Inventories

6 Months Ended

Jun. 30, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consist of the following:

	June 30,		December 31,
(In millions)	2021		2020
Raw materials	$	601.5	$	459.4
Work-in-process	741.1		904.6
Finished goods	106.3		121.7
Deferred costs	535.0		430.9
	$	1,983.9	$	1,916.6

Deferred costs represent the costs of product manufactured and shipped to the Company's collaborators for which recognition of revenue has been deferred. For the three and six months ended June 30, 2021, Cost of goods sold included inventory write-offs and reserves totaling $139.9 million and $149.3 million, respectively. For the three and six months ended June 30, 2020, such amounts were not material.