Balance Sheet Components

Selected balance sheet components consist of the following:

Cash and restricted cash



(In millions)	September 30, 2018		December 31, 2017		September 30, 2017
Cash and cash equivalents	$	449.2	$	292.1	$	614.9
Restricted cash, included in prepaid expenses and other current assets	53.9		77.8		135.9
Cash, cash equivalents and restricted cash	$	503.1	$	369.9	$	750.8

Inventories



(In millions)	September 30, 2018		December 31, 2017
Raw materials	$	926.0	$	895.5
Work in process	369.5		384.7
Finished goods	1,265.1		1,262.5
Inventories	$	2,560.6	$	2,542.7

Prepaid and other current assets



(In millions)	September 30, 2018		December 31, 2017
Prepaid expenses	$	117.1	$	119.8
Restricted cash	53.9		77.8
Available-for-sale fixed income securities	25.3		31.5
Fair value of financial instruments	7.1		88.9
Equity securities	36.6		79.1
Other current assets	343.2		369.0
Prepaid expenses and other current assets	$	583.2	$	766.1

Prepaid expenses consist primarily of prepaid rent, insurance and other individually insignificant items.

Property, plant and equipment, net



(In millions)	September 30, 2018		December 31, 2017
Machinery and equipment	$	2,365.2	$	2,414.5
Buildings and improvements	1,170.4		1,191.7
Construction in progress	221.1		252.9
Land and improvements	133.8		143.1
Gross property, plant and equipment	3,890.5		4,002.2
Accumulated depreciation	1,770.9		1,663.1
Property, plant and equipment, net	$	2,119.6	$	2,339.1

Other assets



(In millions)	September 30, 2018		December 31, 2017
Equity method investments, clean energy investments	$	149.5	$	226.0
Other long-term assets	95.2		79.6
Other assets	$	244.7	$	305.6

Accounts payable



(In millions)	September 30, 2018		December 31, 2017
Trade accounts payable	$	963.7	$	976.0
Other payables	437.4		476.5
Accounts payable	$	1,401.1	$	1,452.5

Other current liabilities



(In millions)	September 30, 2018		December 31, 2017
Accrued sales allowances	$	631.9	$	818.0
Legal and professional accruals, including litigation accruals	131.4		241.1
Payroll and employee benefit liabilities	372.4		404.6
Contingent consideration	223.3		167.8
Accrued interest	193.8		42.3
Restructuring	80.9		91.5
Equity method investments, clean energy investments	38.1		56.7
Fair value of financial instruments	114.4		31.1
Other	742.2		1,111.4
Other current liabilities	$	2,528.4	$	2,964.5

In April 2018, the State of New York passed a budget which included the Opioid Stewardship Fund (the “Fund”) pursuant to a law that became effective July 1, 2018. The Fund created an aggregate $100 million annual assessment on all manufacturers and distributors licensed to sell or distribute opioids in New York. Each licensed manufacturer and distributor will be required to pay a portion of the assessment based on its ratable share, as determined by the state, of the total morphine milligram equivalents first sold or distributed within, or into, New York during the applicable calendar year. The initial payment is due on January 1, 2019 for opioids sold or distributed during calendar year 2017. Based upon initial correspondence received from the State of New York, the Company believes its amount related to the Fund for calendar year 2017 will be immaterial.

On March 31, 2017, the Company announced that Meridian Medical Technologies (“Meridian”), a Pfizer company that manufactures the EpiPen® Auto-Injector, expanded a voluntary recall of select lots of EpiPen® Auto-Injector and EpiPen Jr® Auto-Injector to include additional lots distributed in the U.S. and other markets in consultation with the U.S. Food and Drug Administration (“FDA”) (the “EpiPen® Auto-Injector Recall”). This recall was conducted as a result of the receipt of two previously disclosed reports outside of the U.S. of the failure to activate the device due to a potential defect in a supplier component. Both reports were related to the single lot that was previously recalled. The expanded voluntary recall was initiated in the U.S. and also extends to additional markets in Europe, Asia, North and South America. The Company is replacing recalled devices at no cost to the consumer. Estimated costs to Mylan related to product recalls are based on a formal campaign soliciting return of the product and are accrued when they are deemed to be probable and can be reasonably estimated. As of September 30, 2018, the Company recorded an accrual for certain costs of the recall but there can be no assurance that future costs related to the recall will not exceed amounts recorded. In addition, Meridian is contractually obligated to reimburse Mylan for costs related to the EpiPen® Auto-Injector Recall, and the Company has recorded an asset for the recovery of such costs.

Other long-term obligations



(In millions)	September 30, 2018		December 31, 2017
Employee benefit liabilities	$	411.7	$	408.2
Contingent consideration	195.5		285.9
Equity method investments, clean energy investments	151.4		171.8
Tax related items, including contingencies	155.6		237.7
Other	237.4		132.1
Other long-term obligations	$	1,151.6	$	1,235.7