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Other Consolidated Financial Statement Detail (Tables)
9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other income (expense), net
Components of other income (expense), net, are summarized as follows:
For the Three Months Ended September 30,For the Nine Months Ended September 30,
(In millions)2020201920202019
Interest income$6.0 $30.5 $38.0 $90.8 
Interest expense(56.3)(45.8)(166.5)(141.4)
Gain (loss) on investments, net(82.1)(4.1)(52.6)198.9 
Foreign exchange gains (losses), net3.1 (4.2)(5.4)(4.7)
Other, net0.7 (3.7)0.4 (11.0)
Total other income (expense), net$(128.6)$(27.3)$(186.1)$132.6 
Gain (loss) on investments in equity securities
The following table summarizes our gain (loss) on investments, net that relates to our equity securities held as of September 30, 2020 and 2019:
For the Three Months Ended September 30,For the Nine Months Ended September 30,
(In millions)2020201920202019
Net gains (losses) recognized during the period on equity securities$(82.3)$(4.6)$(40.3)$197.3 
Less: Net gains (losses) recognized during the period on equity securities sold during the period— 4.4 — 46.8 
Unrealized gains (losses) recognized during the period on equity securities$(82.3)$(9.0)$(40.3)$150.5 
Accrued expenses and other
Accrued expenses and other consists of the following:
(In millions)As of September 30, 2020As of December 31, 2019
Revenue-related reserves for discounts and allowances$1,043.9 $1,001.1 
Employee compensation and benefits279.0 309.1 
Royalties and licensing fees222.8 220.9 
Collaboration expenses277.9 281.6 
Current portion of contingent consideration obligations164.4 148.4 
Construction in progress23.4 78.0 
Other1,274.8 726.7 
Total accrued expenses and other$3,286.2 $2,765.8