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Revenue Recognition and Accounts Receivable
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Recognition and Accounts Receivable Revenue Recognition and Accounts Receivable
The following table presents the Company’s net sales by product category for each of our reportable segments for the years ended December 31, 2023, 2022, and 2021, respectively:
(In millions)
2023 Net Sales
Product CategoryDeveloped MarketsGreater ChinaJANZEmerging MarketsTotal
Brands5,239.0 2,152.1 782.9 1,626.5 9,800.5 
Generics4,012.9 8.3 641.6 925.1 5,587.9 
Total Viatris$9,251.9 $2,160.4 $1,424.5 $2,551.6 $15,388.4 

(In millions)
2022 Net Sales
Product CategoryDeveloped MarketsGreater ChinaJANZEmerging MarketsTotal
Brands5,160.4 2,190.7 922.6 1,615.9 9,889.6 
Generics4,608.5 10.5 709.8 999.7 6,328.5 
Total Viatris$9,768.9 $2,201.2 $1,632.4 $2,615.6 $16,218.1 
(In millions)
2021 Net Sales
Product CategoryDeveloped MarketsGreater ChinaJANZEmerging MarketsTotal
Brands5,759.2 2,207.8 1,197.1 1,677.2 10,841.3 
Generics4,669.5 5.0 830.3 1,467.5 6,972.3 
Total Viatris$10,428.7 $2,212.8 $2,027.4 $3,144.7 $17,813.6 
____________
(a)Amounts include the impact of foreign currency translations compared to the prior year period.
(b)Amounts for the years ended December 31, 2022 and 2021 include approximately $601.1 million and $607.3 million, respectively, related to the biosimilars business which was contributed to Biocon Biologics in November 2022. The Company has not recognized the results of the biosimilars business in its consolidated financial statements subsequent to November 29, 2022.
(c)As a result of the contribution of the biosimilars business to Biocon Biologics in November 2022, Complex Gx and Biosimilars, which were previously presented as a separate line item, are now included within Generics. Reclassifications were made to prior periods to conform to the current period presentation.

The following table presents net sales on a consolidated basis for select key products for the years ended December 31, 2023, 2022, and 2021, respectively:
Year Ended December 31,
(In millions)202320222021
Select Key Global Products
Lipitor ®
$1,559.3 $1,635.2 $1,663.2 
Norvasc ®732.4 775.1 824.7 
Lyrica ®556.5 623.8 728.5 
EpiPen® Auto-Injectors442.2 378.0 391.7 
Viagra ®428.8 458.9 533.8 
Celebrex ®
330.6 338.1 344.4 
Creon ®304.9 304.0 309.8 
Effexor ®
262.9 279.6 316.8 
Zoloft ®
235.7 246.2 284.3 
Xalabrands193.2 195.1 226.0 
Select Key Segment Products
Yupelri ®$220.8 $202.1 $161.9 
Dymista ®200.0 179.8 168.0 
Influvac ®192.4 225.5 299.3 
Amitiza ®157.0 167.9 201.5 
Xanax ®154.8 156.5 185.9 
____________
(a)The Company does not disclose net sales for any products considered competitively sensitive.
(b)Products disclosed may change in future periods, including as a result of seasonality, competition or new product launches.
(c)Amounts include the impact of foreign currency translations compared to the prior year period.
(d)Refer to intellectual property matters included in Note 19 Litigation for additional information regarding Yupelri® and Amitiza®.
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 years ended December 31, 2023, 2022 and 2021, respectively:
Year Ended December 31,
(In millions)202320222021
Gross sales$25,693.1 $27,662.1 $30,553.4 
Gross to net adjustments:
Chargebacks(5,457.9)(6,192.2)(5,530.1)
Rebates, promotional programs and other sales allowances(3,857.6)(4,346.2)(6,135.6)
Returns(223.2)(296.7)(384.6)
Governmental rebate programs(766.0)(608.9)(689.5)
Total gross to net adjustments$(10,304.7)$(11,444.0)$(12,739.8)
Net sales$15,388.4 $16,218.1 $17,813.6 
____________
(a)Amounts for the years ended December 31, 2022 and 2021 include the biosimilars business which was contributed to Biocon Biologics in November 2022. The Company has not recognized the results of the biosimilars business in its consolidated financial statements subsequent to November 29, 2022.

The following is a rollforward of the categories of variable consideration during 2023:
(In millions)Balance at December 31, 2022Current Provision Related to Sales Made in the Current Period
Acquisitions, Divestitures, and Other
Checks/ Credits Issued to Third Parties Effects of Foreign ExchangeBalance at December 31, 2023
Chargebacks$523.4 $5,457.9 $(8.1)$(5,443.6)$0.7 $530.3 
Rebates, promotional programs and other sales allowances1,284.2 3,857.6 20.6 (4,071.3)11.8 1,102.9 
Returns513.4 223.2 (26.2)(286.8)1.8 425.4 
Governmental rebate programs366.5 766.0 8.7 (726.3)6.4 421.3 
Total$2,687.5 $10,304.7 $(5.0)$(10,528.0)$20.7 $2,479.9 
Accruals for these provisions are presented in the consolidated financial statements as reductions in determining net revenues and as a contra asset in accounts receivable, net (if settled via credit) and other current liabilities (if paid in cash). Accounts receivable are presented net of allowances relating to these provisions, which were comprised of the following at December 31, 2023 and 2022, respectively:
(In millions)December 31,
2023		December 31,
2022
Accounts receivable, net$1,483.6 $1,798.7 
Other current liabilities996.3 888.8 
Total$2,479.9 $2,687.5 
We have not made and do not anticipate making any significant changes to the methodologies that we use to measure provisions for variable consideration; however, the balances within these reserves can fluctuate significantly through the consistent application of our methodologies. Historically, we have not recorded in any current period any material amounts related to adjustments made to prior period reserves.
Accounts receivable, net was comprised of the following at December 31, 2023 and 2022, respectively:
(In millions)December 31, 2023December 31, 2022
Trade receivables, net$2,823.8 $3,243.8 
Other receivables876.6 570.7 
Accounts receivable, net$3,700.4 $3,814.5 

Total allowances for doubtful accounts were $118.8 million and $114.7 million at December 31, 2023 and 2022, respectively. Viatris performs ongoing credit evaluations of its customers and generally does not require collateral. Approximately 28% and 23% of the accounts receivable balances represent amounts due from three customers at December 31, 2023 and 2022, respectively.
Accounts Receivable Factoring Arrangements
We have entered into accounts receivable factoring agreements with financial institutions to sell certain of our non-U.S. accounts receivable. These transactions are accounted for as sales and result in a reduction in accounts receivable because the agreements transfer effective control over and risk related to the receivables to the buyers. Our factoring agreements do not allow for recourse in the event of uncollectibility, and we do not retain any interest in the underlying accounts receivable once sold. We derecognized $30.8 million and $34.7 million of accounts receivable as of December 31, 2023 and 2022, respectively, under these factoring arrangements. Additionally, in 2023, we entered into a similar arrangement for certain European countries. As of December 31, 2023, we have assigned and derecognized approximately $415.7 million of Trade Receivables, Net which are now included in Other Receivables.