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Share-based compensation and stockholders' equity
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Share-based compensation and stockholders' equity Share-based compensation and stockholders' equity
Share-based compensation
The Company’s share-based compensation expense relates to stock options, performance stock options, restricted stock units, performance stock units and liability classified long-term incentive awards. During the six months ended June 30, 2024, the Company granted stock options to purchase 4.0 million shares of common stock; performance stock options subject to market conditions, to purchase 0.8 million shares of common stock; and 0.2 million restricted stock units. The grants were made under the Emergent BioSolutions Inc. Amended and Restated Stock Incentive Plan and the Emergent BioSolutions Inc. Inducement Plan. Additionally, during the six months ended June 30, 2024, the Company granted an $8.0 million long-term incentive award, subject to market conditions, with the option to settle in any combination of cash or shares, which is accounted for as a liability classified award. The performance stock options and the long-term incentive award were valued using Monte Carlo valuation models, and both have a performance period of five years to vest based on the Company’s stock price performance. The long-term incentive award will be revalued at each reporting period until the award is earned or expires. The Company’s other equity awards typically vest over three equal annual installments beginning on the day prior to the anniversary of the grant date. The performance stock units settle in stock at the end of the three-year performance period based on the Company's results compared to the performance criteria. During the six months ended June 30, 2024, 0.2 million stock options and 0.1 million restricted stock units were forfeited prior to the completion of the applicable vesting requirements or expiration. An immaterial number of performance stock units were forfeited during the six months ended June 30, 2024.
Share-based compensation expense, net of forfeitures was recorded in the following financial statement line items:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of Commercial Product sales$— $— $— $0.1 
Cost of MCM Product sales0.6 1.2 1.3 2.5 
Cost of Bioservices0.2 0.3 0.3 0.6 
R&D0.5 0.4 1.0 1.1 
Selling, general and administrative4.2 6.4 8.8 10.8 
Total share-based compensation expense$5.5 $8.3 $11.4 $15.1 
Stockholders' equity
At-the-Market Equity Offering Facility
The Company may, from time to time, sell up to $150.0 million aggregate gross sales price of shares of its common stock through Evercore Group L.L.C. and RBC Capital Markets, LLC, as sales agents, under an “at-the-market” equity offering program (the “ATM Program”) that was entered into on May 17, 2023. There were no sales of the Company’s common stock under the ATM Program during the three months ended June 30, 2024. The Company’s Registration Statement on Form S-3 expires on August 9, 2024 and the Company is not eligible to file a new Registration Statement on Form S-3 until 2025 due to the delayed filing of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2023. The Company will not be eligible to sell any shares under the ATM Program until a new Registration Statement is filed and becomes effective. During the second quarter of 2023, the Company sold 1.1 million shares of the Company’s common stock under the ATM Program for gross proceeds of $9.1 million, representing an average share price of $8.22 per share. As of June 30, 2024, $140.9 million aggregate gross sales price of shares of the Company’s common stock remains available for issuance under the ATM Program. The Company intends to use proceeds obtained from the sale of shares under the ATM Program for general corporate purposes.
Accumulated other comprehensive income (loss), net of tax
The following table includes changes in accumulated other comprehensive income (loss), net of tax by component:
Defined Benefit Pension PlanDerivative InstrumentsForeign Currency
 Translation Adjustments		Total
Balance at December 31, 2023
$— $— $(5.7)$(5.7)
Other comprehensive income before reclassifications— — 0.2 0.2 
Net current period other comprehensive income— — 0.2 0.2 
Balance at March 31, 2024$— $— $(5.5)$(5.5)
Other comprehensive income (loss) before reclassifications— — — — 
Net current period other comprehensive loss
— — — — 
Balance at June 30, 2024$— $— $(5.5)$(5.5)
Balance at December 31, 2022
$3.5 $6.2 $(6.6)$3.1 
Other comprehensive loss before reclassifications— (4.4)(0.1)(4.5)
Amounts reclassified from accumulated other comprehensive income— 2.4 — 2.4 
Net current period other comprehensive loss— (2.0)(0.1)(2.1)
Balance at March 31, 2023$3.5 $4.2 $(6.7)$1.0 
Other comprehensive income before reclassifications— 1.2 2.6 3.8 
Amounts reclassified from accumulated other comprehensive loss(3.5)(2.9)— (6.4)
Net current period other comprehensive income (loss)(3.5)(1.7)2.6 (2.6)
Balance at June 30, 2023$— $2.5 $(4.1)$(1.6)
The tables below present the tax effects related to each component of other comprehensive income (loss):
Three Months Ended June 30,
20242023
PretaxTax ExpenseNet of taxPretaxTax ExpenseNet of tax
Defined benefit pension plan$— $— $— $(4.1)$0.6 $(3.5)
Derivative instruments— — — (2.4)0.7 (1.7)
Foreign currency translation adjustments— — — 2.1 0.5 2.6 
Total adjustments$— $— $— $(4.4)$1.8 $(2.6)
Six Months Ended June 30,
20242023
PretaxTax ExpenseNet of taxPretaxTax ExpenseNet of tax
Defined benefit pension plan$— $— $— $(4.1)$0.6 $(3.5)
Derivative instruments— — — (5.0)1.3 (3.7)
Foreign currency translation adjustments0.2 — 0.2 2.0 0.5 2.5 
Total adjustments$0.2 $— $0.2 $(7.1)$2.4 $(4.7)