Equity

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Equity

Equity

Total equity as of June 30, 2016 increased $2,028.8 million compared to December 31, 2015. This increase was primarily driven by net income attributable to Biogen Inc. of $2,020.7 million and an increase in additional paid in capital related to our share-based compensation arrangements, partially offset by other comprehensive losses.

Share Repurchases

In July 2016, our Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock (2016 Share Repurchase Program). This authorization does not have an expiration date. Repurchased shares will be retired. The 2016 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, 2016 and 2015, we did not repurchase any shares of common stock under our 2011 Share Repurchase Program.

In May 2015, our Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, which was completed as of December 31, 2015. During the six months ended June 30, 2015, we repurchased and retired 0.1 million shares of common stock at a cost of $42.2 million.

Noncontrolling Interests

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

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(In millions)	2016			2015			2016			2015
NCI, beginning of period	$	1.3		$	2.7		$	2.1		$	5.0
Net income (loss) attributable to NCI, net of tax	(1.4		)	(2.5		)	(3.1		)	(4.8		)
Fair value of net assets and liabilities acquired and assigned to NCI	—			—			0.9			—
Translation adjustment and other	—			0.2			—			0.2
NCI, end of period	$	(0.1	)	$	0.4		$	(0.1	)	$	0.4