2. OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS
Composition of Certain Financial Statement Captions (in millions)
Components of selected captions in the condensed consolidated balance sheets consisted of the following: | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Inventories | | | | | Raw materials | $ | 210.5 | | | $ | 196.6 | | | Work in process | 234.8 | | | 252.9 | | | Finished products | 685.9 | | | 676.7 | | | $ | 1,131.2 | | | $ | 1,126.2 | |
At June 30, 2026 and December 31, 2025, $221.9 million and $225.1 million, respectively, of the Company's finished products inventories were held on consignment.
| | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Other assets | | | | Tax receivable (Note 15) | $ | 412.1 | | | $ | 314.8 | | | Notes and other receivables | 68.8 | | | 173.7 | | | Acquisition options | 11.7 | | | 125.9 | | | Long-term prepaid royalties | 89.2 | | | 93.3 | | | Fair value of derivatives | 14.6 | | | 5.8 | | | Other long-term assets | 20.0 | | | 16.7 | | | $ | 616.4 | | | $ | 730.2 | | | | | | | Accrued and other liabilities | | | | | | | | | Employee compensation and withholdings | $ | 372.9 | | | $ | 467.5 | | | Taxes payable | 192.9 | | | 192.5 | | | Accrued rebates | 163.5 | | | 156.6 | | | Liability under transition services agreement | 113.9 | | | 123.4 | | | Property, payroll, and other taxes | 77.6 | | | 84.9 | | Legal and insurance accrual | 72.4 | | | 164.2 | | | Research and development accruals | 69.0 | | | 69.2 | | | Unfavorable contract liability | 20.3 | | | 27.2 | | | Accrued realignment reserves | 19.5 | | | 23.4 | | Contingent consideration | 7.5 | | | — | | | | | | | | | | | | | | | | | | | Fair value of derivatives | 6.3 | | | 25.3 | | | Litigation settlement | — | | | 50.0 | | | | | | | | | | | Other accrued liabilities | 157.5 | | | 177.5 | | | $ | 1,273.3 | | | $ | 1,561.7 | |
Supplemental Cash Flow Information (in millions) | | | | | | | | | | | | | Six Months Ended
June 30, | | 2026 | | 2025 | | Cash paid during the year for: | | | | Income taxes (Note 15) | $ | 105.4 | | | $ | 375.7 | | | Amounts included in the measurement of operating lease liabilities | $ | 15.0 | | | $ | 14.5 | | | Non-cash investing and financing transactions: | | | | | | | | | | | | | | | | | Right-of-use assets obtained in exchange for new lease liabilities | $ | 11.6 | | | $ | 8.7 | | | Capital expenditures accruals | $ | 34.6 | | | $ | 31.9 | | | | | | | | | |
Cash, Cash Equivalents, and Restricted Cash (in millions) | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | | | | | Cash and cash equivalents | $ | 2,906.5 | | | $ | 2,938.0 | | | Restricted cash included in other current assets | 2.4 | | | 0.5 | | | Restricted cash included in other assets | 0.8 | | | 1.0 | | | Total cash, cash equivalents, and restricted cash | $ | 2,909.7 | | | $ | 2,939.5 | | | | | | | | | | | | | | | | | |
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