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Balance Sheet Information (Tables)
 12 Months Ended
Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]  
Supplemental Balance Sheet Information
Certain significant amounts included in the Company's Consolidated Balance Sheets consist of the following (in millions):
As of
December 31, 2020December 31, 2019
Inventories:
Raw materials$135.7 $138.4 
Work in process829.7 772.9 
Finished goods286.0 321.1 
$1,251.4 $1,232.4 
Property, plant and equipment, net:
Land$119.7 $125.2 
Buildings850.0 860.6 
Machinery and equipment4,538.0 4,275.2 
Property, plant and equipment, gross5,507.7 5,261.0 
Less: Accumulated depreciation(2,995.4)(2,669.4)
$2,512.3 $2,591.6 
Accrued expenses:
Accrued payroll and related benefits$166.8 $153.4 
Sales related reserves233.3 247.3 
Income taxes payable25.5 22.5 
Other144.4 115.6 
$570.0 $538.8 
Components of Lease Expense and Lease Liabilities
The components of lease expense are as follows (in millions):
Year Ended
December 31, 2020December 31, 2019
Operating lease$38.2 35.0 
Variable lease4.2 4.0 
Short-term lease4.1 2.6 
Total lease expense$46.5 41.6 
The lease liabilities included in the following captions in the Consolidated Balance Sheet are as follows (in millions):
As of
December 31, 2020December 31, 2019
Accrued expenses and other current liabilities$32.2 26.1 
Other long-term liabilities115.7 87.9 
Total lease liabilities$147.9 114.0 
Reconciliation of the Maturities of Operating Leases The reconciliation of the maturities of the operating leases to the lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2020 is as follows (in millions):
2021$36.5 
202230.1 
202323.1 
202420.8 
202514.2 
Thereafter49.9 
Total lease payments$174.6 
Less: Interest(26.7)
Total lease liabilities$147.9