
	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(In millions)	2026		2025		2026		2025
Interest income	$	(25.3)	$	(32.3)	$	(63.2)	$	(56.2)
Interest expense	82.3		72.6		149.9		132.6
(Gains) losses on investments, net	(41.6)		(5.3)		(63.9)		30.3
Litigation related expense	(0.4)		5.2		4.3		8.2
Foreign exchange (gains) losses, net	6.5		10.4		13.0		6.6
Other, net	(3.0)		(1.9)		(1.9)		(4.4)
Total other (income) expense, net	$	18.5	$	48.7	$	38.2	$	117.1

The (gains) losses on investments, net, as reflected in the table above, relate to debt securities, equity securities of certain biotechnology companies, venture capital funds where the underlying investments are in equity securities of certain biotechnology companies and non-marketable equity securities.

The following table summarizes our (gains) losses on investments, net that relate to our equity securities held during the following periods:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(In millions)	2026		2025		2026		2025
Net (gains) losses recognized on equity securities	$	(42.8)	$	(5.3)	$	(65.1)	$	30.3
Less: Net (gains) losses realized on equity securities	—		—		(3.2)		(5.4)
Net unrealized (gains) losses recognized on equity securities	$	(42.8)	$	(5.3)	$	(61.9)	$	35.7

The net unrealized gains recognized during the three months ended June 30, 2026, primarily reflect an increase in the aggregate fair value of our investment in Denali common stock of approximately $46.7 million.

The net unrealized gains recognized during the three months ended June 30, 2025, primarily reflect an increase in the aggregate fair value of our investments in Sage and Denali common stock of approximately $10.1 million. Sage was later disposed of during the third quarter of 2025.

The net unrealized gains recognized during the six months ended June 30, 2026, primarily reflect an increase in the aggregate fair value of our investment in Denali common stock of approximately $65.9 million.

The net unrealized losses recognized during the six months ended June 30, 2025, primarily reflect a decrease in the aggregate fair value of our investments in Denali common stock of approximately $45.7 million, partially offset by an increase in the fair value of Sage common stock of approximately $23.0 million. Sage was later disposed of during the third quarter of 2025.

Other current assets includes prepaid taxes of $648.9 million and $693.6 million as of June 30, 2026 and December 31, 2025, respectively.


(In millions)	As of June 30, 2026		As of December 31, 2025
Revenue-related reserves for discounts and allowances	$	980.2	$	1,000.4
Employee compensation and benefits	391.3		375.8
Collaboration expense	198.8		280.0
Royalties and licensing fees	337.8		302.4



Other	718.2		844.0
Total accrued expense and other	$	2,626.3	$	2,802.6

For additional information on our acquisition of Apellis, please read Note 2, Acquisitions, to these condensed consolidated financial statements.