Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Equity

Share Repurchases

In October 2020 our Board of Directors authorized our 2020 Share Repurchase Program, which is a program to repurchase up to $5.0 billion of our common stock. Our 2020 Share Repurchase Program does not have an expiration date. All share repurchases under our 2020 Share Repurchase Program will be retired. There were no share repurchases of our common stock during the three months ended March 31, 2023 and 2022. Approximately $2.1 billion remained available under our 2020 Share Repurchase Program as of March 31, 2023.

Accumulated Other Comprehensive Income (Loss)

The following tables summarize the changes in AOCI, net of tax by component:

	March 31, 2023
(In millions)	Unrealized Gains (Losses) on Securities Available for Sale, Net of Tax		Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax		Unrealized Gains (Losses) on Pension Benefit Obligation, Net of Tax		Currency Translation Adjustments		Total
Balance, December 31, 2022	$	(15.7)	$	15.1	$	(1.1)	$	(163.2)	$	(164.9)
Other comprehensive income (loss) before reclassifications	5.3		(20.3)		0.5		22.1		7.6
Amounts reclassified from AOCI	0.4		(15.1)		—		—		(14.7)
Net current period other comprehensive income (loss)	5.7		(35.4)		0.5		22.1		(7.1)
Balance, March 31, 2023	$	(10.0)	$	(20.3)	$	(0.6)	$	(141.1)	$	(172.0)

	March 31, 2022
(In millions)	Unrealized Gains (Losses) on Securities Available for Sale, Net of Tax		Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax		Gains (Losses) on Net Investment Hedges, Net of Tax(1)		Unrealized Gains (Losses) on Pension Benefit Obligation, Net of Tax		Currency Translation Adjustments		Total
Balance, December 31, 2021	$	(2.2)	$	53.8	$	25.5	$	(44.8)	$	(139.0)	$	(106.7)
Other comprehensive income (loss) before reclassifications	(10.2)		34.4		5.1		0.9		(21.8)		8.4
Amounts reclassified from AOCI	0.5		(18.5)		1.1		—		—		(16.9)
Net current period other comprehensive income (loss)	(9.7)		15.9		6.2		0.9		(21.8)		(8.5)
Balance, March 31, 2022	$	(11.9)	$	69.7	$	31.7	$	(43.9)	$	(160.8)	$	(115.2)

(1) Beginning in the second quarter of 2022 we no longer held net investment hedges as they were closed with the sale of our 49.9% equity interest in Samsung Bioepis in April 2022. For additional information on the sale of our equity interest in Samsung Bioepis, please read Note 2, Dispositions, to these condensed consolidated financial statements.

The following table summarizes the amounts reclassified from AOCI:

(In millions)	Amounts Reclassified from AOCI				Income Statement Location
	For the Three Months Ended March 31,
	2023		2022
Gains (losses) on securities available for sale	$	(0.5)	$	(0.6)	Other (income) expense
	0.1		0.1		Income tax (benefit) expense
Gains (losses) on cash flow hedges	17.6		20.9		Revenue
	(0.5)		(0.3)		Operating expense
	(0.1)		(0.1)		Other (income) expense
	(1.9)		(2.0)		Income tax (benefit) expense
Gains (losses) on net investment hedges(1)	—		(1.1)		Other (income) expense
Total reclassifications, net of tax	$	14.7	$	16.9

(1) Beginning in the second quarter of 2022 we no longer held net investment hedges as they were closed with the sale of our 49.9% equity interest in Samsung Bioepis in April 2022. For additional information on the sale of our equity interest in Samsung Bioepis, please read Note 2, Dispositions, to these condensed consolidated financial statements.