OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS

Composition of Certain Financial Statement Captions

(in millions)

Components of selected captions in the consolidated condensed balance sheets consisted of the following:


	September 30, 2022		December 31, 2021
Inventories
Raw materials	$	143.7	$	132.8
Work in process	172.7		164.3
Finished products	441.4		429.6
	$	757.8	$	726.7

At September 30, 2022 and December 31, 2021, $105.0 million and $125.8 million, respectively, of the Company's finished products inventories were held on consignment.


	September 30, 2022		December 31, 2021
Accrued and other liabilities

Employee compensation and withholdings	$	250.0	$	319.7
Taxes payable	38.6		30.6
Property, payroll, and other taxes	54.8		68.9
Research and development accruals	71.6		58.2
Accrued rebates	91.8		77.0
Fair value of derivatives	4.4		3.9
Accrued marketing expenses	15.3		20.1
Legal and insurance (a)	81.1		79.1
Accrued relocation costs	25.9		26.2
Accrued professional services	11.2		11.9
Accrued realignment reserves	16.2		19.1

Other accrued liabilities	78.6		87.6
	$	739.5	$	802.3

_______________________________________

(a) On July 12, 2020, the Company reached an agreement with Abbott Laboratories and its direct and indirect subsidiaries to, among other things, settle all outstanding patent disputes between the companies in cases related to transcatheter mitral and tricuspid repair products. As of September 30, 2022, $51.3 million was accrued in "Accrued and other liabilities" and $153.9 million was accrued in "Litigation settlement accrual" on the consolidated condensed balance sheet.

Supplemental Cash Flow Information

(in millions)


	Nine Months Ended September 30,
	2022		2021
Cash paid during the year for:
Income taxes	$	315.9	$	112.6
Amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	22.2	$	24.1
Non-cash investing and financing transactions:



Right-of-use assets obtained in exchange for new lease liabilities	$	24.7	$	13.5
Capital expenditures accruals	$	25.3	$	20.1

Conversion of notes receivable to equity investment	$	—	$	21.5

Cash, Cash Equivalents, and Restricted Cash

(in millions)


	September 30, 2022		December 31, 2021
Cash and cash equivalents	$	1,247.8	$	862.8
Restricted cash included in other current assets	1.1		1.5
Restricted cash included in other assets	2.8		3.1
Total cash, cash equivalents, and restricted cash	$	1,251.7	$	867.4

Amounts included in restricted cash primarily represent funds placed in escrow related to litigation.