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Share-based Payments
3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based Payments
Share-based Payments
Share-based Compensation Expense
The following table summarizes share-based compensation expense included in our condensed consolidated statements of income:
 
For the Three Months
Ended March 31,
(In millions)
2019
 
2018
Research and development
$
21.7

 
$
21.9

Selling, general and administrative
27.8

 
28.5

Subtotal
49.5

 
50.4

Capitalized share-based compensation costs
(3.3
)
 
(3.4
)
Share-based compensation expense included in total cost and expenses
46.2

 
47.0

Income tax effect
(7.4
)
 
(7.6
)
Share-based compensation expense included in net income attributable to Biogen Inc.
$
38.8

 
$
39.4


The following table summarizes share-based compensation expense associated with each of our share-based compensation programs:
 
For the Three Months
Ended March 31,
(In millions)
2019
 
2018
Market stock units
$
7.7

 
$
6.1

Time-vested restricted stock units
34.7

 
36.1

Cash settled performance units
(1.0
)
 
4.3

Performance units
0.5

 
(0.8
)
Performance stock units settled in stock
2.0

 
0.7

Performance stock units settled in cash
1.0

 
0.1

Employee stock purchase plan
4.6

 
3.9

Subtotal
49.5

 
50.4

Capitalized share-based compensation costs
(3.3
)
 
(3.4
)
Share-based compensation expense included in total cost and expenses
$
46.2

 
$
47.0


We estimate the fair value of our obligations associated with our performance units, cash settled performance units and performance stock units settled in cash at the end of each reporting period through expected settlement. Cumulative adjustments to these obligations are recognized each quarter to reflect changes in the stock price and estimated outcome of the performance-related conditions.