Share-based Payments

3 Months Ended

Mar. 31, 2012

Share-based Payments [Abstract]

Share-based Payments

13. Share-based Payments

Share-based Compensation Expense

The following table summarizes share-based compensation expense included within our condensed consolidated statements of income:

	For the Three Months
	Ended March 31,
(In millions)	2012			2011
Research and development .	$	19.7		$	19.1
Selling, general and administrative		28.8			20.7
Restructuring charges		—			(0.6	)
Subtotal		48.5			39.2
Capitalized share-based compensation costs .		(1.2	)		(1.0	)
Share-based compensation expense included in total cost and expenses		47.3			38.2
Income tax effect		(14.4	)		(12.0	)
Share-based compensation expense included in net income attributable to Biogen Idec Inc.	$	32.9		$	26.2

The following table summarizes share-based compensation expense associated with each of our share-based compensation programs:

	For the Three Months
	Ended March 31,
(In millions)	2012			2011
Stock options	$	0.1		$	1.1
Market stock units		6.0			3.5
Time-vested restricted stock units		25.8			27.9
Performance-vested restricted stock units settled in shares		0.1			0.4
Cash settled performance shares		14.8			4.8
Employee stock purchase plan		1.7			1.5
Subtotal	$	48.5		$	39.2
Capitalized share-based compensation costs		(1.2	)		(1.0	)
Share-based compensation expense included in total cost and expenses	$	47.3		$	38.2

Grants Under Share-based Compensation Plans

The following table summarizes our equity grants to employees, officers and directors under our current stock plans:

	For the Three Months
	Ended March 31,
	2012		2011
Market stock units(a)		286,000		363,000
Cash settled performance shares(b)		310,000		467,000
Time-vested restricted stock units(c)		771,000		1,220,000
Performance-vested restricted stock units(d)		—		1,000

(a) Market stock units (MSUs) granted for the three months ended March 31, 2012, includes approximately 217,000 MSUs granted in connection with our annual awards made in February 2012, representing the target number of shares eligible to be earned at the time of grant. The remainder of MSUs issued in the three months ended March 31, 2012 were based upon the attainment of performance criteria set for 2011 and 2010 in relation to shares granted in those years.

MSUs granted for the three months ended March 31, 2011, includes approximately 347,000 MSUs granted in connection with our annual awards made February 2011, representing the target number of shares eligible to be earned at the time of grant. The remainder of MSUs issued in the three months ended March 31, 2011 were based upon the attainment of performance criteria set for 2010 in relation to shares granted in 2010.

(b) Cash settled performance shares (CSPSs) granted for the three months ended March 31, 2012, includes approximately 245,000 CSPSs granted in connection with our annual awards made in February 2012, representing the target number of shares eligible to be earned at the time of grant. The remainder of CSPSs issued in the three months ended March 31, 2012 were based upon the attainment of performance criteria set for 2011 in relation to shares granted in 2011.

CSPSs granted for the three months ended March 31, 2011, includes approximately 379,000 CSPSs granted in connection with our annual awards made in February 2011, representing the target number of shares eligible to be earned at the time of grant. The remainder of CSPSs issued in the three months ended March 31, 2011 were based upon the attainment of performance criteria set for 2010 in relation to shares granted in 2010.

(c) Time-vested restricted stock units (RSUs) granted for the three months ended March 31, 2012, represent RSUs granted in connection with our annual awards made in February 2012. RSUs granted for the three months ended March 31, 2011, represent RSUs granted in connection with our annual awards made in February 2011.

(d) Performance-vested restricted stock units (PVRSUs) granted for the three months ended March 31, 2011, represent additional shares earned for performance criteria set for 2010 in relation to shares granted in 2010. No PVRSUs were granted during the three months ended March 31, 2012.

No stock options were granted during the three months ended March 31, 2012 and 2011, respectively. In addition, for the three months ended March 31, 2012, approximately 106,000 shares were issued under the ESPP compared to approximately 185,000 shares issued in the prior year comparative period.