XML 22 R5.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Revenue from contract with customer $ 14,342.9 $ 14,202.0 $ 13,117.2
Expenses:      
Research and development 5,850.2 5,132.0 4,439.0
Acquired in-process research and development 124.1 101.0 186.1
Selling, general, and administrative 2,700.0 2,954.4 2,631.3
Other operating (income) expense, net (10.0) 53.4 (2.1)
Total expenses 10,765.0 10,211.3 9,070.1
Income from operations 3,577.9 3,990.7 4,047.1
Other income (expense):      
Other income (expense), net 1,696.6 844.4 225.2
Interest expense (43.8) (55.2) (73.0)
Total other income (expense) 1,652.8 789.2 152.2
Income before income taxes 5,230.7 4,779.9 4,199.3
Income tax expense 725.8 367.3 245.7
Net income $ 4,504.9 $ 4,412.6 $ 3,953.6
Net income per share - basic (in dollars per share) $ 43.07 $ 40.90 $ 37.05
Net income per share - diluted (in dollars per share) $ 41.48 $ 38.34 $ 34.77
Weighted average shares outstanding - basic (in shares) 104.6 107.9 106.7
Weighted average shares outstanding - diluted (in shares) 108.6 115.1 113.7
Statements of Comprehensive Income      
Net income $ 4,504.9 $ 4,412.6 $ 3,953.6
Other comprehensive income (loss), net of tax:      
Unrealized gain on debt securities 83.0 73.6 158.2
Gain (loss) on foreign currency translation 2.4 (0.6) (0.3)
Comprehensive income 4,590.3 4,485.6 4,111.5
Net product sales      
Revenues:      
Revenue from contract with customer 6,309.1 7,629.2 7,078.0
Expenses:      
Cost of goods sold and of collaboration and contract manufacturing 1,140.8 1,087.3 932.1
Collaboration revenue      
Revenues:      
Revenue from contract with customer 7,331.2 6,057.8 5,503.1
Other revenue      
Revenues:      
Revenue from contract with customer 702.6 515.0 536.1
Cost of collaboration and contract manufacturing      
Expenses:      
Cost of goods sold and of collaboration and contract manufacturing $ 959.9 $ 883.2 $ 883.7