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Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2023

Balance Sheet Components [Abstract]

Schedule of Cash, cash equivalents, and restricted cash

Cash and restricted cash

(In millions)			June 30, 2023						December 31, 2022						June 30, 2022
Cash and cash equivalents			$	629.2					$	1,259.9					$	664.7
Restricted cash, included in prepaid expenses and other current assets			2.2						2.6						4.7
Cash, cash equivalents and restricted cash			$	631.4					$	1,262.5					$	669.4

Inventories

Inventories

(In millions)			June 30, 2023						December 31, 2022
Raw materials			$	417.5					$	571.5
Work in process			1,132.2						755.4
Finished goods			2,091.8						2,192.6
Inventories			$	3,641.5					$	3,519.5

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets

(In millions)			June 30, 2023						December 31, 2022
Prepaid expenses			$	205.8					$	194.6
Deferred consideration due from Biocon Biologics			164.8						—
Available-for-sale fixed income securities			35.5						35.3
Fair value of financial instruments			94.6						134.7
Equity securities			46.7						42.6
Other current assets			1,177.7						1,404.0
Prepaid expenses and other current assets			$	1,725.1					$	1,811.2

Property, Plant and Equipment

Property, plant and equipment, net

(In millions)			June 30, 2023						December 31, 2022
Machinery and equipment			$	3,011.0					$	2,936.7
Buildings and improvements			1,502.8						1,539.7
Construction in progress			407.3						474.0
Land and improvements			125.1						133.4
Gross property, plant and equipment			5,046.2						5,083.8
Accumulated depreciation			2,063.0						2,059.3
Property, plant and equipment, net			$	2,983.2					$	3,024.5

Other Assets

Other assets

(In millions)			June 30, 2023						December 31, 2022
Non-marketable equity investments			$	154.2					$	94.0
Deferred consideration due from Biocon Biologics			146.1						299.5
CCPS in Biocon Biologics			1,028.9						997.4
Operating lease right-of-use assets			250.4						259.3
Other long-term assets			771.5						753.3
Other assets			$	2,351.1					$	2,403.5

Accounts payable

Accounts payable

(In millions)			June 30, 2023						December 31, 2022
Trade accounts payable			$	1,309.6					$	1,158.0
Other payables			652.4						608.6
Accounts payable			$	1,962.0					$	1,766.6

Other Current Liabilities

Other current liabilities

(In millions)			June 30, 2023						December 31, 2022
Accrued sales allowances			$	880.2					$	888.8
Legal and professional accruals, including litigation accruals			252.1						297.2
Payroll and employee benefit liabilities			672.0						746.8
Contingent consideration			63.7						64.4
Accrued restructuring			47.2						95.3
Accrued interest			64.2						80.2
Fair value of financial instruments			98.7						187.0
Due to Biocon Biologics			11.6						22.5
Operating lease liability			85.3						80.6
Other			871.1						978.1
Other current liabilities			$	3,046.1					$	3,440.9

Other Noncurrent Liabilities

Other long-term obligations

(In millions)			June 30, 2023						December 31, 2022
Employee benefit liabilities			$	530.5					$	544.6
Contingent consideration (1)			315.4						310.6
Tax related items, including contingencies			393.1						414.6
Operating lease liability			166.9						181.4
Accrued restructuring			60.4						60.4
Other			208.0						244.9
Other long-term obligations			$	1,674.3					$	1,756.5

(1)    Balances as of June 30, 2023 and December 31, 2022 include $228.4 million and $221.2 million, respectively, due to Biocon Biologics. Refer to Note 11 Financial Instruments and Risk Management for additional information.

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