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Share-based Payments
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
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 September 30,For the Nine Months Ended September 30,
(In millions)2020201920202019
Research and development $14.6 $15.4 $63.1 $65.2 
Selling, general and administrative25.0 34.2 98.4 116.8 
Subtotal39.6 49.6 161.5 182.0 
Capitalized share-based compensation costs (1.9)(1.7)(4.9)(7.8)
Share-based compensation expense included in total cost and expenses37.7 47.9 156.6 174.2 
Income tax effect(5.4)(8.1)(25.7)(29.1)
Share-based compensation expense included in net income attributable to Biogen Inc.$32.3 $39.8 $130.9 $145.1 
The following table summarizes share-based compensation expense associated with each of our share-based compensation programs:
For the Three Months Ended September 30,For the Nine Months Ended September 30,
(In millions)2020201920202019
Market stock units$5.5 $9.3 $32.0 $24.8 
Time-vested restricted stock units35.3 37.9 107.3 104.4 
Cash settled performance units— 0.3 (1.7)(0.3)
Performance units— 0.2 (0.1)1.0 
Performance stock units settled in stock(8.4)(1.1)4.0 13.0 
Performance stock units settled in cash4.1 1.3 9.0 3.2 
Employee stock purchase plan3.1 1.7 11.0 9.7 
NST stock options— — — 26.2 
Subtotal39.6 49.6 161.5 182.0 
Capitalized share-based compensation costs(1.9)(1.7)(4.9)(7.8)
Share-based compensation expense included in total cost and expenses$37.7 $47.9 $156.6 $174.2 
We estimate the fair value of our obligations associated with our performance 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.