OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS

2. OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS

Composition of Certain Financial Statement Captions

(in millions)

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


	June 30, 2026		December 31, 2025
Inventories
Raw materials	$	210.5	$	196.6
Work in process	234.8		252.9
Finished products	685.9		676.7
	$	1,131.2	$	1,126.2

At June 30, 2026 and December 31, 2025, $221.9 million and $225.1 million, respectively, of the Company's finished products inventories were held on consignment.


	June 30, 2026		December 31, 2025
Other assets
Tax receivable (Note 15)	$	412.1	$	314.8
Notes and other receivables	68.8		173.7
Acquisition options	11.7		125.9
Long-term prepaid royalties	89.2		93.3
Fair value of derivatives	14.6		5.8
Other long-term assets	20.0		16.7
	$	616.4	$	730.2

Accrued and other liabilities

Employee compensation and withholdings	$	372.9	$	467.5
Taxes payable	192.9		192.5
Accrued rebates	163.5		156.6
Liability under transition services agreement	113.9		123.4
Property, payroll, and other taxes	77.6		84.9
Legal and insurance accrual	72.4		164.2
Research and development accruals	69.0		69.2
Unfavorable contract liability	20.3		27.2
Accrued realignment reserves	19.5		23.4
Contingent consideration	7.5		—




Fair value of derivatives	6.3		25.3
Litigation settlement	—		50.0


Other accrued liabilities	157.5		177.5
	$	1,273.3	$	1,561.7

Supplemental Cash Flow Information

(in millions)


	Six Months Ended June 30,
	2026		2025
Cash paid during the year for:
Income taxes (Note 15)	$	105.4	$	375.7
Amounts included in the measurement of operating lease liabilities	$	15.0	$	14.5
Non-cash investing and financing transactions:



Right-of-use assets obtained in exchange for new lease liabilities	$	11.6	$	8.7
Capital expenditures accruals	$	34.6	$	31.9

Cash, Cash Equivalents, and Restricted Cash

(in millions)


	June 30, 2026		December 31, 2025

Cash and cash equivalents	$	2,906.5	$	2,938.0
Restricted cash included in other current assets	2.4		0.5
Restricted cash included in other assets	0.8		1.0
Total cash, cash equivalents, and restricted cash	$	2,909.7	$	2,939.5