0000059478-22-000250 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 28, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Entity File Number	001-6351
Entity Registrant Name	ELI LILLY AND COMPANY
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-0470950
Entity Address, Address Line One	Lilly Corporate Center
Entity Address, City or Town	Indianapolis
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46285
City Area Code	317
Local Phone Number	276-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		950,177,900
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000059478
Current Fiscal Year End Date	--12-31
Common Stock (no par value)
Document Information [Line Items]
Title of 12(b) Security	Common Stock (no par value)
Trading Symbol	LLY
Security Exchange Name	NYSE
7 1/8% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	7 1/8% Notes due 2025
Trading Symbol	LLY25
Security Exchange Name	NYSE
1.625% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2026
Trading Symbol	LLY26
Security Exchange Name	NYSE
2.125% Notes due 2030
Document Information [Line Items]
Title of 12(b) Security	2.125% Notes due 2030
Trading Symbol	LLY30
Security Exchange Name	NYSE
0.625% Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	0.625% Notes due 2031
Trading Symbol	LLY31
Security Exchange Name	NYSE
0.500% Notes due 2033
Document Information [Line Items]
Title of 12(b) Security	0.500% Notes due 2033
Trading Symbol	LLY33
Security Exchange Name	NYSE
6.77% Notes due 2036
Document Information [Line Items]
Title of 12(b) Security	6.77% Notes due 2036
Trading Symbol	LLY36
Security Exchange Name	NYSE
1.625% Notes due 2043
Document Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2043
Trading Symbol	LLY43
Security Exchange Name	NYSE
1.700% Notes due 2049
Document Information [Line Items]
Title of 12(b) Security	1.700% Notes due 2049
Trading Symbol	LLY49A
Security Exchange Name	NYSE
1.125% Notes due 2051
Document Information [Line Items]
Title of 12(b) Security	1.125% Notes due 2051
Trading Symbol	LLY51
Security Exchange Name	NYSE
1.375% Notes due 2061
Document Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2061
Trading Symbol	LLY61
Security Exchange Name	NYSE

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue (Note 2)	$ 6,941.6	$ 6,772.8	$ 21,239.6	$ 20,318.5
Costs, expenses, and other:
Cost of sales	1,579.1	1,430.8	5,081.7	5,262.6
Research and development	1,802.9	1,705.3	5,194.9	5,032.4
Marketing, selling, and administrative	1,614.2	1,577.9	4,797.2	4,839.6
Acquired in-process research and development and development milestones (Note 3)	62.4	177.6	668.4	532.4
Asset impairment, restructuring, and other special charges (Note 5)	206.5	0.0	206.5	211.6
Other–net, (income) expense (Note 11)	111.0	635.9	580.9	124.3
Costs, expenses, and other	5,376.1	5,527.5	16,529.6	16,002.9
Income before income taxes	1,565.5	1,245.3	4,710.0	4,315.6
Income taxes (Note 7)	113.8	135.2	402.9	460.0
Net income	$ 1,451.7	$ 1,110.1	$ 4,307.1	$ 3,855.6
Earnings per share:
Basic (in dollars per share)	$ 1.61	$ 1.22	$ 4.78	$ 4.25
Diluted (in dollars per share)	$ 1.61	$ 1.22	$ 4.76	$ 4.23
Shares used in calculation of earnings per share:
Basic (in shares)	900.7	906.7	901.8	907.7
Diluted (in shares)	903.8	910.8	904.5	911.7

Consolidated Condensed Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,451.7	$ 1,110.1	$ 4,307.1	$ 3,855.6
Other comprehensive income (loss), net of tax (Note 10)	(8.1)	114.4	47.3	323.7
Comprehensive income	$ 1,443.6	$ 1,224.5	$ 4,354.4	$ 4,179.3

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents (Note 6)	$ 2,617.4	$ 3,818.5
Short-term investments (Note 6)	124.7	90.1
Accounts receivable, net of allowances of $17.7 (2022) and $22.5 (2021)	6,715.3	6,672.8
Other receivables	1,609.5	1,454.4
Inventories	3,831.1	3,886.0
Prepaid expenses and other	2,741.9	2,530.6
Total current assets	17,639.9	18,452.4
Investments (Note 6)	2,574.6	3,212.6
Goodwill	3,891.6	3,892.0
Other intangibles, net	7,124.1	7,691.9
Deferred tax assets	2,384.3	2,489.3
Property and equipment, net of accumulated depreciation of $10,074.0 (2022) and $9,976.7 (2021)	9,311.3	8,985.1
Other noncurrent assets	4,535.7	4,082.7
Total assets	47,461.5	48,806.0
Current Liabilities
Short-term borrowings and current maturities of long-term debt	1,744.6	1,538.3
Accounts payable	1,683.2	1,670.6
Employee compensation	984.1	958.1
Sales rebates and discounts	8,568.4	6,845.8
Dividends payable	0.0	885.5
Income taxes payable	685.6	126.9
Other current liabilities	1,986.9	3,027.5
Total current liabilities	15,652.8	15,052.7
Other Liabilities
Long-term debt	14,143.8	15,346.4
Accrued retirement benefits (Note 8)	1,832.5	1,954.1
Long-term income taxes payable	3,641.7	3,920.0
Deferred tax liabilities	171.9	1,733.7
Other noncurrent liabilities	1,852.9	1,644.3
Total other liabilities	21,642.8	24,598.5
Commitments and Contingencies (Note 9)
Eli Lilly and Company Shareholders' Equity
Common stock	594.1	596.3
Additional paid-in capital	6,829.0	6,833.4
Retained earnings	10,006.5	8,958.5
Employee benefit trust	(3,013.2)	(3,013.2)
Accumulated other comprehensive loss (Note 10)	(4,295.8)	(4,343.1)
Cost of common stock in treasury	(50.5)	(52.7)
Total Eli Lilly and Company shareholders' equity	10,070.1	8,979.2
Noncontrolling interests	95.8	175.6
Total equity	10,165.9	9,154.8
Total liabilities and equity	$ 47,461.5	$ 48,806.0

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Receivables, Net, Current [Abstract]
Allowances for doubtful accounts	$ 17.7	$ 22.5
Property and equipment, accumulated depreciation	$ 10,074.0	$ 9,976.7

Consolidated Condensed Statements of Equity - USD ($)
shares in Thousands, $ in Millions

Total

Common Stock

Additional Paid-in Capital

Retained Earnings

Employee Benefit Trust

Accumulated Other Comprehensive Loss

Common Stock in Treasury

Noncontrolling Interests

Beginning balance (in shares) at Dec. 31, 2020

957,077

Beginning balance (in shares) at Dec. 31, 2020

^[1]

487

Beginning balance at Dec. 31, 2020

$ 598.2

$ 6,778.5

$ 7,830.2

$ (3,013.2)

$ (6,496.4)

$ (55.7)

^[1]

$ 183.6

Increase (Decrease) in Shareholders' Equity [Roll Forward]

Net income (loss)

3,855.6

25.2

Other comprehensive income (loss), net of tax

323.7

Cash dividends declared

(1,542.9)

Retirement of treasury shares (in shares)

(2,467)

^[1]

Retirement of treasury shares

$ (1.5)

(498.5)

$ 500.0

^[1]

Purchase of treasury shares (in shares)

^[1]

2,467

Purchase of treasury shares

^[1]

$ (500.0)

Issuance of stock under employee stock plans, net (in shares)

2,442

(24)

^[1]

Issuance of stock under employee stock plans, net

$ 1.5

(287.1)

$ 3.0

^[1]

Stock-based compensation

267.5

Other

(0.9)

(5.0)

(11.7)

Ending balance (in shares) at Sep. 30, 2021

957,052

Ending balance (in shares) at Sep. 30, 2021

^[2]

463

Ending balance at Sep. 30, 2021

$ 598.2

6,758.0

9,639.4

(3,013.2)

(6,172.7)

$ (52.7)

^[2]

197.1

Beginning balance (in shares) at Jun. 30, 2021

957,038

Beginning balance (in shares) at Jun. 30, 2021

^[2]

463

Beginning balance at Jun. 30, 2021

$ 598.1

6,669.2

8,530.1

(3,013.2)

(6,287.1)

$ (52.7)

^[2]

219.1

Increase (Decrease) in Shareholders' Equity [Roll Forward]

Net income (loss)

1,110.1

(22.6)

Other comprehensive income (loss), net of tax

114.4

Issuance of stock under employee stock plans, net (in shares)

Issuance of stock under employee stock plans, net

$ 0.1

(1.3)

Stock-based compensation

90.1

Other

(0.8)

0.6

Ending balance (in shares) at Sep. 30, 2021

957,052

Ending balance (in shares) at Sep. 30, 2021

^[2]

463

Ending balance at Sep. 30, 2021

$ 598.2

6,758.0

9,639.4

(3,013.2)

(6,172.7)

$ (52.7)

^[2]

197.1

Beginning balance (in shares) at Dec. 31, 2021

954,116

Beginning balance (in shares) at Dec. 31, 2021

^[1]

463

Beginning balance at Dec. 31, 2021

$ 9,154.8

$ 596.3

6,833.4

8,958.5

(3,013.2)

(4,343.1)

$ (52.7)

^[1]

175.6

Increase (Decrease) in Shareholders' Equity [Roll Forward]

Net income (loss)

4,307.1

(63.7)

Other comprehensive income (loss), net of tax

47.3

Cash dividends declared

(1,765.9)

Retirement of treasury shares (in shares)

(5,607)

^[1]

Retirement of treasury shares

$ (3.5)

(1,496.5)

$ 1,500.0

^[1]

Purchase of treasury shares (in shares)

^[1]

5,607

Purchase of treasury shares

^[1]

$ (1,500.0)

Issuance of stock under employee stock plans, net (in shares)

2,118

(13)

^[1]

Issuance of stock under employee stock plans, net

$ 1.3

(282.6)

$ 2.2

^[1]

Stock-based compensation

278.2

Other

3.3

(16.1)

Ending balance (in shares) at Sep. 30, 2022

950,627

Ending balance (in shares) at Sep. 30, 2022

^[2]

450

Ending balance at Sep. 30, 2022

10,165.9

$ 594.1

6,829.0

10,006.5

(3,013.2)

(4,295.8)

$ (50.5)

^[2]

95.8

Beginning balance (in shares) at Jun. 30, 2022

950,619

Beginning balance (in shares) at Jun. 30, 2022

^[2]

450

Beginning balance at Jun. 30, 2022

$ 594.1

6,746.0

8,556.0

(3,013.2)

(4,287.7)

$ (50.5)

^[2]

114.5

Increase (Decrease) in Shareholders' Equity [Roll Forward]

Net income (loss)

1,451.7

(15.7)

Other comprehensive income (loss), net of tax

(8.1)

Issuance of stock under employee stock plans, net (in shares)

Issuance of stock under employee stock plans, net

(2.1)

Stock-based compensation

85.1

Other

(1.2)

(3.0)

Ending balance (in shares) at Sep. 30, 2022

950,627

Ending balance (in shares) at Sep. 30, 2022

^[2]

450

Ending balance at Sep. 30, 2022

$ 10,165.9

$ 594.1

$ 6,829.0

$ 10,006.5

$ (3,013.2)

$ (4,295.8)

$ (50.5)

^[2]

$ 95.8

[1]	As of September 30, 2022, there was $3.25 billion remaining under our $5.00 billion share repurchase program authorized in May 2021.
[2]	As of September 30, 2022, there was $3.25 billion remaining under our $5.00 billion share repurchase program authorized in May 2021.

Consolidated Condensed Statements of Equity (Parenthetical) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	May 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividend declared per share (in dollars per share)	$ 1.96	$ 1.70
Stock repurchase program, remaining authorized amount	$ 3,250,000,000
Stock repurchase program, authorized amount			$ 5,000,000,000

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net income	$ 4,307.1	$ 3,855.6
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:
Depreciation and amortization	1,147.5	1,101.9
Change in deferred income taxes	(2,195.6)	(709.8)
Debt extinguishment loss (Note 6)	0.0	405.2
Stock-based compensation expense	278.2	267.5
Net investment (gains) losses	676.4	(271.1)
Acquired in-process research and development	252.0	498.3
Other changes in operating assets and liabilities, net of acquisitions and divestitures	821.5	(548.1)
Other non-cash operating activities, net	217.6	504.7
Net Cash Provided by Operating Activities	5,504.7	5,104.2
Cash Flows from Investing Activities
Net purchases of property and equipment	(1,353.6)	(1,018.4)
Proceeds from sales and maturities of short-term investments	83.1	46.6
Purchases of short-term investments	(65.0)	(27.9)
Proceeds from sales of noncurrent investments	251.6	537.2
Purchases of noncurrent investments	(474.1)	(710.1)
Cash paid for acquisitions, net of cash acquired (Note 3)	0.0	(747.4)
Purchases of in-process research and development	(574.8)	(460.6)
Other investing activities, net	(268.3)	(2.7)
Net Cash Used for Investing Activities	(2,401.1)	(2,383.3)
Cash Flows from Financing Activities
Dividends paid	(2,651.4)	(2,313.5)
Net change in short-term borrowings	1,741.3	(1.5)
Proceeds from issuance of long-term debt	0.0	2,410.8
Repayments of long-term debt	(1,560.0)	(1,905.3)
Purchases of common stock	(1,500.0)	(500.0)
Other financing activities, net	(295.2)	(295.3)
Net Cash Used for Financing Activities	(4,265.3)	(2,604.8)
Effect of exchange rate changes on cash and cash equivalents	(39.4)	15.0
Net decrease in cash and cash equivalents	(1,201.1)	131.1
Cash and cash equivalents at January 1	3,818.5	3,657.1
Cash and Cash Equivalents at September 30	$ 2,617.4	$ 3,788.2

Basis of Presentation and Implementation of New Financial Accounting Standard	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Implementation of New Financial Accounting Standard	Basis of Presentation and Implementation of New Financial Accounting Standard We have prepared the accompanying unaudited consolidated condensed financial statements in accordance with the requirements of Form 10-Q and, therefore, they do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States (GAAP). In our opinion, the consolidated condensed financial statements reflect all adjustments (including those that are normal and recurring) that are necessary for a fair presentation of the results of operations for the periods shown. In preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with our consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2021. We issue our financial statements by filing them with the Securities and Exchange Commission and have evaluated subsequent events up to the time of the filing of this Quarterly Report on Form 10-Q. Certain reclassifications have been made to prior periods in the consolidated condensed financial statements and accompanying notes to conform with the current presentation. All per-share amounts, unless otherwise noted in the footnotes, are presented on a diluted basis; that is, based on the weighted-average number of common shares outstanding plus the effect of incremental shares from our stock-based compensation programs. We operate as a single operating segment engaged in the discovery, development, manufacturing, marketing, and sales of pharmaceutical products worldwide. A global research and development organization and a supply chain organization are responsible for the discovery, development, manufacturing, and supply of our products. Regional commercial organizations market, distribute, and sell the products. The business is also supported by global corporate staff functions. Our determination that we operate as a single segment is consistent with the financial information regularly reviewed by the chief operating decision maker for purposes of evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting for future periods. Research and Development Expenses and Acquired In-Process Research and Development (IPR&D) and Development Milestones Research and development costs are expensed as incurred. Research and development costs consist of expenses incurred in performing research and development activities, including but not limited to, compensation and benefits, facilities and overhead expense, clinical trial expense, and fees paid to contract research organizations. Acquired IPR&D and development milestones include the initial costs of externally developed IPR&D projects, acquired directly in a transaction other than a business combination, that do not have an alternative future use. Additionally, milestone payment obligations related to these transactions that are incurred prior to regulatory approval of the compound are expensed when the event triggering an obligation to pay the milestone occurs. Implementation of New Financial Accounting Standard Accounting Standards Update 2021-01, Reference Rate Reform, provides for temporary optional expedients and exceptions in applying current GAAP to contracts, hedging relationships, and other transactions affected by the transition from the use of the London Interbank Offered Rate (LIBOR) to an alternative reference rate. The standard is currently applicable to contracts entered into before January 1, 2023. We adopted the standard in the first quarter of 2022. The adoption did not have a material impact on our consolidated condensed financial statements.

Revenue

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue

The following table summarizes our revenue recognized in our consolidated condensed statements of operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net product revenue	$	6,119.2	$	6,189.0	$	19,123.0	$	18,579.5
Collaboration and other revenue(1)	822.4		583.8		2,116.6		1,739.0
Revenue	$	6,941.6	$	6,772.8	$	21,239.6	$	20,318.5

(1) Collaboration and other revenue associated with prior period transfers of intellectual property was $43.3 million and $130.9 million during the three and nine months ended September 30, 2022, respectively, and $62.1 million and $136.1 million during the three and nine months ended September 30, 2021, respectively.

We recognize revenue primarily from two different types of contracts, product sales to customers (net product revenue) and collaborations and other arrangements. Revenue recognized from collaborations and other arrangements includes our share of profits from the collaborations, as well as royalties, upfront and milestone payments we receive under these types of contracts. See Note 4 for additional information related to our collaborations and other arrangements. Collaboration and other revenue disclosed above includes the revenue from the Jardiance® and Trajenta® families of products resulting from our collaboration with Boehringer Ingelheim discussed in Note 4. Substantially all of the remainder of collaboration and other revenue is related to contracts accounted for as contracts with customers.

Adjustments to Revenue

Adjustments to increase revenue recognized as a result of changes in estimates for our most significant United States (U.S.) sales returns, rebates, and discounts liability balances for products shipped in previous periods were 3 percent of U.S. revenue for the three months ended September 30, 2022 and less than 1 percent of U.S. revenue during the nine months ended September 30, 2022 and the three and nine months ended September 30, 2021.

Contract Liabilities

Our contract liabilities result from arrangements where we have received payment in advance of performance under the contract and do not include sales returns, rebates, and discounts. Changes in contract liabilities are generally due to either receipt of additional advance payments or our performance under the contract.

The following table summarizes contract liability balances:


	September 30, 2022		December 31, 2021
Contract liabilities	$	232.5	$	262.6

During the three and nine months ended September 30, 2022 and 2021, revenue recognized from contract liabilities as of the beginning of the respective year was not material. Revenue expected to be recognized in the future from contract liabilities as the related performance obligations are satisfied is not expected to be material in any one year.

Disaggregation of Revenue

The following table summarizes revenue by product for the three months ended September 30, 2022 and 2021:


	Three Months Ended September 30,
	2022						2021
	U.S.		Outside U.S.		Total		U.S.		Outside U.S.		Total
Revenue—to unaffiliated customers:
Diabetes:
Trulicity®	$	1,418.3	$	432.0	$	1,850.4	$	1,201.4	$	398.8	$	1,600.1
Jardiance(1)	350.9		222.4		573.3		221.2		169.2		390.4
Humalog® (2)	248.1		198.8		447.0		347.3		279.4		626.7
Humulin®	169.5		68.7		238.2		193.4		93.4		286.7
Basaglar®	124.8		68.1		193.0		114.7		78.1		192.8
Mounjaro®	97.3		90.0		187.3		—		—		—
Other diabetes	79.7		94.0		173.4		65.0		112.2		177.4
Total diabetes	2,488.6		1,174.0		3,662.6		2,143.0		1,131.1		3,274.1

Oncology:
Verzenio®	414.8		202.9		617.7		199.6		135.9		335.5
Cyramza®	87.5		144.6		232.1		84.8		168.6		253.4
Erbitux®	126.3		18.7		144.9		114.0		20.3		134.3
Alimta®	64.6		54.8		119.4		297.2		159.8		457.0
Tyvyt®	—		76.8		76.8		—		125.6		125.6
Other oncology	39.5		62.8		102.4		35.3		65.1		100.3
Total oncology	732.7		560.6		1,293.3		730.9		675.3		1,406.1

Immunology:
Taltz®	493.8		186.1		679.9		422.2		170.9		593.1
Olumiant® (3)	22.9		160.0		182.9		194.0		212.9		406.9
Other immunology	—		3.6		3.6		—		4.9		4.9
Total immunology	516.7		349.7		866.4		616.2		388.7		1,004.9

Neuroscience:
Emgality®	114.0		54.6		168.5		99.9		40.1		140.0
Zyprexa®	8.0		73.4		81.4		13.0		88.7		101.7
Cymbalta®	7.8		54.9		62.7		7.0		125.1		132.0

Other neuroscience	16.0		44.5		60.6		24.7		51.6		76.5
Total neuroscience	145.8		227.4		373.2		144.6		305.5		450.2


Other:
COVID-19 antibodies(4)	386.6		—		386.6		215.5		1.6		217.1
Forteo®	112.7		64.4		177.1		109.6		91.3		200.9
Cialis®	8.1		107.7		115.7		(6.5)		137.4		130.9
Other	30.9		35.7		66.6		36.3		52.4		88.8
Total other	538.3		207.8		746.0		354.9		282.7		637.7
Revenue	$	4,422.1	$	2,519.4	$	6,941.6	$	3,989.6	$	2,783.3	$	6,772.8

Numbers may not add due to rounding.

(1) Jardiance revenue includes Glyxambi®, Synjardy®, and Trijardy® XR.

(2) Humalog revenue includes insulin lispro.

(3) Olumiant revenue includes sales for baricitinib that were made pursuant to Emergency Use Authorization (EUA) or similar regulatory authorizations.

(4) COVID-19 antibodies include sales for bamlanivimab administered alone, for bamlanivimab and etesevimab administered together, and for bebtelovimab and were made pursuant to EUAs or similar regulatory authorizations.

The following table summarizes revenue by product for the nine months ended September 30, 2022 and 2021:


	Nine Months Ended September 30,
	2022						2021
	U.S.		Outside U.S.		Total		U.S.		Outside U.S.		Total
Revenue—to unaffiliated customers:
Diabetes:
Trulicity	$	4,162.4	$	1,341.1	$	5,503.5	$	3,465.7	$	1,122.5	$	4,588.2
Humalog(1)	855.8		656.4		1,512.3		1,009.0		842.3		1,851.3
Jardiance(2)	831.4		622.4		1,453.7		566.8		492.1		1,058.9
Humulin	562.3		223.1		785.4		633.5		290.3		923.8
Basaglar	339.9		218.8		558.7		423.3		226.8		650.1
Mounjaro	109.9		93.3		203.2		—		—		—
Other diabetes	195.6		276.5		472.2		185.7		302.6		488.3
Total diabetes	7,057.3		3,431.6		10,489.0		6,284.0		3,276.6		9,560.6

Oncology:
Verzenio	1,100.5		575.1		1,675.6		582.1		363.7		945.8
Cyramza	259.3		434.3		693.6		266.3		496.3		762.5
Alimta	490.5		200.5		691.1		911.9		714.7		1,626.6
Erbitux	361.0		47.4		408.3		357.7		45.9		403.7
Tyvyt	—		235.8		235.8		—		340.2		340.2
Other oncology	124.1		186.5		310.6		83.7		169.9		253.6
Total oncology	2,335.4		1,679.6		4,015.0		2,201.7		2,130.7		4,332.4

Immunology:
Taltz	1,212.6		561.6		1,774.2		1,071.6		493.8		1,565.4
Olumiant(3)	104.6		520.1		624.7		236.5		572.6		809.1
Other immunology	0.1		12.1		12.1		15.2		14.5		29.7
Total immunology	1,317.3		1,093.8		2,411.0		1,323.3		1,080.9		2,404.2

Neuroscience:
Emgality	330.8		144.4		475.2		313.5		102.2		415.7
Zyprexa	26.2		235.5		261.7		28.3		264.5		292.8
Cymbalta	25.0		194.3		219.3		30.3		454.0		484.3

Other neuroscience	62.0		142.7		204.7		81.0		154.0		235.0
Total neuroscience	444.0		716.9		1,160.9		453.1		974.7		1,427.8

Other:
COVID-19 antibodies(4)	1,970.9		14.7		1,985.5		949.5		226.7		1,176.2
Cialis	25.8		454.7		480.4		(3.1)		541.8		538.7
Forteo	261.4		191.7		453.0		330.1		287.7		617.8
Other	119.4		125.1		244.8		96.5		164.3		260.8
Total other	2,377.5		786.2		3,163.7		1,373.0		1,220.5		2,593.5
Revenue	$	13,531.5	$	7,708.1	$	21,239.6	$	11,635.1	$	8,683.4	$	20,318.5

Numbers may not add due to rounding.

(1) Humalog revenue includes insulin lispro.

(2) Jardiance revenue includes Glyxambi, Synjardy, and Trijardy XR.

(3) Olumiant revenue includes sales for baricitinib that were made pursuant to EUA or similar regulatory authorizations.

The following table summarizes revenue by geographical area:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Revenue—to unaffiliated customers(1):
U.S.	$	4,422.1	$	3,989.6	$	13,531.5	$	11,635.1
Europe	1,056.4		1,098.6		3,224.8		3,629.6
Japan	487.7		595.0		1,352.3		1,832.2
China	343.4		400.3		1,102.0		1,285.0
Other foreign countries	632.0		689.4		2,029.1		1,936.7
Revenue	$	6,941.6	$	6,772.8	$	21,239.6	$	20,318.5

Numbers may not add due to rounding.

(1) Revenue is attributed to the countries based on the location of the customer.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Acquisitions

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

We engage in various forms of business development activities to enhance our product pipeline, including acquisitions, collaborations, investments, and licensing arrangements. In connection with these arrangements, our partners may be entitled to future royalties and/or commercial milestones based on sales should products be approved for commercialization and/or milestones based on the successful progress of compounds through the development process.

In January 2021, we completed the acquisition of Prevail Therapeutics Inc. (Prevail). This transaction, as further discussed below in Acquisition of a Business, was accounted for as a business combination under the acquisition method of accounting. Under this method, the assets acquired and liabilities assumed were recorded at their respective fair values as of the acquisition date in our consolidated condensed financial statements. The determination of estimated fair value required management to make significant estimates and assumptions. The excess of the purchase price over the fair value of the acquired net assets, where applicable, has been recorded as goodwill. The results of operations of this acquisition is included in our consolidated condensed financial statements from the date of acquisition.

We also acquired assets in development which are further discussed below in Asset Acquisitions. Upon each acquisition, the cost allocated to acquired IPR&D is immediately expensed if the compound has no alternative future use. Milestone payment obligations incurred prior to regulatory approval of the compound are expensed when the event triggering an obligation to pay the milestone occurs. We recognized acquired IPR&D and development milestone charges of $62.4 million and $668.4 million for the three and nine months ended September 30, 2022, respectively, and $177.6 million and $532.4 million for the three and nine months ended September 30, 2021, respectively.

Acquisition of a Business

Prevail Acquisition

Overview of Transaction

In January 2021, we acquired all shares of Prevail for a purchase price that included $22.50 per share in cash (or an aggregate of $747.4 million, net of cash acquired) plus one non-tradable contingent value right (CVR) per share. The CVR entitles Prevail stockholders up to an additional $4.00 per share in cash (or an aggregate of approximately $160 million) payable, subject to certain terms and conditions, upon the first regulatory approval of a Prevail product in one of the following countries: U.S., Japan, United Kingdom, Germany, France, Italy, or Spain. To achieve the full value of the CVR, such regulatory approval must occur by December 31, 2024. If such regulatory approval occurs after December 31, 2024, the value of the CVR will be reduced by approximately 8.3 cents per month until December 1, 2028, at which point the CVR will expire without payment.

Under the terms of the agreement, we acquired potentially disease-modifying AAV9-based gene therapies for patients with neurodegenerative diseases. The acquisition established a new modality for drug discovery and development, extending our research efforts through the creation of a gene therapy program that is being anchored by Prevail's portfolio of assets. The lead gene therapies in clinical development that we acquired were PR001 for patients with Parkinson's disease with GBA1 mutations and neuronopathic Gaucher disease and PR006 for patients with frontotemporal dementia with GRN mutations. Both PR001 and PR006 were granted Fast Track designation from the U.S. Food and Drug Administration (FDA).

Assets Acquired and Liabilities Assumed

The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date:


Estimated Fair Value at January 22, 2021
Cash	$	90.5
Acquired IPR&D(1)	824.0
Goodwill(2)	126.8
Deferred tax liabilities	(106.0)
Other assets and liabilities, net	(31.5)
Acquisition date fair value of consideration transferred	903.8
Less:
Cash acquired	(90.5)
Fair value of CVR liability(3)	(65.9)
Cash paid, net of cash acquired	$	747.4

(1) Acquired IPR&D intangibles primarily relate to PR001. In the third quarter of 2022, we impaired the intangible asset related to PR001. See Note 5 for additional information.

(2) The goodwill recognized from this acquisition is not deductible for tax purposes.

(3) See Note 6 for a discussion on the estimation of the CVR liability.

We are unable to provide the results of operations for the three and nine months ended September 30, 2022 and 2021 attributable to Prevail as those operations were substantially integrated into our legacy business.

Pro forma information has not been included as this acquisition did not have a material impact on our consolidated condensed statements of operations for the three and nine months ended September 30, 2021.

Asset Acquisitions

The following table summarizes our significant asset acquisitions during the nine months ended September 30, 2022 and 2021:

Counterparty

Compound(s), Therapy or Asset

Acquisition Month

Phase of Development(1)

Acquired IPR&D Expense

BioMarin Pharmaceutical Inc.

Priority Review Voucher

February 2022

Not applicable

110.0

Rigel Pharmaceuticals, Inc.

R552, a receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitor, for the potential treatment of autoimmune and inflammatory diseases

March 2021

Phase I

125.0

Precision Biosciences, Inc.

Potential in vivo therapies for genetic disorders

January 2021

Pre-clinical

107.8

(1) The phase of development presented is as of the date of the arrangement and represents the phase of development of the most advanced asset acquired, where applicable.

In connection with our acquisition of Petra Pharma Corporation (Petra), we were required to make milestone payments to Petra shareholders contingent upon the occurrence of certain future events linked to the success of the mutant-selective PI3Kα inhibitor. In the second quarter of 2022, we entered into agreements with substantially all Petra shareholders to acquire their rights to receive any future milestone payments in exchange for a one-time payment. As a result of these agreements, we recognized a charge of $333.8 million as a development milestone during the nine months ended September 30, 2022. Any remaining contingent milestones payments linked to the success of the mutant-selective PI3Kα are not expected to be material. We recognized no other significant development milestones during the three and nine months ended September 30, 2022 and 2021.

Subsequent Event - Akouos, Inc. (Akouos) AcquisitionOn October 17, 2022, we entered into a definitive agreement to acquire Akouos. Pursuant to the terms of the agreement, we have commenced a tender offer to acquire all outstanding shares of Akouos for a purchase price of $12.50 per share in cash (an aggregate of approximately $487 million), payable at closing, plus one non-tradable CVR per share that will entitle the holder to receive up to an additional $3.00 per CVR in cash (an aggregate of up to approximately $123 million) upon the achievement of certain specified milestones. The acquisition will expand our gene therapy portfolio to include potential treatments for hearing loss and other inner ear conditions. The acquisition is not subject to any financing condition and is expected to close in the fourth quarter of 2022, subject to customary closing conditions, including receipt of required antitrust clearance and the tender of a majority of the outstanding shares of Akouos's common stock.

Acquisitions

Acquisition of a Business

Prevail Acquisition

Overview of Transaction

Assets Acquired and Liabilities Assumed

The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date:


Estimated Fair Value at January 22, 2021
Cash	$	90.5
Acquired IPR&D(1)	824.0
Goodwill(2)	126.8
Deferred tax liabilities	(106.0)
Other assets and liabilities, net	(31.5)
Acquisition date fair value of consideration transferred	903.8
Less:
Cash acquired	(90.5)
Fair value of CVR liability(3)	(65.9)
Cash paid, net of cash acquired	$	747.4

(1) Acquired IPR&D intangibles primarily relate to PR001. In the third quarter of 2022, we impaired the intangible asset related to PR001. See Note 5 for additional information.

(2) The goodwill recognized from this acquisition is not deductible for tax purposes.

(3) See Note 6 for a discussion on the estimation of the CVR liability.

Asset Acquisitions

The following table summarizes our significant asset acquisitions during the nine months ended September 30, 2022 and 2021:

Counterparty

Compound(s), Therapy or Asset

Acquisition Month

Phase of Development(1)

Acquired IPR&D Expense

BioMarin Pharmaceutical Inc.

Priority Review Voucher

February 2022

Not applicable

110.0

Rigel Pharmaceuticals, Inc.

R552, a receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitor, for the potential treatment of autoimmune and inflammatory diseases

March 2021

Phase I

125.0

Precision Biosciences, Inc.

Potential in vivo therapies for genetic disorders

January 2021

Pre-clinical

107.8

(1) The phase of development presented is as of the date of the arrangement and represents the phase of development of the most advanced asset acquired, where applicable.

Collaborations and Other Arrangements

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Collaborations and Other Arrangements

We often enter into collaborative and other similar arrangements to develop and commercialize drug candidates. Collaborative activities may include research and development, marketing and selling (including promotional activities and physician detailing), manufacturing, and distribution. These arrangements often require milestone as well as royalty or profit-share payments, contingent upon the occurrence of certain future events linked to the success of the asset in development, as well as expense reimbursements from or payments to the collaboration partner. See Note 2 for amounts of collaboration and other revenue recognized from these types of arrangements.

Operating expenses for costs incurred pursuant to these arrangements are reported in their respective expense line item, net of any payments due to or reimbursements due from our collaboration partners, with such reimbursements being recognized at the time the party becomes obligated to pay. Each collaboration is unique in nature, and our more significant arrangements are discussed below.

Boehringer Ingelheim Diabetes Collaboration

We and Boehringer Ingelheim have a global agreement to jointly develop and commercialize a portfolio of diabetes compounds. Currently included in the collaboration are Boehringer Ingelheim's oral diabetes products: Jardiance, Glyxambi, Synjardy, Trijardy XR, Trajenta, and Jentadueto® as well as our basal insulin, Basaglar. Glyxambi, Synjardy, and Trijardy XR are included in the Jardiance product family. Jentadueto is included in the Trajenta product family.

In connection with the regulatory approvals of Jardiance, Trajenta, and Basaglar in the U.S., Europe, and Japan, milestone payments made for Jardiance and Trajenta were capitalized as intangible assets and are being amortized to cost of sales, and milestone payments received for Basaglar were recorded as contract liabilities and are being amortized to collaboration and other revenue. The milestones pertaining to Jardiance and Trajenta are being amortized through their respective term under the collaboration, which, depending on country or region, is determined based on the latest to occur of (a) a defined number of years following launch date, (b) the expiration of the compound patent, or (c) the expiration of marketing authorization exclusivity. The milestones pertaining to Basaglar are being amortized through 2029. The table below summarizes the net milestones capitalized with respect to the Jardiance and Trajenta families of products and the net milestones deferred with respect to Basaglar as of September 30, 2022 and December 31, 2021:


	Net Milestones Capitalized (Deferred)(1)
	September 30, 2022		December 31, 2021
Jardiance	$	121.2	$	136.1
Trajenta	69.6		88.5
Basaglar	(135.3)		(149.3)

(1) This represents the amounts that have been capitalized (deferred) from the start of this collaboration through the end of the reporting period, net of amount amortized.

For the Jardiance product family, we and Boehringer Ingelheim share equally the ongoing development and commercialization costs in the most significant markets, and we record our portion of the development and commercialization costs as research and development expense and marketing, selling, and administrative expense, respectively. We receive a royalty on net sales of Boehringer Ingelheim's products in the most significant markets and recognize the royalty as collaboration and other revenue. Boehringer Ingelheim is entitled to potential performance payments depending on the net sales of the Jardiance product family; therefore, our reported revenue for Jardiance may be reduced by any potential performance payments we make related to this product family. The royalty received by us related to the Jardiance product family may also be increased or decreased depending on whether net sales for this product family exceed or fall below certain thresholds. We pay to Boehringer Ingelheim a royalty on net sales for Basaglar in the U.S. We record our sales of Basaglar to third parties as net product revenue with the royalty payments made to Boehringer Ingelheim recorded as cost of sales.

The following table summarizes our collaboration and other revenue recognized with respect to the Jardiance and Trajenta families of products and net product revenue recognized with respect to Basaglar:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Jardiance	$	573.3	$	390.4	$	1,453.7	$	1,058.9
Basaglar	193.0		192.8		558.7		650.1
Trajenta	103.8		96.1		293.0		279.9

Olumiant

We have a worldwide license and collaboration agreement with Incyte Corporation (Incyte), which provides us the development and commercialization rights to baricitinib, branded and trademarked as Olumiant, and certain follow-on compounds, for the treatment of inflammatory and autoimmune diseases and COVID-19. Incyte has the right to receive tiered, double digit royalty payments on worldwide net sales with rates ranging up to 20 percent. Incyte has the right to receive an additional royalty ranging up to the low teens on worldwide net sales for the treatment of COVID-19 that exceed a specified aggregate worldwide net sales threshold. The agreement calls for payments by us to Incyte associated with certain development, success-based regulatory, and sales-based milestones.

In connection with the regulatory approvals of Olumiant in the U.S., Europe, and Japan, as well as achievement of a sales-based milestone, milestone payments of $330.0 million and $260.0 million were capitalized as intangible assets as of September 30, 2022 and December 31, 2021, respectively, and are being amortized to cost of sales through the term of the collaboration. This represents the cumulative amounts that have been capitalized from the start of this collaboration through the end of each reporting period.

As of September 30, 2022, Incyte is eligible to receive up to $100.0 million of additional payments from us in potential sales-based milestones.

We record our sales of Olumiant, including sales of baricitinib that were made pursuant to EUA or similar regulatory authorizations, to third parties as net product revenue with the royalty payments made to Incyte recorded as cost of sales. The following table summarizes our net product revenue recognized with respect to Olumiant:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Olumiant	$	182.9	$	406.9	$	624.7	$	809.1

COVID-19 Antibodies

We have a worldwide license and collaboration agreement with AbCellera Biologics Inc. (AbCellera) to co-develop therapeutic antibodies for the potential prevention and treatment of COVID-19, including bamlanivimab and bebtelovimab, for which we hold development and commercialization rights. AbCellera has the right to receive tiered royalty payments on worldwide net sales of bamlanivimab and bebtelovimab with percentages ranging in the mid-teens to mid-twenties. Royalty payments made to AbCellera are recorded as cost of sales.

We have a license and collaboration agreement with Shanghai Junshi Biosciences Co., Ltd. (Junshi Biosciences) to co-develop therapeutic antibodies for the potential prevention and treatment of COVID-19, including etesevimab, for which we hold development and commercialization rights outside of mainland China and the Special Administrative Regions of Hong Kong and Macau, and for which Junshi Biosciences currently maintains all rights in mainland China and the Special Administrative Regions of Hong Kong and Macau. Junshi Biosciences has the right to receive royalty payments in the mid-teens on our net sales of etesevimab. Junshi Biosciences received certain development, success-based regulatory and sales-based milestones. Capitalized regulatory and sales-based milestones were fully amortized to cost of sales as of September 30, 2022.

Pursuant to EUAs or similar regulatory authorizations, we recognized net product revenue associated with our sales of our COVID-19 antibodies of $386.6 million and $1.99 billion for the three and nine months ended September 30, 2022, respectively, and $217.1 million and $1.18 billion for the three and nine months ended September 30, 2021, respectively.

Sintilimab Injection

We have a collaboration agreement with Innovent Biologics, Inc. (Innovent) to jointly develop and commercialize sintilimab injection in China, where it is branded and trademarked as Tyvyt. In connection with regulatory approvals for Tyvyt in China, milestone payments of $120.0 million and $40.0 million were capitalized as intangible assets as of September 30, 2022 and December 31, 2021, respectively, and are being amortized to cost of sales through the term of the collaboration. This represents the cumulative amounts that have been capitalized from the start of this collaboration through the end of each reporting period. As of September 30, 2022, Innovent is eligible to receive up to $115.0 million in success-based regulatory and sales-based milestones.

We record our sales of Tyvyt to third parties as net product revenue, with payments made to Innovent for its portion of the gross margin reported as cost of sales. We report as collaboration and other revenue our portion of the gross margin for Tyvyt sales made by Innovent to third parties. The following table summarizes our revenue recognized in China with respect to Tyvyt:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Tyvyt	$	76.8	$	125.6	$	235.8	$	340.2

In 2020, we obtained an exclusive license for sintilimab injection from Innovent for geographies outside of China, which was subsequently terminated and rights have reverted to Innovent in October 2022.

Lebrikizumab

We have a worldwide license agreement with F. Hoffmann-La Roche Ltd and Genentech, Inc. (collectively, Roche), which provides us the worldwide development and commercialization rights to lebrikizumab. Roche has the right to receive tiered royalty payments on future worldwide net sales ranging in percentages from high single digits to high teens if the product is successfully commercialized. As of September 30, 2022, Roche is eligible to receive up to $180.0 million of payments from us contingent upon the achievement of success-based regulatory milestones and up to $1.03 billion in a series of sales-based milestones, contingent upon the commercial success of lebrikizumab.

We have a license agreement with Almirall, S.A. (Almirall), under which Almirall licensed the rights to develop and commercialize lebrikizumab for the treatment or prevention of dermatology indications, including, but not limited to, atopic dermatitis in Europe. We have the right to receive tiered royalty payments on future net sales in Europe ranging in percentages from low double digits to low twenties if the product is successfully commercialized. As of September 30, 2022, we are eligible to receive additional payments of $85.0 million from Almirall contingent upon the achievement of success-based regulatory milestones and up to $1.25 billion in a series of sales-based milestones, contingent upon the commercial success of lebrikizumab. There were no remaining contract liabilities as of September 30, 2022. As of December 31, 2021, contract liabilities were not material. During the three and nine months ended September 30, 2022 and 2021, collaboration and other revenue recognized was not material.

Asset Impairment, Restructuring, and Other Special Charges

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

Asset Impairment, Restructuring, and Other Special Charges

The components of the charges included in asset impairment, restructuring, and other special charges in our consolidated condensed statements of operations are described below.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Severance	$	—	$	—	$	—	$	11.5
Asset impairment and other special charges	206.5		—		206.5		200.1
Total asset impairment, restructuring, and other special charges	$	206.5	$	—	$	206.5	$	211.6

Asset impairment, restructuring, and other special charges recognized during the three and nine months ended September 30, 2022 were primarily related to an intangible asset impairment for GBA1 Gene Therapy (PR001), acquired in the Prevail acquisition, as a result of changes in key assumptions used in the valuation due to delays in estimated launch timing.

Asset impairment, restructuring, and other special charges recognized during the nine months ended September 30, 2021 were primarily related to an intangible asset impairment of $108.1 million resulting from the sale of the rights to Qbrexza®, as well as acquisition and integration costs associated with the acquisition of Prevail.

We recognized a net inventory impairment charge related to our COVID-19 antibodies of $435.1 million during the nine months ended September 30, 2021 in cost of sales in our consolidated condensed statements of operations. As part of our response to the COVID-19 pandemic, and at the request of the U.S. and international governments, we invested in large-scale manufacturing of COVID-19 antibodies at risk, in order to ensure rapid access to patients around the world. As the COVID-19 pandemic evolved during 2021, we incurred a net inventory impairment charge primarily due to the combination of changes to demand from U.S. and international governments, including changes to our agreement with the U.S. government, and near-term expiry dates of COVID-19 antibodies.

Financial Instruments

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Financial Instruments

Financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest-bearing investments. Wholesale distributors of life science products account for a substantial portion of our trade receivables; collateral is generally not required. We seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance. A large portion of our cash is held by a few major financial institutions. We monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations. In accordance with documented corporate risk-management policies, we monitor the amount of credit exposure to any one financial institution or corporate issuer. We are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their investment grade credit ratings.

We consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents. The cost of these investments approximates fair value.

Our equity investments are accounted for using three different methods depending on the type of equity investment:

•Investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method, with our share of earnings or losses reported in other-net, (income) expense.

•For equity investments that do not have readily determinable fair values, we measure these investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. Any change in recorded value is recorded in other-net, (income) expense.

•Our public equity investments are measured and carried at fair value. Any change in fair value is recognized in other-net, (income) expense.

We review equity investments other than public equity investments for indications of impairment and observable price changes on a regular basis.

Our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets, liabilities, and transactions being hedged. Management reviews the correlation and effectiveness of our derivatives on a quarterly basis.

For derivative instruments that are designated and qualify as fair value hedges, the derivative instrument is marked to market, with gains and losses recognized currently in income to offset the respective losses and gains recognized on the underlying exposure. For derivative instruments that are designated and qualify as cash flow hedges, gains and losses are reported as a component of accumulated other comprehensive loss and reclassified into earnings in the same period the hedged transaction affects earnings. For derivative and non-derivative instruments that are designated and qualify as net investment hedges, the foreign currency translation gains or losses due to spot rate fluctuations are reported as a component of accumulated other comprehensive loss. Derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized in earnings during the period of change.

We may enter into foreign currency forward or option contracts to reduce the effect of fluctuating currency exchange rates (principally the euro, British pound, Chinese yuan, and Japanese yen). Foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures. Forward and option contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies. These contracts are recorded at fair value with the gain or loss recognized in other–net, (income) expense. We may enter into foreign currency forward and option contracts and currency swaps as fair value hedges of firm commitments. Forward contracts generally have maturities not exceeding 12 months. At September 30, 2022, we had outstanding foreign currency forward commitments to purchase 1.69 billion U.S. dollars and sell 1.71 billion euro; commitments to purchase 2.24 billion euro and sell 2.24 billion U.S. dollars; commitments to purchase 239.5 million U.S. dollars and sell 1.63 billion Chinese yuan; commitments to purchase 82.1 million U.S. dollars and sell 11.86 billion Japanese yen; and commitments to purchase 182.1 million British pounds and sell 206.9 million U.S. dollars, which all have settlement dates within 180 days.

Foreign currency exchange risk is also managed through the use of foreign currency debt, cross-currency interest rate swaps, and foreign currency forward contracts. Our foreign currency-denominated notes had carrying amounts of $6.23 billion and $7.90 billion as of September 30, 2022 and December 31, 2021, respectively, of which $4.94 billion and $5.79 billion have been designated as, and are effective as, economic hedges of net investments in certain of our foreign operations as of September 30, 2022 and December 31, 2021, respectively. At September 30, 2022, we had outstanding cross-currency swaps with notional amounts of $1.56 billion swapping U.S. dollars to euro and $1.00 billion swapping Swiss francs to U.S. dollars which have settlement dates ranging through 2028. Our cross-currency interest rate swaps, for which a majority convert a portion of our U.S. dollar-denominated fixed-rate debt to foreign-denominated fixed-rate debt, have also been designated as, and are effective as, economic hedges of net investments. At September 30, 2022, we had outstanding foreign currency forward contracts to sell 1.34 billion euro with settlement dates ranging through 2023, which have been designated as, and are effective as, economic hedges of net investments.

In the normal course of business, our operations are exposed to fluctuations in interest rates which can vary the costs of financing, investing, and operating. We seek to address a portion of these risks through a controlled program of risk management that includes the use of derivative financial instruments. The objective of controlling these risks is to limit the impact of fluctuations in interest rates on earnings. Our primary interest-rate risk exposure results from changes in short-term U.S. dollar interest rates. In an effort to manage interest-rate exposures, we strive to achieve an acceptable balance between fixed- and floating-rate debt and investment positions and may enter into interest rate swaps or collars to help maintain that balance.

Interest rate swaps or collars that convert our fixed-rate debt to a floating rate are designated as fair value hedges of the underlying instruments. Interest rate swaps or collars that convert floating-rate debt to a fixed rate are designated as cash flow hedges. Interest expense on the debt is adjusted to include the payments made or received under the swap agreements. Cash proceeds from or payments to counterparties resulting from the termination of interest rate swaps are classified as operating activities in our consolidated condensed statements of cash flows. At September 30, 2022, substantially all of our total long-term debt is at a fixed rate. We have converted approximately 10 percent of our long-term fixed-rate notes to floating rates through the use of interest rate swaps.

We also may enter into forward-starting interest rate swaps, which we designate as cash flow hedges, as part of any anticipated future debt issuances in order to reduce the risk of cash flow volatility from future changes in interest rates. The change in fair value of these instruments is recorded as part of other comprehensive income (loss) and, upon completion of a debt issuance and termination of the swap, is amortized to interest expense over the life of the underlying debt. As of September 30, 2022, the total notional amounts of forward-starting interest rate contracts in designated cash flow hedging instruments were $1.75 billion, which have settlement dates ranging between 2023 and 2025.

Effective September 15, 2022, we increased our 364-day credit facility from $2.00 billion to $4.00 billion, which will expire in September 2023, and is available to support our commercial paper program. We have not drawn against the $4.00 billion 364-day credit facility as of September 30, 2022.

In September 2021, we issued euro-denominated notes consisting of €600.0 million of 0.50 percent fixed-rate notes due in September 2033, with interest to be paid annually. The net proceeds from the offering have been, and will continue to be, used to fund, in whole or in part, eligible projects designed to advance one or more of our environmental, social, and governance objectives.

In September 2021, we issued euro-denominated notes consisting of €500.0 million of 1.125 percent fixed-rate notes due in September 2051 and €700.0 million of 1.375 percent fixed-rate notes due in September 2061, with interest to be paid annually, and British pound-denominated notes consisting of £250.0 million of 1.625 percent fixed-rate notes due in September 2043, with interest to be paid annually. We paid $1.91 billion of the net cash proceeds from the offering to purchase and redeem certain higher interest rate U.S. dollar-denominated notes with an aggregate principal amount of $1.50 billion, resulting in a debt extinguishment loss of $405.2 million. This loss was included in other net, (income) expense in our consolidated condensed statement of operations during the three and nine months ended September 30, 2021. The $1.50 billion principal amount of higher interest rate U.S. dollar-denominated notes that were redeemed primarily included $541.8 million of 3.95 percent notes due 2049, $408.7 million of 4.15 percent notes due 2059, and $219.4 million of 3.375 percent notes due 2029. We used the remaining net proceeds from the offering to prefund certain 2022 debt maturities and for general corporate purposes.

The Effect of Risk-Management Instruments on the Consolidated Condensed Statements of Operations

The following effects of risk-management instruments were recognized in other–net, (income) expense:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Fair value hedges:
Effect from hedged fixed-rate debt	$	(62.9)	$	(10.1)	$	(215.7)	$	(60.5)
Effect from interest rate contracts	62.9		10.1		215.7		60.5
Cash flow hedges:
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss	4.1		4.2		12.3		12.5
Cross-currency interest rate swaps	33.1		10.0		75.0		58.1
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments	129.6		50.8		280.7		110.6
Total	$	166.8	$	65.0	$	368.0	$	181.2

During the three and nine months ended September 30, 2022 and 2021, the amortization of losses related to the portion of our risk management hedging instruments, fair value hedges, and cash flow hedges that was excluded from the assessment of effectiveness was not material.

The Effect of Risk-Management Instruments on Other Comprehensive Income (Loss)

The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net investment hedges:
Foreign currency-denominated notes	$	435.1	$	119.0	$	822.8	$	268.8
Cross-currency interest rate swaps	92.1		66.7		171.4		170.8
Foreign currency forward contracts	107.8		—		121.4		—
Cash flow hedges:
Forward-starting interest rate swaps	57.5		19.4		337.7		149.3
Cross-currency interest rate swaps	19.9		3.1		38.4		22.5

During the next 12 months, we expect to reclassify $16.7 million of pretax net losses on cash flow hedges from accumulated other comprehensive loss to other–net, (income) expense. During the three and nine months ended September 30, 2022 and 2021, the amounts excluded from the assessment of hedge effectiveness recognized in other comprehensive income (loss) were not material.

Fair Value of Financial Instruments

The following tables summarize certain fair value information at September 30, 2022 and December 31, 2021 for assets and liabilities measured at fair value on a recurring basis, as well as the carrying amount and amortized cost of certain other investments:


					Fair Value Measurements Using
	Carrying Amount		Cost(1)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
September 30, 2022
Cash equivalents	$	1,246.8	$	1,246.8	$	1,239.2	$	7.6	$	—	$	1,246.8

Short-term investments:
U.S. government and agency securities	$	43.0	$	43.5	$	43.0	$	—	$	—	$	43.0
Corporate debt securities	51.7		51.8		—		51.7		—		51.7

Asset-backed securities	3.0		3.0		—		3.0		—		3.0
Other securities	27.0		27.0		—		14.8		12.2		27.0

Short-term investments	$	124.7

Noncurrent investments:
U.S. government and agency securities	$	131.4	$	148.3	$	131.4	$	—	$	—	$	131.4

Corporate debt securities	206.4		232.5		—		206.4		—		206.4
Mortgage-backed securities	143.1		156.1		—		143.1		—		143.1
Asset-backed securities	43.6		45.5		—		43.6		—		43.6
Other securities	152.5		96.3		—		39.5		113.0		152.5
Marketable equity securities	549.1		416.1		549.1		—		—		549.1
Equity investments without readily determinable fair values(2)	583.7
Equity method investments(2)	764.8
Noncurrent investments	$	2,574.6

December 31, 2021
Cash equivalents	$	2,379.5	$	2,379.5	$	2,361.0	$	18.5	$	—	$	2,379.5

Short-term investments:
U.S. government and agency securities	$	25.7	$	25.6	$	25.7	$	—	$	—	$	25.7
Corporate debt securities	43.7		43.7		—		43.7		—		43.7
Mortgage-backed securities	0.2		0.2		—		0.2		—		0.2
Asset-backed securities	6.2		6.2		—		6.2		—		6.2
Other securities	14.3		14.3		—		—		14.3		14.3

Short-term investments	$	90.1

Noncurrent investments:
U.S. government and agency securities	$	137.0	$	136.8	$	137.0	$	—	$	—	$	137.0
Corporate debt securities	235.3		232.7		—		235.3		—		235.3
Mortgage-backed securities	109.8		108.1		—		109.8		—		109.8
Asset-backed securities	23.1		23.1		—		23.1		—		23.1
Other securities	108.1		22.2		—		—		108.1		108.1
Marketable equity securities	1,279.7		487.0		1,279.7		—		—		1,279.7
Equity investments without readily determinable fair values(2)	548.1
Equity method investments(2)	771.5
Noncurrent investments	$	3,212.6

(1) For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.

(2) Fair value disclosures are not applicable for equity method investments and investments accounted for under the measurement alternative for equity investments.


			Fair Value Measurements Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Short-term commercial paper borrowings
September 30, 2022	$	(1,741.3)	$	—	$	(1,738.0)	$	—	$	(1,738.0)
December 31, 2021	—		—		—		—		—
Long-term debt, including current portion
September 30, 2022	$	(14,147.1)	$	—	$	(11,848.6)	$	—	$	(11,848.6)
December 31, 2021	(16,884.7)		—		(18,157.7)		—		(18,157.7)


			Fair Value Measurements Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
September 30, 2022
Risk-management instruments:
Interest rate contracts designated as fair value hedges:



Other noncurrent liabilities	$	(140.2)	$	—	$	(140.2)	$	—	$	(140.2)


Interest rate contracts designated as cash flow hedges:
Other noncurrent assets	355.2		—		355.2		—		355.2

Cross-currency interest rate contracts designated as net investment hedges:
Other receivables	81.6		—		81.6		—		81.6
Other noncurrent assets	116.9		—		116.9		—		116.9


Cross-currency interest rate contracts designated as cash flow hedges:
Other noncurrent assets	8.3		—		8.3		—		8.3
Other noncurrent liabilities	(12.9)		—		(12.9)		—		(12.9)
Foreign exchange contracts designated as net investment hedges:
Other receivables	108.2		—		108.2		—		108.2
Other current liabilities	(2.9)		—		(2.9)		—		(2.9)
Foreign exchange contracts not designated as hedging instruments:
Other receivables	48.1		—		48.1		—		48.1
Other current liabilities	(93.5)		—		(93.5)		—		(93.5)


Contingent consideration liability:

Other noncurrent liabilities	(42.1)		—		—		(42.1)		(42.1)

December 31, 2021
Risk-management instruments:
Interest rate contracts designated as fair value hedges:
Other receivables	$	4.8	$	—	$	4.8	$	—	$	4.8
Other noncurrent assets	78.3		—		78.3		—		78.3

Other noncurrent liabilities	(7.6)		—		(7.6)		—		(7.6)
Interest rate contracts designated as cash flow hedges:
Other noncurrent assets	49.2		—		49.2		—		49.2
Other noncurrent liabilities	(31.7)		—		(31.7)		—		(31.7)
Cross-currency interest rate contracts designated as net investment hedges:

Other noncurrent assets	31.3		—		31.3		—		31.3
Other current liabilities	(1.2)		—		(1.2)		—		(1.2)

Cross-currency interest rate contracts designated as cash flow hedges:
Other noncurrent assets	33.2		—		33.2		—		33.2
Other noncurrent liabilities	(1.3)		—		(1.3)		—		(1.3)
Foreign exchange contracts not designated as hedging instruments:
Other receivables	9.9		—		9.9		—		9.9
Other current liabilities	(35.3)		—		(35.3)		—		(35.3)
Contingent consideration liabilities:

Other noncurrent liabilities	(70.5)		—		—		(70.5)		(70.5)

Risk-management instruments above are disclosed on a gross basis. There are various rights of setoff associated with certain of the risk-management instruments above that are subject to enforceable master netting arrangements or similar agreements. Although various rights of setoff and master netting arrangements or similar agreements may exist with the individual counterparties to the risk-management instruments above, individually, these financial rights are not material.

We determine our Level 1 and Level 2 fair value measurements based on a market approach using quoted market values, significant other observable inputs for identical or comparable assets or liabilities, or discounted cash flow analyses. Level 3 fair value measurements for other investment securities are determined using unobservable inputs, including the investments' cost adjusted for impairments and price changes from orderly transactions. Fair values are not readily available for certain equity investments measured under the measurement alternative.

As of September 30, 2022, we had approximately $854 million of unfunded commitments to invest in venture capital funds, which we anticipate will be paid over a period of up to 10 years.

Contingent consideration liability relates to our liability arising in connection with the CVR issued as a result of the Prevail acquisition. The fair value of the CVR liability was estimated using a discounted cash flow analysis and Level 3 inputs, including projections representative of a market participant's view of the expected cash payment associated with the first potential regulatory approval of a Prevail compound in the applicable countries based on probabilities of technical success, timing of the potential approval events for the compounds, and an estimated discount rate. See Note 3 for additional information related to the CVR arrangement.

The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of September 30, 2022:


	Maturities by Period
	Total		Less Than 1 Year		1-5 Years		6-10 Years		More Than 10 Years
Fair value of debt securities	$	622.2	$	97.7	$	197.8	$	121.0	$	205.7

The net gains (losses) recognized in our consolidated condensed statements of operations for equity securities were $(123.3) million and $(667.6) million for the three and nine months ended September 30, 2022, respectively, and $(246.8) million and $270.1 million for the three and nine months ended September 30, 2021, respectively. The net gains (losses) recognized for the three and nine months ended September 30, 2022 and 2021 on equity securities sold during the respective periods were not material.

We adjust our equity investments without readily determinable fair values based upon changes in the equity instruments' values resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Downward adjustments resulting from an impairment are recorded based upon impairment considerations, including the financial condition and near term prospects of the issuer, general market conditions, and industry specific factors. Adjustments recorded for the three and nine months ended September 30, 2022 and 2021 were not material.

A summary of the amount of unrealized gains and losses in accumulated other comprehensive loss and the fair value of available-for-sale securities in an unrealized gain or loss position follows:


	September 30, 2022		December 31, 2021
Unrealized gross gains	$	0.1	$	9.7
Unrealized gross losses	51.6		5.2
Fair value of securities in an unrealized gain position	13.8		250.7
Fair value of securities in an unrealized loss position	578.8		290.2

We periodically assess our investment in available-for-sale securities for impairment losses and credit losses. The amount of credit losses are determined by comparing the difference between the present value of future cash flows expected to be collected on these securities and the amortized cost. Factors considered in assessing credit losses include the position in the capital structure, vintage and amount of collateral, delinquency rates, current credit support, and geographic concentration. Impairment and credit losses related to available-for-sale securities were not material for the three and nine months ended September 30, 2022 and 2021.

As of September 30, 2022, the available-for-sale securities in an unrealized loss position include primarily fixed-rate debt securities of varying maturities, which are sensitive to changes in the yield curve and other market conditions. Approximately 95 percent of the fixed-rate debt securities in a loss position are investment-grade debt securities. As of September 30, 2022, we do not intend to sell, and it is not more likely than not that we will be required to sell, the securities in a loss position before the market values recover or the underlying cash flows have been received, and there is no indication of a material default on interest or principal payments for our debt securities.

Activity related to our available-for-sale securities was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Proceeds from sales	$	50.5	$	49.6	$	115.6	$	137.3
Realized gross gains on sales	—		0.4		0.2		2.2
Realized gross losses on sales	7.5		0.3		9.0		1.1

Realized gains and losses on sales of available-for-sale investments are computed based upon specific identification of the initial cost adjusted for any other-than-temporary declines in fair value that were recorded in earnings.

Accounts Receivable Factoring Arrangements

We have entered into accounts receivable factoring agreements with financial institutions to sell certain of our non-U.S. accounts receivable. These transactions are accounted for as sales and result in a reduction in accounts receivable because the agreements transfer effective control over, and risk related to, the receivables to the buyers. Our factoring agreements do not allow for recourse in the event of uncollectibility, and we do not retain any interest in the underlying accounts receivable once sold. We derecognized $356.8 million and $550.5 million of accounts receivable as of September 30, 2022 and December 31, 2021, respectively, under these factoring arrangements. The costs of factoring such accounts receivable on our consolidated condensed results of operations for the three and nine months ended September 30, 2022 and 2021 were not material.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates were 7.3 percent and 8.6 percent for the three and nine months ended September 30, 2022, respectively, reflecting the favorable tax impact of the implementation of a provision in the Tax Cuts and Jobs Act (2017 Tax Act) that requires capitalization and amortization of research and development expenses for tax purposes starting in 2022, net investment losses on equity securities, and an intangible asset impairment charge. We expect our effective tax rate to be approximately 13 percent to 14 percent for 2022 if the capitalization and amortization of research and development expenses provision of the 2017 Tax Act is deferred or repealed by the U.S. Congress effective for 2022. The effective tax rate was 10.9 percent for the three months ended September 30, 2021, reflecting the favorable tax impact of a debt extinguishment loss and of net investment losses on equity securities, partially offset by a net discrete tax detriment. The effective tax rate was 10.7 percent for the nine months ended September 30, 2021, reflecting the favorable tax impact of a net discrete tax benefit, a debt extinguishment loss, and a net inventory impairment charge related to our COVID-19 antibodies. The U.S. examination of tax years 2016-2018 began in the fourth quarter of 2019 and remains ongoing. The resolution of this audit period will likely extend beyond the next 12 months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Retirement Benefits

9 Months Ended

Sep. 30, 2022

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Retirement Benefits

Net pension and retiree health benefit (income) cost included the following components:


	Defined Benefit Pension Plans
	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Components of net periodic benefit cost:
Service cost	$	87.1	$	92.5	$	264.4	$	277.8
Interest cost	98.9		84.5		299.0		253.6
Expected return on plan assets	(235.1)		(237.5)		(711.6)		(712.7)
Amortization of prior service cost	0.6		1.0		1.9		3.2
Recognized actuarial loss	85.3		121.9		256.8		366.3

Net periodic benefit cost	$	36.8	$	62.4	$	110.5	$	188.2


	Retiree Health Benefit Plans
	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Components of net periodic benefit income:
Service cost	$	11.7	$	12.4	$	35.0	$	37.0
Interest cost	9.4		8.1		28.4		24.4
Expected return on plan assets	(38.0)		(36.5)		(114.1)		(109.6)
Amortization of prior service benefit	(13.7)		(14.9)		(41.1)		(44.7)
Recognized actuarial loss	0.2		0.8		0.7		2.4

Net periodic benefit income	$	(30.4)	$	(30.1)	$	(91.1)	$	(90.5)

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies We are involved in various lawsuits, claims, government investigations and other legal proceedings that arise in the ordinary course of business. These claims or proceedings can involve various types of parties, including governments, competitors, customers, suppliers, service providers, licensees, employees, or shareholders, among others. These matters may involve patent infringement, antitrust, securities, pricing, sales and marketing practices, environmental, commercial, contractual rights, licensing obligations, health and safety matters, consumer fraud, employment matters, product liability and insurance coverage, among others. The resolution of these matters often develops over a long period of time and expectations can change as a result of new findings, rulings, appeals or settlement arrangements. Legal proceedings that are significant or that we believe could become significant or material are described below. We believe the legal proceedings in which we are named as defendants are without merit and we are defending against them vigorously. It is not possible to determine the final outcome of these matters, and we cannot reasonably estimate the maximum potential exposure or the range of possible loss in excess of amounts accrued for any of these matters; however, we believe that the resolution of all such matters will not have a material adverse effect on our consolidated financial position or liquidity, but could possibly be material to our consolidated results of operations in any one accounting period. Litigation accruals, environmental liabilities, and the related estimated insurance recoverables are reflected on a gross basis as liabilities and assets, respectively, on our consolidated condensed balance sheets. With respect to the product liability claims currently asserted against us, we have accrued for our estimated exposures to the extent they are both probable and reasonably estimable based on the information available to us. We accrue for certain product liability claims incurred but not filed to the extent we can formulate a reasonable estimate of their costs. We estimate these expenses based primarily on historical claims experience and data regarding product usage. Legal defense costs expected to be incurred in connection with significant product liability loss contingencies are accrued when both probable and reasonably estimable. Because of the nature of pharmaceutical products, it is possible that we could become subject to large numbers of additional product liability and related claims in the future. Due to a very restrictive market for litigation liability insurance, we are self-insured for litigation liability losses for all our currently and previously marketed products. Patent Litigation Alimta European Patent Litigation In Europe, Alimta (pemetrexed) was protected by a patent through June 2021. A number of legal proceedings that were initiated prior to patent expiration are ongoing. Emgality Patent Litigation We are a named defendant in litigation filed by Teva Pharmaceuticals International GMBH and Teva Pharmaceuticals USA, Inc. (collectively, Teva) in the U.S. District Court for the District of Massachusetts seeking a ruling that various claims in three different Teva patents would be infringed by our launch and continued sales of Emgality for the prevention of migraine in adults. Trial began in October 2022. In June 2021, we were named as a defendant in a second litigation filed by Teva in the U.S. District Court for the District of Massachusetts seeking a ruling that two of Teva's patents, which are directed toward use of the active ingredient in Emgality to treat migraine, would be infringed by our continued sales of Emgality. We challenged these two patents by filing requests for Inter Partes Review with the Patent Trial and Appeal Board (PTAB) and in October 2022, the PTAB granted our requests.The corresponding district court litigation is stayed while this PTAB proceeding is ongoing. Jardiance Patent Litigation In November 2018, Boehringer Ingelheim, our partner in marketing and development of Jardiance, initiated U.S. patent litigation in the U.S. District Court of Delaware alleging infringement arising from submissions of Abbreviated New Drug Applications (ANDA) by a number of generic companies seeking approval to market generic versions of Jardiance, Glyxambi, and Synjardy in accordance with the procedures set out in the Drug Price Competition and Patent Term Restoration Act of 1984 (the Hatch-Waxman Act). Particularly with respect to Jardiance, the generic companies' ANDAs seek approval to market generic versions of Jardiance prior to the expiration of the relevant patents, and allege that certain patents, including in some allegations the compound patent, are invalid or would not be infringed. We are not a party to this litigation. This litigation has been stayed. Taltz Patent Litigation In April 2021, we petitioned the High Court of Ireland to declare invalid a patent that Novartis Pharma AG (Novartis) purchased from Genentech, Inc. in 2020. Novartis responded by filing a claim against us alleging patent infringement related to our commercialization of Taltz and seeking damages for past infringement and an injunction against future infringement. In April 2021, Novartis petitioned the Court of Rome Intellectual Property Division for a preliminary injunction (PI) against us related to our commercialization of Taltz in Italy. In May 2021, We commenced patent revocation proceedings against Novartis before the Court of Milan’s IP Division where we also sought a declaration of non-infringement. Novartis counter-claimed for patent infringement and sought a permanent injunction. A hearing on the PI request before the Court of Rome Intellectual Property Division took place in May 2022 and in July 2022, the court rejected Novartis' request. In November 2021, Novartis petitioned the Swiss Federal Patent Court for a PI and a permanent injunction in main infringement proceedings against us related to our commercialization of Taltz in Switzerland. We petitioned the court to revoke the patent and for a declaration of non-infringement. In April 2022, Novartis withdrew its PI request. In January 2022, we commenced an action in the Hague District Court asking for a judgment that a Novartis Dutch patent is not infringed by our commercialization of Taltz in the Netherlands and is invalid. In October 2022, Novartis filed a counterclaim for infringement and sought a permanent injunction. In October 2022, we entered into a settlement and mutual release agreement with Novartis, which resolves the above-described disputes. Without any admission of liability or wrongdoing, we and Novartis have agreed to mutual releases for past claims and mutual covenants not to sue the other in relation to Taltz and the patents Novartis purchased from Genentech. Zyprexa Canada Patent Litigation Beginning in the mid-2000s, several generic companies in Canada challenged the validity of our Zyprexa compound patent. In 2012, the Canadian Federal Court of Appeals denied our appeal of a lower court's decision that certain patent claims were invalid for lack of utility. In 2013, Apotex Inc. and Apotex Pharmachem Inc. (collectively, Apotex) brought claims against us in the Ontario Superior Court of Justice at Toronto for damages related to our enforcement of the Zyprexa compound patent under Canadian regulations governing patented drugs. Apotex seeks compensation based on novel legal theories under the Statute of Monopolies, Trademark Act, and common law. In March 2021, the Ontario Superior Court granted our motion for summary judgment, thereby dismissing Apotex's case. Apotex appealed that ruling to the Court of Appeal for Ontario in April 2021. In August 2022, the Court dismissed the appeal and in October 2022, Apotex appealed the decision. This matter is ongoing. Product Liability Litigation Byetta® Product Liability We have been named as a defendant in over 500 Byetta product liability lawsuits in the U.S. that were first initiated in March 2009 and involved over 800 plaintiffs. These lawsuits have been filed in various state and federal jurisdictions, including California state court (coordinated in Los Angeles County Superior Court), and various federal courts, the majority of which are coordinated in a multi-district litigation (MDL) in the U.S. District Court for the Southern District of California. The majority of these suits contain allegations that Byetta caused or contributed to the plaintiffs' cancer (primarily pancreatic cancer or thyroid cancer). The federal MDL and coordinated California state trial courts granted summary judgment in our favor on claims pertaining to pancreatic cancer, and the plaintiffs have dismissed Lilly from their appeal of the MDL ruling (the parties still await the order of judgment in the Los Angeles County Superior Court). Most of the MDL and state court lawsuits have been dismissed as of November 2022. Environmental Proceedings Under the Comprehensive Environmental Response, Compensation, and Liability Act, commonly known as "Superfund," we have been designated as one of several potentially responsible parties with respect to the cleanup of fewer than 10 sites. Under Superfund, each responsible party may be jointly and severally liable for the entire amount of the cleanup. Other Matters 340B Litigation and Investigations We are the plaintiff in a lawsuit filed in January 2021 in the U.S. District Court for the Southern District of Indiana against the U.S. Department of Health and Human Services (HHS), the Secretary of HHS, the Health Resources and Services Administration (HRSA), and the Administrator of HRSA. The lawsuit challenges the HHS's December 30, 2020 advisory opinion stating that drug manufacturers are required to deliver discounts under the 340B program to all contract pharmacies. We seek a declaratory judgment that the defendants violated the Administrative Procedures Act and the U.S. Constitution, a preliminary injunction enjoining implementation of the administrative dispute resolution process created by defendants and, with it, their application of the advisory opinion, and other related relief. In March 2021, the court entered an order preliminarily enjoining the government's enforcement of the administrative dispute resolution process against us. In May 2021, HRSA notified us that it determined that our policy was contrary to the 340B statute. In response, in May 2021, we filed a motion for preliminary injunction and temporary restraining order requesting that the U.S. District Court for the Southern District of Indiana enjoin defendants from taking any action against us relating to the 340B drug pricing program until after the court issues a final judgment on the aforementioned litigation. In May 2021, the court denied our motion for a temporary restraining order but deferred resolution of our motion for preliminary injunction. In June 2021, the defendants withdrew the HHS December 30, 2020 advisory opinion. In July 2021, the court held oral argument on the parties' cross motions for summary judgment, the defendants' motion to dismiss, and our motion for preliminary injunction related to HRSA's May 2021 enforcement letter. In October 2021, the court denied the defendants' motion to dismiss, and granted in part and denied in part the parties' cross motions for summary judgment. Both parties filed notices of appeal related to the court's summary judgment order. Oral argument took place in October 2022 in the U.S. Court of Appeals for the Seventh Circuit. This matter is ongoing. In January 2021, we, along with other pharmaceutical manufacturers, were named as a defendant in a petition currently pending before the HHS Administrative Dispute Resolution Panel. Petitioner seeks declaratory and other injunctive relief related to the 340B program. As described above, the U.S. District Court for the Southern District of Indiana has entered a preliminary injunction enjoining the government's enforcement of this administrative dispute resolution process against us. In July 2021, we, along with Sanofi-Aventis U.S., LLC (Sanofi), Novo Nordisk Inc. (Novo Nordisk), and AstraZeneca Pharmaceuticals LP, were named as a defendant in a purported class action lawsuit filed in the U.S. District Court for the Western District of New York by Mosaic Health, Inc. alleging antitrust and unjust enrichment claims related to the defendants' 340B distribution programs. We, with Sanofi and Novo Nordisk, filed a motion to dismiss the lawsuit, which was granted in September 2022. In October 2022, the plaintiffs filed a motion for leave to amend their complaint. This matter is ongoing. We received a civil investigative subpoena in February 2021 from the Office of the Attorney General for the State of Vermont relating to the sale of pharmaceutical products to Vermont covered entities under the 340B program. We are cooperating with this subpoena. Branchburg Manufacturing Facility In May 2021, we received a subpoena from the U.S. Department of Justice requesting the production of certain documents relating to our manufacturing site in Branchburg, New Jersey. We are cooperating with the subpoena. Brazil Litigation – Cosmopolis Facility Labor Attorney Litigation First initiated in 2008, our subsidiary in Brazil, Eli Lilly do Brasil Limitada (Lilly Brasil), is named in a Public Civil Action brought by the Labor Public Attorney (LPA) for the 15th Region in the Labor Court of Paulinia, State of Sao Paulo, Brazil, (the Labor Court) alleging possible harm to employees and former employees caused by alleged exposure to soil and groundwater contaminants at a former Lilly Brasil manufacturing facility in Cosmopolis, Brazil, operated by the company between 1977 and 2003. In May 2014, the Labor Court judge ruled against Lilly Brasil, ordering it to undertake several remedial and compensatory actions including health coverage for a class of individuals and certain of their children. In July 2018, the appeals court (TRT) generally affirmed our appeal of the Labor Court's ruling, which included a liquidated award of 300 million Brazilian real, which, when adjusted for inflation and the addition of pre and post judgment interest using the current Central Bank of Brazil's special system of clearance and custody rate, is approximately one billion Brazilian real (approximately $185 million as of September 30, 2022). In August 2019, Lilly Brasil filed an appeal to the superior labor court (TST) and in June 2021, the TRT published its decision on the admissibility of Lilly Brasil's appeal, allowing the majority of the elements, which were allowed to proceed in June 2021; elements not proceeding are subject to an interlocutory appeal to the TST that was filed in June 2021. In September 2019, the TRT stayed a number of elements of its trial court decision pending the determination of Lilly Brasil's appeal to the TST. In June 2019 and September 2020, the LPA filed applications in the Labor Court for enforcement of certain remedies granted by the TRT in its July 2018 decision, requested restrictions on Lilly Brasil’s assets in Brazil, and required Lilly Brasil and Antibióticos do Brasil Ltda. (ABL) to submit a list of potential beneficiaries of the Public Civil Action. In July 2019, the Labor Court issued a ruling requiring a freeze of Lilly Brasil’s immovable property or, alternatively, a security deposit or lien of 500 million Brazilian real, which ruling was subsequently limited in scope and the security was reduced to 100 million Brazilian real. ABL and LPA appealed the June 2021 Labor Court ruling to the TST, which appeal is under review. The Labor Court is currently assessing the status of Lilly Brasil’s and ABL’s compliance with such portion of the July 2018 TRT decision and an inspection in the industrial plant is expected. These matters are ongoing. Individual Former Employee Litigation Lilly Brasil is also named in over 20 pending lawsuits filed in the Labor Court by individual former employees making similar claims. These individual lawsuits are at various stages in the litigation process. Puerto Rico Tax Matter In May 2013, the Municipality of Carolina in Puerto Rico (Municipality) filed a lawsuit against us alleging noncompliance with respect to a contract with the Municipality and seeking a declaratory judgment. In December 2020, the Puerto Rico Appellate Court (AP) reversed the summary judgment previously granted by the Court of First Instance (CFI) in our favor, dismissing the Municipality's complaint in its entirety. The AP remanded the case to the CFI for trial on the merits. The trial began in May 2022; however, the Municipality filed a new motion requesting the CFI to award damages. The request was denied by the CFI in our favor and the Municipality filed for revision at the AP, which we opposed, staying the case. This matter is ongoing. Eastern District of Pennsylvania Pricing (Average Manufacturer Price) Inquiry In November 2014, we, along with another pharmaceutical manufacturer, were named as co-defendants in United States et al. ex rel. Streck v. Takeda Pharm. Am., Inc., et al., which was filed in November 2014 and unsealed in the U.S. District Court for the Northern District of Illinois. The complaint alleges that the defendants should have treated certain credits from distributors as retroactive price increases and included such increases in calculating average manufacturer prices. Following a trial in August 2022, the jury returned a verdict in favor of the plaintiff. The case is proceeding with post-trial motions after which the court will enter final judgment in the case. This matter is ongoing. Health Choice Alliance We are named as a defendant in two lawsuits filed in Texas and New Jersey state courts in October 2019 seeking damages under the Texas Medicaid Fraud Prevention Act and New Jersey Medicaid False Claims Act, respectively, for certain patient support programs related to our products Humalog, Humulin, and Forteo. The Texas state court action has been stayed. The New Jersey state court action was dismissed with prejudice pending an ongoing appeal before the Appellate Division of the New Jersey Superior Court. This matter is ongoing. Pricing Litigation In December 2017 and February 2018, we, along with Sanofi and Novo Nordisk, were named as defendants in a consolidated purported class action lawsuit, In re. Insulin Pricing Litigation and in MSP Recovery Claims, Series, LLC et al. v. Sanofi Aventis U.S. LLC et al., both filed in the U.S. District Court for the District of New Jersey. The cases relate to insulin pricing and seek damages or other relief under various theories, including state consumer protection laws, common law fraud, unjust enrichment, and the Federal Racketeer Influenced and Corrupt Organization Act (federal RICO Act). In both cases, the court dismissed claims under the federal RICO Act and certain state laws. In April 2021, the plaintiffs in In re. Insulin Pricing Litigation amended their complaint to allege additional state law claims for civil conspiracy and violations of state RICO statutes. The court allowed the Arizona RICO statute and certain state civil conspiracy law claims to proceed. Additionally in 2020, we, along with Sanofi, Novo Nordisk, CVS, Express Scripts, and Optum, have been sued in a putative class action, FWK Holdings, LLC v. Novo Nordisk Inc., et al., filed in the same court, for alleged violations of the federal RICO Act as well as the New Jersey RICO Act and antitrust law. The same group of defendants, along with Medco Health and United Health Group, also have been sued in other purported class actions in the same court, Rochester Drug Co-Operative Inc. v. Eli Lilly & Co. et al. and Value Drug Co. v. Eli Lilly & Co. et al., which were both initiated in March 2020, with the plaintiffs seeking damages for alleged violations of the federal RICO Act. In September 2020, the U.S. District Court for the District of New Jersey granted plaintiffs' motion to consolidate FWK Holdings, LLC v. Novo Nordisk Inc., et al., Rochester Drug Co-Operative Inc. v. Eli Lilly & Co. et al., and Value Drug Co. v. Eli Lilly & Co. et al. In July 2021, the U.S. District Court for the District of New Jersey dismissed the three antitrust claims alleged by plaintiffs in the consolidated litigation and denied dismissal of the federal RICO Act claims. In October 2018, the Minnesota Attorney General's Office initiated litigation against us, Sanofi, and Novo Nordisk, State of Minnesota v. Sanofi-Aventis U.S. LLC et al., in the U.S. District Court for the District of New Jersey, seeking damages for unjust enrichment, violations of various Minnesota state consumer protection laws, and the federal RICO Act. In March 2021, the U.S. District Court for the District of New Jersey dismissed with prejudice the Minnesota Attorney General's federal RICO claims and false advertising claims under state law; the consumer fraud and other related state law claims remain ongoing. Additionally, in May 2019, the Kentucky Attorney General's Office filed a complaint against us, Sanofi, and Novo Nordisk, Commonwealth of Kentucky v. Novo Nordisk, Inc. et al., in Kentucky state court, alleging violations of the Kentucky consumer protection law, false advertising, and unjust enrichment. In June 2021, the Mississippi Attorney General's Office initiated litigation against us, Sanofi, Novo Nordisk, Evernorth/ESI, CVS/Caremark, and United/Optum in the Hinds County, Mississippi Chancery Court, alleging state law consumer protection, unjust enrichment, and civil conspiracy claims. After the case was removed to federal court, we, along with the other defendants, filed a motion to dismiss the lawsuit, which was denied. This matter is ongoing. In May 2022, the state of Arkansas filed suit against us Sanofi, Novo Nordisk, ESI, CVS/Caremark/Aetna, and Optum, asserting state law consumer protection, civil conspiracy, and unjust enrichment claims. The case has been removed to federal court and is ongoing. In September 2022, the County of Albany, New York filed a suit against us, Sanofi, Novo Nordisk, Evernorth/ESI, CVS/Caremark and United/Optum asserting violations of federal RICO statute and state law claims for deceptive trade practices, unjust enrichment, and civil conspiracy. This matter is ongoing. In September 2022, the State of Montana filed a suit against us, Sanofi, Novo Nordisk, Evernorth/ESI, Medco Health Solutions, CVS/Caremark and Optum asserting violations of the Montana Unfair Practices and Consumer Protection Act, unjust enrichment, and civil conspiracy. This matter is ongoing. Investigations, Subpoenas, and Inquiries In connection with the pricing and sale of our insulin and other products, we have been subject to various investigations and received subpoenas, civil investigative demand requests, information requests, interrogatories, and other inquiries from various governmental entities. These include subpoenas from the New York and Vermont Attorney General Offices, civil investigative demands from the Washington, New Mexico, Colorado, Illinois, Ohio Attorney General Offices, the Department of Justice and the Federal Trade Commission, as well as information requests from the Mississippi, Washington D.C., California, Florida, Hawaii, and Nevada Attorney General Offices. In January 2022, the Michigan Attorney General filed a petition in Michigan state court seeking authorization to investigate Lilly for potential violations of the Michigan Consumer Protection Act (MCPA), and a complaint seeking a declaratory judgment that the Attorney General has authority to investigate Lilly's sale of insulin under the MCPA. The court authorized the proposed investigation and the issuance of civil investigative subpoenas. In April 2022, the parties entered into a stipulation providing that the State will not issue any civil investigative subpoena to us under the MCPA until the declaratory judgment action is resolved. In July 2022, the court dismissed the case in its entirety. The Michigan Attorney General filed a notice of appeal and an application to obtain review by the Michigan Supreme Court, which remain pending. We received a request in January 2019 from the House of Representatives' Committee on Oversight and Reform seeking commercial information and business records related to the pricing of insulin products, among other issues. We also received similar requests from the Senate Finance Committee and the Senate Committee on Health, Education, Labor, and Pensions, and separate requests from the House Committee on Energy and Commerce majority and minority members. In January 2021, the Senate Finance Committee released a report summarizing the findings of its investigation. In December 2021 the House of Representatives' Committee on Oversight and Reform majority and minority staffs released separate reports with findings from their investigations into drug pricing, including of insulin products. We are cooperating with all of the aforementioned investigations, subpoenas, and inquiries. Research Corporation Technologies, Inc. In April 2016, we were named as a defendant in litigation filed by Research Corporation Technologies, Inc. (RCT) in the U.S. District Court for the District of Arizona. RCT is seeking damages for breach of contract, unjust enrichment, and conversion related to processes used to manufacture certain products, including Humalog and Humulin. In October 2021, the court issued a summary judgment decision finding in favor of RCT on certain issues, including with respect to a disputed royalty. Both parties filed motions for reconsideration, which were denied. We filed supplemental summary judgment motions. A trial date has not been set. Potential damages payable under the litigation, if finally awarded after an appeal, could be material but are not currently reasonably estimable. This matter is ongoing.

Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2022

Statement of Comprehensive Income [Abstract]

Other Comprehensive Income (Loss)

The following tables summarize the activity related to each component of other comprehensive income (loss) during the three months ended September 30, 2022 and 2021:



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)		Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans		Effective Portion of Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance at July 1, 2022	$	(1,844.2)	$	(27.9)	$	(2,443.2)	$	27.6	$	(4,287.7)

Other comprehensive income (loss) before reclassifications	(165.1)		(24.9)		47.8		63.0		(79.2)
Net amount reclassified from accumulated other comprehensive loss	—		13.5		57.2		0.4		71.1
Net other comprehensive income (loss)	(165.1)		(11.4)		105.0		63.4		(8.1)

Balance at September 30, 2022	$	(2,009.3)	$	(39.3)	$	(2,338.2)	$	91.0	$	(4,295.8)



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)		Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans		Effective Portion of Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance at July 1, 2021	$	(1,516.2)	$	9.1	$	(4,569.9)	$	(210.1)	$	(6,287.1)

Other comprehensive income (loss) before reclassifications	(8.0)		(2.4)		18.6		16.8		25.0
Net amount reclassified from accumulated other comprehensive loss	—		0.1		86.0		3.3		89.4
Net other comprehensive income (loss)	(8.0)		(2.3)		104.6		20.1		114.4

Balance at September 30, 2021	$	(1,524.2)	$	6.8	$	(4,465.3)	$	(190.0)	$	(6,172.7)

The following tables summarize the activity related to each component of other comprehensive income (loss) during the nine months ended September 30, 2022 and 2021:


(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)		Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans		Effective Portion of Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance at January 1, 2022	$	(1,550.2)	$	3.7	$	(2,583.6)	$	(213.0)	$	(4,343.1)

Other comprehensive income (loss) before reclassifications	(459.7)		(55.5)		72.9		297.2		(145.1)
Net amount reclassified from accumulated other comprehensive loss	0.6		12.5		172.5		6.8		192.4
Net other comprehensive income (loss)	(459.1)		(43.0)		245.4		304.0		47.3

Balance at September 30, 2022	$	(2,009.3)	$	(39.3)	$	(2,338.2)	$	91.0	$	(4,295.8)


(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)		Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans		Effective Portion of Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance at January 1, 2021	$	(1,427.5)	$	14.8	$	(4,751.0)	$	(332.7)	$	(6,496.4)

Other comprehensive income (loss) before reclassifications	(96.7)		(8.8)		27.2		132.8		54.5
Net amount reclassified from accumulated other comprehensive loss	—		0.8		258.5		9.9		269.2
Net other comprehensive income (loss)	(96.7)		(8.0)		285.7		142.7		323.7

Balance at September 30, 2021	$	(1,524.2)	$	6.8	$	(4,465.3)	$	(190.0)	$	(6,172.7)

The tax effects on the net activity related to each component of other comprehensive income (loss) were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
Tax benefit (expense)	2022		2021		2022		2021
Foreign currency translation gains/losses	$	(133.3)	$	(39.0)	$	(234.2)	$	(92.3)
Unrealized net gains/losses on securities	3.4		0.8		13.1		3.8
Defined benefit pension and retiree health benefit plans	(22.4)		(28.2)		(73.2)		(79.7)
Effective portion of cash flow hedges	(16.9)		(5.4)		(80.8)		(37.9)
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items	$	(169.2)	$	(71.8)	$	(375.1)	$	(206.1)

Except for the tax effects of foreign currency translation gains and losses related to our foreign currency-denominated notes, cross-currency interest rate swaps, and other foreign currency exchange contracts designated as net investment hedges (see Note 6), income taxes were not provided for foreign currency translation. Generally, the assets and liabilities of foreign operations are translated into U.S. dollars using the current exchange rate. For those operations, changes in exchange rates generally do not affect cash flows; therefore, resulting translation adjustments are made in shareholders' equity rather than in the consolidated condensed statements of operations.

Reclassifications out of accumulated other comprehensive loss were as follows:


Details about Accumulated Other Comprehensive Loss Components	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Consolidated Condensed Statements of Operations

	2022		2021		2022		2021
Amortization of retirement benefit items:
Prior service benefits, net	$	(13.1)	$	(13.9)	$	(39.2)	$	(41.5)	Other–net, (income) expense
Actuarial losses, net	85.5		122.7		257.5		368.7		Other–net, (income) expense
Total before tax	72.4		108.8		218.3		327.2
Tax benefit	(15.2)		(22.8)		(45.8)		(68.7)		Income taxes
Net of tax	57.2		86.0		172.5		258.5

Other, net of tax	13.9		3.4		19.9		10.7		Other–net, (income) expense

Total reclassifications, net of tax	$	71.1	$	89.4	$	192.4	$	269.2

Other–Net, (Income) Expense

9 Months Ended

Sep. 30, 2022

Nonoperating Income (Expense) [Abstract]

Other–Net, (Income) Expense

Other–net, (income) expense consisted of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Interest expense	$	81.5	$	83.6	$	247.6	$	258.4
Interest income	(20.1)		(7.0)		(37.3)		(18.0)
Net investment (gains) losses on equity securities (Note 6)	123.3		246.8		667.6		(270.1)
Retirement benefit plans	(92.4)		(72.6)		(280.0)		(217.1)
Debt extinguishment loss (Note 6)	—		405.2		—		405.2
Other (income) expense	18.7		(20.1)		(17.0)		(34.1)
Other–net, (income) expense	$	111.0	$	635.9	$	580.9	$	124.3

Basis of Presentation and Implementation of New Financial Accounting Standard (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Research and Development Expenses and Acquired In-Process Research and Development (IPR&D) and Developmental Milestones	Research and Development Expenses and Acquired In-Process Research and Development (IPR&D) and Development Milestones Research and development costs are expensed as incurred. Research and development costs consist of expenses incurred in performing research and development activities, including but not limited to, compensation and benefits, facilities and overhead expense, clinical trial expense, and fees paid to contract research organizations. Acquired IPR&D and development milestones include the initial costs of externally developed IPR&D projects, acquired directly in a transaction other than a business combination, that do not have an alternative future use. Additionally, milestone payment obligations related to these transactions that are incurred prior to regulatory approval of the compound are expensed when the event triggering an obligation to pay the milestone occurs.
Implementation of New Financial Accounting Standard	Implementation of New Financial Accounting Standard Accounting Standards Update 2021-01, Reference Rate Reform, provides for temporary optional expedients and exceptions in applying current GAAP to contracts, hedging relationships, and other transactions affected by the transition from the use of the London Interbank Offered Rate (LIBOR) to an alternative reference rate. The standard is currently applicable to contracts entered into before January 1, 2023. We adopted the standard in the first quarter of 2022. The adoption did not have a material impact on our consolidated condensed financial statements.
Business Combinations	Under this method, the assets acquired and liabilities assumed were recorded at their respective fair values as of the acquisition date in our consolidated condensed financial statements. The determination of estimated fair value required management to make significant estimates and assumptions. The excess of the purchase price over the fair value of the acquired net assets, where applicable, has been recorded as goodwill. The results of operations of this acquisition is included in our consolidated condensed financial statements from the date of acquisition.Upon each acquisition, the cost allocated to acquired IPR&D is immediately expensed if the compound has no alternative future use. Milestone payment obligations incurred prior to regulatory approval of the compound are expensed when the event triggering an obligation to pay the milestone occurs.
Description of Derivative Risk Management	Our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets, liabilities, and transactions being hedged. Management reviews the correlation and effectiveness of our derivatives on a quarterly basis. For derivative instruments that are designated and qualify as fair value hedges, the derivative instrument is marked to market, with gains and losses recognized currently in income to offset the respective losses and gains recognized on the underlying exposure. For derivative instruments that are designated and qualify as cash flow hedges, gains and losses are reported as a component of accumulated other comprehensive loss and reclassified into earnings in the same period the hedged transaction affects earnings. For derivative and non-derivative instruments that are designated and qualify as net investment hedges, the foreign currency translation gains or losses due to spot rate fluctuations are reported as a component of accumulated other comprehensive loss. Derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized in earnings during the period of change. We may enter into foreign currency forward or option contracts to reduce the effect of fluctuating currency exchange rates (principally the euro, British pound, Chinese yuan, and Japanese yen). Foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures. Forward and option contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies. These contracts are recorded at fair value with the gain or loss recognized in other–net, (income) expense. We may enter into foreign currency forward and option contracts and currency swaps as fair value hedges of firm commitments. Forward contracts generally have maturities not exceeding 12 months.
Contingencies	Litigation accruals, environmental liabilities, and the related estimated insurance recoverables are reflected on a gross basis as liabilities and assets, respectively, on our consolidated condensed balance sheets. With respect to the product liability claims currently asserted against us, we have accrued for our estimated exposures to the extent they are both probable and reasonably estimable based on the information available to us. We accrue for certain product liability claims incurred but not filed to the extent we can formulate a reasonable estimate of their costs. We estimate these expenses based primarily on historical claims experience and data regarding product usage. Legal defense costs expected to be incurred in connection with significant product liability loss contingencies are accrued when both probable and reasonably estimable.Because of the nature of pharmaceutical products, it is possible that we could become subject to large numbers of additional product liability and related claims in the future. Due to a very restrictive market for litigation liability insurance, we are self-insured for litigation liability losses for all our currently and previously marketed products.

Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of disaggregation of revenue

The following table summarizes our revenue recognized in our consolidated condensed statements of operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net product revenue	$	6,119.2	$	6,189.0	$	19,123.0	$	18,579.5
Collaboration and other revenue(1)	822.4		583.8		2,116.6		1,739.0
Revenue	$	6,941.6	$	6,772.8	$	21,239.6	$	20,318.5

The following table summarizes revenue by product for the three months ended September 30, 2022 and 2021:


	Three Months Ended September 30,
	2022						2021
	U.S.		Outside U.S.		Total		U.S.		Outside U.S.		Total
Revenue—to unaffiliated customers:
Diabetes:
Trulicity®	$	1,418.3	$	432.0	$	1,850.4	$	1,201.4	$	398.8	$	1,600.1
Jardiance(1)	350.9		222.4		573.3		221.2		169.2		390.4
Humalog® (2)	248.1		198.8		447.0		347.3		279.4		626.7
Humulin®	169.5		68.7		238.2		193.4		93.4		286.7
Basaglar®	124.8		68.1		193.0		114.7		78.1		192.8
Mounjaro®	97.3		90.0		187.3		—		—		—
Other diabetes	79.7		94.0		173.4		65.0		112.2		177.4
Total diabetes	2,488.6		1,174.0		3,662.6		2,143.0		1,131.1		3,274.1

Oncology:
Verzenio®	414.8		202.9		617.7		199.6		135.9		335.5
Cyramza®	87.5		144.6		232.1		84.8		168.6		253.4
Erbitux®	126.3		18.7		144.9		114.0		20.3		134.3
Alimta®	64.6		54.8		119.4		297.2		159.8		457.0
Tyvyt®	—		76.8		76.8		—		125.6		125.6
Other oncology	39.5		62.8		102.4		35.3		65.1		100.3
Total oncology	732.7		560.6		1,293.3		730.9		675.3		1,406.1

Immunology:
Taltz®	493.8		186.1		679.9		422.2		170.9		593.1
Olumiant® (3)	22.9		160.0		182.9		194.0		212.9		406.9
Other immunology	—		3.6		3.6		—		4.9		4.9
Total immunology	516.7		349.7		866.4		616.2		388.7		1,004.9

Neuroscience:
Emgality®	114.0		54.6		168.5		99.9		40.1		140.0
Zyprexa®	8.0		73.4		81.4		13.0		88.7		101.7
Cymbalta®	7.8		54.9		62.7		7.0		125.1		132.0

Other neuroscience	16.0		44.5		60.6		24.7		51.6		76.5
Total neuroscience	145.8		227.4		373.2		144.6		305.5		450.2


Other:
COVID-19 antibodies(4)	386.6		—		386.6		215.5		1.6		217.1
Forteo®	112.7		64.4		177.1		109.6		91.3		200.9
Cialis®	8.1		107.7		115.7		(6.5)		137.4		130.9
Other	30.9		35.7		66.6		36.3		52.4		88.8
Total other	538.3		207.8		746.0		354.9		282.7		637.7
Revenue	$	4,422.1	$	2,519.4	$	6,941.6	$	3,989.6	$	2,783.3	$	6,772.8

Numbers may not add due to rounding.

(1) Jardiance revenue includes Glyxambi®, Synjardy®, and Trijardy® XR.

(2) Humalog revenue includes insulin lispro.

(3) Olumiant revenue includes sales for baricitinib that were made pursuant to Emergency Use Authorization (EUA) or similar regulatory authorizations.

The following table summarizes revenue by product for the nine months ended September 30, 2022 and 2021:


	Nine Months Ended September 30,
	2022						2021
	U.S.		Outside U.S.		Total		U.S.		Outside U.S.		Total
Revenue—to unaffiliated customers:
Diabetes:
Trulicity	$	4,162.4	$	1,341.1	$	5,503.5	$	3,465.7	$	1,122.5	$	4,588.2
Humalog(1)	855.8		656.4		1,512.3		1,009.0		842.3		1,851.3
Jardiance(2)	831.4		622.4		1,453.7		566.8		492.1		1,058.9
Humulin	562.3		223.1		785.4		633.5		290.3		923.8
Basaglar	339.9		218.8		558.7		423.3		226.8		650.1
Mounjaro	109.9		93.3		203.2		—		—		—
Other diabetes	195.6		276.5		472.2		185.7		302.6		488.3
Total diabetes	7,057.3		3,431.6		10,489.0		6,284.0		3,276.6		9,560.6

Oncology:
Verzenio	1,100.5		575.1		1,675.6		582.1		363.7		945.8
Cyramza	259.3		434.3		693.6		266.3		496.3		762.5
Alimta	490.5		200.5		691.1		911.9		714.7		1,626.6
Erbitux	361.0		47.4		408.3		357.7		45.9		403.7
Tyvyt	—		235.8		235.8		—		340.2		340.2
Other oncology	124.1		186.5		310.6		83.7		169.9		253.6
Total oncology	2,335.4		1,679.6		4,015.0		2,201.7		2,130.7		4,332.4

Immunology:
Taltz	1,212.6		561.6		1,774.2		1,071.6		493.8		1,565.4
Olumiant(3)	104.6		520.1		624.7		236.5		572.6		809.1
Other immunology	0.1		12.1		12.1		15.2		14.5		29.7
Total immunology	1,317.3		1,093.8		2,411.0		1,323.3		1,080.9		2,404.2

Neuroscience:
Emgality	330.8		144.4		475.2		313.5		102.2		415.7
Zyprexa	26.2		235.5		261.7		28.3		264.5		292.8
Cymbalta	25.0		194.3		219.3		30.3		454.0		484.3

Other neuroscience	62.0		142.7		204.7		81.0		154.0		235.0
Total neuroscience	444.0		716.9		1,160.9		453.1		974.7		1,427.8

Other:
COVID-19 antibodies(4)	1,970.9		14.7		1,985.5		949.5		226.7		1,176.2
Cialis	25.8		454.7		480.4		(3.1)		541.8		538.7
Forteo	261.4		191.7		453.0		330.1		287.7		617.8
Other	119.4		125.1		244.8		96.5		164.3		260.8
Total other	2,377.5		786.2		3,163.7		1,373.0		1,220.5		2,593.5
Revenue	$	13,531.5	$	7,708.1	$	21,239.6	$	11,635.1	$	8,683.4	$	20,318.5

Numbers may not add due to rounding.

(1) Humalog revenue includes insulin lispro.

(2) Jardiance revenue includes Glyxambi, Synjardy, and Trijardy XR.

(3) Olumiant revenue includes sales for baricitinib that were made pursuant to EUA or similar regulatory authorizations.

The following table summarizes revenue by geographical area:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Revenue—to unaffiliated customers(1):
U.S.	$	4,422.1	$	3,989.6	$	13,531.5	$	11,635.1
Europe	1,056.4		1,098.6		3,224.8		3,629.6
Japan	487.7		595.0		1,352.3		1,832.2
China	343.4		400.3		1,102.0		1,285.0
Other foreign countries	632.0		689.4		2,029.1		1,936.7
Revenue	$	6,941.6	$	6,772.8	$	21,239.6	$	20,318.5

Numbers may not add due to rounding.

(1) Revenue is attributed to the countries based on the location of the customer.

Schedule of amounts recorded for contract liabilities

The following table summarizes contract liability balances:


	September 30, 2022		December 31, 2021
Contract liabilities	$	232.5	$	262.6

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of the amounts recognized for assets acquired and liabilities assumed

The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date:


Estimated Fair Value at January 22, 2021
Cash	$	90.5
Acquired IPR&D(1)	824.0
Goodwill(2)	126.8
Deferred tax liabilities	(106.0)
Other assets and liabilities, net	(31.5)
Acquisition date fair value of consideration transferred	903.8
Less:
Cash acquired	(90.5)
Fair value of CVR liability(3)	(65.9)
Cash paid, net of cash acquired	$	747.4

(1) Acquired IPR&D intangibles primarily relate to PR001. In the third quarter of 2022, we impaired the intangible asset related to PR001. See Note 5 for additional information.

(2) The goodwill recognized from this acquisition is not deductible for tax purposes.

(3) See Note 6 for a discussion on the estimation of the CVR liability.

Schedule of asset acquisitions

The following table summarizes our significant asset acquisitions during the nine months ended September 30, 2022 and 2021:

Counterparty

Compound(s), Therapy or Asset

Acquisition Month

Phase of Development(1)

Acquired IPR&D Expense

BioMarin Pharmaceutical Inc.

Priority Review Voucher

February 2022

Not applicable

110.0

Rigel Pharmaceuticals, Inc.

R552, a receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitor, for the potential treatment of autoimmune and inflammatory diseases

March 2021

Phase I

125.0

Precision Biosciences, Inc.

Potential in vivo therapies for genetic disorders

January 2021

Pre-clinical

107.8

(1) The phase of development presented is as of the date of the arrangement and represents the phase of development of the most advanced asset acquired, where applicable.

Collaborations and Other Arrangements (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of significant milestones and revenue recognized

The table below summarizes the net milestones capitalized with respect to the Jardiance and Trajenta families of products and the net milestones deferred with respect to Basaglar as of September 30, 2022 and December 31, 2021:


	Net Milestones Capitalized (Deferred)(1)
	September 30, 2022		December 31, 2021
Jardiance	$	121.2	$	136.1
Trajenta	69.6		88.5
Basaglar	(135.3)		(149.3)

(1) This represents the amounts that have been capitalized (deferred) from the start of this collaboration through the end of the reporting period, net of amount amortized.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Jardiance	$	573.3	$	390.4	$	1,453.7	$	1,058.9
Basaglar	193.0		192.8		558.7		650.1
Trajenta	103.8		96.1		293.0		279.9

The following table summarizes our net product revenue recognized with respect to Olumiant:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Olumiant	$	182.9	$	406.9	$	624.7	$	809.1

The following table summarizes our revenue recognized in China with respect to Tyvyt:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Tyvyt	$	76.8	$	125.6	$	235.8	$	340.2

Asset Impairment, Restructuring, and Other Special Charges (Tables)

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

Schedule of components of the charges included in asset impairment, restructuring, and other special charges

The components of the charges included in asset impairment, restructuring, and other special charges in our consolidated condensed statements of operations are described below.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Severance	$	—	$	—	$	—	$	11.5
Asset impairment and other special charges	206.5		—		206.5		200.1
Total asset impairment, restructuring, and other special charges	$	206.5	$	—	$	206.5	$	211.6

Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of effects of risk-management instruments were recognized in other–net, (income) expense

The following effects of risk-management instruments were recognized in other–net, (income) expense:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Fair value hedges:
Effect from hedged fixed-rate debt	$	(62.9)	$	(10.1)	$	(215.7)	$	(60.5)
Effect from interest rate contracts	62.9		10.1		215.7		60.5
Cash flow hedges:
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss	4.1		4.2		12.3		12.5
Cross-currency interest rate swaps	33.1		10.0		75.0		58.1
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments	129.6		50.8		280.7		110.6
Total	$	166.8	$	65.0	$	368.0	$	181.2

Schedule of effective portion of risk-management instruments that was recognized in other comprehensive income (loss), net investment hedges

The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net investment hedges:
Foreign currency-denominated notes	$	435.1	$	119.0	$	822.8	$	268.8
Cross-currency interest rate swaps	92.1		66.7		171.4		170.8
Foreign currency forward contracts	107.8		—		121.4		—
Cash flow hedges:
Forward-starting interest rate swaps	57.5		19.4		337.7		149.3
Cross-currency interest rate swaps	19.9		3.1		38.4		22.5

Schedule of effective portion of risk-management instruments that was recognized in other comprehensive income (loss), cash flow hedges

The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net investment hedges:
Foreign currency-denominated notes	$	435.1	$	119.0	$	822.8	$	268.8
Cross-currency interest rate swaps	92.1		66.7		171.4		170.8
Foreign currency forward contracts	107.8		—		121.4		—
Cash flow hedges:
Forward-starting interest rate swaps	57.5		19.4		337.7		149.3
Cross-currency interest rate swaps	19.9		3.1		38.4		22.5

Summary certain fair value information, assets


					Fair Value Measurements Using
	Carrying Amount		Cost(1)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
September 30, 2022
Cash equivalents	$	1,246.8	$	1,246.8	$	1,239.2	$	7.6	$	—	$	1,246.8

Short-term investments:
U.S. government and agency securities	$	43.0	$	43.5	$	43.0	$	—	$	—	$	43.0
Corporate debt securities	51.7		51.8		—		51.7		—		51.7

Asset-backed securities	3.0		3.0		—		3.0		—		3.0
Other securities	27.0		27.0		—		14.8		12.2		27.0

Short-term investments	$	124.7

Noncurrent investments:
U.S. government and agency securities	$	131.4	$	148.3	$	131.4	$	—	$	—	$	131.4

Corporate debt securities	206.4		232.5		—		206.4		—		206.4
Mortgage-backed securities	143.1		156.1		—		143.1		—		143.1
Asset-backed securities	43.6		45.5		—		43.6		—		43.6
Other securities	152.5		96.3		—		39.5		113.0		152.5
Marketable equity securities	549.1		416.1		549.1		—		—		549.1
Equity investments without readily determinable fair values(2)	583.7
Equity method investments(2)	764.8
Noncurrent investments	$	2,574.6

December 31, 2021
Cash equivalents	$	2,379.5	$	2,379.5	$	2,361.0	$	18.5	$	—	$	2,379.5

Short-term investments:
U.S. government and agency securities	$	25.7	$	25.6	$	25.7	$	—	$	—	$	25.7
Corporate debt securities	43.7		43.7		—		43.7		—		43.7
Mortgage-backed securities	0.2		0.2		—		0.2		—		0.2
Asset-backed securities	6.2		6.2		—		6.2		—		6.2
Other securities	14.3		14.3		—		—		14.3		14.3

Short-term investments	$	90.1

Noncurrent investments:
U.S. government and agency securities	$	137.0	$	136.8	$	137.0	$	—	$	—	$	137.0
Corporate debt securities	235.3		232.7		—		235.3		—		235.3
Mortgage-backed securities	109.8		108.1		—		109.8		—		109.8
Asset-backed securities	23.1		23.1		—		23.1		—		23.1
Other securities	108.1		22.2		—		—		108.1		108.1
Marketable equity securities	1,279.7		487.0		1,279.7		—		—		1,279.7
Equity investments without readily determinable fair values(2)	548.1
Equity method investments(2)	771.5
Noncurrent investments	$	3,212.6

(1) For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.

(2) Fair value disclosures are not applicable for equity method investments and investments accounted for under the measurement alternative for equity investments.

Summary certain fair value information, liabilities


			Fair Value Measurements Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Short-term commercial paper borrowings
September 30, 2022	$	(1,741.3)	$	—	$	(1,738.0)	$	—	$	(1,738.0)
December 31, 2021	—		—		—		—		—
Long-term debt, including current portion
September 30, 2022	$	(14,147.1)	$	—	$	(11,848.6)	$	—	$	(11,848.6)
December 31, 2021	(16,884.7)		—		(18,157.7)		—		(18,157.7)

Schedule of fair value, by balance sheet grouping


			Fair Value Measurements Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
September 30, 2022
Risk-management instruments:
Interest rate contracts designated as fair value hedges:



Other noncurrent liabilities	$	(140.2)	$	—	$	(140.2)	$	—	$	(140.2)


Interest rate contracts designated as cash flow hedges:
Other noncurrent assets	355.2		—		355.2		—		355.2

Cross-currency interest rate contracts designated as net investment hedges:
Other receivables	81.6		—		81.6		—		81.6
Other noncurrent assets	116.9		—		116.9		—		116.9


Cross-currency interest rate contracts designated as cash flow hedges:
Other noncurrent assets	8.3		—		8.3		—		8.3
Other noncurrent liabilities	(12.9)		—		(12.9)		—		(12.9)
Foreign exchange contracts designated as net investment hedges:
Other receivables	108.2		—		108.2		—		108.2
Other current liabilities	(2.9)		—		(2.9)		—		(2.9)
Foreign exchange contracts not designated as hedging instruments:
Other receivables	48.1		—		48.1		—		48.1
Other current liabilities	(93.5)		—		(93.5)		—		(93.5)


Contingent consideration liability:

Other noncurrent liabilities	(42.1)		—		—		(42.1)		(42.1)

December 31, 2021
Risk-management instruments:
Interest rate contracts designated as fair value hedges:
Other receivables	$	4.8	$	—	$	4.8	$	—	$	4.8
Other noncurrent assets	78.3		—		78.3		—		78.3

Other noncurrent liabilities	(7.6)		—		(7.6)		—		(7.6)
Interest rate contracts designated as cash flow hedges:
Other noncurrent assets	49.2		—		49.2		—		49.2
Other noncurrent liabilities	(31.7)		—		(31.7)		—		(31.7)
Cross-currency interest rate contracts designated as net investment hedges:

Other noncurrent assets	31.3		—		31.3		—		31.3
Other current liabilities	(1.2)		—		(1.2)		—		(1.2)

Cross-currency interest rate contracts designated as cash flow hedges:
Other noncurrent assets	33.2		—		33.2		—		33.2
Other noncurrent liabilities	(1.3)		—		(1.3)		—		(1.3)
Foreign exchange contracts not designated as hedging instruments:
Other receivables	9.9		—		9.9		—		9.9
Other current liabilities	(35.3)		—		(35.3)		—		(35.3)
Contingent consideration liabilities:

Other noncurrent liabilities	(70.5)		—		—		(70.5)		(70.5)

Summary the contractual maturities of our investments in debt securities measured at fair value

The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of September 30, 2022:


	Maturities by Period
	Total		Less Than 1 Year		1-5 Years		6-10 Years		More Than 10 Years
Fair value of debt securities	$	622.2	$	97.7	$	197.8	$	121.0	$	205.7

Summary of the fair value of available-for-sale securities in an unrealized gain or loss position

A summary of the amount of unrealized gains and losses in accumulated other comprehensive loss and the fair value of available-for-sale securities in an unrealized gain or loss position follows:


	September 30, 2022		December 31, 2021
Unrealized gross gains	$	0.1	$	9.7
Unrealized gross losses	51.6		5.2
Fair value of securities in an unrealized gain position	13.8		250.7
Fair value of securities in an unrealized loss position	578.8		290.2

Schedule of activity related to our available-for-sale securities

Activity related to our available-for-sale securities was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Proceeds from sales	$	50.5	$	49.6	$	115.6	$	137.3
Realized gross gains on sales	—		0.4		0.2		2.2
Realized gross losses on sales	7.5		0.3		9.0		1.1

Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2022

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Schedule of net pension and retiree health benefit (income) cost

Net pension and retiree health benefit (income) cost included the following components:


	Defined Benefit Pension Plans
	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Components of net periodic benefit cost:
Service cost	$	87.1	$	92.5	$	264.4	$	277.8
Interest cost	98.9		84.5		299.0		253.6
Expected return on plan assets	(235.1)		(237.5)		(711.6)		(712.7)
Amortization of prior service cost	0.6		1.0		1.9		3.2
Recognized actuarial loss	85.3		121.9		256.8		366.3

Net periodic benefit cost	$	36.8	$	62.4	$	110.5	$	188.2


	Retiree Health Benefit Plans
	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Components of net periodic benefit income:
Service cost	$	11.7	$	12.4	$	35.0	$	37.0
Interest cost	9.4		8.1		28.4		24.4
Expected return on plan assets	(38.0)		(36.5)		(114.1)		(109.6)
Amortization of prior service benefit	(13.7)		(14.9)		(41.1)		(44.7)
Recognized actuarial loss	0.2		0.8		0.7		2.4

Net periodic benefit income	$	(30.4)	$	(30.1)	$	(91.1)	$	(90.5)

Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2022

Statement of Comprehensive Income [Abstract]

Schedule of components of other comprehensive income (loss)

The following tables summarize the activity related to each component of other comprehensive income (loss) during the three months ended September 30, 2022 and 2021:



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)		Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans		Effective Portion of Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance at July 1, 2022	$	(1,844.2)	$	(27.9)	$	(2,443.2)	$	27.6	$	(4,287.7)

Other comprehensive income (loss) before reclassifications	(165.1)		(24.9)		47.8		63.0		(79.2)
Net amount reclassified from accumulated other comprehensive loss	—		13.5		57.2		0.4		71.1
Net other comprehensive income (loss)	(165.1)		(11.4)		105.0		63.4		(8.1)

Balance at September 30, 2022	$	(2,009.3)	$	(39.3)	$	(2,338.2)	$	91.0	$	(4,295.8)



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)		Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans		Effective Portion of Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance at July 1, 2021	$	(1,516.2)	$	9.1	$	(4,569.9)	$	(210.1)	$	(6,287.1)

Other comprehensive income (loss) before reclassifications	(8.0)		(2.4)		18.6		16.8		25.0
Net amount reclassified from accumulated other comprehensive loss	—		0.1		86.0		3.3		89.4
Net other comprehensive income (loss)	(8.0)		(2.3)		104.6		20.1		114.4

Balance at September 30, 2021	$	(1,524.2)	$	6.8	$	(4,465.3)	$	(190.0)	$	(6,172.7)

The following tables summarize the activity related to each component of other comprehensive income (loss) during the nine months ended September 30, 2022 and 2021:


(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)		Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans		Effective Portion of Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance at January 1, 2022	$	(1,550.2)	$	3.7	$	(2,583.6)	$	(213.0)	$	(4,343.1)

Other comprehensive income (loss) before reclassifications	(459.7)		(55.5)		72.9		297.2		(145.1)
Net amount reclassified from accumulated other comprehensive loss	0.6		12.5		172.5		6.8		192.4
Net other comprehensive income (loss)	(459.1)		(43.0)		245.4		304.0		47.3

Balance at September 30, 2022	$	(2,009.3)	$	(39.3)	$	(2,338.2)	$	91.0	$	(4,295.8)


(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)		Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans		Effective Portion of Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance at January 1, 2021	$	(1,427.5)	$	14.8	$	(4,751.0)	$	(332.7)	$	(6,496.4)

Other comprehensive income (loss) before reclassifications	(96.7)		(8.8)		27.2		132.8		54.5
Net amount reclassified from accumulated other comprehensive loss	—		0.8		258.5		9.9		269.2
Net other comprehensive income (loss)	(96.7)		(8.0)		285.7		142.7		323.7

Balance at September 30, 2021	$	(1,524.2)	$	6.8	$	(4,465.3)	$	(190.0)	$	(6,172.7)

The tax effects on the net activity related to each component of other comprehensive income (loss) were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
Tax benefit (expense)	2022		2021		2022		2021
Foreign currency translation gains/losses	$	(133.3)	$	(39.0)	$	(234.2)	$	(92.3)
Unrealized net gains/losses on securities	3.4		0.8		13.1		3.8
Defined benefit pension and retiree health benefit plans	(22.4)		(28.2)		(73.2)		(79.7)
Effective portion of cash flow hedges	(16.9)		(5.4)		(80.8)		(37.9)
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items	$	(169.2)	$	(71.8)	$	(375.1)	$	(206.1)

Schedule of reclassifications out of accumulated other comprehensive loss

Reclassifications out of accumulated other comprehensive loss were as follows:


Details about Accumulated Other Comprehensive Loss Components	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Consolidated Condensed Statements of Operations

	2022		2021		2022		2021
Amortization of retirement benefit items:
Prior service benefits, net	$	(13.1)	$	(13.9)	$	(39.2)	$	(41.5)	Other–net, (income) expense
Actuarial losses, net	85.5		122.7		257.5		368.7		Other–net, (income) expense
Total before tax	72.4		108.8		218.3		327.2
Tax benefit	(15.2)		(22.8)		(45.8)		(68.7)		Income taxes
Net of tax	57.2		86.0		172.5		258.5

Other, net of tax	13.9		3.4		19.9		10.7		Other–net, (income) expense

Total reclassifications, net of tax	$	71.1	$	89.4	$	192.4	$	269.2

Other–Net, (Income) Expense (Tables)

9 Months Ended

Sep. 30, 2022

Nonoperating Income (Expense) [Abstract]

Schedule of other–net, (income) expense

Other–net, (income) expense consisted of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Interest expense	$	81.5	$	83.6	$	247.6	$	258.4
Interest income	(20.1)		(7.0)		(37.3)		(18.0)
Net investment (gains) losses on equity securities (Note 6)	123.3		246.8		667.6		(270.1)
Retirement benefit plans	(92.4)		(72.6)		(280.0)		(217.1)
Debt extinguishment loss (Note 6)	—		405.2		—		405.2
Other (income) expense	18.7		(20.1)		(17.0)		(34.1)
Other–net, (income) expense	$	111.0	$	635.9	$	580.9	$	124.3

Revenue (Summary of Revenue Recognized) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 6,941.6	$ 6,772.8	$ 21,239.6	$ 20,318.5
Net product revenue
Disaggregation of Revenue [Line Items]
Revenue	6,119.2	6,189.0	19,123.0	18,579.5
Collaboration and other revenue
Disaggregation of Revenue [Line Items]
Revenue	822.4	583.8	2,116.6	1,739.0
Collaboration and other revenue associated with prior period transfers of intellectual property
Disaggregation of Revenue [Line Items]
Revenue	$ 43.3	$ 62.1	$ 130.9	$ 136.1

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
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-Subparagraph (SX 210.13-02(a)(4)(i))
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-03(1))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

Revenue (Adjustments to Revenue) (Details)	3 Months Ended		9 Months Ended
Revenue (Adjustments to Revenue) (Details)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
U.S. \| Sales returns, rebates, and discounts
Change in Accounting Estimate [Line Items]
Revenue, information used to determine revenue recognized, change in accounting estimate, percent (less than)	3.00%	1.00%	1.00%	1.00%

Revenue (Contract Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 232.5	$ 262.6

Revenue (Disaggregation of Revenue by Product) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 6,941.6	$ 6,772.8	$ 21,239.6	$ 20,318.5
U.S.
Disaggregation of Revenue [Line Items]
Revenue	4,422.1	3,989.6	13,531.5	11,635.1
Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	2,519.4	2,783.3	7,708.1	8,683.4
Diabetes
Disaggregation of Revenue [Line Items]
Revenue	3,662.6	3,274.1	10,489.0	9,560.6
Diabetes \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	2,488.6	2,143.0	7,057.3	6,284.0
Diabetes \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	1,174.0	1,131.1	3,431.6	3,276.6
Trulicity®
Disaggregation of Revenue [Line Items]
Revenue	1,850.4	1,600.1	5,503.5	4,588.2
Trulicity® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	1,418.3	1,201.4	4,162.4	3,465.7
Trulicity® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	432.0	398.8	1,341.1	1,122.5
Jardiance
Disaggregation of Revenue [Line Items]
Revenue	573.3	390.4	1,453.7	1,058.9
Jardiance \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	350.9	221.2	831.4	566.8
Jardiance \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	222.4	169.2	622.4	492.1
Humalog®
Disaggregation of Revenue [Line Items]
Revenue	447.0	626.7	1,512.3	1,851.3
Humalog® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	248.1	347.3	855.8	1,009.0
Humalog® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	198.8	279.4	656.4	842.3
Humulin®
Disaggregation of Revenue [Line Items]
Revenue	238.2	286.7	785.4	923.8
Humulin® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	169.5	193.4	562.3	633.5
Humulin® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	68.7	93.4	223.1	290.3
Basaglar®
Disaggregation of Revenue [Line Items]
Revenue	193.0	192.8	558.7	650.1
Basaglar® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	124.8	114.7	339.9	423.3
Basaglar® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	68.1	78.1	218.8	226.8
Mounjaro®
Disaggregation of Revenue [Line Items]
Revenue	187.3	0.0	203.2	0.0
Mounjaro® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	97.3	0.0	109.9	0.0
Mounjaro® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	90.0	0.0	93.3	0.0
Other diabetes
Disaggregation of Revenue [Line Items]
Revenue	173.4	177.4	472.2	488.3
Other diabetes \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	79.7	65.0	195.6	185.7
Other diabetes \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	94.0	112.2	276.5	302.6
Oncology
Disaggregation of Revenue [Line Items]
Revenue	1,293.3	1,406.1	4,015.0	4,332.4
Oncology \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	732.7	730.9	2,335.4	2,201.7
Oncology \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	560.6	675.3	1,679.6	2,130.7
Verzenio®
Disaggregation of Revenue [Line Items]
Revenue	617.7	335.5	1,675.6	945.8
Verzenio® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	414.8	199.6	1,100.5	582.1
Verzenio® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	202.9	135.9	575.1	363.7
Cyramza®
Disaggregation of Revenue [Line Items]
Revenue	232.1	253.4	693.6	762.5
Cyramza® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	87.5	84.8	259.3	266.3
Cyramza® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	144.6	168.6	434.3	496.3
Erbitux®
Disaggregation of Revenue [Line Items]
Revenue	144.9	134.3	408.3	403.7
Erbitux® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	126.3	114.0	361.0	357.7
Erbitux® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	18.7	20.3	47.4	45.9
Alimta®
Disaggregation of Revenue [Line Items]
Revenue	119.4	457.0	691.1	1,626.6
Alimta® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	64.6	297.2	490.5	911.9
Alimta® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	54.8	159.8	200.5	714.7
Tyvyt®
Disaggregation of Revenue [Line Items]
Revenue	76.8	125.6	235.8	340.2
Tyvyt® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Tyvyt® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	76.8	125.6	235.8	340.2
Other oncology
Disaggregation of Revenue [Line Items]
Revenue	102.4	100.3	310.6	253.6
Other oncology \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	39.5	35.3	124.1	83.7
Other oncology \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	62.8	65.1	186.5	169.9
Immunology
Disaggregation of Revenue [Line Items]
Revenue	866.4	1,004.9	2,411.0	2,404.2
Immunology \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	516.7	616.2	1,317.3	1,323.3
Immunology \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	349.7	388.7	1,093.8	1,080.9
Taltz®
Disaggregation of Revenue [Line Items]
Revenue	679.9	593.1	1,774.2	1,565.4
Taltz® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	493.8	422.2	1,212.6	1,071.6
Taltz® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	186.1	170.9	561.6	493.8
Olumiant®
Disaggregation of Revenue [Line Items]
Revenue	182.9	406.9	624.7	809.1
Olumiant® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	22.9	194.0	104.6	236.5
Olumiant® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	160.0	212.9	520.1	572.6
Other immunology
Disaggregation of Revenue [Line Items]
Revenue	3.6	4.9	12.1	29.7
Other immunology \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.1	15.2
Other immunology \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	3.6	4.9	12.1	14.5
Neuroscience
Disaggregation of Revenue [Line Items]
Revenue	373.2	450.2	1,160.9	1,427.8
Neuroscience \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	145.8	144.6	444.0	453.1
Neuroscience \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	227.4	305.5	716.9	974.7
Emgality®
Disaggregation of Revenue [Line Items]
Revenue	168.5	140.0	475.2	415.7
Emgality® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	114.0	99.9	330.8	313.5
Emgality® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	54.6	40.1	144.4	102.2
Zyprexa®
Disaggregation of Revenue [Line Items]
Revenue	81.4	101.7	261.7	292.8
Zyprexa® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	8.0	13.0	26.2	28.3
Zyprexa® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	73.4	88.7	235.5	264.5
Cymbalta®
Disaggregation of Revenue [Line Items]
Revenue	62.7	132.0	219.3	484.3
Cymbalta® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	7.8	7.0	25.0	30.3
Cymbalta® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	54.9	125.1	194.3	454.0
Other neuroscience
Disaggregation of Revenue [Line Items]
Revenue	60.6	76.5	204.7	235.0
Other neuroscience \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	16.0	24.7	62.0	81.0
Other neuroscience \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	44.5	51.6	142.7	154.0
Other
Disaggregation of Revenue [Line Items]
Revenue	746.0	637.7	3,163.7	2,593.5
Other \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	538.3	354.9	2,377.5	1,373.0
Other \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	207.8	282.7	786.2	1,220.5
COVID-19 antibodies
Disaggregation of Revenue [Line Items]
Revenue	386.6	217.1	1,985.5	1,176.2
COVID-19 antibodies \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	386.6	215.5	1,970.9	949.5
COVID-19 antibodies \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	0.0	1.6	14.7	226.7
Forteo®
Disaggregation of Revenue [Line Items]
Revenue	177.1	200.9	453.0	617.8
Forteo® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	112.7	109.6	261.4	330.1
Forteo® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	64.4	91.3	191.7	287.7
Cialis®
Disaggregation of Revenue [Line Items]
Revenue	115.7	130.9	480.4	538.7
Cialis® \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	8.1	(6.5)	25.8	(3.1)
Cialis® \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	107.7	137.4	454.7	541.8
Other
Disaggregation of Revenue [Line Items]
Revenue	66.6	88.8	244.8	260.8
Other \| U.S.
Disaggregation of Revenue [Line Items]
Revenue	30.9	36.3	119.4	96.5
Other \| Outside U.S.
Disaggregation of Revenue [Line Items]
Revenue	$ 35.7	$ 52.4	$ 125.1	$ 164.3

Revenue (Disaggregation of Revenue by Geographical Area) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 6,941.6	$ 6,772.8	$ 21,239.6	$ 20,318.5
U.S.
Disaggregation of Revenue [Line Items]
Revenue	4,422.1	3,989.6	13,531.5	11,635.1
Europe
Disaggregation of Revenue [Line Items]
Revenue	1,056.4	1,098.6	3,224.8	3,629.6
Japan
Disaggregation of Revenue [Line Items]
Revenue	487.7	595.0	1,352.3	1,832.2
China
Disaggregation of Revenue [Line Items]
Revenue	343.4	400.3	1,102.0	1,285.0
Other foreign countries
Disaggregation of Revenue [Line Items]
Revenue	$ 632.0	$ 689.4	$ 2,029.1	$ 1,936.7

- Definition

+ References

+ Details

Acquisitions (Narrative) (Details) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	Jan. 31, 2021 USD ($) right $ / shares	Dec. 31, 2022 USD ($) right $ / shares	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Business Acquisition [Line Items]
Acquired in-process research and development and development milestones			$ 62.4	$ 177.6	$ 668.4	$ 532.4
Cash paid, net of cash acquired					0.0	$ 747.4
Acquired IPR&D Expense					$ 333.8
Prevail Therapeutics Inc.
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share) \| $ / shares	$ 22.50
Cash paid, net of cash acquired	$ 747.4
Consideration transferred, number of contingent value rights \| right	1
Contingent value right, additional price per share (up to) (in dollars per share) \| $ / shares	$ 4.00
Contingent value right, additional price per share, aggregate amount	$ 160.0
Contingent value right, monthly reduction (in cents per share) \| $ / shares	$ 0.083
Akouos Acquisition \| Forecast
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share) \| $ / shares		$ 12.50
Consideration transferred, number of contingent value rights \| right		1
Contingent value right, additional price per share (up to) (in dollars per share) \| $ / shares		$ 3.00
Contingent value right, additional price per share, aggregate amount		$ 123.0
Payments to acquire businesses		$ 487.0

Acquisitions (Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions		1 Months Ended	9 Months Ended
	Jan. 22, 2021	Jan. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 3,891.6		$ 3,892.0
Cash paid, net of cash acquired			$ 0.0	$ 747.4
Prevail Therapeutics Inc.
Business Acquisition [Line Items]
Cash	$ 90.5
Acquired IPR&D	824.0
Goodwill	126.8
Deferred tax liabilities	(106.0)
Other assets and liabilities, net	(31.5)
Acquisition date fair value of consideration transferred	903.8
Cash acquired	(90.5)
Fair value of CVR liability	$ (65.9)
Cash paid, net of cash acquired		$ 747.4

Acquisitions (Asset Acquisitions) (Details) - USD ($) $ in Millions	1 Months Ended			9 Months Ended
	Feb. 28, 2022	Mar. 31, 2021	Jan. 31, 2021	Sep. 30, 2022
Business Acquisition [Line Items]
Acquired IPR&D Expense				$ 333.8
BioMarin Pharmaceutical Inc.
Business Acquisition [Line Items]
Acquired IPR&D Expense	$ 110.0
Rigel Pharmaceuticals, Inc.
Business Acquisition [Line Items]
Acquired IPR&D Expense		$ 125.0
Precision Biosciences, Inc.
Business Acquisition [Line Items]
Acquired IPR&D Expense			$ 107.8

Collaborations and Other Arrangements (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 6,941,600,000	$ 6,772,800,000	$ 21,239,600,000	$ 20,318,500,000
Remaining contract liabilities	232,500,000		232,500,000		$ 262,600,000
Jardiance
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	573,300,000	390,400,000	1,453,700,000	1,058,900,000
Basaglar
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	193,000,000.0	192,800,000	558,700,000	650,100,000
Trajenta
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	103,800,000	96,100,000	293,000,000.0	279,900,000
Olumiant®
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	182,900,000	406,900,000	624,700,000	809,100,000
COVID-19 antibodies
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	386,600,000	217,100,000	1,985,500,000	1,176,200,000
Tyvyt®
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	76,800,000	$ 125,600,000	235,800,000	$ 340,200,000
Lebrikizumab
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Remaining contract liabilities	0		0
Milestone Payments, Development and Regulatory, Capitalized (Deferred), Cumulative \| Jardiance
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	121,200,000		121,200,000		136,100,000
Milestone Payments, Development and Regulatory, Capitalized (Deferred), Cumulative \| Basaglar
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	(135,300,000)		(135,300,000)		(149,300,000)
Milestone Payments, Development and Regulatory, Capitalized (Deferred), Cumulative \| Trajenta
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	69,600,000		$ 69,600,000		88,500,000
Royalty Agreement Terms \| Olumiant®
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement, rights and obligations, percentage (up to)			20.00%
Milestone Payments, Capitalized as Intangible Assets \| Olumiant®
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	330,000,000		$ 330,000,000		260,000,000
Milestone Payments, Capitalized as Intangible Assets \| Tyvyt®
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	120,000,000		120,000,000		$ 40,000,000
Milestone Payments, Sales-based \| Olumiant®
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	100,000,000		100,000,000
Milestone Payments, Sales-based \| Lebrikizumab
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	1,250,000,000		1,250,000,000
Milestone Payments, Sales-based \| Lebrikizumab \| Roche
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	1,030,000,000.00		1,030,000,000.00
Milestone Payments, Success-based Regulatory and Sales-based \| Tyvyt® \| Innovent Biologics, Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	115,000,000		115,000,000
Milestone Payments, Development and Regulatory \| Lebrikizumab
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	85,000,000		85,000,000
Milestone Payments, Development and Regulatory \| Lebrikizumab \| Roche
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	$ 180,000,000		$ 180,000,000

Asset Impairment, Restructuring, and Other Special Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Severance	$ 0.0	$ 0.0	$ 0.0	$ 11.5
Asset impairment and other special charges	206.5	0.0	206.5	200.1
Total asset impairment, restructuring, and other special charges	$ 206.5	$ 0.0	$ 206.5	211.6
Intangible asset impairment				108.1
Inventory write-down				$ 435.1

Financial Instruments (Narrative) (Details) ¥ in Millions, ¥ in Millions, $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 15, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 EUR (€)	Sep. 30, 2022 CNY (¥)	Sep. 30, 2022 JPY (¥)	Sep. 30, 2022 GBP (£)	Sep. 14, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 EUR (€)	Sep. 30, 2021 GBP (£)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum remaining maturity of foreign currency derivatives					180 days
Derivatives used in net investment hedge, net of tax			$ 4,940.0		$ 4,940.0							$ 5,790.0
Percentage of long-term fixed-rate notes to floating rates through the use of interest rate swaps converted			10.00%		10.00%		10.00%	10.00%	10.00%	10.00%
Loss on extinguishment of debt			$ 0.0	$ 405.2	$ 0.0	$ 405.2
Pretax net losses on cash flow hedges expected to be reclassified during the next 12 months			16.7		16.7
Alternative investments, unfunded commitments			854.0		$ 854.0
Alternative investments, unfunded commitments, payment period					10 years
Equity securities, net unrealized gains (losses)			(123.3)	$ (246.8)	$ (667.6)	$ 270.1
Available-for-sale, percentage of nonperforming assets					95.00%
Amount of receivable derecognized			356.8		$ 356.8							550.5
Maturity Date 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, term	364 days
Line of credit facility, maximum borrowing capacity	$ 4,000.0										$ 2,000.0
Foreign Currency Denominated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, including current portion			6,230.0		6,230.0							$ 7,900.0
Payment for debt extinguishment		$ 1,910.0
Extinguishment of debt, amount		1,500.0
Loss on extinguishment of debt		405.2
Foreign Currency Denominated Debt \| 0.50% Notes Due 2033
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, face amount \| €													€ 600,000,000
Stated interest rate													50.00%	50.00%
Foreign Currency Denominated Debt \| 1.125% Notes due 2051
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, face amount \| €													€ 500,000,000
Stated interest rate													112.50%	112.50%
Foreign Currency Denominated Debt \| 1.375% Notes due 2061
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, face amount \| €													€ 700,000,000
Stated interest rate													137.50%	137.50%
Foreign Currency Denominated Debt \| 1.625% Notes due 2043
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, face amount \| £														£ 250,000,000
Stated interest rate													162.50%	162.50%
Foreign Currency Denominated Debt \| 3.95% Notes Due 2049
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate													395.00%	395.00%
Extinguishment of debt, amount		541.8
Foreign Currency Denominated Debt \| 4.15% Notes Due 2059
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate													415.00%	415.00%
Extinguishment of debt, amount		408.7
Foreign Currency Denominated Debt \| 3.375% Notes Due 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate													337.50%	337.50%
Extinguishment of debt, amount		$ 219.4
Buy U.S. Dollars Sell Euros
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, notional amount			1,690.0		1,690.0
Derivative asset, notional amount \| €							€ 1,710,000,000
Buy Euros Sell U.S. Dollars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, notional amount \| €							2,240,000,000
Derivative asset, notional amount			2,240.0		2,240.0
Buy US Dollar Sell Chinese Yuan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, notional amount			239.5		239.5
Derivative asset, notional amount \| ¥								¥ 1,630
Buy U.S. Dollars Sell Japanese Yen
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, notional amount			82.1		82.1
Derivative asset, notional amount \| ¥									¥ 11,860
Buy British Pounds and Sell U.S. Dollars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, notional amount \| £										£ 182,100,000
Derivative asset, notional amount			206.9		206.9
Swap U.S. Dollars to Euro
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount			1,560.0		1,560.0
Swap Swiss Francs to U.S. Dollars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount			1,000.0		1,000.0
Sell Euro
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, notional amount \| €							€ 1,340,000,000
Forward-starting interest rate swaps \| Designated as Hedging Instrument \| Cash Flow Hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount			$ 1,750.0		$ 1,750.0

Financial Instruments (Effect of Risk-Management Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Cash flow hedges:
Total	$ 166.8	$ 65.0	$ 368.0	$ 181.2
Foreign currency-denominated notes
Cash flow hedges:
Effective portion of risk-management instruments that was recognized in other comprehensive income (loss), net investment hedges	435.1	119.0	822.8	268.8
Cross-currency interest rate swaps
Cash flow hedges:
Effective portion of risk-management instruments that was recognized in other comprehensive income (loss), net investment hedges	92.1	66.7	171.4	170.8
Effective portion of risk-management instruments that was recognized in other comprehensive income (loss), cash flow hedges	19.9	3.1	38.4	22.5
Foreign currency exchange contracts
Cash flow hedges:
Effective portion of risk-management instruments that was recognized in other comprehensive income (loss), net investment hedges	107.8	0.0	121.4	0.0
Forward-starting interest rate swaps
Cash flow hedges:
Effective portion of risk-management instruments that was recognized in other comprehensive income (loss), cash flow hedges	57.5	19.4	337.7	149.3
Designated as Hedging Instrument \| Foreign currency-denominated notes
Fair value hedges:
Effect from hedged fixed-rate debt	(62.9)	(10.1)	(215.7)	(60.5)
Designated as Hedging Instrument \| Interest Rate Contracts
Fair value hedges:
Effect from interest rate contracts	62.9	10.1	215.7	60.5
Cash flow hedges:
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss	4.1	4.2	12.3	12.5
Designated as Hedging Instrument \| Cross-currency interest rate swaps
Cash flow hedges:
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss	33.1	10.0	75.0	58.1
Not Designated as Hedging Instrument \| Foreign currency exchange contracts
Cash flow hedges:
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments	$ 129.6	$ 50.8	$ 280.7	$ 110.6

Financial Instruments (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncurrent investments	$ 2,574.6	$ 3,212.6
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,246.8	2,379.5
Short-term investments	124.7	90.1
Equity investments without readily determinable fair values	583.7	548.1
Noncurrent investments	2,574.6	3,212.6
Short-term commercial paper borrowings	(1,741.3)	0.0
Long-term debt, including current portion	(14,147.1)	(16,884.7)
Carrying Amount \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	43.0	25.7
Noncurrent investments	131.4	137.0
Carrying Amount \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	51.7	43.7
Noncurrent investments	206.4	235.3
Carrying Amount \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0.2
Noncurrent investments	143.1	109.8
Carrying Amount \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	3.0	6.2
Noncurrent investments	43.6	23.1
Carrying Amount \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	27.0	14.3
Carrying Amount \| Other securities, noncurrent investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	152.5	108.1
Carrying Amount \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	549.1	1,279.7
Carrying Amount \| Equity method investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments	764.8	771.5
Cost
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,246.8	2,379.5
Cost \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	43.5	25.6
Noncurrent investments	148.3	136.8
Cost \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	51.8	43.7
Noncurrent investments	232.5	232.7
Cost \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0.2
Noncurrent investments	156.1	108.1
Cost \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	3.0	6.2
Noncurrent investments	45.5	23.1
Cost \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	27.0	14.3
Cost \| Other securities, noncurrent investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	96.3	22.2
Cost \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	416.1	487.0
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,246.8	2,379.5
Short-term commercial paper borrowings	(1,738.0)	0.0
Long-term debt, including current portion	(11,848.6)	(18,157.7)
Estimate of Fair Value Measurement \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	43.0	25.7
Noncurrent investments	131.4	137.0
Estimate of Fair Value Measurement \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	51.7	43.7
Noncurrent investments	206.4	235.3
Estimate of Fair Value Measurement \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0.2
Noncurrent investments	143.1	109.8
Estimate of Fair Value Measurement \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	3.0	6.2
Noncurrent investments	43.6	23.1
Estimate of Fair Value Measurement \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	27.0	14.3
Estimate of Fair Value Measurement \| Other securities, noncurrent investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	152.5	108.1
Estimate of Fair Value Measurement \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	549.1	1,279.7
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,239.2	2,361.0
Short-term commercial paper borrowings	0.0	0.0
Long-term debt, including current portion	0.0	0.0
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	43.0	25.7
Noncurrent investments	131.4	137.0
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0.0	0.0
Noncurrent investments	0.0	0.0
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0.0
Noncurrent investments	0.0	0.0
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0.0	0.0
Noncurrent investments	0.0	0.0
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0.0	0.0
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other securities, noncurrent investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0.0	0.0
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	549.1	1,279.7
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	7.6	18.5
Short-term commercial paper borrowings	(1,738.0)	0.0
Long-term debt, including current portion	(11,848.6)	(18,157.7)
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2) \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0.0	0.0
Noncurrent investments	0.0	0.0
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	51.7	43.7
Noncurrent investments	206.4	235.3
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0.2
Noncurrent investments	143.1	109.8
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	3.0	6.2
Noncurrent investments	43.6	23.1
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2) \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	14.8	0.0
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2) \| Other securities, noncurrent investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	39.5	0.0
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2) \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0.0	0.0
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Short-term commercial paper borrowings	0.0	0.0
Long-term debt, including current portion	0.0	0.0
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3) \| U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0.0	0.0
Noncurrent investments	0.0	0.0
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3) \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0.0	0.0
Noncurrent investments	0.0	0.0
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0.0
Noncurrent investments	0.0	0.0
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0.0	0.0
Noncurrent investments	0.0	0.0
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3) \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	12.2	14.3
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3) \| Other securities, noncurrent investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	113.0	108.1
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3) \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 0.0	$ 0.0

Financial Instruments (Contractual Maturities) (Details) $ in Millions	Sep. 30, 2022 USD ($)
Fair Value Disclosures [Abstract]
Total	$ 622.2
Less Than 1 Year	97.7
1-5 Years	197.8
6-10 Years	121.0
More Than 10 Years	$ 205.7

Financial Instruments (Unrealized Gains and Losses) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Unrealized gross gains	$ 0.1	$ 9.7
Unrealized gross losses	51.6	5.2
Fair value of securities in an unrealized gain position	13.8	250.7
Fair value of securities in an unrealized loss position	$ 578.8	$ 290.2

Financial Instruments (Realized Gains and Losses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Proceeds from sales	$ 50.5	$ 49.6	$ 115.6	$ 137.3
Realized gross gains on sales	0.0	0.4	0.2	2.2
Realized gross losses on sales	$ 7.5	$ 0.3	$ 9.0	$ 1.1

Income Taxes (Details)	3 Months Ended		9 Months Ended		12 Months Ended
Income Taxes (Details)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2022
Income Tax Contingency [Line Items]
Effective income tax rate, percentage	7.30%	10.90%	8.60%	10.70%
Forecast \| Minimum
Income Tax Contingency [Line Items]
Effective income tax rate, percentage					13.00%
Forecast \| Maximum
Income Tax Contingency [Line Items]
Effective income tax rate, percentage					14.00%

Retirement Benefits (Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 87.1	$ 92.5	$ 264.4	$ 277.8
Interest cost	98.9	84.5	299.0	253.6
Expected return on plan assets	(235.1)	(237.5)	(711.6)	(712.7)
Amortization of prior service cost	0.6	1.0	1.9	3.2
Recognized actuarial loss	85.3	121.9	256.8	366.3
Net periodic benefit cost	36.8	62.4	110.5	188.2
Retiree Health Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	11.7	12.4	35.0	37.0
Interest cost	9.4	8.1	28.4	24.4
Expected return on plan assets	(38.0)	(36.5)	(114.1)	(109.6)
Amortization of prior service cost	(13.7)	(14.9)	(41.1)	(44.7)
Recognized actuarial loss	0.2	0.8	0.7	2.4
Net periodic benefit cost	$ (30.4)	$ (30.1)	$ (91.1)	$ (90.5)

Contingencies (Details) R$ in Millions, $ in Millions	1 Months Ended				9 Months Ended		163 Months Ended
Contingencies (Details) R$ in Millions, $ in Millions	Jul. 31, 2021 claim	Jun. 30, 2021 BRL (R$) patent	Jul. 31, 2019 BRL (R$)	Jul. 31, 2018 BRL (R$)	Sep. 30, 2022 USD ($) patent lawsuit site	Sep. 30, 2022 BRL (R$) patent lawsuit site	Sep. 30, 2022 patent lawsuit plaintiff site	Oct. 31, 2022 patent
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Number of sites jointly and severally liable for cleanup (fewer than) \| site					10	10	10
Byetta \| Product Liability
Loss Contingencies [Line Items]
Number of pending lawsuits					500	500	500
Number of plaintiffs \| plaintiff							800
Humalog, Humulin and Forteo
Loss Contingencies [Line Items]
Number of pending lawsuits					2	2	2
Insulin
Loss Contingencies [Line Items]
Number of claims dismissed \| claim	3
Emgality Patent Litigation
Loss Contingencies [Line Items]
Number of patents \| patent		2			3	3	3
Emgality Patent Litigation \| Subsequent Event
Loss Contingencies [Line Items]
Number of patents \| patent								2
Employee Litigation \| Brazil
Loss Contingencies [Line Items]
Number of pending lawsuits					20	20	20
Damages awarded, value		R$ 100	R$ 500	R$ 300	$ 185	R$ 1,000

Other Comprehensive Income (Loss) (AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ 9,154.8
Other comprehensive income (loss) before reclassifications	$ (79.2)	$ 25.0	(145.1)	$ 54.5
Net amount reclassified from accumulated other comprehensive loss	71.1	89.4	192.4	269.2
Net other comprehensive income (loss)	(8.1)	114.4	47.3	323.7
Ending balance	10,165.9		10,165.9
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(4,287.7)	(6,287.1)	(4,343.1)	(6,496.4)
Ending balance	(4,295.8)	(6,172.7)	(4,295.8)	(6,172.7)
Foreign Currency Translation Gains (Losses)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,844.2)	(1,516.2)	(1,550.2)	(1,427.5)
Other comprehensive income (loss) before reclassifications	(165.1)	(8.0)	(459.7)	(96.7)
Net amount reclassified from accumulated other comprehensive loss	0.0	0.0	0.6	0.0
Net other comprehensive income (loss)	(165.1)	(8.0)	(459.1)	(96.7)
Ending balance	(2,009.3)	(1,524.2)	(2,009.3)	(1,524.2)
Unrealized Net Gains (Losses) on Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(27.9)	9.1	3.7	14.8
Other comprehensive income (loss) before reclassifications	(24.9)	(2.4)	(55.5)	(8.8)
Net amount reclassified from accumulated other comprehensive loss	13.5	0.1	12.5	0.8
Net other comprehensive income (loss)	(11.4)	(2.3)	(43.0)	(8.0)
Ending balance	(39.3)	6.8	(39.3)	6.8
Defined Benefit Pension and Retiree Health Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,443.2)	(4,569.9)	(2,583.6)	(4,751.0)
Other comprehensive income (loss) before reclassifications	47.8	18.6	72.9	27.2
Net amount reclassified from accumulated other comprehensive loss	57.2	86.0	172.5	258.5
Net other comprehensive income (loss)	105.0	104.6	245.4	285.7
Ending balance	(2,338.2)	(4,465.3)	(2,338.2)	(4,465.3)
Effective portion of cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	27.6	(210.1)	(213.0)	(332.7)
Other comprehensive income (loss) before reclassifications	63.0	16.8	297.2	132.8
Net amount reclassified from accumulated other comprehensive loss	0.4	3.3	6.8	9.9
Net other comprehensive income (loss)	63.4	20.1	304.0	142.7
Ending balance	$ 91.0	$ (190.0)	$ 91.0	$ (190.0)

Other Comprehensive Income (Loss) (Tax Effect) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items	$ (169.2)	$ (71.8)	$ (375.1)	$ (206.1)
Foreign Currency Translation Gains (Losses)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items	(133.3)	(39.0)	(234.2)	(92.3)
Unrealized net gains/losses on securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items	3.4	0.8	13.1	3.8
Defined Benefit Pension and Retiree Health Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items	(22.4)	(28.2)	(73.2)	(79.7)
Effective portion of cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefit (expense) for income taxes allocated to other comprehensive income (loss) items	$ (16.9)	$ (5.4)	$ (80.8)	$ (37.9)

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123586238&loc=d3e39076-109324

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123586238&loc=d3e38679-109324

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32672-109319

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e640-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

Other Comprehensive Income (Loss) (Reclassification) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other–net, (income) expense	$ (18.7)	$ 20.1	$ 17.0	$ 34.1
Total before tax	1,565.5	1,245.3	4,710.0	4,315.6
Tax benefit	(113.8)	(135.2)	(402.9)	(460.0)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of tax	71.1	89.4	192.4	269.2
Defined Benefit Pension and Retiree Health Benefit Plans \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	72.4	108.8	218.3	327.2
Tax benefit	(15.2)	(22.8)	(45.8)	(68.7)
Total reclassifications, net of tax	57.2	86.0	172.5	258.5
Prior service benefits, net \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other–net, (income) expense	(13.1)	(13.9)	(39.2)	(41.5)
Actuarial losses, net \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other–net, (income) expense	85.5	122.7	257.5	368.7
Other, net of tax \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other–net, (income) expense	$ 13.9	$ 3.4	$ 19.9	$ 10.7

Other–Net, (Income) Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Nonoperating Income (Expense) [Abstract]
Interest expense	$ 81.5	$ 83.6	$ 247.6	$ 258.4
Interest income	(20.1)	(7.0)	(37.3)	(18.0)
Net investment (gains) losses on equity securities (Note 6)	123.3	246.8	667.6	(270.1)
Retirement benefit plans	(92.4)	(72.6)	(280.0)	(217.1)
Debt extinguishment loss (Note 6)	0.0	405.2	0.0	405.2
Other (income) expense	18.7	(20.1)	(17.0)	(34.1)
Other–net, (income) expense	$ 111.0	$ 635.9	$ 580.9	$ 124.3

Financial Instruments (Risk Management Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability, other noncurrent liabilities	$ (42.1)	$ (70.5)
Carrying Amount \| Foreign currency exchange contracts \| Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	48.1	9.9
Other current liabilities	(93.5)	(35.3)
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability, other noncurrent liabilities	(42.1)	(70.5)
Estimate of Fair Value Measurement \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability, other noncurrent liabilities	0.0	0.0
Estimate of Fair Value Measurement \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability, other noncurrent liabilities	0.0	0.0
Estimate of Fair Value Measurement \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability, other noncurrent liabilities	(42.1)	(70.5)
Estimate of Fair Value Measurement \| Foreign currency exchange contracts \| Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	48.1	9.9
Other current liabilities	(93.5)	(35.3)
Estimate of Fair Value Measurement \| Foreign currency exchange contracts \| Not Designated as Hedging Instrument \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	0.0	0.0
Other current liabilities	0.0	0.0
Estimate of Fair Value Measurement \| Foreign currency exchange contracts \| Not Designated as Hedging Instrument \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	48.1	9.9
Other current liabilities	(93.5)	(35.3)
Estimate of Fair Value Measurement \| Foreign currency exchange contracts \| Not Designated as Hedging Instrument \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	0.0	0.0
Other current liabilities	0.0	0.0
Fair Value Hedging \| Carrying Amount \| Interest Rate Contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables		4.8
Other noncurrent assets		78.3
Other noncurrent liabilities	(140.2)	(7.6)
Fair Value Hedging \| Estimate of Fair Value Measurement \| Interest Rate Contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables		4.8
Other noncurrent assets		78.3
Other noncurrent liabilities	(140.2)	(7.6)
Fair Value Hedging \| Estimate of Fair Value Measurement \| Interest Rate Contracts \| Designated as Hedging Instrument \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables		0.0
Other noncurrent assets		0.0
Other noncurrent liabilities	0.0	0.0
Fair Value Hedging \| Estimate of Fair Value Measurement \| Interest Rate Contracts \| Designated as Hedging Instrument \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables		4.8
Other noncurrent assets		78.3
Other noncurrent liabilities	(140.2)	(7.6)
Fair Value Hedging \| Estimate of Fair Value Measurement \| Interest Rate Contracts \| Designated as Hedging Instrument \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables		0.0
Other noncurrent assets		0.0
Other noncurrent liabilities	0.0	0.0
Cash Flow Hedging \| Carrying Amount \| Interest Rate Contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	355.2	49.2
Other noncurrent liabilities		(31.7)
Cash Flow Hedging \| Carrying Amount \| Cross-currency interest rate swaps \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	8.3	33.2
Other noncurrent liabilities	(12.9)	(1.3)
Cash Flow Hedging \| Estimate of Fair Value Measurement \| Interest Rate Contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	355.2	49.2
Other noncurrent liabilities		(31.7)
Cash Flow Hedging \| Estimate of Fair Value Measurement \| Interest Rate Contracts \| Designated as Hedging Instrument \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	0.0	0.0
Other noncurrent liabilities		0.0
Cash Flow Hedging \| Estimate of Fair Value Measurement \| Interest Rate Contracts \| Designated as Hedging Instrument \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	355.2	49.2
Other noncurrent liabilities		(31.7)
Cash Flow Hedging \| Estimate of Fair Value Measurement \| Interest Rate Contracts \| Designated as Hedging Instrument \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	0.0	0.0
Other noncurrent liabilities		0.0
Cash Flow Hedging \| Estimate of Fair Value Measurement \| Cross-currency interest rate swaps \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	8.3	33.2
Other noncurrent liabilities	(12.9)	(1.3)
Cash Flow Hedging \| Estimate of Fair Value Measurement \| Cross-currency interest rate swaps \| Designated as Hedging Instrument \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	0.0	0.0
Other noncurrent liabilities	0.0	0.0
Cash Flow Hedging \| Estimate of Fair Value Measurement \| Cross-currency interest rate swaps \| Designated as Hedging Instrument \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	8.3	33.2
Other noncurrent liabilities	(12.9)	(1.3)
Cash Flow Hedging \| Estimate of Fair Value Measurement \| Cross-currency interest rate swaps \| Designated as Hedging Instrument \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other noncurrent assets	0.0	0.0
Other noncurrent liabilities	0.0	0.0
Net Investment Hedges \| Carrying Amount \| Cross-currency interest rate swaps \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	81.6
Other noncurrent assets	116.9	31.3
Other current liabilities		(1.2)
Net Investment Hedges \| Carrying Amount \| Foreign currency exchange contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	108.2
Other current liabilities	(2.9)
Net Investment Hedges \| Estimate of Fair Value Measurement \| Cross-currency interest rate swaps \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	81.6
Other noncurrent assets	116.9	31.3
Other current liabilities		(1.2)
Net Investment Hedges \| Estimate of Fair Value Measurement \| Cross-currency interest rate swaps \| Designated as Hedging Instrument \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	0.0
Other noncurrent assets	0.0	0.0
Other current liabilities		0.0
Net Investment Hedges \| Estimate of Fair Value Measurement \| Cross-currency interest rate swaps \| Designated as Hedging Instrument \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	81.6
Other noncurrent assets	116.9	31.3
Other current liabilities		(1.2)
Net Investment Hedges \| Estimate of Fair Value Measurement \| Cross-currency interest rate swaps \| Designated as Hedging Instrument \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	0.0
Other noncurrent assets	0.0	0.0
Other current liabilities		$ 0.0
Net Investment Hedges \| Estimate of Fair Value Measurement \| Foreign currency exchange contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	108.2
Other current liabilities	(2.9)
Net Investment Hedges \| Estimate of Fair Value Measurement \| Foreign currency exchange contracts \| Designated as Hedging Instrument \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	0.0
Other current liabilities	0.0
Net Investment Hedges \| Estimate of Fair Value Measurement \| Foreign currency exchange contracts \| Designated as Hedging Instrument \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	108.2
Other current liabilities	(2.9)
Net Investment Hedges \| Estimate of Fair Value Measurement \| Foreign currency exchange contracts \| Designated as Hedging Instrument \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	0.0
Other current liabilities	$ 0.0