Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Summary of Long-Term Debt

A summary of long-term debt is as follows:

($ in millions)	Interest Rate as of December 31, 2023		December 31, 2023		December 31, 2022
Current portion of long-term debt:
2023 Senior Notes (a) *	3.125	%	—		750.6
2023 Senior Notes (b) *	4.200	%	—		499.8
2024 Euro Senior Notes ****	1.023	%	831.5		—
2024 Euro Senior Notes **	2.250	%	1,103.5		—
Other			0.4		0.7
Deferred financing fees			(0.7)		(0.6)
Current portion of long-term debt			$	1,934.7	$	1,250.5
Non-current portion of long-term debt:
2024 Euro Senior Notes **	2.250	%	—		1,069.8
2024 Euro Senior Notes ****	1.023	%	—		813.5
2025 Euro Senior Notes *	2.125	%	551.7		534.8
2025 Senior Notes ***	1.650	%	755.7		759.6
2026 Senior Notes **	3.950	%	2,245.1		2,243.2
2027 Euro Senior Notes ****	1.362	%	967.2		945.9
2027 Senior Notes ***	2.300	%	769.8		775.3
2028 Euro Senior Notes **	3.125	%	824.1		798.5
2028 Senior Notes *	4.550	%	749.1		748.9
2030 Senior Notes ***	2.700	%	1,505.0		1,512.8
2032 Euro Senior Notes ****	1.908	%	1,478.4		1,444.4
2040 Senior Notes ***	3.850	%	1,644.0		1,650.6
2043 Senior Notes *	5.400	%	497.5		497.4
2046 Senior Notes **	5.250	%	999.9		999.9
2048 Senior Notes *	5.200	%	747.8		747.8
2050 Senior Notes ***	4.000	%	2,196.3		2,200.8
YEN Term Loan Facility	Variable		283.6		305.1
Other			2.4		2.0
Deferred financing fees			(29.5)		(35.1)
Long-term debt			$	16,188.1	$	18,015.2

____________    

(a)    In the first quarter of 2020, the Company terminated interest rate swaps designated as a fair value hedge resulting in net proceeds of approximately $45 million. The fair value adjustment was amortized to interest expense over the remaining term of the notes, which were repaid at maturity in the first quarter of 2023.

(b)    The 2023 Senior Notes were repaid at maturity in the fourth quarter of 2023.

*     Instrument was issued by Mylan Inc.

**     Instrument was originally issued by Mylan N.V.; now held by Utah Acquisition Sub Inc.

***     Instrument was issued by Viatris Inc.

****     Instrument was issued by Upjohn Finance B.V.

Minimum Repayments on Outstanding Borrowings

Mandatory minimum repayments remaining on the notional amount of outstanding long-term debt at December 31, 2023 were as follows for each of the years ending December 31:

(In millions)	Total
2024	$	1,932
2025	1,302
2026	2,534
2027	1,688
2028	1,578
Thereafter	8,580
Total	$	17,614