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Other Consolidated Financial Statement Detail
 12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Consolidated Financial Statement Detail Other Consolidated Financial Statement Detail
Supplemental Cash Flow Information
Supplemental disclosure of cash flow information for the years ended December 31, 2019, 2018 and 2017, is as follows:
 
For the Years Ended December 31,
(In millions)
2019
 
2018
 
2017
Cash paid during the year for:
 
 
 
 
 
Interest
$
244.2

 
$
243.2

 
$
281.7

Income taxes
$
1,064.5

 
$
1,007.1

 
$
1,066.4


Non-cash Operating, Investing and Financing Activity
In the fourth quarter of 2018 we accrued $300.0 million upon reaching $20.0 billion in total cumulative sales of the Fumapharm Products, which was paid in the first quarter of 2019. In the fourth quarter of 2017 we accrued $600.0 million upon reaching $15.0 billion and $16.0 billion in total cumulative sales of the Fumapharm Products, which was paid in the first quarter of 2018. These amounts, net of tax benefit, were accounted for as increases to goodwill in accordance with the accounting standard applicable to business combinations when we acquired Fumapharm AG.
In connection with the construction of our large-scale biologics manufacturing facility in Solothurn, Switzerland, we accrued charges related to processing equipment and engineering services of approximately $50.0 million and $100.0 million in our consolidated balance sheets as of December 31, 2019 and 2018, respectively. For additional information on the construction of our manufacturing facility in Solothurn, Switzerland, please read Note 10, Property, Plant and Equipment, to these consolidated financial statements.
Other Income (Expense), Net
Components of other income (expense), net, are summarized as follows:
 
For the Years Ended December 31,
(In millions)
2019
 
2018
 
2017
Interest income
$
120.0

 
$
112.5

 
$
78.5

Interest expense
(187.4
)
 
(200.6
)
 
(250.8
)
Gain (loss) on investments, net
204.7

 
119.5

 
(36.3
)
Foreign exchange gains (losses), net
(7.0
)
 
(9.9
)
 
6.3

Other, net
(47.0
)
 
(10.5
)
 
(14.7
)
Total other income (expense), net
$
83.3

 
$
11.0

 
$
(217.0
)

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 December 31, 2019, 2018 and 2017:
 
For the Years Ended December 31,
(In millions)
2019
 
2018
 
2017
Net gains (losses) recognized during the period on equity securities
$
200.1

 
$
127.9

 
$
(19.8
)
Less: Net gains (losses) recognized during the period on equity securities sold during the period
$
50.0

 
$
(0.6
)
 
$
—

Unrealized gains (losses) recognized during the period on equity securities held as of December 31
$
150.1

 
$
128.5

 
$
(19.8
)

Accrued Expenses and Other
Accrued expenses and other consists of the following:
 
As of December 31,
(In millions)
2019
 
2018
Revenue-related reserves for discounts and allowances
$
1,001.1

 
$
874.7

Employee compensation and benefits
309.1

 
320.9

Collaboration expenses
281.6

 
261.6

Royalties and licensing fees
220.9

 
224.7

Current portion of contingent consideration obligations
148.4

 
444.8

Construction in progress
78.0

 
125.2

Other
726.7

 
609.3

Total accrued expenses and other
$
2,765.8

 
$
2,861.2


Other Long-term Liabilities
Other long-term liabilities were $1,348.9 million and $1,389.4 million as of December 31, 2019 and 2018, respectively, and include accrued income taxes totaling $803.3 million and $791.4 million, respectively.