Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Components of share-based compensation expense

The following table summarizes the components of share-based compensation expense in the Consolidated Statements of Income for the three- and six-month periods ended June 30, 2016 and 2015:

	Three-Month Periods Ended June 30,				Six-Month Periods Ended June 30,
	2016		2015		2016		2015
Cost of goods sold (excluding amortization of acquired intangible assets)	$	8.7	$	8.1	$	17.7	$	14.8
Research and development	63.9		63.6		126.1		119.8
Selling, general and administrative	84.9		76.0		160.2		141.9
Total share-based compensation expense	157.5		147.7		304.0		276.5
Tax benefit related to share-based compensation expense	44.0		44.8		84.1		81.2
Reduction in income	$	113.5	$	102.9	$	219.9	$	195.3

Summary of activity for stock options, RSUs and PSUs

The following table summarizes the activity for stock options, RSUs and PSUs for the six-month period ended June 30, 2016 (in millions unless otherwise noted):

	Stock Options		Restricted Stock Units		Performance- Based Restricted Stock Units (in thousands)
Outstanding at December 31, 2015	75.7		7.7		334
Changes during the Year:
Granted	5.6		1.3		203
Exercised / Released	(3.7	)	(2.5	)	(72	)
Forfeited	(1.2	)	(0.2	)	(22	)
Outstanding at June 30, 2016	76.4		6.3		443

Schedule of unvested awards compensation cost not yet recognized and weighted-average periods for recognition

Total compensation cost related to unvested awards not yet recognized and the weighted-average periods over which the awards are expected to be recognized at June 30, 2016 were as follows (dollars in millions):

	Stock Options		Restricted Stock Units		Performance- Based Restricted Stock Units
Unrecognized compensation cost	$	607.1	$	338.3	$	31.3
Expected weighted-average period in years of compensation cost to be recognized	2.0		1.6		1.9