XML 108 R26.htm IDEA: XBRL DOCUMENT v3.22.4
Other Consolidated Financial Statement Detail
 12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Consolidated Financial Statement Detail
Note 18:
Other Consolidated Financial Statement Detail
Supplemental Cash Flow Information
Supplemental disclosure of cash flow information for the years ended December 31, 2022, 2021 and 2020, is as follows:
 For the Years Ended December 31,
(In millions)202220212020
Cash paid during the year for:
Interest$262.5 $280.8 $272.7 
Income taxes932.9 247.9 906.7 
Other (Income) Expense, Net
Components of other (income) expense, net, are summarized as follows:
 For the Years Ended December 31,
(In millions)202220212020
Gain on sale of equity interest in Samsung Bioepis(1)
$(1,505.4)$— $— 
Litigation settlement agreement and settlement fees917.0 — — 
Interest income(89.3)(11.0)(42.0)
Interest expense246.6 253.6 222.5 
(Gains) losses on investments, net277.3 824.9 (685.7)
Foreign exchange (gains) losses, net35.5 22.4 10.7 
Other, net10.1 5.6 (2.9)
Total other (income) expense, net$(108.2)$1,095.5 $(497.4)
(1) Reflects the pre-tax gain, net of transaction costs, recognized from the sale of our 49.9% equity interest in Samsung Bioepis to Samsung BioLogics in April 2022. For additional information on the sale of our equity interest in Samsung Bioepis, please read Note 3, Dispositions, to these consolidated financial statements.
The (gains) losses 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.
During the second quarter of 2022 we recorded a pre-tax charge of $900.0 million, plus settlement fees and expenses, related to a litigation settlement agreement to resolve a qui tam litigation relating to conduct prior to 2015. This charge is included within other (income) expense, net in our consolidated statements of income for the year ended December 31, 2022.
The following table summarizes our (gains) losses on investments, net that relates to our equity securities held as of December 31, 2022, 2021 and 2020:
 For the Years Ended December 31,
(In millions)202220212020
Net (gains) losses recognized on equity securities$264.7 $821.1 $(693.9)
Less: Net (gains) losses realized on equity securities— (10.3)(12.1)
Unrealized (gains) losses recognized on equity securities$264.7 $831.4 $(681.8)
The net unrealized losses recognized during the year ended December 31, 2022, primarily reflect a decrease in the aggregate fair value of our investments in Denali and Sangamo common stock of approximately $278.0 million. The net unrealized losses recognized during the year ended December 31, 2021, primarily reflect decreases in the aggregate fair value of our investments in Denali, Sage, Sangamo and Ionis common stock of approximately $819.6 million.
Accrued Expense and Other
Accrued expense and other consists of the following:
 As of December 31,
(In millions)20222021
Revenue-related reserves for discounts and allowances$891.6 $802.1 
Employee compensation and benefits395.6 345.1 
Collaboration expense277.9 324.7 
Royalties and licensing fees209.4 234.7 
Other746.9 828.6 
Total accrued expense and other$2,521.4 $2,535.2 
Other long-term liabilities were $944.2 million and $1,320.5 million as of December 31, 2022 and 2021, respectively, and included accrued income taxes totaling $541.7 million and $664.5 million, respectively.