Inventory (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Components of inventory

The components of inventory are summarized as follows:

	As of December 31,
(In millions)	2023		2022
Raw materials	$	426.9	$	413.2
Work in process	1,926.8		751.9
Finished goods	255.4		200.4
Total inventory	$	2,609.1	$	1,365.5
Balance Sheet Classification:
Inventory	$	2,527.4	$	1,344.4
Investments and other assets	81.7		21.1
Total inventory	$	2,609.1	$	1,365.5

We recorded approximately $1.3 billion of acquired inventory, which includes measurement period adjustments, related to SKYCLARYS as a result of our acquisition of Reata in September 2023. For additional information on our acquisition of Reata, please read Note 2, Acquisitions, to these consolidated financial statements.