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Balance Sheet Components | 6 Months Ended
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Jun. 30, 2025
Balance Sheet Components [Abstract] |
Balance Sheet Components | Balance Sheet Components Selected balance sheet components consist of the following: Cash and restricted cash
(In millions) | June 30, 2025 |  | December 31, 2024 |  | June 30, 2024
Cash and cash equivalents | $ | 566.4 |  |  | $ | 734.8 |  |  | $ | 917.2 |
Restricted cash, included in prepaid expenses and other current assets | 1.4 |  |  | 1.3 |  |  | 1.3 |
Cash, cash equivalents and restricted cash | $ | 567.8 |  |  | $ | 736.1 |  |  | $ | 918.5 |
Inventories
(In millions) | June 30, 2025 |  | December 31, 2024
Raw materials | $ | 1,547.4 |  |  | $ | 1,345.9 |
Work in process | 531.7 |  |  | 527.3 |
Finished goods | 2,185.2 |  |  | 1,980.9 |
Inventories | $ | 4,264.3 |  |  | $ | 3,854.1 |
Prepaid expenses and other current assets
(In millions) | June 30, 2025 |  | December 31, 2024
Prepaid expenses | $ | 179.9 |  |  | $ | 140.9 |
Available-for-sale fixed income securities | 39.7 |  |  | 38.0 |
Fair value of financial instruments | 142.4 |  |  | 261.6 |
Equity securities | 60.1 |  |  | 55.5 |
Deferred charge for taxes on intercompany profit | 665.1 |  |  | 526.6 |
Income tax receivable | 339.2 |  |  | 300.7 |
Other current assets | 259.4 |  |  | 387.2 |
Prepaid expenses and other current assets | $ | 1,685.8 |  |  | $ | 1,710.5 |
Prepaid expenses consist primarily of prepaid rent, insurance and other individually insignificant items. Property, plant and equipment, net
(In millions) | June 30, 2025 |  | December 31, 2024
Machinery and equipment | $ | 3,040.1 |  |  | $ | 2,894.7 |
Buildings and improvements | 1,519.9 |  |  | 1,464.3 |
Construction in progress | 390.2 |  |  | 397.1 |
Land and improvements | 117.0 |  |  | 113.2 |
Gross property, plant and equipment | 5,067.2 |  |  | 4,869.3 |
Accumulated depreciation | 2,424.6 |  |  | 2,203.2 |
Property, plant and equipment, net | $ | 2,642.6 |  |  | $ | 2,666.1 |
Other assets
(In millions) | June 30, 2025 |  | December 31, 2024
CCPS in Biocon Biologics | 950.0 |  |  | 1,349.8 |
Operating lease right-of-use assets | 276.3 |  |  | 253.1 |
Other long-term assets | 771.6 |  |  | 754.0 |
Other assets | $ | 1,997.9 |  |  | $ | 2,356.9 |
Accounts payable
(In millions) | June 30, 2025 |  | December 31, 2024
Trade accounts payable | $ | 1,320.0 |  |  | $ | 1,355.3 |
Other payables | 462.6 |  |  | 498.4 |
Accounts payable | $ | 1,782.6 |  |  | $ | 1,853.7 |
Other current liabilities
(In millions) | June 30, 2025 |  | December 31, 2024
Accrued sales allowances | $ | 1,046.3 |  |  | $ | 989.4 |
Payroll and employee benefit liabilities | 567.8 |  |  | 729.3 |
Legal and professional accruals, including litigation accruals | 540.8 |  |  | 472.8 |
Contingent consideration | 37.1 |  |  | 59.5 |
Accrued restructuring | 44.7 |  |  | 63.4 |
Accrued interest | 46.0 |  |  | 49.9 |
Fair value of financial instruments | 377.0 |  |  | 125.8 |
Operating lease liability | 111.6 |  |  | 87.1 |
Other | 898.8 |  |  | 1,147.5 |
Other current liabilities | $ | 3,670.1 |  |  | $ | 3,724.7 |
Other long-term obligations
(In millions) | June 30, 2025 |  | December 31, 2024
Employee benefit liabilities | $ | 487.8 |  |  | $ | 467.9 |
Contingent consideration | 330.1 |  |  | 496.6 |
Tax related items, including contingencies | 320.6 |  |  | 341.9 |
Operating lease liability | 182.0 |  |  | 179.3 |
Accrued restructuring | 129.7 |  |  | 128.5 |
Other | 385.0 |  |  | 325.0 |
Other long-term obligations | $ | 1,835.2 |  |  | $ | 1,939.2 |

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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 + Details
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- Definition Balance Sheet Components + References No definition available. + Details
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