Emergent BioSolutions (EBS) 10-Q 28 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-33137
Entity Registrant Name	EMERGENT BIOSOLUTIONS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	14-1902018
Entity Address, Address Line One	400 Professional Drive Suite 400
Entity Address, City or Town	Gaithersburg,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20879
City Area Code	240
Local Phone Number	631-3200
Title of 12(b) Security	Common Stock, Par Value $0.001 per share
Trading Symbol	EBS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		50,243,624
Entity Central Index Key	0001367644
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 435.8	$ 576.1
Restricted cash	0.2	0.2
Accounts receivable, net	181.8	274.7
Inventories, net	400.7	350.8
Prepaid expenses and other current assets	81.8	70.3
Total current assets	1,100.3	1,272.1
Property, plant and equipment, net	807.5	800.1
Intangible assets, net	590.6	604.6
Goodwill	224.9	224.9
Other assets	57.1	57.3
Total assets	2,780.4	2,959
Current liabilities:
Accounts payable	107.3	128.9
Accrued expenses	29.3	51.7
Accrued compensation	56.4	88.7
Debt, current portion	31.6	31.6
Other current liabilities	24.6	72.9
Total current liabilities	249.2	373.8
Contingent consideration, net of current portion	4.4	4.5
Debt, net of current portion	801.5	809.4
Deferred tax liability	94.8	94.9
Contract liabilities, net of current portion	5.9	4.7
Other liabilities	49.3	52.7
Total liabilities	1,205.1	1,340
Stockholders' equity:
Preferred stock, $0.001 par value; 15.0 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.001 par value; 200.0 shares authorized, 55.3 and 55.1 shares issued; 50.4 and 51.3 shares outstanding, respectively	0.1	0.1
Treasury stock, at cost, 4.9 and 3.8 common shares, respectively	(204.4)	(152.2)
Additional paid-in capital	834.8	829.4
Accumulated other comprehensive loss, net	(9.3)	(16.1)
Retained earnings	954.1	957.8
Total stockholders' equity	1,575.3	1,619
Total liabilities and stockholders' equity	$ 2,780.4	$ 2,959

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	55,300,000	55,100,000
Common stock, shares outstanding (in shares)	50,400,000	51,300,000
Treasury stock (in shares)	4,900,000	3,800,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Total revenues	$ 307.5	$ 343
Operating expenses:
Research and development	46.4	52.5
Selling, general and administrative	84.8	80.9
Amortization of intangible assets	14	14.9
Total operating expenses	301.1	247.6
Income (loss) from operations	6.4	95.4
Other income (expense):
Interest expense	(8.2)	(8.5)
Other, net	(2)	(1.7)
Total other income (expense), net	(10.2)	(10.2)
Income (loss) before income taxes	(3.8)	85.2
Income taxes	0.1	(15.5)
Net income (loss)	$ (3.7)	$ 69.7
Net income (loss) per common share
Basic (in dollars per share)	$ (0.07)	$ 1.31
Diluted (in dollars per share)	$ (0.07)	$ 1.28
Shares used in computing net income (loss) per common share
Basic (in shares)	50.7	53.3
Diluted (in shares)	50.7	54.5
Product sales, net
Revenues:
Services	$ 237.1	$ 137.9
Operating expenses:
Cost of goods and services sold	80.3	52.6
Total contract development and manufacturing
Revenues:
Total contract development and manufacturing	60.8	183.8
Services
Revenues:
Services	51.8	67.6
Operating expenses:
Cost of goods and services sold	75.6	46.7
Leases
Revenues:
Leases	9	116.2
Contracts and grants
Revenues:
Services	$ 9.6	$ 21.3

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (3.7)	$ 69.7
Other comprehensive income (loss), net of tax:
Foreign currency translation	0.5	(2.2)
Unrealized gains (losses) on hedging activities	6.3	3.1
Total other comprehensive income (loss), net of tax	6.8	0.9
Comprehensive income (loss), net of tax	$ 3.1	$ 70.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows (used in) provided by operating activities:
Net income (loss)	$ (3.7)	$ 69.7
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Share-based compensation expense	9.9	10.5
Depreciation and amortization	30.9	28.7
Change in fair value of contingent consideration, net	0.5	1.1
Amortization of deferred financing costs	1	1
Deferred income taxes	1.9	(1.7)
Other	0.6	3.5
Changes in operating assets and liabilities:
Accounts receivable	93.7	42.1
Inventories	(50.1)	(99.9)
Prepaid expenses and other assets	(16.6)	(10)
Accounts payable	(14.7)	20.1
Accrued expenses and other liabilities	(56.5)	(40)
Accrued compensation	(32.2)	(29.4)
Contract liabilities	(2)	9.4
Net cash (used in) provided by operating activities:	(37.3)	5.1
Cash flows used in investing activities:
Purchases of property, plant and equipment	(32.2)	(56.1)
Net cash used in investing activities:	(32.2)	(56.1)
Cash flows used in financing activities:
Purchases of treasury stock	(57.5)	0
Principal payments on term loan facility	(8.5)	(5.6)
Principal payments on convertible senior notes	0	(10.6)
Proceeds from share-based compensation activity	0.5	6.9
Taxes paid for share-based compensation activity	(5)	(12.2)
Contingent consideration payments	0	(0.7)
Net cash used in financing activities:	(70.5)	(22.2)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(0.3)	(0.3)
Net change in cash, cash equivalents and restricted cash	(140.3)	(73.5)
Cash, cash equivalents and restricted cash at beginning of period	576.3	621.5
Cash, cash equivalents and restricted cash at end of period	436	548
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	11.7	12.4
Cash paid during the period for income taxes	4.8	1.5
Supplemental information on non-cash investing and financing activities:
Purchases of property, plant and equipment unpaid at period end	13.3	32.5
Purchases of treasury stock	1.3	0
Reconciliation of cash and cash equivalents and restricted cash at March 31, 2022 and December 31, 2021:
Cash and cash equivalents	435.8
Restricted cash	0.2
Total	$ 436	$ 548

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	$0.001 Par Value Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Balance (in shares) at Dec. 31, 2020		54,300,000		1,200,000
Beginning balance at Dec. 31, 2020	$ 1,447	$ 0.1	$ 784.9	$ (39.6)	$ (25.3)	$ 726.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity (in shares)		500,000
Share-based compensation activity	5.2		5.2
Net income (loss)	69.7					69.7
Other comprehensive income (loss), net of tax	0.9				0.9
Balance (in shares) at Mar. 31, 2021		54,800,000		1,200,000
Ending balance at Mar. 31, 2021	$ 1,522.8	$ 0.1	790.1	$ (39.6)	(24.4)	796.6
Balance (in shares) at Dec. 31, 2021	55,100,000	55,100,000		3,800,000
Beginning balance at Dec. 31, 2021	$ 1,619	$ 0.1	829.4	$ (152.2)	(16.1)	957.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity (in shares)		200,000
Share-based compensation activity	5.4		5.4
Net income (loss)	(3.7)					(3.7)
Repurchases of stock (in shares)				(1,100,000)
Repurchases of stock	(52.2)			$ (52.2)
Other comprehensive income (loss), net of tax	$ 6.8				6.8
Balance (in shares) at Mar. 31, 2022	55,300,000	55,300,000		4,900,000
Ending balance at Mar. 31, 2022	$ 1,575.3	$ 0.1	$ 834.8	$ (204.4)	$ (9.3)	$ 954.1

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001

Business

Business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	Business Overview Emergent BioSolutions Inc. (the Company or Emergent) is a global life sciences company focused on providing innovative preparedness and response solutions addressing accidental, deliberate, and naturally occurring Public Health Threats (PHTs). The Company's solutions include a product portfolio, a product development portfolio, and a contract development and manufacturing (CDMO) services portfolio. The Company is focused on the following five distinct PHT categories: chemical, biological, radiological, nuclear and explosives (CBRNE); emerging infectious diseases (EID); travel health; emerging health crises; and acute/emergency care. The Company has a product portfolio of eleven products (vaccines, therapeutics, and drug-device combination products) that contribute a substantial portion of its revenue. The Company has one product candidate that is procured under special circumstances by the U.S. government (USG), although it is not approved by the U.S. Food and Drug Administration (FDA). The Company structures the business with a focus on markets and customers. As such, the key components of the business structure include a Government - Medical Countermeasures (MCM) business line, a Commercial business line and a Services line focused on CDMO. The Company's products and services include: Government - MCM Products ▪ AV7909 ® , is a procured product candidate being developed as a next generation anthrax vaccine for post-exposure prophylaxis of disease resulting from suspected or confirmed Bacillus anthracis exposure. The USG has largely switched from procuring BioThrax to AV7909 for the Strategic National Stockpile (SNS) prior to its approval by the FDA; and ▪ BioThrax ® , the only vaccine licensed by the FDA, for the general use prophylaxis and post-exposure prophylaxis of anthrax disease; ▪ ACAM2000 ® , the only single-dose smallpox vaccine licensed by the FDA for active immunization against smallpox disease for persons determined to be at high risk for smallpox infection; ▪ BAT ® , the only heptavalent antitoxin licensed by the FDA and Health Canada for the treatment of botulism; and; ▪ CNJ-016 ® , also referred to as VIGIV, the only polyclonal antibody therapeutic licensed by the FDA and Health Canada to address certain complications from smallpox vaccination. ▪ Raxibacumab injection, a fully human monoclonal antibody therapeutic licensed by the FDA for the treatment and prophylaxis of inhalational anthrax; ▪ Anthrasil ® , the only polyclonal antibody therapeutic licensed by the FDA and Health Canada for the treatment of inhalational anthrax; ▪ RSDL ® , the only medical device cleared by the FDA to remove or neutralize the following chemical warfare agents from the skin: tabun, sarin, soman, cyclohexyl sarin, VR, VX, mustard gas, and T-2 toxin. ▪ Trobigard ® atropine sulfate, obidoxime chloride AUTO-INJECTOR, is a combination drug-device auto-injector procured product candidate that contains atropine sulfate and obidoxime chloride. It has not been approved by the FDA, but it is procured by certain authorized government buyers under special circumstances for potential use as a nerve agent countermeasure. Commercial Products ▪ NARCAN ® (naloxone HCl) Nasal Spray, the first needle-free formulation of naloxone approved by the FDA and Health Canada, for the emergency treatment of known or suspected opioid overdose as manifested by respiratory and/or central nervous system depression; Recently, the Company licensed an authorized generic of naloxone nasal spray to Sandoz; and ▪ Vaxchora ® (Cholera Vaccine, Live, Oral), the only single-dose oral vaccine licensed by the FDA and the European Medicines Agency (EMA) for the prevention of cholera; and ▪ Vivotif ® (Typhoid Vaccine Live Oral Ty21a), the only oral vaccine licensed by the FDA for the prevention of typhoid fever. Services - Contract Development and Manufacturing The Company's services line focused on CDMO offerings cover development services, drug substance manufacturing, drug product manufacturing, and when necessary, suite reservations, which depending on facts and circumstances could be considered a lease. These services are provided across the pharmaceutical and biotechnology industries as well as the USG and non-governmental organizations. The Company's technology platforms include mammalian, microbial, viral, plasma and advanced therapies utilizing the Company's core capabilities for manufacturing to third parties on a clinical and commercial (small and large) scale. Additional services include fill/finish formulation and analytical development services for injectable and other sterile products, inclusive of process design, technical transfer, manufacturing validations, aseptic filling, lyophilization, final packaging and stability studies, as well as manufacturing of vial and pre-filled syringe formats on multiple platforms. The Company operates as two operating segments: 1) a products segment (Products) consisting of the Government - MCM and Commercial business lines and a services segment (Services) focused on CDMO (Note 14, Segment information).

Basis of presentation and princ

Basis of presentation and principles of consolidation	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation Basis of presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Emergent and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC. All adjustments contained in the accompanying unaudited condensed consolidated financial statements are of a normal recurring nature and are necessary to present fairly the financial position of the Company as of March 31, 2022. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year. Significant accounting policies During the three months ended March 31, 2022, there have been no significant changes to the Company's summary of significant accounting policies contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC that have materially impacted the presentation of the Company's financial statements. During the three months ended March 31, 2022, the Company revised the reporting that the Chief Operating Decision Maker (CODM) reviews in order to assess Company performance. The CODM manages the business with a focus on two reportable segments: 1) a products segment (Products) consisting of the Government - MCM and Commercial business lines and 2) the services segment focused on CDMO (Services). This change is further outlined in Note 14, Segment information. Fair value measurements Separate disclosure is required for assets and liabilities measured at fair value on a recurring basis from those measured at fair value on a non-recurring basis. The Company has cash held in money market accounts (level 1) and time deposits (level 2), contingent purchase consideration (level 3) and interest rate swaps arrangements (level 2) that are measured at fair value on a recurring basis (Note 7, Fair value measurements and Note 8, Derivative instruments and hedging activities). On a non-recurring basis, the Company measures its long-lived assets as part of impairment evaluations using fair value measurements. Goodwill is allocated to the Company's reporting units, which are one level below its operating segments. The Company evaluates goodwill and other indefinite-lived intangible assets for impairment annually as of October 1 and earlier if an event or other circumstance indicates that the carrying value of the asset may not be recoverable. If the Company believes that as a result of its qualitative assessment it is more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, the quantitative impairment test is not required. If however it is determined that it is not more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, a quantitative test is required. Long-lived assets such as intangible assets and property, plant and equipment are not required to be tested for impairment annually. Instead, long-lived assets are tested for impairment whenever circumstances indicate that the carrying amount of the asset may not be recoverable, such as when there is an adverse change in the market relating to those related assets. The impairment test first requires a comparison of undiscounted future cash flows to the carrying value of the asset. Determining the need for a detailed impairment analysis requires the exercise of judgment about several business factors, including the timing of expected future cash flows and assumptions about the economic environment. As of March 31, 2022 and December 31, 2021, the Company had no other significant assets or liabilities that were measured at fair value. Recently issued accounting standards From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) that the Company adopts as of the pronouncement's specified effective date. Unless otherwise discussed below, the Company does not believe that the adoption of recently issued standards have or may have a material impact on the consolidated financial statements or disclosures. Not Yet Adopted ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Inventories, net

Inventories, net	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventory, net consisted of the following: March 31, 2022 December 31, 2021 Raw materials and supplies $ 244.1 $ 217.5 Work-in-process 106.0 95.8 Finished goods 50.6 37.5 Total inventories, net $ 400.7 $ 350.8

Property, plant and equipment,

Property, plant and equipment, net	3 Months Ended
	Mar. 31, 2022
Property Plant and Equipment Income Statement Disclosures [Abstract]
Property, plant and equipment	Property, plant and equipment, net Property, plant and equipment, net consisted of the following: March 31, 2022 December 31, 2021 Land and improvements $ 51.9 $ 52.1 Buildings, building improvements and leasehold improvements 286.9 269.7 Furniture and equipment 527.9 513.5 Software 62.5 60.7 Construction-in-progress 208.1 223.2 Property, plant and equipment, gross $ 1,137.3 $ 1,119.2 Less: Accumulated depreciation & amortization (329.8) (319.1) Total property, plant and equipment, net $ 807.5 $ 800.1

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases The Company is the lessee for operating leases for offices, research and development facilities and manufacturing facilities. The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use (ROU) assets and liabilities. For a discussion of lessor activities, see Note 10, Revenue recognition. The components of lease expense were as follows: Three Months Ended March 31, 2022 2021 Operating lease cost: Amortization of right-of-use assets $ 1.4 $ 1.3 Interest on lease liabilities 0.3 0.4 Total operating lease cost $ 1.7 $ 1.7 Operating lease costs are reflected as components of cost of product sales, cost of contract development and manufacturing, research and development expense and selling, general and administrative expense. Supplemental balance sheet information related to lessee activities is as follows: (In millions, except lease term and discount rate) Balance Sheet location March 31, 2022 December 31, 2021 Operating lease right-of-use assets Other assets $ 26.9 $ 28.3 Operating lease liabilities, current portion Other current liabilities 5.8 5.8 Operating lease liabilities Other liabilities 22.6 24.2 Total operating lease liabilities $ 28.4 $ 30.0 Operating leases: Weighted average remaining lease term (years) 6.8 7.0 Weighted average discount rate 4.1 % 4.1 %

Intangible assets

Intangible assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets The Company's intangible assets consist of products acquired via business combinations or asset acquisitions. The following table summarizes the Company's intangible assets for the periods ended March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Asset Type Estimated Life Cost Accumulated Amortization Net Cost Accumulated Amortization Net Products 9-22 years $ 798.0 $ 207.4 $ 590.6 $ 798.0 $ 193.5 $ 604.5 Customer relationships 8 years 28.6 28.6 — 28.6 28.6 — CDMO 8 years 5.5 5.5 — 5.5 5.4 0.1 Total intangible assets $ 832.1 $ 241.5 $ 590.6 $ 832.1 $ 227.5 $ 604.6 Amortization expense associated with the Company's intangible assets was recorded as follows: Three Months Ended March 31, 2022 2021 Amortization Expense $ 14.0 $ 14.9 As of March 31, 2022, the weighted average amortization period remaining for intangible assets was 11.7 years. The following table provides a roll forward of changes in our goodwill balance: Goodwill, December 31, 2021 $ 224.9 Foreign currency translation — Goodwill, March 31, 2022 $ 224.9

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements The table below presents information about the Company's assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques we utilized to determine fair value: March 31, 2022 December 31, 2021 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Money market accounts $ 7.4 7.4 — $ — $ 152.4 152.4 — $ — Time deposits 250.2 — 250.2 — 200.0 — 200.0 — Derivative instruments 2.5 — 2.5 — — — — — Total $ 260.1 7.4 252.7 $ — $ 352.4 152.4 200.0 $ — Liabilities: Contingent consideration $ 7.6 — — $ 7.6 $ 37.2 — — $ 37.2 Derivative instruments — — — — 6.1 — 6.1 — Total $ 7.6 — — $ 7.6 $ 43.3 — 6.1 $ 37.2 Contingent consideration Contingent consideration liabilities associated with business combinations are measured at fair value. These liabilities represent an obligation of the Company to transfer additional assets to the selling shareholders and owners if future events occur or conditions are met. These liabilities associated with business combinations are measured at fair value at inception and at each subsequent reporting date. The changes in the fair value are primarily due to the expected amount and timing of future net sales, which are inputs that have no observable market. Any changes in fair value for the contingent consideration liabilities related to the Company’s products are classified in the Company's statement of operations as cost of product sales. The following table is a reconciliation of the beginning and ending balance of contingent considerations. Balance at December 31, 2021 $ 37.2 Change in fair value 0.5 Settlements (30.1) Balance at March 31, 2022 $ 7.6 As of March 31, 2022 and December 31, 2021, the current portion of the contingent consideration liability was $3.2 million and $32.7 million, respectively, and was included in other current liabilities on the condensed consolidated balance sheets. The recurring Level 3 fair value measurements for the Company's contingent consideration liability include the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of March 31, 2022 Valuation Technique Unobservable Input Range Weighted Average Revenue milestone and royalty based $7.6 million Discounted cash flow Discount rate 8.3% 8.3% Probability of payment 25% - 50% 37.7% Projected year of payment 2022 - 2028 2024 Derivative instruments Refer to Note 8, Derivative instruments and hedging activities , to these condensed consolidated financial statements. Non-variable rate debt As of March 31, 2022 and December 31, 2021, t he fair value of the Company's 3.875% Senior Unsecured Notes was $403.7 million and $433.3 million. The fair value was determined through market sources, which are level 2 inputs and directly observable.

Derivative instruments and hedg

Derivative instruments and hedging activities	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	Derivative instruments and hedging activities Risk management objective of using derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company has entered into interest rate swaps to manage exposures that arise from the Company's senior secured credit agreement's payments of variable interest rate debt. If current fair values of designated interest rate swaps remained static over the next twelve months, the Company would reclassify $0.2 million of net deferred gains from accumulated other comprehensive income (loss) into the condensed consolidated statement of operations over the next twelve month period. All outstanding cash flow hedges mature in October 2023. As of March 31, 2022, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: (in millions, except number of instruments) Number of Instruments Notional Interest rate swaps 7 $ 350.0 The table below presents the fair value of the Company’s derivative financial instruments designated as hedges as well as their classification on the balance sheets. Asset Derivatives Liability Derivatives March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest Rate Swaps Other Current Assets $ 0.2 Other Current Assets $ — Other Current Liabilities $ — Other Current Liabilities $ 4.5 Other Assets $ 2.3 Other Assets $ — Other Liabilities $ — Other Liabilities $ 1.6 The valuation of the interest rate swaps is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each interest rate swap. This analysis reflects the contractual terms of the interest rate swaps, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments (or receipts) and the discounted expected variable cash receipts (or payments). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. We incorporate credit valuation adjustments in the fair value measurements to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk. These credit valuation adjustments were not significant inputs for the fair value calculations for the periods presented. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as the posting of collateral, thresholds, mutual puts and guarantees. The valuation of interest rate swaps fall into Level 2 in the fair value hierarchy. The table below presents the effect of cash flow hedge accounting on accumulated other comprehensive income. Cumulative Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income March 31, December 31, Three Months Ended March 31, 2022 2021 2022 2021 Interest Rate Swaps $ 2.5 $ (6.1) Interest expense $ 1.4 $ 1.4

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt The components of debt are as follows: March 31, 2022 December 31, 2021 Senior secured credit agreement - Term loan due 2023 $ 388.1 $ 396.6 Senior secured credit agreement - Revolver loan due 2023 — — 3.875% Senior Unsecured Notes due 2028 450.0 450.0 Other 3.0 3.0 Total debt $ 841.1 $ 849.6 Current portion of long-term debt, net of debt issuance costs (31.6) (31.6) Unamortized debt issuance costs (8.0) (8.5) Non-current portion of debt $ 801.5 $ 809.4 As of March 31, 2022 and December 31, 2021, debt issuance costs associated with the revolver loan were classified as other current assets and other assets on the Company's consolidated balance sheets because there was no outstanding revolver balance at period end. As of March 31, 2022, the Company had $2.0 million and $1.1 million of debt issuance costs associated with the revolver loan classified as other current assets and other assets, respectively. As of December 31, 2021, the Company had approximately $2.0 million and $1.6 million of debt issuance costs associated with the revolver loan that were classified as other current assets and other assets, respectively. 3.875% Senior Unsecured Notes due 2028 On August 7, 2020, the Company completed its offering of $450 million aggregate principal amount of 3.875% Senior Unsecured Notes due 2028 (the 2028 Notes) of which the majority of the net proceeds were used to pay down the Revolving Credit Facility (as defined below). Interest on the 2028 Notes is payable on February 15th and August 15th of each year until maturity, beginning on February 15, 2021. The 2028 Notes will mature on August 15, 2028. On or after August 15, 2023, the Company may redeem the 2028 Notes, in whole or in part, at the redemption prices set forth in the related Indenture, plus accrued and unpaid interest. Prior to August 15, 2023 the Company may redeem all or a portion of the 2028 Notes at a redemption price equal to 100% of the principal amount of the 2028 Notes plus a “make-whole” premium and accrued and unpaid interest. Prior to August 15, 2023, the Company may redeem up to 40% of the aggregate principal amount of the 2028 Notes using the net cash proceeds of certain equity offerings at the redemption price set forth in the related Indenture. Upon the occurrence of a change of control, the Company must offer to repurchase the 2028 Notes at a purchase price of 101% of the principal amount of such 2028 Notes plus accrued and unpaid interest. Negative covenants in the Indenture governing the 2028 Notes, among other things, limit the ability of the Company to incur indebtedness and liens, dispose of assets, make investments, enter into certain merger or consolidation transactions and make restricted payments. Senior secured credit agreement Also on August 7, 2020, the Company entered into a Second Amendment (the “Credit Agreement Amendment”) to its senior secured credit agreement, dated October 15, 2018, with multiple lending institutions relating to the Company’s senior secured credit facilities (the “Credit Agreement,” and as amended, the “Amended Credit Agreement”), consisting of a senior revolving credit facility (the “Revolving Credit Facility”) and senior term loan facility (the “Term Loan Facility,” and together with the Revolving Credit Facility, the “Senior Secured Credit Facilities”). The Credit Agreement Amendment amended, among other things, the definition of incremental facilities limit, the consolidated net leverage ratio financial covenant by increasing the maximum level, increased the permissible applicable margins based on the Company’s consolidated net leverage ratio and increased the commitment fee that the Company is required to pay in respect of the average daily unused commitments under the Revolving Credit Facility, depending on the Company’s consolidated net leverage ratio. The Amended Credit Agreement includes (i) a Revolving Credit Facility of $600 million and (ii) a Term Loan Facility with a principal amount of $450 million. The Company may request incremental term loan facilities or increases in the Revolving Credit Facility (each an "Incremental Loan") as long as certain requirements involving our net leverage ratio will be maintained on a pro forma basis. Borrowings under the Revolving Credit Facility and the Term Loan Facility bear interest at a rate per annum equal to (a) a eurocurrency rate plus a margin ranging from 1.25% to 2.25% per annum, depending on the Company's consolidated net leverage ratio or (b) a base rate (which is the highest of the prime rate, the federal funds rate plus 0.50%, and a eurocurrency rate for an interest period of one month plus 1% plus a margin ranging from 0.25% to 1.25%, depending on the Company's consolidated net leverage ratio). The Company is required to make quarterly payments on the last business day of each calendar quarter under the Amended Credit Agreement for accrued and unpaid interest on the outstanding principal balance, based on the above interest rates. In addition, the Company is required to pay commitment fees ranging from 0.15% to 0.35% per annum, depending on the Company's consolidated net leverage ratio, for the average daily unused commitments under the Revolving Credit Facility. The Company is to repay the outstanding principal amount of the Term Loan Facility in quarterly installments on the last business day of each calendar quarter based on an annual percentage equal to 2.5% of the original principal amount of the Term Loan Facility during each of the first two years of the Term Loan Facility, 5% of the original principal amount of the Term Loan Facility during the third year of the Term Loan Facility and 7.5% of the original principal amount of the Term Loan Facility during each year of the remainder of the term of the Term Loan Facility until the maturity date of the Term Loan Facility, at which time the entire unpaid principal balance of the Term Loan Facility will be due and payable. The Company has the right to prepay the Term Loan Facility without premium or penalty. The Revolving Credit Facility and the Term Loan Facility mature on October 13, 2023. The Amended Credit Agreement also requires mandatory prepayments of the Term Loan Facility in the event the Company or its Subsidiaries (a) incur indebtedness not otherwise permitted under the Amended Credit Agreement or (b) receive cash proceeds in excess of $100 million during the term of the Credit Agreement from certain dispositions of property or from casualty events involving their property, subject to certain reinvestment rights. The financial covenants under the Amended Credit Agreement currently require the quarterly presentation of a minimum consolidated 12-month rolling debt service coverage ratio of 2.50 to 1.00, and a maximum consolidated net leverage ratio of 4.50 to 1.00 (subject to an increase to 5.00 to 1.00 for an applicable four quarter period, at the election of the Company, in connection with a permitted acquisition having an aggregate consideration in excess of $75.0 million). Negative covenants in the Amended Credit Agreement, among other things, limit the ability of the Company to incur indebtedness and liens, dispose of assets, make investments, enter into certain merger or consolidation transactions and make restricted payments. As of the date of these financial statements, the Company is in compliance with all affirmative and negative covenants.

Revenue recognition

Revenue recognition	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognition	Revenue recognition The Company operates as two operating segments (Note 14, Segment information). The Company's revenues disaggregated by the major sources were as follows: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 U.S. Government Non-U.S. Government Total U.S. Government Non-U.S. Government Total Product sales, net $ 103.4 $ 133.7 $ 237.1 $ 56.4 $ 81.5 $ 137.9 Contract development and manufacturing: Services — 51.8 51.8 — 67.6 67.6 Leases — 9.0 9.0 97.5 18.7 116.2 Total contract development and manufacturing $ — $ 60.8 $ 60.8 $ 97.5 $ 86.3 $ 183.8 Contracts and grants 9.1 0.5 9.6 20.0 1.3 21.3 Total revenues $ 112.5 $ 195.0 $ 307.5 $ 173.9 $ 169.1 $ 343.0 BARDA COVID-19 Development Public-Private Partnership In 2020, the Company announced the issuance of a task order under our existing Center for Innovation in Advanced Development and Manufacturing (CIADM) agreement with BARDA for COVID-19 vaccine development and manufacturing (the BARDA COVID-19 Development Public Private Partnership). The BARDA COVID-19 Development Public Private Partnership is considered a lease and is accounted for under ASC 842. The initial task order had a contract value of up to $628.2 million and included the reservation of manufacturing capacity and accelerated expansion of fill/finish capacity valued at $542.7 million and $85.5 million, respectively. Subsequently, the task order was expanded to include incremental capital activities which increased the value to $650.8 million. On November 1, 2021, the Company and BARDA mutually agreed to terminate the Company's CIADM contract and associated task orders, including the BARDA COVID-19 Development Public Private Partnership. The Company did not recognize lease revenues under this arrangement during the three months ended March 31, 2022. During the three months ended March 31, 2021 the Company recognized lease revenues of $97.5 million related to this arrangement. CDMO operating leases Certain multi-year CDMO service arrangements with commercial customers include operating leases whereby the customer has the right to direct the use of and obtain substantially all of the economic benefits of specific manufacturing suites operated by the Company. The associated revenue is recognized on a straight-line basis over the term of the lease. The remaining term on the Company's operating lease components approximates 2.1 years. The Company utilizes a cost-plus model to determine the stand-alone selling price of the lease component to allocate contract consideration between the lease and non-lease components. The Company has allocated contract operating lease revenues due under our long-term CDMO services arrangements as follows: Year ended December 31, 2022 (1) $ 24.1 2023 36.5 2024 32.2 2025 8.7 Thereafter 2.7 $ 104.2 (1) As of March 31, 2022, amount represents the nine months ending December 31, 2022. Transaction price allocated to remaining performance obligations As of March 31, 2022, the Company has future contract value on unsatisfied performance obligations of approximately $1.1 billion associated with all arrangements entered into by the Company. The Company expects to recognize a majority of the $1.1 billion of unsatisfied performance obligations within the next 24 months. The amount and timing of revenue recognition for unsatisfied performance obligations can change. The future revenues associat ed with unsatisfied performance obligations exclude the value of unexercised option periods in the Company’s revenue arrangements. Often the timing of manufacturing activities changes based on customer needs and resource availability. Government funding appropriations can impact the timing of product deliveries. The success of the Company's development activities that receive development funding support from the USG under development contracts can also impact the timing of revenue recognition. Contract assets The Company considers accounts receivable and deferred costs associated with revenue generating contracts, which are not included in inventory or property, plant and equipment and the Company does not currently have a contractual right to bill, to be contract assets. As of March 31, 2022 and December 31, 2021, the Company had $42.2 million and $21.5 million, respectively, of contract assets recorded within accounts receivable, net on the condensed consolidated balance sheets. Contract liabilities When performance obligations are not transferred to a customer at the end of a reporting period, cash received associated with amounts allocated to those performance obligations is reflected as contract liabilities on the consolidated balance sheets and is deferred until control of these performance obligations is transferred to the customer. The following table presents the roll forward of the contract liability balances: December 31, 2021 $ 16.4 Deferral of revenue 6.4 Revenue recognized (6.9) March 31, 2022 $ 15.9 As of March 31, 2022 and December 31, 2021, the current portion of contract liabilities was $10.0 million and $11.7 million , respectively , and was included in other current liabilities on the balance sheet . Accounts receivable Accounts receivable, including unbilled accounts receivable contract assets, consist of the following: March 31, 2022 December 31, 2021 Billed, net $ 115.2 $ 224.9 Unbilled 66.6 49.8 Total, net $ 181.8 $ 274.7

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The estimated effective annual tax rate for the years ended December 31, 2022 and 2021, excluding the impact of discrete adjustments, was 25% and 27%. respectively. For the three months ended March 31, 2022 and 2021, the Company recorded a discrete tax expense (benefits) of $0.4 million and $(6.6) million, respectively. The discrete tax expense in 2022 was primarily due to share-based compensation activity offset by return to provision adjustments. The discrete tax benefits in 2021 were primarily due to share-based compensation activity.

Net (loss) Income per share

Net (loss) Income per share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net (loss) Income per share	Net (loss) income per share The following table presents the calculation of basic and diluted net (loss) income per share: Three Months Ended March 31, 2022 2021 Numerator: Net (loss) income $ (3.7) $ 69.7 Denominator: Weighted-average number of shares—basic 50.7 53.3 Dilutive securities—equity awards — 1.2 Weighted-average number of shares—diluted 50.7 54.5 Net (loss) income per share - basic $ (0.07) $ 1.31 Net (loss) income per share - diluted $ (0.07) $ 1.28 Basic net (loss) income per share is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period. Diluted (loss) income per share is computed using the treasury method by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period, adjusted for the potential dilutive effect of other securities if such securities were converted or exercised and are not anti-dilutive. No adjustment for the potential dilutive effect of dilutive securities is reported for the three months ended March 31, 2022 as the effect would have been anti-dilutive due to the Company's net loss. The following table presents the share-based awards that are not considered in the diluted net (loss) income per share calculation generally because the exercise price of the awards was greater than the average per share closing price during the three months ended March 31, 2022 and 2021. In certain instances, awards may be anti-dilutive even if the average market price exceeds the exercise price when the sum of the assumed proceeds exceeds the difference between the market price and the exercise price. Three Months Ended March 31, 2022 2021 Anti-dilutive stock awards 1.6 0.1

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Equity	Equity Repurchase programs On November 11, 2021, the Company announced that its Board of Directors authorized management to repurchase up to an aggregate of $250.0 million of Common Stock under a board-approved Share Repurchase Program, of which $164.7 million has been utilized to purchase 3.8 million shares as of March 31, 2022. During the three months ended March 31, 2022, the Company has utilized $52.2 million to purchase 1.1 million shares. The number of shares repurchased includes trades executed in March and settled in April due to timing. The Share Repurchase Program does not obligate the Company to acquire any specific number of shares. Repurchased shares will be available for use in connection with our stock plans and for other corporate purposes. Share-based compensation During the three months ended March 31, 2022, the Company granted stock options to purchase 0.6 million shares of common stock and 1.2 million restricted and performance stock units under the Emergent BioSolutions Inc. Stock Incentive Plan. Typically, the stock option and restricted stock unit grants vest over three equal annual installments beginning on the day prior to the anniversary of the grant date. The performance stock units settle in stock at the end of the three-year performance period based on the Company's results compared to the performance criteria. Share-based compensation expense was recorded in the following financial statement line items: Three Months Ended March 31, 2022 2021 Cost of product sales $ 1.7 $ 1.5 Cost of contract development and manufacturing 0.4 0.2 Research and development 1.1 1.4 Selling, general and administrative 6.7 7.4 Total share-based compensation expense $ 9.9 $ 10.5 Accumulated other comprehensive income (loss), net of tax The following table includes changes in accumulated other comprehensive income (loss), net of tax by component: Defined Benefit Pension Plan Derivative Instruments Foreign Currency Translation Losses Total (in millions, net of tax) Balance, December 31, 2021 $ (4.0) $ (4.5) $ (7.6) $ (16.1) Other comprehensive (loss) income before reclassifications — 4.9 0.5 5.4 Amounts reclassified from accumulated other comprehensive income — 1.4 — 1.4 Net current period other comprehensive income (loss) — 6.3 0.5 6.8 Balance, March 31, 2022 $ (4.0) $ 1.8 $ (7.1) $ (9.3) Balance, December 31, 2020 $ (7.7) $ (11.0) $ (6.6) $ (25.3) Other comprehensive (loss) income before reclassifications — 1.7 (2.2) (0.5) Amounts reclassified from accumulated other comprehensive income — 1.4 — 1.4 Net current period other comprehensive income (loss) — 3.1 (2.2) 0.9 Balance, March 31, 2021 $ (7.7) $ (7.9) $ (8.8) $ (24.4) The following table presents the tax effects related to each component of accumulated other comprehensive (loss) income: March 31, 2022 March 31, 2021 Pretax Tax Benefit (Expense) Net of tax Pretax Tax Benefit (Expense) Net of tax Derivative Instruments $ 8.6 $ (2.3) $ 6.3 $ 2.4 $ 0.7 $ 3.1 Foreign Currency Translation Losses 0.7 (0.2) 0.5 (2.2) — (2.2) Total Adjustments $ 9.3 $ (2.5) $ 6.8 $ 0.2 $ 0.7 $ 0.9

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment informationThe Company reports segment information based on the internal reporting used by management for making decisions and assessing performance as the source of the Company's reportable segments. During the three months ended March 31, 2022, the Company revised the reporting that the Chief Operating Decision Maker (CODM) reviews in order to assess Company performance. The CODM manages the business with a focus on two reportable segments: 1) a products segment (Products) consisting of the Government - MCM and Commercial business lines and 2) the services segment focused on CDMO (Services). The Company evaluates the performance of these reportable segments based on revenue and adjusted gross margin. Segment revenue includes external customer sales, but it does not include inter-segment services. Adjusted gross margin for each segment is segment revenue less segment cost of sales reduced for significant one-time events. We do not allocate research and development, selling, general and administrative costs, amortization of intangibles assets, interest and other income (expense), or taxes to operating segments in the management reporting reviewed by the CODM. The accounting policies for segment reporting are the same as for the Company as a whole. The Company has recast the related historical information for consistency. The following table include segment revenues and a reconciliation of the Company's segment adjusted gross margin to the condensed consolidated statement of operations for each of the Company's reporting segments as follows: March 31, 2022 March 31, 2021 Products Services Other Consolidated Products Services Other Consolidated Revenue (1) $ 237.1 $ 60.8 $ 9.6 $ 307.5 $ 137.9 $ 183.8 $ 21.3 $ 343.0 Contracts and grants revenue — — (9.6) (9.6) — — (21.3) (21.3) Cost of product sales (80.3) — — (80.3) (52.6) — — (52.6) Cost of contract development and manufacturing — (75.6) — (75.6) — (46.7) — (46.7) Gross margin 156.8 (14.8) — 142.0 85.3 137.1 — 222.4 Changes in fair value of contingent consideration 0.5 — — 0.5 1.1 — — 1.1 Adjusted gross margin $ 157.3 $ (14.8) $ — $ 142.5 $ 86.4 $ 137.1 $ — $ 223.5 (1) Services revenue and Services adjusted gross margin for the three months ended March 31, 2021 includes the impact of $97.5 million of CDMO leases revenues related to the BARDA COVID-19 Development Public Private Partnership which ended in November 2021. The following table includes depreciation for each segment as follows: March 31, 2022 March 31, 2021 Depreciation: Products $ 7.4 $ 7.2 Services 7.8 5.3 Other 1.4 1.1 Total $ 16.6 $ 13.6

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Securities and shareholder litigation On April 20, 2021, May 14, 2021, and June 2, 2021, putative class action lawsuits were filed against the Company and certain of its current and former senior officers in the United States District Court for the District of Maryland on behalf of purchasers of the Company’s common stock, seeking to pursue remedies under the Securities Exchange Act of 1934. These complaints were filed by Palm Tran, Inc. – Amalgamated Transit Union Local 1577 Pension Plan; Alan I. Roth; and Stephen M. Weiss, respectively. The complaints allege, among other things, that the defendants made false and misleading statements about its manufacturing capabilities with respect to COVID-19 vaccine bulk drug substance (referred to herein as CDMO Manufacturing Capabilities). These cases were consolidated on December 23, 2021, under the caption In re Emergent BioSolutions Inc. Securities Litigation, No. 8:21-cv-00955-PWG (the Federal Securities Class Action). The Lead Plaintiffs in the consolidated matter are Nova Scotia Health Employees’ Pension Plan and The City of Fort Lauderdale Police & Firefighters’ Retirement System. The Lead Plaintiffs filed an amended complaint on March 19, 2022 and the defendants have until May 19, 2022 to file a motion to dismiss. The defendants believe that the allegations in the complaints are without merit and intend to defend the matters vigorously. Given the uncertainty of litigation, the preliminary stage of the cases, and the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot reasonably estimate the possible loss or range of loss, if any, that may result from the consolidated action. With respect to the specific legal proceedings and claims described below, unless otherwise noted, the amount or range of possible losses is not reasonably estimable. There can be no assurance that the settlement, resolution, or other outcome of one or more matters, including the matters set forth below, during any subsequent reporting period will not have a material adverse effect on the Company's results of operations or cash flows for that period or on the Company's financial condition. On June 29, 2021, Lincolnshire Police Pension Fund (“Lincolnshire”) and on August 16, 2021, Pooja Sayal, filed putative stockholder derivative lawsuits in the United States District Court for the District of Maryland on behalf of the Company against certain of the Company's current and former officers and directors for breach of fiduciary duties, waste of corporate assets, and unjust enrichment, each allegation related to the Company’s CDMO Manufacturing Capabilities. In addition to monetary damages, the complaints seek the implementation of multiple corporate governance and internal policy changes. On November 16, 2021, both cases were consolidated under the caption In re Emergent BioSolutions Inc. Stockholder Derivative Litigation, Master Case No. 8:21-cv-01595-PWG. On January 3, 2022, the Lincolnshire complaint was designated as the operative complaint in the consolidated action. On April 13, 2022 the Court approved the parties joint stipulation to and stay of the proceedings and discovery until the close of fact discovery in the Federal Securities Class Action. The defendants believe that the allegations in the complaints are without merit and intend to defend the matter vigorously. On September 15, 2021, September 16, 2021, and November 12, 2021, putative stockholder derivative lawsuits were filed by Chang Kyum Kim, Mark Nevins and Employees Retirement System of the State of Rhode Island, North Collier Fire Control and Rescue District Firefighters Pension Plan, and Pembroke Pines Firefighters & Police Officers Pension Fund in The Court of Chancery of the State of Delaware on behalf of the Company against certain of its current and former officers and directors for breach of fiduciary duties, unjust enrichment and insider trading, each allegation related to the Company’s CDMO Manufacturing Capabilities. In addition to monetary damages, the complaints seek the implementation of multiple corporate governance and internal policy changes. On February 2, 2022, the cases were consolidated under the caption In re Emergent BioSolutions, Inc. Derivative Litigation, C.A. No. 2021-0974-MTZ with the institutional investors as co-lead plaintiffs. On March 4, 2022, the defendants’ filed their Motion to Dismiss the plaintiffs’ complaint. However, ruling on this motion is stayed pursuant to a March 29, 2022 Order staying all proceedings pending a final, non-appealable judgment in the Federal Securities Class Action. On December 3, 2021, December 22, 2021 and January 18, 2022, putative stockholder derivative lawsuits were filed by Zachary Elton, Eric White and Jeffrey Reynolds in the Circuit Court for Montgomery County, Maryland on behalf of the Company against certain of its current and former officers and directors for breach of fiduciary duty, unjust enrichment, waste of corporate assets, failing to maintain internal controls, making or causing to be made false and/or misleading statements and material omissions, insider trading and otherwise violating the laws, each allegation related to the Company’s CDMO Manufacturing Capabilities. The complaints seek monetary and punitive damages. On February 22, 2022, the Court entered an order consolidating these actions under case number C-15-21-CV-000496. On March 9, 2022, the parties filed a Joint Stipulation of Stay of Proceedings and Discovery, pursuant to which the parties have agreed to stay all proceedings until thirty (30) calendar days after a ruling on defendants’ motion to dismiss filed in the Federal Securities Class Action. The Court approved the Joint Stipulation on March 14, 2022. In addition to the above actions, the Company has received preliminary inquiries and subpoenas to produce documents related to these matters from Representative Carolyn Maloney and Representative Jim Clyburn, members of the House Committee on Oversight and Reform and the Select Subcommittee on the Coronavirus Crisis, Senator Murray of the Committee on Health, Education, Labor and Pensions, the Department of Justice, the SEC, the Maryland Attorney General’s Office, and the New York Attorney General’s Office. The Company is producing and has produced documents as required in response and will continue to cooperate with these government inquiries. Intellectual property Emergent BioSolutions’ Adapt Pharma subsidiaries (Emergent) are as follows: Emergent Devices Inc. (EBPA), formerly known as Adapt Pharma Inc.; Emergent Operations Ireland Limited (EIRE), formerly known as Adapt Pharma Operations Limited; and Emergent BioSolutions Ireland Limited (EIR2), formerly known as Adapt Pharma Limited. ANDA litigation - Teva 4mg Emergent BioSolutions’ Adapt Pharma subsidiaries EBPA and EIRE, and Opiant Pharmaceuticals Inc. (Opiant) received notice letters from Teva Pharmaceuticals Industries Limited and Teva Pharmaceuticals USA (collectively, Teva) that Teva had filed an Abbreviated New Drug Application (ANDA) with the FDA seeking regulatory approval to market a generic version of NARCAN® (naloxone HCI ) Nasal Spray 4 mg/spray before the expiration of certain patents listed on the FDA’s website for Approved Drug Products with Therapeutic Equivalence Evaluations (Orange Book Listed Patents) for NARCAN. Teva’s notice letters alleged that claims of certain Orange Book Listed Patents for NARCAN were invalid and/or would not be infringed by the activities described in Teva’s ANDA. Emergent and Opian t filed complaints against Teva in the U.S. District Court for the District of New Jersey alleging infringement of certain Orange Book Listed Patents for NARCAN. On June 5, 2020, the U.S. District Court for the District of New Jersey ruled in favor of Teva. Emergent appealed the District of New Jersey’s decision to the Court of Appeals for the Federal Circuit (CAFC). On February 10, 2022, the CAFC issued a decision affirming the District Court’s decision and the Company intends to petition for a rehearing. ANDA litigation - Teva 2mg Emergent BioSolutions’ Adapt Pharma subsidiaries EBPA and EIRE, and Opiant received a notice letter from Teva that Teva had filed an ANDA with the FDA seeking regulatory approval to market a generic version of NARCAN® (naloxone HCI) Nasal Spray 2 mg/spray before the expiration of certain Orange Book Listed Patents for the 2 mg/spray dose of NARCAN®. Teva’s notice letter alleged that claims of certain Orange Book Listed Patents for the 2 mg/spray dose of NARCAN® were invalid and/or would not be infringed by the activities described in Teva’s ANDA. Emergent and Opiant filed complaints against Teva in the U.S. District Court for the District of New Jersey alleging infringement of certain Orange Book Listed Patents for the 2 mg/spray dose of NARCAN. This case is currently stayed pending final outcome of the appeal of the NARCAN 4 mg/spray case.

Basis of presentation and pri_2

Basis of presentation and principles of consolidation (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	The accompanying unaudited condensed consolidated financial statements include the accounts of Emergent and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC.All adjustments contained in the accompanying unaudited condensed consolidated financial statements are of a normal recurring nature and are necessary to present fairly the financial position of the Company as of March 31, 2022. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year.
Fair value measurements	Separate disclosure is required for assets and liabilities measured at fair value on a recurring basis from those measured at fair value on a non-recurring basis. The Company has cash held in money market accounts (level 1) and time deposits (level 2), contingent purchase consideration (level 3) and interest rate swaps arrangements (level 2) that are measured at fair value on a recurring basis (Note 7, Fair value measurements and Note 8, Derivative instruments and hedging activities). On a non-recurring basis, the Company measures its long-lived assets as part of impairment evaluations using fair value measurements. Goodwill is allocated to the Company's reporting units, which are one level below its operating segments. The Company evaluates goodwill and other indefinite-lived intangible assets for impairment annually as of October 1 and earlier if an event or other circumstance indicates that the carrying value of the asset may not be recoverable. If the Company believes that as a result of its qualitative assessment it is more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, the quantitative impairment test is not required. If however it is determined that it is not more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, a quantitative test is required. Long-lived assets such as intangible assets and property, plant and equipment are not required to be tested for impairment annually. Instead, long-lived assets are tested for impairment whenever circumstances indicate that the carrying amount of the asset may not be recoverable, such as when there is an adverse change in the market relating to those related assets. The impairment test first requires a comparison of undiscounted future cash flows to the carrying value of the asset. Determining the need for a detailed impairment analysis requires the exercise of judgment about several business factors, including the timing of expected future cash flows and assumptions about the economic environment.
Recently issued accounting standards	Not Yet Adopted ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting
Derivatives	The valuation of the interest rate swaps is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each interest rate swap. This analysis reflects the contractual terms of the interest rate swaps, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments (or receipts) and the discounted expected variable cash receipts (or payments). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. We incorporate credit valuation adjustments in the fair value measurements to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk. These credit valuation adjustments were not significant inputs for the fair value calculations for the periods presented. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as the posting of collateral, thresholds, mutual puts and guarantees. The valuation of interest rate swaps fall into Level 2 in the fair value hierarchy.
Segment Information	The Company reports segment information based on the internal reporting used by management for making decisions and assessing performance as the source of the Company's reportable segments. During the three months ended March 31, 2022, the Company revised the reporting that the Chief Operating Decision Maker (CODM) reviews in order to assess Company performance. The CODM manages the business with a focus on two reportable segments: 1) a products segment (Products) consisting of the Government - MCM and Commercial business lines and 2) the services segment focused on CDMO (Services). The Company evaluates the performance of these reportable segments based on revenue and adjusted gross margin. Segment revenue includes external customer sales, but it does not include inter-segment services. Adjusted gross margin for each segment is segment revenue less segment cost of sales reduced for significant one-time events. We do not allocate research and development, selling, general and administrative costs, amortization of intangibles assets, interest and other income (expense), or taxes to operating segments in the management reporting reviewed by the CODM. The accounting policies for segment reporting are the same as for the Company as a whole. The Company has recast the related historical information for consistency.

Inventories, net (Tables)

Inventories, net (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventory, net consisted of the following: March 31, 2022 December 31, 2021 Raw materials and supplies $ 244.1 $ 217.5 Work-in-process 106.0 95.8 Finished goods 50.6 37.5 Total inventories, net $ 400.7 $ 350.8

Property, plant and equipment_2

Property, plant and equipment, net (Tables)	3 Months Ended
	Mar. 31, 2022
Property Plant and Equipment Income Statement Disclosures [Abstract]
Property, plant and equipment	Property, plant and equipment, net consisted of the following: March 31, 2022 December 31, 2021 Land and improvements $ 51.9 $ 52.1 Buildings, building improvements and leasehold improvements 286.9 269.7 Furniture and equipment 527.9 513.5 Software 62.5 60.7 Construction-in-progress 208.1 223.2 Property, plant and equipment, gross $ 1,137.3 $ 1,119.2 Less: Accumulated depreciation & amortization (329.8) (319.1) Total property, plant and equipment, net $ 807.5 $ 800.1

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Three Months Ended March 31, 2022 2021 Operating lease cost: Amortization of right-of-use assets $ 1.4 $ 1.3 Interest on lease liabilities 0.3 0.4 Total operating lease cost $ 1.7 $ 1.7
Schedule of Leases Supplemental Balance Sheets	Supplemental balance sheet information related to lessee activities is as follows: (In millions, except lease term and discount rate) Balance Sheet location March 31, 2022 December 31, 2021 Operating lease right-of-use assets Other assets $ 26.9 $ 28.3 Operating lease liabilities, current portion Other current liabilities 5.8 5.8 Operating lease liabilities Other liabilities 22.6 24.2 Total operating lease liabilities $ 28.4 $ 30.0 Operating leases: Weighted average remaining lease term (years) 6.8 7.0 Weighted average discount rate 4.1 % 4.1 %

Intangible assets (Tables)

Intangible assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table summarizes the Company's intangible assets for the periods ended March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Asset Type Estimated Life Cost Accumulated Amortization Net Cost Accumulated Amortization Net Products 9-22 years $ 798.0 $ 207.4 $ 590.6 $ 798.0 $ 193.5 $ 604.5 Customer relationships 8 years 28.6 28.6 — 28.6 28.6 — CDMO 8 years 5.5 5.5 — 5.5 5.4 0.1 Total intangible assets $ 832.1 $ 241.5 $ 590.6 $ 832.1 $ 227.5 $ 604.6
Finite-lived Intangible Assets Amortization Expense	Amortization expense associated with the Company's intangible assets was recorded as follows: Three Months Ended March 31, 2022 2021 Amortization Expense $ 14.0 $ 14.9
Schedule of Goodwill	The following table provides a roll forward of changes in our goodwill balance: Goodwill, December 31, 2021 $ 224.9 Foreign currency translation — Goodwill, March 31, 2022 $ 224.9

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The table below presents information about the Company's assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques we utilized to determine fair value: March 31, 2022 December 31, 2021 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Money market accounts $ 7.4 7.4 — $ — $ 152.4 152.4 — $ — Time deposits 250.2 — 250.2 — 200.0 — 200.0 — Derivative instruments 2.5 — 2.5 — — — — — Total $ 260.1 7.4 252.7 $ — $ 352.4 152.4 200.0 $ — Liabilities: Contingent consideration $ 7.6 — — $ 7.6 $ 37.2 — — $ 37.2 Derivative instruments — — — — 6.1 — 6.1 — Total $ 7.6 — — $ 7.6 $ 43.3 — 6.1 $ 37.2
Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)	The following table is a reconciliation of the beginning and ending balance of contingent considerations. Balance at December 31, 2021 $ 37.2 Change in fair value 0.5 Settlements (30.1) Balance at March 31, 2022 $ 7.6
Fair Value Measurement Inputs and Valuation Techniques	The recurring Level 3 fair value measurements for the Company's contingent consideration liability include the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of March 31, 2022 Valuation Technique Unobservable Input Range Weighted Average Revenue milestone and royalty based $7.6 million Discounted cash flow Discount rate 8.3% 8.3% Probability of payment 25% - 50% 37.7% Projected year of payment 2022 - 2028 2024

Derivative instruments and he_2

Derivative instruments and hedging activities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of March 31, 2022, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: (in millions, except number of instruments) Number of Instruments Notional Interest rate swaps 7 $ 350.0
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below presents the fair value of the Company’s derivative financial instruments designated as hedges as well as their classification on the balance sheets. Asset Derivatives Liability Derivatives March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest Rate Swaps Other Current Assets $ 0.2 Other Current Assets $ — Other Current Liabilities $ — Other Current Liabilities $ 4.5 Other Assets $ 2.3 Other Assets $ — Other Liabilities $ — Other Liabilities $ 1.6
Derivative Instruments, Gain (Loss)	The table below presents the effect of cash flow hedge accounting on accumulated other comprehensive income. Cumulative Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income March 31, December 31, Three Months Ended March 31, 2022 2021 2022 2021 Interest Rate Swaps $ 2.5 $ (6.1) Interest expense $ 1.4 $ 1.4

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The components of debt are as follows: March 31, 2022 December 31, 2021 Senior secured credit agreement - Term loan due 2023 $ 388.1 $ 396.6 Senior secured credit agreement - Revolver loan due 2023 — — 3.875% Senior Unsecured Notes due 2028 450.0 450.0 Other 3.0 3.0 Total debt $ 841.1 $ 849.6 Current portion of long-term debt, net of debt issuance costs (31.6) (31.6) Unamortized debt issuance costs (8.0) (8.5) Non-current portion of debt $ 801.5 $ 809.4

Revenue recognition (Tables)

Revenue recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The Company's revenues disaggregated by the major sources were as follows: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 U.S. Government Non-U.S. Government Total U.S. Government Non-U.S. Government Total Product sales, net $ 103.4 $ 133.7 $ 237.1 $ 56.4 $ 81.5 $ 137.9 Contract development and manufacturing: Services — 51.8 51.8 — 67.6 67.6 Leases — 9.0 9.0 97.5 18.7 116.2 Total contract development and manufacturing $ — $ 60.8 $ 60.8 $ 97.5 $ 86.3 $ 183.8 Contracts and grants 9.1 0.5 9.6 20.0 1.3 21.3 Total revenues $ 112.5 $ 195.0 $ 307.5 $ 173.9 $ 169.1 $ 343.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The Company has allocated contract operating lease revenues due under our long-term CDMO services arrangements as follows: Year ended December 31, 2022 (1) $ 24.1 2023 36.5 2024 32.2 2025 8.7 Thereafter 2.7 $ 104.2 (1) As of March 31, 2022, amount represents the nine months ending December 31, 2022.
Rollforward of Contract Liabilities	The following table presents the roll forward of the contract liability balances: December 31, 2021 $ 16.4 Deferral of revenue 6.4 Revenue recognized (6.9) March 31, 2022 $ 15.9
Schedule of Accounts Receivable, Net	Accounts receivable, including unbilled accounts receivable contract assets, consist of the following: March 31, 2022 December 31, 2021 Billed, net $ 115.2 $ 224.9 Unbilled 66.6 49.8 Total, net $ 181.8 $ 274.7

Net income per share (Tables)

Net income per share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Basic and Diluted Net Income per Share	The following table presents the calculation of basic and diluted net (loss) income per share: Three Months Ended March 31, 2022 2021 Numerator: Net (loss) income $ (3.7) $ 69.7 Denominator: Weighted-average number of shares—basic 50.7 53.3 Dilutive securities—equity awards — 1.2 Weighted-average number of shares—diluted 50.7 54.5 Net (loss) income per share - basic $ (0.07) $ 1.31 Net (loss) income per share - diluted $ (0.07) $ 1.28
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the share-based awards that are not considered in the diluted net (loss) income per share calculation generally because the exercise price of the awards was greater than the average per share closing price during the three months ended March 31, 2022 and 2021. In certain instances, awards may be anti-dilutive even if the average market price exceeds the exercise price when the sum of the assumed proceeds exceeds the difference between the market price and the exercise price. Three Months Ended March 31, 2022 2021 Anti-dilutive stock awards 1.6 0.1

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Share-based Payment Arrangement, Expensed and Capitalized, Amount	Share-based compensation expense was recorded in the following financial statement line items: Three Months Ended March 31, 2022 2021 Cost of product sales $ 1.7 $ 1.5 Cost of contract development and manufacturing 0.4 0.2 Research and development 1.1 1.4 Selling, general and administrative 6.7 7.4 Total share-based compensation expense $ 9.9 $ 10.5
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table includes changes in accumulated other comprehensive income (loss), net of tax by component: Defined Benefit Pension Plan Derivative Instruments Foreign Currency Translation Losses Total (in millions, net of tax) Balance, December 31, 2021 $ (4.0) $ (4.5) $ (7.6) $ (16.1) Other comprehensive (loss) income before reclassifications — 4.9 0.5 5.4 Amounts reclassified from accumulated other comprehensive income — 1.4 — 1.4 Net current period other comprehensive income (loss) — 6.3 0.5 6.8 Balance, March 31, 2022 $ (4.0) $ 1.8 $ (7.1) $ (9.3) Balance, December 31, 2020 $ (7.7) $ (11.0) $ (6.6) $ (25.3) Other comprehensive (loss) income before reclassifications — 1.7 (2.2) (0.5) Amounts reclassified from accumulated other comprehensive income — 1.4 — 1.4 Net current period other comprehensive income (loss) — 3.1 (2.2) 0.9 Balance, March 31, 2021 $ (7.7) $ (7.9) $ (8.8) $ (24.4)
Comprehensive Income (Loss)	The following table presents the tax effects related to each component of accumulated other comprehensive (loss) income: March 31, 2022 March 31, 2021 Pretax Tax Benefit (Expense) Net of tax Pretax Tax Benefit (Expense) Net of tax Derivative Instruments $ 8.6 $ (2.3) $ 6.3 $ 2.4 $ 0.7 $ 3.1 Foreign Currency Translation Losses 0.7 (0.2) 0.5 (2.2) — (2.2) Total Adjustments $ 9.3 $ (2.5) $ 6.8 $ 0.2 $ 0.7 $ 0.9

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table include segment revenues and a reconciliation of the Company's segment adjusted gross margin to the condensed consolidated statement of operations for each of the Company's reporting segments as follows: March 31, 2022 March 31, 2021 Products Services Other Consolidated Products Services Other Consolidated Revenue (1) $ 237.1 $ 60.8 $ 9.6 $ 307.5 $ 137.9 $ 183.8 $ 21.3 $ 343.0 Contracts and grants revenue — — (9.6) (9.6) — — (21.3) (21.3) Cost of product sales (80.3) — — (80.3) (52.6) — — (52.6) Cost of contract development and manufacturing — (75.6) — (75.6) — (46.7) — (46.7) Gross margin 156.8 (14.8) — 142.0 85.3 137.1 — 222.4 Changes in fair value of contingent consideration 0.5 — — 0.5 1.1 — — 1.1 Adjusted gross margin $ 157.3 $ (14.8) $ — $ 142.5 $ 86.4 $ 137.1 $ — $ 223.5 (1) Services revenue and Services adjusted gross margin for the three months ended March 31, 2021 includes the impact of $97.5 million of CDMO leases revenues related to the BARDA COVID-19 Development Public Private Partnership which ended in November 2021.
Schedule of Segment Reporting Information, by Segment	The following table includes depreciation for each segment as follows: March 31, 2022 March 31, 2021 Depreciation: Products $ 7.4 $ 7.2 Services 7.8 5.3 Other 1.4 1.1 Total $ 16.6 $ 13.6

Business (Details)

Business (Details)	3 Months Ended
	Mar. 31, 2022productproductCandidatecategorysegment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of categories of public health threats | category	5
Number of revenue generating products | product	11
Number of product candidates | productCandidate	1
Number of operating segments | segment	2

Basis of presentation and pri_3

Basis of presentation and principles of consolidation (Details)	3 Months Ended
	Mar. 31, 2022segment
Accounting Policies [Abstract]
Number of reportable segments	2

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 244.1	$ 217.5
Work-in-process	106	95.8
Finished goods	50.6	37.5
Total inventories, net	$ 400.7	$ 350.8

Property, plant and equipment_3

Property, plant and equipment, net (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	$ 1,137.3	$ 1,119.2
Less: Accumulated depreciation & amortization	(329.8)	(319.1)
Total property, plant and equipment, net	807.5	800.1
Land and improvements
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	51.9	52.1
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	286.9	269.7
Furniture and equipment
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	527.9	513.5
Software
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	62.5	60.7
Construction-in-progress
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	$ 208.1	$ 223.2

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating lease cost:
Amortization of right-of-use assets	$ 1.4	$ 1.3
Interest on lease liabilities	0.3	0.4
Total operating lease cost	$ 1.7	$ 1.7

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Operating Leases
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating lease right-of-use assets	$ 26.9	$ 28.3
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Operating lease liabilities, current portion	$ 5.8	$ 5.8
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Operating lease liabilities	$ 22.6	$ 24.2
Total operating lease liabilities	$ 28.4	$ 30
Operating leases:
Weighted average remaining lease term (years)	6 years 9 months 18 days	7 years
Weighted average discount rate	4.10%	4.10%

Intangible assets - Schedule of

Intangible assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Cost	$ 832.1	$ 832.1
Accumulated Amortization	241.5	227.5
Net	590.6	604.6
Products
Finite-Lived Intangible Assets [Line Items]
Cost	798	798
Accumulated Amortization	207.4	193.5
Net	$ 590.6	604.5
Products | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Life	9 years
Products | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Life	22 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Life	8 years
Cost	$ 28.6	28.6
Accumulated Amortization	28.6	28.6
Net	$ 0	0
CDMO
Finite-Lived Intangible Assets [Line Items]
Estimated Life	8 years
Cost	$ 5.5	5.5
Accumulated Amortization	5.5	5.4
Net	$ 0	$ 0.1

Intangible assets - Finite-live

Intangible assets - Finite-lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization Expense	$ 14	$ 14.9

Intangible assets - Narrative (

Intangible assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average amortization period	11 years 8 months 12 days
Goodwill, impaired, accumulated impairment loss	$ 41.7	$ 41.7

Intangible assets - Goodwill Ro

Intangible assets - Goodwill Roll Forward (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill [Roll Forward]
Goodwill, December 31, 2021	$ 224.9
Foreign currency translation	0
Goodwill, March 31, 2022	$ 224.9

Fair value measurements - Fair

Fair value measurements - Fair Value Hierarchy of Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	$ 2.5	$ 0
Total	260.1	352.4
Contingent consideration	7.6	37.2
Derivative instruments	0	6.1
Total	7.6	43.3
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	0	0
Total	7.4	152.4
Contingent consideration	0	0
Derivative instruments	0	0
Total	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	2.5	0
Total	252.7	200
Contingent consideration	0	0
Derivative instruments	0	6.1
Total	0	6.1
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	0	0
Total	0	0
Contingent consideration	7.6	37.2
Derivative instruments	0	0
Total	7.6	37.2
Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	7.4	152.4
Money market accounts | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	7.4	152.4
Money market accounts | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market accounts | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	250.2	200
Time deposits | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Time deposits | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	250.2	200
Time deposits | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Fair value measurements - Conti

Fair value measurements - Contingent Consideration Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	$ 37.2
Changes in fair value of contingent consideration	0.5	$ 1.1
Settlements	(30.1)
Balance, end of period	$ 7.6

Fair value measurements - Addit

Fair value measurements - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Aug. 07, 2020
Debt Instrument [Line Items]
Business combination, contingent consideration, liability, current	$ 3.2	$ 32.7
3.875% Senior Unsecured Notes due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated percentage	3.875%	3.875%	3.875%
Long-term debt, fair value	$ 403.7	$ 433.3

Fair value measurements - Fai_2

Fair value measurements - Fair Value Level 3 of Significant Unobservable Inputs (Details) $ in Millions	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of contingent purchase consideration	$ 7.6	$ 37.2
Fair Value, Inputs, Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of contingent purchase consideration	7.6	$ 37.2
Fair Value, Inputs, Level 3 | Fair Value, Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of contingent purchase consideration	$ 7.6
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Discount rate | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.083
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Discount rate | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.083
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Probability of payment | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.25
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Probability of payment | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.50
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Probability of payment | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.377

Derivative instruments and he_3

Derivative instruments and hedging activities - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net deferred losses from accumulated other comprehensive loss	$ 0.2

Derivative instruments and he_4

Derivative instruments and hedging activities - Derivative Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - Interest rate swaps $ in Millions	Mar. 31, 2022USD ($)instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of Instruments | instrument	7
Notional | $	$ 350

Derivative instruments and he_5

Derivative instruments and hedging activities - Fair Value by Balance Sheet Location (Details) - Interest rate swaps - Designated as Hedging Instrument - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 0.2	$ 0
Other Assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	2.3	0
Other Current Liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	4.5
Other Liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 0	$ 1.6

Derivative instruments and he_6

Derivative instruments and hedging activities - Cash Flow Hedging on AOCI (Details) - Interest rate swaps - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	$ 2.5	$ (6.1)
Cash Flow Hedging | Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	$ 1.4		$ 1.4

Debt - Schedule (Details)

Debt - Schedule (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Aug. 07, 2020
Debt Instrument [Line Items]
Total debt	$ 841.1	$ 849.6
Current portion of long-term debt, net of debt issuance costs	(31.6)	(31.6)
Unamortized debt issuance costs	(8)	(8.5)
Non-current portion of debt	801.5	809.4
Term Loan
Debt Instrument [Line Items]
Total debt	$ 388.1	$ 396.6
3.875% Senior Unsecured Notes due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated percentage	3.875%	3.875%	3.875%
Total debt	$ 450	$ 450	$ 450
Other
Debt Instrument [Line Items]
Total debt	$ 3	$ 3

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Aug. 07, 2020	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt issuance costs, current, net			$ 2,000,000
Debt issuance costs, net			1,600,000
Long-term debt		$ 841,100,000	849,600,000
Debt instrument, covenant, net leverage ratio rolling period	12 months
Debt instrument, covenant, net leverage ratio adjustment period	12 months
Other Current Assets
Debt Instrument [Line Items]
Debt issuance costs, current, net		2,000,000
Other Assets
Debt Instrument [Line Items]
Debt issuance costs, net		1,100,000
Line of Credit
Debt Instrument [Line Items]
Long-term debt		$ 0	$ 0
3.875% Senior Unsecured Notes due 2028 | Prior to August 15, 2023
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	100.00%
3.875% Senior Unsecured Notes due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated percentage	3.875%	3.875%	3.875%
Long-term debt	$ 450,000,000	$ 450,000,000	$ 450,000,000
3.875% Senior Unsecured Notes due 2028 | Maximum | Prior to August 15, 2023
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	40.00%
3.875% Senior Unsecured Notes due 2028 | Maximum | Upon the occurrence of a change in control
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	101.00%
Amended Credit Agreement | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.15%
Debt covenant, consolidated debt service coverage ratio, minimum	2.50
Amended Credit Agreement | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.35%
Debt instrument, covenant, net leverage ratio, maximum	4.50
Debt instrument, covenant, net leverage ratio, adjustment	5
Amended Credit Agreement | Eurocurrency
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Amended Credit Agreement | Eurocurrency | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Amended Credit Agreement | Eurocurrency | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Amended Credit Agreement | Federal Funds Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Amended Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.25%
Amended Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Long-term debt		$ 0	$ 0
Revolving Credit Facility | Amended Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity	$ 600,000,000
Term Loan Facility | Amended Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity	$ 450,000,000
Percentage of original principal amount required to repay in the first two years	2.50%
Percentage of original principal amount required to repay during the third year	5.00%
Percentage of original principal amount required to repay remaining year	7.50%
Cash proceeds excess amount from dispositions of property or casualty events subject to certain reinvestment right	$ 100,000,000
Debt instrument, covenant, consideration threshold	$ 75,000,000

Revenue recognition - Narrative

Revenue recognition - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Disaggregation of Revenue [Line Items]
Number of operating segments | segment	2
Revenue, remaining performance obligation, amount	$ 1,100,000,000
Contract with customer, asset, noncurrent	42,200,000		$ 21,500,000
Current portion of contract liabilities	10,000,000		11,700,000
Allowance for doubtful accounts receivable	700,000		$ 3,200,000
Leases
Disaggregation of Revenue [Line Items]
Lease revenue	9,000,000	$ 116,200,000
Revenue, remaining performance obligation, amount	104,200,000
BARDA
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received	650,800,000			$ 628,200,000
U.S. Government | Leases
Disaggregation of Revenue [Line Items]
Lease revenue	$ 0	97,500,000
Non-U.S. Government
Disaggregation of Revenue [Line Items]
Lessee, operating lease, remaining lease term	2 years 1 month 6 days
Non-U.S. Government | Leases
Disaggregation of Revenue [Line Items]
Lease revenue	$ 9,000,000	$ 18,700,000
Reservation Of Manufacturing Capacity | BARDA
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received				542,700,000
Accelerated Expansion Of Fill/Finish Capacity | BARDA
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received				$ 85,500,000

Revenue recognition - Disaggreg

Revenue recognition - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 307,500,000	$ 343,000,000
U.S. Government
Disaggregation of Revenue [Line Items]
Total revenues	112,500,000	173,900,000
Non-U.S. Government
Disaggregation of Revenue [Line Items]
Total revenues	195,000,000	169,100,000
Product sales, net
Disaggregation of Revenue [Line Items]
Revenues	237,100,000	137,900,000
Product sales, net | U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	103,400,000	56,400,000
Product sales, net | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	133,700,000	81,500,000
Total contract development and manufacturing
Disaggregation of Revenue [Line Items]
Total contract development and manufacturing	60,800,000	183,800,000
Total contract development and manufacturing | U.S. Government
Disaggregation of Revenue [Line Items]
Total contract development and manufacturing	0	97,500,000
Total contract development and manufacturing | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Total contract development and manufacturing	60,800,000	86,300,000
Services
Disaggregation of Revenue [Line Items]
Revenues	51,800,000	67,600,000
Services | U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	0	0
Services | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	51,800,000	67,600,000
Leases
Disaggregation of Revenue [Line Items]
Leases	9,000,000	116,200,000
Leases | U.S. Government
Disaggregation of Revenue [Line Items]
Leases	0	97,500,000
Leases | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Leases	9,000,000	18,700,000
Contracts and grants
Disaggregation of Revenue [Line Items]
Revenues	9,600,000	21,300,000
Contracts and grants | U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	9,100,000	20,000,000
Contracts and grants | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	$ 500,000	$ 1,300,000

Revenue recognition - Performan

Revenue recognition - Performance Obligations (Details) $ in Millions	Mar. 31, 2022USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1,100
Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 104.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 24.1
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 36.5
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 32.2
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 8.7
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 2.7
Revenue, remaining performance obligation, expected timing of satisfaction, period

Revenue recognition - Remaining

Revenue recognition - Remaining Performance Obligation (Details)	Mar. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months

Revenue recognition - Contract

Revenue recognition - Contract Liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Change in Contract With Customer, Liability [Roll Forward]
Beginning of period	$ 16.4
Deferral of revenue	6.4
Revenue recognized	(6.9)
End of period	$ 15.9

Revenue recognition - Accounts

Revenue recognition - Accounts Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Billed, net	$ 115.2	$ 224.9
Unbilled	66.6	49.8
Total, net	$ 181.8	$ 274.7

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Effective annual tax rate				27.00%
Discrete tax expense (benefits)	$ 0.4	$ (6.6)
Forecast
Income Taxes [Line Items]
Effective annual tax rate			25.00%

Net (loss) Income per share (De

Net (loss) Income per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net (loss) income	$ (3.7)	$ 69.7
Denominator:
Weighted-average number of shares-basic (in shares)	50.7	53.3
Dilutive securities-equity awards (in shares)	0	1.2
Weighted-average number of shares-diluted (in shares)	50.7	54.5
Net income per share - basic (in dollars per share)	$ (0.07)	$ 1.31
Net income per share - diluted (in dollars per share)	$ (0.07)	$ 1.28
Antidilutive securities excluded from computation of earnings per share (in shares)	1.6	0.1

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended	5 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Nov. 11, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount			$ 250
Repurchases of stock	$ 52.2
Treasury Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchases of stock	$ 52.2	$ 164.7
Stock repurchased during period, shares (in shares)	1.1	3.8
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	0.6
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (in shares)	1.2
Award vesting period	3 years
Tranche One | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
Tranche One | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
Tranche Two | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
Tranche Two | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
Tranche Three | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
Tranche Three | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%

Equity - Schedule of Stock-base

Equity - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 9.9	$ 10.5
Cost of product sales | Products
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1.7	1.5
Cost of product sales | Services
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	0.4	0.2
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1.1	1.4
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 6.7	$ 7.4

Equity - Changes in Accumulated

Equity - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,619	$ 1,447
Other comprehensive (loss) income before reclassifications	5.4	(0.5)
Amounts reclassified from accumulated other comprehensive income	1.4	1.4
Total other comprehensive income (loss), net of tax	6.8	0.9
Ending balance	1,575.3	1,522.8
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(16.1)	(25.3)
Total other comprehensive income (loss), net of tax	6.8	0.9
Ending balance	(9.3)	(24.4)
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(4)	(7.7)
Other comprehensive (loss) income before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	0	0
Total other comprehensive income (loss), net of tax	0	0
Ending balance	(4)	(7.7)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(4.5)	(11)
Other comprehensive (loss) income before reclassifications	4.9	1.7
Amounts reclassified from accumulated other comprehensive income	1.4	1.4
Total other comprehensive income (loss), net of tax	6.3	3.1
Ending balance	1.8	(7.9)
Foreign Currency Translation Losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(7.6)	(6.6)
Other comprehensive (loss) income before reclassifications	0.5	(2.2)
Amounts reclassified from accumulated other comprehensive income	0	0
Total other comprehensive income (loss), net of tax	0.5	(2.2)
Ending balance	$ (7.1)	$ (8.8)

Equity - Tax Effects Related to

Equity - Tax Effects Related to Each Component of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	$ 9.3	$ 0.2
Tax Benefit (Expense)	(2.5)	0.7
Total other comprehensive income (loss), net of tax	6.8	0.9
Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	8.6	2.4
Tax Benefit (Expense)	(2.3)	0.7
Total other comprehensive income (loss), net of tax	6.3	3.1
Foreign Currency Translation Losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	0.7	(2.2)
Tax Benefit (Expense)	(0.2)	0
Total other comprehensive income (loss), net of tax	$ 0.5	$ (2.2)

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2022segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Reconcili

Segment Information - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	$ 307.5	$ 343
Gross margin	142	222.4
Changes in fair value of contingent consideration	0.5	1.1
Adjusted gross margin	142.5	223.5
Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	9.6	21.3
Gross margin	0	0
Adjusted gross margin	0	0
Contracts and grants
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	9.6	21.3
Contracts and grants | Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	9.6	21.3
Product sales, net
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	237.1	137.9
Cost of goods and services sold	(80.3)	(52.6)
Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	51.8	67.6
Cost of goods and services sold	(75.6)	(46.7)
Products
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	237.1	137.9
Gross margin	156.8	85.3
Changes in fair value of contingent consideration	0.5	1.1
Adjusted gross margin	157.3	86.4
Products | Product sales, net
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Cost of goods and services sold	(80.3)	(52.6)
Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	60.8	183.8
Gross margin	(14.8)	137.1
Adjusted gross margin	(14.8)	137.1
Services | Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Cost of goods and services sold	$ (75.6)	$ (46.7)

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Depreciation:
Total	$ 16.6	$ 13.6
Other
Depreciation:
Total	1.4	1.1
Products
Depreciation:
Total	7.4	7.2
Services
Depreciation:
Total	$ 7.8	$ 5.3