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Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the six months ended June 30, 2020 are as follows:


(In millions)	North America Segment		Europe Segment		Rest of World Segment		Total
Balance at December 31, 2019:
Goodwill	$	3,708.4	$	4,548.6	$	1,718.6	$	9,975.6
Accumulated impairment losses	(385.0)		—		—		(385.0)
	3,323.4		4,548.6		1,718.6		9,590.6
Foreign currency translation	(39.0)		4.6		(32.9)		(67.3)
	$	3,284.4	$	4,553.2	$	1,685.7	$	9,523.3
Balance at June 30, 2020:
Goodwill	$	3,669.4	$	4,553.2	$	1,685.7	$	9,908.3
Accumulated impairment losses	(385.0)		—		—		(385.0)
	$	3,284.4	$	4,553.2	$	1,685.7	$	9,523.3

Components of Intangible Assets

Intangible assets consist of the following components at June 30, 2020 and December 31, 2019:


(In millions)	Weighted Average Life (Years)	Original Cost		Accumulated Amortization		Net Book Value
June 30, 2020
Product rights, licenses and other ⁽¹⁾	15	$	20,088.2	$	9,247.3	$	10,840.9
In-process research and development		115.0		—		115.0
		$	20,203.2	$	9,247.3	$	10,955.9
December 31, 2019
Product rights, licenses and other ⁽¹⁾	15	$	20,109.1	$	8,579.5	$	11,529.6
In-process research and development		120.3		—		120.3
		$	20,229.4	$	8,579.5	$	11,649.9

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(1)Represents amortizable intangible assets. Other intangible assets consists principally of customer lists and contractual rights.

Finite-lived Intangible Assets Amortization Expense


	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2020		2019		2020		2019
Intangible asset amortization expense	$	351.6	$	399.2	$	702.8	$	804.7
IPR&D intangible asset impairment charges	—		—		—		29.5
Finite-lived intangible asset impairment charges	—		40.4		—		40.4
Total intangible asset amortization expense (including impairment charges)	$	351.6	$	439.6	$	702.8	$	874.6

Expected Amortization Expense

Intangible asset amortization expense over the remainder of 2020 and for the years ended December 31, 2021 through 2024 is estimated to be as follows (excludes the potential impact of the Combination):


(In millions)
2020	$	718
2021	1,358
2022	1,289
2023	1,126
2024	1,015