Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets, net of accumulated amortization, impairment charges and adjustments are summarized as follows:

		As of December 31, 2023						As of December 31, 2022
(In millions)	Estimated Life	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology
Acquired and in-licensed rights and patents	2-22 years	$	8,180.2	$	(2,440.7)	$	5,739.5	$	3,866.6	$	(2,219.1)	$	1,647.5
Developed technology and other	13-31 years	3,548.6		(3,429.1)		119.5		3,548.7		(3,410.1)		138.6
Total completed technology		11,728.8		(5,869.8)		5,859.0		7,415.3		(5,629.2)		1,786.1
In-process research and development	Indefinite until commercialization	2,340.0		—		2,340.0		—		—		—
Priority review voucher	Indefinite	100.0		—		100.0		—		—		—
Trademarks and trade names	Indefinite	64.0		—		64.0		64.0		—		64.0
Total intangible assets		$	14,232.8	$	(5,869.8)	$	8,363.0	$	7,479.3	$	(5,629.2)	$	1,850.1

Estimated future amortization of intangible assets

The estimated future amortization of finite-lived intangible assets for the next five years is expected to be as follows:

(In millions)	As of December 31, 2023
2024	$	345.0
2025	470.0
2026	485.0
2027	480.0
2028	495.0

Summary of roll forward of the changes in goodwill

The following table provides a roll forward of the changes in our goodwill balance:

	As of December 31,
(In millions)	2023		2022
Goodwill, beginning of year	$	5,749.0	$	5,761.1
Goodwill resulting from Reata acquisition	464.5		—
Other	5.7		(12.1)
Goodwill, end of year	$	6,219.2	$	5,749.0