Nature of Business and Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Property and Equipment

Property and equipment are recorded at cost, net of accumulated depreciation. Depreciation expense is recorded using the straight-line method over the estimated useful life of the related asset generally as follows:

Description	Estimated Useful Life
Buildings and improvements	15 to 40 years
Laboratory equipment, other equipment and furniture	7 to 10 years
Leasehold improvements; assets under finance leases	The shorter of the useful life of the assets or the estimated remaining term of the associated lease
Computers and software	3 to 5 years

“Property and equipment, net” consisted of the following:

	As of December 31,
	2022		2021
	(in millions)
Buildings and improvements	$	903.1	$	892.5
Laboratory equipment, other equipment and furniture	476.5		407.3
Leasehold improvements	410.9		363.5
Computers and software	312.1		293.7
Land	33.1		33.1
Total property and equipment, gross	2,135.7		1,990.1
Less: accumulated depreciation	(1,027.3)		(896.0)
Total property and equipment, net	$	1,108.4	$	1,094.1