Subsidiary Guarantors (Tables)

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Income Statement

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Three Months Ended March 31, 2019

(In millions)	Mylan N.V.			Mylan Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Net sales	$	—		$	—		$	—	$	2,460.6		$	—		$	2,460.6
Other revenues	—			—			—		34.9			—			34.9
Total revenues	—			—			—		2,495.5			—			2,495.5
Cost of sales	—			—			—		1,690.3			—			1,690.3
Gross profit	—			—			—		805.2			—			805.2
Operating expenses:
Research and development	—			—			—		172.6			—			172.6
Selling, general and administrative	9.1			138.7			—		460.1			—			607.9
Litigation settlements and other contingencies, net	—			—			—		0.7			—			0.7
Total operating expenses	9.1			138.7			—		633.4			—			781.2
(Loss) earnings from operations	(9.1		)	(138.7		)	—		171.8			—			24.0
Interest expense	81.7			43.5			—		6.0			—			131.2
Other (income) expense, net	(58.1		)	(60.1		)	—		125.5			—			7.3
(Loss) earnings before income taxes	(32.7		)	(122.1		)	—		40.3			—			(114.5		)
Income tax (benefit) provision	(5.6		)	1.8			—		(85.7		)	—			(89.5		)
Earnings of equity interest subsidiaries	2.1			102.6			—		—			(104.7		)	—
Net (loss) earnings	$	(25.0	)	$	(21.3	)	$	—	$	126.0		$	(104.7	)	$	(25.0	)

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Three Months Ended March 31, 2018

(In millions)	Mylan N.V.			Mylan Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Net sales	$	—		$	—		$	—	$	2,650.4		$	—		$	2,650.4
Other revenues	—			—			—		34.1			—			34.1
Total revenues	—			—			—		2,684.5			—			2,684.5
Cost of sales	—			—			—		1,700.2			—			1,700.2
Gross profit	—			—			—		984.3			—			984.3
Operating expenses:
Research and development	—			—			—		204.9			—			204.9
Selling, general and administrative	9.8			130.7			—		467.0			—			607.5
Litigation settlements and other contingencies, net	—			7.0			—		9.2			—			16.2
Total operating expenses	9.8			137.7			—		681.1			—			828.6
(Loss) earnings from operations	(9.8		)	(137.7		)	—		303.2			—			155.7
Interest expense	93.5			26.9			—		11.3			—			131.7
Other (income) expense, net	(114.0		)	(57.7		)	—		185.2			—			13.5
Earnings (loss) before income taxes	10.7			(106.9		)	—		106.7			—			10.5
Income tax benefit	(7.3		)	(17.7		)	—		(51.6		)	—			(76.6		)
Earnings (losses) of equity interest subsidiaries	69.1			(8.3		)	—		—			(60.8		)	—
Net earnings (loss)	$	87.1		$	(97.5	)	$	—	$	158.3		$	(60.8	)	$	87.1

Condensed Consolidating Statement of Comprehensive Earnings

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS

Three Months Ended March 31, 2019

(In millions)	Mylan N.V.			Mylan Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) earnings	$	(25.0	)	$	(21.3	)	$	—	$	126.0		$	(104.7	)	$	(25.0	)
Other comprehensive (loss) earnings, before tax:
Foreign currency translation adjustment	(338.5		)	—			—		(338.5		)	338.5			(338.5		)
Change in unrecognized gain and prior service cost related to defined benefit plans	0.2			0.1			—		0.1			(0.2		)	0.2
Net unrecognized gain on derivatives in cash flow hedging relationships	26.0			1.8			—		24.2			(26.0		)	26.0
Net unrecognized gain on derivatives in net investment hedging relationships	58.1			12.3					—			(12.3		)	58.1
Net unrealized gain on marketable securities	0.4			—			—		0.4			(0.4		)	0.4
Other comprehensive (loss) earnings, before tax	(253.8		)	14.2			—		(313.8		)	299.6			(253.8		)
Income tax provision (benefit)	11.8			(3.3		)	—		15.1			(11.8		)	11.8
Other comprehensive (loss) earnings, net of tax	(265.6		)	17.5			—		(328.9		)	311.4			(265.6		)
Comprehensive loss	$	(290.6	)	$	(3.8	)	$	—	$	(202.9	)	$	206.7		$	(290.6	)

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS

Three Months Ended March 31, 2018

(In millions)	Mylan N.V.			Mylan Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	87.1		$	(97.5	)	$	—	$	158.3		$	(60.8	)	$	87.1
Other comprehensive earnings, before tax:
Foreign currency translation adjustment	261.9			—			—		261.9			(261.9		)	261.9
Change in unrecognized (loss) gain and prior service cost related to defined benefit plans	(4.3		)	0.1			—		(4.4		)	4.3			(4.3		)
Net unrecognized (loss) gain on derivatives in cash flow hedging relationships	(32.0		)	1.9			—		(33.9		)	32.0			(32.0		)
Net unrecognized loss on derivatives in net investment hedging relationships	(59.2		)	—			—		—			—			(59.2		)
Net unrealized (loss) gain on marketable securities	(0.4		)	(0.6		)	—		0.2			0.4			(0.4		)
Other comprehensive earnings, before tax	166.0			1.4			—		223.8			(225.2		)	166.0
Income tax benefit	(11.2		)	(0.4		)	—		(10.8		)	11.2			(11.2		)
Other comprehensive earnings, net of tax	177.2			1.8			—		234.6			(236.4		)	177.2
Comprehensive earnings (loss)	$	264.3		$	(95.7	)	$	—	$	392.9		$	(297.2	)	$	264.3

Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

As of March 31, 2019

(In millions)	Mylan N.V.		Mylan Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Assets
Current assets:
Cash and cash equivalents	$	—	$	—	$	—	$	229.8	$	—		$	229.8
Accounts receivable, net	—		13.1		—		2,765.4		—			2,778.5
Inventories	—		—		—		2,708.8		—			2,708.8
Intercompany receivables	324.4		516.4		—		12,694.6		(13,535.4		)	—
Prepaid expenses and other current assets	5.8		107.5		—		431.9		—			545.2
Total current assets	330.2		637.0		—		18,830.5		(13,535.4		)	6,262.3
Property, plant and equipment, net	—		252.5		—		1,898.9		—			2,151.4
Investments in subsidiaries	18,692.3		13,208.9		—		—		(31,901.2		)	—
Intercompany notes and interest receivable	6,224.4		10,847.6		—		3,038.5		(20,110.5		)	—
Intangible assets, net	—		—		—		12,955.5		—			12,955.5
Goodwill	—		17.1		—		9,590.8		—			9,607.9
Other assets	0.2		93.3		—		836.0		—			929.5
Total assets	$	25,247.1	$	25,056.4	$	—	$	47,150.2	$	(65,547.1	)	$	31,906.6
LIABILITIES AND EQUITY
Liabilities
Current liabilities:
Accounts payable	$	—	$	42.6	$	—	$	1,273.9	$	—		$	1,316.5
Short-term borrowings	—		—		—		0.4		—			0.4
Income taxes payable	—		—		—		23.2		—			23.2
Current portion of long-term debt and other long-term obligations	649.4		0.2		—		53.9		—			703.5
Intercompany payables	1,545.7		11,988.3		—		1.4		(13,535.4		)	—
Other current liabilities	95.0		215.8		—		1,803.2		—			2,114.0
Total current liabilities	2,290.1		12,246.9		—		3,156.0		(13,535.4		)	4,157.6
Long-term debt	9,299.5		3,782.5		—		4.9		—			13,086.9
Intercompany notes payable	1,765.9		3,687.9		—		14,656.7		(20,110.5		)	—
Other long-term obligations	—		75.9		—		2,694.6		—			2,770.5
Total liabilities	13,355.5		19,793.2		—		20,512.2		(33,645.9		)	20,015.0
Total equity	11,891.6		5,263.2		—		26,638.0		(31,901.2		)	11,891.6
Total liabilities and equity	$	25,247.1	$	25,056.4	$	—	$	47,150.2	$	(65,547.1	)	$	31,906.6

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2018

(In millions)	Mylan N.V.		Mylan Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Assets
Current assets:
Cash and cash equivalents	$	—	$	18.2	$	—	$	369.9	$	—		$	388.1
Accounts receivable, net	—		24.3		—		2,856.7		—			2,881.0
Inventories	—		—		—		2,580.2		—			2,580.2
Intercompany receivables	342.9		518.7		—		13,107.1		(13,968.7		)	—
Prepaid expenses and other current assets	5.6		71.3		—		441.5		—			518.4
Total current assets	348.5		632.5		—		19,355.4		(13,968.7		)	6,367.7
Property, plant and equipment, net	—		259.7		—		1,910.5		—			2,170.2
Investments in subsidiaries	18,995.9		13,129.5		—		—		(32,125.4		)	—
Intercompany notes and interest receivable	6,287.4		10,732.6		—		2,519.8		(19,539.8		)	—
Intangible assets, net	—		—		—		13,664.6		—			13,664.6
Goodwill	—		17.1		—		9,730.7		—			9,747.8
Other assets	0.3		68.9		—		715.4		—			784.6
Total assets	$	25,632.1	$	24,840.3	$	—	$	47,896.4	$	(65,633.9	)	$	32,734.9
LIABILITIES AND EQUITY
Liabilities
Current liabilities:
Accounts payable	$	—	$	70.6	$	—	$	1,546.4	$	—		$	1,617.0
Short-term borrowings	—		—		—		1.9		—			1.9
Income taxes payable	—		—		—		121.5		—			121.5
Current portion of long-term debt and other long-term obligations	649.0		0.2		—		50.6		—			699.8
Intercompany payables	1,618.8		12,326.4		—		23.5		(13,968.7		)	—
Other current liabilities	21.0		216.0		—		1,910.6		—			2,147.6
Total current liabilities	2,288.8		12,613.2		—		3,654.5		(13,968.7		)	4,587.8
Long-term debt	9,370.1		3,786.2		—		4.9		—			13,161.2
Intercompany notes payable	1,806.1		3,094.2		—		14,639.5		(19,539.8		)	—
Other long-term obligations	—		48.6		—		2,770.2		—			2,818.8
Total liabilities	13,465.0		19,542.2		—		21,069.1		(33,508.5		)	20,567.8
Total equity	12,167.1		5,298.1		—		26,827.3		(32,125.4		)	12,167.1
Total liabilities and equity	$	25,632.1	$	24,840.3	$	—	$	47,896.4	$	(65,633.9	)	$	32,734.9

Condensed Consolidating Statement of Cash Flows

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2019

(In millions)	Mylan N.V.			Mylan Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net cash (used in) provided by operating activities	$	(47.5	)	$	(437.5	)	$	—	$	445.3		$	—		$	(39.7	)
Cash flows from investing activities:
Capital expenditures	—			(11.2		)	—		(41.9		)	—			(53.1		)
Purchase of available for sale securities and other investments	—			—			—		(7.8		)	—			(7.8		)
Proceeds from the sale of assets	—			—			—		0.2			—			0.2
Proceeds from the sale of marketable securities	—			—			—		7.6			—			7.6
Cash paid for acquisitions, net	—			—			—		(7.1		)	—			(7.1		)
Investments in affiliates	—			(5.7		)	—		—			5.7			—
Dividends from affiliates	3.9			—			—		—			(3.9		)	—
Loans to affiliates	(79.0		)	—			—		(701.4		)	780.4			—
Repayments of loans from affiliates	147.0			—			—		289.2			(436.2		)	—
Payments for product rights and other, net	—			—			—		(15.4		)	—			(15.4		)
Net cash provided by (used in) investing activities	71.9			(16.9		)	—		(476.6		)	346.0			(75.6		)
Cash flows from financing activities:
Payments of financing fees	(0.1		)	(1.1		)	—		—			—			(1.2		)
Change in short-term borrowings, net	—			—			—		(1.5		)	—			(1.5		)
Proceeds from issuance of long-term debt	—			—			—		0.1			—			0.1
Payments of long-term debt	—			—			—		(0.2		)	—			(0.2		)
Proceeds from exercise of stock options	2.4			—			—		—			—			2.4
Taxes paid related to net share settlement of equity awards	(7.1		)	—			—		—			—			(7.1		)
Contingent consideration payments	—			—			—		(31.8		)	—			(31.8		)
Capital contribution from affiliates	—			—			—		5.7			(5.7		)	—
Capital payments to affiliates	—			—			—		(3.9		)	3.9			—
Payments on borrowings from affiliates	(42.3		)	(253.4		)	—		(140.5		)	436.2			—
Proceeds from borrowings from affiliates	22.7			690.7			—		67.0			(780.4		)	—
Other items, net	—			—			—		(0.8		)	—			(0.8		)
Net cash (used in) provided by financing activities	(24.4		)	436.2			—		(105.9		)	(346.0		)	(40.1		)
Effect on cash of changes in exchange rates	—			—			—		(3.0		)	—			(3.0		)
Net decrease in cash, cash equivalents and restricted cash	—			(18.2		)	—		(140.2		)	—			(158.4		)
Cash, cash equivalents and restricted cash — beginning of period	—			18.2			—		371.1			—			389.3
Cash, cash equivalents and restricted cash — end of period	$	—		$	—		$	—	$	230.9		$	—		$	230.9

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2018

(In millions)	Mylan N.V.			Mylan Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net cash (used in) provided by operating activities	$	(28.1	)	$	(128.3	)	$	—	$	778.2		$	—		$	621.8
Cash flows from investing activities:
Capital expenditures	—			(5.8		)	—		(24.9		)	—			(30.7		)
Purchase of available for sale securities and other investments	—			—			—		(7.5		)	—			(7.5		)
Proceeds from the sale of marketable securities	—			—			—		15.0			—			15.0
Cash paid for acquisitions, net	—			—			—		(63.3		)	—			(63.3		)
Investments in affiliates	—			(6.0		)	—		—			6.0			—
Dividends from affiliates	56.9			—			—		—			(56.9		)	—
Loans to affiliates	(409.2		)	—			—		(1,316.6		)	1,725.8			—
Repayments of loans from affiliates	425.7			—			—		677.4			(1,103.1		)	—
Payments for product rights and other, net	—			(0.1		)	—		(342.3		)	—			(342.4		)
Net cash provided by (used in) investing activities	73.4			(11.9		)	—		(1,062.2		)	571.8			(428.9		)
Cash flows from financing activities:
Payments of financing fees	—			(0.4		)	—		—			—			(0.4		)
Purchase of ordinary shares	(432.0		)	—			—		—			—			(432.0		)
Change in short-term borrowings, net	—			—			—		309.1			—			309.1
Proceeds from issuance of long-term debt	496.5			—			—		1.9			—			498.4
Payments of long-term debt	(496.5		)	—			—		(1.5		)	—			(498.0		)
Proceeds from exercise of stock options	10.8			—			—		—			—			10.8
Taxes paid related to net share settlement of equity awards	(8.9		)	—			—		—			—			(8.9		)
Contingent consideration payments	—			—			—		(0.2		)	—			(0.2		)
Capital contribution from affiliates	—			—			—		6.0			(6.0		)	—
Capital payments to affiliates	—			—			—		(56.9		)	56.9			—
Payments on borrowings from affiliates	—			(837.4		)	—		(265.7		)	1,103.1			—
Proceeds from borrowings from affiliates	384.8			978.6			—		362.4			(1,725.8		)	—
Other items, net	—			—			—		(0.2		)	—			(0.2		)
Net cash (used in) provided by financing activities	(45.3		)	140.8			—		354.9			(571.8		)	(121.4		)
Effect on cash of changes in exchange rates	—			—			—		3.7			—			3.7
Net increase in cash, cash equivalents and restricted cash	—			0.6			—		74.6			—			75.2
Cash, cash equivalents and restricted cash — beginning of period	—			23.8			—		346.1			—			369.9
Cash, cash equivalents and restricted cash — end of period	$	—		$	24.4		$	—	$	420.7		$	—		$	445.1

Schedule of Cash, cash equivalents, and restricted cash [Table Text Block]

Cash and restricted cash

(In millions)	March 31, 2019		December 31, 2018
Cash and cash equivalents	$	229.8	$	388.1
Restricted cash, included in prepaid expenses and other current assets	1.1		1.2
Cash, cash equivalents and restricted cash	$	230.9	$	389.3

The following tables provide a reconciliation of cash and cash equivalents, as reported on our unaudited condensed consolidating balance sheets, to cash, cash equivalents and restricted cash, as reported on our unaudited condensed consolidating statements of cash flows (in millions):

	March 31, 2019
	Mylan N.V.		Mylan Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Cash and cash equivalents	$	—	$	—	$	—	$	229.8	$	—	$	229.8
Restricted cash, included in prepaid expenses and other current assets	—		—		—		1.1		—		1.1
Cash, cash equivalents and restricted cash	$	—	$	—	$	—	$	230.9	$	—	$	230.9

	December 31, 2018
	Mylan N.V.		Mylan Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Cash and cash equivalents	$	—	$	18.2	$	—	$	369.9	$	—	$	388.1
Restricted cash, included in prepaid expenses and other current assets	—		—		—		1.2		—		1.2
Cash, cash equivalents and restricted cash	$	—	$	18.2	$	—	$	371.1	$	—	$	389.3