Share Tracking Awards Plans (Tables) - Share tracking award plans (STAP)

9 Months Ended

Sep. 30, 2016

Awards granted under the STAP

Schedule of assumptions used to measure the fair value of STAP awards

	September 30, 2016		September 30, 2015
Expected volatility	35.5	%	34.5	%
Risk-free interest rate	0.9	%	1.2	%
Expected term of awards (in years)	2.8		4.1
Expected forfeiture rate	10.2	%	9.6	%
Expected dividend yield	0.0	%	0.0	%

Summary of activity and status of STAP awards

	Number of Awards		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2016	6,845,163		$	86.86
Granted	—		—
Exercised	(914,642	)	61.41
Forfeited	(544,507	)	94.00
Outstanding at September 30, 2016	5,386,014		$	90.46	6.7	$	208.2
Exercisable at September 30, 2016	2,797,117		$	86.50	6.2	$	113.5
Expected to vest as of September 30, 2016	2,316,622		$	94.33	7.2	$	85.4

Schedule of share-based compensation expense (benefit) recognized in connection with the STAP

Share-based compensation expense (benefit) recognized in connection with STAP awards is as follows (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Cost of product sales	$	3.5		$	(8.1	)	$	(8.7	)	$	2.8
Research and development	8.1			(31.1		)	(31.6		)	57.1
Selling, general and administrative	34.2			(82.4		)	(76.2		)	99.7
Share-based compensation expense (benefit) before taxes	$	45.8		$	(121.6	)	$	(116.5	)	$	159.6
Related income tax (expense) benefit	(17.1		)	45.9			42.6			(60.2		)
Share-based compensation expense (benefit), net of taxes	$	28.7		$	(75.7	)	$	(73.9	)	$	99.4