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Other Consolidated Financial Statement Detail
 6 Months Ended
Jun. 30, 2019
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 June 30,
 
For the Six Months
Ended June 30,
(In millions)
2019
 
2018
 
2019
 
2018
Interest income
$
29.1

 
$
28.7

 
$
60.3

 
$
55.4

Interest expense
(47.7
)
 
(51.7
)
 
(95.6
)
 
(102.2
)
Gain (loss) on investments, net
(173.4
)
 
5.3

 
203.0

 
(9.1
)
Foreign exchange gains (losses), net
1.7

 
(13.0
)
 
(0.5
)
 
(14.0
)
Other, net
(7.1
)
 
(3.8
)
 
(7.3
)
 
(5.6
)
Total other income (expense), net
$
(197.4
)
 
$
(34.5
)
 
$
159.9

 
$
(75.5
)

Gain (loss) on investments, net, as reflected in the table above, relate to debt securities, equity securities of certain biotechnology companies, venture capital funds where the underlying investments are in equity securities of certain biotechnology companies and non-marketable equity securities.
The following table summarizes our gain (loss) on investments, net that relates to our equity securities held as of June 30, 2019:
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
(In millions)
2019
 
2018
 
2019
 
2018
Net gains (losses) recognized during the period on equity securities
(174.2
)
 
5.4

 
201.9

 
(1.5
)
Less: Net gains (losses) recognized during the period on equity securities sold during the period
(42.9
)
 
—

 
42.4

 
(0.5
)
Unrealized gains (losses) recognized during the period on equity securities held as of June 30, 2019
(131.3
)
 
5.4

 
159.5

 
(1.0
)

Accrued Expenses and Other
Accrued expenses and other consists of the following:
(In millions)
As of
June 30,
2019
 
As of
December 31,
2018
Revenue-related reserves for discounts and allowances
$
863.5

 
$
874.7

Royalties and licensing fees
212.8

 
224.7

Employee compensation and benefits
199.4

 
320.9

Current portion of contingent consideration obligations
146.2

 
444.8

Collaboration expenses
130.4

 
261.6

Construction in progress
38.2

 
125.2

Other
727.5

 
609.3

Total accrued expenses and other
$
2,318.0

 
$
2,861.2


Other Long-term Liabilities
Other long-term liabilities were $1,355.8 million and $1,389.4 million as of June 30, 2019 and December 31, 2018, respectively, and included accrued income taxes totaling $801.5 million and $791.4 million, respectively.