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Other Consolidated Financial Statement Detail | 9 Months Ended
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Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Other Consolidated Financial Statement Detail | Other Consolidated Financial Statement Detail Other Income (Expense), Net Components of other income (expense), net, are summarized as follows:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
(In millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Interest income | $ | 30.5 |  |  | $ | 26.0 |  |  | $ | 90.8 |  |  | $ | 81.4 |
Interest expense | (45.8 | ) |  | (49.0 | ) |  | (141.4 | ) |  | (151.2 | )
Gain (loss) on investments, net | (4.1 | ) |  | 141.1 |  |  | 198.9 |  |  | 132.0 |
Foreign exchange gains (losses), net | (4.2 | ) |  | 0.2 |  |  | (4.7 | ) |  | (13.8 | )
Other, net | (3.7 | ) |  | (3.2 | ) |  | (11.0 | ) |  | (8.8 | )
Total other income (expense), net | $ | (27.3 | ) |  | $ | 115.1 |  |  | $ | 132.6 |  |  | $ | 39.6 |
Gain (loss) on investments, net, as reflected in the table above, relate to debt securities, equity securities of certain biotechnology companies, venture capital funds where the underlying investments are in equity securities of certain biotechnology companies and non-marketable equity securities. The following table summarizes our gain (loss) on investments, net that relates to our equity securities held as of September 30, 2019:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
(In millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Net gains (losses) recognized during the period on equity securities | $ | (4.6 | ) |  | $ | 141.2 |  |  | $ | 197.3 |  |  | $ | 139.7 |
Less: Net gains (losses) recognized during the period on equity securities sold during the period | $ | 4.4 |  |  | $ | — |  |  | $ | 46.8 |  |  | $ | (0.5 | )
Unrealized gains (losses) recognized during the period on equity securities held as of September 30, 2019 | $ | (9.0 | ) |  | $ | 141.2 |  |  | $ | 150.5 |  |  | $ | 140.2 |
Accrued Expenses and Other Accrued expenses and other consists of the following:
(In millions) | As of September 30, 2019 |  | As of December 31, 2018
Revenue-related reserves for discounts and allowances | $ | 884.2 |  |  | $ | 874.7 |
Employee compensation and benefits | 259.5 |  |  | 320.9 |
Royalties and licensing fees | 222.3 |  |  | 224.7 |
Collaboration expenses | 188.7 |  |  | 261.6 |
Current portion of contingent consideration obligations | 147.5 |  |  | 444.8 |
Construction in progress | 49.5 |  |  | 125.2 |
Other | 677.4 |  |  | 609.3 |
Total accrued expenses and other | $ | 2,429.1 |  |  | $ | 2,861.2 |
Other Long-term Liabilities Other long-term liabilities were $1,370.9 million and $1,389.4 million as of September 30, 2019 and December 31, 2018, respectively, and included accrued income taxes totaling $801.7 million and $791.4 million, respectively.

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