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Share-based Payments | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Share-based Payments |
Note 16: | Share-Based Payments
Share-based Compensation Expense The following table summarizes share-based compensation expense included in our condensed consolidated statements of income:
|  | For the Three Months Ended March 31, |  |
(In millions) |  | 2025 |  | 2024 |  |  |  |
Research and development |  | $ | 32.1 |  |  | $ | 27.4 |  |  |  |  |
Selling, general and administrative |  | 52.0 |  |  | 44.0 |  |  |  |  |
Subtotal |  | 84.1 |  |  | 71.4 |  |  |  |  |
Capitalized share-based compensation costs |  | (3.1) |  |  | (3.3) |  |  |  |  |
Share-based compensation expense included in total cost and expense |  | 81.0 |  |  | 68.1 |  |  |  |  |
Income tax effect |  | (16.0) |  |  | (12.9) |  |  |  |  |
Share-based compensation expense included in net income attributable to Biogen Inc. |  | $ | 65.0 |  |  | $ | 55.2 |  |  |  |  |
The following table summarizes share-based compensation expense associated with each of our share-based compensation programs:
|  | For the Three Months Ended March 31, |  |
(In millions) |  | 2025 |  | 2024 |  |  |  |
Time-vested restricted stock units |  | $ | 66.1 |  |  | $ | 57.3 |  |  |  |  |
Performance stock units settled in stock |  | 13.6 |  |  | 10.5 |  |  |  |  |
Employee stock purchase plan |  | 3.5 |  |  | 4.5 |  |  |  |  |
Performance stock units settled in cash |  | — |  |  | (2.1) |  |  |  |  |
Stock options |  | 0.9 |  |  | 0.9 |  |  |  |  |
Market stock units |  | — |  |  | 0.3 |  |  |  |  |
Subtotal |  | 84.1 |  |  | 71.4 |  |  |  |  |
Capitalized share-based compensation costs |  | (3.1) |  |  | (3.3) |  |  |  |  |
Share-based compensation expense included in total cost and expense |  | $ | 81.0 |  |  | $ | 68.1 |  |  |  |  |
We estimate the fair value of our obligations associated with our performance stock units settled in cash at the end of each reporting period through expected settlement. Cumulative adjustments to these obligations are recognized each quarter to reflect changes in the stock price and estimated outcome of the performance-related conditions.

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