Other Consolidated Financial Statement Detail (Tables)

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Other income (expense), net

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

	For the Three Months Ended March 31,
(In millions)	2025		2024
Interest income	$	(23.9)	$	(17.4)
Interest expense	60.0		69.2
(Gains) losses on investments, net	35.6		30.6
Foreign exchange (gains) losses, net	(3.8)		9.4
Other, net	0.5		1.9
Total other (income) expense, net	$	68.4	$	93.7

Gain (loss) on investments in equity securities

The following table summarizes our (gains) losses on investments, net that relate to our equity securities held during the following periods:

	For the Three Months Ended March 31,
(In millions)	2025		2024
Net (gains) losses recognized on equity securities	$	35.6	$	30.6
Less: Net (gains) losses realized on equity securities	(5.4)		4.9
Net unrealized (gains) losses recognized on equity securities	$	41.0	$	25.7

Accrued expenses and other

Accrued expense and other consists of the following:

(In millions)	As of March 31, 2025		As of December 31, 2024
Revenue-related reserves for discounts and allowances	$	965.2	$	937.5
Employee compensation and benefits	192.3		375.8
Collaboration expense	233.1		309.0
Royalties and licensing fees	166.9		190.2
Current portion of contingent consideration obligations	294.3		291.2
Other	678.9		704.0
Total accrued expense and other	$	2,530.7	$	2,807.7