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Organization and Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Basic and Diluted Net Income per Share | The following table sets forth the computation of basic and diluted net income per share for the periods shown:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions, except per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income | $ | 143.5 |  |  | $ | 115.9 |  |  | $ | 289.9 |  |  | $ | 164.5 |
Add back interest expense, net of tax attributable to assumed conversion of senior convertible notes | 2.9 |  |  | 3.8 |  |  | 5.8 |  |  | 5.5 |
Net income - diluted | $ | 146.4 |  |  | $ | 119.7 |  |  | $ | 295.7 |  |  | $ | 170.0 |
Net income per common share |  |  |  |  |  |  |
Basic | $ | 0.36 |  |  | $ | 0.30 |  |  | $ | 0.73 |  |  | $ | 0.43 |
Diluted | $ | 0.35 |  |  | $ | 0.28 |  |  | $ | 0.71 |  |  | $ | 0.40 |
Basic weighted average shares outstanding | 399.2 |  |  | 386.7 |  |  | 394.8 |  |  | 386.7 |
Dilutive potential securities: |  |  |  |  |  |  |
Collaborative sales-based milestones | — |  |  | — |  |  | 0.4 |  |  | — |
RSUs and PSUs | 0.6 |  |  | 0.9 |  |  | 1.0 |  |  | 1.1 |
Senior convertible notes | 15.7 |  |  | 31.7 |  |  | 15.7 |  |  | 26.9 |
Warrants | 1.3 |  |  | 12.2 |  |  | 5.0 |  |  | 11.9 |
Diluted weighted average shares outstanding | 416.8 |  |  | 431.5 |  |  | 416.9 |  |  | 426.6 |
Schedule of Outstanding Anti-dilutive Securities Excluded from Diluted Net Income per Share | Outstanding anti-dilutive securities not included in the calculations of diluted net income per share attributable to common stockholders were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2024 |  | 2023 |  | 2024 |  | 2023
RSUs and PSUs | 1.3 |  |  | — |  |  | 0.8 |  |  | — |
Senior convertible notes | — |  |  | — |  |  | — |  |  | 7.7 |
Total | 1.3 |  |  | — |  |  | 0.8 |  |  | 7.7 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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