Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

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

		As of June 30, 2024						As of December 31, 2023
(In millions)	Estimated Life	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology:
Acquired and in-licensed rights and patents	2-22 years	$	10,515.3	$	(2,595.9)	$	7,919.4	$	8,180.2	$	(2,440.7)	$	5,739.5
Developed technology and other	13-31 years	3,548.6		(3,439.1)		109.5		3,548.6		(3,429.1)		119.5
Total completed technology		14,063.9		(6,035.0)		8,028.9		11,728.8		(5,869.8)		5,859.0
In-process research and development	Indefinite until commercialization	40.0		—		40.0		2,340.0		—		2,340.0
Priority review voucher	Indefinite	100.0		—		100.0		100.0		—		100.0
Trademarks and trade names	Indefinite	64.0		—		64.0		64.0		—		64.0
Total intangible assets		$	14,267.9	$	(6,035.0)	$	8,232.9	$	14,232.8	$	(5,869.8)	$	8,363.0

Estimated future amortization for acquired 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 June 30, 2024
2024 (remaining six months)	$	185.0
2025	565.0
2026	660.0
2027	680.0
2028	710.0
2029	720.0

Summary of roll forward of the changes in goodwill

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

(In millions)	As of June 30, 2024
Goodwill, December 31, 2023	$	6,219.2
Goodwill resulting from Reata acquisition	9.0
Other	(0.8)
Goodwill, June 30, 2024	$	6,227.4