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Segment Reporting and Disaggregation of Relevant Expense Captions (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents information about reported segment revenues, segment profit, and significant segment expenses.

			Year Ended December 31,
(in millions)			2024						2023						2022
Revenues			$	2,355.3					$	1,887.1					$	1,488.7
Less:
Cost of revenues			34.0						39.7						23.2
Research and development:
External research and development			343.5						310.0						213.5
Payroll and benefits			236.7						206.7						163.8
Milestones			71.7						0.8						42.7
Other research and development (1)			79.2						47.5						43.8
Total research and development			731.1						565.0						463.8
Acquired in-process research and development			12.5						143.9						—
Selling, general, and administrative			1,007.2						887.6						752.7
Unrealized loss (gain) on equity investments			37.1						(28.4)						(30.8)
Charges associated with convertible senior notes			138.4						—						70.0
Interest income and other, net			(91.0)						(52.8)						(4.1)
Provision for income taxes			144.7						82.4						59.4
Net income			$	341.3					$	249.7					$	154.5

_________________________

(1) Other research and development consists of indirect costs incurred for the benefit of multiple research and development programs, including depreciation, information technology, and other facility-based expenses, such as rent expense.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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