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

9 Months Ended

Sep. 30, 2017

Awards granted under the STAP

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

	September 30, 2017		September 30, 2016
Expected volatility	32.8	%	35.5	%
Risk-free interest rate	1.4	%	0.9	%
Expected term of awards (in years)	1.9		2.8
Expected dividend yield	0.0	%	0.0	%

Summary of the 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, 2017	5,113,838		$	91.51
Granted	—		—
Exercised	(741,859	)	70.70
Forfeited	(116,418	)	110.40
Outstanding at September 30, 2017	4,255,561		$	94.62	5.8	$	153.1
Exercisable at September 30, 2017	2,553,425		$	96.99	5.7	$	86.6
Unvested as of September 30, 2017	1,702,136		$	91.06	6.1	$	66.5

Schedule of share-based compensation benefit recognized in connection with STAP awards

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Cost of product sales	$	(2.1	)	$	3.5		$	(4.7	)	$	(8.7	)
Research and development	(8.2		)	8.1			(16.9		)	(31.6		)
Selling, general and administrative	(27.7		)	34.2			(55.9		)	(76.2		)
Share-based compensation (benefit) expense before taxes	$	(38.0	)	$	45.8		$	(77.5	)	$	(116.5	)
Related income tax expense (benefit)	13.9			(17.1		)	28.4			42.6
Share-based compensation (benefit) expense, net of taxes	$	(24.1	)	$	28.7		$	(49.1	)	$	(73.9	)