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Share-based Payments
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Share-based Payments
Share-based Compensation Expense
The following table summarizes share-based compensation expense included in our condensed consolidated statements of income:
 
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
(In millions)
 
2020
 
2019
 
2020
 
2019
Research and development
 
$
15.2

 
$
28.1

 
$
48.5

 
$
49.8

Selling, general and administrative
 
30.3

 
54.8

 
73.4

 
82.6

Subtotal
 
45.5

 
82.9

 
121.9

 
132.4

Capitalized share-based compensation costs
 
(1.5
)
 
(2.8
)
 
(3.0
)
 
(6.1
)
Share-based compensation expense included in total cost and expenses
 
44.0

 
80.1

 
118.9

 
126.3

Income tax effect
 
(7.0
)
 
(13.6
)
 
(20.3
)
 
(21.0
)
Share-based compensation expense included in net income attributable to Biogen Inc.
 
$
37.0

 
$
66.5

 
$
98.6

 
$
105.3


The following table summarizes share-based compensation expense associated with each of our share-based compensation programs:
 
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
(In millions)
 
2020
 
2019
 
2020
 
2019
Market stock units
 
$
7.4

 
$
7.8

 
$
26.5

 
$
15.5

Time-vested restricted stock units
 
34.5

 
31.8

 
72.0

 
66.5

Cash settled performance units
 
(0.1
)
 
0.4

 
(1.7
)
 
(0.6
)
Performance units
 
—

 
0.3

 
(0.1
)
 
0.8

Performance stock units settled in stock
 
2.1

 
12.1

 
12.4

 
14.1

Performance stock units settled in cash
 
(4.0
)
 
0.9

 
4.9

 
1.9

Employee stock purchase plan
 
5.6

 
3.4

 
7.9

 
8.0

NST stock options
 
—

 
26.2

 
—

 
26.2

Subtotal
 
45.5

 
82.9

 
121.9

 
132.4

Capitalized share-based compensation costs
 
(1.5
)
 
(2.8
)
 
(3.0
)
 
(6.1
)
Share-based compensation expense included in total cost and expenses
 
$
44.0

 
$
80.1

 
$
118.9

 
$
126.3


We estimate the fair value of our obligations associated with our performance units, cash settled performance units and performance stock units settled in cash at the end of each reporting period through expected settlement. Cumulative adjustments to these obligations are recognized each quarter to reflect changes in the stock price and estimated outcome of the performance-related conditions.