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v3.23.1

Balance Sheet Components (Tables) | 3 Months Ended
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Mar. 31, 2023
Balance Sheet Components [Abstract] |
Schedule of Cash, cash equivalents, and restricted cash | Cash and restricted cash
(In millions) | March 31, 2023 |  | December 31, 2022 |  | March 31, 2022
Cash and cash equivalents | $ | 506.6 |  |  | $ | 1,259.9 |  |  | $ | 752.4 |
Restricted cash, included in prepaid expenses and other current assets | 4.1 |  |  | 2.6 |  |  | 5.0 |
Cash, cash equivalents and restricted cash | $ | 510.7 |  |  | $ | 1,262.5 |  |  | $ | 757.4 |
Inventories | Inventories
(In millions) | March 31, 2023 |  | December 31, 2022
Raw materials | $ | 667.4 |  |  | $ | 571.5 |
Work in process | 697.4 |  |  | 755.4 |
Finished goods | 2,299.5 |  |  | 2,192.6 |
Inventories | $ | 3,664.3 |  |  | $ | 3,519.5 |
Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets
(In millions) | March 31, 2023 |  | December 31, 2022
Prepaid expenses | $ | 239.7 |  |  | $ | 194.6 |
Available-for-sale fixed income securities | 36.0 |  |  | 35.3 |
Fair value of financial instruments | 92.5 |  |  | 134.7 |
Equity securities | 45.0 |  |  | 42.6 |
Other current assets | 1,350.4 |  |  | 1,404.0 |
Prepaid expenses and other current assets | $ | 1,763.6 |  |  | $ | 1,811.2 |
Property, Plant and Equipment | Property, plant and equipment, net
(In millions) | March 31, 2023 |  | December 31, 2022
Machinery and equipment | $ | 3,051.3 |  |  | $ | 2,936.7 |
Buildings and improvements | 1,548.0 |  |  | 1,539.7 |
Construction in progress | 410.8 |  |  | 474.0 |
Land and improvements | 135.0 |  |  | 133.4 |
Gross property, plant and equipment | 5,145.1 |  |  | 5,083.8 |
Accumulated depreciation | 2,137.3 |  |  | 2,059.3 |
Property, plant and equipment, net | $ | 3,007.8 |  |  | $ | 3,024.5 |
Other Assets | Other assets
(In millions) | March 31, 2023 |  | December 31, 2022
Non-marketable equity investments | $ | 78.6 |  |  | $ | 94.0 |
Deferred consideration due from Biocon Biologics | 305.9 |  |  | 299.5 |
CCPS in Biocon Biologics | 1,000.0 |  |  | 997.4 |
Operating lease right-of-use assets | 253.8 |  |  | 259.3 |
Other long-term assets | 779.9 |  |  | 753.3 |
Other assets | $ | 2,418.2 |  |  | $ | 2,403.5 |
Accounts payable | Accounts payable
(In millions) | March 31, 2023 |  | December 31, 2022
Trade accounts payable | $ | 1,415.4 |  |  | $ | 1,158.0 |
Other payables | 542.1 |  |  | 608.6 |
Accounts payable | $ | 1,957.5 |  |  | $ | 1,766.6 |
Other Current Liabilities | Other current liabilities
(In millions) | March 31, 2023 |  | December 31, 2022
Accrued sales allowances | $ | 851.5 |  |  | $ | 888.8 |
Legal and professional accruals, including litigation accruals | 288.8 |  |  | 297.2 |
Payroll and employee benefit liabilities | 617.7 |  |  | 746.8 |
Contingent consideration | 65.4 |  |  | 64.4 |
Accrued restructuring | 74.6 |  |  | 95.3 |
Accrued interest | 214.0 |  |  | 80.2 |
Fair value of financial instruments | 98.5 |  |  | 187.0 |
Due to Biocon Biologics | 32.1 |  |  | 22.5 |
Operating lease liability | 83.5 |  |  | 80.6 |
Other | 866.7 |  |  | 978.1 |
Other current liabilities | $ | 3,192.8 |  |  | $ | 3,440.9 |
Other Noncurrent Liabilities | Other long-term obligations
(In millions) | March 31, 2023 |  | December 31, 2022
Employee benefit liabilities | $ | 542.1 |  |  | $ | 544.6 |
Contingent consideration (1) | 307.1 |  |  | 310.6 |
Tax related items, including contingencies | 418.0 |  |  | 414.6 |
Operating lease liability | 173.2 |  |  | 181.4 |
Accrued restructuring | 58.0 |  |  | 60.4 |
Other | 221.4 |  |  | 244.9 |
Other long-term obligations | $ | 1,719.8 |  |  | $ | 1,756.5 |

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