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Other Consolidated Financial Statement Detail
 3 Months Ended
Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Consolidated Financial Statement Detail
Other Consolidated Financial Statement Detail
Other Income (Expense), Net
Components of other income (expense), net, are summarized as follows:
 
For the Three Months
Ended March 31,
(In millions)
2017
 
2016
Interest income
$
16.7

 
$
11.2

Interest expense
(63.4
)
 
(63.3
)
Gain (loss) on investments, net
2.4

 
1.6

Foreign exchange gains (losses), net
4.0

 
2.1

Other, net
2.7

 
(4.4
)
Total other income (expense), net
$
(37.6
)
 
$
(52.8
)

Other Current Assets
Other current assets include prepaid taxes totaling approximately $935.6 million and $817.0 million as of March 31, 2017 and December 31, 2016, respectively.
Accrued Expenses and Other
Accrued expenses and other consists of the following:
(In millions)
As of
March 31,
2017
 
As of
December 31,
2016
Current portion of contingent consideration obligations and milestones
$
516.8

 
$
580.8

Revenue-related reserves for discounts and allowances
505.3

 
438.6

Royalties and licensing fees
181.0

 
195.8

Employee compensation and benefits
160.5

 
282.9

Construction in progress
116.2

 
134.0

Collaboration expenses
89.8

 
130.9

Accrued TECFIDERA litigation settlement and license charges
—

 
454.8

Other
475.0

 
685.7

Total accrued expenses and other
$
2,044.6

 
$
2,903.5


Pricing of TYSABRI in Italy - AIFA
In the first quarter of 2017, we reached an agreement with the Price and Reimbursement Committee of the Italian National Medicines Agency (Agenzia Italiana del Farmaco, or AIFA) resolving all of AIFA's claims relating to sales of TYSABRI in excess of the reimbursement limit for prior periods for an aggregate repayment of approximately EUR37.4 million. As a result of this agreement we have agreed to dismiss the appeal and in the first quarter of 2017 we recognized EUR41.8 million (approximately $44.6 million) in revenues for sales which were previously deferred. These amounts were previously accrued for and included in the table above in Other.
For additional information regarding our agreement with AIFA relating to sales of TYSABRI in Italy, please read Note 18, Litigation, to these financial statements.