Equity

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Equity

Equity

Total equity as of June 30, 2015 increased $1,759.0 million compared to December 31, 2014. This increase was driven by net income attributable to Biogen Inc. and an increase in additional paid in capital resulting from our share-based compensation arrangements, partially offset by other comprehensive losses and a reduction in additional paid-in-capital resulting from the repurchase and retirement of common stock as described below.

Share Repurchases

In May 2015, our Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock (2015 Share Repurchase Program). This authorization does not have an expiration date. We expect that purchases will be executed within a period of up to five years and that repurchased shares will be retired. The 2015 Share Repurchase Program is in addition to the approximately 1.3 million shares remaining under our February 2011 Share Repurchase Program (2011 Share Repurchase Program), which has been used principally to offset common stock issuances under our share-based compensation plans.

During the six months ended June 30, 2015, we repurchased and retired approximately 0.1 million shares of common stock at a cost of $42.2 million under our 2015 Share Repurchase Program and did not repurchase any shares of common stock under our 2011 Share Repurchase Program. During the six months ended June 30, 2014, we purchased approximately 1.2 million shares of common stock at a cost of $336.9 million under our 2011 Share Repurchase Program.

Noncontrolling Interests

The following table reconciles equity attributable to noncontrolling interests (NCI):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(In millions)	2015			2014			2015			2014
NCI, beginning of period	$	2.7		$	4.4		$	5.0		$	0.6
Net income (loss) attributable to NCI, net of tax	(2.5		)	8.6			(4.8		)	8.4
Fair value of net assets and liabilities acquired and assigned to NCI	—			—			—			4.0
Distribution to NCI	—			(9.1		)	—			(9.1		)
Translation adjustment and other	0.2			—			0.2			—
NCI, end of period	$	0.4		$	3.9		$	0.4		$	3.9