Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Income Statement [Table Text Block]

	Condensed Consolidating Statements of Operations
(for the 3 months ended June 30, 2016)	Shire Plc (Parent Guarantor)	Baxalta Inc. (Issuer)	Non-Guarantor subsidiaries	Eliminations	Consolidated
(in millions)
Revenues:
Product sales	$ -	$ -	$ 2,322.1	$ -	$ 2,322.1
Royalties & other revenues	-	-	107.0	-	107.0
Total revenues	-	-	2,429.1	-	2,429.1
Costs and expenses:
Cost of sales	-	5.6	772.5	-	778.1
Research and development	-	1.0	293.8	-	294.8
Selling, general and administrative	23.4	97.2	559.3	(4.6)	675.3
Integration and acquisition costs	-	114.9	248.1	-	363.0
Amortization of acquired intangible assets	-	-	213.0	-	213.0
Other operating expenses	-	-	8.7	-	8.7
Total operating expenses	23.4	218.7	2,095.4	(4.6)	2,332.9
Operating income (loss) from continuing operations	(23.4)	(218.7)	333.7	4.6	96.2
Interest income/(expense), net	(22.6)	(5.7)	(57.3)	-	(85.6)
Other income/(expense), net	1.2	7.7	(2.9)	-	6.0
Total other income/(expense), net	(21.4)	2.0	(60.2)	-	(79.6)
Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees	(44.8)	(216.7)	273.5	4.6	16.6
Income tax benefit	0.9	58.8	11.2	-	70.9
Equity in income/(losses) of equity method investees, net of taxes	(118.2)	(131.5)	(0.9)	249.7	(0.9)
Income/(loss) from continuing operations, net of taxes	(162.1)	(289.4)	283.8	254.3	86.6
Loss from discontinued operations, net of taxes1	-	-	(248.7)	-	(248.7)
Net income/(loss)	(162.1)	(289.4)	35.1	254.3	(162.1)
Comprehensive income/(loss)	$ (388.5)	$ (291.2)	$ (189.5)	$ 480.7	$ (388.5)

	Condensed Consolidating Statements of Operations
(for the 6 months ended June 30, 2016)	Shire Plc (Parent Guarantor)	Baxalta Inc. (Issuer)	Non-Guarantor subsidiaries	Eliminations	Consolidated
(in millions)
Revenues:
Product sales	$ -	$ -	$ 3,949.4	$ -	$ 3,949.4
Royalties & other revenues	-	-	189.0	-	189.0
Total revenues	-	-	4,138.4	-	4,138.4
Costs and expenses:
Cost of product sales	-	5.6	1,021.1	-	1,026.7
Research and development	-	1.0	510.9	-	511.9
Selling, general and administrative	35.8	97.2	1,017.2	-	1,150.2
Integration and acquisition costs	-	114.9	339.2	-	454.1
Amortization of acquired intangible assets	-	-	347.6	-	347.6
Other operating expenses	-	-	7.8	-	7.8
Total operating expenses	35.8	218.7	3,243.8	-	3,498.3
Operating income (loss) from continuing operations	(35.8)	(218.7)	894.6	-	640.1
Interest income/(expense), net	(44.5)	(5.7)	(79.1)	-	(129.3)
Other (expense)/income, net	0.9	7.7	(11.1)	-	(2.5)
Total other income/(expense), net	(43.6)	2.0	(90.2)	-	(131.8)
Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees	(79.4)	(216.7)	804.4	-	508.3
Income tax benefit/(charge)	1.9	58.8	(71.9)	-	(11.2)
Equity in income/(losses) of equity method investees, net of taxes	334.4	(131.5)	(1.0)	(202.9)	(1.0)
Income/(loss) from continuing operations, net of taxes	256.9	(289.4)	731.5	(202.9)	496.1
Loss from discontinued operations, net of taxes1	-	-	(239.2)	-	(239.2)
Net income/(loss)	256.9	(289.4)	492.3	(202.9)	256.9
Comprehensive (loss)/income	$ 54.9	$ (291.2)	$ 292.1	$ (0.9)	$ 54.9

	Condensed Consolidating Statements of Operations
(for the 3 months ended June 30, 2015)	Shire Plc (Parent Guarantor)	Baxalta Inc. (Issuer)	Non-Guarantor subsidiaries	Eliminations	Consolidated
(in millions)
Revenues:
Product sales	$ -	$ -	$ 1,476.2	$ -	$ 1,476.2
Royalties & other revenues	-	-	81.4	-	81.4
Total revenues	-	-	1,557.6	-	1,557.6
Costs and expenses:
Cost of product sales	-	-	228.0	-	228.0
Research and development	-	-	775.9	-	775.9
Selling, general and administrative	7.4	-	488.2	0.4	496.0
Integration and acquisition costs	-	-	(212.4)	-	(212.4)
Amortization of acquired intangible assets	-	-	131.3	-	131.3
Other operating expenses	-	-	6.2	-	6.2
Total operating expenses	7.4	-	1,417.2	0.4	1,425.0
Operating income (loss) from continuing operations	(7.4)	-	140.4	(0.4)	132.6
Interest income/(expense), net	(16.4)	-	5.7	-	(10.7)
Other expense, net	(0.2)	-	(1.8)	-	(2.0)
Total other income/(expense), net	(16.6)	-	3.9	-	(12.7)
Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees	(24.0)	-	144.3	(0.4)	119.9
Income tax benefit/(charge)	0.8	-	43.3	-	44.1
Equity in income/(losses) of equity method investees, net of taxes	182.8	-	0.1	(182.8)	0.1
Income/(loss) from continuing operations, net of taxes	159.6	-	187.7	(183.2)	164.1
Loss from discontinued operations, net of taxes1	-	-	(4.5)	-	(4.5)
Net income/(loss)	159.6	-	183.2	(183.2)	159.6
Comprehensive income/(loss)	$ 208.4	$ -	$ 232.0	$ (232.0)	$ 208.4

	Condensed Consolidating Statements of Operations
(for the 6 months ended June 30, 2015)	Shire Plc (Parent Guarantor)	Baxalta Inc. (Issuer)	Non-Guarantor subsidiaries	Eliminations	Consolidated
(in millions)
Revenues:
Product sales	$ -	$ -	$ 2,899.4	$ -	$ 2,899.4
Royalties & other revenues	-	-	146.6	-	146.6
Total revenues	-	-	3,046.0	-	3,046.0
Costs and expenses:
Cost of product sales	-	-	455.8	-	455.8
Research and development	-	-	969.6	-	969.6
Selling, general and administrative	12.8	-	900.8	0.7	914.3
Integration and acquisition costs	-	-	(136.7)	-	(136.7)
Amortization of acquired intangible assets	-	-	219.6	-	219.6
Other operating expenses	-	-	16.2	-	16.2
Total operating expenses	12.8	-	2,425.3	0.7	2,438.8
Operating income/(loss) from continuing operations	(12.8)	-	620.7	(0.7)	607.2
Interest income/(expense), net	(30.4)	-	12.1	-	(18.3)
Other income/(expense), net	1.2	-	1.1	-	2.3
Total other (expense)/income, net	(29.2)	-	13.2	-	(16.0)
Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees	(42.0)	-	633.9	(0.7)	591.2
Income tax benefit/(charge)	1.3	-	(14.6)	-	(13.3)
Equity in income/(losses) of equity method investees, net of taxes	610.7	-	(0.9)	(610.7)	(0.9)
Income/(loss) from continuing operations, net of taxes	570.0	-	618.4	(611.4)	577.0
Loss from discontinued operations, net of taxes1	-	-	(7.0)	-	(7.0)
Net income/(loss)	570.0	-	611.4	(611.4)	570.0
Comprehensive (loss)/income	$ 490.0	$ -	$ 531.4	$ (531.4)	$ 490.0

Condensed Balance Sheet [Table Text Block]

	Condensed Consolidating Balance Sheet
(As of June 30, 2016)	Shire Plc. (Parent Guarantor)	Baxalta Inc. (Issuer)	Non-Guarantor subsidiaries	Eliminations	Consolidated
(in millions)
ASSETS
Current assets:
Cash and cash equivalents	$ -	$ 53.4	$ 640.0	$ -	$ 693.4
Restricted cash	-	-	20.0	-	20.0
Accounts receivable, net	-	-	2,432.0	(19.6)	2,412.4
Inventories	-	-	5,798.7	-	5,798.7
Prepaid expenses and other current assets	1.8	7.8	724.0	-	733.6
Intercompany receivables	-	631.9	5,286.9	(5,918.8)	-
Total current assets	1.8	693.1	14,901.6	(5,938.4)	9,658.1
Non-current assets:
Investments	36,404.6	36,234.8	12,545.5	(85,010.9)	174.0
Property, plant and equipment, net	-	18.5	6,577.8	-	6,596.3
Goodwill	-	-	12,962.4	-	12,962.4
Intangible assets, net	-	-	40,890.3	-	40,890.3
Other non-current assets	4.6	368.4	275.4	(209.0)	439.4
Total assets	$ 36,411.0	$ 37,314.8	$ 88,153.0	$ (91,158.3)	$ 70,720.5
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued expenses	$ 66.0	$ 131.5	$ 3,550.5	$ (19.9)	$ 3,728.1
Short term borrowings	905.0	-	1,810.2	-	2,715.2
Intercompany payables	5,270.5	16.1	631.9	(5,918.5)	-
Other current liabilities	(0.1)	28.7	382.9	-	411.5
Total current liabilities	6,241.4	176.3	6,375.5	(5,938.4)	6,854.8
Non-current liabilities:
Long term borrowings	-	5,114.7	16,197.4	-	21,312.1
Deferred tax liability	-	-	10,252.8	(199.0)	10,053.8
Other non-current liabilities	406.6	79.5	2,260.7	(10.0)	2,736.8
Total liabilities	6,648.0	5,370.5	35,086.4	(6,147.4)	40,957.5
Total equity	29,763.0	31,944.3	53,066.6	(85,010.9)	29,763.0
Total liabilities and equity	$ 36,411.0	$ 37,314.8	$ 88,153.0	$ (91,158.3)	$ 70,720.5

	Condensed Consolidating Balance Sheet
(As of December 31, 2015)	Shire Plc. (Parent Guarantor)	Baxalta Inc. (Issuer)	Non-Guarantor subsidiaries	Eliminations	Consolidated
(in millions)
ASSETS
Current assets:
Cash and cash equivalents	$ -	$ -	$ 135.5	$ -	$ 135.5
Restricted cash	-	-	86.0	-	86.0
Accounts receivable, net	-	-	1,201.2	-	1,201.2
Inventories	-	-	635.4	-	635.4
Prepaid expenses and other current assets	(6.5)	-	203.9	-	197.4
Intercompany receivables	-	-	3,145.3	(3,145.3)	-
Total current assets	(6.5)	-	5,407.3	(3,145.3)	2,255.5
Non-current assets:
Investments	14,477.2	-	50.8	(14,477.2)	50.8
Property, plant and equipment, net	-	-	828.1	-	828.1
Goodwill	-	-	4,147.8	-	4,147.8
Intangible assets, net	-	-	9,173.3	-	9,173.3
Other non-current assets	13.7	-	140.6	-	154.3
Total assets	$ 14,484.4	$ -	$ 19,747.9	$ (17,622.5)	$ 16,609.8
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued expenses	$ 10.0	$ -	$ 2,040.6	$ -	$ 2,050.6
Short term borrowings	1,500.0	-	11.5	-	1,511.5
Intercompany payables	3,145.3	-	-	(3,145.3)	-
Other current liabilities	-	-	144.0	-	144.0
Total current liabilities	4,655.3	-	2,196.1	(3,145.3)	3,706.1
Non-current liabilities:
Long term borrowings	-	-	69.9	-	69.9
Deferred tax liability	-	-	2,205.9	-	2,205.9
Other non-current liabilities	-	-	798.8	-	798.8
Total liabilities	4,655.3	-	5,270.7	(3,145.3)	6,780.7
Total equity	9,829.1	-	14,477.2	(14,477.2)	9,829.1
Total liabilities and equity	$ 14,484.4	$ -	$ 19,747.9	$ (17,622.5)	$ 16,609.8

Condensed Cash Flow Statement [Table Text Block]

	Condensed Consolidating Statement of Cash Flows
(For the six months ended June 30, 2016)	Shire Plc. (Parent Guarantor)	Baxalta Inc. (Issuer)	Non-Guarantor subsidiaries	Eliminations	Consolidated
(in millions)
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided (used in) operating activities	$ (13.8)	$ 1.6	$ 992.6	$ -	$ 980.4
CASH FLOWS FROM INVESTING ACTIVITIES:
Transactions with subsidiaries	(1,900.0)	-	(21,625.6)	23,525.6	-
Movements in restricted cash	-	-	67.2	-	67.2
Purchases of businesses, net of cash acquired	(19,049.0)	-	1,572.8	-	(17,476.2)
Purchases of non-current investments and PP&E	-	(1.9)	(177.2)	-	(179.1)
Proceeds from sale of product rights	-	-	5.6	-	5.6
Other, net	-	-	(2.3)	-	(2.3)
Net cash provided by (used in) investing activities	(20,949.0)	(1.9)	(20,159.5)	23,525.6	(17,584.8)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	905.0	-	17,990.0	-	18,895.0
Repayment of revolving line of credit, long term and short term borrowings	(1,500.0)	-	(0.3)	-	(1,500.3)
Proceeds from intercompany borrowings	21,572.2	53.4	1,900.0	(23,525.6)	-
Payment of dividend	(14.4)	-	(115.8)	-	(130.2)
Excess tax benefit associated with exercise of stock options	-	-	5.1	-	5.1
Debt issuance costs	-	-	(112.3)	-	(112.3)
Contingent consideration payments	-	-	(4.2)	-	(4.2)
Other, net	-	0.3	10.8	-	11.1
Net cash provided by (used in) financing activities	20,962.8	53.7	19,673.3	(23,525.6)	17,164.2
Effect of foreign exchange rate changes on cash and cash equivalents	-	-	(1.9)	-	(1.9)
Net increase in cash and cash equivalents	-	53.4	504.5	-	557.9
Cash and cash equivalents at beginning of period	-	-	135.5	-	135.5
Cash and cash equivalents at end of period	$ -	$ 53.4	$ 640.0	$ -	$ 693.4

	Condensed Consolidating Statement of Cash Flows
(For the six months ended June 30, 2015)	Shire Plc. (Parent Guarantor)	Baxalta Inc. (Issuer)	Non-Guarantor subsidiaries	Eliminations	Consolidated
(in millions)
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided (used in) operating activities	$ (85.0)	$ -	$ 1,098.9	$ -	$ 1,013.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Net transactions with subsidiaries	(3,570.0)	-	(2,345.1)	5,915.1	-
Movements in restricted cash	-	-	(19.5)	-	(19.5)
Purchases of businesses, net of cash acquired	-	-	(5,249.2)	-	(5,249.2)
Purchases of non-current investments and PP&E	-	-	(44.7)	-	(44.7)
Proceeds from short-term investments	-	-	67.0	-	67.0
Proceeds from sale of product rights	-	-	8.8	-	8.8
Proceeds from disposal of non-current investments	-	-	4.4	-	4.4
Other, net	-	-	(0.9)	-	(0.9)
Net cash provided by (used in) investing activities	(3,570.0)	-	(7,579.2)	5,915.1	(5,234.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	2,850.0	-	75.6	-	2,925.6
Repayment of revolving line of credit, long term and short term borrowings	(1,530.0)	-	(0.9)	-	(1,530.9)
Net proceeds from/(to) intercompany borrowings	2,345.1	-	3,570.0	(5,915.1)	-
Payment of dividend	(5.6)	-	(104.6)	-	(110.2)
Excess tax benefit associated with exercise of stock options	-	-	27.0	-	27.0
Contingent consideration payments	-	-	(4.5)	-	(4.5)
Other, net	(4.5)	-	-	-	(4.5)
Net cash provided by (used in) financing activities	3,655.0	-	3,562.6	(5,915.1)	1,302.5
Effect of foreign exchange rate changes on cash and cash equivalents	-	-	(0.7)	-	(0.7)
Net decrease in cash and cash equivalents	-	-	(2,918.4)	-	(2,918.4)
Cash and cash equivalents at beginning of period	-	-	2,982.4	-	2,982.4
Cash and cash equivalents at end of period	$ -	$ -	$ 64.0	$ -	$ 64.0