Revenue Recognition and Accounts Receivable (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2020 and 2019, respectively:

(In millions)	North America		Europe		Rest of World		Total
Three Months Ended September 30, 2020
Central Nervous System & Anesthesia	$	181.8	$	211.5	$	81.1	$	474.4
Infectious Disease	37.3		197.2		272.6		507.1
Respiratory & Allergy	284.9		103.1		74.4		462.4
Cardiovascular	58.5		125.6		38.4		222.5
Gastroenterology	41.8		166.2		91.7		299.7
Diabetes & Metabolism	70.8		80.1		36.3		187.2
Dermatology	33.2		72.8		20.3		126.3
Women’s Healthcare	96.0		60.5		34.0		190.5
Oncology	171.4		30.4		40.0		241.8
Immunology	7.9		35.2		10.2		53.3
Other (1)	45.2		41.2		96.5		182.9
Total	$	1,028.8	$	1,123.8	$	795.5	$	2,948.1
Nine Months Ended September 30, 2020
Central Nervous System & Anesthesia	$	484.0	$	631.0	$	210.8	$	1,325.8
Infectious Disease	120.7		320.1		756.8		1,197.6
Respiratory & Allergy	890.4		362.3		165.6		1,418.3
Cardiovascular	184.4		372.7		102.9		660.0
Gastroenterology	121.0		465.6		252.6		839.2
Diabetes & Metabolism	187.4		231.7		89.7		508.8
Dermatology	87.8		215.0		57.2		360.0
Women’s Healthcare	275.9		180.6		84.9		541.4
Oncology	470.8		71.2		103.8		645.8
Immunology	26.9		88.3		27.2		142.4
Other (1)	174.0		142.2		276.7		592.9
Total	$	3,023.3	$	3,080.7	$	2,128.2	$	8,232.2

(In millions)	North America		Europe		Rest of World		Total
Three Months Ended September 30, 2019
Central Nervous System & Anesthesia	$	155.5	$	214.3	$	87.0	$	456.8
Infectious Disease	28.7		179.0		270.3		478.0
Respiratory & Allergy	308.5		98.2		66.6		473.3
Cardiovascular	63.3		126.2		41.3		230.8
Gastroenterology	30.0		147.9		95.9		273.8
Diabetes & Metabolism	91.3		68.9		34.2		194.4
Dermatology	38.2		75.8		29.3		143.3
Women’s Healthcare	100.4		60.5		26.1		187.0
Oncology	196.1		22.0		42.8		260.9
Immunology	12.3		20.3		10.3		42.9
Other (1)	64.3		32.8		89.9		187.0
Total	$	1,088.6	$	1,045.9	$	793.7	$	2,928.2
Nine Months Ended September 30, 2019
Central Nervous System & Anesthesia	$	426.4	$	619.3	$	243.9	$	1,289.6
Infectious Disease	77.3		299.7		783.0		1,160.0
Respiratory & Allergy	805.3		327.9		166.5		1,299.7
Cardiovascular	159.1		358.6		116.1		633.8
Gastroenterology	94.9		434.9		276.3		806.1
Diabetes & Metabolism	326.1		208.0		110.4		644.5
Dermatology	77.6		217.7		70.7		366.0
Women’s Healthcare	269.5		165.3		65.4		500.2
Oncology	567.8		59.9		107.0		734.7
Immunology	31.4		41.3		27.6		100.3
Other (1)	199.6		198.1		274.4		672.1
Total	$	3,035.0	$	2,930.7	$	2,241.3	$	8,207.0

____________

(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 nine months ended September 30, 2020 and 2019, respectively:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In millions)	2020		2019		2020		2019
Gross sales	$	4,986.4	$	5,051.5	$	13,868.0	$	13,841.0
Gross to net adjustments:
Chargebacks	(967.0)		(913.5)		(2,616.9)		(2,368.8)
Rebates, promotional programs and other sales allowances	(926.3)		(979.2)		(2,592.3)		(2,709.9)
Returns	(76.6)		(82.3)		(193.2)		(203.3)
Governmental rebate programs	(68.4)		(148.3)		(233.4)		(352.0)
Total gross to net adjustments	$	(2,038.3)	$	(2,123.3)	$	(5,635.8)	$	(5,634.0)
Net sales	$	2,948.1	$	2,928.2	$	8,232.2	$	8,207.0

Schedule of Accounts Receivable, Net

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

(In millions)	September 30, 2020		December 31, 2019
Trade receivables, net	$	2,587.8	$	2,640.1
Other receivables	376.3		418.7
Accounts receivable, net	$	2,964.1	$	3,058.8