Revenue Recognition and Accounts Receivable (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents the Company’s net sales by therapeutic franchise for each of our reportable segments for the three and six months ended June 30, 2020 and 2019, respectively:

(In millions)	North America		Europe		Rest of World		Total
Three Months Ended June 30, 2020
Central Nervous System & Anesthesia	$	161.0	$	193.8	$	69.3	$	424.1
Infectious Disease	38.3		50.6		254.5		343.4
Respiratory & Allergy	324.9		125.8		41.5		492.2
Cardiovascular	59.8		118.2		31.3		209.3
Gastroenterology	41.8		148.2		101.9		291.9
Diabetes & Metabolism	51.5		74.5		25.9		151.9
Dermatology	24.4		64.9		17.2		106.5
Women’s Healthcare	95.5		58.8		33.2		187.5
Oncology	170.3		22.2		39.2		231.7
Immunology	9.9		27.5		8.8		46.2
Other (1)	61.6		50.5		99.1		211.2
Total	$	1,039.0	$	935.0	$	721.9	$	2,695.9
Six Months Ended June 30, 2020
Central Nervous System & Anesthesia	$	302.2	$	419.5	$	129.7	$	851.4
Infectious Disease	83.4		122.9		484.2		690.5
Respiratory & Allergy	605.5		259.2		91.2		955.9
Cardiovascular	125.9		247.1		64.5		437.5
Gastroenterology	79.2		299.4		160.9		539.5
Diabetes & Metabolism	116.6		151.6		53.4		321.6
Dermatology	54.6		142.2		36.9		233.7
Women’s Healthcare	179.9		120.1		50.9		350.9
Oncology	299.4		40.8		63.8		404.0
Immunology	19.0		53.1		17.0		89.1
Other (1)	128.8		101.0		180.2		410.0
Total	$	1,994.5	$	1,956.9	$	1,332.7	$	5,284.1

(In millions)	North America		Europe		Rest of World		Total
Three Months Ended June 30, 2019
Central Nervous System & Anesthesia	$	135.2	$	214.7	$	92.9	$	442.8
Infectious Disease	30.5		61.9		297.1		389.5
Respiratory & Allergy	258.2		121.9		56.2		436.3
Cardiovascular	48.9		131.7		40.6		221.2
Gastroenterology	30.7		159.2		102.9		292.8
Diabetes & Metabolism	83.8		81.9		37.0		202.7
Dermatology	25.5		80.3		21.0		126.8
Women’s Healthcare	90.2		60.2		24.2		174.6
Oncology	246.9		20.3		35.2		302.4
Immunology	9.0		13.8		10.9		33.7
Other (1)	64.5		43.7		87.2		195.4
Total	$	1,023.4	$	989.6	$	805.2	$	2,818.2
Six Months Ended June 30, 2019
Central Nervous System & Anesthesia	$	270.9	$	405.0	$	156.9	$	832.8
Infectious Disease	48.6		120.7		512.7		682.0
Respiratory & Allergy	496.8		229.7		99.9		826.4
Cardiovascular	95.8		232.4		74.8		403.0
Gastroenterology	64.9		287.0		180.4		532.3
Diabetes & Metabolism	234.8		139.1		76.2		450.1
Dermatology	39.4		141.9		41.4		222.7
Women’s Healthcare	169.1		104.8		39.3		313.2
Oncology	371.7		37.9		64.2		473.8
Immunology	19.1		21.0		17.3		57.4
Other (1)	135.2		165.4		184.5		485.1
Total	$	1,946.3	$	1,884.9	$	1,447.6	$	5,278.8

____________

⁽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 and six months ended June 30, 2020 and 2019, respectively:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In millions)	2020		2019		2020		2019
Gross sales	$	4,457.6	$	4,631.0	$	8,881.6	$	8,789.5
Gross to net adjustments:
Chargebacks	(795.5)		(751.6)		(1,649.9)		(1,455.3)
Rebates, promotional programs and other sales allowances	(820.4)		(874.5)		(1,666.0)		(1,730.7)
Returns	(57.6)		(75.2)		(116.6)		(121.0)
Governmental rebate programs	(88.2)		(111.5)		(165.0)		(203.7)
Total gross to net adjustments	$	(1,761.7)	$	(1,812.8)	$	(3,597.5)	$	(3,510.7)
Net sales	$	2,695.9	$	2,818.2	$	5,284.1	$	5,278.8

Schedule of Accounts Receivable, Net

Accounts receivable, net was comprised of the following at June 30, 2020 and December 31, 2019, respectively:

(In millions)	June 30, 2020		December 31, 2019
Trade receivables, net	$	2,440.8	$	2,640.1
Other receivables	312.4		418.7
Accounts receivable, net	$	2,753.2	$	3,058.8