Inventories

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consist of the following:

	June 30,		December 31,
(In millions)	2022		2021
Raw materials	$	831.7	$	721.9
Work-in-process	717.3		707.2
Finished goods	45.6		73.7
Deferred costs	623.9		448.5
	$	2,218.5	$	1,951.3

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, 2022, Cost of goods sold included inventory write-offs and reserves totaling $19.2 million and $66.6 million, respectively. 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.