XML 69 R26.htm IDEA: XBRL DOCUMENT v3.25.4
Other Consolidated Financial Statement Detail
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Consolidated Financial Statement Detail
Note 18:
Other Consolidated Financial Statement Detail
Supplemental Cash Flow Information
Supplemental disclosure of cash flow information is summarized as follows:
 For the Years Ended December 31,
(In millions)202520242023
Cash paid during the year for:
Interest$264.1 $245.4 $252.2 
Income taxes864.0 355.1 740.7 
Other (Income) Expense, Net
Components of other (income) expense, net, are summarized as follows:
 For the Years Ended December 31,
(In millions)202520242023
Interest income$(125.0)$(67.6)$(276.5)
Interest expense267.5 250.3 246.9 
(Gains) losses on investments, net19.7 100.4 291.2 
Litigation related expense139.5 26.3 3.9 
Foreign exchange (gains) losses, net28.6 30.9 50.4 
Other, net(24.7)3.3 (0.4)
Total other (income) expense, net$305.6 $343.6 $315.5 
The (gains) losses on investments, net, as reflected in the table above, relate to debt securities, equity securities of certain biotechnology companies, venture capital funds where the underlying investments are in equity securities of certain biotechnology companies and non-marketable equity securities.
In 2025 we recorded $139.5 million related to various litigation matters, including our agreement in principle to resolve all claims relating to Biogen's acquisition of Convergence. For additional information on our legal matters, please read Note 21, Litigation, to these consolidated financial statements.
The following table summarizes our (gains) losses on investments, net that relate to our equity securities held during the following periods:
 For the Years Ended December 31,
(In millions)202520242023
Net (gains) losses recognized on equity securities$19.7 $100.4 $275.2 
Less: Net (gains) losses realized on equity securities1.5 (2.0)5.2 
Net unrealized (gains) losses recognized on equity securities$18.2 $102.4 $270.0 
The net unrealized losses recognized during the year ended December 31, 2025, primarily reflect a decrease in the aggregate fair value of our investment in Denali common stock of approximately $27.7 million, partially offset by an increase in the fair value of Sage common stock of approximately $23.0 million.
The net unrealized losses recognized during the year ended December 31, 2024, primarily reflect a decrease in the aggregate fair value of our investment in Sage common stock of approximately $101.4 million, partially offset by an increase in the fair value of Denali and Sangamo common stock of approximately $7.5 million.
The net unrealized losses recognized during the year ended December 31, 2023, primarily reflect a decrease in the aggregate fair value of our investments in Sage, Denali, Sangamo and Ionis common stock of approximately $248.5 million.
Other Current Assets
Other current assets includes prepaid taxes of $693.6 million and $307.2 million as of December 31, 2025 and 2024, respectively.
Accrued Expense and Other
Accrued expense and other consists of the following:
 As of December 31,
(In millions)20252024
Revenue-related reserves for discounts and allowances$1,000.4 $937.5 
Employee compensation and benefits375.8 375.8 
Collaboration expense280.0 309.0 
Royalties and licensing fees302.4 190.2 
Current portion of contingent consideration obligations— 291.2 
Other844.0 704.0 
Total accrued expense and other$2,802.6 $2,807.7 
Other Long-term Liabilities
Other long-term liabilities were $748.5 million and $732.3 million as of December 31, 2025 and 2024, respectively, and included accrued income taxes totaling $166.4 million and $156.7 million, respectively.