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Other Consolidated Financial Statement Detail | 6 Months Ended
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Jun. 30, 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 June 30, |  | For the Six Months Ended June 30,
(In millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Gain on sale of equity interest in Samsung Bioepis(1) |  | $ | (1,505.4) |  |  | $ | — |  |  | $ | (1,505.4) |  |  | $ | — |
Litigation agreement in principle |  | 900.0 |  |  | — |  |  | 900.0 |  |  | — |
Interest income |  | (12.6) |  |  | (2.7) |  |  | (15.5) |  |  | (5.6) |
Interest expense |  | 65.8 |  |  | 56.4 |  |  | 131.9 |  |  | 121.1 |
Gains (losses) on investments, net |  | 78.2 |  |  | (153.9) |  |  | 269.3 |  |  | 282.7 |
Foreign exchange gains (losses), net |  | 19.2 |  |  | 0.8 |  |  | 27.5 |  |  | 9.4 |
Other, net |  | 26.2 |  |  | 3.0 |  |  | 26.9 |  |  | 2.9 |
Total other (income) expense, net |  | $ | (428.6) |  |  | $ | (96.4) |  |  | $ | (165.3) |  |  | $ | 410.5 |
(1) Reflects the pre-tax gain, net of transaction costs, recognized from the sale of our 49.9% equity interest in Samsung Bioepis to Samsung BioLogics in April 2022. For additional information on the sale of our equity interest in Samsung Bioepis, please read Note 2, Dispositions, to these condensed consolidated financial statements. 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. During the second quarter of 2022 we recorded a pre-tax charge of $900.0 million, plus estimated fees and expenses, related to an agreement in principle to resolve a qui tam litigation relating to conduct prior to 2015. This charge is included within other (income) expense, net in our condensed consolidated statements of income for the three and six months ended June 30, 2022. For additional information on the litigation agreement in principle, please read Note 19, Litigation, to these condensed consolidated financial statements. The following table summarizes our gains (losses) on investments, net that relate to our equity securities held during the following periods:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Net gains (losses) recognized on equity securities |  | $ | (77.2) |  |  | $ | 154.3 |  |  | $ | (267.9) |  |  | $ | (281.8) |
Less: Net gains (losses) realized on equity securities |  | (0.7) |  |  | 0.4 |  |  | (0.5) |  |  | 6.6 |
Net unrealized gains (losses) recognized on equity securities |  | $ | (76.5) |  |  | $ | 153.9 |  |  | $ | (267.4) |  |  | $ | (288.4) |
The net unrealized losses recognized during the three months ended June 30, 2022, primarily reflect a decrease in the aggregate fair value of our investments in Sangamo and Denali common stock of approximately $75.3 million. The net unrealized losses recognized during the six months ended June 30, 2022, primarily reflect a decrease in the aggregate fair value of our investments in Denali, Sangamo and Sage common stock of approximately $277.1 million. Accrued Expense and Other Accrued expense and other consists of the following:
(In millions) |  | As of June 30, 2022 |  | As of December 31, 2021
Litigation agreement in principle(1) |  | $ | 900.0 |  |  | $ | — |
Revenue-related reserves for discounts and allowances |  | 846.0 |  |  | 802.1 |
Collaboration expense |  | 261.8 |  |  | 324.7 |
Royalties and licensing fees |  | 216.2 |  |  | 234.7 |
Employee compensation and benefits |  | 281.5 |  |  | 345.1 |
Other |  | 793.0 |  |  | 828.6 |
Total accrued expense and other |  | $ | 3,298.5 |  |  | $ | 2,535.2 |
(1) During the second quarter of 2022 we recorded a pre-tax charge of $900.0 million, plus estimated fees and expenses, related to an agreement in principle to resolve a qui tam litigation relating to conduct prior to 2015. For additional information on the litigation agreement in principle, please read Note 19, Litigation, to these condensed consolidated financial statements. Other Long-term Liabilities Other long-term liabilities were $1,167.8 million and $1,320.5 million as of June 30, 2022 and December 31, 2021, respectively, and included accrued income taxes totaling $499.6 million and $664.5 million, respectively.

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