Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2022

Balance Sheet Components [Abstract]

Schedule of Cash, cash equivalents, and restricted cash

Cash and restricted cash

(In millions)	September 30, 2022		December 31, 2021		September 30, 2021
Cash and cash equivalents	$	646.7	$	701.2	$	756.6
Restricted cash, included in prepaid expenses and other current assets	3.7		5.0		5.1
Cash, cash equivalents and restricted cash	$	650.4	$	706.2	$	761.7

Inventories

Inventories

(In millions)	September 30, 2022		December 31, 2021
Raw materials	$	781.8	$	922.4
Work in process	824.6		993.3
Finished goods	1,774.0		2,062.0
Inventories	$	3,380.4	$	3,977.7

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets

(In millions)	September 30, 2022		December 31, 2021
Prepaid expenses	$	237.1	$	256.7
Available-for-sale fixed income securities	34.5		38.2
Fair value of financial instruments	256.8		144.6
Equity securities	39.8		51.0
Other current assets	1,132.2		1,467.1
Prepaid expenses and other current assets	$	1,700.4	$	1,957.6

Property, Plant and Equipment

Property, plant and equipment, net

(In millions)	September 30, 2022		December 31, 2021
Machinery and equipment	$	2,840.9	$	3,054.0
Buildings and improvements	1,500.5		1,808.5
Construction in progress	545.2		588.7
Land and improvements	132.0		137.9
Gross property, plant and equipment	5,018.6		5,589.1
Accumulated depreciation	1,979.6		2,400.5
Property, plant and equipment, net	$	3,039.0	$	3,188.6

Other Assets

Other assets

(In millions)	September 30, 2022		December 31, 2021
Operating lease right-of-use assets	$	264.2	$	290.8
Other long-term assets	699.7		879.9
Other assets	$	963.9	$	1,170.7

Accounts payable

Accounts payable

(In millions)	September 30, 2022		December 31, 2021
Trade accounts payable	$	791.2	$	1,056.1
Other payables	519.3		601.3
Accounts payable	$	1,310.5	$	1,657.4

Other Current Liabilities

Other current liabilities

(In millions)	September 30, 2022		December 31, 2021
Accrued sales allowances	$	837.2	$	1,362.1
Legal and professional accruals, including litigation accruals	397.4		715.6
Payroll and employee benefit liabilities	631.9		741.9
Contingent consideration	70.7		66.7
Accrued restructuring	109.1		233.5
Accrued interest	210.2		86.6
Equity method investments, clean energy investments	4.3		10.9
Fair value of financial instruments	157.3		61.0
Operating lease liability	85.2		86.7
Other	1,001.4		1,254.6
Other current liabilities	$	3,504.7	$	4,619.6

Other Noncurrent Liabilities

Other long-term obligations

(In millions)	September 30, 2022		December 31, 2021
Employee benefit liabilities	$	805.8	$	876.4
Contingent consideration	92.6		133.0
Tax related items, including contingencies	396.1		426.1
Operating lease liability	179.3		200.9
Accrued restructuring	51.0		64.3
Other	220.3		232.9
Other long-term obligations	$	1,745.1	$	1,933.6

Disposal Groups, Including Discontinued Operations

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

	As of
(In millions)	September 30, 2022
Assets held for sale
Accounts receivable, net	$	159.5
Inventories	163.2
Prepaid expenses and other current assets	27.0
Intangible assets, net	59.8
Goodwill	911.8
Other assets	105.1
Total assets held for sale	$	1,426.4
Liabilities held for sale
Accounts payable	$	131.2
Other current liabilities	202.1
Other long-term obligations	2.0
Total liabilities held for sale	$	335.3