Other Consolidated Financial Statement Detail

Other Income (Expense), Net

Components of other income (expense), net, are summarized as follows:



	For the Three Months Ended March 31,
(In millions)	2019			2018
Interest income	$	31.2		$	26.7
Interest expense	(47.9		)	(50.5		)
Gain (loss) on investments, net	376.4			(14.4		)
Foreign exchange gains (losses), net	(2.2		)	(1.0		)
Other, net	(0.2		)	(1.8		)
Total other income (expense), net	$	357.3		$	(41.0	)

For the three months ended March 31, 2019, gain (loss) on investments, net, as reflected in the table above, substantially relate to marketable equity securities held at March 31, 2019. The increase in gain (loss) on investments, net, compared to the prior year period, was primarily due to an increase in the fair value in our investment in Ionis' common stock as well as an increase in the value of a non-marketable equity security.

For additional information on our collaboration arrangement with Samsung Bioepis, please read Note 17, Collaborative and Other Relationships, to these condensed consolidated financial statements. For additional information on our investment in Ionis, please read Note 19, Collaborative and Other Relationships, to our consolidated financial statements included in our 2018 Form 10-K.

Accrued Expenses and Other

Accrued expenses and other consists of the following:



(In millions)	As of March 31, 2019		As of December 31, 2018
Revenue-related reserves for discounts and allowances	$	907.6	$	874.7
Collaboration expenses	216.6		261.6
Royalties and licensing fees	195.0		224.7
Employee compensation and benefits	160.8		320.9
Current portion of contingent consideration obligations	147.3		444.8
Construction in progress	99.7		125.2
Other	708.0		609.3
Total accrued expenses and other	$	2,435.0	$	2,861.2

Other Long-term Liabilities

Other long-term liabilities were $1,353.8 million and $1,389.4 million as of March 31, 2019 and December 31, 2018, respectively, and included accrued income taxes totaling $796.1 million and $791.4 million, respectively.