Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the nine months ended September 30, 2023 are as follows:

(In millions)	Developed Markets (1)		Greater China		JANZ		Emerging Markets (2)		Total
Balance at December 31, 2022:	7,461.5		940.6		689.0		1,334.7		10,425.8
Acquisitions	95.3		—		—		—		95.3
Reclassification to assets held for sale	(49.7)		—		—		(16.2)		(65.9)
Foreign currency translation	(128.7)		(0.9)		(36.8)		(10.7)		(177.1)
Balance at September 30, 2023:	$	7,378.4	$	939.7	$	652.2	$	1,307.8	$	10,278.1

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(1)Balances as of September 30, 2023 and December 31, 2022 include an accumulated impairment loss of $385.0 million.

(2)Balances as of September 30, 2023 and December 31, 2022 include an accumulated impairment loss of $117.0 million.

Components of Intangible Assets

Intangible assets consist of the following components at September 30, 2023 and December 31, 2022:

(In millions)	Weighted Average Life (Years)	Original Cost		Accumulated Amortization		Net Book Value
September 30, 2023
Product rights, licenses and other (1)	15	$	37,442.8	$	16,481.9	$	20,960.9
In-process research and development		319.6		—		319.6
		$	37,762.4	$	16,481.9	$	21,280.5
December 31, 2022
Product rights, licenses and other (1)	15	$	37,490.5	$	14,923.6	$	22,566.9
In-process research and development		40.2		—		40.2
		$	37,530.7	$	14,923.6	$	22,607.1

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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				Nine Months Ended
	September 30,				September 30,
(In millions)	2023		2022		2023		2022
Intangible asset amortization expense	$	584.0	$	615.9	$	1,778.5	$	1,898.1
Intangible asset disposal & impairment charges	—		—		32.0		—
Total intangible asset amortization expense (including disposal & impairment charges)	$	584.0	$	615.9	$	1,810.5	$	1,898.1

Expected Amortization Expense

Intangible asset amortization expense over the remainder of 2023 and for the years ending December 31, 2024 through 2027 is estimated to be as follows:

(In millions)
2023	$	573
2024	2,223
2025	2,149
2026	2,094
2027	1,882