v3.26.3
OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS
 9 Months Ended
Sep. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS
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:
September 30,
2026		December 31,
2025
Inventories
Raw materials$218.4 $196.6 
Work in process230.4 252.9 
Finished products710.6 676.7 
$1,159.4 $1,126.2 

At September 30, 2026 and December 31, 2025, $230.1 million and $225.1 million, respectively, of the Company's finished products inventories were held on consignment.

September 30,
2026		December 31,
2025
Other assets
Tax receivable (Note 15)
$414.3 $314.8 
Long-term prepaid royalties87.1 93.3 
Notes and other receivables71.7 173.7 
Acquisition options15.8 125.9 
Fair value of derivatives14.8 5.8 
Other long-term assets29.9 16.7 
$633.6 $730.2 
Accrued and other liabilities
Employee compensation and withholdings$439.7 $467.5 
Taxes payable191.4 192.5 
Accrued rebates184.7 156.6 
Liability under transition services agreement127.8 123.4 
Property, payroll, and other taxes84.9 84.9 
Research and development accruals69.1 69.2 
Legal and insurance accrual
37.1 164.2 
Accrued realignment reserves18.6 23.4 
Unfavorable contract liability14.9 27.2 
Fair value of derivatives7.6 25.3 
Contingent consideration
7.5 — 
Litigation settlement— 50.0 
Other accrued liabilities168.8 177.5 
$1,352.1 $1,561.7 
Supplemental Cash Flow Information
(in millions)
Nine Months Ended
September 30,
20262025
Cash paid during the year for:
Income taxes (Note 15)
$185.3 $458.0 
Amounts included in the measurement of operating lease liabilities$22.6 $21.9 
Non-cash investing and financing transactions:
Right-of-use assets obtained in exchange for new lease liabilities$17.8 $13.3 
Capital expenditures accruals$34.1 $30.6 


Cash, Cash Equivalents, and Restricted Cash
(in millions)
September 30,
2026		December 31,
2025
Cash and cash equivalents$3,110.8 $2,938.0 
Restricted cash included in other current assets0.9 0.5 
Restricted cash included in other assets0.7 1.0 
Total cash, cash equivalents, and restricted cash$3,112.4 $2,939.5 

Intangible Assets

In September 2026, the Company revised the development plan for a certain in-process research and development (“IPR&D”) asset and ceased pursuing the development project for which the asset was originally intended. Although certain aspects of the underlying technology may inform or be incorporated into future research and development activities, specific plans are still under development, and the original IPR&D asset is no longer expected to generate future economic benefit. Accordingly, the Company recorded a $218.4 million charge related to the full impairment of the IPR&D asset. In August 2025, the Company recorded a $40.0 million charge related to the full impairment of a developed technology asset due to management’s determination that the asset was no longer expected to generate future economic benefit. The impairment charges were recognized in Impairment of intangible and long-lived assets within operating income on the condensed consolidated statements of operations during the three and nine months ended September 30, 2026 and 2025.