Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2022

Balance Sheet Components [Abstract]

Schedule of Cash, cash equivalents, and restricted cash

Cash and restricted cash

(In millions)	March 31, 2022		December 31, 2021		March 31, 2021
Cash and cash equivalents	$	752.4	$	701.2	$	806.9
Restricted cash, included in prepaid expenses and other current assets	5.0		5.0		6.2
Cash, cash equivalents and restricted cash	$	757.4	$	706.2	$	813.1

Inventories

Inventories

(In millions)	March 31, 2022		December 31, 2021
Raw materials	$	868.1	$	922.4
Work in process	767.5		993.3
Finished goods	2,161.7		2,062.0
Inventories	$	3,797.3	$	3,977.7

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets

(In millions)	March 31, 2022		December 31, 2021
Prepaid expenses	$	268.1	$	256.7
Available-for-sale fixed income securities	36.6		38.2
Fair value of financial instruments	202.8		144.6
Equity securities	48.0		51.0
Other current assets	1,208.1		1,467.1
Prepaid expenses and other current assets	$	1,763.6	$	1,957.6

Property, Plant and Equipment

Property, plant and equipment, net

(In millions)	March 31, 2022		December 31, 2021
Machinery and equipment	$	2,845.8	$	3,054.0
Buildings and improvements	1,578.4		1,808.5
Construction in progress	541.8		588.7
Land and improvements	126.5		137.9
Gross property, plant and equipment	5,092.5		5,589.1
Accumulated depreciation	1,942.3		2,400.5
Property, plant and equipment, net	$	3,150.2	$	3,188.6

Other Assets

Other assets

(In millions)	March 31, 2022		December 31, 2021
Operating lease right-of-use assets	$	281.7	$	290.8
Other long-term assets	774.3		879.9
Other assets	$	1,056.0	$	1,170.7

Accounts payable

Accounts payable

(In millions)	March 31, 2022		December 31, 2021
Trade accounts payable	$	928.4	$	1,056.1
Other payables	571.2		601.3
Accounts payable	$	1,499.6	$	1,657.4

Other Current Liabilities

Other current liabilities

(In millions)	March 31, 2022		December 31, 2021
Accrued sales allowances	$	1,095.8	$	1,362.1
Legal and professional accruals, including litigation accruals	694.9		715.6
Payroll and employee benefit liabilities	567.1		741.9
Contingent consideration	86.2		66.7
Accrued restructuring	171.8		233.5
Accrued interest	228.8		86.6
Equity method investments, clean energy investments	4.3		10.9
Fair value of financial instruments	98.9		61.0
Operating lease liability	89.9		86.7
Other	1,388.6		1,254.6
Other current liabilities	$	4,426.3	$	4,619.6

Other Noncurrent Liabilities

Other long-term obligations

(In millions)	March 31, 2022		December 31, 2021
Employee benefit liabilities	$	861.3	$	876.4
Contingent consideration	112.2		133.0
Tax related items, including contingencies	429.5		426.1
Operating lease liability	191.7		200.9
Accrued restructuring	51.4		64.3
Other	238.2		232.9
Other long-term obligations	$	1,884.3	$	1,933.6

Disposal Groups, Including Discontinued Operations

The amounts associated with the biosimilars portfolio classified as held for sale consisted of the following:

	As of
(In millions)	March 31, 2022
Assets held for sale
Accounts receivable, net	$	136.1
Inventories	122.4
Prepaid expenses and other current assets	12.5
Intangible assets, net	7.5
Goodwill	953.0
Other assets	105.6
Total assets held for sale	$	1,337.1
Liabilities held for sale
Accounts payable	$	95.4
Other current liabilities	182.3
Total liabilities held for sale	$	277.7