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Other Consolidated Financial Statement Detail (Tables)

3 Months Ended

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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