Share-Based Payments (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share-based compensation expense included in condensed consolidated statements of income

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)	2023		2022		2023		2022
Research and development	$	27.9	$	22.4	$	59.2	$	48.1
Selling, general and administrative	48.4		36.7		98.5		82.8
Subtotal	76.3		59.1		157.7		130.9
Capitalized share-based compensation costs	(2.6)		(2.3)		(5.9)		(5.1)
Share-based compensation expense included in total cost and expense	73.7		56.8		151.8		125.8
Income tax effect	(13.3)		(10.2)		(28.0)		(23.0)
Share-based compensation expense included in net income attributable to Biogen Inc.	$	60.4	$	46.6	$	123.8	$	102.8

Summary of share-based compensation expense associated with each of our share-based compensating programs

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)	2023		2022		2023		2022
Market stock units	$	1.3	$	1.5	$	3.5	$	7.4
Time-vested restricted stock units	59.9		50.4		121.6		101.7
Performance stock units settled in stock	9.8		3.3		19.3		11.6
Performance stock units settled in cash	2.2		1.1		4.7		2.5
Employee stock purchase plan	2.1		2.8		6.8		7.7
Stock options(1)	1.0		—		1.8		—
Subtotal	76.3		59.1		157.7		130.9
Capitalized share-based compensation costs	(2.6)		(2.3)		(5.9)		(5.1)
Share-based compensation expense included in total cost and expense	$	73.7	$	56.8	$	151.8	$	125.8

(1) During the fourth quarter of 2022 we granted stock options. For additional information, please read Note 16, Share-Based Payments, to our consolidated financial statements included in our 2022 Form 10-K.