Revenue Recognition and Accounts Receivable (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue Disaggregation

The following table presents the Company’s net sales by therapeutic franchise for each of our reportable segments for the three months ended March 31, 2019 and 2018, respectively:



(In millions)	North America		Europe		Rest of World		Total
Three Months Ended March 31, 2019
Central Nervous System & Anesthesia	$	135.7	$	190.3	$	64.0	$	390.0
Infectious Disease	18.1		58.8		215.6		292.5
Respiratory & Allergy	238.6		107.8		43.7		390.1
Cardiovascular	46.9		100.7		34.2		181.8
Gastroenterology	34.2		127.8		77.5		239.5
Diabetes & Metabolism	151.0		57.2		39.2		247.4
Dermatology	13.9		61.6		20.4		95.9
Women’s Healthcare	78.9		44.6		15.1		138.6
Oncology	124.8		17.6		29.0		171.4
Immunology	10.1		7.2		6.4		23.7
Other ⁽¹⁾	70.7		121.7		97.3		289.7
Total	$	922.9	$	895.3	$	642.4	$	2,460.6



(In millions)	North America		Europe		Rest of World		Total
Three Months Ended March 31, 2018
Central Nervous System & Anesthesia	$	199.6	$	225.4	$	82.9	$	507.9
Infectious Disease	46.4		64.5		169.0		279.9
Respiratory & Allergy	113.9		127.6		46.6		288.1
Cardiovascular	90.4		146.8		39.5		276.7
Gastroenterology	44.1		153.2		66.1		263.4
Diabetes & Metabolism	109.6		73.8		24.8		208.2
Dermatology	94.5		80.3		24.9		199.7
Women’s Healthcare	93.1		70.0		19.2		182.3
Oncology	109.3		18.8		30.9		159.0
Immunology	14.0		2.5		8.4		24.9
Other ⁽¹⁾	70.4		75.5		114.4		260.3
Total	$	985.3	$	1,038.4	$	626.7	$	2,650.4

____________


⁽¹⁾	Other consists of numerous therapeutic franchises, none of which individually exceeds 5% of consolidated net sales.

Variable Consideration and Accounts Receivable

The following table presents a reconciliation of gross sales to net sales by each significant category of variable consideration during the three months ended March 31, 2019 and 2018, respectively:



	Three Months Ended
	March 31,
(In millions)	2019			2018
Gross sales	$	4,158.5		$	4,732.3
Gross to net adjustments:
Chargebacks	(703.7		)	(872.1		)
Rebates, promotional programs and other sales allowances	(856.2		)	(1,030.6		)
Returns	(45.8		)	(77.3		)
Governmental rebate programs	(92.2		)	(101.9		)
Total gross to net adjustments	$	(1,697.9	)	$	(2,081.9	)
Net sales	$	2,460.6		$	2,650.4

No significant revisions were made to the methodology used in determining these provisions or the nature of the provisions during the three months ended March 31, 2019. Such allowances were comprised of the following at March 31, 2019 and December 31, 2018, respectively:

The following table presents the Company’s net sales by therapeutic franchise for each of our reportable segments for the three months ended March 31, 2019 and 2018, respectively:



(In millions)	North America		Europe		Rest of World		Total
Three Months Ended March 31, 2019
Central Nervous System & Anesthesia	$	135.7	$	190.3	$	64.0	$	390.0
Infectious Disease	18.1		58.8		215.6		292.5
Respiratory & Allergy	238.6		107.8		43.7		390.1
Cardiovascular	46.9		100.7		34.2		181.8
Gastroenterology	34.2		127.8		77.5		239.5
Diabetes & Metabolism	151.0		57.2		39.2		247.4
Dermatology	13.9		61.6		20.4		95.9
Women’s Healthcare	78.9		44.6		15.1		138.6
Oncology	124.8		17.6		29.0		171.4
Immunology	10.1		7.2		6.4		23.7
Other ⁽¹⁾	70.7		121.7		97.3		289.7
Total	$	922.9	$	895.3	$	642.4	$	2,460.6



(In millions)	North America		Europe		Rest of World		Total
Three Months Ended March 31, 2018
Central Nervous System & Anesthesia	$	199.6	$	225.4	$	82.9	$	507.9
Infectious Disease	46.4		64.5		169.0		279.9
Respiratory & Allergy	113.9		127.6		46.6		288.1
Cardiovascular	90.4		146.8		39.5		276.7
Gastroenterology	44.1		153.2		66.1		263.4
Diabetes & Metabolism	109.6		73.8		24.8		208.2
Dermatology	94.5		80.3		24.9		199.7
Women’s Healthcare	93.1		70.0		19.2		182.3
Oncology	109.3		18.8		30.9		159.0
Immunology	14.0		2.5		8.4		24.9
Other ⁽¹⁾	70.4		75.5		114.4		260.3
Total	$	985.3	$	1,038.4	$	626.7	$	2,650.4

____________


⁽¹⁾	Other consists of numerous therapeutic franchises, none of which individually exceeds 5% of consolidated net sales.

Schedule of Accounts Receivable, Net

Accounts receivable, net was comprised of the following at March 31, 2019 and December 31, 2018, respectively:



(In millions)	March 31, 2019		December 31, 2018
Trade receivables, net	$	2,367.4	$	2,416.5
Other receivables	411.1		464.5
Accounts receivable, net	$	2,778.5	$	2,881.0