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Other Consolidated Financial Statement Detail (Tables)
 6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
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)
 
2020
 
2019
 
2020
 
2019
Interest income
 
$
7.6

 
$
29.1

 
$
32.0

 
$
60.3

Interest expense
 
(66.0
)
 
(47.7
)
 
(110.3
)
 
(95.6
)
Gain (loss) on investments, net
 
106.8

 
(173.4
)
 
29.5

 
203.0

Foreign exchange gains (losses), net
 
10.4

 
1.7

 
(8.5
)
 
(0.5
)
Other, net
 
4.2

 
(7.1
)
 
(0.2
)
 
(7.3
)
Total other income (expense), net
 
$
63.0

 
$
(197.4
)
 
$
(57.5
)
 
$
159.9
Gain (loss) on investments in equity securities
The following table summarizes our gain (loss) on investments, net that relates to our equity securities held as of June 30, 2020 and 2019:
 
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
(In millions)
 
2020
 
2019
 
2020
 
2019
Net gains (losses) recognized during the period on equity securities
 
$
102.9

 
$
(174.2
)
 
$
42.0

 
$
201.9

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

 
(42.9
)
 
—

 
42.4

Unrealized gains (losses) recognized during the period on equity securities
 
$
102.9

 
$
(131.3
)
 
$
42.0

 
$
159.5
Accrued expenses and other
Accrued expenses and other consists of the following:
(In millions)
 
As of
June 30,
2020
 
As of
December 31,
2019
Revenue-related reserves for discounts and allowances
 
$
951.3

 
$
1,001.1

Employee compensation and benefits
 
212.0

 
309.1

Royalties and licensing fees
 
203.0

 
220.9

Collaboration expenses
 
172.9

 
281.6

Current portion of contingent consideration obligations
 
149.1

 
148.4

Construction in progress
 
24.1

 
78.0

Other
 
774.1

 
726.7

Total accrued expenses and other
 
$
2,486.5

 
$
2,765.8