Other Consolidated Financial Statement Detail (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental cash flow information

Supplemental disclosure of cash flow information for the years ended December 31, 2023, 2022 and 2021, is as follows:

	For the Years Ended December 31,
(In millions)	2023		2022		2021
Cash paid during the year for:
Interest	$	252.2	$	262.5	$	280.8
Income taxes	740.7		932.9		247.9

Other income (expense), net

Components of other (income) expense, net, are summarized as follows:

	For the Years Ended December 31,
(In millions)	2023		2022		2021
Gain on sale of equity interest in Samsung Bioepis(1)	$	—	$	(1,505.4)	$	—
Litigation settlement agreement and settlement fees	—		917.0		—
Interest income	(276.5)		(89.3)		(11.0)
Interest expense	246.9		246.6		253.6
(Gains) losses on investments, net	291.2		277.3		824.9
Foreign exchange (gains) losses, net	50.4		35.5		22.4
Other, net	3.5		10.1		5.6
Total other (income) expense, net	$	315.5	$	(108.2)	$	1,095.5

(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.

Gain (loss) on investments

The following table summarizes our (gains) losses on investments, net that relates to our equity securities held as of December 31, 2023, 2022 and 2021:

	For the Years Ended December 31,
(In millions)	2023		2022		2021
Net (gains) losses recognized on equity securities	$	275.2	$	264.7	$	821.1
Less: Net (gains) losses realized on equity securities	5.2		—		(10.3)
Net unrealized (gains) losses recognized on equity securities	$	270.0	$	264.7	$	831.4

Accrued expense and other

Accrued expense and other consists of the following:

	As of December 31,
(In millions)	2023		2022
Revenue-related reserves for discounts and allowances	$	926.5	$	891.6
Employee compensation and benefits	335.1		395.6
Collaboration expense	214.6		277.9
Royalties and licensing fees	191.5		209.4
Reata acquisition-related accrued expense	117.5		—
Other	838.4		746.9
Total accrued expense and other	$	2,623.6	$	2,521.4