5,380.1
Balance at December 31, 2015:
Goodwill	3,178.7			1,000.5			1,585.9			5,765.1
Accumulated impairment losses	(385.0		)	—			—			(385.0		)
	2,793.7			1,000.5			1,585.9			5,380.1
Acquisitions and measurement period adjustments ⁽¹⁾	818.6			2,993.0			190.6			4,002.2
Foreign currency translation	(6.9		)	(134.4		)	(9.1		)	(150.4		)
	3,605.4			3,859.1			1,767.4			9,231.9
Balance at December 31, 2016:
Goodwill	3,990.4			3,859.1			1,767.4			9,616.9
Accumulated impairment losses	(385.0		)	—			—			(385.0		)
	$	3,605.4		$	3,859.1		$	1,767.4		$	9,231.9

Components of intangible assets

Intangible assets consist of the following components at December 31, 2016 and 2015:



(In millions)	Weighted Average Life (Years)	Original Cost		Accumulated Amortization		Net Book Value
December 31, 2016
Amortized intangible assets:
Product rights and licenses	15	$	16,968.4	$	3,585.7	$	13,382.7
Patents and technologies	20	116.6		108.5		8.1
Other⁽¹⁾	6	465.9		330.0		135.9
		17,550.9		4,024.2		13,526.7
In-process research and development		921.1		—		921.1
		$	18,472.0	$	4,024.2	$	14,447.8
December 31, 2015
Amortized intangible assets:
Product rights and licenses	11	$	8,848.6	$	2,652.7	$	6,195.9
Patents and technologies	20	116.6		103.8		12.8
Other⁽¹⁾	6	465.3		189.8		275.5
		9,430.5		2,946.3		6,484.2
In-process research and development		737.7		—		737.7
		$	10,168.2	$	2,946.3	$	7,221.9

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⁽¹⁾	Other intangibles consist principally of customer lists, contractual rights and other contracts.

Product rights and licenses by therapeutic category

Product rights and licenses are primarily comprised of the products marketed at the time of acquisition. During 2016, the Company refined its classifications for therapeutic franchises and prior year amounts have been reclassified to conform to the current year presentation. These product rights and licenses relate to numerous individual products, the net book value of which, by therapeutic franchise, is as follows:



(In millions)	December 31, 2016		December 31, 2015
Central Nervous System and Anesthesia	$	2,172.0	$	949.8
Dermatology	2,070.2		52.9
Gastroenterology	1,906.2		1,289.9
Diabetes and Metabolism	1,395.7		720.1
Cardiovascular	1,718.0		1,105.5
Respiratory and Allergy	1,691.0		209.1
Infectious Disease	490.6		368.7
Oncology	413.4		169.3
Women’s Healthcare	371.4		432.4
Immunology	284.9		322.7
Other⁽¹⁾	869.3		575.5
	$	13,382.7	$	6,195.9

Finite-lived Intangible Assets Amortization Expense [Table Text Block]

Amortization expense and intangible asset impairment charges, which are included as a component of amortization expense, which is classified primarily within cost of sales in the Consolidated Statements of Operations, for the years ended December 31, 2016, 2015 and 2014 was as follows:



	Year ended December 31,
(In millions)	2016		2015		2014
Intangible asset amortization expense	$	1,195.3	$	814.7	$	366.1
Intangible asset impairment charges	68.3		31.3		27.7
Total intangible asset amortization expense (including impairment charges)	$	1,263.6	$	846.0	$	393.8