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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Revenues $ 2,294.0 $ 1,743.7 $ 6,074.2 $ 4,694.1
Expenses:        
Research and development 684.6 526.0 1,990.5 1,897.6
Selling, general, and administrative 326.9 304.4 1,042.5 890.1
Other operating (income) expense, net (44.6) (50.7) (135.2) (171.1)
Total operating expenses 1,240.9 1,005.2 3,664.6 3,160.0
Income from operations 1,053.1 738.5 2,409.6 1,534.1
Other income (expense):        
Other (expense) income, net (28.5) 37.8 218.3 28.7
Interest expense (26.3) (7.8) (42.1) (23.5)
Total other income (expense) (54.8) 30.0 176.2 5.2
Income before income taxes 998.3 768.5 2,585.8 1,539.3
Income tax expense 156.2 98.9 221.8 215.5
Net income $ 842.1 $ 669.6 $ 2,364.0 $ 1,323.8
Net income per share - basic (in dollars per share) $ 7.98 $ 6.12 $ 21.83 $ 12.12
Net income per share - diluted (in dollars per share) $ 7.39 $ 5.86 $ 20.36 $ 11.54
Weighted average shares outstanding - basic (in shares) 105.5 109.4 108.3 109.2
Weighted average shares outstanding - diluted (in shares) 113.9 114.2 116.1 114.7
Statements of Comprehensive Income        
Net income $ 842.1 $ 669.6 $ 2,364.0 $ 1,323.8
Other comprehensive income (loss), net of tax:        
Unrealized (loss) gain on debt securities (4.9) 1.0 10.9 31.5
Unrealized gain (loss) on cash flow hedges 0.2 (0.3) (1.2) (2.7)
Comprehensive income 837.4 670.3 2,373.7 1,352.6
Product        
Revenues:        
Revenues 1,482.2 1,238.3 3,945.8 3,548.0
Expenses:        
Cost of goods sold 131.0 115.9 312.3 253.8
Collaboration and contract manufacturing        
Expenses:        
Cost of goods sold 143.0 109.6 454.5 289.6
Sanofi | Product and service, other        
Revenues:        
Revenues 353.3 175.0 869.3 232.8
Bayer | Product and service, other        
Revenues:        
Revenues 299.9 293.6 825.5 834.8
Other | Product and service, other        
Revenues:        
Revenues $ 158.6 $ 36.8 $ 433.6 $ 78.5