Additional Balance Sheet & Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Cash Equivalents

The cash, cash equivalents and restricted cash balances at the beginning and ending of each period presented in our

consolidated statements of cash flows consisted of the following:

	As of December 31,
	2025	2024	2023	2022
	(in millions)
Cash and cash equivalents	$5,084.8	$4,569.6	$10,369.1	$10,504.0
Prepaid expenses and other current assets	3.0	2.6	3.2	8.0
Cash, cash equivalents and restricted cash per consolidated statements of cash flows	$5,087.8	$4,572.2	$10,372.3	$10,512.0

Schedule of Restrictions on Cash and Cash Equivalents

The cash, cash equivalents and restricted cash balances at the beginning and ending of each period presented in our

consolidated statements of cash flows consisted of the following:

	As of December 31,
	2025	2024	2023	2022
	(in millions)
Cash and cash equivalents	$5,084.8	$4,569.6	$10,369.1	$10,504.0
Prepaid expenses and other current assets	3.0	2.6	3.2	8.0
Cash, cash equivalents and restricted cash per consolidated statements of cash flows	$5,087.8	$4,572.2	$10,372.3	$10,512.0

Schedule of Prepaid, and Other Assets

Prepaid expenses and other current assets” consisted of the following:

	As of December 31,
	2025	2024
	(in millions)
Tax-related prepaid and receivables	$634.5	$357.0
Prepaid expenses	101.7	102.2
Fair value of cash flow hedges	6.2	130.1
Other	110.9	76.4
Total	$853.3	$665.7

Schedule of Accrued Expenses

“Accrued expenses” consisted of the following:

	As of December 31,
	2025	2024
	(in millions)
Product revenue accruals	$1,814.1	$1,618.9
Payroll and benefits	397.7	352.1
Research, development and commercial contract costs	246.9	272.7
Royalty payable	276.7	271.0
Tax related accruals	103.1	161.1
Capital related accruals	86.0	43.5
Other	46.7	69.3
Total	$2,971.2	$2,788.6

Schedule of Other Current Liabilities

“Other current liabilities” consisted of the following:

	As of December 31,
	2025	2024
	(in millions)
Contract liabilities	$171.8	$206.8
Operating lease liabilities	77.3	87.1
Foreign currency forward contracts	79.4	—
Upfront and milestones payable	51.5	32.5
Other	48.3	36.6
Total	$428.3	$363.0

Schedule of Other Long Term Liabilities

“Other long-term liabilities” consisted of the following:

	As of December 31,
	2025	2024
	(in millions)
Tax-related liabilities	$895.4	$698.6
Finance lease liabilities	106.7	112.8
Contingent consideration	79.0	76.9
Other	188.4	126.3
Total	$1,269.5	$1,014.6