XML 110 R23.htm IDEA: XBRL DOCUMENT v3.19.3
Other Consolidated Financial Statement Detail
 9 Months Ended
Sep. 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 September 30,
 
For the Nine Months
Ended September 30,
(In millions)
2019
 
2018
 
2019
 
2018
Interest income
$
30.5

 
$
26.0

 
$
90.8

 
$
81.4

Interest expense
(45.8
)
 
(49.0
)
 
(141.4
)
 
(151.2
)
Gain (loss) on investments, net
(4.1
)
 
141.1

 
198.9

 
132.0

Foreign exchange gains (losses), net
(4.2
)
 
0.2

 
(4.7
)
 
(13.8
)
Other, net
(3.7
)
 
(3.2
)
 
(11.0
)
 
(8.8
)
Total other income (expense), net
$
(27.3
)
 
$
115.1

 
$
132.6

 
$
39.6


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 September 30, 2019:
 
For the Three Months
Ended September 30,
 
For the Nine Months
Ended September 30,
(In millions)
2019
 
2018
 
2019
 
2018
Net gains (losses) recognized during the period on equity securities
$
(4.6
)
 
$
141.2

 
$
197.3

 
$
139.7

Less: Net gains (losses) recognized during the period on equity securities sold during the period
$
4.4

 
$
—

 
$
46.8

 
$
(0.5
)
Unrealized gains (losses) recognized during the period on equity securities held as of September 30, 2019
$
(9.0
)
 
$
141.2

 
$
150.5

 
$
140.2


Accrued Expenses and Other
Accrued expenses and other consists of the following:
(In millions)
As of
September 30,
2019
 
As of
December 31,
2018
Revenue-related reserves for discounts and allowances
$
884.2

 
$
874.7

Employee compensation and benefits
259.5

 
320.9

Royalties and licensing fees
222.3

 
224.7

Collaboration expenses
188.7

 
261.6

Current portion of contingent consideration obligations
147.5

 
444.8

Construction in progress
49.5

 
125.2

Other
677.4

 
609.3

Total accrued expenses and other
$
2,429.1

 
$
2,861.2


Other Long-term Liabilities
Other long-term liabilities were $1,370.9 million and $1,389.4 million as of September 30, 2019 and December 31, 2018, respectively, and included accrued income taxes totaling $801.7 million and $791.4 million, respectively.