The following table summarizes share-based compensation expense included in our condensed consolidated statements of income:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(In millions)	2025		2024		2025		2024
Research and development	$	30.1	$	27.3	$	62.2	$	54.7
Selling, general and administrative	48.0		45.6		100.0		89.6

Subtotal	78.1		72.9		162.2		144.3
Capitalized share-based compensation costs	(3.2)		(2.3)		(6.3)		(5.6)
Share-based compensation expense included in total cost and expense	74.9		70.6		155.9		138.7
Income tax effect	(14.9)		(13.4)		(30.9)		(26.3)
Share-based compensation expense included in net income attributable to Biogen Inc.	$	60.0	$	57.2	$	125.0	$	112.4

The following table summarizes share-based compensation expense associated with each of our share-based compensation programs:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(In millions)	2025		2024		2025		2024
Time-vested restricted stock units	$	60.6	$	58.3	$	126.7	$	115.6


Performance stock units settled in stock	15.0		11.7		28.6		22.2
Employee stock purchase plan	1.6		1.8		5.1		6.3
Performance stock units settled in cash	—		0.1		—		(2.0)
Stock options	0.9		0.9		1.8		1.8
Market stock units	—		0.1		—		0.4


Subtotal	78.1		72.9		162.2		144.3
Capitalized share-based compensation costs	(3.2)		(2.3)		(6.3)		(5.6)
Share-based compensation expense included in total cost and expense	$	74.9	$	70.6	$	155.9	$	138.7