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v3.24.0.1

Income Taxes (Schedule of Deferred Tax Asset and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022
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Deferred tax assets: |  |
Capitalized research and development | $ 2,997.5 | $ 1,615.4
Purchases of intangible assets | 1,981.9 | 2,071.3
Sales rebates and discounts | 1,632.5 | 1,312.9
Correlative tax adjustments | 1,031.3 | 752.5
Tax credit carryforwards | 577.0 | 477.6
Tax loss and other tax carryforwards | 527.2 | 626.0
Compensation and benefits | 521.4 | 427.9
Foreign tax redeterminations | 323.7 | 267.8
Operating lease liabilities | 253.3 | 147.5
Other | 463.4 | 361.0
Total gross deferred tax assets | 10,309.2 | 8,059.9
Valuation allowances | (913.5) | (775.1)
Total deferred tax assets | 9,395.7 | 7,284.8
Deferred tax liabilities: |  |
Intangibles | (1,338.2) | (1,387.9)
Earnings of foreign subsidiaries | (796.6) | (1,226.0)
Inventories | (619.5) | (639.5)
Property and equipment | (495.2) | (433.5)
Prepaid employee benefits | (460.6) | (546.5)
Operating lease assets | (237.1) | (130.7)
Financial instruments | (75.1) | (215.0)
Total deferred tax liabilities | (4,022.3) | (4,579.1)
Deferred tax assets, net | $ 5,373.4 | $ 2,705.7

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