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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 28, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	0-27756
Entity Registrant Name	ALEXION PHARMACEUTICALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3648318
Entity Address, Address Line One	121 Seaport Boulevard
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02210
City Area Code	475
Local Phone Number	230-2596
Title of 12(b) Security	Common Stock $0.0001 par value
Trading Symbol	ALXN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000899866
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		219,172,983
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 2,825.0	$ 2,685.5
Marketable securities	26.8	64.0
Trade accounts receivable, net	1,372.2	1,243.2
Inventories	577.7	627.6
Prepaid expenses and other current assets	566.2	456.1
Total current assets	5,367.9	5,076.4
Property, plant and equipment, net	1,196.4	1,163.3
Intangible assets, net	2,059.7	3,344.3
Goodwill	5,075.2	5,037.4
Right of use operating assets	209.9	204.0
Deferred tax assets	2,332.4	2,290.2
Other assets	461.7	429.0
Total assets	16,703.2	17,544.6
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	861.6	966.7
Current portion of long-term debt	126.8	126.7
Other current liabilities	131.7	100.9
Total current liabilities	1,120.1	1,194.3
Long-term debt, less current portion	2,311.6	2,375.0
Contingent consideration	374.7	192.4
Deferred tax liabilities	1,946.8	2,081.4
Noncurrent operating lease liabilities	169.4	164.1
Other liabilities	289.8	265.6
Total liabilities	6,212.4	6,272.8
Commitments and contingencies (Note 16)
Stockholders' Equity:
Common stock, $0.0001 par value; 290.0 shares authorized; 239.2 and 237.8 shares issued at June 30, 2020 and December 31, 2019, respectively	0.0	0.0
Additional paid-in capital	8,942.4	8,804.7
Treasury stock, at cost, 20.1 and 16.5 shares at June 30, 2020 and December 31, 2019, respectively	(2,470.0)	(2,105.9)
Accumulated other comprehensive loss	(110.9)	(66.8)
Retained earnings	4,129.3	4,639.8
Total stockholders' equity	10,490.8	11,271.8
Total liabilities and stockholders' equity	$ 16,703.2	$ 17,544.6

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	290.0	290.0
Common stock, shares issued	239.2	237.8
Treasury Stock, Shares	20.1	16.5

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenues	$ 1,444.6	$ 1,203.3	$ 2,889.4	$ 2,343.7
Costs and expenses:
Cost of sales (exclusive of amortization of purchased intangible assets)	144.9	99.2	256.6	185.0
Research and development	221.1	187.6	422.0	383.5
Selling, general and administrative	301.4	299.3	621.3	580.8
Acquired in-process research and development	0.0	(4.1)	0.0	(4.1)
Amortization of purchased intangible assets	73.7	80.1	147.4	160.1
Change in fair value of contingent consideration	15.8	6.1	21.6	(22.6)
Acquisition-related costs	4.6	0.0	42.7	0.0
Restructuring expenses	0.0	2.5	(0.8)	11.6
Impairment of intangible assets	2,053.3	0.0	2,053.3	0.0
Total costs and expenses	2,814.8	670.7	3,564.1	1,294.3
Operating (loss) income	(1,370.2)	532.6	(674.7)	1,049.4
Other income and expense:
Investment income (expense)	41.5	(14.9)	36.3	27.6
Interest expense	(23.6)	(18.3)	(49.4)	(38.2)
Other income and (expense)	0.2	0.1	(0.7)	2.5
(Loss) income before income taxes	(1,352.1)	499.5	(688.5)	1,041.3
Income tax (benefit) expense	(284.0)	39.7	(178.0)	(6.4)
Net (loss) income	$ (1,068.1)	$ 459.8	$ (510.5)	$ 1,047.7
Earnings (loss) per common share
Basic	$ (4.84)	$ 2.05	$ (2.31)	$ 4.68
Diluted	$ (4.84)	$ 2.04	$ (2.31)	$ 4.64
Shares used in computing earnings (loss) per common share
Basic	220.6	224.2	221.1	224.0
Diluted	220.6	225.6	221.1	225.7
Net Product Sales
Total revenues	$ 1,444.5	$ 1,202.5	$ 2,889.1	$ 2,342.7
Other Revenue
Total revenues	$ 0.1	$ 0.8	$ 0.3	$ 1.0

Condensed Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,068.1)	$ 459.8	$ (510.5)	$ 1,047.7
Other comprehensive loss, net of tax:
Foreign currency translation	1.5	1.5	(6.5)	(0.5)
Unrealized gains on debt securities	0.3	0.0	0.1	0.2
Unrealized losses on hedging activities, net of tax of $(3.3) $(12.1) $(11.5) and $(14.3), respectively	(11.2)	(38.9)	(37.7)	(47.9)
Other comprehensive loss, net of tax	(9.4)	(37.4)	(44.1)	(48.2)
Comprehensive (loss) income	$ (1,077.5)	$ 422.4	$ (554.6)	$ 999.5

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Unrealized loss on hedge, tax effect	$ (3.3)	$ (12.1)	$ (11.5)	$ (14.3)

Condensed Consolidated Statements of Changes in Stockholder's Equity Statement - USD ($) shares in Millions, $ in Millions	Total	Adoption of new accounting standards	Common Stock	Additional Paid-In Capital	Treasury Stock at Cost	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Retained Earnings Adoption of new accounting standards
Balances, common shares at Dec. 31, 2018			236.2
Balances, value at Dec. 31, 2018	$ 9,165.3	$ (90.3)	$ 0.0	$ 8,539.1	$ (1,689.9)	$ (9.7)	$ 2,325.8	$ (90.3)
Balances, treasury shares at Dec. 31, 2018					12.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock, shares	0.4				0.4
Repurchase of common stock	$ (48.9)				$ (48.9)
Issuance of common stock under stock option and stock purchase plans, shares			0.2
Issuance of common stock under stock option and stock purchase plans	21.3			21.3
Issuance of restricted common stock, shares			0.9
Issuance of restricted common stock	0.0
Share-based compensation expense	116.6			116.6
Net (loss) income	1,047.7						1,047.7
Other comprehensive loss	(48.2)					(48.2)
Balances, treasury shares at Jun. 30, 2019					13.1
Balances, value at Jun. 30, 2019	10,163.5		$ 0.0	8,677.0	$ (1,738.8)	(57.9)	3,283.2
Balances, common shares at Jun. 30, 2019			237.3
Balances, common shares at Mar. 31, 2019			237.0
Balances, value at Mar. 31, 2019	$ 9,706.6		$ 0.0	8,604.9	$ (1,701.2)	(20.5)	2,823.4
Balances, treasury shares at Mar. 31, 2019					12.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock, shares	0.3				0.3
Repurchase of common stock	$ (37.6)				$ (37.6)
Issuance of common stock under stock option and stock purchase plans, shares			0.1
Issuance of common stock under stock option and stock purchase plans	11.2			11.2
Issuance of restricted common stock, shares			0.2
Issuance of restricted common stock	0.0
Share-based compensation expense	60.9			60.9
Net (loss) income	459.8						459.8
Other comprehensive loss	(37.4)					(37.4)
Balances, treasury shares at Jun. 30, 2019					13.1
Balances, value at Jun. 30, 2019	10,163.5		$ 0.0	8,677.0	$ (1,738.8)	(57.9)	3,283.2
Balances, common shares at Jun. 30, 2019			237.3
Balances, common shares at Dec. 31, 2019			237.8
Balances, value at Dec. 31, 2019	$ 11,271.8		$ 0.0	8,804.7	$ (2,105.9)	(66.8)	4,639.8
Balances, treasury shares at Dec. 31, 2019	16.5				16.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock, shares	3.6				3.6
Repurchase of common stock	$ (360.8)				$ (360.8)
Issuance of common stock under stock option and stock purchase plans, shares			0.2
Issuance of common stock under stock option and stock purchase plans	12.9			12.9
Issuance of restricted common stock, shares			1.2
Issuance of restricted common stock	0.0
Share-based compensation expense	121.5			124.8	$ (3.3)
Net (loss) income	(510.5)						(510.5)
Other comprehensive loss	$ (44.1)					(44.1)
Balances, treasury shares at Jun. 30, 2020	20.1				20.1
Balances, value at Jun. 30, 2020	$ 10,490.8		$ 0.0	8,942.4	$ (2,470.0)	(110.9)	4,129.3
Balances, common shares at Jun. 30, 2020			239.2
Balances, common shares at Mar. 31, 2020			238.9
Balances, value at Mar. 31, 2020	$ 11,747.8		$ 0.0	8,864.9	$ (2,213.0)	(101.5)	5,197.4
Balances, treasury shares at Mar. 31, 2020					17.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock, shares	2.3				2.3
Repurchase of common stock	$ (253.7)				$ (253.7)
Issuance of common stock under stock option and stock purchase plans, shares			0.1
Issuance of common stock under stock option and stock purchase plans	10.1			10.1
Issuance of restricted common stock, shares			0.2
Issuance of restricted common stock	0.0
Share-based compensation expense	64.1			67.4	$ (3.3)
Net (loss) income	(1,068.1)						(1,068.1)
Other comprehensive loss	$ (9.4)					(9.4)
Balances, treasury shares at Jun. 30, 2020	20.1				20.1
Balances, value at Jun. 30, 2020	$ 10,490.8		$ 0.0	$ 8,942.4	$ (2,470.0)	$ (110.9)	$ 4,129.3
Balances, common shares at Jun. 30, 2020			239.2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash flows from operating activities:
Net (loss) income	$ (1,068.1)	$ 459.8	$ (510.5)	$ 1,047.7
Adjustments to reconcile net (loss) income to net cash flows from operating activities:
Depreciation and amortization			179.1	193.7
Change in fair value of contingent consideration	15.8	6.1	21.6	(22.6)
Share-based compensation expense			125.0	117.6
Deferred taxes (benefit)			(226.6)	(40.8)
Unrealized foreign currency loss (gain)			3.3	(4.1)
Unrealized (gain) loss on forward contracts			(11.5)	11.3
Unrealized gain on strategic equity investments			(25.8)	(8.6)
Inventory obsolescence charge			17.2	0.0
Impairment of intangible assets	2,053.3	0.0	2,053.3	0.0
Other			10.5	(2.3)
Changes in operating assets and liabilities, excluding the effect of acquisitions:
Accounts receivable			(137.6)	(196.4)
Inventories			(15.1)	(24.0)
Prepaid expenses, right of use operating assets and other assets			(54.8)	(126.8)
Accounts payable, accrued expenses, lease liabilities and other liabilities			(88.5)	23.6
Net cash provided by operating activities			1,339.6	968.3
Cash flows from investing activities:
Purchases of available-for-sale debt securities			(19.4)	(41.1)
Proceeds from maturity or sale of available-for-sale debt securities			166.3	139.3
Purchases of mutual funds related to nonqualified deferred compensation plan			(9.5)	(10.9)
Proceeds from sale of mutual funds related to nonqualified deferred compensation plan			5.3	9.0
Purchases of property, plant and equipment			(18.4)	(82.8)
Payment for acquisition of business, net of cash acquired			(837.7)	0.0
Purchases of strategic equity investments and options			(38.1)	(43.8)
Purchase of intangible assets			0.0	(8.0)
Other			0.0	0.2
Net cash used in investing activities			(751.5)	(38.1)
Cash flows from financing activities:
Payments on term loan			(65.3)	(32.7)
Payments on revolving credit facility			0.0	(250.0)
Repurchases of common stock			(360.8)	(48.9)
Net proceeds from issuance of common stock under share-based compensation arrangements			12.9	20.5
Other			(17.5)	(2.4)
Net cash used in financing activities			(430.7)	(313.5)
Effect of exchange rate changes on cash and cash equivalents and restricted cash			(8.1)	0.7
Net change in cash and cash equivalents and restricted cash			149.3	617.4
Cash and cash equivalents and restricted cash at beginning of period			2,723.6	1,367.3	$ 1,367.3
Cash and cash equivalents and restricted cash at end of period	2,872.9	1,984.7	2,872.9	1,984.7	2,723.6
Supplemental cash flow disclosures from investing and financing activities:
Contingent consideration issued in acquisitions			155.0	0.0
Fair value of strategic investment and purchase option acquired, less upfront cash paid			0.0	27.4
Operating ROU lease assets obtained in exchange for operating lease liabilities			15.9	20.7
Accounts payable and accrued expenses for purchases of property, plant and equipment and intangible assets			12.0	14.3
Cash and cash equivalents	2,825.0	1,984.2	2,825.0	1,984.2	$ 2,685.5
Restricted cash included in other current assets	47.8	0.1	47.8	0.1
Restricted cash included in other noncurrent assets	$ 0.1	$ 0.4	$ 0.1	$ 0.4

Business	6 Months Ended
Business	Jun. 30, 2020
Business [Abstract]
Business	Business Alexion Pharmaceuticals, Inc. (Alexion, the Company, we, our or us) is a global biopharmaceutical company focused on serving patients and families affected by rare diseases and devastating conditions through the discovery, development and commercialization of life-changing medicines. As a leader in rare diseases for more than 25 years, Alexion has developed and commercializes two approved complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS), as well as the first and only approved complement inhibitor to treat anti-acetylcholine receptor (AChR) antibody-positive generalized myasthenia gravis (gMG) and neuromyelitis optica spectrum disorder (NMOSD) in patients who are anti-aquaporin-4 (AQP4) antibody positive. Alexion also has two highly innovative enzyme replacement therapies and the first and only approved therapies for patients with life-threatening and ultra-rare metabolic disorders, hypophosphatasia (HPP) and lysosomal acid lipase deficiency (LAL-D). With the acquisition of Portola Pharmaceuticals, Inc. (Portola) in July 2020, we added the first and only approved Factor Xa inhibitor reversal agent for patients treated with rivaroxaban or apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding. In addition to our marketed therapies, we have a diverse pipeline resulting from internal innovation and business development. Alexion focuses its research efforts on novel molecules and targets in the complement cascade and its development efforts on the core therapeutic areas of hematology, nephrology, neurology, metabolic disorders and cardiology. We were incorporated in 1992 under the laws of the State of Delaware.

Basis of Presentation and Principles Of Consolidation	6 Months Ended
Basis of Presentation and Principles Of Consolidation	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. These accounting principles were applied on a basis consistent with those of the consolidated financial statements contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. In our opinion, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of our financial statements for interim periods presented in accordance with accounting principles generally accepted in the United States. The condensed consolidated balance sheet as of December 31, 2019 was derived from audited annual financial statements but does not include all disclosures required by accounting principles generally accepted in the United States. These interim financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2019 included in our Annual Report on Form 10-K for the year ended December 31, 2019. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year or any other future periods. The financial statements of our subsidiaries with functional currencies other than the U.S. dollar are translated into U.S. dollars using period-end exchange rates for assets and liabilities, historical exchange rates for stockholders' equity and weighted average exchange rates for operating results. Translation gains and losses are included in accumulated other comprehensive income (loss), net of tax, in stockholders' equity. Foreign currency transaction gains and losses are included in the results of operations in other income and expense. The accompanying unaudited condensed consolidated financial statements include the accounts of Alexion Pharmaceuticals, Inc. and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Our significant accounting policies are described in Note 1 of the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019. Updates to our accounting policies, including impacts from the adoption of new accounting standards, are discussed below in this Note 2. Reclassifications Certain items in the prior period’s condensed consolidated financial statements have been reclassified to conform to the current presentation. Use of Estimates Preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent liabilities in our condensed consolidated financial statements. Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain. We are not aware of any specific event or circumstance that would require an update to our estimates, judgments and assumptions or a revision of the carrying value of our assets or liabilities as of July 30, 2020, the date of issuance of this Quarterly Report on Form 10-Q. These estimates may change, as new events occur and additional information is obtained. Actual results may differ from these estimates under different assumptions or conditions and such differences may be material. New Accounting Pronouncements Accounting Standards Update (ASU) 2019-12, “Income Taxes: Simplifying the Accounting for Income Taxes”: In December 2019, the Financial Accounting Standards Board (FASB) issued a new standard intended to simplify the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for annual periods beginning after December 15, 2020 and interim periods within, with early adoption permitted. Adoption of the standard requires certain changes to be made prospectively, with some changes to be made retrospectively. We do not expect the adoption of this standard to have a material impact on our financial condition and results of operations. ASU 2020-01, “Investments - Equity Securities, Investments - Equity Method and Joint Ventures, and Derivatives and Hedging - Clarifying the Interactions Between Topic 321, Topic 323, and Topic 815”: In January 2020, the FASB issued a new standard intended to clarify the interactions between Accounting Standards Codification (ASC) 321, ASC 323 and ASC 815. The new standard addresses accounting for the transition into and out of the equity method and measurement of certain purchased options and forward contracts to acquire investments. The standard is effective for annual and interim periods beginning after December 15, 2020, with early adoption permitted. Adoption of the standard requires changes to be made prospectively. We do not expect the adoption of this standard to have a material impact on our financial condition and results of operations. ASU 2020-04, “Reference Rate Reform, Facilitation of the Effects of Reference Rate Reform on Financial Reporting": In response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of the London Interbank Offered Rate (LIBOR), regulators around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction-based and less susceptible to manipulation. In March 2020, the FASB issued a new standard that provides optional guidance for a limited time to ease the potential burden in accounting for the effects of reference rate reform, including optional expedients and exceptions for the accounting implications of contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this new standard only apply to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. The expedients and exceptions provided by the standard do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. We are currently reviewing our contracts impacted by reference rate reform and are assessing the impact of this standard on our financial condition and results of operations. Recently Adopted Accounting Pronouncements ASU 2018-15, "Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract": In August 2018, the FASB issued a new standard on a customer's accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement (CCA) that aligns the requirements for capitalizing implementation costs in a CCA service contract with existing internal-use software guidance. The standard also provides classification guidance on these implementation costs as well as additional quantitative and qualitative disclosures. The standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted, and can be adopted prospectively or retrospectively. We adopted the new standard on January 1, 2020 on a prospective basis. The adoption of this standard had no impact on our financial statements at the date of adoption; however, we anticipate the adoption of this standard will result in an increase in capitalized assets related to qualifying CCA implementation costs in future periods. Qualifying CCA implementation, set-up and other upfront costs incurred after January 1, 2020 are capitalized as other assets in our condensed consolidated balance sheets. These assets will be expensed over the term of the hosting arrangement and such expense will be presented within the same line item in our condensed consolidated statements of operations as the expense for fees for the associated hosting arrangement. These capitalized costs will be evaluated for impairment when events or changes in circumstances indicate that the carrying value of the capitalized implementation costs is not recoverable. For the six months ended June 30, 2020, capitalized CCA implementation costs were not material. ASU 2016-13, "Measurement of Credit Losses on Financial Instruments": In June 2016, the FASB issued a new standard intended to improve reporting requirements specific to loans, receivables and other financial instruments. The new standard requires that credit losses on financial assets measured at amortized cost be determined using an expected loss model, instead of the current incurred loss model, and requires that credit losses related to available-for-sale debt securities be recorded through an allowance for credit losses and limited to the amount by which carrying value exceeds fair value. The new standard also requires enhanced disclosure of credit risk associated with financial assets. The standard is effective for interim and annual periods beginning after December 15, 2019 with early adoption permitted. We adopted the new standard on January 1, 2020 and have completed our assessment of the standard based on the composition of our portfolio of financial instruments and current and forecasted economic conditions at that date. Our significant financial assets that are within the scope of the new standard consist of trade accounts receivable and available for sale debt securities. We have not historically experienced any material credit losses associated with our trade accounts receivable or available for debt securities. We monitor economic conditions, including volatility associated with international economies and the associated impacts on the financial markets and our business. We disaggregate our trade accounts receivable population into pools of similar risk characteristics based on underlying customer type and geographical location. Current expected credit loss allowances are estimated for each risk pool based on available information, including i) historical credit loss experience, ii) current economic conditions and, iii) reasonable and supportable forecasts of future economic conditions that may affect the collectibility of the recorded amounts. Based on the relevant facts and economic conditions as of the date of adoption, we concluded that the expected credit losses on our trade accounts receivable were immaterial. Additionally, unrealized losses on our available for sale investment portfolio were immaterial. As of June 30, 2020, we reassessed our estimated credit losses on our trade accounts receivable, including consideration of the potential impacts of the COVID-19 global pandemic. Based on the relevant facts and economic conditions as of June 30, 2020, we concluded that the expected credit losses on our trade accounts receivable continued to be immaterial.

Acquisitions

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Acquisitions

Business Combinations

Achillion Pharmaceuticals, Inc.

In October 2019, Alexion entered into a definitive agreement to acquire Achillion Pharmaceuticals, Inc. (Achillion), a clinical-stage biopharmaceutical company focused on the development of oral Factor D inhibitors. Achillion was developing oral small molecule Factor D inhibitors to treat people with complement alternative pathway-mediated rare diseases, such as PNH and C3 glomerulopathy (C3G). Achillion had two clinical stage medicines in development, including danicopan (ACH-4471/ALXN2040) and ACH-5228 (ALXN2050).

The acquisition of Achillion closed on January 28, 2020. Under the terms of the agreement, we acquired all outstanding common stock of Achillion for $6.30 per share, or an aggregate of $926.2, inclusive of the settlement of Achillion's outstanding equity awards. The acquisition was funded with cash on hand. The transaction includes the potential for additional consideration in the form of non-tradeable contingent value rights (CVRs), which will be paid to Achillion shareholders if certain clinical and regulatory milestones are achieved within specified periods. These

include $1.00 per share for the U.S. Food and Drug Administration (FDA) approval of danicopan and $1.00 per share for the initiation of a Phase III clinical trial in ACH-5228.

The transaction was accounted for as a business combination. The following table summarizes the total consideration transferred to acquire Achillion and the estimated fair value of the identified assets acquired and liabilities assumed at the acquisition date:


Consideration
Upfront payment to shareholders and option holders	$	926.2
Upfront payment, fair value of equity compensation attributable to the post-combination service period	(20.0)
Upfront cash paid, net	906.2

Contingent consideration	160.7
Contingent consideration, fair value of equity compensation attributable to the post-combination service period	(5.7)
Total consideration	$	1,061.2

Assets Acquired and Liabilities Assumed
Cash and cash equivalents	$	68.5
Marketable securities	106.1
In-process research & development assets (IPR&D)	918.0
Goodwill	37.8
Deferred tax liabilities, net	(62.9)
Other assets and liabilities, net	(6.3)
Total net assets acquired	$	1,061.2

Our accounting for this acquisition was finalized during the second quarter of 2020. Measurement period adjustments increased goodwill by $3.1 during the second quarter of 2020 due to purchase price allocation increases to deferred tax liabilities, net. Measurement period adjustments were recorded as a result of studies completed during the second quarter of 2020 to determine the tax deductibility of certain acquisition-related costs and the valuation of historical net operating loss and income tax credit carryforwards.

The initial fair value estimate of the contingent consideration in the form of non-tradeable CVRs was $160.7, which was recorded as a noncurrent liability in our condensed consolidated balance sheet, including $5.7 related to compensation attributable to the post-combination service period. We determined the fair value of these milestone-related payment obligations using various estimates, including probabilities of success prior to expiration of the specified period, discount rates and the amount of time until the conditions of the milestone payments are expected to be met. This fair value measurement is based on significant inputs not observable in the market, representing Level 3 measurements within the fair value hierarchy. The resulting probability-weighted cash flows were discounted using a cost of debt rate ranging from 2.1% to 2.3%. The range of estimated milestone payments is from zero, if no milestones are achieved for any product, to $306.3 if certain development and regulatory milestones are achieved.

Subsequent to the acquisition date, we have adjusted the contingent consideration to fair value with changes in fair value recognized in operating earnings. Changes in fair values reflect new information about the probability and timing of meeting the conditions of the milestone payments. In the absence of new information, changes in fair value will only reflect the interest component of contingent consideration related to the passage of time as development work progresses towards the potential achievement of the milestones. At June 30, 2020, the fair value of the contingent consideration for the Achillion acquisition was $190.1 based on the probability-weighted cash flows, discounted using a cost of debt ranging from 0.4% to 0.7%. Changes in fair value of the contingent consideration associated with the Achillion acquisition for the three and six months ended June 30, 2020 was $27.6 and $29.3 respectively. We continue to evaluate our development plans with respect to danicopan and ACH5228. The fair value of contingent consideration may change in future periods if we decide to pursue danicopan and ACH5228 in additional indications which may change the probability and timing of meeting certain milestones.

The aggregate fair value of equity compensation attributable to the post-combination service period was $25.7. This amount was excluded from the total consideration transferred and was recognized as a charge to acquisition-

related costs in our condensed consolidated statements of operations. These amounts were associated with the accelerated vesting of stock options previously granted to Achillion employees. Excluding the $5.7 of contingent consideration related to equity compensation attributable to the post-combination service period, such amounts were paid during the first quarter 2020.

Intangible assets associated with IPR&D relate to two development-stage programs, ACH-4471 (ALXN2040) and ACH-5228 (ALXN2050). The estimated fair value of $918.0 was determined using the excess earnings valuation method, a variation of the income valuation approach. The excess earnings valuation method estimates the value of an intangible asset equal to the present value of the incremental after-tax cash flows attributable to that intangible asset. Some of the more significant assumptions utilized in our asset valuations included the estimated net cash flows for each asset, including net revenues, cost of sales, research and development and other operating expenses, the potential regulatory and commercial success rates, competitive trends impacting the assets, and tax rates. The fair value using the excess earnings valuation method was determined using an estimated weighted average cost of capital for Achillion of 11.5%, which represents a rate of return that a market participant would expect for these assets. These fair value measurements were based on significant inputs not observable in the market and thus represent Level 3 fair value measurements. In the second quarter 2020, we recognized an impairment charge of $11.0 to write off our ACHN-4471 (ALXN2040) IPR&D asset due to clinical results received during the quarter.

The excess of purchase price over the fair value of the assets acquired and liabilities assumed represents the goodwill resulting from the acquisition. The goodwill, which is not tax-deductible, has been recorded as a noncurrent asset and is not amortized, but is subject to an annual review for impairment. The factors that contributed to the recognition of goodwill include the value of the acquired workforce, synergies that are specific to our business and not available to market participants, and early research in preclinical Factor D inhibitors, as well as the effects of the establishment of a deferred tax liability for the acquired IPR&D intangible assets, which has no tax basis.

We recorded a net deferred tax liability of $62.9, inclusive of measurement period adjustments recorded during the second quarter 2020. This amount was primarily comprised of $205.3 of deferred tax liabilities relating to the IPR&D acquired, offset by $142.4 of deferred tax assets related to net operating loss carryforwards (NOLs), income tax credits, and other temporary differences.

Achillion's results of operations are included in the condensed consolidated financial statements from the date of acquisition. For the three and six months ended June 30, 2020, we recorded $12.9 and $26.8, respectively, of pre-tax operating losses excluding transaction costs and impairment charges, associated with the operations of Achillion in our condensed consolidated statements of operations. We also recorded acquisition-related costs in connection with the acquisition during the three and six months ended June 30, 2020 as presented below. No revenues were recorded in the results of operations during the three or six months ended June 30, 2020 as neither ALXN2040 nor ALXN2050 has been approved for commercial sale by any regulatory agency.

Pro forma financial information (unaudited)

The following unaudited pro forma information presents the combined results of Alexion and Achillion as if the acquisition of Achillion had been completed on January 1, 2019, with adjustments to give effect to pro forma events that are directly attributable to the acquisition. The unaudited pro forma results do not reflect operating efficiencies or potential cost savings that may have resulted from the consolidation of operations. Accordingly, the unaudited pro forma financial information is not necessarily indicative of the results of operations had we completed the transaction on January 1, 2019.


	Three months ended June 30						Six months ended June 30
	2020		2019		2020		2019
Pro forma revenue	$	1,444.6	$	1,203.3	$	2,889.4	$	2,343.7
Pro forma net (loss) income	$	(1,068.1)	$	440.3	$	(493.2)	$	956.0

The unaudited pro forma consolidated results include pro forma adjustments related to non-recurring activity. Alexion and Achillion acquisition-related costs of $(0.1) and $53.2, respectively, net of tax, were excluded from net income for the three and six months ended June 30, 2020. These expenses were included in net income for the three and six months ended June 30, 2019.

Portola Pharmaceuticals, Inc.

In May 2020, Alexion entered into a definitive merger agreement to acquire Portola Pharmaceuticals, Inc. (Portola), a commercial-stage biopharmaceutical company focused on life-threatening blood-related disorders. Portola’s commercialized medicine, ANDEXXA®, marketed as ONDEXXYA® in Europe, is the first and only approved Factor Xa inhibitor reversal agent, and has demonstrated transformative clinical value by rapidly reversing the anticoagulant effects of Factor Xa inhibitors rivaroxaban and apixaban in severe and uncontrolled bleeding. The acquisition provides the opportunity to grow the commercial portfolio and is a strategic fit with our existing expertise in hematology and neurology.

Alexion completed the acquisition through a tender offer and subsequent merger of Portola with Odyssey Merger Sub Inc., a wholly owned subsidiary of Alexion. The acquisition closed on July 2, 2020. Under the terms of the tender offer and merger agreement, Alexion's subsidiary (Odyssey Merger Sub Inc.) purchased all outstanding common stock of Portola for $18.00 per share, or an aggregate of approximately $1,380.1, including the settlement of certain of Portola's outstanding equity awards but excluding shares of Portola stock held by Alexion at closing. The acquisition was funded by cash on hand. In connection with the acquisition, Alexion also paid $196.9 to settle certain debt held by Portola that was subject to preexisting change of control provisions.

We anticipate accounting for the transaction as a business combination and are currently evaluating the purchase price allocation. Due to the proximity of the completion of the acquisition to the filing of this Quarterly Report on Form 10-Q, it is not practicable to provide preliminary purchase price allocation of the fair value of the assets purchased and liabilities assumed in the transaction. The Company expects to complete the preliminary purchase price allocation in the third quarter of 2020.

In connection with the acquisition, we assumed royalty-based debt which requires repayment through tiered royalties on future net worldwide sales of ANDEXXA. Total potential royalty payments are capped at approximately $290.0.

Acquisition-Related Costs

Acquisition-related costs recorded within the condensed consolidated statement of operations associated with our acquisitions of Achillion and Portola for the three and six months ended June 30, 2020 and 2019 include the following:


	Three months ended June 30,						Six months ended June 30,
	2020		2019		2020		2019
Transaction costs ⁽¹⁾	$	4.2	$	—	$	5.6	$	—
Integration costs	0.9		—		1.0		—
Fair value of equity compensation attributable to the post-combination service period	—		—		25.7		—
Restructuring-related costs⁽²⁾	(0.5)		—		10.4		—
	$	4.6	$	—	$	42.7	$	—

(1) Transaction costs primarily include legal fees related to the acquisition of Portola as well as costs incurred to effectuate the settlement of the Achillion outstanding options

(2) Restructuring-related costs include liabilities recognized, and subsequent changes in estimates recorded for, severance payments and one-time short-term retention awards agreed to in connection with the acquisition of Achillion.

Acquisition-related costs attributable to the Achillion acquisition for the three and six months ended June 30, 2020 was $(0.1) and $38.0, respectively. Acquisition-related costs attributable to Portola acquisition for three and six months ended June 30, 2020 was $4.7. All Portola acquisition-related costs incurred were attributable to transaction and integration costs.

Inventories

6 Months Ended

Jun. 30, 2020

Inventory, Net [Abstract]

Inventories

The components of inventory are as follows:


	June 30,		December 31,
	2020		2019
Raw materials	$	73.9	$	41.2
Work-in-process	81.3		180.8
Finished goods	422.5		405.6
	$	577.7	$	627.6

As of June 30, 2020 and December 31, 2019, the carrying value of capitalized inventory manufactured at production facilities that have not yet received regulatory approval was $76.9 and $60.5, respectively.

Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

The following table summarizes the carrying amount of our intangible assets and goodwill, net of accumulated amortization and impairment charges:


		June 30, 2020											December 31, 2019
	Estimated Life (years)	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization		Net
Licensing rights	3-8	$	57.0	$	(36.5)		$	20.5	$	57.0	$	(34.7)	$	22.3
Patents	7	10.5		(10.5)			—		10.5		(10.5)		—
Purchased technology	6-16	4,710.5		(3,578.4)		(a)	1,132.1		4,710.5		(1,388.7)		3,321.8
Other intangibles	5	0.4		(0.3)			0.1		0.4		(0.2)		0.2
Acquired IPR&D	Indefinite	907.0		—			907.0		—		—		—
Total		$	5,685.4	$	(3,625.7)		$	2,059.7	$	4,778.4	$	(1,434.1)	$	3,344.3
Goodwill	Indefinite	$	5,078.1	$	(2.9)		$	5,075.2	$	5,040.3	$	(2.9)	$	5,037.4
(a) Includes an impairment charge of $2,042.3 recognized during the second quarter 2020 related to the KANUMA intangible asset

In connection with our acquisition of Achillion during the first quarter of 2020, we acquired IPR&D programs with a fair value of $918.0 and recorded goodwill of $37.8. For additional information on our acquisition of Achillion, please see Note 3, Acquisitions. In the second quarter 2020, we recognized an impairment charge of $11.0 to write off the cost basis of our ACHN-4471 (ALXN2040) acquired in-process research and development asset due to clinical results received during the quarter.

Amortization expense for the three months ended June 30, 2020 and 2019 was $74.6 and $81.2, respectively. Amortization expense for the six months ended June 30, 2020 and 2019 was $149.3 and $161.7, respectively. As of June 30, 2020, assuming no changes in the gross cost basis of intangible assets, the total estimated amortization expense for finite-lived intangible assets is $56.5 for the six months ending December 31, 2020, and approximately $113.0 for each of the years ending December 31, 2021 through December 31, 2025.

During the quarter ended June 30, 2020, based on continued challenges expanding patient growth and new alternative commercial opportunities, the Company revised its strategic view of KANUMA and determined that we have exhausted commercially viable initiatives related to KANUMA and will have difficulty expanding patient growth over the long term as we focus on promoting other commercial programs and growing our pipeline. As a result, we no longer expect to increase the number of KANUMA patients in the long term at the rate previously assumed. This determination resulted in reduced cash flow projections for KANUMA, which indicated that the related intangible asset value was not fully recoverable on an undiscounted cash flows basis. On June 30, 2020, the Company utilized market participant assumptions to determine its best estimate of the fair value of the intangible asset related to KANUMA that, when compared with its related carrying value, resulted in an impairment charge of $2,042.3.

The estimated fair value of the KANUMA asset as of June 30, 2020 was determined using the excess earnings method, a variation of the income approach. The excess earnings method estimates the value of an intangible asset equal to the present value of the incremental after-tax cash flows attributable to that intangible asset over its remaining economic life. Long term cash flow projections for the asset require the use of significant estimates and judgements, including discount rates and revenue growth rates, and were based on the Company’s most recent

strategic plan. The fair value of the asset was determined using an estimated weighted average cost of capital of 10.0%, which reflects the risks inherent in future cash flow projections and represents a rate of return that a market participant would expect for this asset. The estimated revenue growth rates fluctuate over the life of the asset, with a weighted average growth rate in the low single digits. The Company believes its assumptions are consistent with the plans and estimates that a market participant would use to manage the business. The estimated fair value of the KANUMA intangible asset as of June 30, 2020 was $820.0 and will continue to be amortized over its remaining estimated useful life. This fair value measurement was based on significant inputs not observable in the market and thus represents a Level 3 fair value measurement.

The following summarizes the changes in the carrying amount of goodwill:


	June 30, 2020
Balance at December 31, 2019	$	5,037.4
Goodwill resulting from the acquisition of Achillion	37.8
Balance at June 30, 2020	$	5,075.2

Debt	6 Months Ended
Debt	Jun. 30, 2020
Debt [Abstract]
Debt	Debt On June 7, 2018, we entered into an Amended and Restated Credit Agreement (the Credit Agreement), with Bank of America, N.A. as Administrative Agent. The Credit Agreement amended and restated our credit agreement dated as of June 22, 2015 (the Prior Credit Agreement). The Credit Agreement provides for a $1,000.0 revolving credit facility and a $2,612.5 term loan facility. The revolving credit facility and the term loan facility mature on June 7, 2023. Beginning with the quarter ending June 30, 2019, we are required to make payments of 5.00% of the original principal amount of the term loan facility annually, payable in equal quarterly installments. In connection with entering into the Credit Agreement and the Prior Credit Agreement, we paid an aggregate of $53.1 in financing costs in 2018. Financing costs are amortized as interest expense over the life of the debt. Amortization expense associated with deferred financing costs for the three months ended June 30, 2020 and 2019 was $1.2 and $1.3, respectively. Amortization expense associated with deferred financing costs for the six months ended June 30, 2020 and 2019 was $2.4 and $2.5, respectively. Remaining unamortized deferred financing costs as of June 30, 2020 and December 31, 2019 were $13.4 and $15.8, respectively. We made principal payments of $32.7 and $65.3 on the term loan during the three and six months ended June 30, 2020, respectively, and as of June 30, 2020, we had $2,449.2 outstanding on the term loan. We had no outstanding borrowings under the revolving credit facility as of June 30, 2020. As of June 30, 2020, we had open letters of credit of $1.0 that offset our availability in the revolving credit facility. The amount outstanding under the term loan of $2,449.2 as of June 30, 2020 is subject to variable interest rates, which are based on current market rates, and as such, the Company believes the carrying amount of the obligation approximates fair value. We were in compliance with all applicable covenants under the Credit Agreement as of June 30, 2020.

Earnings Per Common Share

6 Months Ended

Jun. 30, 2020

Earnings Per Common Share [Abstract]

Earnings Per Common Share

Earnings Per Common ShareBasic earnings per common share (EPS) is computed by dividing net income by the weighted-average number of shares of common stock outstanding. For purposes of calculating diluted EPS, the denominator reflects the potential dilution that could occur if stock options, unvested restricted stock units or other contracts to issue common stock were exercised or converted into common stock, using the treasury stock method.

The following table summarizes the calculation of basic and diluted EPS for the three and six months ended June 30, 2020 and 2019:


	Three months ended						Six months ended
	June 30,						June 30,
	2020		2019		2020		2019
Net (loss) income used for basic and diluted calculation	$	(1,068.1)	$	459.8	$	(510.5)	$	1,047.7
Shares used in computing earnings (loss) per common share—basic	220.6		224.2		221.1		224.0
Weighted-average effect of dilutive securities:
Stock awards	—		1.4		—		1.7
Shares used in computing earnings (loss) per common share—diluted	220.6		225.6		221.1		225.7
Earnings (loss) per common share:
Basic	$	(4.84)	$	2.05	$	(2.31)	$	4.68
Diluted	$	(4.84)	$	2.04	$	(2.31)	$	4.64

We exclude from diluted EPS the weighted-average number of securities whose effect is anti-dilutive. For the three and six months ended June 30, 2020, we reported a net loss; therefore, no outstanding stock awards were included in the computation of diluted net loss per share since such inclusion would have been anti-dilutive. Excluded from the calculation of EPS for the three and six months ended June 30, 2019 were 1.9 and 2.9 shares of common stock, respectively, because their effect is anti-dilutive.

Marketable Securities

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Marketable securities

Marketable Securities

The proceeds from maturities and sales of available-for-sale debt securities and resulting realized gains and losses are summarized below. In the second quarter of 2020, we liquidated all of our available-for-sale debt securities to fund the acquisition of Portola, which closed on July 2, 2020.


	Three months ended						Six months ended
	June 30,						June 30,
	2020		2019		2020		2019
Proceeds from maturities and sales ⁽¹⁾	$	204.5	$	798.6	$	1,016.9	$	1,626.3
Realized gains	$	—	$	—	$	—	$	—
Realized losses	$	—	$	—	$	—	$	—
(1) Proceeds from maturities and sales of available-for-sale debt securities include securities previously classified as cash and cash equivalents and marketable securities in the condensed consolidated balance sheet

We utilize the specific identification method in computing realized gains and losses.

As a result of our liquidation of all available-for-sale debt securities during the second quarter 2020, we have no remaining available-for-sale debt securities as of June 30, 2020. The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of available-for-sale debt securities by type of security as of December 31, 2019 were as follows:


	December 31, 2019
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Fair Value
Commercial paper	$	246.9	$	—	$	—	$	246.9
Corporate bonds	24.3		—		—		24.3
Other government-related obligations:
U.S.	70.4		—		—		70.4
Bank certificates of deposit	27.4		—		—		27.4
Total available-for-sale debt securities	$	369.0	$	—	$	—	$	369.0

The aggregate fair value of available-for-sale debt securities in an unrealized loss position as of December 31, 2019 was $21.5. We did not have any investments in a continuous unrealized loss position for more than twelve months as of December 31, 2019.

The fair values of available-for-sale debt securities by classification in the condensed consolidated balance sheets were as follows:


	June 30, 2020		December 31, 2019
Cash and cash equivalents	$	—	$	328.1
Marketable securities	—		40.9
	$	—	$	369.0

We sponsor a nonqualified deferred compensation plan which allows certain highly-compensated employees to elect to defer income to future periods. Participants in the plan earn a return on their deferrals based on several investment options, which mirror returns on underlying mutual fund investments. We choose to invest in the underlying mutual fund investments to offset the liability associated with our nonqualified deferred compensation plan. These mutual fund investments are valued at net asset value per share and are carried at fair value with gains and losses included in investment income. The changes in the underlying liability to the employee are recorded in operating expenses. As of June 30, 2020 and December 31, 2019, the fair value of these investments was $26.8 and $23.1, respectively.

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities [Abstract]

Derivative Instruments and Hedging Activities

We operate internationally and, in the normal course of business, are exposed to fluctuations in foreign currency exchange rates. The exposures result from portions of our revenues, as well as the related receivables, and expenses that are denominated in currencies other than the U.S. dollar, primarily the Euro and Japanese Yen. We are also exposed to fluctuations in interest rates on outstanding borrowings under our revolving credit facility, if any, and term loan facility. We manage these exposures within specified guidelines through the use of derivatives. All of our derivative instruments are utilized for risk management purposes, and we do not use derivatives for speculative trading purposes.

We enter into foreign exchange forward contracts, with durations of up to 60 months, to hedge exposures resulting from portions of our forecasted revenues, including intercompany revenues, and certain forecasted expenses that are denominated in currencies other than the U.S. dollar. The purpose of these hedges is to reduce the volatility of exchange rate fluctuations on our operating results. These hedges are designated as cash flow hedges upon contract inception. As of June 30, 2020, we had open revenue related foreign exchange forward contracts with notional amounts totaling $802.1 that qualified for hedge accounting with current contract maturities through June 2021. As of June 30, 2020, we had open expense related foreign exchange forward contracts with notional amounts totaling $11.3 that qualified for hedge accounting with contract maturities through September 2022.

To achieve a desired mix of floating and fixed interest rates on our term loan, we enter into interest rate swap agreements that qualify for and are designated as cash flow hedges. These contracts convert the floating interest rate on a portion of our debt to a fixed rate, plus a borrowing spread.

The following table summarizes the total interest rate swap contracts executed as of June 30, 2020:

Type of Interest Rate Swap Contract

Notional Amount

Effective Date

Termination Date

Fixed Interest Rate or Rate Range

Floating to Fixed

$450.0

December 2018

December 2022

2.60% - 2.79%

Floating to Fixed

$1,300.0

December 2019

December 2022

2.37% - 2.83%

The amount of gains and (losses) recognized in the condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 from foreign exchange and interest rate swap contracts that qualified as cash flow hedges were as follows:


	Three months ended						Three months ended
	June 30, 2020						June 30, 2019
Financial Statement Line Item in which the Effects of Cash Flow Hedges are Recorded	Net Product Sales		Interest Expense		Net Product Sales		Interest Expense
Total amount presented in the Condensed Consolidated Statements of Operations	$	1,444.5	$	(23.6)	$	1,202.5	$	(18.3)
Impact of cash flow hedging relationships:
Foreign exchange forward contracts	$	9.5	$	—	$	9.1	$	—
Interest rate swap contracts	$	—	$	(10.0)	$	—	$	4.5


	Six months ended						Six months ended
	June 30, 2020						June 30, 2019
Financial Statement Line Item in which the Effects of Cash Flow Hedges are Recorded	Net Product Sales		Interest Expense		Net Product Sales		Interest Expense
Total amount presented in the Condensed Consolidated Statements of Operations	$	2,889.1	$	(49.4)	$	2,342.7	$	(38.2)
Impact of cash flow hedging relationships:
Foreign exchange forward contracts	$	20.9	$	—	$	16.1	$	—
Interest rate swap contracts	$	—	$	(14.6)	$	—	$	9.1

The impact on accumulated other comprehensive income (AOCI) and earnings from foreign exchange and interest rate swap contracts that qualified as cash flow hedges, for the three and six months ended June 30, 2020 and 2019 were as follows:


	Three months ended						Six months ended
	June 30,						June 30,
	2020		2019		2020		2019
Foreign Exchange Forward Contracts:
(Loss) gain recognized in AOCI, net of tax	$	(6.1)	$	(3.9)	$	19.9	$	10.3
Gain reclassified from AOCI to net product sales, net of tax	$	7.4	$	7.0	$	16.2	$	12.4
Interest Rate Swap Contracts:
Loss recognized in AOCI, net of tax	$	(5.4)	$	(24.6)	$	(52.7)	$	(38.8)
(Loss) gain reclassified from AOCI to interest expense, net of tax	$	(7.7)	$	3.4	$	(11.3)	$	7.0

Assuming no change in foreign exchange rates from market rates at June 30, 2020, $11.3 of gains recognized in AOCI will be reclassified to revenue over the next 12 months. Assuming no change in LIBOR-based interest rates from market rates at June 30, 2020, $45.5 of losses recognized in AOCI will be reclassified to interest expense over the next 12 months. Amounts recognized in AOCI for expense related foreign exchange forward contracts were immaterial as of June 30, 2020.

We enter into foreign exchange forward contracts, with durations of up to 7 months, designed to limit the balance sheet exposure of monetary assets and liabilities. We enter into these hedges to reduce the impact of fluctuating exchange rates on our operating results. Hedge accounting is not applied to these derivative instruments as gains and losses on these hedge transactions are designed to offset gains and losses on underlying balance sheet exposures. As of June 30, 2020, the notional amount of foreign exchange contracts where hedge accounting is not applied was $1,936.4.

We recognized a loss of $3.2 and $5.8, in other income and (expense) for the three months ended June 30, 2020 and 2019, respectively, associated with the foreign exchange contracts not designated as hedging instruments. We recognized a gain (loss) of $13.0 and $(2.6), in other income and (expense) for the six months ended June 30, 2020 and 2019, respectively, associated with the foreign exchange contracts not designated as hedging instruments. These amounts were partially offset by gains or losses on monetary assets and liabilities.

The following tables summarize the fair value of outstanding derivatives as of June 30, 2020 and December 31, 2019:

June 30, 2020

Derivative Assets

Derivative Liabilities

Balance Sheet
Location

Fair
Value

Balance Sheet
Location

Fair
Value

Derivatives designated as hedging instruments:

Foreign exchange forward contracts

Prepaid expenses and other current assets

14.6

Other current liabilities

3.6

Foreign exchange forward contracts

Other assets

—

Other liabilities

0.4

Interest rate swap contracts

Prepaid expenses and other current assets

—

Other current liabilities

45.5

Interest rate swap contracts

Other assets

—

Other liabilities

69.6

Derivatives not designated as hedging instruments:

Foreign exchange forward contracts

Prepaid expenses and other current assets

28.9

Other current liabilities

20.6

Total fair value of derivative instruments

43.5

139.7

December 31, 2019

Derivative Assets

Derivative Liabilities

Balance Sheet
Location

Fair
Value

Balance Sheet
Location

Fair
Value

Derivatives designated as hedging instruments:

Foreign exchange forward contracts

Prepaid expenses and other current assets

12.7

Other current liabilities

6.2

Foreign exchange forward contracts

Other assets

0.6

Other liabilities

1.1

Interest rate swap contracts

Prepaid expenses and other current assets

—

Other current liabilities

19.5

Interest rate swap contracts

Other assets

—

Other liabilities

41.9

Derivatives not designated as hedging instruments:

Foreign exchange forward contracts

Prepaid expenses and other current assets

17.2

Other current liabilities

20.4

Total fair value of derivative instruments

30.5

89.1

Although we do not offset derivative assets and liabilities within our condensed consolidated balance sheets, our International Swap and Derivatives Association agreements provide for net settlement of transactions that are due to or from the same counterparty upon early termination of the agreement due to an event of default or other termination event. The following tables summarize the potential effect on our condensed consolidated balance sheets of offsetting our foreign exchange forward contracts and interest rate contracts subject to such provisions:


	June 30, 2020
							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
Description	Gross Amounts of Recognized Assets/Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheet		Net Amounts of Assets/Liabilities Presented in the Condensed Consolidated Balance Sheet		Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	43.5	$	—	$	43.5	$	(23.3)	$	—	$	20.2
Derivative liabilities	$	(139.7)	$	—	$	(139.7)	$	23.3	$	—	$	(116.4)


	December 31, 2019
							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
Description	Gross Amounts of Recognized Assets/Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheet		Net Amounts of Assets/Liabilities Presented in the Condensed Consolidated Balance Sheet		Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	30.5	$	—	$	30.5	$	(21.4)	$	—	$	9.1
Derivative liabilities	$	(89.1)	$	—	$	(89.1)	$	21.4	$	—	$	(67.7)

Other Investments	6 Months Ended
Other Investments	Jun. 30, 2020
Investments, All Other Investments [Abstract]
Other Investments	Other Investments Other investments include strategic investments in equity securities of certain biotechnology companies which we acquired in connection with strategic business development transactions, including license and option agreements. These investments are included in other assets in our condensed consolidated balance sheets. Moderna During 2014, we purchased $37.5 of preferred stock of Moderna Therapeutics, Inc. (Moderna), a privately held biotechnology company, which was initially recorded at cost. We began recording the investment at fair value, with the effects of a holding period restriction estimated using an option pricing valuation model, upon Moderna's completion of its initial public offering (IPO) in 2018. During the three and six months ended June 30, 2019, we recognized an unrealized loss of $29.0 and unrealized gain $0.8, respectively, in investment income to adjust our investment in Moderna to fair value. On December 9, 2019, we sold our investment in Moderna for $114.7 in net proceeds, resulting in a realized gain of $77.2 on our initial investment. Dicerna In October 2018, we purchased $10.3 of Dicerna Pharmaceuticals Inc. (Dicerna) common stock in connection with an agreement that we entered into with Dicerna, a publicly-traded biopharmaceutical company. As our equity investment in Dicerna common stock has a readily determinable fair value, we are recording the investment at fair value. During the three and six months ended June 30, 2020, we recognized an unrealized gain of $5.9 and $2.8, respectively, in investment income to adjust our equity investment in Dicerna to fair value. During the three and six months ended June 30, 2019, we recognized an unrealized gain of $0.9 and $4.2, respectively, in investment income to adjust our equity investment in Dicerna to fair value. The fair value of this investment was $21.2 and $18.4 as of June 30, 2020 and December 31, 2019, respectively. Caelum In January 2019, we purchased $41.0 of preferred stock of Caelum Biosciences (Caelum), a privately-held biotechnology company, and a $16.1 option to acquire the remaining equity in Caelum, based on Phase II data, in connection with an agreement that we entered into with Caelum. Following discussions with the FDA, Caelum changed the design of its clinical development program and a Phase II trial for CAEL-101 commenced during the first quarter of 2020 with plans to initiate Phase III trials in the second half of 2020. In December 2019, we amended the terms of the agreement with respect to the option to acquire the remaining equity in Caelum based on data from the expanded Phase II/III trials. We accounted for the amendment as an exchange transaction as the terms of the modified option were determined to be substantially different than the terms of the original option. In conjunction with this amendment, we recognized a gain of $32.0 during the fourth quarter 2019 in other income and (expense), which reflects an increase in the fair value of the option, less $20.0 in incremental upfront funding which we accrued as of December 31, 2019 and paid during the first quarter 2020, and $4.1 associated with the change in the fair value of contingent payments which we also modified as part of the amendment. See Note 16, Commitments and Contingencies, for additional information on the agreement. As our equity investment in Caelum and the option to acquire the remaining equity in Caelum do not have a readily determinable fair value, we only adjust the carrying value of the assets for impairment and any subsequent changes resulting from an observable price change in an orderly transaction for identical or similar equity securities of the same issuer. There were no observable price changes associated with these assets during the three and six months ended June 30, 2020 and 2019. As of June 30, 2020 and December 31, 2019, the carrying value of the investment and option, respectively, was $41.0 and $64.0. The investment and option were not impaired as of June 30, 2020. Zealand In March 2019, we purchased $13.8 of Zealand Pharma A/S (Zealand) common stock in connection with an agreement that we entered into with Zealand, a publicly-traded biopharmaceutical company based in Copenhagen, Denmark. See Note 16, Commitments and Contingencies, for additional information on the agreement. As our equity investment in Zealand common stock has a readily determinable fair value, we are recording the investment at fair value. During the three and six months ended June 30, 2020, we recognized an unrealized loss of $0.8 and $1.0, respectively, in investment income to adjust our equity investment in Zealand to fair value. During the three and six months ended June 30, 2019, we recognized an unrealized gain of $2.9 and $3.6, respectively, in investment income to adjust our equity investment in Zealand to fair value. The fair value of this investment was $27.5 and $28.5 as of June 30, 2020 and December 31, 2019, respectively. Eidos In September 2019, we purchased $19.9 of Eidos Therapeutics, Inc. (Eidos) common stock, in connection with an agreement that we entered into with Eidos, a publicly-traded biopharmaceutical company and subsidiary of BridgeBio Pharma, Inc. See Note 16, Commitments and Contingencies, for additional information on the agreement. As our equity investment in Eidos common stock has a readily determinable fair value, we are recording the investment at fair value, with the effects of a one year holding period restriction estimated using an option pricing valuation model. During the three and six months ended June 30, 2020, we recognized an unrealized gain of $0.6 and unrealized loss of $3.1, respectively, in investment income to adjust our equity investment in Eidos to fair value. The fair value of this investment was $24.7 and $27.8 as of June 30, 2020 and December 31, 2019, respectively. Stealth In October 2019, we purchased $9.6 of Stealth BioTherapeutics Corp. (Stealth) common stock, in connection with an agreement that we entered into with Stealth, a publicly traded clinical-stage biotechnology company. As our equity investment in Stealth common stock has a readily determinable fair value, we are recording the investment at fair value. During the three and six months ended June 30, 2020, we recognized an unrealized gain of $0.9 and unrealized loss of $1.9, respectively, in investment income to adjust our equity investment in Stealth to fair value. The fair value of this investment was $2.5 and $4.4 as of June 30, 2020 and December 31, 2019, respectively. Portola In March 2020 and April 2020, we purchased of $14.5 and $3.6, respectively, of common stock of Portola Pharmaceuticals, Inc., a publicly traded commercial-stage biotechnology company. As our equity investment in the common stock has a readily determinable fair value, we are recording the investment at fair value. During the three and six months ended June 30, 2020, we recognized an unrealized gain of $29.0 and $29.6, respectively, in investment income to adjust our equity investment in Portola to fair value. The fair value of this investment was $47.7 as of June 30, 2020. Upon closing of the acquisition of Portola on July 2, 2020 the equity investment was derecognized and included in the fair value of consideration transferred.

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Share Repurchases In November 2012, our Board of Directors authorized a share repurchase program. In February 2017, our Board of Directors increased the amount that we are authorized to expend on future repurchases to $1,000.0 under our repurchase program, which superseded all prior repurchase programs. The entire amount authorized pursuant to this February 2017 Board approval has been utilized. On October 22, 2019, the Board of Directors approved a share repurchase authorization of up to $1,000.0. The repurchase program does not have an expiration date and we are not obligated to acquire a particular number of shares. The repurchase program may be discontinued at any time at our discretion. Under the program, we repurchased 2.3 and 0.3 shares of our common stock at a cost of $253.7 and $37.6 during the three months ended June 30, 2020 and 2019, respectively. During the six months ended June 30, 2020 and 2019, we repurchased 3.6 and 0.4 shares of our common stock at a cost of $360.8 and $48.9, respectively. On July 28, 2020, the Board of Directors approved a new share repurchase authorization of up to an additional $1,500.0. The repurchase program does not have an expiration date and we are not obligated to acquire a particular number of shares. The repurchase program may be discontinued at any time at our discretion. As of July 28, 2020, there is a total of $2,174.7 remaining for repurchases under the repurchase program.

Other Comprehensive Income and Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2020

Accumulated Other Comprehensive Income [Abstract]

Other Comprehensive Income and Accumulated Other Comprehensive Income

The following tables summarize the changes in AOCI, by component, for the six months ended June 30, 2020 and 2019:


	Defined Benefit Pension Plans		Unrealized Gains (Losses) from Debt Securities		Unrealized Gains (Losses) from Hedging Activities		Foreign Currency Translation Adjustment		Total Accumulated Other Comprehensive Income (Loss)
Balances, December 31, 2019	$	(9.2)	$	(0.1)	$	(40.1)	$	(17.4)	$	(66.8)
Other comprehensive income (loss) before reclassifications	—		0.1		(32.8)		(6.5)		(39.2)
Amounts reclassified from other comprehensive income	—		—		(4.9)		—		(4.9)
Net other comprehensive income (loss)	—		0.1		(37.7)		(6.5)		(44.1)
Balances, June 30, 2020	$	(9.2)	$	—	$	(77.8)	$	(23.9)	$	(110.9)


	Defined Benefit Pension Plans		Unrealized Gains (Losses) from Debt Securities		Unrealized Gains (Losses) from Hedging Activities		Foreign Currency Translation Adjustment		Total Accumulated Other Comprehensive Income (Loss)
Balances, December 31, 2018	$	(2.6)	$	(0.3)	$	9.6	$	(16.4)	$	(9.7)
Other comprehensive income (loss) before reclassifications	—		0.2		(28.5)		(0.5)		(28.8)
Amounts reclassified from other comprehensive income	—		—		(19.4)		—		(19.4)
Net other comprehensive income (loss)	—		0.2		(47.9)		(0.5)		(48.2)
Balances, June 30, 2019	$	(2.6)	$	(0.1)	$	(38.3)	$	(16.9)	$	(57.9)

The table below provides details regarding significant reclassifications from AOCI during the three and six months ended June 30, 2020 and 2019:


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income during the three months ended June 30,									Amount Reclassified From Accumulated Other Comprehensive Income during the six months ended June 30,			Affected Line Item in the Condensed Consolidated Statements of Operations
			2020			2019			2020			2019
Unrealized Gains (Losses) on Hedging Activity
Foreign exchange forward contracts	$	9.5		$	9.1		$	20.9		$	16.1	Net product sales
Interest rate swap contracts	(10.0)			4.5			(14.6)			9.1		Interest expense
	(0.5)			13.6			6.3			25.2
	0.2			(3.2)			(1.4)			(5.8)		Income tax (benefit) expense
	$	(0.3)		$	10.4		$	4.9		$	19.4

Fair Value Measurement

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

Authoritative guidance establishes a valuation hierarchy for disclosure of the inputs to the valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value.

The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019, and indicate the fair value hierarchy of the valuation techniques we utilized to determine such fair value.


		Fair Value Measurement at June 30, 2020
Balance Sheet Classification	Type of Instrument	Total		Level 1		Level 2		Level 3
Cash equivalents	Money market funds	$	1,212.8	$	—	$	1,212.8	$	—



Marketable securities	Mutual funds	$	26.8	$	26.8	$	—	$	—




Other assets	Equity securities	$	123.6	$	98.9	$	24.7	$	—
Prepaid expenses and other current assets	Foreign exchange forward contracts	$	43.5	$	—	$	43.5	$	—

Other current liabilities	Foreign exchange forward contracts	$	24.2	$	—	$	24.2	$	—
Other liabilities	Foreign exchange forward contracts	$	0.4	$	—	$	0.4	$	—


Other current liabilities	Interest rate contracts	$	45.5	$	—	$	45.5	$	—
Other liabilities	Interest rate contracts	$	69.6	$	—	$	69.6	$	—

Contingent consideration	Acquisition-related contingent consideration	$	374.7	$	—	$	—	$	374.7
Other current liabilities	Other contingent payments	$	11.4	$	—	$	—	$	11.4


		Fair Value Measurement at December 31, 2019
Balance Sheet Classification	Type of Instrument	Total		Level 1		Level 2		Level 3
Cash equivalents	Money market funds	$	635.9	$	—	$	635.9	$	—
Cash equivalents	Commercial paper	$	227.9	$	—	$	227.9	$	—
Cash equivalents	Corporate bonds	$	20.6	$	—	$	20.6	$	—
Cash equivalents	Bank certificates of deposit	$	19.2	$	—	$	19.2	$	—
Cash equivalents	Other government-related obligations	$	60.4	$	—	$	60.4	$	—
Marketable securities	Mutual funds	$	23.1	$	23.1	$	—	$	—
Marketable securities	Commercial paper	$	19.0	$	—	$	19.0	$	—
Marketable securities	Corporate bonds	$	3.7	$	—	$	3.7	$	—
Marketable securities	Other government-related obligations	$	10.0	$	—	$	10.0	$	—
Marketable securities	Bank certificates of deposit	$	8.2	$	—	$	8.2	$	—
Other assets	Equity securities	$	79.0	$	51.2	$	27.8	$	—
Prepaid expenses and other current assets	Foreign exchange forward contracts	$	29.9	$	—	$	29.9	$	—
Other assets	Foreign exchange forward contracts	$	0.6	$	—	$	0.6	$	—
Other current liabilities	Foreign exchange forward contracts	$	26.6	$	—	$	26.6	$	—
Other liabilities	Foreign exchange forward contracts	$	1.1	$	—	$	1.1	$	—
Other current liabilities	Interest rate contracts	$	19.5	$	—	$	19.5	$	—

Other liabilities	Interest rate contracts	$	41.9	$	—	$	41.9	$	—
Contingent consideration	Acquisition-related contingent consideration	$	192.4	$	—	$	—	$	192.4
Other current liabilities	Other contingent payments	$	24.0	$	—	$	—	$	24.0

There were no securities transferred between Level 1, 2 and 3 during the six months ended June 30, 2020.

Valuation Techniques

We classify mutual fund investments and equity securities, which are valued based on quoted market prices in active markets with no valuation adjustment, as Level 1 assets within the fair value hierarchy.

Cash equivalents and marketable securities classified as Level 2 within the valuation hierarchy include money market funds, commercial paper, U.S. and foreign government-related debt, corporate debt securities and certificates of deposit. We estimate the fair values of these marketable securities by taking into consideration valuations obtained from third-party pricing sources. These pricing sources utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include market pricing based on real-time trade data for similar securities, issuer credit spreads, benchmark yields, and other observable inputs. We validate the prices provided by our third-party pricing sources by understanding the models used, obtaining market values from other pricing sources and analyzing pricing data in certain instances.

Other investments in equity securities of publicly traded companies which are subject to holding period restrictions are carried at fair value using an option pricing valuation model and classified as Level 2 equity securities within the fair value hierarchy. The most significant assumptions within the option pricing valuation model are the term of the restrictions and the stock price volatility, which is based upon the historical volatility of the applicable company or similar companies. We also use a constant maturity risk-free interest rate to match the remaining term of the restrictions on such investments.

Our derivative assets and liabilities include foreign exchange and interest rate derivatives that are measured at fair value using observable market inputs such as forward rates, interest rates, our own credit risk as well as an evaluation of our counterparties’ credit risks. Based on these inputs, the derivative assets and liabilities are classified within Level 2 of the valuation hierarchy.

Contingent consideration liabilities related to business acquisitions and derivative liabilities associated with other contingent payments are classified as Level 3 within the valuation hierarchy and are valued based on various estimates, including probability of success, discount rates and amount of time until the conditions of the milestone payments are anticipated to be met.

As of June 30, 2020, there has not been any impact to the fair value of our derivative liabilities due to our own credit risk. Similarly, there has not been any significant adverse impact to our derivative assets based on our evaluation of our counterparties’ credit risks.

Acquisition-Related Contingent Consideration

In connection with our prior business combinations, we may be required to pay future consideration that is contingent upon the achievement of specified development, regulatory approvals or sales-based milestone events. We determine the fair value of these obligations using various estimates that are not observable in the market and represent a Level 3 measurement within the fair value hierarchy. As of June 30, 2020, the resulting probability-weighted cash flows were discounted using a cost of debt ranging from 0.4% to 0.7% for developmental and regulatory milestones and a weighted average cost of capital of 9.0% for sales-based milestones. As of December 31, 2019, the resulting probability-weighted cash flows were discounted using a weighted average cost of capital of 9.0% for sales-based milestones.

Each reporting period, we adjust the contingent consideration to fair value with changes in fair value recognized in operating earnings. Changes in fair values reflect new information about the probability and anticipated timing of meeting the conditions of the milestone payments. In the absence of new information, changes in fair value will only reflect the interest component of contingent consideration related to the passage of time.

As of June 30, 2020, estimated future contingent milestone payments related to our business combinations range from zero if no milestone events are achieved, to a maximum of $908.3 if all development, regulatory and sales-based milestones are reached.

As of June 30, 2020, the fair value of acquisition-related contingent consideration was $374.7. Amounts issued during the six months ended June 30, 2020, represent the fair value of the non-tradeable CVRs recorded in connection with the acquisition of Achillion. See Note 3, Acquisitions. The following table represents a roll-forward of our acquisition-related contingent consideration:


	Six Months Ended June 30, 2020
Balance at beginning of period	$	192.4
Amounts issued	160.7
Changes in fair value	21.6
Balance at end of period	$	374.7

Other Contingent Payments

In January 2019, we entered into an agreement with Caelum, a biotechnology company that is developing CAEL-101 for light chain (AL) amyloidosis. Under the terms of the agreement, we acquired a minority equity interest in preferred stock of Caelum and an exclusive option to acquire the remaining equity in Caelum based on Phase II data, for pre-negotiated economics. We paid $30.0 during the first quarter 2019 and agreed to pay up to an additional $30.0 in contingent development milestones prior to our exercise of the option to acquire the remaining equity in Caelum. These contingent payments meet the definition of a derivative liability and were initially recorded at fair value of $27.1, based on the probability-weighted cash flows, discounted using a cost of debt ranging from 3.3% to 3.5%.

In December 2019, following FDA feedback which resulted in the redesign and expansion of Caelum's planned clinical development program for CAEL-101, we amended the terms of our existing option agreement with Caelum. The amendment modified the terms of the option to acquire the remaining equity in Caelum based on data from the expanded Phase II/III trials. The amendment also modified the development-related milestone events associated with the initial $30.0 in contingent payments, provided for an additional $20.0 in upfront funding, which we accrued

as of December 31, 2019 and paid during the first quarter 2020, as well as funding of $60.0 in exchange for an additional equity interest at fair value upon achievement of a specific development-related milestone event. In April 2020, we paid an aggregate of $15.0 of contingent payments to Caelum related to two development-based milestones. The remaining $15.0 of contingent payments continues to meet the definition of a derivative liability.

Each reporting period, we adjust the derivative liability associated with the contingent payments to fair value with changes in fair value recognized in other income and expense. Changes in fair values reflect new information about the probability and anticipated timing of meeting the conditions of the milestone payments. In the absence of new information, changes in fair value will only reflect the interest component of the liability related to the passage of time. As of June 30, 2020, the fair value of our remaining contingent payments was $11.4, based on the probability-weighted cash flows, discounted using a cost of debt of 2.1%. We recorded $0.1 and $2.4 of expense in other income and (expense) during the three and six months ended June 30, 2020, respectively, related to the change in the fair value of the liability. We recorded $0.3 of expense in other income and (expense) during the three and six months ended June 30, 2019 related to the change in the fair value of the liability.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Revenue Recognition

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenue

The Company disaggregates revenue from contracts with customers into product and geographical regions as summarized below.


	Three months ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
SOLIRIS
United States	$	553.3	$	496.3	$	1,109.5	$	960.0
Europe	247.9		280.2		511.4		544.7
Asia Pacific	82.4		110.3		169.5		211.2
Rest of World	91.9		94.0		208.0		226.9
Total	$	975.5	$	980.8	$	1,998.4	$	1,942.8

ULTOMIRIS
United States	$	158.1	$	54.2	$	289.6	$	78.8
Europe	32.0		—		65.8		—
Asia Pacific	59.6		—		116.7		—
Rest of World	1.4		—		1.8		—
Total	$	251.1	$	54.2	$	473.9	$	78.8

STRENSIQ
United States	$	140.7	$	106.2	$	268.8	$	205.7
Europe	18.3		19.5		42.3		37.0
Asia Pacific	15.0		12.1		28.6		22.0
Rest of World	10.3		3.5		16.8		6.7
Total	$	184.3	$	141.3	$	356.5	$	271.4

KANUMA
United States	$	15.4	$	15.3	$	31.8	$	29.1
Europe	8.4		6.8		15.9		13.1
Asia Pacific	0.9		1.3		1.8		2.1
Rest of World	8.9		2.8		10.8		5.4
Total	$	33.6	$	26.2	$	60.3	$	49.7

Total Net Product Sales	$	1,444.5	$	1,202.5	$	2,889.1	$	2,342.7

Contract Balances and Receivables

Contract liabilities relate to consideration received and/or billed for goods that have not been delivered to the customer and for which the performance obligation has not yet been completed. These amounts are included within other current liabilities in the condensed consolidated balance sheets.

The following table provides information about receivables and contract liabilities from our contracts with customers.


	June 30, 2020		December 31, 2019
Receivables, which are included in "Trade accounts receivable, net"	$	1,372.2	$	1,243.2
Contract liabilities, which are included in "Other current liabilities"	$	24.7	$	6.8

Income Taxes

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Coronavirus Aid, Relief and Economic Security Act

In response to the market volatility and instability resulting from the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020. The CARES Act lifts certain deduction limitations originally imposed by the Tax Cuts and Jobs Act of 2017 (2017 Tax Act). Under the 2017 Tax Act, federal net operating losses (NOLs) generated after 2017 could not be carried back and utilization was limited to 80% of taxable income. The CARES Act allows for a five-year carryback of federal NOLs generated in 2018 through 2020 and eliminates the 80% taxable income limitation by allowing corporate entities to fully utilize NOL carryforwards to offset taxable income in 2018 through 2020. In addition, the CARES Act generally allows taxpayers to deduct interest up to 50% of adjusted taxable income (30% limit under the 2017 Tax Act) for tax years 2019 and 2020. The CARES Act also allows taxpayers with prior year alternative minimum tax (repealed by the 2017 Tax Act) (AMT) credits to accelerate refund claims to tax years beginning in 2018 and 2019 instead of recovering the credits over a period of years, as originally enacted by the 2017 Tax Act.

Additionally, the CARES Act raises the corporate charitable deduction limit to 25% of taxable income and provides a technical correction to the 2017 Tax Act to generally provide qualified improvement property a 15-year cost-recovery period and allow 100% bonus depreciation. The enactment of the CARES Act did not result in any material adjustments to our income tax provision for the three and six months ended June 30, 2020, or to our U.S. federal and state net deferred tax liabilities as of June 30, 2020.

Tax Rate

The following table provides a comparative summary of our income tax expense and effective income tax rate for the three and six months ended June 30, 2020 and 2019:


	Three months ended									Six months ended
	June 30,									June 30,
	2020			2019			2020			2019
Income tax (benefit) expense	$	(284.0)		$	39.7		$	(178.0)		$	(6.4)
Effective income tax rate	21.0		%	7.9		%	25.9		%	(0.6)		%

Income tax (benefit) expense is attributable to the U.S. federal, state and foreign income taxes on our profitable operations. During the second quarter 2020, we recognized an impairment charge of $2,042.3 related to the KANUMA intangible asset, resulting in a deferred tax benefit of $377.3. See Note 5, Intangible Assets and Goodwill, for additional information on the impairment charge. These deferred tax benefits increased the effective tax rate for the six months ended June 30, 2020 by approximately 11.1%.

The income tax expense for the six months ended June 30, 2019 includes one-time tax benefits recorded during the first quarter 2019, in connection with the future integration of intellectual property of Wilson Therapeutics into the Alexion corporate structure. The deferred tax benefits included $95.7 and $30.3 associated with a tax election made with respect to intellectual property of Wilson Therapeutics and a valuation allowance release and corresponding recognition of net operating losses, respectively. These deferred tax benefits decreased the effective tax rate for the six months ended June 30, 2019 by approximately 12.1%.

In April 2020 we became aware of a European withholding tax regulation that could be interpreted to apply to certain of our previous intra-group transactions. We continue to evaluate whether the interpretation of this regulation applies to our facts and circumstances, and, based on our preliminary analysis, we recorded an immaterial reserve related to this matter during the second quarter of 2020.

In July 2020, the U.S. Department of Treasury released certain proposed and final regulations which were originally enacted under the 2017 Tax Act. We are currently assessing the impact of these regulations on our financial condition and results of operations.

In 2017, the Internal Revenue Service (IRS) commenced an examination of our U.S. income tax returns for 2015. During the second quarter of 2020 we received a Revenue Agent Report (RAR) and held discussions with the IRS regarding a proposed adjustment related to the valuation of certain intellectual property that was contributed into our captive partnership during 2015. The Company agrees with the adjustment as outlined in the RAR and has

recognized a previously unrecognized tax benefit in the second quarter of 2020 that did not result in a significant impact to the financial statements. We anticipate the audit will conclude within the next six months.

We have recorded tax on the undistributed earnings of our controlled foreign corporation (CFC) subsidiaries. To the extent CFC earnings may not be repatriated to the U.S. as a dividend distribution due to limitations imposed by law, we have not recorded the related potential withholding, foreign, local, and U.S. state income taxes.

We continue to maintain a valuation allowance against certain deferred tax assets where realization is not certain.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Asset Acquisition and In-License Agreements We have entered into asset purchase agreements, license agreements, and option arrangements in order to advance and obtain technologies and services related to our business. These agreements generally require us to pay an initial fee and certain agreements call for future payments upon the attainment of agreed upon development, regulatory and/or commercial milestones. These agreements may also require minimum royalty payments based on sales of products developed from the applicable technologies, if any. In January 2019, we entered into an agreement with Caelum, a biotechnology company that is developing CAEL101 for light chain (AL) amyloidosis. Under the terms of the agreement, we acquired a minority equity interest in preferred stock of Caelum and an exclusive option to acquire the remaining equity in Caelum based on Phase II data, for pre-negotiated economics. We paid $30.0 in the first quarter 2019 and agreed to pay up to an additional $30.0 in contingent development milestones prior to the exercise the option to acquire the remaining equity in Caelum. These contingent payments meet the definition of a derivative liability and were initially recorded at fair value of $27.1. We allocated the total consideration of $57.1, inclusive of the fair value of the contingent payments, to the equity investment in Caelum and the option to acquire the remaining equity in Caelum based on the relative fair values of the assets. Following discussions with the FDA, Caelum changed the design of its clinical development program and a Phase II trial for CAEL-101 commenced during the first quarter of 2020 with plans to initiate Phase III trials in the second half of 2020. In December 2019, we amended the terms of the agreement with Caelum to modify the option to acquire the remaining equity in Caelum based on data from the expanded Phase II/III trials. The amendment also modified the development-related milestone events associated with the initial $30.0 in contingent payments, provided for an additional $20.0 in upfront funding, which we accrued as of December 31, 2019 and paid during the first quarter 2020, as well as funding of $60.0 in exchange for an additional equity interest at fair value upon achievement of a specific development-related milestone event. The agreement with Caelum also provides for additional payments, in the event Alexion exercises the purchase option, for up to $500.0, which includes an upfront option exercise payment and potential regulatory and commercial milestone payments. In April 2020, we paid an aggregate of $15.0 of contingent payments to Caelum related to two development-based milestones. In March 2019, we entered into an agreement with Zealand which provides us with exclusive worldwide licenses, as well as development and commercial rights, for subcutaneously delivered preclinical peptide therapies directed at up to four complement pathway targets. Pursuant to the agreement, Zealand will lead joint discovery and research efforts through the preclinical stage, and Alexion will lead development efforts beginning with the investigational new drug filing and Phase I studies. In addition to the agreement, we made an equity investment in Zealand (see Note 10, Other Investments). Under the terms of the agreement, we made an upfront payment of $40.0 for an exclusive license to the lead target and the equity investment, as well as for preclinical research services to be performed by Zealand in relation to the lead target. The market value of the equity investment was $13.8 as of the date of acquisition, which we recorded in other assets in our condensed consolidated balance sheets. We also recognized prepaid research and development expense of $5.0 within the condensed consolidated balance sheets associated with the research activities to be performed by Zealand. Due to the early stage of the asset we are licensing, we recorded the upfront license payment of $21.2 as research and development expense during the first quarter 2019. As of June 30, 2020, we could be required to pay up to $610.0, for the lead target, upon the achievement of specified development, regulatory and commercial milestones, as well as royalties on commercial sales. In addition, we could be required to pay up to an additional $115.0 in development and regulatory milestones if both a long-acting and short-acting product are developed with respect to the lead target. Each of the three subsequent targets can be selected for an option fee of $15.0 and has the potential for additional development, regulatory and commercial milestones, as well as royalty payments, at a reduced price to the lead target. In April 2019, we entered into an agreement with Affibody AB (Affibody), through which Alexion obtained an exclusive worldwide license, as well as development and commercial rights, to ABY-039, a bivalent antibody-mimetic that targets the FcRn. Under the terms of the agreement, we made an upfront payment of $25.0 for the exclusive license to ABY-039. Due to the early stage of the asset we licensed, we recorded the upfront license payment as research and development expense during the second quarter 2019. In February 2020, based on data from our Phase I study, we terminated the agreement to co-develop ABY-039 with Affibody. In September 2019, we entered into an agreement with Eidos through which Alexion obtained an exclusive license to develop and commercialize AG10 in Japan. AG10 is a small molecule designed to treat the root cause of transthyretin amyloidosis (ATTR) and is currently in a Phase III study in the U.S. and Europe for ATTR cardiomyopathy (ATTR-CM). In addition, we made an equity investment in Eidos (see Note 10, Other Investments). Under the terms of the agreement, we made an upfront payment of $50.0 for the exclusive license to AG10 in Japan and the equity investment. The market value of the equity investment was $19.9 as of the date of acquisition, which we recorded in other assets in our condensed consolidated balance sheets. Due to the early stage of the asset we are licensing, we recorded the upfront license payment of $30.1 as research and development expense during the third quarter 2019. As of June 30, 2020, we could also be required to pay $30.0 upon achievement of a Japanese-based regulatory milestone as well as royalties on commercial sales. In October 2018, we entered into a collaboration agreement with Dicerna that provides us with exclusive worldwide licenses and development and commercial rights for two preclinical RNA interference (RNAi) subcutaneously delivered molecules for complement-mediated diseases, as well as an exclusive option for other preclinical RNAi molecules for two additional targets within the complement pathway. In addition to the collaboration agreement, we made an equity investment in Dicerna. Under the terms of the agreements, we made an upfront payment of $37.0 for the exclusive licenses and the equity investment. The market value of the equity investment was $10.3 as of the date of acquisition, which we recorded in other assets in our condensed consolidated balance sheets. Due to the early stage of the assets we are licensing, we recorded the upfront license payment of $26.7 as research and development expense during the fourth quarter 2018. In December 2019, we exercised our option for exclusive rights to two additional targets within the complement pathway under an existing agreement with Dicerna, which expands our existing research collaboration and license agreement with Dicerna to include a total of four targets within the complement pathway. In connection with the option exercise, we paid Dicerna $20.0, which we recorded as research and development expense in the fourth quarter 2019. As of June 30, 2020, excluding accrued milestones, we could be required to pay up to $606.6 for amounts due upon the achievement of specified research, development, regulatory and commercial milestones on the four licensed targets, as well as royalties on commercial sales. In December 2017, we entered into a collaboration and license agreement with Halozyme Therapeutics, Inc. that allows us to use drug-delivery technology in the development of subcutaneous formulations for our portfolio of products for up to four targets. Under the terms of the agreement, we made an upfront payment of $40.0 for an exclusive license to two of the four potential targets and due to the early stage of the assets we are licensing, we recorded an expense for the upfront payment during the fourth quarter 2017. During the second quarter of 2020, we forfeited our rights to one of the two targets we initially licensed. As of June 30, 2020, we could be required to pay up to $155.0 for the remaining licensed target upon achievement of specified development, regulatory and sales-based milestones, as well as royalties on commercial sales. Each of the two subsequent targets can be licensed for an option fee of $8.0, with contingent payments of up to $160.0 per target, subject to development, regulatory and commercial milestones, as well as royalties on commercial sales. In connection with our prior acquisition of Syntimmune, Inc., a clinical-stage biotechnology company developing an antibody therapy targeting the neonatal Fc receptor (FcRn), we could be required to pay up to $800.0 upon the achievement of specified development, regulatory and commercial milestones, of which $130.0 is specific to the subcutaneous formulation. In addition, excluding accrued milestones, as of June 30, 2020, we have other license agreements under which we may be required to pay up to an additional $42.5 for currently licensed targets, if certain development, regulatory and commercial milestones are met. Additional amounts may be payable if we elect to acquire licenses to additional targets, as applicable, under the terms of these agreements. Asset Sale and Out-License Arrangements In connection with prior asset sale and out-license arrangements, Alexion is entitled to receive contingent payments upon the achievement of various regulatory and commercial milestones and other events, as well as royalties on commercial sales. The amount of contingent consideration related to these agreements is fully constrained and therefore has not been recognized as of June 30, 2020. Manufacturing Agreements We have various manufacturing development and license agreements to support our clinical and commercial product needs. We rely on Lonza, a third party manufacturer, to produce a portion of commercial and clinical quantities of our commercial products and product candidates. We have various manufacturing and license agreements with Lonza, with remaining total non-cancellable future commitments of approximately $1,069.6, exclusive of future commitments assumed in connection with our acquisition of Portola. This amount includes $105.5 of undiscounted, fixed payments applicable to our CMO embedded lease arrangement with Lonza. If we terminate certain supply agreements with Lonza without cause, we will be required to pay for product scheduled for manufacture under our arrangement. Under an existing arrangement with Lonza, we also pay Lonza a royalty on sales of SOLIRIS that was manufactured at the Alexion Rhode Island Manufacturing Facility (ARIMF facility) prior to the sale of the facility and a payment with respect to sales of SOLIRIS manufactured at Lonza facilities. We also pay Lonza a royalty on the sales of ULTOMIRIS. In addition to our commitments with Lonza, as of June 30, 2020 we have non-cancellable commitments of approximately $63.1 through 2020 with other third party manufacturers. Contingent Liabilities We are currently involved in various claims, disputes, lawsuits, investigations, administrative proceedings and legal proceedings. On a quarterly basis, we review the status of each significant matter and assess its potential financial exposure. In accordance with generally accepted accounting principles, if the potential loss from any claim, asserted or unasserted, or legal proceeding is considered probable and the amount can be reasonably estimated, we accrue a liability for the estimated loss. Because of uncertainties related to claims, proceedings and litigation, accruals are based on our best estimates based on information available at the time of the assessment. On a periodic basis, as additional information becomes available, or based on specific events such as the outcome of litigation, court decisions or settlement of claims (and offers of settlement), we may reassess the potential liability related to these matters and may revise these estimates, which could result in a material adverse adjustment to our operating results. Costs associated with our involvement in legal proceedings are expensed as incurred. The outcome of any such proceedings, regardless of the merits, is inherently uncertain. If we were unable to prevail in any such proceedings, our consolidated financial position, results of operations, and future cash flows may be materially impacted. We have received, and may in the future receive, notices from third parties claiming that their patents may be infringed by the use, development, manufacture, importation or sale of our products or product candidates. Under the guidance of ASC 450, Contingencies, we record a royalty accrual based on our best estimate of the fair value percent of net sales of our products that we could be required to pay the owners of patents for technology used in the manufacture and sale of our products. A costly license, or inability to obtain a necessary license, could have a material adverse effect on our financial results. In May 2015, we received a subpoena in connection with an investigation by the Enforcement Division of the Securities and Exchange Commission (SEC) requesting information related to our grant-making activities and compliance with the Foreign Corrupt Practices Act (FCPA) in various countries. In addition, in October 2015, we received a request from the Department of Justice (DOJ) for the voluntary production of documents and other information pertaining to Alexion’s compliance with the FCPA. The SEC and DOJ also sought information related to Alexion’s recalls of specific lots of SOLIRIS and related securities disclosures. The investigations focused on operations in various countries, including Brazil, Colombia, Japan, Russia and Turkey, and Alexion's compliance with the FCPA and other applicable laws. In May 2020, DOJ informed us that it has closed its inquiry into these matters. On July 2, 2020, we reached a civil settlement with the SEC fully resolving the SEC’s investigation into possible violations of the FCPA. Alexion neither admitted nor denied any wrongdoing in connection with the settlement but agreed to pay $21.5 to the SEC, consisting of amounts attributable to disgorgement, civil penalties, and pre-judgment interest. In July 2020, we remitted $21.5 to the SEC and this amount has been recorded as an accrued liability on the condensed consolidated balance sheet at June 30, 2020. Alexion is committed to continually focusing on its compliance program and continues to enhance its comprehensive company-wide program that is designed to enhance our business processes, structures, controls, training, talent, and systems across Alexion’s global operations. As previously reported, on December 29, 2016, a shareholder filed a putative class action against the Company and certain former employees in the U.S. District Court for the District of Connecticut, alleging that defendants made misrepresentations and omissions about SOLIRIS. On April 12, 2017, the court appointed a lead plaintiff. On July 14, 2017, the lead plaintiff filed an amended putative class action complaint against the Company and seven current or former employees. Defendants moved to dismiss the amended complaint on September 12, 2017. Plaintiffs filed an opposition to defendants’ motion to dismiss on November 13, 2017, and defendants filed a reply brief in further support of their motion on December 28, 2017. On March 26, 2019, the court held a telephonic status conference. During that conference, the court informed counsel that it was preparing a ruling granting the defendants’ pending motion to dismiss. The court inquired of plaintiffs’ counsel whether they intended to seek leave to amend their complaint, and indicated that if they wished to file a second amended complaint, they would be allowed to do so. On April 2, 2019, the court granted plaintiffs until May 31, 2019 to file a second amended complaint, thereby rendering moot defendants’ pending motion to dismiss. On May 31, 2019, plaintiffs filed a second amended complaint against the same defendants. The complaint alleges that defendants engaged in securities fraud, including by making misrepresentations and omissions in its public disclosures concerning the Company’s SOLIRIS sales practices, management changes, and related investigations, between January 30, 2014 and May 26, 2017, and that the Company's stock price dropped upon the purported disclosure of the alleged fraud. The plaintiffs seek to recover unspecified monetary relief, unspecified equitable and injunctive relief, interest, and attorneys’ fees and costs. Defendants’ filed a motion to dismiss the amended complaint on August 2, 2019; plaintiffs’ filed their opposition to that motion on October 2, 2019; and defendants’ filed their reply in further support of their motion on November 16, 2019. Given the early stage of these proceedings, we cannot presently predict the likelihood of obtaining dismissal of the case (or the ultimate outcome of the case if the motion to dismiss is denied by the court), nor can we estimate the possible loss or range of loss at this time. In December 2016, we received a subpoena from the U.S. Attorney's Office for the District of Massachusetts requesting documents relating generally to our support of Patient Services, Inc. (PSI) and National Organization for Rare Disorders (NORD), 501(c)(3) organizations that provide financial assistance to Medicare patients taking drugs sold by Alexion; Alexion’s provision of free drug to Medicare patients; and Alexion compliance policies and training materials concerning the anti-kickback statute and information on donations to PSI and NORD from 2010 through 2016. In April 2019, we entered into a civil settlement agreement with the DOJ and the Office of Inspector General (OIG) of the U.S. Department of Health and Human Services to resolve this matter. As part of the settlement agreement, Alexion paid $13.1 to the DOJ and OIG. OIG did not require a Corporate Integrity Agreement with Alexion because it made fundamental organizational changes, including hiring a new executive leadership team, replacing half of the members of its Board of Directors, and effecting a significant change in the workforce. In May 2017, Brazilian authorities seized records and data from our Sao Paulo, Brazil offices as part of an investigation being conducted into Alexion’s Brazilian operations. We are cooperating with this inquiry. In June 2017, we received a demand to inspect certain of our books and records pursuant to Section 220 of the General Corporation Law of the State of Delaware on behalf of a purported stockholder. Among other things, the demand sought to determine whether to institute a derivative lawsuit against certain of the Company’s directors and officers in relation to the investigation by our Audit and Finance Committee announced in November 2016 and the investigations instituted by the SEC, DOJ, U.S. Attorney’s Office for the District of Massachusetts, and Brazilian law enforcement officials that are described above. We have responded to the demand. Given the early stages of this matter, an estimate of the possible loss or range of loss cannot be made at this time. On September 27, 2017, a hearing panel of the Canadian Patented Medicine Prices Review Board (PMPRB) issued a decision in a previously pending administrative pricing matter that we had excessively priced SOLIRIS in a manner inconsistent with the Canadian pricing rules and guidelines. In its decision, the PMPRB ordered Alexion to decrease the price of SOLIRIS to an upper limit based upon pricing in certain other countries, and to forfeit excess revenues for the period between 2009 and 2017. The amount of excess revenues for the period between 2009 and 2017 was not determined to be a material amount and was paid in 2018. In October 2017, Alexion filed an application for judicial review of the PMPRB’s decision in the Federal Court of Canada. On May 23, 2019, the Federal Court of Canada dismissed Alexion's application for judicial review and, as a consequence, affirmed the decision of the PMPRB that we had excessively priced SOLIRIS. On June 21, 2019, Alexion filed a notice of appeal of the Federal Court of Canada's ruling and on October 17, 2019, Alexion filed a memorandum of fact and law in support of the appeal. On December 3, 2019, the Attorney General of Canada filed its memorandum of fact and law in support of the Federal Court of Canada's dismissal of Alexion's appeal of the PMPRB's decision. On December 19, 2019, intervenor, the Minister of Health for the Province of British Columbia, filed a separate memorandum of fact and law in support of the Federal Court of Canada's decision. A hearing date for the appeal has been set for the week of October 19, 2020. Pursuant to an order made by the Federal Court of Canada, as of July 28, 2020, we have placed approximately $54.5 in escrow to secure our obligations pending the final resolution of all appeals in this matter. This amount reflects the difference between the list price for SOLIRIS and the price determined by the PMPRB to be non-excessive for sales of SOLIRIS in Canada for the period beginning September 2017 through June 30, 2020. In addition, on a quarterly basis until the appeals process has concluded, Alexion will be required to place amounts into escrow for each vial of SOLIRIS sold in the applicable quarter equal to the list price for SOLIRIS and the price determined by the PMPRB to be non-excessive. Our revenues in Canada have been reduced by $36.8 cumulatively to date, which is our current best estimate of our liability through June 30, 2020 if we lose the appeal of this matter (the amount of our ultimate liability, however, may be greater than this estimate when the appeal process for this matter is concluded). Chugai Pharmaceutical Co., Ltd. has filed three lawsuits against Alexion. The first was filed in November 2018 in the United States District Court for the District of Delaware against Alexion Pharmaceuticals, Inc. alleging that ULTOMIRIS infringes one U.S. patent held by Chugai Pharmaceutical Co., Ltd. Upon issuance of a new U.S. patent on November 12, 2019, Chugai filed a second lawsuit in the United States alleging that ULTOMIRIS infringes the new patent. The parties have agreed to consolidate the November 2018 and November 2019 lawsuits. Chugai filed a third lawsuit in December 2018 in the Tokyo District Court against Alexion Pharma GK (a wholly-owned subsidiary of Alexion) in Japan and alleges that ULTOMIRIS infringes two Japanese patents held by Chugai Pharmaceutical Co., Ltd. Chugai’s complaints seek unspecified damages and certain injunctive relief. On March 5, 2020, the Supreme Court of Japan conclusively affirmed an earlier IP High Court of Japan decision which held that one of the Chugai patents-in-suit is invalid. Subsequently Chugai filed a correction to the claims of this patents-in-suit and Alexion has countered that the corrected claims are still invalid and not infringed. In all cases, Alexion has denied the charges and countered that the patents are neither valid nor infringed. A trial date for the U.S. case has been set for July 2021. The case is still at the briefing stage in Japan. Given the early stages of these litigations, an estimate of the possible loss or range of loss cannot be made at this time. On February 28, 2019, Amgen Inc. (Amgen) petitioned the U.S. Patent and Trademark Office (PTO) to institute Inter Partes Review (IPR) of three patents owned by Alexion that relate to SOLIRIS: U.S. Patent Nos. 9,725,504; 9,718,880; and 9,732,149. In each case, Amgen alleged the patented subject matter was anticipated and/or obvious in view of prior art, and that the patent claims are therefore invalid. On August 30, 2019, the PTO instituted IPRs of each of the three patents. On May 28, 2020, we entered into a Confidential Settlement and License Agreement (the “Settlement Agreement ”) with Amgen to settle the three IPRs at the Patent Trial and Appeal Board (“PTAB”) of the PTO. Pursuant to the Settlement Agreement, Alexion and Amgen have terminated each of the pending IPRs. In addition, effective March 1, 2025 (or an earlier date in certain circumstances), the Company grants to Amgen (and its affiliates and certain partners) a non-exclusive, royalty-free, license under U.S. patents and patent applications related to eculizumab and various aspects of the eculizumab product that Alexion currently markets and sells under the tradename SOLIRIS. This license will allow Amgen (and its affiliates and certain partners), effective March 1, 2025, the right to make, have made, use, import, have imported, sell, have sold, offer for sale, have offered for sale, distribute, and have distributed in or for the U.S., an eculizumab product. In connection with an ongoing matter, in August 2019, the Brazilian Federal Revenue Service provided a Notice of Tax and Description of the Facts (the “Tax Assessment”) to two Alexion subsidiaries (the "Brazil Subsidiaries"), as well as to two additional entities, a logistics provider utilized by Alexion and a distributor. The Tax Assessment focuses on the importation of SOLIRIS vials pursuant to Alexion’s free drug supply to patients program (referred to as Global Access to Medicines, or GATM) in Brazil. In September 2019, the Brazil Subsidiaries filed defenses to the Tax Assessment disputing the basis for liability under the Tax Assessment based on, among others, the following: in connection with the operation of GATM, during the period from September 2014 to June 2019: (i) the importers responsible for the importation of the GATM SOLIRIS vials into Brazil were correctly identified and (ii) the correct customs value was utilized for the purpose of importing the GATM SOLIRIS vials provided to the patients free of charge. The defenses filed by Alexion are pending judgment at the first level of administrative appeals within the Brazilian federal administrative proceeding system. There are three separate levels of administrative appeals within the Brazilian federal administrative proceeding system and, if the outcome of these administrative appeals is unfavorable, the final decision of the federal administrative proceeding system can be disputed to the federal court systems in Brazil (at this time, Alexion intends to appeal the Tax Assessment if it is not overturned in the course of administrative appeals). Given the early stage of these proceedings, Alexion is unable to predict the duration, scope or outcome of this matter, but we expect that a final resolution will take three years or more. While it is possible that a loss related to the Tax Assessment may be incurred, given its ongoing nature, we cannot reasonably estimate the potential magnitude of any such possible loss or range of loss, or the cost of the ongoing administrative appeals (and potential appeals to the federal court system) of the Tax Assessment. Any determination that any aspects of the importation of free of charge medications into Brazil as set forth in the Tax Assessment are not or were not in compliance with existing laws or regulations could result in the imposition of fines, civil penalties and, potentially criminal penalties, and/or other sanctions against us and could have an adverse impact on our Brazilian operations.

Basis of Presentation and Principles Of Consolidation (Policies)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates Preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent liabilities in our condensed consolidated financial statements. Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain. We are not aware of any specific event or circumstance that would require an update to our estimates, judgments and assumptions or a revision of the carrying value of our assets or liabilities as of July 30, 2020, the date of issuance of this Quarterly Report on Form 10-Q. These estimates may change, as new events occur and additional information is obtained. Actual results may differ from these estimates under different assumptions or conditions and such differences may be material.
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Update (ASU) 2019-12, “Income Taxes: Simplifying the Accounting for Income Taxes”: In December 2019, the Financial Accounting Standards Board (FASB) issued a new standard intended to simplify the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for annual periods beginning after December 15, 2020 and interim periods within, with early adoption permitted. Adoption of the standard requires certain changes to be made prospectively, with some changes to be made retrospectively. We do not expect the adoption of this standard to have a material impact on our financial condition and results of operations. ASU 2020-01, “Investments - Equity Securities, Investments - Equity Method and Joint Ventures, and Derivatives and Hedging - Clarifying the Interactions Between Topic 321, Topic 323, and Topic 815”: In January 2020, the FASB issued a new standard intended to clarify the interactions between Accounting Standards Codification (ASC) 321, ASC 323 and ASC 815. The new standard addresses accounting for the transition into and out of the equity method and measurement of certain purchased options and forward contracts to acquire investments. The standard is effective for annual and interim periods beginning after December 15, 2020, with early adoption permitted. Adoption of the standard requires changes to be made prospectively. We do not expect the adoption of this standard to have a material impact on our financial condition and results of operations. ASU 2020-04, “Reference Rate Reform, Facilitation of the Effects of Reference Rate Reform on Financial Reporting": In response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of the London Interbank Offered Rate (LIBOR), regulators around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction-based and less susceptible to manipulation. In March 2020, the FASB issued a new standard that provides optional guidance for a limited time to ease the potential burden in accounting for the effects of reference rate reform, including optional expedients and exceptions for the accounting implications of contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this new standard only apply to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. The expedients and exceptions provided by the standard do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. We are currently reviewing our contracts impacted by reference rate reform and are assessing the impact of this standard on our financial condition and results of operations. Recently Adopted Accounting Pronouncements ASU 2018-15, "Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract": In August 2018, the FASB issued a new standard on a customer's accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement (CCA) that aligns the requirements for capitalizing implementation costs in a CCA service contract with existing internal-use software guidance. The standard also provides classification guidance on these implementation costs as well as additional quantitative and qualitative disclosures. The standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted, and can be adopted prospectively or retrospectively. We adopted the new standard on January 1, 2020 on a prospective basis. The adoption of this standard had no impact on our financial statements at the date of adoption; however, we anticipate the adoption of this standard will result in an increase in capitalized assets related to qualifying CCA implementation costs in future periods. Qualifying CCA implementation, set-up and other upfront costs incurred after January 1, 2020 are capitalized as other assets in our condensed consolidated balance sheets. These assets will be expensed over the term of the hosting arrangement and such expense will be presented within the same line item in our condensed consolidated statements of operations as the expense for fees for the associated hosting arrangement. These capitalized costs will be evaluated for impairment when events or changes in circumstances indicate that the carrying value of the capitalized implementation costs is not recoverable. For the six months ended June 30, 2020, capitalized CCA implementation costs were not material. ASU 2016-13, "Measurement of Credit Losses on Financial Instruments": In June 2016, the FASB issued a new standard intended to improve reporting requirements specific to loans, receivables and other financial instruments. The new standard requires that credit losses on financial assets measured at amortized cost be determined using an expected loss model, instead of the current incurred loss model, and requires that credit losses related to available-for-sale debt securities be recorded through an allowance for credit losses and limited to the amount by which carrying value exceeds fair value. The new standard also requires enhanced disclosure of credit risk associated with financial assets. The standard is effective for interim and annual periods beginning after December 15, 2019 with early adoption permitted. We adopted the new standard on January 1, 2020 and have completed our assessment of the standard based on the composition of our portfolio of financial instruments and current and forecasted economic conditions at that date. Our significant financial assets that are within the scope of the new standard consist of trade accounts receivable and available for sale debt securities. We have not historically experienced any material credit losses associated with our trade accounts receivable or available for debt securities. We monitor economic conditions, including volatility associated with international economies and the associated impacts on the financial markets and our business. We disaggregate our trade accounts receivable population into pools of similar risk characteristics based on underlying customer type and geographical location. Current expected credit loss allowances are estimated for each risk pool based on available information, including i) historical credit loss experience, ii) current economic conditions and, iii) reasonable and supportable forecasts of future economic conditions that may affect the collectibility of the recorded amounts. Based on the relevant facts and economic conditions as of the date of adoption, we concluded that the expected credit losses on our trade accounts receivable were immaterial. Additionally, unrealized losses on our available for sale investment portfolio were immaterial. As of June 30, 2020, we reassessed our estimated credit losses on our trade accounts receivable, including consideration of the potential impacts of the COVID-19 global pandemic. Based on the relevant facts and economic conditions as of June 30, 2020, we concluded that the expected credit losses on our trade accounts receivable continued to be immaterial.

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Summary of Total Consideration Transferred

The following table summarizes the total consideration transferred to acquire Achillion and the estimated fair value of the identified assets acquired and liabilities assumed at the acquisition date:


Consideration
Upfront payment to shareholders and option holders	$	926.2
Upfront payment, fair value of equity compensation attributable to the post-combination service period	(20.0)
Upfront cash paid, net	906.2

Contingent consideration	160.7
Contingent consideration, fair value of equity compensation attributable to the post-combination service period	(5.7)
Total consideration	$	1,061.2

Assets Acquired and Liabilities Assumed
Cash and cash equivalents	$	68.5
Marketable securities	106.1
In-process research & development assets (IPR&D)	918.0
Goodwill	37.8
Deferred tax liabilities, net	(62.9)
Other assets and liabilities, net	(6.3)
Total net assets acquired	$	1,061.2

Summary of Pro Forma Information


	Three months ended June 30						Six months ended June 30
	2020		2019		2020		2019
Pro forma revenue	$	1,444.6	$	1,203.3	$	2,889.4	$	2,343.7
Pro forma net (loss) income	$	(1,068.1)	$	440.3	$	(493.2)	$	956.0

Summary of Acquisition-Related Costs


	Three months ended June 30,						Six months ended June 30,
	2020		2019		2020		2019
Transaction costs ⁽¹⁾	$	4.2	$	—	$	5.6	$	—
Integration costs	0.9		—		1.0		—
Fair value of equity compensation attributable to the post-combination service period	—		—		25.7		—
Restructuring-related costs⁽²⁾	(0.5)		—		10.4		—
	$	4.6	$	—	$	42.7	$	—

(1) Transaction costs primarily include legal fees related to the acquisition of Portola as well as costs incurred to effectuate the settlement of the Achillion outstanding options

Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Inventory, Net [Abstract]

Schedule of Inventory, Current

The components of inventory are as follows:


	June 30,		December 31,
	2020		2019
Raw materials	$	73.9	$	41.2
Work-in-process	81.3		180.8
Finished goods	422.5		405.6
	$	577.7	$	627.6

Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following table summarizes the carrying amount of our intangible assets and goodwill, net of accumulated amortization and impairment charges:


		June 30, 2020											December 31, 2019
	Estimated Life (years)	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization		Net
Licensing rights	3-8	$	57.0	$	(36.5)		$	20.5	$	57.0	$	(34.7)	$	22.3
Patents	7	10.5		(10.5)			—		10.5		(10.5)		—
Purchased technology	6-16	4,710.5		(3,578.4)		(a)	1,132.1		4,710.5		(1,388.7)		3,321.8
Other intangibles	5	0.4		(0.3)			0.1		0.4		(0.2)		0.2
Acquired IPR&D	Indefinite	907.0		—			907.0		—		—		—
Total		$	5,685.4	$	(3,625.7)		$	2,059.7	$	4,778.4	$	(1,434.1)	$	3,344.3
Goodwill	Indefinite	$	5,078.1	$	(2.9)		$	5,075.2	$	5,040.3	$	(2.9)	$	5,037.4
(a) Includes an impairment charge of $2,042.3 recognized during the second quarter 2020 related to the KANUMA intangible asset

Summary of Changes in Goodwill

The following summarizes the changes in the carrying amount of goodwill:


	June 30, 2020
Balance at December 31, 2019	$	5,037.4
Goodwill resulting from the acquisition of Achillion	37.8
Balance at June 30, 2020	$	5,075.2

Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Common Share [Abstract]

Schedule Of Basic And Diluted Earnings Per Share

The following table summarizes the calculation of basic and diluted EPS for the three and six months ended June 30, 2020 and 2019:


	Three months ended						Six months ended
	June 30,						June 30,
	2020		2019		2020		2019
Net (loss) income used for basic and diluted calculation	$	(1,068.1)	$	459.8	$	(510.5)	$	1,047.7
Shares used in computing earnings (loss) per common share—basic	220.6		224.2		221.1		224.0
Weighted-average effect of dilutive securities:
Stock awards	—		1.4		—		1.7
Shares used in computing earnings (loss) per common share—diluted	220.6		225.6		221.1		225.7
Earnings (loss) per common share:
Basic	$	(4.84)	$	2.05	$	(2.31)	$	4.68
Diluted	$	(4.84)	$	2.04	$	(2.31)	$	4.64

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Realized Gain (Loss) on Investments


	Three months ended						Six months ended
	June 30,						June 30,
	2020		2019		2020		2019
Proceeds from maturities and sales ⁽¹⁾	$	204.5	$	798.6	$	1,016.9	$	1,626.3
Realized gains	$	—	$	—	$	—	$	—
Realized losses	$	—	$	—	$	—	$	—
(1) Proceeds from maturities and sales of available-for-sale debt securities include securities previously classified as cash and cash equivalents and marketable securities in the condensed consolidated balance sheet

Schedule of Available-for-sale Securities Reconciliation

The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of available-for-sale debt securities by type of security as of December 31, 2019 were as follows:


	December 31, 2019
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Fair Value
Commercial paper	$	246.9	$	—	$	—	$	246.9
Corporate bonds	24.3		—		—		24.3
Other government-related obligations:
U.S.	70.4		—		—		70.4
Bank certificates of deposit	27.4		—		—		27.4
Total available-for-sale debt securities	$	369.0	$	—	$	—	$	369.0

Available-for-sale Securities by Balance Sheet Location Classification

The fair values of available-for-sale debt securities by classification in the condensed consolidated balance sheets were as follows:


	June 30, 2020		December 31, 2019
Cash and cash equivalents	$	—	$	328.1
Marketable securities	—		40.9
	$	—	$	369.0

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities [Abstract]

Schedule of Interest Rate Contracts

The following table summarizes the total interest rate swap contracts executed as of June 30, 2020:

Type of Interest Rate Swap Contract

Notional Amount

Effective Date

Termination Date

Fixed Interest Rate or Rate Range

Floating to Fixed

$450.0

December 2018

December 2022

2.60% - 2.79%

Floating to Fixed

$1,300.0

December 2019

December 2022

2.37% - 2.83%

Schedule of Other Comprehensive Income and Earnings from Foreign Exchange Contracts


	Three months ended						Three months ended
	June 30, 2020						June 30, 2019
Financial Statement Line Item in which the Effects of Cash Flow Hedges are Recorded	Net Product Sales		Interest Expense		Net Product Sales		Interest Expense
Total amount presented in the Condensed Consolidated Statements of Operations	$	1,444.5	$	(23.6)	$	1,202.5	$	(18.3)
Impact of cash flow hedging relationships:
Foreign exchange forward contracts	$	9.5	$	—	$	9.1	$	—
Interest rate swap contracts	$	—	$	(10.0)	$	—	$	4.5


	Six months ended						Six months ended
	June 30, 2020						June 30, 2019
Financial Statement Line Item in which the Effects of Cash Flow Hedges are Recorded	Net Product Sales		Interest Expense		Net Product Sales		Interest Expense
Total amount presented in the Condensed Consolidated Statements of Operations	$	2,889.1	$	(49.4)	$	2,342.7	$	(38.2)
Impact of cash flow hedging relationships:
Foreign exchange forward contracts	$	20.9	$	—	$	16.1	$	—
Interest rate swap contracts	$	—	$	(14.6)	$	—	$	9.1


	Three months ended						Six months ended
	June 30,						June 30,
	2020		2019		2020		2019
Foreign Exchange Forward Contracts:
(Loss) gain recognized in AOCI, net of tax	$	(6.1)	$	(3.9)	$	19.9	$	10.3
Gain reclassified from AOCI to net product sales, net of tax	$	7.4	$	7.0	$	16.2	$	12.4
Interest Rate Swap Contracts:
Loss recognized in AOCI, net of tax	$	(5.4)	$	(24.6)	$	(52.7)	$	(38.8)
(Loss) gain reclassified from AOCI to interest expense, net of tax	$	(7.7)	$	3.4	$	(11.3)	$	7.0

Schedule of Fair Value of Outstanding Derivatives

The following tables summarize the fair value of outstanding derivatives as of June 30, 2020 and December 31, 2019:

June 30, 2020

Derivative Assets

Derivative Liabilities

Balance Sheet
Location

Fair
Value

Balance Sheet
Location

Fair
Value

Derivatives designated as hedging instruments:

Foreign exchange forward contracts

Prepaid expenses and other current assets

14.6

Other current liabilities

3.6

Foreign exchange forward contracts

Other assets

—

Other liabilities

0.4

Interest rate swap contracts

Prepaid expenses and other current assets

—

Other current liabilities

45.5

Interest rate swap contracts

Other assets

—

Other liabilities

69.6

Derivatives not designated as hedging instruments:

Foreign exchange forward contracts

Prepaid expenses and other current assets

28.9

Other current liabilities

20.6

Total fair value of derivative instruments

43.5

139.7

December 31, 2019

Derivative Assets

Derivative Liabilities

Balance Sheet
Location

Fair
Value

Balance Sheet
Location

Fair
Value

Derivatives designated as hedging instruments:

Foreign exchange forward contracts

Prepaid expenses and other current assets

12.7

Other current liabilities

6.2

Foreign exchange forward contracts

Other assets

0.6

Other liabilities

1.1

Interest rate swap contracts

Prepaid expenses and other current assets

—

Other current liabilities

19.5

Interest rate swap contracts

Other assets

—

Other liabilities

41.9

Derivatives not designated as hedging instruments:

Foreign exchange forward contracts

Prepaid expenses and other current assets

17.2

Other current liabilities

20.4

Total fair value of derivative instruments

30.5

89.1

Offsetting Assets and Liabilities

The following tables summarize the potential effect on our condensed consolidated balance sheets of offsetting our foreign exchange forward contracts and interest rate contracts subject to such provisions:


	June 30, 2020
							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
Description	Gross Amounts of Recognized Assets/Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheet		Net Amounts of Assets/Liabilities Presented in the Condensed Consolidated Balance Sheet		Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	43.5	$	—	$	43.5	$	(23.3)	$	—	$	20.2
Derivative liabilities	$	(139.7)	$	—	$	(139.7)	$	23.3	$	—	$	(116.4)


	December 31, 2019
							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
Description	Gross Amounts of Recognized Assets/Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheet		Net Amounts of Assets/Liabilities Presented in the Condensed Consolidated Balance Sheet		Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	30.5	$	—	$	30.5	$	(21.4)	$	—	$	9.1
Derivative liabilities	$	(89.1)	$	—	$	(89.1)	$	21.4	$	—	$	(67.7)

Other Comprehensive Income and Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2020

Accumulated Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables summarize the changes in AOCI, by component, for the six months ended June 30, 2020 and 2019:


	Defined Benefit Pension Plans		Unrealized Gains (Losses) from Debt Securities		Unrealized Gains (Losses) from Hedging Activities		Foreign Currency Translation Adjustment		Total Accumulated Other Comprehensive Income (Loss)
Balances, December 31, 2019	$	(9.2)	$	(0.1)	$	(40.1)	$	(17.4)	$	(66.8)
Other comprehensive income (loss) before reclassifications	—		0.1		(32.8)		(6.5)		(39.2)
Amounts reclassified from other comprehensive income	—		—		(4.9)		—		(4.9)
Net other comprehensive income (loss)	—		0.1		(37.7)		(6.5)		(44.1)
Balances, June 30, 2020	$	(9.2)	$	—	$	(77.8)	$	(23.9)	$	(110.9)


	Defined Benefit Pension Plans		Unrealized Gains (Losses) from Debt Securities		Unrealized Gains (Losses) from Hedging Activities		Foreign Currency Translation Adjustment		Total Accumulated Other Comprehensive Income (Loss)
Balances, December 31, 2018	$	(2.6)	$	(0.3)	$	9.6	$	(16.4)	$	(9.7)
Other comprehensive income (loss) before reclassifications	—		0.2		(28.5)		(0.5)		(28.8)
Amounts reclassified from other comprehensive income	—		—		(19.4)		—		(19.4)
Net other comprehensive income (loss)	—		0.2		(47.9)		(0.5)		(48.2)
Balances, June 30, 2019	$	(2.6)	$	(0.1)	$	(38.3)	$	(16.9)	$	(57.9)

Reclassification out of Accumulated Other Comprehensive Income

The table below provides details regarding significant reclassifications from AOCI during the three and six months ended June 30, 2020 and 2019:


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income during the three months ended June 30,									Amount Reclassified From Accumulated Other Comprehensive Income during the six months ended June 30,			Affected Line Item in the Condensed Consolidated Statements of Operations
			2020			2019			2020			2019
Unrealized Gains (Losses) on Hedging Activity
Foreign exchange forward contracts	$	9.5		$	9.1		$	20.9		$	16.1	Net product sales
Interest rate swap contracts	(10.0)			4.5			(14.6)			9.1		Interest expense
	(0.5)			13.6			6.3			25.2
	0.2			(3.2)			(1.4)			(5.8)		Income tax (benefit) expense
	$	(0.3)		$	10.4		$	4.9		$	19.4

Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule Of Assets And Liabilites Measured At Fair Value


		Fair Value Measurement at June 30, 2020
Balance Sheet Classification	Type of Instrument	Total		Level 1		Level 2		Level 3
Cash equivalents	Money market funds	$	1,212.8	$	—	$	1,212.8	$	—



Marketable securities	Mutual funds	$	26.8	$	26.8	$	—	$	—




Other assets	Equity securities	$	123.6	$	98.9	$	24.7	$	—
Prepaid expenses and other current assets	Foreign exchange forward contracts	$	43.5	$	—	$	43.5	$	—

Other current liabilities	Foreign exchange forward contracts	$	24.2	$	—	$	24.2	$	—
Other liabilities	Foreign exchange forward contracts	$	0.4	$	—	$	0.4	$	—


Other current liabilities	Interest rate contracts	$	45.5	$	—	$	45.5	$	—
Other liabilities	Interest rate contracts	$	69.6	$	—	$	69.6	$	—

Contingent consideration	Acquisition-related contingent consideration	$	374.7	$	—	$	—	$	374.7
Other current liabilities	Other contingent payments	$	11.4	$	—	$	—	$	11.4


		Fair Value Measurement at December 31, 2019
Balance Sheet Classification	Type of Instrument	Total		Level 1		Level 2		Level 3
Cash equivalents	Money market funds	$	635.9	$	—	$	635.9	$	—
Cash equivalents	Commercial paper	$	227.9	$	—	$	227.9	$	—
Cash equivalents	Corporate bonds	$	20.6	$	—	$	20.6	$	—
Cash equivalents	Bank certificates of deposit	$	19.2	$	—	$	19.2	$	—
Cash equivalents	Other government-related obligations	$	60.4	$	—	$	60.4	$	—
Marketable securities	Mutual funds	$	23.1	$	23.1	$	—	$	—
Marketable securities	Commercial paper	$	19.0	$	—	$	19.0	$	—
Marketable securities	Corporate bonds	$	3.7	$	—	$	3.7	$	—
Marketable securities	Other government-related obligations	$	10.0	$	—	$	10.0	$	—
Marketable securities	Bank certificates of deposit	$	8.2	$	—	$	8.2	$	—
Other assets	Equity securities	$	79.0	$	51.2	$	27.8	$	—
Prepaid expenses and other current assets	Foreign exchange forward contracts	$	29.9	$	—	$	29.9	$	—
Other assets	Foreign exchange forward contracts	$	0.6	$	—	$	0.6	$	—
Other current liabilities	Foreign exchange forward contracts	$	26.6	$	—	$	26.6	$	—
Other liabilities	Foreign exchange forward contracts	$	1.1	$	—	$	1.1	$	—
Other current liabilities	Interest rate contracts	$	19.5	$	—	$	19.5	$	—

Other liabilities	Interest rate contracts	$	41.9	$	—	$	41.9	$	—
Contingent consideration	Acquisition-related contingent consideration	$	192.4	$	—	$	—	$	192.4
Other current liabilities	Other contingent payments	$	24.0	$	—	$	—	$	24.0

Schedule Of Acquisition-Related Contingent Consideration

he following table represents a roll-forward of our acquisition-related contingent consideration:


	Six Months Ended June 30, 2020
Balance at beginning of period	$	192.4
Amounts issued	160.7
Changes in fair value	21.6
Balance at end of period	$	374.7

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue from contracts with customer

The Company disaggregates revenue from contracts with customers into product and geographical regions as summarized below.


	Three months ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
SOLIRIS
United States	$	553.3	$	496.3	$	1,109.5	$	960.0
Europe	247.9		280.2		511.4		544.7
Asia Pacific	82.4		110.3		169.5		211.2
Rest of World	91.9		94.0		208.0		226.9
Total	$	975.5	$	980.8	$	1,998.4	$	1,942.8

ULTOMIRIS
United States	$	158.1	$	54.2	$	289.6	$	78.8
Europe	32.0		—		65.8		—
Asia Pacific	59.6		—		116.7		—
Rest of World	1.4		—		1.8		—
Total	$	251.1	$	54.2	$	473.9	$	78.8

STRENSIQ
United States	$	140.7	$	106.2	$	268.8	$	205.7
Europe	18.3		19.5		42.3		37.0
Asia Pacific	15.0		12.1		28.6		22.0
Rest of World	10.3		3.5		16.8		6.7
Total	$	184.3	$	141.3	$	356.5	$	271.4

KANUMA
United States	$	15.4	$	15.3	$	31.8	$	29.1
Europe	8.4		6.8		15.9		13.1
Asia Pacific	0.9		1.3		1.8		2.1
Rest of World	8.9		2.8		10.8		5.4
Total	$	33.6	$	26.2	$	60.3	$	49.7

Total Net Product Sales	$	1,444.5	$	1,202.5	$	2,889.1	$	2,342.7

Summary of receivables and contract liabilities from contracts


	June 30, 2020		December 31, 2019
Receivables, which are included in "Trade accounts receivable, net"	$	1,372.2	$	1,243.2
Contract liabilities, which are included in "Other current liabilities"	$	24.7	$	6.8

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision and Effective Tax Rate

The following table provides a comparative summary of our income tax expense and effective income tax rate for the three and six months ended June 30, 2020 and 2019:


	Three months ended									Six months ended
	June 30,									June 30,
	2020			2019			2020			2019
Income tax (benefit) expense	$	(284.0)		$	39.7		$	(178.0)		$	(6.4)
Effective income tax rate	21.0		%	7.9		%	25.9		%	(0.6)		%

Acquisitions (Narrative) (Details) - USD ($)			3 Months Ended		6 Months Ended
Acquisitions (Narrative) (Details) - USD ($)	Jul. 02, 2020	Jan. 28, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Contingent consideration			$ 374,700,000		$ 374,700,000		$ 192,400,000
Change in fair value of contingent consideration			15,800,000	$ 6,100,000	21,600,000	$ (22,600,000)
Upfront payment, fair value of equity compensation attributable to the post-combination service period			0	0	$ (25,700,000)	0
Fair Value Inputs, Weighted Average Cost of Capital					11.50%
Achillion
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Total acquisition value, per share (in dollars per share)		$ 6.30
Upfront payment to shareholders and option holders		$ 926,200,000
Goodwill adjustments			3,100,000
Contingent consideration		160,700,000	190,100,000		$ 190,100,000
Contingent consideration, post-combination service period compensation		5,700,000
Change in fair value of contingent consideration			27,600,000		29,300,000
Upfront payment, fair value of equity compensation attributable to the post-combination service period		(20,000,000.0)			(25,700,000)
Net deferred tax liability		(62,900,000)
Deferred tax assets		$ 142,400,000
Operating loss since acquisition			12,900,000		$ 26,800,000
Acquisition costs not expensed				$ (100,000)		$ 53,200,000
Portola Pharmaceuticals, Inc. \| Subsequent Event
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Total acquisition value, per share (in dollars per share)	$ 18.00
Upfront payment to shareholders and option holders	$ 1,380,100,000
Repayments of debt	196,900,000
Assumed royalty payment debt	$ 290,000,000.0
Danicopan \| Achillion
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Contingent value rights per share (in dollars per share)		$ 1.00
ACH-5528, Phase 3 \| Achillion
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Contingent value rights per share (in dollars per share)		$ 1.00
Minimum \| Achillion
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Estimated milestone payments		$ 0
Maximum \| Achillion
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Estimated milestone payments		$ 306,300,000
Acquisition-related contingent consideration \| Minimum \| Level 3
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Fair Value Inputs, Cost of Debt		2.10%			0.40%
Fair Value Inputs, Weighted Average Cost of Capital					9.00%
Acquisition-related contingent consideration \| Maximum \| Level 3
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Fair Value Inputs, Cost of Debt		2.30%			0.70%
In-process research & development assets (IPR&D)
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Impairment			$ 11,000,000.0
In-process research & development assets (IPR&D) \| Achillion
Schedule Of Asset Acquisition, By Acquisition [Line Items]
In-process research & development assets (IPR&D)		$ 918,000,000.0
Net deferred tax liability		$ (205,300,000)

Acquisitions (Summary of Total Consideration) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jan. 28, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Consideration
Upfront payment, fair value of equity compensation attributable to the post-combination service period		$ 0.0	$ 0.0	$ (25.7)	$ 0.0
Contingent consideration		374.7		374.7		$ 192.4
Assets Acquired and Liabilities Assumed
Goodwill		5,075.2		5,075.2		$ 5,037.4
Achillion
Consideration
Upfront payment to shareholders and option holders	$ 926.2
Upfront payment, fair value of equity compensation attributable to the post-combination service period	(20.0)			(25.7)
Upfront cash paid, net	906.2
Contingent consideration	160.7	$ 190.1		$ 190.1
Contingent consideration, fair value of equity compensation attributable to the post-combination service period	(5.7)
Total consideration	1,061.2
Assets Acquired and Liabilities Assumed
Cash and cash equivalents	68.5
Marketable securities	106.1
Goodwill	37.8
Deferred tax liabilities, net	(62.9)
Other assets and liabilities, net	(6.3)
Total net assets acquired	1,061.2
In-process research & development assets (IPR&D) \| Achillion
Assets Acquired and Liabilities Assumed
In-process research & development assets (IPR&D)	918.0
Deferred tax liabilities, net	$ (205.3)

Acquisitions (Pro Forma Information) (Details) - Achillion - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Pro forma revenue	$ 1,444.6	$ 1,203.3	$ 2,889.4	$ 2,343.7
Pro forma net (loss) income	$ (1,068.1)	$ 440.3	$ (493.2)	$ 956.0

Acquisitions (Acquisition-Related Costs) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jan. 28, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Transaction costs		$ 4.2	$ 0.0	$ 5.6	$ 0.0
Integration costs		0.9	0.0	1.0	0.0
Fair value of equity compensation attributable to the post-combination service period		0.0	0.0	25.7	0.0
Restructuring-related costs (2)		(0.5)	0.0	10.4	0.0
Acquisition-related costs		4.6	$ 0.0	42.7	$ 0.0
Achillion
Business Acquisition [Line Items]
Fair value of equity compensation attributable to the post-combination service period	$ 20.0			25.7
Acquisition-related costs		(0.1)		38.0
Portola Pharmaceuticals, Inc.
Business Acquisition [Line Items]
Acquisition-related costs		$ 4.7		$ 4.7

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Inventory [Line Items]
Raw materials	$ 73.9	$ 41.2
Work-in-process	81.3	180.8
Finished goods	422.5	405.6
Inventory, Net	577.7	627.6
Pre Approval Inventory
Inventory [Line Items]
Inventory, Net	$ 76.9	$ 60.5

Intangible Assets and Goodwill (Schedule of Intangible Assets and Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jan. 28, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Cost	$ 5,685.4	$ 5,685.4		$ 4,778.4
Intangible Assets, Accumulated Amortization	(3,625.7)	(3,625.7)		(1,434.1)
Intangible assets	2,059.7	2,059.7		3,344.3
Goodwill, Gross	5,078.1	5,078.1		5,040.3
Goodwill, Accumulated Amortization	(2.9)	(2.9)		(2.9)
Goodwill	5,075.2	5,075.2		5,037.4
Licensing rights
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	57.0	57.0		57.0
Finite-Lived Intangible Assets, Accumulated Amortization	(36.5)	(36.5)		(34.7)
Net	20.5	$ 20.5		22.3
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		7 years
Finite-Lived Intangible Assets, Gross	10.5	$ 10.5		10.5
Finite-Lived Intangible Assets, Accumulated Amortization	(10.5)	(10.5)		(10.5)
Net	0.0	0.0		0.0
Purchased technology
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	4,710.5	4,710.5		4,710.5
Finite-Lived Intangible Assets, Accumulated Amortization	(3,578.4)	(3,578.4)		(1,388.7)
Net	1,132.1	$ 1,132.1		3,321.8
Impairment	2,042.3
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		5 years
Finite-Lived Intangible Assets, Gross	0.4	$ 0.4		0.4
Finite-Lived Intangible Assets, Accumulated Amortization	(0.3)	(0.3)		(0.2)
Net	0.1	0.1		0.2
KANUMA
Finite-Lived Intangible Assets [Line Items]
Net	820.0	$ 820.0
Minimum \| Licensing rights
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		3 years
Minimum \| Purchased technology
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		6 years
Maximum \| Licensing rights
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		8 years
Maximum \| Purchased technology
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		16 years
Achillion
Finite-Lived Intangible Assets [Line Items]
Goodwill			$ 37.8
In-process research & development assets (IPR&D)
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets, Gross (Excluding Goodwill)	907.0	$ 907.0		0.0
Indefinite-lived Intangible Assets (Excluding Goodwill)	907.0	$ 907.0		$ 0.0
Impairment	$ 11.0

Intangible Assets and Goodwill (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 28, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of purchased intangible assets	$ 74.6	$ 81.2	$ 149.3	$ 161.7
2020 (remainder)	56.5		56.5
2021	113.0		113.0
2022	113.0		113.0
2023	113.0		113.0
2024	113.0		113.0
2025	113.0		113.0
Goodwill [Line Items]
Goodwill	$ 5,075.2		$ 5,075.2			$ 5,037.4
KANUMA
Goodwill [Line Items]
Weighted average cost of capital	10.00%		10.00%
Net	$ 820.0		$ 820.0
In-process research & development assets (IPR&D)
Goodwill [Line Items]
Impairment	$ 11.0
Achillion
Goodwill [Line Items]
Goodwill					$ 37.8

Intangible Assets and Goodwill (Changes in Goodwill) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jan. 28, 2020
Goodwill [Roll Forward]
Balance at December 31, 2019		$ 5,037.4
Balance at June 30, 2020	$ 5,075.2
Achillion
Goodwill [Roll Forward]
Balance at December 31, 2019	$ 37.8
Balance at June 30, 2020		$ 37.8

Debt (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Debt (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2019	Jun. 07, 2018
Debt Instrument [Line Items]
Amortization of deferred financing costs	$ 1,200,000	$ 1,300,000	$ 2,400,000	$ 2,500,000
Remaining unamortized deferred financing costs	13,400,000		13,400,000			$ 15,800,000
Credit Agreement
Debt Instrument [Line Items]
Payments of financing costs					$ 53,100,000
Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity							$ 1,000,000,000.0
Letters of credit, amount outstanding	1,000,000.0		1,000,000.0
Credit Agreement \| Senior Secured Term Loan \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, principal amount							$ 2,612,500,000
Debt Instrument, quarterly payment as a percent of total borrowings							5.00%
Debt Instrument, Periodic Payment	(32,700,000)		(65,300,000)
Outstanding debt	$ 2,449,200,000		$ 2,449,200,000

Earnings Per Common Share (Summary Of Calculation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Common Share [Abstract]
Net (loss) income used for basic and diluted calculation	$ (1,068.1)	$ 459.8	$ (510.5)	$ 1,047.7
Shares used in computing earnings per common share—basic	220.6	224.2	221.1	224.0
Stock awards	0.0	1.4	0.0	1.7
Shares used in computing earnings per common share-diluted	220.6	225.6	221.1	225.7
Earnings (loss) Per Share, Basic	$ (4.84)	$ 2.05	$ (2.31)	$ 4.68
Earnings (loss) Per Share, Diluted	$ (4.84)	$ 2.04	$ (2.31)	$ 4.64

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Earnings Per Common Share (Narrative) (Details) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.9	2.9

Marketable Securities (Proceeds from Sale) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Proceeds from maturities and sales	$ 204.5	$ 798.6	$ 1,016.9	$ 1,626.3
Realized gains	0.0	0.0	0.0	0.0
Realized losses	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Marketable Securities (Available-for-sale Investments by Classification in Balance Sheet) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 0.0	$ 369.0
Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Fair Value	0.0	328.1
Marketable securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 0.0	40.9
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		246.9
Gross Unrealized Holding Gains		0.0
Gross Unrealized Holding Losses		0.0
Fair Value		246.9
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		24.3
Gross Unrealized Holding Gains		0.0
Gross Unrealized Holding Losses		0.0
Fair Value		24.3
U.S.
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		70.4
Gross Unrealized Holding Gains		0.0
Gross Unrealized Holding Losses		0.0
Fair Value		70.4
Bank certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		27.4
Gross Unrealized Holding Gains		0.0
Gross Unrealized Holding Losses		0.0
Fair Value		27.4
Total available-for-sale debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		369.0
Gross Unrealized Holding Gains		0.0
Gross Unrealized Holding Losses		0.0
Fair Value		$ 369.0

Marketable Securities (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value		$ 21.5
Trading securities. fair value	$ 26.8	$ 23.1

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative [Line Items]
Total revenues	$ 1,444.6	$ 1,203.3	$ 2,889.4	$ 2,343.7
Interest expense	$ (23.6)	(18.3)	(49.4)	(38.2)
Designated as Hedging Instrument
Derivative [Line Items]
Foreign Exchange Forward Contracts Term	60 months
Not Designated as Hedging Instrument
Derivative [Line Items]
Foreign Exchange Forward Contracts Term	7 months
Gain reclassified from AOCI to net product sales, net of tax	$ (3.2)	(5.8)	13.0	(2.6)
Foreign exchange forward contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount of derivative instruments	802.1		802.1
Foreign exchange forward contracts \| Designated as Hedging Instrument \| Revenue
Derivative [Line Items]
Estimated gains (losses) to be reclassified from other comprehenisve income in next 12 months	11.3
Foreign exchange forward contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount of derivative instruments	1,936.4		1,936.4
Foreign Exchange Forward, Open Expense \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount of derivative instruments	11.3		11.3
Interest Rate Swap Two \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount of derivative instruments	$ 450.0		$ 450.0
Interest Rate Swap Two \| Designated as Hedging Instrument \| Minimum
Derivative [Line Items]
Fixed interest borrowing spreads	0.026%		0.026%
Interest Rate Swap Two \| Designated as Hedging Instrument \| Maximum
Derivative [Line Items]
Fixed interest borrowing spreads	0.0279%		0.0279%
Interest rate contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Estimated gains (losses) to be reclassified from other comprehenisve income in next 12 months	$ (45.5)
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains (Losses) from Hedging Activities
Derivative [Line Items]
Total revenues	9.5	9.1	$ 20.9	16.1
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains (Losses) from Hedging Activities \| Foreign exchange forward contracts
Derivative [Line Items]
Total revenues	9.5	9.1	20.9	16.1
Interest expense	0.0	0.0	0.0	0.0
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains (Losses) from Hedging Activities \| Interest rate contracts
Derivative [Line Items]
Total revenues	0.0	0.0	0.0	0.0
Interest expense	(10.0)	4.5	(14.6)	9.1
Net Product Sales
Derivative [Line Items]
Total revenues	$ 1,444.5	$ 1,202.5	$ 2,889.1	$ 2,342.7

Derivative Instruments and Hedging Activities (Schedule of Interest Rate Contracts) (Details) - Designated as Hedging Instrument - Interest Rate Swap $ in Millions	Jun. 30, 2020 USD ($)
Derivative [Line Items]
Derivative, notional amount	$ 450.0
Derivative, notional amount	$ 1,300.0
Minimum
Derivative [Line Items]
Derivative, fixed interest rate	0.026%
Minimum
Derivative [Line Items]
Derivative, fixed interest rate	0.0237%
Maximum
Derivative [Line Items]
Derivative, fixed interest rate	0.0279%
Maximum
Derivative [Line Items]
Derivative, fixed interest rate	0.0283%

Derivative Instruments and Hedging Activities (Schedule Of Other Comprehensive Income And Earnings From Foreign Exchange Contracts) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Total revenues	$ 1,444.6	$ 1,203.3	$ 2,889.4	$ 2,343.7
Interest expense	(23.6)	(18.3)	(49.4)	(38.2)
Foreign exchange forward contracts \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in AOCI, net of tax	(6.1)	(3.9)	19.9	10.3
Foreign exchange forward contracts \| Sales \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	7.4	7.0	16.2	12.4
Interest rate contracts \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in AOCI, net of tax	(5.4)	(24.6)	(52.7)	(38.8)
Interest rate contracts \| Interest Expense \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(7.7)	3.4	(11.3)	7.0
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains (Losses) from Hedging Activities
Derivative Instruments, Gain (Loss) [Line Items]
Total revenues	9.5	9.1	20.9	16.1
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains (Losses) from Hedging Activities \| Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total revenues	9.5	9.1	20.9	16.1
Interest expense	0.0	0.0	0.0	0.0
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains (Losses) from Hedging Activities \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total revenues	0.0	0.0	0.0	0.0
Interest expense	$ (10.0)	$ 4.5	$ (14.6)	$ 9.1

Derivative Instruments and Hedging Activities (Schedule Of Fair Value Of Outstanding Derivatives) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Interest rate contracts \| Other current liabilities \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value	$ 45.5	$ 19.5
Interest rate contracts \| Other assets \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value		0.0
Interest rate contracts \| Other liabilities \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value	69.6	41.9
Interest rate contracts \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value		0.0
Foreign exchange forward contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	43.5	30.5
Liability Derivatives, Fair Value	139.7	89.1
Foreign exchange forward contracts \| Other current liabilities \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value	3.6	6.2
Foreign exchange forward contracts \| Other assets \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	0.0	0.6
Foreign exchange forward contracts \| Other liabilities \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value	0.4	1.1
Foreign exchange forward contracts \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	14.6	12.7
Foreign exchange forward contracts \| Other current liabilities \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value	20.6	20.4
Foreign exchange forward contracts \| Prepaid expenses and other current assets \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	28.9	$ 17.2
Interest rate contracts \| Level 2 \| Other assets
Derivatives, Fair Value [Line Items]
Interest Rate Derivative Assets, at Fair Value	0.0
Interest rate contracts \| Level 2 \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Interest Rate Derivative Assets, at Fair Value	$ 0.0

Derivative Instruments and Hedging Activities (Offsetting Assets and Liabilities) (Details) - Foreign exchange forward contracts - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Derivative Asset, Fair Value, Amount Offset Against Collateral [Abstract]
Gross Amounts of Recognized Assets	$ 43.5	$ 30.5
Gross Amounts Offset in the Condensed Consolidated Balance Sheet	0.0	0.0
Amounts of Assets Presented in the Condensed Consolidated Balance Sheet	43.5	30.5
Derivative Financial Instruments	(23.3)	(21.4)
Cash Collateral Received	0.0	0.0
Net Amount	20.2	9.1
Derivative Liability, Fair Value, Amount Offset Against Collateral [Abstract]
Gross Amounts of Recognized Liabilities	(139.7)	(89.1)
Gross Amounts Offset in the Condensed Consolidated Balance Sheet	0.0	0.0
Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheet	(139.7)	(89.1)
Derivative Financial Instruments	23.3	21.4
Cash Collateral Pledged	0.0	0.0
Net Amount	$ (116.4)	$ (67.7)

Other Investments (Details) - USD ($) $ in Millions		1 Months Ended							3 Months Ended			6 Months Ended		12 Months Ended
Other Investments (Details) - USD ($) $ in Millions	Dec. 09, 2019	Apr. 30, 2020	Mar. 31, 2020	Oct. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Jan. 31, 2019	Oct. 31, 2018	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Other Investments												$ 38.1	$ 43.8
Other income and (expense)									$ 0.2		$ 0.1	(0.7)	2.5
Unrealized gain on strategic equity investments												(25.8)	(8.6)
Zealand
Schedule of Equity Method Investments [Line Items]
Unrealized gain on strategic equity investments									0.8		(2.9)	1.0	(3.6)
Equity Securities, FV-NI									27.5	$ 28.5		27.5		$ 28.5
Payments to Acquire Equity Method Investments						$ 13.8
Moderna LLC
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Other Investments															$ 37.5
Unrealized gain on strategic equity investments											29.0		(0.8)
Proceeds from Sale of Equity Method Investments	$ 114.7
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 77.2
Dicerna
Schedule of Equity Method Investments [Line Items]
Unrealized gain on strategic equity investments									(5.9)		(0.9)	(2.8)	(4.2)
Equity Securities, FV-NI									21.2	18.4		21.2		18.4
Payments to Acquire Equity Method Investments								$ 10.3
Caelum
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Other Investments							$ 41.0					41.0		64.0
Option To Acquire Remaining Equity, Amount							$ 16.1
Other income and (expense)										32.0
Eidos
Schedule of Equity Method Investments [Line Items]
Unrealized gain on strategic equity investments									(0.6)			3.1
Equity Securities, FV-NI									24.7	27.8		24.7		27.8
Payments to Acquire Equity Method Investments					$ 19.9
Stealth
Schedule of Equity Method Investments [Line Items]
Unrealized gain on strategic equity investments									(0.9)			1.9
Equity Securities, FV-NI									2.5	4.4		2.5		$ 4.4
Payments to Acquire Equity Method Investments				$ 9.6
Common Stock
Schedule of Equity Method Investments [Line Items]
Equity Securities, FV-NI									47.7			47.7
Portola Pharmaceuticals
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Other Investments		$ 3.6	$ 14.5
Unrealized gain on strategic equity investments									(29.0)			(29.6)
Collaborative Arrangement \| Caelum
Schedule of Equity Method Investments [Line Items]
Collaboration Agreement, Potential Future Payments										20.0
Research and development									$ 0.1		$ 0.3	$ 2.4	$ 0.3
Collaborative Agreement, Amendment \| Caelum
Schedule of Equity Method Investments [Line Items]
Research and development										$ 4.1

Stockholders' Equity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jul. 28, 2020	Oct. 22, 2019	Feb. 28, 2017
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired	2.3	0.3	3.6	0.4
Treasury Stock, Value, Acquired, Cost Method	$ 253.7	$ 37.6	$ 360.8	$ 48.9
Common Stock
Class of Stock [Line Items]
Repurchase authorization amount						$ 1,000.0	$ 1,000.0
Subsequent Event
Class of Stock [Line Items]
Repurchase authorization amount					$ 1,500.0
Subsequent Event \| Common Stock
Class of Stock [Line Items]
Remaining authorized repurchase amount					$ 2,174.7

Other Comprehensive Income and Accumulated Other Comprehensive Income (Changes in AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			$ (66.8)	$ (9.7)
Other comprehensive income (loss) before reclassifications			(39.2)	(28.8)
Amounts reclassified from other comprehensive income			(4.9)	(19.4)
Other comprehensive loss, net of tax	$ (9.4)	$ (37.4)	(44.1)	(48.2)
Ending Balance	(110.9)	(57.9)	(110.9)	(57.9)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			(9.2)	(2.6)
Other comprehensive income (loss) before reclassifications			0.0	0.0
Amounts reclassified from other comprehensive income			0.0	0.0
Other comprehensive loss, net of tax			0.0	0.0
Ending Balance	(9.2)	(2.6)	(9.2)	(2.6)
Unrealized Gains (Losses) from Debt Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			(0.1)	(0.3)
Other comprehensive income (loss) before reclassifications			0.1	0.2
Amounts reclassified from other comprehensive income			0.0	0.0
Other comprehensive loss, net of tax			0.1	0.2
Ending Balance	0.0	(0.1)	0.0	(0.1)
Unrealized Gains (Losses) from Hedging Activities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			(40.1)	9.6
Other comprehensive income (loss) before reclassifications			(32.8)	(28.5)
Amounts reclassified from other comprehensive income			(4.9)	(19.4)
Other comprehensive loss, net of tax			(37.7)	(47.9)
Ending Balance	(77.8)	(38.3)	(77.8)	(38.3)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			(17.4)	(16.4)
Other comprehensive income (loss) before reclassifications			(6.5)	(0.5)
Amounts reclassified from other comprehensive income			0.0	0.0
Other comprehensive loss, net of tax			(6.5)	(0.5)
Ending Balance	$ (23.9)	$ (16.9)	$ (23.9)	$ (16.9)

Other Comprehensive Income and Accumulated Other Comprehensive Income (Significant Reclassifications from AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total revenues	$ 1,444.6	$ 1,203.3	$ 2,889.4	$ 2,343.7
Other income (expense)			(3.3)	4.1
(Loss) income before income taxes	(1,352.1)	499.5	(688.5)	1,041.3
Income tax provision	284.0	(39.7)	178.0	6.4
Net (loss) income	(1,068.1)	459.8	(510.5)	1,047.7
Unrealized Gains (Losses) from Hedging Activities \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total revenues	9.5	9.1	20.9	16.1
Other income (expense)	(10.0)	4.5	(14.6)	9.1
(Loss) income before income taxes	(0.5)	13.6	6.3	25.2
Income tax provision	0.2	(3.2)	(1.4)	(5.8)
Net (loss) income	$ (0.3)	$ 10.4	$ 4.9	$ 19.4

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Fair Value Measurement (Schedule Of Acquisition-Related Contingent Consideration) (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Jan. 28, 2020	Jun. 30, 2020	Jun. 30, 2020
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Weighted Average Cost of Capital			11.50%
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low		$ 0.0	$ 0.0
Business Combination, Contingent Consideration, Arrangements, Range of Outcomes, Value, High		908.3	908.3
Business Combination, Contingent Consideration, Liability		374.7	374.7
Acquisition-Related Contingent Consideration [Roll Forward]
Asset Acquisition, Contingent Consideration, Milestone Payments		160.7
Acquisition-related contingent consideration \| Level 3
Acquisition-Related Contingent Consideration [Roll Forward]
Balance at beginning of period			192.4
Change in fair value		21.6
Balance at end of period		$ 374.7	$ 374.7
Acquisition-related contingent consideration \| Minimum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Cost of Debt	2.10%		0.40%
Fair Value Inputs, Weighted Average Cost of Capital			9.00%
Acquisition-related contingent consideration \| Maximum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Cost of Debt	2.30%		0.70%

Fair Value Measurement (Narrative) (Details) - Caelum - Collaborative Arrangement - USD ($) $ in Millions	1 Months Ended			3 Months Ended			6 Months Ended
	Apr. 30, 2020	Dec. 31, 2019	Jan. 31, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Collaboration Agreement, Upfront Payment			$ 30.0
Collaboration Agreement, Potential Future Payments, Milestone Achievement			$ 30.0	$ 15.0
Derivative Liability		$ 27.1		11.4	$ 27.1		$ 11.4
Derivative Fair Value, Discounted Cost Of Debt							2.10%
Collaboration Agreement, Potential Future Payments					$ 20.0
Collaboration Agreement, Payment For Additional Equity Interest		$ 60.0
Collaboration Agreement, Milestone Payment	$ 15.0
Research and development				$ 0.1		$ 0.3	$ 2.4	$ 0.3
Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Derivative Fair Value, Discounted Cost Of Debt			3.30%
Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Derivative Fair Value, Discounted Cost Of Debt			3.50%

Revenue Recognition (Disaggregation of Revenue by Product and Geographical Region) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	$ 1,444.6	$ 1,203.3	$ 2,889.4	$ 2,343.7
SOLIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	975.5	980.8	1,998.4	1,942.8
ULTOMIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	251.1	54.2	473.9	78.8
STRENSIQ
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	184.3	141.3	356.5	271.4
KANUMA
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	33.6	26.2	60.3	49.7
United States \| SOLIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	553.3	496.3	1,109.5	960.0
United States \| ULTOMIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	158.1	54.2	289.6	78.8
United States \| STRENSIQ
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	140.7	106.2	268.8	205.7
United States \| KANUMA
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	15.4	15.3	31.8	29.1
Europe \| SOLIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	247.9	280.2	511.4	544.7
Europe \| ULTOMIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	32.0	0.0	65.8	0.0
Europe \| STRENSIQ
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	18.3	19.5	42.3	37.0
Europe \| KANUMA
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	8.4	6.8	15.9	13.1
Asia Pacific \| SOLIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	82.4	110.3	169.5	211.2
Asia Pacific \| ULTOMIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	59.6	0.0	116.7	0.0
Asia Pacific \| STRENSIQ
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	15.0	12.1	28.6	22.0
Asia Pacific \| KANUMA
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	0.9	1.3	1.8	2.1
Rest of World \| SOLIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	91.9	94.0	208.0	226.9
Rest of World \| ULTOMIRIS
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	1.4	0.0	1.8	0.0
Rest of World \| STRENSIQ
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	10.3	3.5	16.8	6.7
Rest of World \| KANUMA
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	8.9	2.8	10.8	5.4
Product
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total Net Product Sales	$ 1,444.5	$ 1,202.5	$ 2,889.1	$ 2,342.7

Revenue Recognition (Summary of Receivables and Contract Liabilities from Contracts) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Receivables, which are included in Trade accounts receivable, net	$ 1,372.2	$ 1,243.2
Contract liabilities, which are included in Other current liabilities	$ 24.7	$ 6.8

Income Taxes (Schedule of Income Tax Provision and Effective Tax Rate) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ (284.0)	$ 39.7	$ (178.0)	$ (6.4)
Effective tax rate	21.00%	7.90%	25.90%	(0.60%)

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Effective Income Tax Rate Reconciliation, Intangible Asset Impairment, Percent			11.10%
Effective Income Tax Rate Reconciliation, Deduction, Percent				12.10%
Purchased technology
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Impairment	$ 2,042.3
Intangible Asset Impairment
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Deferred Income Tax Expense (Benefit)	$ (377.3)
Intellectual Property Election
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Deferred Income Tax Expense (Benefit)		$ (95.7)
Valuation Allowance Release
Schedule Of Asset Acquisition, By Acquisition [Line Items]
Deferred Income Tax Expense (Benefit)		$ (30.3)

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions		1 Months Ended								3 Months Ended							6 Months Ended
	Jul. 02, 2020	Apr. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Apr. 30, 2019	Mar. 31, 2019	Jan. 31, 2019	Nov. 30, 2018	Oct. 31, 2018	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2020	Jun. 30, 2019	Jul. 30, 2020
Other Commitments [Line Items]
Asset Acquisition, Contingent Consideration, Milestone Payments										$ 160.7
Research and development										221.1			$ 187.6				$ 422.0	$ 383.5
Lonza Group AG
Other Commitments [Line Items]
Remaining total commitments										1,069.6							1,069.6
Unrecorded Unconditional Purchase Obligation, Undiscounted Fixed Payment Amount										105.5							105.5
Other Third Party Manufacturers
Other Commitments [Line Items]
Remaining total commitments										63.1							63.1
Collaborative Arrangement \| Caelum
Other Commitments [Line Items]
Collaboration Agreement, Upfront Payment							$ 30.0
Research and development										0.1			$ 0.3				2.4	$ 0.3
Collaboration Agreement, Potential Future Payments, Milestone Achievement							30.0			15.0
Derivative Liability			$ 27.1							11.4	$ 27.1						11.4
Collaboration Agreement, Acquisition Option, Maximum Potential Future Payment							500.0
Collaboration Agreement, Milestone Payment		$ 15.0
Collaboration Agreement, Potential Future Payments											20.0
Collaboration Agreement, Payment For Additional Equity Interest			$ 60.0
Zealand \| Zealand
Other Commitments [Line Items]
Payments To Acquire Licenses And Equity Investment						$ 40.0
Prepaid Research And Development Expense						5.0								$ 5.0
Research and development														$ 21.2
Collaboration Agreement, Potential Future Payments, Milestone Achievement																	610.0
Collaboration Agreement, Potential Future Payments, Additional Milestone Achievement																	115.0
Collaboration Agreement, Potential Future Payments, Option Fee																	15.0
Affibody AB \| Affibody
Other Commitments [Line Items]
Payments To Acquire Licenses And Equity Investment						25.0
Affibody AB \| Eidos
Other Commitments [Line Items]
Payments To Acquire Licenses And Equity Investment				$ 50.0
Research and development												$ 30.1
Collaboration Agreement, Potential Future Payments, Milestone Achievement																	30.0
Collaboration and License Agreement
Other Commitments [Line Items]
Collaboration Agreement, Potential Future Payments, Milestone Achievement																	42.5
Dicerna Pharmaceutical Collaboration Agreement \| Dicerna
Other Commitments [Line Items]
Payments To Acquire Licenses And Equity Investment									$ 37.0
Research and development											$ 20.0				$ 26.7
Research and Development Arrangement, Potential Payment, Maximum										606.6							606.6
License Agreement 1 \| Halozyme Therapeutics, Inc
Other Commitments [Line Items]
Research and Development Arrangement, Potential Payment, Maximum										155.0							155.0
Research and development																$ 40.0
Research and Development Agreement, Option Fee										8.0							8.0
Research and Development Arrangement, Potential Contingent Payment, Maximum										160.0							160.0
Eidos
Other Commitments [Line Items]
Payments to Acquire Equity Method Investments				$ 19.9
Caelum \| Collaborative Arrangement
Other Commitments [Line Items]
Equity Method Investment, Aggregate Cost							$ 57.1
Zealand
Other Commitments [Line Items]
Payments to Acquire Equity Method Investments						$ 13.8
Dicerna
Other Commitments [Line Items]
Payments to Acquire Equity Method Investments									$ 10.3
DOJ And OIG
Other Commitments [Line Items]
Loss Contingency Accrual, Payments					$ 13.1
Canadian Patented Medicine Prices Review Board
Other Commitments [Line Items]
Loss Contingency, Estimate of Possible Loss										$ 36.8							$ 36.8
Syntimmune, Inc
Other Commitments [Line Items]
Asset Acquisition, Contingent Consideration, Milestone Payments								$ 800.0
Syntimmune, Inc \| Subcutaneous Formulation [Member]
Other Commitments [Line Items]
Asset Acquisition, Contingent Consideration, Milestone Payments								$ 130.0
Subsequent Event \| SEC
Other Commitments [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 21.5
Subsequent Event \| Canadian Patented Medicine Prices Review Board
Other Commitments [Line Items]
Escrow Deposit																			$ 54.5

Fair Value Measurement (Schedule Of Assets And Liabilites Measured At Fair Value) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	$ 374.7
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities
Foreign exchange forward contracts \| Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, liability	24.2	$ 26.6
Foreign exchange forward contracts \| Other current liabilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, liability	0.0	0.0
Foreign exchange forward contracts \| Other current liabilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, liability	24.2	26.6
Foreign exchange forward contracts \| Other current liabilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, liability	0.0	0.0
Foreign exchange forward contracts \| Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, liability	0.4	1.1
Foreign exchange forward contracts \| Other liabilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, liability	0.0	0.0
Foreign exchange forward contracts \| Other liabilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, liability	0.4	1.1
Foreign exchange forward contracts \| Other liabilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, liability	0.0	0.0
Acquisition-related contingent consideration \| Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability		24.0
Acquisition-related contingent consideration \| Other current liabilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability		0.0
Acquisition-related contingent consideration \| Other current liabilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability		0.0
Acquisition-related contingent consideration \| Other current liabilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability		24.0
Acquisition-related contingent consideration \| Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	374.7	192.4
Acquisition-related contingent consideration \| Contingent consideration \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	0.0	0.0
Acquisition-related contingent consideration \| Contingent consideration \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	0.0	0.0
Acquisition-related contingent consideration \| Contingent consideration \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	374.7	192.4
Other contingent payments \| Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	11.4
Other contingent payments \| Other current liabilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	0.0
Other contingent payments \| Other current liabilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	0.0
Other contingent payments \| Other current liabilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	11.4
Interest rate contracts \| Prepaid expenses and other current assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Assets, at Fair Value	0.0
Interest rate contracts \| Other assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Assets, at Fair Value	0.0
Interest rate contracts \| Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Liabilities, at Fair Value	45.5	19.5
Interest rate contracts \| Other current liabilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Assets, at Fair Value		0.0
Interest Rate Derivative Liabilities, at Fair Value	0.0
Interest rate contracts \| Other current liabilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Liabilities, at Fair Value	45.5	19.5
Interest rate contracts \| Other current liabilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Assets, at Fair Value		0.0
Interest Rate Derivative Liabilities, at Fair Value	0.0
Interest rate contracts \| Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Assets, at Fair Value	69.6	41.9
Interest rate contracts \| Other liabilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Assets, at Fair Value	0.0	0.0
Interest rate contracts \| Other liabilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Assets, at Fair Value	69.6	41.9
Interest rate contracts \| Other liabilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivative Assets, at Fair Value	0.0	0.0
Money market funds \| Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,212.8	635.9
Money market funds \| Cash equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Money market funds \| Cash equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,212.8	635.9
Money market funds \| Cash equivalents \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Mutual funds \| Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	26.8	23.1
Mutual funds \| Marketable securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	26.8	23.1
Mutual funds \| Marketable securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0.0	0.0
Mutual funds \| Marketable securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0.0	0.0
Commercial paper \| Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		227.9
Commercial paper \| Cash equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0.0
Commercial paper \| Cash equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		227.9
Commercial paper \| Cash equivalents \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0.0
Commercial paper \| Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		19.0
Commercial paper \| Marketable securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0.0
Commercial paper \| Marketable securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		19.0
Commercial paper \| Marketable securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0.0
Corporate bonds \| Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		20.6
Corporate bonds \| Cash equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0.0
Corporate bonds \| Cash equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		20.6
Corporate bonds \| Cash equivalents \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0.0
Corporate bonds \| Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		3.7
Corporate bonds \| Marketable securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0.0
Corporate bonds \| Marketable securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		3.7
Corporate bonds \| Marketable securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0.0
Other government-related obligations \| Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		60.4
Other government-related obligations \| Cash equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0.0
Other government-related obligations \| Cash equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		60.4
Other government-related obligations \| Cash equivalents \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0.0
Other government-related obligations \| Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		10.0
Other government-related obligations \| Marketable securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0.0
Other government-related obligations \| Marketable securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		10.0
Other government-related obligations \| Marketable securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0.0
Bank certificates of deposit \| Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		19.2
Bank certificates of deposit \| Cash equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0.0
Bank certificates of deposit \| Cash equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		19.2
Bank certificates of deposit \| Cash equivalents \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0.0
Bank certificates of deposit \| Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		8.2
Bank certificates of deposit \| Marketable securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0.0
Bank certificates of deposit \| Marketable securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		8.2
Bank certificates of deposit \| Marketable securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0.0
Foreign exchange forward contracts \| Prepaid expenses and other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, asset	43.5	29.9
Foreign exchange forward contracts \| Prepaid expenses and other current assets \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, asset	0.0	0.0
Foreign exchange forward contracts \| Prepaid expenses and other current assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, asset	43.5	29.9
Foreign exchange forward contracts \| Prepaid expenses and other current assets \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, asset	0.0	0.0
Foreign exchange forward contracts \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, asset		0.6
Foreign exchange forward contracts \| Other assets \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, asset		0.0
Foreign exchange forward contracts \| Other assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, asset		0.6
Foreign exchange forward contracts \| Other assets \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts, asset		0.0
Equity securities \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	123.6	79.0
Equity securities \| Other assets \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	98.9	51.2
Equity securities \| Other assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	24.7	27.8
Equity securities \| Other assets \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 0.0	$ 0.0