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Share-Based Payments (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based compensation expense included in consolidated statements of income
The following table summarizes share-based compensation expense included in our consolidated statements of income:
 
For the Years Ended December 31,
(In millions)
2018
 
2017
 
2016
Research and development
$
75.8

 
$
74.0

 
$
84.5

Selling, general and administrative
105.8

 
95.7

 
121.7

Restructuring charges
—

 
—

 
(1.8
)
Subtotal
181.6

 
169.7

 
204.4

Capitalized share-based compensation costs
(11.5
)
 
(9.6
)
 
(14.6
)
Share-based compensation expense included in total cost and expenses
170.1

 
160.1

 
189.8

Income tax effect
(27.5
)
 
(42.8
)
 
(54.0
)
Share-based compensation expense included in net income attributable to Biogen Inc.
$
142.6

 
$
117.3

 
$
135.8
Summary of share-based compensation expense associated with each of our share-based compensating programs
The following table summarizes share-based compensation expense associated with each of our share-based compensation programs:
 
For the Years Ended December 31,
(In millions)
2018
 
2017
 
2016
Market stock units
$
27.2

 
$
22.4

 
$
38.4

Time-vested restricted stock units
126.6

 
107.3

 
120.0

Cash settled performance units
7.8

 
18.4

 
16.3

Performance units
3.1

 
12.3

 
18.6

Performance stock units settled in stock
4.7

 
—

 
—

Performance stock units settled in cash
1.7

 
—

 
—

Employee stock purchase plan
10.5

 
9.3

 
11.1

Subtotal
181.6

 
169.7

 
204.4

Capitalized share-based compensation costs
(11.5
)
 
(9.6
)
 
(14.6
)
Share-based compensation expense included in total cost and expenses
$
170.1

 
$
160.1

 
$
189.8
Stock option activity
The following table summarizes our stock option activity:
 
Shares
 
Weighted
Average
Exercise
Price
Outstanding at December 31, 2017
42,000

 
$
53.83

Granted
—

 
$
—

Exercised
(15,000
)
 
$
53.85

Cancelled
—

 
$
—

Outstanding at December 31, 2018
27,000

 
$
53.82
Tax benefit and cash received from stock option exercises
The following table summarizes the amount of tax benefit realized for stock options and cash received from the exercise of stock options:
 
For the Years Ended December 31,
(In millions)
2018
 
2017
 
2016
Tax benefit realized for stock options
$
2.2

 
$
3.4

 
$
4.0

Cash received from the exercise of stock options
$
0.8

 
$
0.7

 
$
2.2
Market stock units activity
The following table summarizes our MSU activity:
 
Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested at December 31, 2017
171,000

 
$
370.83

Granted (a)
129,000

 
$
378.85

Vested
(91,000
)
 
$
365.83

Forfeited
(29,000
)
 
$
376.51

Unvested at December 31, 2018
180,000

 
$
371.32
Assumptions used in valuation of market based stock units
he assumptions used in our valuation are summarized as follows:
 
For the Years Ended December 31,
 
2018
 
2017
 
2016
Expected dividend yield
—%
 
—%
 
—%
Range of expected stock price volatility
27.5% - 32.4%
 
33.0% - 35.6%
 
38.2% - 40.7%
Range of risk-free interest rates
1.9% - 2.3%
 
0.9% - 1.6%
 
0.6% - 0.9%
30 calendar day average stock price on grant date
$279.47 - $346.76
 
$263.18 - $267.88
 
$260.67 - $304.86
Weighted-average per share grant date fair value
$378.85
 
$382.59
 
$328.03
Cash settled performance shares activity
The following table summarizes our CSPU activity:
 
Shares
Unvested at December 31, 2017
105,000

Granted (a)
12,000

Vested
(51,000
)
Forfeited
(16,000
)
Unvested at December 31, 2018
50,000
Performance units activity
The following table summarizes our PU activity:
 
Shares
Unvested at December 31, 2017
91,000

Granted (a)
10,000

Vested
(52,000
)
Forfeited
(1,000
)
Unvested at December 31, 2018
48,000
Performance stock units settled in stock activity
The following table summarizes our PSUs that settle in stock activity:
 
Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested at December 31, 2017
—

 
$
—

Granted (a)
67,000

 
$
317.09

Vested
—

 
$
—

Forfeited
(7,000
)
 
$
315.70

Unvested at December 31, 2018
60,000

 
$
317.26
Performance stock units settled in cash activity
The following table summarizes our PSUs that settle in cash activity:
 
Shares
Unvested at December 31, 2017
—

Granted (a)
45,000

Vested
—

Forfeited
(5,000
)
Unvested at December 31, 2018
40,000
Time-vested restricted stock units activity
The following table summarizes our RSU activity:
 
Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested at December 31, 2017
832,000

 
$
291.85

Granted (a)
581,000

 
$
316.32

Vested
(376,000
)
 
$
299.94

Forfeited
(134,000
)
 
$
298.81

Unvested at December 31, 2018
903,000

 
$
303.18
Shares issued under employee stock purchase plan
The following table summarizes our ESPP activity:
 
For the Years Ended December 31,
(In millions, except share amounts)
2018
 
2017
 
2016
Shares issued under the 2015 ESPP
170,000

 
167,000

 
190,000

Cash received under the 2015 ESPP
$
40.5

 
$
39.8

 
$
41.5