Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020 are as follows:


(In millions)	Developed Markets		Greater China		JANZ		Emerging Markets		Total
Balance at December 31, 2019:
Goodwill	$	8,258.0	$	67.8	$	584.8	$	1,065.0	$	9,975.6
Accumulated impairment losses	(385.0)		—		—		—		(385.0)
	7,873.0		67.8		584.8		1,065.0		9,590.6
Acquisitions	704.3		652.8		217.4		533.0		2,107.5
Foreign currency translation	607.2		17.7		61.8		(37.8)		648.9
	9,184.5		738.3		864.0		1,560.2		12,347.0
Balance at December 31, 2020:
Goodwill	9,569.5		738.3		864.0		1,560.2		12,732.0
Accumulated impairment losses	(385.0)		—		—		—		(385.0)
	9,184.5		738.3		864.0		1,560.2		12,347.0
Measurement period and other adjustments	67.7		220.4		(30.9)		38.4		295.6
Foreign currency translation	(528.8)		10.8		(56.8)		45.9		(528.9)
	8,723.4		969.5		776.3		1,644.5		12,113.7
Balance at December 31, 2021
Goodwill	9,108.4		969.5		776.3		1,644.5		12,498.7
Accumulated impairment losses	(385.0)		—		—		—		(385.0)
	$	8,723.4	$	969.5	$	776.3	$	1,644.5	$	12,113.7

Components of intangible assets

Intangible assets consist of the following components at December 31, 2021 and 2020:


(In millions)	Weighted Average Life (Years)	Cost		Accumulated Amortization		Net Book Value
December 31, 2021
Product rights, licenses and other (1)	15	$	39,006.2	$	12,918.5	$	26,087.7
In-process research and development		46.5		—		46.5
		$	39,052.7	$	12,918.5	$	26,134.2
December 31, 2020
Product rights, licenses and other (1)	15	$	40,404.1	$	10,801.6	$	29,602.5
In-process research and development		80.7		—		80.7
		$	40,484.8	$	10,801.6	$	29,683.2

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(1)Represents amortizable intangible assets. Other intangibles consist principally of customer lists and contractual rights.

Product rights and licenses by therapeutic category

Product rights and licenses are primarily comprised of the products marketed at the time of acquisition. These product rights and licenses relate to numerous individual products, the net book value of which, by product category, is as follows:


(In millions)	Developed Markets		Greater China		JANZ		Emerging Markets		December 31, 2021
Brands	$	10,066.6	$	6,102.9	$	1,174.8	$	3,801.7	$	21,146.0
Complex Gx and Biosimilars	226.8		—		1.5		—		228.3
Generics	4,020.2		12.1		319.5		358.4		4,710.2
Total Product Rights and Licenses	$	14,313.6	$	6,115.0	$	1,495.8	$	4,160.1	$	26,084.5


(In millions)	Developed Markets		Greater China		JANZ		Emerging Markets		December 31, 2020
Brands	$	10,988.1	$	4,372.3	$	2,377.0	$	4,478.7	$	22,216.1
Complex Gx and Biosimilars	272.5		—		2.3		—		274.8
Generics	6,253.9		12.7		423.9		417.3		7,107.8
Total Product Rights and Licenses	$	17,514.5	$	4,385.0	$	2,803.2	$	4,896.0	$	29,598.7

Finite-lived Intangible Assets Amortization Expense [Table Text Block]

Amortization expense and intangible asset impairment charges, which are included as a component of amortization expense, which is classified primarily within cost of sales in the consolidated statements of operations, for the years ended December 31, 2021, 2020 and 2019 was as follows:


	Year ended December 31,
(In millions)	2021		2020		2019
Intangible asset amortization expense	$	2,702.2	$	1,605.8	$	1,582.7
IPR&D intangible asset impairment charges	19.4		37.4		138.3
Finite-lived intangible asset impairment charges	83.4		45.0		42.3
Total intangible asset amortization expense (including impairment charges)	$	2,805.0	$	1,688.2	$	1,763.3

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Intangible asset amortization expense for the years ending December 31, 2022 through 2026 is estimated to be as follows:


(In millions)
2022	$	2,577
2023	2,414
2024	2,320
2025	2,222
2026	2,164