Inventories

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consist of the following:

	September 30,		December 31,
	2019		2018
Raw materials	$	229.0	$	226.8
Work-in-process	633.5		571.1
Finished goods	49.4		24.4
Deferred costs	432.4		328.9
	$	1,344.3	$	1,151.2

Deferred costs represent the costs of product manufactured and shipped to the Company's collaborators for which recognition of revenue has been deferred. In these instances, the Company is reimbursed for its manufacturing costs as product is shipped to its collaborators; however, recognition of such cost reimbursements as revenue is deferred until the product is sold by the Company's collaborators to third-party customers.