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Other Consolidated Financial Statement Detail | 6 Months Ended
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Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Other Consolidated Financial Statement Detail |
Note 18: | 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) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Interest income |  | $ | (32.3) |  |  | $ | (20.1) |  |  | $ | (56.2) |  |  | $ | (37.5) |
Interest expense |  | 72.6 |  |  | 61.3 |  |  | 132.6 |  |  | 130.5 |
(Gains) losses on investments, net |  | (5.3) |  |  | 30.7 |  |  | 30.3 |  |  | 61.3 |
Foreign exchange (gains) losses, net |  | 10.4 |  |  | 11.3 |  |  | 6.6 |  |  | 20.7 |
Other, net |  | 3.3 |  |  | 2.0 |  |  | 3.8 |  |  | 3.9 |
Total other (income) expense, net |  | $ | 48.7 |  |  | $ | 85.2 |  |  | $ | 117.1 |  |  | $ | 178.9 |
The (gains) losses on investments, net, as reflected in the table above, relate to 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 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) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net (gains) losses recognized on equity securities |  | $ | (5.3) |  |  | $ | 30.4 |  |  | $ | 30.3 |  |  | $ | 61.0 |
Less: Net (gains) losses realized on equity securities |  | — |  |  | 0.6 |  |  | (5.4) |  |  | 5.5 |
Net unrealized (gains) losses recognized on equity securities |  | $ | (5.3) |  |  | $ | 29.8 |  |  | $ | 35.7 |  |  | $ | 55.5 |
The net unrealized gains recognized during the three months ended June 30, 2025, primarily reflect an increase in the aggregate fair value of our investments in Sage and Denali common stock of approximately $10.1 million. The net unrealized losses recognized during the three months ended June 30, 2024, primarily reflect a decrease in the aggregate fair value of our investments in Sage and Sangamo common stock of approximately $51.4 million, partially offset by an increase in the fair value of Denali common stock of approximately $27.0 million. The net unrealized losses recognized during the six months ended June 30, 2025, primarily reflect a decrease in the aggregate fair value of our investments in Denali common stock of approximately $45.7 million, partially offset by an increase in the fair value of Sage common stock of approximately $23.0 million. The net unrealized losses recognized during the six months ended June 30, 2024, primarily reflect a decrease in the aggregate fair value of our investments in Sage and Sangamo common stock of approximately $68.3 million, partially offset by an increase in the fair value of Denali common stock of approximately $17.6 million. Accrued Expense and Other Accrued expense and other consists of the following:
(In millions) |  | As of June 30, 2025 |  | As of December 31, 2024
Revenue-related reserves for discounts and allowances |  | $ | 997.4 |  |  | $ | 937.5 |
Employee compensation and benefits |  | 260.9 |  |  | 375.8 |
Collaboration expense |  | 179.5 |  |  | 309.0 |
Royalties and licensing fees |  | 200.3 |  |  | 190.2 |
Current portion of contingent consideration obligations |  | 297.2 |  |  | 291.2 |
Derivative liabilities |  | 123.7 |  |  | 11.7 |
Other |  | 601.5 |  |  | 692.3 |
Total accrued expense and other |  | $ | 2,660.5 |  |  | $ | 2,807.7 |
Other Long-term Liabilities Other long-term liabilities were $799.6 million and $732.3 million as of June 30, 2025 and December 31, 2024, respectively, and included accrued income taxes totaling $165.1 million and $156.7 million, respectively

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