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v3.22.1

Balance Sheet Components (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Balance Sheet Components [Abstract] |
Schedule of Cash, cash equivalents, and restricted cash | Cash and restricted cash
(In millions) | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021
Cash and cash equivalents | $ | 752.4 |  |  | $ | 701.2 |  |  | $ | 806.9 |
Restricted cash, included in prepaid expenses and other current assets | 5.0 |  |  | 5.0 |  |  | 6.2 |
Cash, cash equivalents and restricted cash | $ | 757.4 |  |  | $ | 706.2 |  |  | $ | 813.1 |
Inventories | Inventories
(In millions) | March 31, 2022 |  | December 31, 2021
Raw materials | $ | 868.1 |  |  | $ | 922.4 |
Work in process | 767.5 |  |  | 993.3 |
Finished goods | 2,161.7 |  |  | 2,062.0 |
Inventories | $ | 3,797.3 |  |  | $ | 3,977.7 |
Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets
(In millions) | March 31, 2022 |  | December 31, 2021
Prepaid expenses | $ | 268.1 |  |  | $ | 256.7 |
Available-for-sale fixed income securities | 36.6 |  |  | 38.2 |
Fair value of financial instruments | 202.8 |  |  | 144.6 |
Equity securities | 48.0 |  |  | 51.0 |
Other current assets | 1,208.1 |  |  | 1,467.1 |
Prepaid expenses and other current assets | $ | 1,763.6 |  |  | $ | 1,957.6 |
Property, Plant and Equipment | Property, plant and equipment, net
(In millions) | March 31, 2022 |  | December 31, 2021
Machinery and equipment | $ | 2,845.8 |  |  | $ | 3,054.0 |
Buildings and improvements | 1,578.4 |  |  | 1,808.5 |
Construction in progress | 541.8 |  |  | 588.7 |
Land and improvements | 126.5 |  |  | 137.9 |
Gross property, plant and equipment | 5,092.5 |  |  | 5,589.1 |
Accumulated depreciation | 1,942.3 |  |  | 2,400.5 |
Property, plant and equipment, net | $ | 3,150.2 |  |  | $ | 3,188.6 |
Other Assets | Other assets
(In millions) | March 31, 2022 |  | December 31, 2021
Operating lease right-of-use assets | $ | 281.7 |  |  | $ | 290.8 |
Other long-term assets | 774.3 |  |  | 879.9 |
Other assets | $ | 1,056.0 |  |  | $ | 1,170.7 |
Accounts payable | Accounts payable
(In millions) | March 31, 2022 |  | December 31, 2021
Trade accounts payable | $ | 928.4 |  |  | $ | 1,056.1 |
Other payables | 571.2 |  |  | 601.3 |
Accounts payable | $ | 1,499.6 |  |  | $ | 1,657.4 |
Other Current Liabilities | Other current liabilities
(In millions) | March 31, 2022 |  | December 31, 2021
Accrued sales allowances | $ | 1,095.8 |  |  | $ | 1,362.1 |
Legal and professional accruals, including litigation accruals | 694.9 |  |  | 715.6 |
Payroll and employee benefit liabilities | 567.1 |  |  | 741.9 |
Contingent consideration | 86.2 |  |  | 66.7 |
Accrued restructuring | 171.8 |  |  | 233.5 |
Accrued interest | 228.8 |  |  | 86.6 |
Equity method investments, clean energy investments | 4.3 |  |  | 10.9 |
Fair value of financial instruments | 98.9 |  |  | 61.0 |
Operating lease liability | 89.9 |  |  | 86.7 |
Other | 1,388.6 |  |  | 1,254.6 |
Other current liabilities | $ | 4,426.3 |  |  | $ | 4,619.6 |
Other Noncurrent Liabilities | Other long-term obligations
(In millions) | March 31, 2022 |  | December 31, 2021
Employee benefit liabilities | $ | 861.3 |  |  | $ | 876.4 |
Contingent consideration | 112.2 |  |  | 133.0 |
Tax related items, including contingencies | 429.5 |  |  | 426.1 |
Operating lease liability | 191.7 |  |  | 200.9 |
Accrued restructuring | 51.4 |  |  | 64.3 |
Other | 238.2 |  |  | 232.9 |
Other long-term obligations | $ | 1,884.3 |  |  | $ | 1,933.6 |
Disposal Groups, Including Discontinued Operations | The amounts associated with the biosimilars portfolio classified as held for sale consisted of the following:
|  | As of
(In millions) |  | March 31, 2022
Assets held for sale |  |
Accounts receivable, net |  | $ | 136.1 |
Inventories |  | 122.4 |
Prepaid expenses and other current assets |  | 12.5 |
Intangible assets, net |  | 7.5 |
Goodwill |  | 953.0 |
Other assets |  | 105.6 |
Total assets held for sale |  | $ | 1,337.1 |
Liabilities held for sale |  |
Accounts payable |  | $ | 95.4 |
Other current liabilities |  | 182.3 |
Total liabilities held for sale |  | $ | 277.7 |

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