OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS

6 Months Ended

Jun. 30, 2024

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:


	June 30, 2024		December 31, 2023
Inventories
Raw materials	$	233.5	$	196.9
Work in process	237.7		195.7
Finished products	553.5		525.7
	$	1,024.7	$	918.3

At June 30, 2024 and December 31, 2023, $167.1 million and $164.6 million, respectively, of the Company's finished products inventories were held on consignment.


	June 30, 2024		December 31, 2023
Other assets
Tax receivable (Note 14)	$	290.0	$	—
Notes and other receivables	172.3		155.1
Acquisition options	176.9		161.3
Long-term prepaid royalties	105.7		109.9
Fair value of derivatives	30.5		23.4
Other long-term assets	14.4		13.4
	$	789.8	$	463.1

Accrued and other liabilities

Employee compensation and withholdings	$	288.7	$	318.2
Taxes payable	47.0		52.7
Property, payroll, and other taxes	73.8		53.8
Research and development accruals	78.0		71.6
Accrued rebates	120.6		123.5
Fair value of derivatives	4.7		15.2
Accrued marketing expenses	13.0		13.7
Legal and insurance	32.5		28.9
Litigation settlement	76.7		69.1
Accrued relocation costs	17.0		16.9
Accrued professional services	59.1		8.5
Accrued realignment reserves	8.9		6.4


Other accrued liabilities	82.4		79.7
	$	902.4	$	858.2

Supplemental Cash Flow Information

(in millions)


	Six Months Ended June 30,
	2024		2023
Cash paid during the year for:
Income taxes (a) (Note 14)	$	528.9	$	193.5
Amounts included in the measurement of operating lease liabilities	$	14.5	$	12.7
Non-cash investing and financing transactions:



Right-of-use assets obtained in exchange for new lease liabilities	$	24.6	$	5.2
Capital expenditures accruals	$	24.1	$	26.2

______________________________________

(a) Includes cash paid for income taxes from discontinued operations of $7.1 million and $22.3 million for the six months ended June 30, 2024 and 2023, respectively.

Cash, Cash Equivalents, and Restricted Cash

(in millions)


	June 30, 2024		December 31, 2023
Continuing operations
Cash and cash equivalents	$	1,644.5	$	1,136.1
Restricted cash included in other current assets	3.5		3.3
Restricted cash included in other assets	0.9		0.7
Total	$	1,648.9	$	1,140.1
Discontinued operations
Cash and cash equivalents	$	9.2	$	7.9
Total	$	9.2	$	7.9
Total cash, cash equivalents, and restricted cash	$	1,658.1	$	1,148.0

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