Borrowings and Capital Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Borrowings

	December 31,		December 31,
(In millions)	2016		2015
Short-term borrowings:
Borrowings under the Revolving Credit Facilities Agreement (the “RCF”)	$	450.0	$	750.0
Borrowings under the November 2015 Facilities Agreement	2,594.8		—
Borrowings under the January 2015 Facilities Agreement	—		750.0
Other borrowings and capital lease obligations (short term portion)	23.2		12.7
	3,068.0		1,512.7
Long-term borrowings:
Senior Notes	12,039.2		—
Baxalta Notes	5,063.6		—
Borrowings under the November 2015 Facilities Agreement	2,391.8		—
Capital lease obligations (long term portion)	347.2		12.2
Other borrowings	58.0		69.9
	$	19,899.8	$	82.1
	$	22,967.8	$	1,594.8

Below is a summary of the Baxalta Notes as of December 31, 2016:

(In millions, except %)	Aggregate principal		Coupon rate		Effective interest rate		Carrying amount
Variable-rate notes due 2018	$	375.0	LIBOR plus 0.780%		2.20	%	$	371.6
Fixed-rate notes due 2018	375.0		2.000	%	2.00	%	374.8
Fixed-rate notes due 2020	1,000.0		2.875	%	2.80	%	1,004.3
Fixed-rate notes due 2022	500.0		3.600	%	3.30	%	508.4
Fixed-rate notes due 2025	1,750.0		4.000	%	3.90	%	1,772.8
Fixed-rate notes due 2045	1,000.0		5.250	%	5.10	%	1,031.7
Total Baxalta Notes	$	5,000.0					$	5,063.6

Below is a summary of the SAIIDAC Notes as of December 31, 2016:

(In millions, except %)	Aggregate amount		Coupon rate		Effective interest rate		Carrying amount
Fixed-rate notes due 2019	$	3,300.0	1.900	%	2.05	%	$	3,287.5
Fixed-rate notes due 2021	3,300.0		2.400	%	2.53	%	3,283.0
Fixed-rate notes due 2023	2,500.0		2.875	%	2.97	%	2,487.9
Fixed-rate notes due 2026	3,000.0		3.200	%	3.30	%	2,980.8
	$	12,100.0					$	12,039.2

Summary of debt maturities

The future payments related to short and long term borrowings and capital lease obligations, on maturities, as of December 31, 2016 are as follows:

(In millions)
2017	$	3,072.6
2018	3,217.2
2019	3,341.3
2020	1,035.3
2021	3,320.5
Thereafter	9,116.1
Total obligations	23,103.0
Less: Deferred financing costs	(135.2		)
Total debt obligations	$	22,967.8