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Equity
 6 Months Ended
Jun. 30, 2022
Stockholders' Equity Note [Abstract]  
Equity Equity
Repurchase programs
On November 11, 2021, the Company announced that its Board of Directors authorized management to repurchase up to an aggregate of $250.0 million of Common Stock under a board-approved Share Repurchase Program, of which $187.9 million has been utilized to purchase 4.4 million shares as of June 30, 2022. During the three and six months ended June 30, 2022, the Company has utilized $23.3 million and $75.5 million to purchase 0.7 million and 1.8 million shares, respectively. The Share Repurchase Program does not obligate the Company to acquire any specific number of shares. Repurchased shares will be available for use in connection with our stock plans and for other corporate purposes.
Share-based compensation
During the six months ended June 30, 2022, the Company granted stock options to purchase 0.6 million shares of common stock and 1.4 million restricted and performance stock units under the Emergent BioSolutions Inc. Stock Incentive Plan. Typically, the stock option and restricted stock unit grants vest over three equal annual installments beginning on the day prior to the anniversary of the grant date. The performance stock units settle in stock at the end
of the three-year performance period based on the Company's results compared to the performance criteria. Share-based compensation expense was recorded in the following financial statement line items:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Cost of product sales$1.9 $1.7 $3.6 $3.2 
Cost of contract development and manufacturing0.6 0.3 1.0 0.5 
Research and development1.5 1.7 2.6 3.1 
Selling, general and administrative8.3 7.7 15.0 15.1 
Total share-based compensation expense$12.3 $11.4 $22.2 $21.9 
Accumulated other comprehensive loss, net of tax
The following table includes changes in accumulated other comprehensive loss, net of tax by component:
Defined Benefit Pension Plan
Derivative InstrumentsForeign Currency Translation AdjustmentsTotal
(in millions, net of tax)
Balance, December 31, 2021
$(4.0)$(4.5)$(7.6)$(16.1)
Other comprehensive income before reclassifications— 6.8 0.9 7.7 
Amounts reclassified from accumulated other comprehensive loss— 2.3 — 2.3 
Net current period other comprehensive income— 9.1 0.9 10.0 
Balance, June 30, 2022
$(4.0)$4.6 $(6.7)$(6.1)
Balance, March 31, 2022
$(4.0)$1.8 $(7.1)$(9.3)
Other comprehensive income before reclassifications— 1.9 0.4 2.3 
Amounts reclassified from accumulated other comprehensive loss— 0.9 — 0.9 
Net current period other comprehensive income— 2.8 0.4 3.2 
Balance, June 30, 2022
$(4.0)$4.6 $(6.7)$(6.1)
Balance, December 31, 2020
$(7.7)$(11.0)$(6.6)$(25.3)
Other comprehensive income (loss) before reclassifications— 1.6 (1.7)(0.1)
Amounts reclassified from accumulated other comprehensive loss— 3.0 — 3.0 
Net current period other comprehensive income (loss)(7.7)4.6 (1.7)2.9 
Balance, June 30, 2021
$(7.7)$(6.4)$(8.3)$(22.4)
Balance, March 31, 2021
$(7.7)$(7.9)$(8.8)$(24.4)
Other comprehensive income (loss) before reclassifications— (0.1)0.5 0.4 
Amounts reclassified from accumulated other comprehensive loss— 1.6 — 1.6 
Net current period other comprehensive incomeNet current period other comprehensive income (loss)— 1.5 0.5 2.0 
Balance, June 30, 2021
$(7.7)$(6.4)$(8.3)$(22.4)
The following table presents the tax effects related to each component of other comprehensive income (loss):
Three Months EndedJune 30, 2022June 30, 2021
PretaxTax Benefit (Expense)Net of taxPretaxTax Benefit (Expense)Net of tax
Derivative Instruments3.8 (1.0)2.8 1.2 0.3 1.5 
Foreign Currency Translation Adjustments1.3 (0.9)0.4 0.5 — 0.5 
Total adjustments$5.1 $(1.9)$3.2 $1.7 $0.3 $2.0 
Six Months EndedJune 30, 2022June 30, 2021
PretaxTax Benefit (Expense)Net of taxPretaxTax Benefit (Expense)Net of tax
Derivative Instruments12.4 (3.3)9.1 3.6 1.0 4.6 
Foreign Currency Translation Adjustments2.0 (1.1)0.9 (1.7)— (1.7)
Total adjustments$14.4 $(4.4)$10.0 $1.9 $1.0 $2.9