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On September 16, 2024, Viatris and Mylan Inc. completed cash tender offers for their then-outstanding 1.650 % Senior Notes due 2025 (the “2025 Senior Notes”) and 2.125 % Senior Notes due 2025 (the “2025 Euro Senior Notes”), respectively. Viatris paid $ 422.3 million to repurchase $ 432.0 million aggregate principal amount of the 2025 Senior Notes at a repurchase price equal to 97.8 % of the aggregate principal amount of the 2025 Senior Notes accepted for tender, and also paid accrued and unpaid interest. Mylan Inc. paid € 206.9 million to repurchase € 208.1 million aggregate principal amount of the 2025 Euro Senior Notes at a repurchase price equal to 99.4 % of the aggregate principal amount of the 2025 Euro Senior Notes accepted for tender, and also paid accrued and unpaid interest. On September 20, 2024, Utah Acquisition Sub Inc. also completed a cash tender offer for its then-outstanding 3.950 % Senior Notes due 2026 (the “2026 Senior Notes” and, together with the 2025 Senior Notes and the 2025 Euro Senior Notes, the “Senior Notes”) and paid $ 572.5 million to repurchase $ 575.0 million aggregate principal amount at a repurchase price equal to 99.6 % of the aggregate principal amount of the 2026 Senior Notes accepted for tender, and also paid accrued and unpaid interest. | text | 575.0 | monetaryItemType | text: <entity> 575.0 </entity> <entity type> monetaryItemType </entity type> <context> On September 16, 2024, Viatris and Mylan Inc. completed cash tender offers for their then-outstanding 1.650 % Senior Notes due 2025 (the “2025 Senior Notes”) and 2.125 % Senior Notes due 2025 (the “2025 Euro Senior Notes”), respectively. Viatris paid $ 422.3 million to repurchase $ 432.0 million aggregate principal amount of the 2025 Senior Notes at a repurchase price equal to 97.8 % of the aggregate principal amount of the 2025 Senior Notes accepted for tender, and also paid accrued and unpaid interest. Mylan Inc. paid € 206.9 million to repurchase € 208.1 million aggregate principal amount of the 2025 Euro Senior Notes at a repurchase price equal to 99.4 % of the aggregate principal amount of the 2025 Euro Senior Notes accepted for tender, and also paid accrued and unpaid interest. On September 20, 2024, Utah Acquisition Sub Inc. also completed a cash tender offer for its then-outstanding 3.950 % Senior Notes due 2026 (the “2026 Senior Notes” and, together with the 2025 Senior Notes and the 2025 Euro Senior Notes, the “Senior Notes”) and paid $ 572.5 million to repurchase $ 575.0 million aggregate principal amount at a repurchase price equal to 99.6 % of the aggregate principal amount of the 2026 Senior Notes accepted for tender, and also paid accrued and unpaid interest. </context> | us-gaap:LongTermDebt |
On September 16, 2024, Viatris and Mylan Inc. completed cash tender offers for their then-outstanding 1.650 % Senior Notes due 2025 (the “2025 Senior Notes”) and 2.125 % Senior Notes due 2025 (the “2025 Euro Senior Notes”), respectively. Viatris paid $ 422.3 million to repurchase $ 432.0 million aggregate principal amount of the 2025 Senior Notes at a repurchase price equal to 97.8 % of the aggregate principal amount of the 2025 Senior Notes accepted for tender, and also paid accrued and unpaid interest. Mylan Inc. paid € 206.9 million to repurchase € 208.1 million aggregate principal amount of the 2025 Euro Senior Notes at a repurchase price equal to 99.4 % of the aggregate principal amount of the 2025 Euro Senior Notes accepted for tender, and also paid accrued and unpaid interest. On September 20, 2024, Utah Acquisition Sub Inc. also completed a cash tender offer for its then-outstanding 3.950 % Senior Notes due 2026 (the “2026 Senior Notes” and, together with the 2025 Senior Notes and the 2025 Euro Senior Notes, the “Senior Notes”) and paid $ 572.5 million to repurchase $ 575.0 million aggregate principal amount at a repurchase price equal to 99.6 % of the aggregate principal amount of the 2026 Senior Notes accepted for tender, and also paid accrued and unpaid interest. | text | 99.6 | percentItemType | text: <entity> 99.6 </entity> <entity type> percentItemType </entity type> <context> On September 16, 2024, Viatris and Mylan Inc. completed cash tender offers for their then-outstanding 1.650 % Senior Notes due 2025 (the “2025 Senior Notes”) and 2.125 % Senior Notes due 2025 (the “2025 Euro Senior Notes”), respectively. Viatris paid $ 422.3 million to repurchase $ 432.0 million aggregate principal amount of the 2025 Senior Notes at a repurchase price equal to 97.8 % of the aggregate principal amount of the 2025 Senior Notes accepted for tender, and also paid accrued and unpaid interest. Mylan Inc. paid € 206.9 million to repurchase € 208.1 million aggregate principal amount of the 2025 Euro Senior Notes at a repurchase price equal to 99.4 % of the aggregate principal amount of the 2025 Euro Senior Notes accepted for tender, and also paid accrued and unpaid interest. On September 20, 2024, Utah Acquisition Sub Inc. also completed a cash tender offer for its then-outstanding 3.950 % Senior Notes due 2026 (the “2026 Senior Notes” and, together with the 2025 Senior Notes and the 2025 Euro Senior Notes, the “Senior Notes”) and paid $ 572.5 million to repurchase $ 575.0 million aggregate principal amount at a repurchase price equal to 99.6 % of the aggregate principal amount of the 2026 Senior Notes accepted for tender, and also paid accrued and unpaid interest. </context> | us-gaap:DebtInstrumentRedemptionPricePercentage |
On September 16, 2024, after completing the tender offer, the Company irrevocably deposited with the trustee under the indenture governing the 2025 Senior Notes, U.S. government obligations in an amount sufficient to fund the payment of accrued and unpaid interest and the remaining $ 318.0 million aggregate principal amount as it becomes due. After the deposit of such funds with the trustee, the Company’s obligations under the 2025 Senior Notes Indenture with respect to the 2025 Senior Notes were satisfied and discharged. In addition, on September 16, 2024, after completing the tender offer, Mylan Inc. issued a notice of redemption for the remaining € 291.9 million aggregate principal amount of the 2025 Euro Senior Notes and such redemption was completed on October 16, 2024. | text | 318.0 | monetaryItemType | text: <entity> 318.0 </entity> <entity type> monetaryItemType </entity type> <context> On September 16, 2024, after completing the tender offer, the Company irrevocably deposited with the trustee under the indenture governing the 2025 Senior Notes, U.S. government obligations in an amount sufficient to fund the payment of accrued and unpaid interest and the remaining $ 318.0 million aggregate principal amount as it becomes due. After the deposit of such funds with the trustee, the Company’s obligations under the 2025 Senior Notes Indenture with respect to the 2025 Senior Notes were satisfied and discharged. In addition, on September 16, 2024, after completing the tender offer, Mylan Inc. issued a notice of redemption for the remaining € 291.9 million aggregate principal amount of the 2025 Euro Senior Notes and such redemption was completed on October 16, 2024. </context> | us-gaap:EarlyRepaymentOfSeniorDebt |
On September 16, 2024, after completing the tender offer, the Company irrevocably deposited with the trustee under the indenture governing the 2025 Senior Notes, U.S. government obligations in an amount sufficient to fund the payment of accrued and unpaid interest and the remaining $ 318.0 million aggregate principal amount as it becomes due. After the deposit of such funds with the trustee, the Company’s obligations under the 2025 Senior Notes Indenture with respect to the 2025 Senior Notes were satisfied and discharged. In addition, on September 16, 2024, after completing the tender offer, Mylan Inc. issued a notice of redemption for the remaining € 291.9 million aggregate principal amount of the 2025 Euro Senior Notes and such redemption was completed on October 16, 2024. | text | 291.9 | monetaryItemType | text: <entity> 291.9 </entity> <entity type> monetaryItemType </entity type> <context> On September 16, 2024, after completing the tender offer, the Company irrevocably deposited with the trustee under the indenture governing the 2025 Senior Notes, U.S. government obligations in an amount sufficient to fund the payment of accrued and unpaid interest and the remaining $ 318.0 million aggregate principal amount as it becomes due. After the deposit of such funds with the trustee, the Company’s obligations under the 2025 Senior Notes Indenture with respect to the 2025 Senior Notes were satisfied and discharged. In addition, on September 16, 2024, after completing the tender offer, Mylan Inc. issued a notice of redemption for the remaining € 291.9 million aggregate principal amount of the 2025 Euro Senior Notes and such redemption was completed on October 16, 2024. </context> | us-gaap:EarlyRepaymentOfSeniorDebt |
In July 2021, Viatris entered into the ¥ 40 billion YEN Term Loan Facility with various syndicates of banks. The YEN Term Loan Facility will mature in July 2026. On September 27, 2024, Viatris entered into a $ 3.5 billion amended and restated revolving credit agreement (the “2024 Revolving Facility”) with a syndicate of banks. The 2024 Revolving Facility amended and restated the 2021 Revolving Facility. The 2024 Revolving Facility bears interest at variable rates based on current market conditions and will mature in September 2029. | text | 40 | monetaryItemType | text: <entity> 40 </entity> <entity type> monetaryItemType </entity type> <context> In July 2021, Viatris entered into the ¥ 40 billion YEN Term Loan Facility with various syndicates of banks. The YEN Term Loan Facility will mature in July 2026. On September 27, 2024, Viatris entered into a $ 3.5 billion amended and restated revolving credit agreement (the “2024 Revolving Facility”) with a syndicate of banks. The 2024 Revolving Facility amended and restated the 2021 Revolving Facility. The 2024 Revolving Facility bears interest at variable rates based on current market conditions and will mature in September 2029. </context> | us-gaap:DebtInstrumentFaceAmount |
In July 2021, Viatris entered into the ¥ 40 billion YEN Term Loan Facility with various syndicates of banks. The YEN Term Loan Facility will mature in July 2026. On September 27, 2024, Viatris entered into a $ 3.5 billion amended and restated revolving credit agreement (the “2024 Revolving Facility”) with a syndicate of banks. The 2024 Revolving Facility amended and restated the 2021 Revolving Facility. The 2024 Revolving Facility bears interest at variable rates based on current market conditions and will mature in September 2029. | text | 3.5 | monetaryItemType | text: <entity> 3.5 </entity> <entity type> monetaryItemType </entity type> <context> In July 2021, Viatris entered into the ¥ 40 billion YEN Term Loan Facility with various syndicates of banks. The YEN Term Loan Facility will mature in July 2026. On September 27, 2024, Viatris entered into a $ 3.5 billion amended and restated revolving credit agreement (the “2024 Revolving Facility”) with a syndicate of banks. The 2024 Revolving Facility amended and restated the 2021 Revolving Facility. The 2024 Revolving Facility bears interest at variable rates based on current market conditions and will mature in September 2029. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The YEN Term Loan Facility and the 2024 Revolving Facility contain customary affirmative covenants for facilities of this type, including among others, covenants pertaining to the delivery of financial statements, notices of default and certain material events, maintenance of corporate existence and rights, property, and insurance and compliance with laws, as well as customary negative covenants for facilities of this type, including a financial covenant, which require maintenance of a Maximum Leverage Ratio no greater than 3.75 to 1.00 as of the last day of any fiscal quarter, except in circumstances as defined in the related credit agreement, and other limitations on the incurrence of subsidiary indebtedness, liens, mergers and certain other fundamental changes, investments and loans, acquisitions, transactions with affiliates, payments of dividends and other restricted payments and changes in our lines of business. Up to $ 1.65 billion of the 2024 Revolving Facility may be used to support borrowings under our Commercial Paper Program. | text | 1.65 | monetaryItemType | text: <entity> 1.65 </entity> <entity type> monetaryItemType </entity type> <context> The YEN Term Loan Facility and the 2024 Revolving Facility contain customary affirmative covenants for facilities of this type, including among others, covenants pertaining to the delivery of financial statements, notices of default and certain material events, maintenance of corporate existence and rights, property, and insurance and compliance with laws, as well as customary negative covenants for facilities of this type, including a financial covenant, which require maintenance of a Maximum Leverage Ratio no greater than 3.75 to 1.00 as of the last day of any fiscal quarter, except in circumstances as defined in the related credit agreement, and other limitations on the incurrence of subsidiary indebtedness, liens, mergers and certain other fundamental changes, investments and loans, acquisitions, transactions with affiliates, payments of dividends and other restricted payments and changes in our lines of business. Up to $ 1.65 billion of the 2024 Revolving Facility may be used to support borrowings under our Commercial Paper Program. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
At December 31, 2024 and 2023, the aggregate fair value of the Company’s outstanding notes was approximately $ 11.53 billion and $ 15.25 billion, respectively. The fair values of the outstanding notes were valued at quoted market prices from broker or dealer quotations and were classified as Level 2 in the fair value hierarchy. | text | 11.53 | monetaryItemType | text: <entity> 11.53 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the aggregate fair value of the Company’s outstanding notes was approximately $ 11.53 billion and $ 15.25 billion, respectively. The fair values of the outstanding notes were valued at quoted market prices from broker or dealer quotations and were classified as Level 2 in the fair value hierarchy. </context> | us-gaap:DebtInstrumentFairValue |
At December 31, 2024 and 2023, the aggregate fair value of the Company’s outstanding notes was approximately $ 11.53 billion and $ 15.25 billion, respectively. The fair values of the outstanding notes were valued at quoted market prices from broker or dealer quotations and were classified as Level 2 in the fair value hierarchy. | text | 15.25 | monetaryItemType | text: <entity> 15.25 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the aggregate fair value of the Company’s outstanding notes was approximately $ 11.53 billion and $ 15.25 billion, respectively. The fair values of the outstanding notes were valued at quoted market prices from broker or dealer quotations and were classified as Level 2 in the fair value hierarchy. </context> | us-gaap:DebtInstrumentFairValue |
For those foreign subsidiaries whose investments are permanent in duration, income and foreign withholding taxes have not been provided on the unremitted earnings of those subsidiaries. This amount may become taxable upon a repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary. The amount of such unremitted earnings is approximately $ 1.11 billion at December 31, 2024. Determination of the amount of any unrecognized deferred income tax liability on these unremitted earnings is not practicable as such determination involves material uncertainties about the potential extent and timing of any distributions, the availability and complexity of calculating foreign tax credits, and the potential indirect tax consequences of such distributions, including withholding taxes. | text | 1.11 | monetaryItemType | text: <entity> 1.11 </entity> <entity type> monetaryItemType </entity type> <context> For those foreign subsidiaries whose investments are permanent in duration, income and foreign withholding taxes have not been provided on the unremitted earnings of those subsidiaries. This amount may become taxable upon a repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary. The amount of such unremitted earnings is approximately $ 1.11 billion at December 31, 2024. Determination of the amount of any unrecognized deferred income tax liability on these unremitted earnings is not practicable as such determination involves material uncertainties about the potential extent and timing of any distributions, the availability and complexity of calculating foreign tax credits, and the potential indirect tax consequences of such distributions, including withholding taxes. </context> | us-gaap:DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityUndistributedEarningsOfForeignSubsidiaries |
During the year ended December 31, 2024, as a result of legislation changes surrounding Pillar Two Global Anti-Base Erosion Rules (“Pillar Two Rules”), the Company recognized $ 734.6 million of previously unrecorded Luxembourg net operating losses which are offset by a corresponding valuation allowance. During the year ended December 31, 2022, a Puerto Rico net operating loss, which was recorded in conjunction with the Combination, expired unutilized resulting in a $ 274.4 million write-off of deferred tax asset and corresponding valuation allowance. The expiration and valuation allowance impacts are reflected in the above table. | text | 734.6 | monetaryItemType | text: <entity> 734.6 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, as a result of legislation changes surrounding Pillar Two Global Anti-Base Erosion Rules (“Pillar Two Rules”), the Company recognized $ 734.6 million of previously unrecorded Luxembourg net operating losses which are offset by a corresponding valuation allowance. During the year ended December 31, 2022, a Puerto Rico net operating loss, which was recorded in conjunction with the Combination, expired unutilized resulting in a $ 274.4 million write-off of deferred tax asset and corresponding valuation allowance. The expiration and valuation allowance impacts are reflected in the above table. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwards |
A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. At December 31, 2024, a valuation allowance has been applied to certain deferred tax assets in the amount of $ 1.23 billion. | text | 1.23 | monetaryItemType | text: <entity> 1.23 </entity> <entity type> monetaryItemType </entity type> <context> A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. At December 31, 2024, a valuation allowance has been applied to certain deferred tax assets in the amount of $ 1.23 billion. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
U.S. federal net operating loss carryforwards of $ 247.6 million, which were recorded in connection with the Oyster Point acquisition. While the utilization of these carryforwards is subject to Section 382 of the Code, the Company does not anticipate that this limitation will impair our ability to utilize the carryovers. | text | 247.6 | monetaryItemType | text: <entity> 247.6 </entity> <entity type> monetaryItemType </entity type> <context> U.S. federal net operating loss carryforwards of $ 247.6 million, which were recorded in connection with the Oyster Point acquisition. While the utilization of these carryforwards is subject to Section 382 of the Code, the Company does not anticipate that this limitation will impair our ability to utilize the carryovers. </context> | us-gaap:OperatingLossCarryforwards |
U.S. state income tax loss carryforwards of approximately $ 3.40 billion, which are largely offset by a valuation allowance. | text | 3.40 | monetaryItemType | text: <entity> 3.40 </entity> <entity type> monetaryItemType </entity type> <context> U.S. state income tax loss carryforwards of approximately $ 3.40 billion, which are largely offset by a valuation allowance. </context> | us-gaap:OperatingLossCarryforwards |
Non-U.S. net operating loss carryforwards of approximately $ 4.47 billion, of which $ 2.34 billion can be carried forward indefinitely, with the remaining $ 2.13 billion expiring in years 2025 through 2044. | text | 4.47 | monetaryItemType | text: <entity> 4.47 </entity> <entity type> monetaryItemType </entity type> <context> Non-U.S. net operating loss carryforwards of approximately $ 4.47 billion, of which $ 2.34 billion can be carried forward indefinitely, with the remaining $ 2.13 billion expiring in years 2025 through 2044. </context> | us-gaap:OperatingLossCarryforwards |
Non-U.S. net operating loss carryforwards of approximately $ 4.47 billion, of which $ 2.34 billion can be carried forward indefinitely, with the remaining $ 2.13 billion expiring in years 2025 through 2044. | text | 2.34 | monetaryItemType | text: <entity> 2.34 </entity> <entity type> monetaryItemType </entity type> <context> Non-U.S. net operating loss carryforwards of approximately $ 4.47 billion, of which $ 2.34 billion can be carried forward indefinitely, with the remaining $ 2.13 billion expiring in years 2025 through 2044. </context> | us-gaap:OperatingLossCarryforwards |
Non-U.S. net operating loss carryforwards of approximately $ 4.47 billion, of which $ 2.34 billion can be carried forward indefinitely, with the remaining $ 2.13 billion expiring in years 2025 through 2044. | text | 2.13 | monetaryItemType | text: <entity> 2.13 </entity> <entity type> monetaryItemType </entity type> <context> Non-U.S. net operating loss carryforwards of approximately $ 4.47 billion, of which $ 2.34 billion can be carried forward indefinitely, with the remaining $ 2.13 billion expiring in years 2025 through 2044. </context> | us-gaap:OperatingLossCarryforwards |
U.S. and foreign credit carryovers of $ 276.6 million, expiring in various amounts through 2044. | text | 276.6 | monetaryItemType | text: <entity> 276.6 </entity> <entity type> monetaryItemType </entity type> <context> U.S. and foreign credit carryovers of $ 276.6 million, expiring in various amounts through 2044. </context> | us-gaap:TaxCreditCarryforwardAmount |
Anticipatory foreign tax credits of $ 48.0 million which will generate from the reversal of future taxable income in certain non-U.S. jurisdictions which are taxed both in their local jurisdictions and in the U.S. | text | 48.0 | monetaryItemType | text: <entity> 48.0 </entity> <entity type> monetaryItemType </entity type> <context> Anticipatory foreign tax credits of $ 48.0 million which will generate from the reversal of future taxable income in certain non-U.S. jurisdictions which are taxed both in their local jurisdictions and in the U.S. </context> | us-gaap:DeferredTaxAssetsTaxCreditCarryforwardsForeign |
In India, the tax authorities have issued notices of assessments to the Company seeking unpaid taxes and interest for the financial years covering 2013 to 2018 concerning our tax position with respect to certain corporate tax deductions and certain intercompany transactions. Some of these issues were resolved through the Company entering into an agreement with the tax authorities in March 2023 in respect of the pricing of its international transactions. The Company recorded tax expense of approximately $ 22.3 million during the year ended December 31, 2023, due to the terms of this agreement. The remaining issues are in the audit phase or are being challenged in the Indian tax courts. | text | 22.3 | monetaryItemType | text: <entity> 22.3 </entity> <entity type> monetaryItemType </entity type> <context> In India, the tax authorities have issued notices of assessments to the Company seeking unpaid taxes and interest for the financial years covering 2013 to 2018 concerning our tax position with respect to certain corporate tax deductions and certain intercompany transactions. Some of these issues were resolved through the Company entering into an agreement with the tax authorities in March 2023 in respect of the pricing of its international transactions. The Company recorded tax expense of approximately $ 22.3 million during the year ended December 31, 2023, due to the terms of this agreement. The remaining issues are in the audit phase or are being challenged in the Indian tax courts. </context> | us-gaap:IncomeTaxExpenseBenefit |
In 2020, the Swedish Tax Authorities (“STA”) asserted an underpayment of tax against Meda A.B. for the tax years 2014 to 2019. The claim was that profits earned by its Luxembourg subsidiary should have been attributed to Meda A.B. The Company appealed the STA’s assessment to the Administrative Court of Stockholm. On September 16, 2022, the Court ruled in favor of Meda A.B. that no tax was due. The STA appealed that decision. On April 10, 2024, the Administrative Court of Appeals overturned the lower Court’s ruling and issued a decision in favor of the STA upholding its original assessment. The amount due including interest and penalties is approximately $ 18.2 million, which was paid during the second quarter of 2024. The Company has filed a petition seeking review of the decision to the Supreme Administrative Court. | text | 18.2 | monetaryItemType | text: <entity> 18.2 </entity> <entity type> monetaryItemType </entity type> <context> In 2020, the Swedish Tax Authorities (“STA”) asserted an underpayment of tax against Meda A.B. for the tax years 2014 to 2019. The claim was that profits earned by its Luxembourg subsidiary should have been attributed to Meda A.B. The Company appealed the STA’s assessment to the Administrative Court of Stockholm. On September 16, 2022, the Court ruled in favor of Meda A.B. that no tax was due. The STA appealed that decision. On April 10, 2024, the Administrative Court of Appeals overturned the lower Court’s ruling and issued a decision in favor of the STA upholding its original assessment. The amount due including interest and penalties is approximately $ 18.2 million, which was paid during the second quarter of 2024. The Company has filed a petition seeking review of the decision to the Supreme Administrative Court. </context> | us-gaap:IncomeTaxExaminationEstimateOfPossibleLoss |
As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. | text | 255.7 | monetaryItemType | text: <entity> 255.7 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. </context> | us-gaap:UnrecognizedTaxBenefits |
As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. | text | 272.8 | monetaryItemType | text: <entity> 272.8 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. </context> | us-gaap:UnrecognizedTaxBenefits |
As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. | text | 180.5 | monetaryItemType | text: <entity> 180.5 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. | text | 106.4 | monetaryItemType | text: <entity> 106.4 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. </context> | us-gaap:IncomeTaxExaminationPenaltiesAndInterestAccrued |
As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. | text | 115.7 | monetaryItemType | text: <entity> 115.7 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. </context> | us-gaap:IncomeTaxExaminationPenaltiesAndInterestAccrued |
As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. </context> | us-gaap:IncomeTaxExaminationInterestExpense |
As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. | text | 15.4 | monetaryItemType | text: <entity> 15.4 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. </context> | us-gaap:IncomeTaxExaminationInterestExpense |
As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. | text | 21.1 | monetaryItemType | text: <entity> 21.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, the Company’s consolidated balance sheets reflect net liabilities for unrecognized tax benefits of $ 255.7 million and $ 272.8 million, respectively, of which $ 180.5 million as of December 31, 2024 would affect the Company’s effective tax rate if recognized, with the remainder being offset by potential correlative adjustments. Related accrued interest and penalties included in the consolidated balance sheets were $ 106.4 million and $ 115.7 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $( 0.3 ) million, $ 15.4 million, and $ 21.1 million of tax (benefit)/expense, respectively, related to interest and penalties on uncertain tax positions. Interest and penalties related to income taxes are included in the tax provision. </context> | us-gaap:IncomeTaxExaminationInterestExpense |
The Company believes that it is reasonably possible that the amount of unrecognized tax benefits will decrease in the next twelve months by approximately $ 21.0 million, involving international and state audits and settlements and expiring statutes of limitations. The Company does not anticipate significant increases to the reserve within the next twelve months. | text | 21.0 | monetaryItemType | text: <entity> 21.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company believes that it is reasonably possible that the amount of unrecognized tax benefits will decrease in the next twelve months by approximately $ 21.0 million, involving international and state audits and settlements and expiring statutes of limitations. The Company does not anticipate significant increases to the reserve within the next twelve months. </context> | us-gaap:IncreaseInUnrecognizedTaxBenefitsIsReasonablyPossible |
, which had previously been approved by Mylan shareholders. The 2020 Incentive Plan includes 72,500,000 shares of Viatris’ common stock authorized for grant pursuant to the 2020 Incentive Plan, which may include dividend payments payable in common stock on unvested shares granted under awards. No shares remain available for issuance under the 2003 LTIP, however, certain awards remain outstanding under the plan. The Board had approved an amendment to the 2020 Incentive Plan, subject to the approval of Viatris shareholders, to increase the maximum aggregate number of shares of Viatris common stock available for issuance under the 2020 Incentive Plan by 49,000,000 and on December 6, 2024, Viatris shareholders approved the amendment. | text | 72500000 | sharesItemType | text: <entity> 72500000 </entity> <entity type> sharesItemType </entity type> <context> , which had previously been approved by Mylan shareholders. The 2020 Incentive Plan includes 72,500,000 shares of Viatris’ common stock authorized for grant pursuant to the 2020 Incentive Plan, which may include dividend payments payable in common stock on unvested shares granted under awards. No shares remain available for issuance under the 2003 LTIP, however, certain awards remain outstanding under the plan. The Board had approved an amendment to the 2020 Incentive Plan, subject to the approval of Viatris shareholders, to increase the maximum aggregate number of shares of Viatris common stock available for issuance under the 2020 Incentive Plan by 49,000,000 and on December 6, 2024, Viatris shareholders approved the amendment. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
, which had previously been approved by Mylan shareholders. The 2020 Incentive Plan includes 72,500,000 shares of Viatris’ common stock authorized for grant pursuant to the 2020 Incentive Plan, which may include dividend payments payable in common stock on unvested shares granted under awards. No shares remain available for issuance under the 2003 LTIP, however, certain awards remain outstanding under the plan. The Board had approved an amendment to the 2020 Incentive Plan, subject to the approval of Viatris shareholders, to increase the maximum aggregate number of shares of Viatris common stock available for issuance under the 2020 Incentive Plan by 49,000,000 and on December 6, 2024, Viatris shareholders approved the amendment. | text | 49000000 | sharesItemType | text: <entity> 49000000 </entity> <entity type> sharesItemType </entity type> <context> , which had previously been approved by Mylan shareholders. The 2020 Incentive Plan includes 72,500,000 shares of Viatris’ common stock authorized for grant pursuant to the 2020 Incentive Plan, which may include dividend payments payable in common stock on unvested shares granted under awards. No shares remain available for issuance under the 2003 LTIP, however, certain awards remain outstanding under the plan. The Board had approved an amendment to the 2020 Incentive Plan, subject to the approval of Viatris shareholders, to increase the maximum aggregate number of shares of Viatris common stock available for issuance under the 2020 Incentive Plan by 49,000,000 and on December 6, 2024, Viatris shareholders approved the amendment. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized |
As of December 31, 2024, stock awards outstanding, stock awards vested and expected to vest and stock awards exercisable each had average remaining contractual terms of 3.1 years. Also, at December 31, 2024, stock awards outstanding, stock awards vested and expected to vest and stock awards exercisable had aggregate intrinsic values of $ 0.5 million, $ 0.5 million, and $ 0.3 million, respectively. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, stock awards outstanding, stock awards vested and expected to vest and stock awards exercisable each had average remaining contractual terms of 3.1 years. Also, at December 31, 2024, stock awards outstanding, stock awards vested and expected to vest and stock awards exercisable had aggregate intrinsic values of $ 0.5 million, $ 0.5 million, and $ 0.3 million, respectively. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested |
As of December 31, 2024, stock awards outstanding, stock awards vested and expected to vest and stock awards exercisable each had average remaining contractual terms of 3.1 years. Also, at December 31, 2024, stock awards outstanding, stock awards vested and expected to vest and stock awards exercisable had aggregate intrinsic values of $ 0.5 million, $ 0.5 million, and $ 0.3 million, respectively. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, stock awards outstanding, stock awards vested and expected to vest and stock awards exercisable each had average remaining contractual terms of 3.1 years. Also, at December 31, 2024, stock awards outstanding, stock awards vested and expected to vest and stock awards exercisable had aggregate intrinsic values of $ 0.5 million, $ 0.5 million, and $ 0.3 million, respectively. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 |
Of the 13,859,002 Restricted Stock Awards granted during the year ended December 31, 2024, 9,592,720 vest ratably in three years or less and are not subject to market or performance conditions. Of the remaining Restricted Stock Awards granted, 12,920 are not subject to market conditions and will cliff vest within a three-year period, and 4,253,362 are subject to market or performance conditions and will cliff vest in three years or less. | text | 13859002 | sharesItemType | text: <entity> 13859002 </entity> <entity type> sharesItemType </entity type> <context> Of the 13,859,002 Restricted Stock Awards granted during the year ended December 31, 2024, 9,592,720 vest ratably in three years or less and are not subject to market or performance conditions. Of the remaining Restricted Stock Awards granted, 12,920 are not subject to market conditions and will cliff vest within a three-year period, and 4,253,362 are subject to market or performance conditions and will cliff vest in three years or less. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
Of the 13,859,002 Restricted Stock Awards granted during the year ended December 31, 2024, 9,592,720 vest ratably in three years or less and are not subject to market or performance conditions. Of the remaining Restricted Stock Awards granted, 12,920 are not subject to market conditions and will cliff vest within a three-year period, and 4,253,362 are subject to market or performance conditions and will cliff vest in three years or less. | text | 9592720 | sharesItemType | text: <entity> 9592720 </entity> <entity type> sharesItemType </entity type> <context> Of the 13,859,002 Restricted Stock Awards granted during the year ended December 31, 2024, 9,592,720 vest ratably in three years or less and are not subject to market or performance conditions. Of the remaining Restricted Stock Awards granted, 12,920 are not subject to market conditions and will cliff vest within a three-year period, and 4,253,362 are subject to market or performance conditions and will cliff vest in three years or less. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
Of the 13,859,002 Restricted Stock Awards granted during the year ended December 31, 2024, 9,592,720 vest ratably in three years or less and are not subject to market or performance conditions. Of the remaining Restricted Stock Awards granted, 12,920 are not subject to market conditions and will cliff vest within a three-year period, and 4,253,362 are subject to market or performance conditions and will cliff vest in three years or less. | text | 12920 | sharesItemType | text: <entity> 12920 </entity> <entity type> sharesItemType </entity type> <context> Of the 13,859,002 Restricted Stock Awards granted during the year ended December 31, 2024, 9,592,720 vest ratably in three years or less and are not subject to market or performance conditions. Of the remaining Restricted Stock Awards granted, 12,920 are not subject to market conditions and will cliff vest within a three-year period, and 4,253,362 are subject to market or performance conditions and will cliff vest in three years or less. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
Of the 13,859,002 Restricted Stock Awards granted during the year ended December 31, 2024, 9,592,720 vest ratably in three years or less and are not subject to market or performance conditions. Of the remaining Restricted Stock Awards granted, 12,920 are not subject to market conditions and will cliff vest within a three-year period, and 4,253,362 are subject to market or performance conditions and will cliff vest in three years or less. | text | 4253362 | sharesItemType | text: <entity> 4253362 </entity> <entity type> sharesItemType </entity type> <context> Of the 13,859,002 Restricted Stock Awards granted during the year ended December 31, 2024, 9,592,720 vest ratably in three years or less and are not subject to market or performance conditions. Of the remaining Restricted Stock Awards granted, 12,920 are not subject to market conditions and will cliff vest within a three-year period, and 4,253,362 are subject to market or performance conditions and will cliff vest in three years or less. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
As of December 31, 2024, the Company had $ 163.4 million of total unrecognized compensation expense, net of estimated forfeitures, related to all of its stock-based awards, which we expect to recognize over the remaining weighted average vesting period of 1.4 years. The total intrinsic value of Restricted Stock Awards released and stock options exercised during the years ended December 31, 2024 and 2023 was $ 141.7 million and $ 169.2 million, respectively. | text | 163.4 | monetaryItemType | text: <entity> 163.4 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company had $ 163.4 million of total unrecognized compensation expense, net of estimated forfeitures, related to all of its stock-based awards, which we expect to recognize over the remaining weighted average vesting period of 1.4 years. The total intrinsic value of Restricted Stock Awards released and stock options exercised during the years ended December 31, 2024 and 2023 was $ 141.7 million and $ 169.2 million, respectively. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
The projected benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, but does not include the effects of estimated future pay increases. The accumulated benefit obligation for the Company’s pension plans was $ 1.29 billion and $ 1.36 billion at December 31, 2024 and 2023, respectively. | text | 1.29 | monetaryItemType | text: <entity> 1.29 </entity> <entity type> monetaryItemType </entity type> <context> The projected benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, but does not include the effects of estimated future pay increases. The accumulated benefit obligation for the Company’s pension plans was $ 1.29 billion and $ 1.36 billion at December 31, 2024 and 2023, respectively. </context> | us-gaap:DefinedBenefitPlanAccumulatedBenefitObligation |
The projected benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, but does not include the effects of estimated future pay increases. The accumulated benefit obligation for the Company’s pension plans was $ 1.29 billion and $ 1.36 billion at December 31, 2024 and 2023, respectively. | text | 1.36 | monetaryItemType | text: <entity> 1.36 </entity> <entity type> monetaryItemType </entity type> <context> The projected benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, but does not include the effects of estimated future pay increases. The accumulated benefit obligation for the Company’s pension plans was $ 1.29 billion and $ 1.36 billion at December 31, 2024 and 2023, respectively. </context> | us-gaap:DefinedBenefitPlanAccumulatedBenefitObligation |
The weighted-average healthcare cost trend rate used for 2024 was 8.6 % declining to a projected 4.0 % in the year 2048. For 2025, the assumed weighted-average healthcare cost trend rate used will be 8.7 % declining to a projected 4.0 % in the year 2049. In selecting rates for current and long-term healthcare cost assumptions, the Company takes into consideration a number of factors including the Company’s actual healthcare cost increases, the design of the Company’s benefit programs, the demographics of the Company’s active and retiree populations and external expectations of future medical cost inflation rates. | text | 8.6 | percentItemType | text: <entity> 8.6 </entity> <entity type> percentItemType </entity type> <context> The weighted-average healthcare cost trend rate used for 2024 was 8.6 % declining to a projected 4.0 % in the year 2048. For 2025, the assumed weighted-average healthcare cost trend rate used will be 8.7 % declining to a projected 4.0 % in the year 2049. In selecting rates for current and long-term healthcare cost assumptions, the Company takes into consideration a number of factors including the Company’s actual healthcare cost increases, the design of the Company’s benefit programs, the demographics of the Company’s active and retiree populations and external expectations of future medical cost inflation rates. </context> | us-gaap:DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear |
The weighted-average healthcare cost trend rate used for 2024 was 8.6 % declining to a projected 4.0 % in the year 2048. For 2025, the assumed weighted-average healthcare cost trend rate used will be 8.7 % declining to a projected 4.0 % in the year 2049. In selecting rates for current and long-term healthcare cost assumptions, the Company takes into consideration a number of factors including the Company’s actual healthcare cost increases, the design of the Company’s benefit programs, the demographics of the Company’s active and retiree populations and external expectations of future medical cost inflation rates. | text | 4.0 | percentItemType | text: <entity> 4.0 </entity> <entity type> percentItemType </entity type> <context> The weighted-average healthcare cost trend rate used for 2024 was 8.6 % declining to a projected 4.0 % in the year 2048. For 2025, the assumed weighted-average healthcare cost trend rate used will be 8.7 % declining to a projected 4.0 % in the year 2049. In selecting rates for current and long-term healthcare cost assumptions, the Company takes into consideration a number of factors including the Company’s actual healthcare cost increases, the design of the Company’s benefit programs, the demographics of the Company’s active and retiree populations and external expectations of future medical cost inflation rates. </context> | us-gaap:DefinedBenefitPlanUltimateHealthCareCostTrendRate1 |
The weighted-average healthcare cost trend rate used for 2024 was 8.6 % declining to a projected 4.0 % in the year 2048. For 2025, the assumed weighted-average healthcare cost trend rate used will be 8.7 % declining to a projected 4.0 % in the year 2049. In selecting rates for current and long-term healthcare cost assumptions, the Company takes into consideration a number of factors including the Company’s actual healthcare cost increases, the design of the Company’s benefit programs, the demographics of the Company’s active and retiree populations and external expectations of future medical cost inflation rates. | text | 8.7 | percentItemType | text: <entity> 8.7 </entity> <entity type> percentItemType </entity type> <context> The weighted-average healthcare cost trend rate used for 2024 was 8.6 % declining to a projected 4.0 % in the year 2048. For 2025, the assumed weighted-average healthcare cost trend rate used will be 8.7 % declining to a projected 4.0 % in the year 2049. In selecting rates for current and long-term healthcare cost assumptions, the Company takes into consideration a number of factors including the Company’s actual healthcare cost increases, the design of the Company’s benefit programs, the demographics of the Company’s active and retiree populations and external expectations of future medical cost inflation rates. </context> | us-gaap:DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear |
The Company maintains an Income Deferral Plan, which permits certain management or highly compensated employees who are designated by the plan administrator to participate in the Income Deferral Plan to elect to defer up to 50 % of base salary and up to 100 % of bonus compensation, in each case, in addition to any amounts that may be deferred by such participants under the Profit Sharing 401(k) Plan and the 401(k) Restoration Plan. In addition, under the Income Deferral Plan, eligible participants may be granted employee deferral awards, which awards will be subject to the terms and conditions (including vesting) as determined by the plan administrator at the time such awards are granted. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> The Company maintains an Income Deferral Plan, which permits certain management or highly compensated employees who are designated by the plan administrator to participate in the Income Deferral Plan to elect to defer up to 50 % of base salary and up to 100 % of bonus compensation, in each case, in addition to any amounts that may be deferred by such participants under the Profit Sharing 401(k) Plan and the 401(k) Restoration Plan. In addition, under the Income Deferral Plan, eligible participants may be granted employee deferral awards, which awards will be subject to the terms and conditions (including vesting) as determined by the plan administrator at the time such awards are granted. </context> | us-gaap:DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent |
The Company maintains an Income Deferral Plan, which permits certain management or highly compensated employees who are designated by the plan administrator to participate in the Income Deferral Plan to elect to defer up to 50 % of base salary and up to 100 % of bonus compensation, in each case, in addition to any amounts that may be deferred by such participants under the Profit Sharing 401(k) Plan and the 401(k) Restoration Plan. In addition, under the Income Deferral Plan, eligible participants may be granted employee deferral awards, which awards will be subject to the terms and conditions (including vesting) as determined by the plan administrator at the time such awards are granted. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> The Company maintains an Income Deferral Plan, which permits certain management or highly compensated employees who are designated by the plan administrator to participate in the Income Deferral Plan to elect to defer up to 50 % of base salary and up to 100 % of bonus compensation, in each case, in addition to any amounts that may be deferred by such participants under the Profit Sharing 401(k) Plan and the 401(k) Restoration Plan. In addition, under the Income Deferral Plan, eligible participants may be granted employee deferral awards, which awards will be subject to the terms and conditions (including vesting) as determined by the plan administrator at the time such awards are granted. </context> | us-gaap:DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent |
Total employer contributions to defined contribution plans were approximately $ 148.4 million, $ 129.3 million and $ 111.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 148.4 | monetaryItemType | text: <entity> 148.4 </entity> <entity type> monetaryItemType </entity type> <context> Total employer contributions to defined contribution plans were approximately $ 148.4 million, $ 129.3 million and $ 111.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Total employer contributions to defined contribution plans were approximately $ 148.4 million, $ 129.3 million and $ 111.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 129.3 | monetaryItemType | text: <entity> 129.3 </entity> <entity type> monetaryItemType </entity type> <context> Total employer contributions to defined contribution plans were approximately $ 148.4 million, $ 129.3 million and $ 111.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Total employer contributions to defined contribution plans were approximately $ 148.4 million, $ 129.3 million and $ 111.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 111.5 | monetaryItemType | text: <entity> 111.5 </entity> <entity type> monetaryItemType </entity type> <context> Total employer contributions to defined contribution plans were approximately $ 148.4 million, $ 129.3 million and $ 111.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Viatris has four reportable segments: Developed Markets, Greater China, JANZ, and Emerging Markets. The Company reports segment information on the basis of markets and geography, which reflects its focus on bringing its large and diversified portfolio of branded and generic products, including complex products, to people in markets everywhere. Our Developed Markets segment comprises our operations primarily in North America and Europe. Our Greater China segment includes our operations in mainland China, Taiwan and Hong Kong. Our JANZ segment consists of our operations in Japan, Australia and New Zealand. Our Emerging Markets segment encompasses our presence in more than 125 countries with developing markets and emerging economies including in Asia, Africa, Eastern Europe, Latin America and the Middle East as well as the Company’s ARV franchise. | text | four | integerItemType | text: <entity> four </entity> <entity type> integerItemType </entity type> <context> Viatris has four reportable segments: Developed Markets, Greater China, JANZ, and Emerging Markets. The Company reports segment information on the basis of markets and geography, which reflects its focus on bringing its large and diversified portfolio of branded and generic products, including complex products, to people in markets everywhere. Our Developed Markets segment comprises our operations primarily in North America and Europe. Our Greater China segment includes our operations in mainland China, Taiwan and Hong Kong. Our JANZ segment consists of our operations in Japan, Australia and New Zealand. Our Emerging Markets segment encompasses our presence in more than 125 countries with developing markets and emerging economies including in Asia, Africa, Eastern Europe, Latin America and the Middle East as well as the Company’s ARV franchise. </context> | us-gaap:NumberOfReportableSegments |
Since the initiation of the 2020 restructuring program, the Company has incurred total pre-tax charges of approximately $ 1.4 billion through December 31, 2023. Such charges included approximately $ 450 million of non-cash charges mainly related to accelerated depreciation and asset impairment charges, including inventory write-offs, and cash costs of approximately $ 950 million, primarily related to severance and employee benefits expense, as well as other costs, including those related to contract terminations and other plant disposal costs. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> Since the initiation of the 2020 restructuring program, the Company has incurred total pre-tax charges of approximately $ 1.4 billion through December 31, 2023. Such charges included approximately $ 450 million of non-cash charges mainly related to accelerated depreciation and asset impairment charges, including inventory write-offs, and cash costs of approximately $ 950 million, primarily related to severance and employee benefits expense, as well as other costs, including those related to contract terminations and other plant disposal costs. </context> | us-gaap:RestructuringCharges |
Since the initiation of the 2020 restructuring program, the Company has incurred total pre-tax charges of approximately $ 1.4 billion through December 31, 2023. Such charges included approximately $ 450 million of non-cash charges mainly related to accelerated depreciation and asset impairment charges, including inventory write-offs, and cash costs of approximately $ 950 million, primarily related to severance and employee benefits expense, as well as other costs, including those related to contract terminations and other plant disposal costs. | text | 450 | monetaryItemType | text: <entity> 450 </entity> <entity type> monetaryItemType </entity type> <context> Since the initiation of the 2020 restructuring program, the Company has incurred total pre-tax charges of approximately $ 1.4 billion through December 31, 2023. Such charges included approximately $ 450 million of non-cash charges mainly related to accelerated depreciation and asset impairment charges, including inventory write-offs, and cash costs of approximately $ 950 million, primarily related to severance and employee benefits expense, as well as other costs, including those related to contract terminations and other plant disposal costs. </context> | us-gaap:RestructuringReserveSettledWithoutCash2 |
Since the initiation of the 2020 restructuring program, the Company has incurred total pre-tax charges of approximately $ 1.4 billion through December 31, 2023. Such charges included approximately $ 450 million of non-cash charges mainly related to accelerated depreciation and asset impairment charges, including inventory write-offs, and cash costs of approximately $ 950 million, primarily related to severance and employee benefits expense, as well as other costs, including those related to contract terminations and other plant disposal costs. | text | 950 | monetaryItemType | text: <entity> 950 </entity> <entity type> monetaryItemType </entity type> <context> Since the initiation of the 2020 restructuring program, the Company has incurred total pre-tax charges of approximately $ 1.4 billion through December 31, 2023. Such charges included approximately $ 450 million of non-cash charges mainly related to accelerated depreciation and asset impairment charges, including inventory write-offs, and cash costs of approximately $ 950 million, primarily related to severance and employee benefits expense, as well as other costs, including those related to contract terminations and other plant disposal costs. </context> | us-gaap:RestructuringAndRelatedCostExpectedCostRemaining1 |
For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. | text | 80.3 | monetaryItemType | text: <entity> 80.3 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. | text | 29.5 | monetaryItemType | text: <entity> 29.5 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. | text | 13.9 | monetaryItemType | text: <entity> 13.9 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2023, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 80.3 million, $ 0.4 million, $ 29.5 million, $ 13.9 million, and $ 1.1 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. | text | 74.6 | monetaryItemType | text: <entity> 74.6 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. | text | 2.5 | monetaryItemType | text: <entity> 2.5 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. | text | 8.2 | monetaryItemType | text: <entity> 8.2 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. </context> | us-gaap:RestructuringCharges |
For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2022, total restructuring charges in Developed Markets, Greater China, JANZ, Emerging Markets, and Corporate/Other were approximately $ 74.6 million, $ 2.5 million, $ 0.9 million, $ 8.2 million and $ 0.3 million, respectively. </context> | us-gaap:RestructuringCharges |
In December 2023, the Company entered into a letter agreement, as amended, with Mapi for the development and commercialization of certain additional products, which is subject to finalization pending the execution of a definitive agreement. The Company made an initial upfront payment of $ 75.0 million which was accounted for as | text | 75.0 | monetaryItemType | text: <entity> 75.0 </entity> <entity type> monetaryItemType </entity type> <context> In December 2023, the Company entered into a letter agreement, as amended, with Mapi for the development and commercialization of certain additional products, which is subject to finalization pending the execution of a definitive agreement. The Company made an initial upfront payment of $ 75.0 million which was accounted for as </context> | us-gaap:PaymentsToAcquireInProcessResearchAndDevelopment |
. During the year ended December 31, 2023, the Company made an additional investment of $ 30.0 million in preferred shares of Mapi. The preferred shares are convertible on a one-to-one basis into Mapi ordinary shares at Viatris’ option. The Company recognized a gain of $ 45.6 million during the year ended December 31, 2023 as a result of remeasuring our pre-existing equity interest in Mapi, which was recorded as a component of | text | 30.0 | monetaryItemType | text: <entity> 30.0 </entity> <entity type> monetaryItemType </entity type> <context> . During the year ended December 31, 2023, the Company made an additional investment of $ 30.0 million in preferred shares of Mapi. The preferred shares are convertible on a one-to-one basis into Mapi ordinary shares at Viatris’ option. The Company recognized a gain of $ 45.6 million during the year ended December 31, 2023 as a result of remeasuring our pre-existing equity interest in Mapi, which was recorded as a component of </context> | us-gaap:VariableInterestEntityFinancialOrOtherSupportAmount |
. During the year ended December 31, 2023, the Company made an additional investment of $ 30.0 million in preferred shares of Mapi. The preferred shares are convertible on a one-to-one basis into Mapi ordinary shares at Viatris’ option. The Company recognized a gain of $ 45.6 million during the year ended December 31, 2023 as a result of remeasuring our pre-existing equity interest in Mapi, which was recorded as a component of | text | 45.6 | monetaryItemType | text: <entity> 45.6 </entity> <entity type> monetaryItemType </entity type> <context> . During the year ended December 31, 2023, the Company made an additional investment of $ 30.0 million in preferred shares of Mapi. The preferred shares are convertible on a one-to-one basis into Mapi ordinary shares at Viatris’ option. The Company recognized a gain of $ 45.6 million during the year ended December 31, 2023 as a result of remeasuring our pre-existing equity interest in Mapi, which was recorded as a component of </context> | us-gaap:EquitySecuritiesFvNiUnrealizedGainLoss |
, $ 132.1 million related to our equity investments in Mapi, which included cumulative unrealized gains of $ 62.1 million, and within | text | 132.1 | monetaryItemType | text: <entity> 132.1 </entity> <entity type> monetaryItemType </entity type> <context> , $ 132.1 million related to our equity investments in Mapi, which included cumulative unrealized gains of $ 62.1 million, and within </context> | us-gaap:OtherAssets |
, $ 132.1 million related to our equity investments in Mapi, which included cumulative unrealized gains of $ 62.1 million, and within | text | 62.1 | monetaryItemType | text: <entity> 62.1 </entity> <entity type> monetaryItemType </entity type> <context> , $ 132.1 million related to our equity investments in Mapi, which included cumulative unrealized gains of $ 62.1 million, and within </context> | us-gaap:GainLossOnInvestments |
, $ 52.5 million related to advances, including for initial orders of commercial launch supply of GA Depot under our supply agreement with Mapi. Our maximum exposure to loss as a result of our involvement with Mapi is limited to the carrying value of the investments and advances. In 2024, the Company was informed that Mapi received a Complete Response Letter (“CRL”) regarding the NDA for GA Depot 40 mg from the FDA. In December 2024, the companies met with the FDA and reviewed the content of the CRL. As a result of the meeting, Viatris and Mapi are discussing and determining the appropriate next steps for the program. We do not expect Mapi to generate positive operating cash or earnings unless and until marketing approval and commercial success for its development programs, particularly GA Depot, is attained. As a result of the additional uncertainty of regulatory and commercial timing and success of GA Depot and the financial condition of Mapi, the Company has impaired its equity investment and prepaid assets related to advances for the initial supply of commercial product. Total charges of $ 184.6 million were recorded during the year ended December 31, 2024 as a component of | text | 52.5 | monetaryItemType | text: <entity> 52.5 </entity> <entity type> monetaryItemType </entity type> <context> , $ 52.5 million related to advances, including for initial orders of commercial launch supply of GA Depot under our supply agreement with Mapi. Our maximum exposure to loss as a result of our involvement with Mapi is limited to the carrying value of the investments and advances. In 2024, the Company was informed that Mapi received a Complete Response Letter (“CRL”) regarding the NDA for GA Depot 40 mg from the FDA. In December 2024, the companies met with the FDA and reviewed the content of the CRL. As a result of the meeting, Viatris and Mapi are discussing and determining the appropriate next steps for the program. We do not expect Mapi to generate positive operating cash or earnings unless and until marketing approval and commercial success for its development programs, particularly GA Depot, is attained. As a result of the additional uncertainty of regulatory and commercial timing and success of GA Depot and the financial condition of Mapi, the Company has impaired its equity investment and prepaid assets related to advances for the initial supply of commercial product. Total charges of $ 184.6 million were recorded during the year ended December 31, 2024 as a component of </context> | us-gaap:PrepaidExpenseAndOtherAssetsCurrent |
, $ 52.5 million related to advances, including for initial orders of commercial launch supply of GA Depot under our supply agreement with Mapi. Our maximum exposure to loss as a result of our involvement with Mapi is limited to the carrying value of the investments and advances. In 2024, the Company was informed that Mapi received a Complete Response Letter (“CRL”) regarding the NDA for GA Depot 40 mg from the FDA. In December 2024, the companies met with the FDA and reviewed the content of the CRL. As a result of the meeting, Viatris and Mapi are discussing and determining the appropriate next steps for the program. We do not expect Mapi to generate positive operating cash or earnings unless and until marketing approval and commercial success for its development programs, particularly GA Depot, is attained. As a result of the additional uncertainty of regulatory and commercial timing and success of GA Depot and the financial condition of Mapi, the Company has impaired its equity investment and prepaid assets related to advances for the initial supply of commercial product. Total charges of $ 184.6 million were recorded during the year ended December 31, 2024 as a component of | text | 184.6 | monetaryItemType | text: <entity> 184.6 </entity> <entity type> monetaryItemType </entity type> <context> , $ 52.5 million related to advances, including for initial orders of commercial launch supply of GA Depot under our supply agreement with Mapi. Our maximum exposure to loss as a result of our involvement with Mapi is limited to the carrying value of the investments and advances. In 2024, the Company was informed that Mapi received a Complete Response Letter (“CRL”) regarding the NDA for GA Depot 40 mg from the FDA. In December 2024, the companies met with the FDA and reviewed the content of the CRL. As a result of the meeting, Viatris and Mapi are discussing and determining the appropriate next steps for the program. We do not expect Mapi to generate positive operating cash or earnings unless and until marketing approval and commercial success for its development programs, particularly GA Depot, is attained. As a result of the additional uncertainty of regulatory and commercial timing and success of GA Depot and the financial condition of Mapi, the Company has impaired its equity investment and prepaid assets related to advances for the initial supply of commercial product. Total charges of $ 184.6 million were recorded during the year ended December 31, 2024 as a component of </context> | us-gaap:AssetImpairmentCharges |
Under the terms of the agreements, Theravance Biopharma is eligible to receive potential development and sales milestone payments totaling approximately $ 293 million in the aggregate. As of December 31, 2024, the Company has paid a total of $ 50.0 million in milestone payments to Theravance Biopharma. | text | 50.0 | monetaryItemType | text: <entity> 50.0 </entity> <entity type> monetaryItemType </entity type> <context> Under the terms of the agreements, Theravance Biopharma is eligible to receive potential development and sales milestone payments totaling approximately $ 293 million in the aggregate. As of December 31, 2024, the Company has paid a total of $ 50.0 million in milestone payments to Theravance Biopharma. </context> | us-gaap:ResearchAndDevelopmentExpense |
The Company has a total accrual of approximately $ 20.5 million related to these matters at December 31, 2024, which is included in other current liabilities in the consolidated balance sheets. Although it is reasonably possible that the Company may incur additional losses from these matters, any amount cannot be reasonably estimated at this time. In addition, the Company expects to incur additional legal and other professional service expenses associated with such matters in future periods and will recognize these expenses as services are received. The Company believes that the ultimate amount paid for these services and claims could have a material effect on the Company's business, financial condition, results of operations, cash flows, ability to pay dividends or repurchase shares and/or stock price in future periods. | text | 20.5 | monetaryItemType | text: <entity> 20.5 </entity> <entity type> monetaryItemType </entity type> <context> The Company has a total accrual of approximately $ 20.5 million related to these matters at December 31, 2024, which is included in other current liabilities in the consolidated balance sheets. Although it is reasonably possible that the Company may incur additional losses from these matters, any amount cannot be reasonably estimated at this time. In addition, the Company expects to incur additional legal and other professional service expenses associated with such matters in future periods and will recognize these expenses as services are received. The Company believes that the ultimate amount paid for these services and claims could have a material effect on the Company's business, financial condition, results of operations, cash flows, ability to pay dividends or repurchase shares and/or stock price in future periods. </context> | us-gaap:LitigationReserve |
The Company has accrued approximately $ 270 million in connection with the possible resolution of certain of these matters at December 31, 2024, which is included in other current liabilities in the consolidated balance sheets. Although it is reasonably possible that the Company may incur additional losses from these matters, any amount cannot be reasonably estimated at this time. In addition, the Company expects to incur additional legal and other professional service expenses associated with such matters in future periods and will recognize these expenses as services are received. The Company believes that the ultimate amount paid for these services and claims could have a material effect on the Company's business, financial condition, results of operations, cash flows, ability to pay dividends or repurchase shares and/or stock price in future periods. | text | 270 | monetaryItemType | text: <entity> 270 </entity> <entity type> monetaryItemType </entity type> <context> The Company has accrued approximately $ 270 million in connection with the possible resolution of certain of these matters at December 31, 2024, which is included in other current liabilities in the consolidated balance sheets. Although it is reasonably possible that the Company may incur additional losses from these matters, any amount cannot be reasonably estimated at this time. In addition, the Company expects to incur additional legal and other professional service expenses associated with such matters in future periods and will recognize these expenses as services are received. The Company believes that the ultimate amount paid for these services and claims could have a material effect on the Company's business, financial condition, results of operations, cash flows, ability to pay dividends or repurchase shares and/or stock price in future periods. </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
The Company has accrued approximately € 12.7 million as of December 31, 2024 related to this matter. It is reasonably possible that we will incur additional losses above the amount accrued but we cannot estimate a range of such reasonably possible losses at this time. There are no assurances, however, that settlements reached and/or adverse judgments received, if any, will not exceed amounts accrued. | text | 12.7 | monetaryItemType | text: <entity> 12.7 </entity> <entity type> monetaryItemType </entity type> <context> The Company has accrued approximately € 12.7 million as of December 31, 2024 related to this matter. It is reasonably possible that we will incur additional losses above the amount accrued but we cannot estimate a range of such reasonably possible losses at this time. There are no assurances, however, that settlements reached and/or adverse judgments received, if any, will not exceed amounts accrued. </context> | us-gaap:LitigationReserve |
The Company has accrued approximately $ 70.1 million as of December 31, 2024 for its product liability matters. It is reasonably possible that we will incur additional losses and fees above the amount accrued but we cannot estimate a range of such reasonably possible losses or legal fees related to these claims at this time. There are no assurances, however, that settlements reached and/or adverse judgments received, if any, will not exceed amounts accrued. | text | 70.1 | monetaryItemType | text: <entity> 70.1 </entity> <entity type> monetaryItemType </entity type> <context> The Company has accrued approximately $ 70.1 million as of December 31, 2024 for its product liability matters. It is reasonably possible that we will incur additional losses and fees above the amount accrued but we cannot estimate a range of such reasonably possible losses or legal fees related to these claims at this time. There are no assurances, however, that settlements reached and/or adverse judgments received, if any, will not exceed amounts accrued. </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
The Company has approximately $ 2.9 million accrued related to its intellectual property matters at December 31, 2024. It is reasonably possible that we may incur additional losses and fees but we cannot estimate a range of such reasonably possible losses or legal fees related to these claims at this time. | text | 2.9 | monetaryItemType | text: <entity> 2.9 </entity> <entity type> monetaryItemType </entity type> <context> The Company has approximately $ 2.9 million accrued related to its intellectual property matters at December 31, 2024. It is reasonably possible that we may incur additional losses and fees but we cannot estimate a range of such reasonably possible losses or legal fees related to these claims at this time. </context> | us-gaap:LossContingencyDamagesPaidValue |
The Company is involved in various other legal proceedings including commercial, contractual, employment, or other similar matters that are considered normal to its business. The Company has approximately $ 5.7 million accrued related to these various other legal proceedings at December 31, 2024. | text | 5.7 | monetaryItemType | text: <entity> 5.7 </entity> <entity type> monetaryItemType </entity type> <context> The Company is involved in various other legal proceedings including commercial, contractual, employment, or other similar matters that are considered normal to its business. The Company has approximately $ 5.7 million accrued related to these various other legal proceedings at December 31, 2024. </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
Inventory costs include material, labor, and capitalized overhead. Inventories of $ 438.9 million and $ 465.5 million as of December 31, 2023 and 2022, respectively, were valued at the lower of cost or net realizable value using the last-in, first-out (“LIFO”) cost method. The remainder of inventory is valued at the lower of cost or net realizable value with cost determined primarily using either the first-in, first-out (“FIFO”) or average cost methods. | text | 438.9 | monetaryItemType | text: <entity> 438.9 </entity> <entity type> monetaryItemType </entity type> <context> Inventory costs include material, labor, and capitalized overhead. Inventories of $ 438.9 million and $ 465.5 million as of December 31, 2023 and 2022, respectively, were valued at the lower of cost or net realizable value using the last-in, first-out (“LIFO”) cost method. The remainder of inventory is valued at the lower of cost or net realizable value with cost determined primarily using either the first-in, first-out (“FIFO”) or average cost methods. </context> | us-gaap:LIFOInventoryAmount |
Inventory costs include material, labor, and capitalized overhead. Inventories of $ 438.9 million and $ 465.5 million as of December 31, 2023 and 2022, respectively, were valued at the lower of cost or net realizable value using the last-in, first-out (“LIFO”) cost method. The remainder of inventory is valued at the lower of cost or net realizable value with cost determined primarily using either the first-in, first-out (“FIFO”) or average cost methods. | text | 465.5 | monetaryItemType | text: <entity> 465.5 </entity> <entity type> monetaryItemType </entity type> <context> Inventory costs include material, labor, and capitalized overhead. Inventories of $ 438.9 million and $ 465.5 million as of December 31, 2023 and 2022, respectively, were valued at the lower of cost or net realizable value using the last-in, first-out (“LIFO”) cost method. The remainder of inventory is valued at the lower of cost or net realizable value with cost determined primarily using either the first-in, first-out (“FIFO”) or average cost methods. </context> | us-gaap:LIFOInventoryAmount |
We operate in two reportable business segments of the HVACR industry. Our segments are organized primarily by the nature of the products and services we provide. The following table describes each segment: | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> We operate in two reportable business segments of the HVACR industry. Our segments are organized primarily by the nature of the products and services we provide. The following table describes each segment: </context> | us-gaap:NumberOfReportableSegments |
Prior to January 1, 2023, we operated in three reportable business segments. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> Prior to January 1, 2023, we operated in three reportable business segments. </context> | us-gaap:NumberOfReportableSegments |
Previously, we operated in three reportable business segments. In November 2022, we announced the decision to explore strategic alternatives for our European portfolio and that we would continue to invest in our Heatcraft Worldwide Refrigeration business, all of which were previously in our Refrigeration segment. On January 1, 2023, we adjusted our segment presentation to better align with how the segments are managed and evaluated after the change in portfolio. Heatcraft Worldwide Refrigeration is now part of the Business Climate Solutions segment while the European portfolio is presented with Corporate and Other until disposition. Amounts presented in this table have been recast to reflect the revised segment presentation. In the fourth quarter of 2023, we successfully completed the divestiture of our European operations. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> Previously, we operated in three reportable business segments. In November 2022, we announced the decision to explore strategic alternatives for our European portfolio and that we would continue to invest in our Heatcraft Worldwide Refrigeration business, all of which were previously in our Refrigeration segment. On January 1, 2023, we adjusted our segment presentation to better align with how the segments are managed and evaluated after the change in portfolio. Heatcraft Worldwide Refrigeration is now part of the Business Climate Solutions segment while the European portfolio is presented with Corporate and Other until disposition. Amounts presented in this table have been recast to reflect the revised segment presentation. In the fourth quarter of 2023, we successfully completed the divestiture of our European operations. </context> | us-gaap:NumberOfReportableSegments |
On March 1, 2019, we entered into an agreement with a financial institution to renew the lease of our corporate headquarters in Richardson, Texas for a term of five years through March 1, 2024 (the “Lake Park Renewal”). The leased property consists of an office building of approximately 192,000 square feet, land and related improvements. In December 2023, we purchased the property for $ 41.2 million. | text | 41.2 | monetaryItemType | text: <entity> 41.2 </entity> <entity type> monetaryItemType </entity type> <context> On March 1, 2019, we entered into an agreement with a financial institution to renew the lease of our corporate headquarters in Richardson, Texas for a term of five years through March 1, 2024 (the “Lake Park Renewal”). The leased property consists of an office building of approximately 192,000 square feet, land and related improvements. In December 2023, we purchased the property for $ 41.2 million. </context> | us-gaap:PaymentsToAcquireRealEstate |
Our Board of Directors have authorized a total of $ 4 billion to repurchase shares of our common stock (collectively referred to as the “Share Repurchase Plans”), including a $ 1.0 billion share repurchase authorization in July 2021. The Share Repurchase Plans allow us to repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of December 31, 2023, $ 546 million of shares is available to repurchase shares under the Share Repurchase Plans. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> Our Board of Directors have authorized a total of $ 4 billion to repurchase shares of our common stock (collectively referred to as the “Share Repurchase Plans”), including a $ 1.0 billion share repurchase authorization in July 2021. The Share Repurchase Plans allow us to repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of December 31, 2023, $ 546 million of shares is available to repurchase shares under the Share Repurchase Plans. </context> | us-gaap:StockRepurchaseProgramAuthorizedAmount1 |
Our Board of Directors have authorized a total of $ 4 billion to repurchase shares of our common stock (collectively referred to as the “Share Repurchase Plans”), including a $ 1.0 billion share repurchase authorization in July 2021. The Share Repurchase Plans allow us to repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of December 31, 2023, $ 546 million of shares is available to repurchase shares under the Share Repurchase Plans. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> Our Board of Directors have authorized a total of $ 4 billion to repurchase shares of our common stock (collectively referred to as the “Share Repurchase Plans”), including a $ 1.0 billion share repurchase authorization in July 2021. The Share Repurchase Plans allow us to repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of December 31, 2023, $ 546 million of shares is available to repurchase shares under the Share Repurchase Plans. </context> | us-gaap:StockRepurchaseProgramAuthorizedAmount1 |
Our Board of Directors have authorized a total of $ 4 billion to repurchase shares of our common stock (collectively referred to as the “Share Repurchase Plans”), including a $ 1.0 billion share repurchase authorization in July 2021. The Share Repurchase Plans allow us to repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of December 31, 2023, $ 546 million of shares is available to repurchase shares under the Share Repurchase Plans. | text | 546 | monetaryItemType | text: <entity> 546 </entity> <entity type> monetaryItemType </entity type> <context> Our Board of Directors have authorized a total of $ 4 billion to repurchase shares of our common stock (collectively referred to as the “Share Repurchase Plans”), including a $ 1.0 billion share repurchase authorization in July 2021. The Share Repurchase Plans allow us to repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of December 31, 2023, $ 546 million of shares is available to repurchase shares under the Share Repurchase Plans. </context> | us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 |
We used $ 300 million to purchase 1.3 million shares of our common stock in 2022 and $ 600 million to purchase 1.9 million shares of our common stock in 2021. No shares were repurchased in 2023. The shares repurchased are held as treasury shares. | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> We used $ 300 million to purchase 1.3 million shares of our common stock in 2022 and $ 600 million to purchase 1.9 million shares of our common stock in 2021. No shares were repurchased in 2023. The shares repurchased are held as treasury shares. </context> | us-gaap:PaymentsForRepurchaseOfCommonStock |
We used $ 300 million to purchase 1.3 million shares of our common stock in 2022 and $ 600 million to purchase 1.9 million shares of our common stock in 2021. No shares were repurchased in 2023. The shares repurchased are held as treasury shares. | text | 1.3 | sharesItemType | text: <entity> 1.3 </entity> <entity type> sharesItemType </entity type> <context> We used $ 300 million to purchase 1.3 million shares of our common stock in 2022 and $ 600 million to purchase 1.9 million shares of our common stock in 2021. No shares were repurchased in 2023. The shares repurchased are held as treasury shares. </context> | us-gaap:SharesPaidForTaxWithholdingForShareBasedCompensation |
We used $ 300 million to purchase 1.3 million shares of our common stock in 2022 and $ 600 million to purchase 1.9 million shares of our common stock in 2021. No shares were repurchased in 2023. The shares repurchased are held as treasury shares. | text | 600 | monetaryItemType | text: <entity> 600 </entity> <entity type> monetaryItemType </entity type> <context> We used $ 300 million to purchase 1.3 million shares of our common stock in 2022 and $ 600 million to purchase 1.9 million shares of our common stock in 2021. No shares were repurchased in 2023. The shares repurchased are held as treasury shares. </context> | us-gaap:PaymentsForRepurchaseOfCommonStock |
We used $ 300 million to purchase 1.3 million shares of our common stock in 2022 and $ 600 million to purchase 1.9 million shares of our common stock in 2021. No shares were repurchased in 2023. The shares repurchased are held as treasury shares. | text | 1.9 | sharesItemType | text: <entity> 1.9 </entity> <entity type> sharesItemType </entity type> <context> We used $ 300 million to purchase 1.3 million shares of our common stock in 2022 and $ 600 million to purchase 1.9 million shares of our common stock in 2021. No shares were repurchased in 2023. The shares repurchased are held as treasury shares. </context> | us-gaap:SharesPaidForTaxWithholdingForShareBasedCompensation |
We recorded $ 3.1 million of restructuring charges in 2023 to reorganize or remove duplicative headcount and infrastructure. We recorded restructuring charges of $ 1.5 million in 2022 and $ 1.8 million in 2021 from activities initiated in prior years including the economic impact of COVID-19. There is not expected to be a material amount of costs incurred from existing restructuring actions in future periods. | text | 3.1 | monetaryItemType | text: <entity> 3.1 </entity> <entity type> monetaryItemType </entity type> <context> We recorded $ 3.1 million of restructuring charges in 2023 to reorganize or remove duplicative headcount and infrastructure. We recorded restructuring charges of $ 1.5 million in 2022 and $ 1.8 million in 2021 from activities initiated in prior years including the economic impact of COVID-19. There is not expected to be a material amount of costs incurred from existing restructuring actions in future periods. </context> | us-gaap:RestructuringCharges |
We recorded $ 3.1 million of restructuring charges in 2023 to reorganize or remove duplicative headcount and infrastructure. We recorded restructuring charges of $ 1.5 million in 2022 and $ 1.8 million in 2021 from activities initiated in prior years including the economic impact of COVID-19. There is not expected to be a material amount of costs incurred from existing restructuring actions in future periods. | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> We recorded $ 3.1 million of restructuring charges in 2023 to reorganize or remove duplicative headcount and infrastructure. We recorded restructuring charges of $ 1.5 million in 2022 and $ 1.8 million in 2021 from activities initiated in prior years including the economic impact of COVID-19. There is not expected to be a material amount of costs incurred from existing restructuring actions in future periods. </context> | us-gaap:RestructuringCharges |
We recorded $ 3.1 million of restructuring charges in 2023 to reorganize or remove duplicative headcount and infrastructure. We recorded restructuring charges of $ 1.5 million in 2022 and $ 1.8 million in 2021 from activities initiated in prior years including the economic impact of COVID-19. There is not expected to be a material amount of costs incurred from existing restructuring actions in future periods. | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> We recorded $ 3.1 million of restructuring charges in 2023 to reorganize or remove duplicative headcount and infrastructure. We recorded restructuring charges of $ 1.5 million in 2022 and $ 1.8 million in 2021 from activities initiated in prior years including the economic impact of COVID-19. There is not expected to be a material amount of costs incurred from existing restructuring actions in future periods. </context> | us-gaap:RestructuringCharges |
of Lennox stores or to independent distributors. For the years ended December 31, 2023, 2022 and 2021, direct sales represented 75 %, 70 % and 73 % of revenues, respectively, and sales to independent distributors represented the remainder. Given the nature of our business, customer product orders are fulfilled at a point in time and not over a period of time. | text | 75 | monetaryItemType | text: <entity> 75 </entity> <entity type> monetaryItemType </entity type> <context> of Lennox stores or to independent distributors. For the years ended December 31, 2023, 2022 and 2021, direct sales represented 75 %, 70 % and 73 % of revenues, respectively, and sales to independent distributors represented the remainder. Given the nature of our business, customer product orders are fulfilled at a point in time and not over a period of time. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
of Lennox stores or to independent distributors. For the years ended December 31, 2023, 2022 and 2021, direct sales represented 75 %, 70 % and 73 % of revenues, respectively, and sales to independent distributors represented the remainder. Given the nature of our business, customer product orders are fulfilled at a point in time and not over a period of time. | text | 70 | monetaryItemType | text: <entity> 70 </entity> <entity type> monetaryItemType </entity type> <context> of Lennox stores or to independent distributors. For the years ended December 31, 2023, 2022 and 2021, direct sales represented 75 %, 70 % and 73 % of revenues, respectively, and sales to independent distributors represented the remainder. Given the nature of our business, customer product orders are fulfilled at a point in time and not over a period of time. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
of Lennox stores or to independent distributors. For the years ended December 31, 2023, 2022 and 2021, direct sales represented 75 %, 70 % and 73 % of revenues, respectively, and sales to independent distributors represented the remainder. Given the nature of our business, customer product orders are fulfilled at a point in time and not over a period of time. | text | 73 | monetaryItemType | text: <entity> 73 </entity> <entity type> monetaryItemType </entity type> <context> of Lennox stores or to independent distributors. For the years ended December 31, 2023, 2022 and 2021, direct sales represented 75 %, 70 % and 73 % of revenues, respectively, and sales to independent distributors represented the remainder. Given the nature of our business, customer product orders are fulfilled at a point in time and not over a period of time. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
- In North America, we manufacture and sell unitary heating and cooling equipment used in light commercial applications, such as low-rise office buildings, restaurants, retail centers, churches and schools. These products are distributed primarily through commercial contractors and directly to national account customers in the planned replacement, emergency replacement and new construction markets. We manufacture and market equipment for the commercial refrigeration markets under the Heatcraft Worldwide Refrigeration name. Our products are used in the food retail, food service, cold storage as well as non-food refrigeration markets. We sell these products to distributors, installing contractors, engineering design firms, original equipment manufacturers and end-users. Lennox National Account Services provides installation, service and preventive maintenance for HVAC national account customers in the United States and Canada. AES manufactures curb, curb adapters, drop box diffusers and also offers HVAC recycling and salvage services, as well as focusing on multi-family HVAC replacement for expired mechanical assets. Revenue related to service contracts is recognized as the services are performed under the contract based on the relative fair value of the services provided. For the years ended December 31, 2023, 2022 and 2021, equipment sales represented 86 %, 82 % and 82 % of revenues, resp | text | 86 | percentItemType | text: <entity> 86 </entity> <entity type> percentItemType </entity type> <context> - In North America, we manufacture and sell unitary heating and cooling equipment used in light commercial applications, such as low-rise office buildings, restaurants, retail centers, churches and schools. These products are distributed primarily through commercial contractors and directly to national account customers in the planned replacement, emergency replacement and new construction markets. We manufacture and market equipment for the commercial refrigeration markets under the Heatcraft Worldwide Refrigeration name. Our products are used in the food retail, food service, cold storage as well as non-food refrigeration markets. We sell these products to distributors, installing contractors, engineering design firms, original equipment manufacturers and end-users. Lennox National Account Services provides installation, service and preventive maintenance for HVAC national account customers in the United States and Canada. AES manufactures curb, curb adapters, drop box diffusers and also offers HVAC recycling and salvage services, as well as focusing on multi-family HVAC replacement for expired mechanical assets. Revenue related to service contracts is recognized as the services are performed under the contract based on the relative fair value of the services provided. For the years ended December 31, 2023, 2022 and 2021, equipment sales represented 86 %, 82 % and 82 % of revenues, resp </context> | us-gaap:ConcentrationRiskPercentage1 |
- In North America, we manufacture and sell unitary heating and cooling equipment used in light commercial applications, such as low-rise office buildings, restaurants, retail centers, churches and schools. These products are distributed primarily through commercial contractors and directly to national account customers in the planned replacement, emergency replacement and new construction markets. We manufacture and market equipment for the commercial refrigeration markets under the Heatcraft Worldwide Refrigeration name. Our products are used in the food retail, food service, cold storage as well as non-food refrigeration markets. We sell these products to distributors, installing contractors, engineering design firms, original equipment manufacturers and end-users. Lennox National Account Services provides installation, service and preventive maintenance for HVAC national account customers in the United States and Canada. AES manufactures curb, curb adapters, drop box diffusers and also offers HVAC recycling and salvage services, as well as focusing on multi-family HVAC replacement for expired mechanical assets. Revenue related to service contracts is recognized as the services are performed under the contract based on the relative fair value of the services provided. For the years ended December 31, 2023, 2022 and 2021, equipment sales represented 86 %, 82 % and 82 % of revenues, resp | text | 82 | percentItemType | text: <entity> 82 </entity> <entity type> percentItemType </entity type> <context> - In North America, we manufacture and sell unitary heating and cooling equipment used in light commercial applications, such as low-rise office buildings, restaurants, retail centers, churches and schools. These products are distributed primarily through commercial contractors and directly to national account customers in the planned replacement, emergency replacement and new construction markets. We manufacture and market equipment for the commercial refrigeration markets under the Heatcraft Worldwide Refrigeration name. Our products are used in the food retail, food service, cold storage as well as non-food refrigeration markets. We sell these products to distributors, installing contractors, engineering design firms, original equipment manufacturers and end-users. Lennox National Account Services provides installation, service and preventive maintenance for HVAC national account customers in the United States and Canada. AES manufactures curb, curb adapters, drop box diffusers and also offers HVAC recycling and salvage services, as well as focusing on multi-family HVAC replacement for expired mechanical assets. Revenue related to service contracts is recognized as the services are performed under the contract based on the relative fair value of the services provided. For the years ended December 31, 2023, 2022 and 2021, equipment sales represented 86 %, 82 % and 82 % of revenues, resp </context> | us-gaap:ConcentrationRiskPercentage1 |
For the years ended December 31, 2023, 2022, and 2021 we recognized revenue of $ 7.7 million, $ 10.1 million and $ 3.6 million related to our contract liabilities at January 1, 2023, 2022 and 2021, respectively. Impairment losses recognized in our receivables and contract assets were de minimis in 2023, 2022 and 2021. | text | 7.7 | monetaryItemType | text: <entity> 7.7 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022, and 2021 we recognized revenue of $ 7.7 million, $ 10.1 million and $ 3.6 million related to our contract liabilities at January 1, 2023, 2022 and 2021, respectively. Impairment losses recognized in our receivables and contract assets were de minimis in 2023, 2022 and 2021. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
For the years ended December 31, 2023, 2022, and 2021 we recognized revenue of $ 7.7 million, $ 10.1 million and $ 3.6 million related to our contract liabilities at January 1, 2023, 2022 and 2021, respectively. Impairment losses recognized in our receivables and contract assets were de minimis in 2023, 2022 and 2021. | text | 10.1 | monetaryItemType | text: <entity> 10.1 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022, and 2021 we recognized revenue of $ 7.7 million, $ 10.1 million and $ 3.6 million related to our contract liabilities at January 1, 2023, 2022 and 2021, respectively. Impairment losses recognized in our receivables and contract assets were de minimis in 2023, 2022 and 2021. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
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