Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 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 September 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	2-21 years	$	10,552.9	$	(2,697.9)	$	7,855.0	$	8,180.2	$	(2,440.7)	$	5,739.5
Developed technology and other	13-31 years	3,548.6		(3,445.0)		103.6		3,548.6		(3,429.1)		119.5
Total completed technology		14,101.5		(6,142.9)		7,958.6		11,728.8		(5,869.8)		5,859.0
In-process research and development	Indefinite until commercialization	1,682.9		—		1,682.9		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		$	15,948.4	$	(6,142.9)	$	9,805.5	$	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 September 30, 2024
2024 (remaining three months)	$	125.0
2025	510.0
2026	550.0
2027	585.0
2028	615.0
2029	655.0

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 September 30, 2024
Goodwill, December 31, 2023	$	6,219.2
Goodwill resulting from HI-Bio acquisition	256.5
Goodwill resulting from Reata acquisition(1)	4.7
Other	5.4
Goodwill, September 30, 2024	$	6,485.8

(1) Relates to Reata measurement period adjustments recognized during the nine months ended September 30, 2024.