Acquisitions and Divestitures (Tables)

6 Months Ended

Jun. 30, 2016

Receptos

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The total consideration for the acquisition of Receptos is summarized as follows:

	Total Consideration
Cash paid for outstanding common stock	$	7,311.3
Cash for equity compensation attributable to pre-combination service	314.9
Total consideration	$	7,626.2

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

	Amounts Recognized as of the Acquisition Date
Working capital1	$	479.2
Property, plant and equipment	5.0
In-process research and development product rights	6,842.0
Current deferred tax assets2	241.3
Other non-current assets	7.9
Non-current deferred tax liabilities3	(2,519.2		)
Total identifiable net assets	5,056.2
Goodwill	2,570.0
Total net assets acquired	$	7,626.2

¹ Includes cash and cash equivalents, available for sale marketable securities, other current assets, accounts payable, and accrued expenses and other current liabilities.

² Following adoption of Accounting Standards Update No. 2015-17, "Balance Sheet Classification of Deferred Taxes" in the fourth quarter of 2015 all deferred tax assets and liabilities and associated valuation allowances are classified as non-current.

³ Upon integration of the acquired intangible assets into our offshore research, manufacturing, and commercial operations, the deferred tax liability was reclassified to a non-current tax liability.

Business Acquisition, Pro Forma Information

Pro Forma Financial Information:

The following table provides unaudited pro forma financial information for the three- and six-month periods ended June 30, 2015 as if the acquisition of Receptos had occurred on January 1, 2014.

	Three-Month Period Ended June 30, 2015		Six-Month Period Ended June 30, 2015
Total revenue	$	2,277.8	$	4,358.6
Net income	$	271.8	$	922.4
Net income per common share: basic	$	0.34	$	1.16
Net income per common share: diluted	$	0.33	$	1.11

Quanticel

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The fair value of consideration transferred in the acquisition of Quanticel is shown in the table below:

	Fair Value at October 19, 2015
Cash	$	95.9
Fair value of pre-existing equity ownership	11.4
Contingent consideration	166.0
Total fair value of consideration	$	273.3

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

	Fair Value at October 19, 2015 (Provisional)
Working capital1	$	7.0
Property, plant and equipment	1.9
Other non-current assets	0.8
Technology platform intangible asset2	232.0
Debt obligations	(13.9		)
Non-current deferred tax liabilities	(72.3		)
Total identifiable net assets	155.5
Goodwill	117.8
Total net assets acquired	$	273.3

¹ Includes cash and cash equivalents, available-for-sale marketable securities, other current assets, accounts payable and accrued expenses and other current liabilities.

² Technology platform related to Quanticel’s proprietary technology platform for the single-cell genomic analysis of human cancer.