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Other Consolidated Financial Statement Detail (Tables) | 3 Months Ended
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Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Other income (expense), net | Components of other income (expense), net, are summarized as follows:
|  | For the Three Months Ended March 31, |  |
(In millions) |  | 2022 |  | 2021 |  |  |  |
Interest income |  | $ | 2.9 |  |  | $ | 2.9 |  |  |  |  |
Interest expense |  | (66.1) |  |  | (64.7) |  |  |  |  |
Gains (losses) on investments, net |  | (191.1) |  |  | (436.6) |  |  |  |  |
Foreign exchange gains (losses), net |  | (8.3) |  |  | (8.6) |  |  |  |  |
Other, net |  | (0.7) |  |  | 0.1 |  |  |  |  |
Total other income (expense), net |  | $ | (263.3) |  |  | $ | (506.9) |  |  |  |  |
Gain (loss) on investments in equity securities | The following table summarizes our gains (losses) on investments, net that relates to our equity securities held as of March 31, 2022 and 2021:
|  | For the Three Months Ended March 31, |  |
(In millions) |  | 2022 |  | 2021 |  |  |  |
Net gains (losses) recognized during the period on equity securities |  | $ | (190.7) |  |  | $ | (436.1) |  |  |  |  |
Less: Net gains (losses) realized during the period on equity securities |  | 0.2 |  |  | 6.2 |  |  |  |  |
Unrealized gains (losses) recognized during the period on equity securities |  | $ | (190.9) |  |  | $ | (442.3) |  |  |  |  |
The net unrealized losses recognized during the three months ended March 31, 2022, primarily reflect decreases in the aggregate fair value of our investments in Denali, Sage and Sangamo common stock of approximately $205.5 million.
Accrued expenses and other | Accrued expense and other consists of the following:
(In millions) |  | As of March 31, 2022 |  | As of December 31, 2021
Revenue-related reserves for discounts and allowances |  | $ | 831.1 |  |  | $ | 802.1 |
Collaboration expense |  | 266.2 |  |  | 324.7 |
Royalties and licensing fees |  | 216.0 |  |  | 234.7 |
Employee compensation and benefits |  | 206.6 |  |  | 345.1 |
Other |  | 711.2 |  |  | 828.6 |
Total accrued expense and other |  | $ | 2,231.1 |  |  | $ | 2,535.2 |

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