XML 40 R31.htm IDEA: XBRL DOCUMENT
v3.22.1

Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Debt Disclosure [Abstract] |
Summary of Long-Term Debt | A summary of long-term debt is as follows:
($ in millions) | Interest Rate as of March 31, 2022 |  | March 31, 2022 |  | December 31, 2021
Current portion of long-term debt: |  |  |  |  |
2022 Euro Senior Notes **** | 0.816 | % |  | $ | 831.8 |  |  | $ | 856.6 |
2022 Senior Notes *** | 1.125 | % |  | 1,001.4 |  |  | 1,002.9 |
2023 Senior Notes (a) * | 3.125 | % |  | 762.2 |  |  | — |
Other |  |  | 0.9 |  |  | 0.9 |
Deferred financing fees |  |  | (0.9) |  |  | (0.1) |
Current portion of long-term debt |  |  | $ | 2,595.4 |  |  | $ | 1,860.3 |
Non-current portion of long-term debt: |  |  |  |  |
2023 Senior Notes (a) * | 3.125 | % |  | — |  |  | 766.1 |
2023 Senior Notes * | 4.200 | % |  | 499.6 |  |  | 499.6 |
2024 Euro Senior Notes ** | 2.250 | % |  | 1,105.7 |  |  | 1,135.8 |
2024 Euro Senior Notes **** | 1.023 | % |  | 846.5 |  |  | 871.6 |
2025 Euro Senior Notes * | 2.125 | % |  | 552.7 |  |  | 567.8 |
2025 Senior Notes *** | 1.650 | % |  | 762.4 |  |  | 763.4 |
2026 Senior Notes ** | 3.950 | % |  | 2,241.9 |  |  | 2,241.4 |
2027 Euro Senior Notes **** | 1.362 | % |  | 984.0 |  |  | 1,013.0 |
2027 Senior Notes *** | 2.300 | % |  | 779.4 |  |  | 780.8 |
2028 Euro Senior Notes ** | 3.125 | % |  | 825.0 |  |  | 847.4 |
2028 Senior Notes * | 4.550 | % |  | 748.8 |  |  | 748.7 |
2030 Senior Notes *** | 2.700 | % |  | 1,518.6 |  |  | 1,520.5 |
2032 Euro Senior Notes **** | 1.908 | % |  | 1,502.8 |  |  | 1,546.6 |
2040 Senior Notes *** | 3.850 | % |  | 1,655.4 |  |  | 1,657.1 |
2043 Senior Notes * | 5.400 | % |  | 497.3 |  |  | 497.3 |
2046 Senior Notes ** | 5.250 | % |  | 999.9 |  |  | 999.9 |
2048 Senior Notes * | 5.200 | % |  | 747.8 |  |  | 747.8 |
2050 Senior Notes *** | 4.000 | % |  | 2,204.0 |  |  | 2,205.1 |
YEN Term Loan Facility |  |  | 328.7 |  |  | 347.6 |
Other |  |  | 1.9 |  |  | 1.9 |
Deferred financing fees |  |  | (39.9) |  |  | (42.3) |
Long-term debt |  |  | $ | 18,762.5 |  |  | $ | 19,717.1 |
____________ (a) In the first quarter of 2020, the Company terminated interest rate swaps designated as a fair value hedge resulting in net proceeds of approximately $45 million. The fair value adjustment is being amortized to interest expense over the remaining term of the notes. * Instrument was issued by Mylan Inc. ** Instrument was originally issued by Mylan N.V.; now held by Utah Acquisition Sub Inc. *** Instrument was issued by Viatris Inc. **** Instrument was issued by Upjohn Finance B.V.
Minimum Repayments on Outstanding Borrowings | Mandatory minimum repayments remaining on the notional amount of outstanding long-term debt at March 31, 2022 were as follows for each of the periods ending December 31:
(In millions) | Total
2022 | $ | 1,830 |
2023 | 1,250 |
2024 | 1,937 |
2025 | 1,303 |
2026 | 2,579 |
Thereafter | 11,854 |
Total | $ | 20,753 |
Schedule of Short-term Debt | Short-Term Borrowings The Company had $655.4 million and $1.49 billion of short-term borrowings as of March 31, 2022 and December 31, 2021, respectively.
(In millions) | March 31, 2022 |  | December 31, 2021
Commercial paper notes | $ | 328.5 |  |  | $ | 1,173.4 |
Receivables Facility | 325.5 |  |  | 318.5 |
Other | 1.4 |  |  | 1.1 |
Short-term borrowings | $ | 655.4 |  |  | $ | 1,493.0 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration