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v3.25.0.1

Income Taxes - Schedule of Deferred Tax Asset and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2024 | Dec. 31, 2023
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Deferred tax assets: |  |
Capitalized research and development | $ 4,598.7 | $ 2,997.5
Purchases of intangible assets | 1,781.4 | 1,981.9
Sales rebates and discounts | 1,775.7 | 1,632.5
Correlative tax adjustments | 1,604.3 | 1,031.3
Tax loss and other tax carryforwards | 586.9 | 527.2
Tax credit carryforwards | 577.0 | 577.0
Compensation and benefits | 565.2 | 521.4
Foreign tax redeterminations | 334.8 | 323.7
Operating lease liabilities | 240.5 | 253.3
Other | 358.6 | 463.4
Total gross deferred tax assets | 12,423.1 | 10,309.2
Valuation allowances | (963.7) | (913.5)
Total deferred tax assets | 11,459.4 | 9,395.7
Deferred tax liabilities: |  |
Intangibles | (1,176.4) | (1,338.2)
Earnings of foreign subsidiaries | (773.1) | (796.6)
Prepaid employee benefits | (611.0) | (460.6)
Property and equipment | (557.6) | (495.2)
Operating lease assets | (219.1) | (237.1)
Financial instruments | (137.3) | (75.1)
Inventories | (58.2) | (619.5)
Total deferred tax liabilities | (3,532.7) | (4,022.3)
Deferred tax assets, net | $ 7,926.7 | $ 5,373.4

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