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Balance Sheet Components

3 Months Ended

Mar. 31, 2023

Balance Sheet Components [Abstract]

Balance Sheet Components

Balance Sheet Components

Selected balance sheet components consist of the following:

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

(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

(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

Prepaid expenses consist primarily of prepaid rent, insurance and other individually insignificant items.

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

(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

(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

(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 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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- Definition

The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//210/tableOfContent

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- Definition

Balance Sheet Components

+ References

No definition available.

+ Details

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