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Other Consolidated Financial Statement Detail | 3 Months Ended
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Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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) |  | 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) |  |  |  |  |
Gains (losses) 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 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 Expense 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 |
Other Long-term Liabilities Other long-term liabilities were $1,287.9 million and $1,320.5 million as of March 31, 2022 and December 31, 2021, respectively, and included accrued income taxes totaling $640.5 million and $664.5 million, respectively.

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