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v3.22.0.1

Income Taxes (Schedule of Deferred Tax Asset and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020
--- | --- | ---
Deferred tax assets: |  |
Purchases of intangible assets | $ 2,347.4 | $ 2,560.6
Compensation and benefits | 634.7 | 1,045.6
Tax credit carryforwards and carrybacks | 463.7 | 523.5
Tax loss and other tax carryforwards and carrybacks | 645.4 | 488.3
Sales rebates and discounts | 832.3 | 461.3
Correlative tax adjustments | 560.8 | 404.2
Foreign tax redeterminations | 274.9 | 242.8
Operating lease liabilities | 150.0 | 150.7
Capitalized research and development | 275.1 | 135.2
Other | 477.9 | 605.8
Total gross deferred tax assets | 6,662.2 | 6,618.0
Valuation allowances | (875.6) | (816.3)
Total deferred tax assets | 5,786.6 | 5,801.7
Deferred tax liabilities: |  |
Earnings of foreign subsidiaries | (1,583.3) | (1,905.3)
Intangibles | (1,516.1) | (1,465.7)
Inventories | (596.4) | (623.7)
Prepaid employee benefits | (560.6) | (410.1)
Property and equipment | (338.7) | (315.2)
Financial instruments | (303.0) | (216.9)
Operating lease assets | (132.6) | (134.3)
Total deferred tax liabilities | (5,030.7) | (5,071.2)
Deferred tax assets, net | $ 755.9 | $ 730.5

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