Shire (SHPG) 10-Q 2 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 21, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	936,402
Entity Filer Category	Large Accelerated Filer
Trading Symbol	SHP, SHPG
Entity Registrant Name	Shire plc
Entity Common Stock, Shares Outstanding		907,025,186
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 369	$ 528.8
Restricted cash	34.1	25.6
Accounts receivable, net	2,579.5	2,616.5
Inventories	3,345.8	3,562.3
Prepaid expenses and other current assets	787.2	806.3
Total current assets	7,115.6	7,539.5
Investments	226.2	191.6
Property, plant and equipment, net	6,496.1	6,469.6
Goodwill	19,149.1	17,888.2
Intangible assets, net	32,834.1	34,697.5
Deferred tax asset	125.5	96.7
Other non-current assets	213.5	152.3
Total assets	66,160.1	67,035.4
Current liabilities:
Accounts payable and accrued expenses	3,551.3	4,312.4
Short term borrowings and capital leases	3,049.5	3,068
Other current liabilities	409.6	362.9
Total current liabilities	7,010.4	7,743.3
Long term borrowings and capital leases	19,495.9	19,899.8
Deferred tax liability	7,752.6	8,322.7
Other non-current liabilities	2,169.3	2,121.6
Total liabilities	36,428.2	38,087.4
Commitments and contingencies
Equity:
Common stock of 5p par value; 1,500 shares authorized; and 914.1 shares issued and outstanding (2016: 1,500 shares authorized; and 912.2 shares issued and outstanding)	81.4	81.3
Additional paid-in capital	24,850.9	24,740.9
Treasury stock: 8.4 shares (2016: 9.1 shares)	(283)	(301.9)
Accumulated other comprehensive loss	(1,227.1)	(1,497.6)
Retained earnings	6,309.7	5,925.3
Total equity	29,731.9	28,948
Total liabilities and equity	$ 66,160.1	$ 67,035.4

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - £ / shares shares in Millions	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common Stock, Par Value (in GBP per share)	£ 0.05	£ 0.05
Common Stock, Shares Authorized	1,500	1,500
Common Stock, Shares, Issued	914.1	912.2
Common Stock, Shares, Outstanding	914.1	912.2
Treasury Stock, Shares	8.4	9.1

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Product sales	$ 3,412.3	$ 1,627.3
Royalties and other revenues	160	82
Total revenues	3,572.3	1,709.3
Costs and expenses:
Cost of sales	1,327	248.6
Research and development	379.3	217.1
Selling, general and administrative	888.9	474.9
Amortization of acquired intangible assets	364	134.6
Integration and acquisition costs	116	91.1
Reorganization costs	5.5	3.3
Gain on sale of product rights	(5.5)	(4.2)
Total operating expenses	3,075.2	1,165.4
Operating income from continuing operations	497.1	543.9
Interest income	3.1	1
Interest expense	(142.3)	(44.7)
Other income/(expense), net	4.5	(8.5)
Total other expense, net	(134.7)	(52.2)
Income from continuing operations before income taxes and equity in losses of equity method investees	362.4	491.7
Income taxes	(6.8)	(82.1)
Equity in losses of equity method investees, net of taxes	(0.8)	(0.1)
Income from continuing operations, net of taxes	354.8	409.5
Gain from discontinued operations, net of taxes	20.2	9.5
Net income	$ 375	$ 419
Earnings per Ordinary Share – basic
Earnings from continuing operations (in usd per share)	$ 0.39	$ 0.69
Earnings from discontinued operations (in usd per share)	0.02	0.02
Earnings per ordinary share - basic (in usd per share)	0.41	0.71
Earnings per Ordinary Share – diluted
Earnings from continuing operations (in usd per share)	0.39	0.69
Earnings from discontinued operations (in usd per share)	0.02	0.02
Earnings per ordinary share - diluted (in usd per share)	$ 0.41	$ 0.71
Weighted average number of shares:
Basic (in shares)	904.1	591.7
Diluted (in shares)	911.8	593.3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 375	$ 419
Other comprehensive income:
Foreign currency translation adjustments	265.5	24.7
Pension and other employee benefits (net of tax benefit of $0.4 and $nil)	7.4	0
Unrealized gain/(loss) on available-for-sale securities (net of tax expense of $2.2 and $nil)	2.1	(0.3)
Hedging activities (net of tax benefit of $2.7 and $nil)	(4.5)	0
Comprehensive income	645.5	$ 443.4
Components of accumulated other comprehensive loss
Foreign currency translation adjustments	(1,239.9)		$ (1,505.4)
Pension and other employee benefits, net of taxes	2.2		(5.2)
Unrealized holding gain on available-for-sale securities, net of taxes	8.7		6.6
Hedging activities, net of taxes	1.9		6.4
Accumulated other comprehensive loss	$ (1,227.1)		$ (1,497.6)

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Pension and other employee benefits, tax benefit	$ 0.4	$ 0
Unrealized holding (loss)/gain on available-for-sale securities, tax	2.2	0
Hedging activities, tax benefit	$ 2.7	$ 0

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($) shares in Millions, $ in Millions	Total	Common stock	Additional paid-in capital	Treasury stock	Accumulated other comprehensive loss	Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative-effect adjustment from adoption of ASU 2016-09	$ 39		$ 10.7			$ 28.3
Beginning balance at Dec. 31, 2016	$ 28,948	$ 81.3	24,740.9	$ (301.9)	$ (1,497.6)	5,925.3
Beginning balance (in shares) at Dec. 31, 2016	912.2	912.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 375					375
Other comprehensive income net of tax	270.5				270.5
Shares issued under employee benefit plans and other (in shares)		1.9
Shares issued under employee benefit plans and other	46.7	$ 0.1	46.6
Share-based compensation	52.7		52.7
Shares released by employee benefit trust to satisfy exercise of stock options	0			18.9		(18.9)
Ending balance at Mar. 31, 2017	$ 29,731.9	$ 81.4	$ 24,850.9	$ (283)	$ (1,227.1)	$ 6,309.7
Ending balance (in shares) at Mar. 31, 2017	914.1	914.1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 375	$ 419
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	486.9	168.9
Share based compensation	52.7	18.3
Amortization of deferred financing fees	3.2	20
Expense related to the unwind of inventory fair value adjustments	480.4	12.8
Change in deferred taxes	(135.5)	(10.1)
Change in fair value of contingent consideration	(3.5)	11.4
Other, net	26.8	(14.5)
Changes in operating assets and liabilities:
Increase in accounts receivable	(35.3)	(100.9)
Increase in sales deduction accrual	17.5	73.6
Increase in inventory	(151.8)	(32.2)
Decrease/(increase) in prepayments and other assets	14.2	(22.2)
Decrease in accounts payable and other liabilities	(671.5)	(154.6)
Net cash provided by operating activities	459.1	389.5
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of PP&E and non-current investments	(212.5)	(51.6)
Purchases of businesses, net of cash acquired	0	(5,692.8)
Movements in restricted cash	(8.5)	64.8
Other, net	1.2	5.5
Net cash used in investing activities	(219.8)	(5,674.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	1,401.9	6,305
Repayment of revolving line of credit, long term and short term borrowings	(1,825.7)	(995.1)
Debt issuance costs	0	(93.8)
Proceeds from exercise of options	22.1	0.1
Other, net	(0.1)	0.9
Net cash (used in)/provided by financing activities	(401.8)	5,217.1
Effect of foreign exchange rate changes on cash and cash equivalents	2.7	1
Net decrease in cash and cash equivalents	(159.8)	(66.5)
Cash and cash equivalents at beginning of period	528.8	135.5
Cash and cash equivalents at end of period	369	69
Supplemental information:
Interest paid	108.2	13.9
Income taxes paid, net	$ 23.1	$ 89.6

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation These interim financial statements of Shire plc and its subsidiaries (collectively “Shire” or the “Company”) are unaudited. They have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Consolidated Balance Sheet as of December 31, 2016 was derived from the audited Consolidated Financial Statements as of that date. These interim Unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 , as filed with the SEC on February 22, 2017. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. However, these interim financial statements include all adjustments, consisting of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period and the Company believes that the disclosures are adequate to make the information presented not misleading. Interim results are not necessarily indicative of results to be expected for the full year. On June 3, 2016, the Company completed its acquisition of Baxalta for $32.4 billion , representing the preliminary fair value of purchase consideration. The Company’s Unaudited Consolidated Financial Statements include the results of Baxalta from the date of acquisition. For further details regarding the acquisition, refer to Note 2 , Business Combinations , of these Unaudited Consolidated Financial Statements. During the second quarter of 2016, due to the Baxalta acquisition, the Company concluded that it was appropriate to reclassify the Amortization of acquired intangibles from Selling, general and administrative on the Unaudited Consolidated Statements of Operations. Accordingly, the Company reclassified the Amortization of acquired intangibles from Selling, general and administrative in the comparative period to conform to the current classification. Use of Estimates The preparation of Financial Statements, in conformity with U.S. GAAP and SEC regulations, requires management to make estimates, judgments and assumptions that affect the reported and disclosed amounts of assets, liabilities and equity at the date of the Unaudited Consolidated Financial Statements and reported amounts of revenues and expenses during the period. On an on-going basis, the Company evaluates its estimates, judgments and methodologies. Estimates are based on historical experience, current conditions and on various other assumptions that are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amounts of revenues and expenses. Actual results may differ from these estimates under different assumptions or conditions. New Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed below, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company’s financial position or results of operations upon adoption. Adopted during the current period Inventory In July 2015, the FASB issued new guidance which requires an entity to measure inventory at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this standard as of January 1, 2017, which did not impact the Company's financial position or results of operations. Share-Based Payment Accounting In March 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The new standard requires recognition of the income tax effects of vested or settled awards in the income statement and involves several other aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows and allows a one-time accounting policy election to account for forfeitures as they occur. The new standard is effective starting January 1, 2017. The Company adopted ASU 2016-09 in the first quarter of 2017. Before adoption, excess tax benefits or deficiencies from the Company's equity awards were recorded as Additional paid-in capital in its Consolidated Balance Sheets. Upon adoption, the Company recorded any excess tax benefits or deficiencies from its equity awards in its Consolidated Statements of Operations in the reporting periods in which vesting or settlement occurs. Amendments related to accounting for excess tax benefits have been adopted prospectively, resulting in recognition of excess tax benefits against Income taxes rather than Additional paid-in capital of $11.5 million for the three months ended March 31, 2017. As a result of the adoption, the Company recorded an adjustment to Retained earnings of $39.0 million to recognize net operating loss carryforwards attributable to excess tax benefits on stock compensation that had not been previously recognized to Additional paid-in capital. Excess tax benefits for share-based payments are now included in Net cash provided by operating activities rather than Net cash provided by financing activities. The changes have been applied prospectively in accordance with the ASU and prior periods have not been adjusted. Upon adoption of ASU 2016-09, the Company elected to account for forfeitures in relation to service conditions as they occur. The change was applied on a modified retrospective basis with a cumulative effect adjustment to Retained earnings of $10.7 million as of January 1, 2017. Definition of a Business In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. This new standard clarifies the definition of a business and provides guidance to determine when an integrated set of assets and activities is not a business. The Company adopted this standard prospectively on January 1, 2017. To be adopted in future periods Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test of Goodwill Impairment. This new standard simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. This standard will be effective for the Company as of January 1, 2020, with early adoption permitted for annual goodwill impairment tests performed after January 1, 2017. The Company does not expect the adoption of this standard to have a material impact on its financial position and results of operations. Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes all existing revenue recognition requirements, including most industry-specific guidance. The new standard requires a company to recognize revenue when it transfers goods or services to customers in an amount that reflects the consideration that the company expects to receive for those goods or services. The new standard also requires additional qualitative and quantitative disclosures. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delayed the effective date of the new standard from January 1, 2017 to January 1, 2018. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. The FASB has subsequently issued five additional ASUs amending the guidance in Topic 606, each with the same effective date and transition date of January 1, 2018. This amended guidance has been considered in the Company’s overall assessment of the new standard. Shire will adopt this standard on the effective date of January 1, 2018. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance. The Company has identified two primary revenue streams from contracts with customers as part of its initial assessment: 1) product sales and 2) licensing arrangements. Shire is in the process of evaluating these contracts and is not yet able to estimate the anticipated impact to the Company’s financial statements from the application of the new standard. Financial Instrument Accounting In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The new standard amends certain aspects of accounting and disclosure requirements of financial instruments, including the requirement that equity investments with readily determinable fair values be measured at fair value with changes in fair value recognized in the results of operations. This standard will be effective for the Company as of January 1, 2018. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The new accounting guidance will require the recognition of all lease assets and lease liabilities by lessees and sets forth new disclosure requirements for those lease assets and liabilities. The standard requires lessees to recognize right-of-use assets and lease liabilities on the balance sheet using a modified retrospective approach at the beginning of the earliest comparative period in the financial statements. This standard will be effective for the Company as of January 1, 2019. Early adoption is permitted. The Company is currently evaluating the potential impact on its financial position and results of operations of adopting this guidance. Statement of Cash Flows In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The new standard clarifies certain aspects of the statement of cash flows, and aims to reduce diversity in practice regarding how certain transactions are classified in the statement of cash flows. This standard will be effective for the Company as of January 1, 2018. Early adoption is permitted. The adoption of this guidance is not expected to have a significant impact on the Company's Consolidated Statement of Cash Flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The new guidance is intended to reduce diversity in the presentation of restricted cash and restricted cash equivalents in the statement. The guidance requires that restricted cash and restricted cash equivalents be included as components of total cash and cash equivalents as presented on the statement of cash flows. This standard will be effective for the Company as of January 1, 2018. The adoption of this guidance is not expected to have a significant impact on the Company's Consolidated Statements of Cash Flows. Income Taxes In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers Other than Inventory. This standard removes the current exception in U.S. GAAP prohibiting entities from recognizing current and deferred income tax expenses or benefits related to transfer of assets, other than inventory, within the consolidated entity. The current exception to defer the recognition of any tax impact on the transfer of inventory within the consolidated entity until it is sold to a third party remains unaffected. This standard will be effective for the Company as of January 1, 2018, with the early adoption permitted. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance. Retirement Benefits Income Statement Presentation In March 2017, the FASB issued ASU 2017-07 Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The standard amends the income statement presentation of the components of net periodic benefit cost for defined benefit pension and other postretirement plans. The standard requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present it with other current compensation costs for related employees in the income statement and (2) present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented. The standard also requires entities to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. This standard will be effective for the Company as of January 1, 2018. The Company does not expect the adoption of this standard to have a material impact on its financial position and results of operations.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Business Combinations	Business Combinations Acquisition of Baxalta On June 3, 2016, Shire acquired all of the outstanding common stock of Baxalta for $18.00 per share in cash and 0.1482 Shire American Depository Shares (“ADSs”) per Baxalta share, or if a former Baxalta shareholder properly elected, 0.4446 Shire ordinary shares per Baxalta share. Baxalta was a global biopharmaceutical company that focused on developing, manufacturing and commercializing therapies for orphan diseases and underserved conditions in hematology, immunology and oncology. The preliminary fair value of the purchase price consideration consisted of the following: (In millions) Estimated fair value Cash paid to shareholders $ 12,366.7 Fair value of stock issued to shareholders 19,353.2 Fair value of partially vested stock options and RSUs assumed 508.8 Contingent consideration payable 165.0 Total Purchase Consideration $ 32,393.7 The acquisition of Baxalta was accounted for as a business combination using the acquisition method of accounting. Shire issued 305.2 million shares to former Baxalta shareholders at the date of the acquisition. For a more detailed description of the fair value of the partially vested stock options and RSUs assumed, refer to Note 27 , Share-based Compensation Plans , of Shire's 2016 Form 10-K. The assets acquired and the liabilities assumed from Baxalta have been recorded at their preliminary fair value as of June 3, 2016, the date of acquisition. The Company’s Unaudited Consolidated Financial Statements included the results of Baxalta from the date of acquisition. The Company's preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the acquisition date, including measurement period adjustments, is outlined below. (In millions) Preliminary value as of acquisition date (as previously reported as of December 31, 2016) Measurement period adjustments Preliminary values as of March 31, 2017 ASSETS Current assets: Cash and cash equivalents $ 583.2 $ — $ 583.2 Accounts receivable 1,069.7 (95.0 ) 974.7 Inventories 3,893.4 97.8 3,991.2 Other current assets 576.0 — 576.0 Total current assets 6,122.3 2.8 6,125.1 Property, plant and equipment 5,452.7 (38.0 ) 5,414.7 Investments 128.2 — 128.2 Goodwill 11,422.4 1,213.8 12,636.2 Intangible assets Currently marketed products 21,995.0 (1,105.0 ) 20,890.0 In-Process Research and Development ("IPR&D") 730.0 (580.0 ) 150.0 Contract based arrangements 42.2 — 42.2 Other non-current assets 155.0 62.4 217.4 Total assets $ 46,047.8 $ (444.0 ) $ 45,603.8 LIABILITIES Current liabilities: Accounts payable and accrued expenses $ 1,321.9 $ (15.5 ) $ 1,306.4 Other current liabilities 354.4 7.5 361.9 Long-term borrowings 5,424.9 — 5,424.9 Deferred tax liability 5,445.3 (432.0 ) 5,013.3 Other non-current liabilities 1,103.6 — 1,103.6 Total liabilities $ 13,650.1 $ (440.0 ) $ 13,210.1 Preliminary fair value of identifiable assets acquired and liabilities assumed $ 32,397.7 $ (4.0 ) $ 32,393.7 Consideration Preliminary fair value of purchase consideration $ 32,397.7 $ (4.0 ) $ 32,393.7 The measurement period adjustments for Intangible assets reflect changes in the estimated fair value of currently marketed products and IPR&D. Changes are mainly related to finalizing the unit of account judgments and other changes in estimates including Cost of sales allocation. The measurement period adjustments for Inventory primarily reflect refinements in the estimated selling price of inventory. The changes in the estimated fair values are primarily to more accurately reflect market participant assumptions about facts and circumstances existing as of the acquisition date. The measurement period adjustments did not result from intervening events subsequent to the acquisition date. As a result of measurement period adjustments related to the change in fair value of currently marketed products and inventory, a charge of $95.6 million was recognized in Cost of sales and a benefit of $27.8 million was recognized in Amortization of acquired intangible assets, respectively, in the Company's Unaudited Consolidated Statements of Operations for the three months ended March 31, 2017. These adjustments would have been recorded during the year ended December 31, 2016 if these adjustments had been recognized as of the acquisition date. The Company is currently completing its evaluation of information, assumptions and valuation methodologies it used in its preliminary fair value of the purchase price consideration. The purchase price allocation is preliminary pending final determination of the fair values of certain assets and liabilities. As of March 31, 2017 , certain items related to the measurement of PP&E, Inventory, Intangible assets and current and deferred taxes have not been finalized and may be subject to change as additional information is received and certain tax returns are finalized. The finalization of these matters and any additional information received that existed as of acquisition date may result in changes to the underlying assets, liabilities and goodwill. These changes may be material. The final determination of these fair values will be completed as soon as possible but no later than one year from the acquisition date. Intangible assets The preliminary fair value of the identifiable intangible assets has been estimated using an income approach, which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the incremental after tax cash flows an asset would generate over its remaining useful life. The preliminary useful lives for currently marketed products were determined based upon the remaining useful economic lives of the assets that are expected to contribute to future cash flows. Currently marketed products totaling $20,890.0 million relate to intellectual property (“IP”) rights acquired for Baxalta’s currently marketed products. The estimated useful life of the intangible assets related to currently marketed products range from 6 to 23 years (weighted average 21 years), with amortization being recorded on a straight-line basis. IPR&D intangible assets totaling $150.0 million represent the value assigned to research and development ("R&D") projects acquired. The IPR&D intangible assets are capitalized and accounted for as indefinite-lived intangible assets and will be subject to impairment testing until completion or abandonment of the projects. Upon successful completion of each project, the Company will make a separate determination of the estimated useful life of the IPR&D intangible asset and the related amortization will be recorded as an expense over the estimated useful life. Some of the more significant assumptions inherent in the development of those asset valuations include the estimated net cash flows for each year for each asset or product (including net revenues, cost of sales, R&D costs, selling and marketing costs, working capital/asset contributory asset charges and other cash flow assumptions), the appropriate discount rate to select in order to measure the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, the potential regulatory and commercial success risks, competitive trends impacting the asset and each cash flow stream as well as other factors. The discount rate used to arrive at the present value at the acquisition date of the IPR&D intangible assets was 9.5% to reflect the internal rate of return and incremental commercial uncertainty in the cash flow projections. No assurances can be given that the underlying assumptions used to prepare the discounted cash flow analysis will not change. For these and other reasons, actual results may vary significantly from estimated results. Goodwill Goodwill of $12,636.2 million , which is not deductible for tax purposes, includes the expected synergies that will result from combining the operations of Baxalta with Shire, intangible assets that do not qualify for separate recognition at the time of the acquisition, the value of the assembled workforce, and impacted by establishing a deferred tax liability for the acquired identifiable intangible assets which have no tax basis. Contingent consideration The Company acquired certain contingent obligations classified as contingent consideration related to Baxalta’s historical business combinations. Additional consideration is conditionally due upon the achievement of certain milestones related to the development, regulatory, first commercial sale and other sales milestones, which could total up to approximately $1.5 billion . The Company may also pay royalties based on certain product sales. The Company estimated the preliminary fair value of the assumed contingent consideration to be $165.0 million using a probability weighting approach that considered the possible outcomes based on assumptions related to the timing and probability of the product launch date, discount rates matched to the timing of first payment, and probability of success rates and discount adjustments on the related cash flows. Inventory The preliminary estimated fair value of work-in-process and finished goods inventory was determined utilizing the Net realizable value, based on the expected selling price of the inventory, adjusted for incremental costs to complete the manufacturing process and for direct selling efforts, as well as for a reasonable profit allowance. The preliminary estimated fair value of raw material inventory was valued at replacement cost, which is equal to the value a market participant would pay to acquire the inventory. The fair value adjustment related to inventory is expensed based on the expected product-specific inventory utilization, which is reviewed on a periodic basis and is recorded within Cost of sales in the Company's Unaudited Consolidated Statements of Operations. Retirement plans The Company assumed pension plans as part of the acquisition of Baxalta, including defined benefit and post-retirement benefit plans in the United States and foreign jurisdictions which had a net liability balance of $610.4 million . As of June 3, 2016, the Baxalta defined benefit pension plans had assets with a fair value of $358.5 million . Integration and acquisition costs In the three months ended March 31, 2017 , the Company expensed $118.5 million relating to the acquisition and integration of Baxalta, which have been recorded within Integration and acquisition costs in the Company’s Unaudited Consolidated Statements of Operations. Supplemental disclosure of pro forma information The following unaudited pro forma financial information presents the combined results of the operations of Shire and Baxalta as if the acquisition of Baxalta had occurred as of January 1, 2015. The unaudited pro forma financial information is not necessarily indicative of what the consolidated results of operations actually would have been had the respective acquisitions been completed on January 1, 2015. In addition, the unaudited pro forma financial information does not purport to project the future results of operations of the combined Company. Three months ended March 31, (In millions, except per share amounts) 2016 Revenues $ 3,257.3 Net (loss)/income from continuing operations 305.1 Per share amounts: Net (loss)/income from continuing operations per share - basic $ 0.52 Net (loss)/income from continuing operations per share - diluted $ 0.51 The unaudited pro forma financial information above reflects the following pro forma adjustments: (i) an adjustment to increase net income for the three months ended March 31, 2016 by $39.5 million to eliminate integration and acquisition related costs incurred by Shire and Baxalta; (ii) an adjustment to decrease net income for the three months ended March 31, 2016 by $46.9 million to reflect the expense related to the unwind of inventory fair value adjustments as inventory is sold; (iii) an adjustment to increase amortization expense for the three months ended March 31, 2016 by $181.8 million related to the identifiable intangible assets acquired; and (iv) an adjustment to decrease net income for the three months ended March 31, 2016 by $60.3 million primarily related to the additional interest expense associated with the debt incurred to partially fund the acquisition of Baxalta and the amortization of related deferred debt issuance costs. The adjustments above are stated net of their tax effects, where applicable. Acquisition of Dyax On January 22, 2016, Shire acquired all of the outstanding common stock of Dyax for $37.30 per share in cash. Under the terms of the merger agreement, former Dyax shareholders may receive additional value through a non-tradable contingent value right worth $4.00 per share, payable upon U.S. Food and Drug Administration (“FDA”) approval of SHP643 (formerly DX-2930) in Hereditary Angioedema (“HAE”). Dyax was a publicly-traded, Massachusetts-based rare disease biopharmaceutical company primarily focused on the development of plasma kallikrein (“pKal”) inhibitors for the treatment of HAE. Dyax’s most advanced clinical program was SHP643, a Phase 3 program with the potential for improved efficacy and convenience for HAE patients. SHP643 has received Fast Track, Breakthrough Therapy, and Orphan Drug Designations by the FDA and has also received Orphan Drug status in the EU. Dyax’s sole marketed product, KALBITOR, is a pKal inhibitor for the treatment of acute attacks of HAE in patients 12 years of age and older. The acquisition of Dyax was accounted for as a business combination using the acquisition method. The acquisition-date fair value consideration was $6,330.0 million , comprising cash paid on closing of $5,934.0 million and the fair value of the contingent value right of $396.0 million (maximum payable $646.0 million ). The assets acquired and the liabilities assumed from Dyax have been recorded at their fair value as of January 22, 2016, the date of acquisition. The Company’s Unaudited Consolidated Financial Statements include the results of Dyax as of January 22, 2016. The purchase price allocation for the acquisition of Dyax was finalized in the first quarter of 2017. There were no adjustments made to the fair values during the period three months ended March 31, 2017. The allocation of the total purchase price is outlined below. (In millions) Fair value ASSETS Current assets: Cash and cash equivalents $ 241.2 Accounts receivable 22.5 Inventories 20.2 Other current assets 8.1 Total current assets 292.0 Property, plant and equipment 5.8 Goodwill 2,702.1 Intangible assets Currently marketed projects 135.0 IPR&D 4,100.0 Contract based royalty arrangements 425.0 Other non-current assets 28.6 Total assets $ 7,688.5 LIABILITIES Current liabilities: Accounts payable and accrued expenses $ 30.0 Other current liabilities 1.7 Deferred tax liability 1,325.4 Other non-current liabilities 1.4 Total liabilities 1,358.5 Fair value of identifiable assets acquired and liabilities assumed $ 6,330.0 Consideration Fair value of purchase consideration $ 6,330.0 Currently marketed products Currently marketed products totaling $135.0 million relate to intellectual property rights acquired for KALBITOR. The fair value of the currently marketed product has been estimated using an income approach, based on the present value of incremental after tax cash flows attributable to KALBITOR. The estimated useful life of the KALBITOR intangible asset is 18 years, with amortization being recorded on a straight-line basis. IPR&D The IPR&D asset of $4,100.0 million relates to Dyax’s clinical program SHP643, a Phase 3 program with the potential for improved efficacy and convenience for HAE patients. The IPR&D intangible asset is capitalized and accounted for as indefinite-lived intangible assets and will be subject to impairment testing until completion or abandonment of the projects. The fair value of this IPR&D asset was estimated based on an income approach, using the present value of incremental after tax cash flows expected to be generated by this development project. The estimated cash flows have been probability adjusted to take into account the development stage of completion and the remaining risks and uncertainties surrounding the future development and commercialization. The estimated probability adjusted after tax cash flows used to estimate the fair value of intangible assets have been discounted at 9% . Royalty rights Intangible assets totaling $425.0 million relate to royalty rights arising from licensing agreements of a portfolio of product candidates. This portfolio includes two approved products, marketed by Eli Lilly & Company, and various development-stage products. Multiple product candidates with other pharmaceutical companies are in various stages of clinical development for which the Company is eligible to receive future royalties and/or milestone payments. The fair value of these royalty rights has been estimated using an income approach, based on the present value of incremental after-tax cash flows attributable to each royalty right. The estimated useful lives of these royalty rights range from seven to nine years (weighted average eight years), with amortization being recorded on a straight-line basis. Goodwill Goodwill of $2,702.1 million , which is not deductible for tax purposes, includes the expected synergies that will result from combining the operations of Dyax with Shire; intangible assets that do not qualify for separate recognition at the time of the acquisition; the value of the assembled workforce; and impacted by establishing a deferred tax liability for the acquired identifiable intangible assets which have no tax basis. Integration and acquisition costs In the three months ended March 31, 2017 , the Company had immaterial Integration and acquisition costs in relation to Dyax in the Company’s Unaudited Consolidated Statements of Operations. Supplemental disclosure of pro forma information The following unaudited pro forma financial information presents the combined results of the operations of Shire and Dyax as if the acquisitions of Dyax had occurred as of January 1, 2015. The unaudited pro forma financial information is not necessarily indicative of what the consolidated results of operations actually would have been had the respective acquisitions been completed at the date indicated. In addition, the unaudited pro forma financial information does not purport to project the future results of operations of the combined Company. Three months ended March 31, (In millions, except per share amounts) 2016 Revenues $ 1,715.2 Net income from continuing operations 401.6 Per share amounts: Net income from continuing operations per share - basic $ 0.68 Net income from continuing operations per share - diluted $ 0.68 The unaudited pro forma financial information above reflects the following pro forma adjustments: (i) an adjustment to increase net income for the three months ended March 31, 2016 by $99.2 million to eliminate acquisition related costs incurred by Shire and Dyax and (ii) an adjustment to increase amortization expense for the three months ended March 31, 2016 by $1.3 million related to the identifiable intangible assets acquired. The adjustments above are stated net of their tax effects, where applicable.

Integration and Acquisition Cos

Integration and Acquisition Costs	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Integration and Acquisition Costs	Integration and Acquisition Costs For the three months ended March 31, 2017 , Shire recorded Integration and acquisition costs of $116.0 million primarily due to the acquisition and integration of Baxalta. These costs include $36.9 million of employee severance and acceleration of stock compensation, $35.2 million of third-party professional fees and $24.5 million of expenses associated with facility consolidations. The Company expects the majority of those expenses, except for certain costs related to facility consolidations, to be paid within the next 12 months. As part of the Company’s activities to integrate Baxalta, it terminated certain employees and announced plans to close certain offices, which includes lease termination costs. The integration of Baxalta is estimated to be completed by mid to late 2019 and the Company is continuing to evaluate the total costs expected to be incurred. The following table summarizes the type and amount of integration costs recorded as of March 31, 2017 : (In millions) Severance and employee benefits Lease terminations Total As of January 1, $ 74.0 $ — $ 74.0 Amount charged to integration costs 23.2 24.5 47.7 Paid/utilized (30.9 ) (2.4 ) (33.3 ) As of March 31, $ 66.3 $ 22.1 $ 88.4 For the three months ended March 31, 2016 , Shire recorded integration and acquisition costs of $91.1 million primarily related to the acquisition and integration of Dyax and the proposed acquisition of Baxalta. These costs primarily consist of $58.5 million acquisition costs including legal, investment banking and other transaction-related fees, as well as $11.0 million of employee severance and acceleration of stock compensation, $10.0 million of third-party professional fees and an $11.4 million change in fair value of contingent consideration. The Company did not have any reserve related to employee termination for the three months ended March 31, 2016 .

Results of Discontinued Operati

Results of Discontinued Operations	3 Months Ended
	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Results of Discontinued Operations	Results of Discontinued Operations Following the divestment of the Company’s DERMAGRAFT business in January 2014, the operating results associated with the DERMAGRAFT business have been classified as discontinued operations in the Company’s Unaudited Consolidated Statements of Operations for all periods presented. For the three months ended March 31, 2017 , the Company recorded a gain of $20.2 million (net of tax expense of $11.6 million ) primarily related to the release of escrow to Shire and legal contingencies related to the divested DERMAGRAFT business. In January 2017, Shire entered into a final settlement agreement with the Department of Justice ("DOJ") in the amount of $350.0 million , plus interest which was accrued in 2016. Shire paid $345.5 million of the settlement amount during three months ended March 31, 2017 and anticipates the remaining payment will be made in the second quarter of 2017. After the civil settlement with the DOJ had been finalized, Shire and ABH’s equity holders entered into a settlement agreement and ABH’s equity holders released the $37.5 million escrow to Shire. Shire released the claims against ABH equity holders upon receiving the entire amount held in escrow. For a more detailed description of the DERMAGRAFT legal proceedings, refer to Note 25 , Legal and Other Proceedings , of Shire's 2016 Form 10-K. For the three months ended March 31, 2016 , the Company recorded a gain of $9.5 million (net of tax expense of $5.5 million ) related to costs associated with the divestment.

Accounts Receivable, Net

Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable as of March 31, 2017 of $2,579.5 million ( December 31, 2016 : $2,616.5 million ), are stated at the invoiced amount and net of reserve for discounts and doubtful accounts of $160.3 million ( December 31, 2016 : $169.6 million ). Reserve for discounts and doubtful accounts: (In millions) 2017 2016 As of January 1, $ 169.6 $ 55.8 Provision charged to operations 295.2 149.4 Payments/credits (304.5 ) (123.3 ) As of March 31, $ 160.3 $ 81.9 As of March 31, 2017 , accounts receivable included $89.4 million ( December 31, 2016 : $102.2 million ) related to royalty receivable.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost and net realizable value. Inventories comprise: (In millions) March 31, 2017 December 31, 2016 Finished goods $ 1,093.0 $ 1,380.0 Work-in-progress 1,541.7 1,491.0 Raw materials 711.1 691.3 $ 3,345.8 $ 3,562.3 For a more detailed description of inventories acquired, refer to Note 2 , Business Combinations , to these Unaudited Consolidated Financial Statements.

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net Property, plant and equipment are recorded at historical cost, net of accumulated depreciation. Components of Property, plant and equipment, net are summarized as follows: (In millions) March 31, 2017 December 31, 2016 Land $ 339.2 $ 337.9 Buildings and leasehold improvements 1,943.0 1,915.4 Machinery, equipment and other 2,642.6 2,547.2 Assets under construction 2,642.8 2,632.5 Total property, plant and equipment at cost 7,567.6 7,433.0 Less: Accumulated depreciation (1,071.5 ) (963.4 ) Property, plant and equipment, net $ 6,496.1 $ 6,469.6 Depreciation expense for the three months ended March 31, 2017 was $122.9 million and for the three months ended March 31, 2016 was $34.3 million .

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Intangible Assets The following table summarizes the Company's intangible assets: (In millions) Currently marketed products IPR&D Other intangible assets Total March 31, 2017 Gross acquired intangible assets $ 30,337.5 $ 5,127.2 $ 842.2 $ 36,306.9 Accumulated amortization (3,242.8 ) — (230.0 ) (3,472.8 ) Intangible assets, net $ 27,094.7 $ 5,127.2 $ 612.2 $ 32,834.1 December 31, 2016 Gross acquired intangible assets $ 31,217.5 $ 5,746.6 $ 842.2 $ 37,806.3 Accumulated amortization (2,908.6 ) — (200.2 ) (3,108.8 ) Intangible assets, net $ 28,308.9 $ 5,746.6 $ 642.0 $ 34,697.5 Intangible assets are comprised primarily of royalty rights and other contract rights associated with Baxalta, Dyax and NPS. The change in the net book value of intangible assets for the three months ended March 31, 2017 and 2016 is shown in the table below: (In millions) 2017 2016 As of January 1, $ 34,697.5 $ 9,173.3 Acquisitions (1,685.0 ) 4,660.9 Amortization charged (364.0 ) (134.6 ) Foreign currency translation 185.6 16.0 As of March 31, $ 32,834.1 $ 13,715.6 The decrease in Intangible assets during the three months ended March 31, 2017 relates to the measurement period adjustments of the acquisition of Baxalta. For a more detailed description of measurement period adjustments, refer to Note 2 , Business Combinations , to these Unaudited Consolidated Financial Statements. In connection with the acquisition of Baxalta, the Company acquired IP rights related to currently marketed products of $20,890.0 million , IPR&D assets of $150.0 million and other contract rights of $42.2 million . For a more detailed description of this acquisition, refer to Note 2 , Business Combinations , to these Unaudited Consolidated Financial Statements. In connection with the acquisition of Dyax on January 22, 2016, the Company acquired IP rights related to currently marketed products of $135.0 million , IPR&D assets of $4,100.0 million and royalty rights of $425.0 million . For a more detailed description of this acquisition, refer to Note 2 , Business Combinations , to these Unaudited Consolidated Financial Statements. The Company reviews its amortized intangible assets for impairment whenever events or circumstances suggest that their carrying value may not be recoverable. Unamortized intangible assets are reviewed for impairment annually or whenever events or circumstances suggest that their carrying value may not be recoverable.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following table provides a roll-forward of the goodwill balance: (In millions) 2017 2016 As of January 1, $ 17,888.2 $ 4,147.8 Acquisitions 1,213.8 2,729.5 Foreign currency translation 47.1 4.6 As of March 31, $ 19,149.1 $ 6,881.9 The increase in goodwill during the three months ended March 31, 2017 related to the measurement period adjustments of the acquisition of Baxalta. For a more detailed description of measurement period adjustments, refer to Note 2 , Business Combinations , to these Unaudited Consolidated Financial Statements.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement Assets and liabilities that are measured at fair value on a recurring basis As of March 31, 2017 and December 31, 2016 , the following financial assets and liabilities are measured at fair value on a recurring basis using quoted prices in active markets for identical assets (Level 1); significant other observable inputs (Level 2); and significant unobservable inputs (Level 3). Fair value (In millions) Total Level 1 Level 2 Level 3 As of March 31, 2017 Financial assets: Marketable equity securities $ 70.8 $ 70.8 $ — $ — Marketable debt securities 15.5 3.5 12.0 — Contingent consideration receivable 16.5 — — 16.5 Derivative instruments 9.9 — 9.9 — Total assets $ 112.7 $ 74.3 $ 21.9 $ 16.5 Financial liabilities: Joint venture net written option $ 25.0 $ — $ — $ 25.0 Derivative instruments 9.9 — 9.9 — Contingent consideration payable 1,051.2 — — 1,051.2 Total liabilities $ 1,086.1 $ — $ 9.9 $ 1,076.2 (In millions) Total Level 1 Level 2 Level 3 As of December 31, 2016 Financial assets: Marketable equity securities $ 65.8 $ 65.8 $ — $ — Marketable debt securities 15.5 3.6 11.9 — Contingent consideration receivable 15.6 — — 15.6 Derivative contracts 18.0 — 18.0 — Total assets $ 114.9 $ 69.4 $ 29.9 $ 15.6 Financial liabilities: Derivative contracts $ 8.3 $ — $ 8.3 $ — Contingent consideration payable 1,058.0 — — 1,058.0 Total liabilities $ 1,066.3 $ — $ 8.3 $ 1,058.0 Marketable equity and debt securities are included within Investments in the Unaudited Consolidated Balance Sheets. Contingent consideration receivable is included within Prepaid expenses and other current assets and Other non-current assets in the Unaudited Consolidated Balance Sheets. Contingent consideration payable is included within Other current liabilities and Other non-current liabilities in the Unaudited Consolidated Balance Sheets. For information regarding the Company's derivative arrangements, refer to Note 11 , Financial Instruments , to these Unaudited Consolidated Financial Statements. Certain estimates and judgments were required to develop the fair value amounts. The estimated fair value amounts shown above are not necessarily indicative of the amounts that the Company would realize upon disposition, nor do they indicate the Company’s intent or ability to dispose of the financial instrument. The following methods and assumptions were used to estimate the fair value of each material class of financial instrument: • Marketable equity securities: the fair values of marketable equity securities are estimated based on quoted market prices for those investments. • Marketable debt securities: the fair values of debt securities are obtained from pricing services or broker/dealers who either use quoted prices in an active market or proprietary pricing applications, which include observable market information for like or same securities. • Contingent consideration receivable: the fair value of the contingent consideration receivable has been estimated using the income approach (using a probability weighted discounted cash flow method). • Derivative contracts: the fair values of the swap and forward foreign exchange contracts have been determined using the month-end interest rate and foreign exchange rates, respectively. • Contingent consideration payable: the fair value of the contingent consideration payable has been estimated using the income approach (using a probability weighted discounted cash flow method). Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) The following table provides a roll forward of the fair values of the Company's contingent consideration receivable and payables which include Level 3 measurements: Contingent consideration receivable (In millions) 2017 2016 Balance as of January 1, $ 15.6 $ 13.8 Change in fair value included in earnings 2.3 4.2 Other (1.4 ) (2.7 ) Balance as of March 31, $ 16.5 $ 15.3 Contingent consideration payable (In millions) 2017 2016 Balance as of January 1, $ 1,058.0 $ 475.9 Acquisitions (4.0 ) 396.4 Change in fair value included in earnings (3.5 ) 11.4 Other 0.7 (1.2 ) Balance as of March 31, $ 1,051.2 $ 882.5 In 2016, the increase in contingent consideration payable was related to the Company’s acquisition of Dyax and Baxalta. Other primarily relates to foreign currency adjustments. Of the $1,051.2 million of contingent consideration payable as of March 31, 2017 , $105.4 million is recorded within Other current liabilities and $945.8 million is recorded within Other non-current liabilities in the Company’s Unaudited Consolidated Balance Sheets. Joint venture net written option During the three months ended March 31, 2017 , Shire executed option agreements related to a joint venture that provides Shire with a call option on the partner’s investment in joint venture equity and the partner with a put option on its investment in joint venture equity. The company has recorded a liability of $25.0 million for the net written option based on the estimated fair value of these options as of March 31, 2017 and in the future will re-measure the instrument to fair value through the Consolidated Statements of Operations. Quantitative Information about Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) Quantitative information about the Company’s recurring Level 3 fair value measurements is as follows: Financial assets: Fair value at the measurement date As of March 31, 2017 (In millions, except %) Fair value Valuation technique Significant unobservable inputs Range Contingent consideration receivable $ 16.5 Income approach (probability weighted discounted cash flow) • Probability weightings applied to different sales scenarios • 10 to 90% • Future forecast consideration receivable based on contractual terms with purchaser • $0 to $19.9 • Assumed market participant discount rate • 8.0% Financial liabilities: Fair value at the measurement date As of March 31, 2017 (in millions, except %) Fair value Valuation technique Significant unobservable inputs Range Contingent consideration payable $ 1,051.2 Income approach (probability weighted discounted cash flow) • Cumulative probability of milestones being achieved • 5 to 90% • Assumed market participant discount rate • 1.8 to 10.5% • Periods in which milestones are expected to be achieved • 2017 to 2040 • Forecast quarterly royalties payable on net sales of relevant products • $0.1 to $7.5 Financial liabilities: Fair value at the measurement date As of March 31, 2017 (in millions, except %) Fair value Valuation technique Significant unobservable inputs Range Joint venture net written option $ 25.0 Income approach (probability weighted discounted cash flow) • Cash flow scenario probability weighting • 0 to 65% • Assumed market participant discount rate • 16% Contingent consideration payable represents future milestones and royalties the Company may be required to pay in conjunction with various business combinations and license agreements. The fair value of the Company’s contingent consideration receivable and payable could significantly increase or decrease due to changes in certain assumptions which underpin the fair value measurements. Each set of assumptions is specific to the individual contingent consideration receivable or payable. Financial assets and liabilities that are disclosed at fair value The carrying amounts and estimated fair values as of March 31, 2017 and December 31, 2016 of the Company’s financial assets and liabilities that are not measured at fair value on a recurring basis are as follows: March 31, 2017 December 31, 2016 (In millions) Carrying amount Fair value Carrying amount Fair value Financial liabilities: Senior notes $ 12,042.1 $ 11,802.0 $ 12,039.2 $ 11,633.8 Baxalta notes 5,061.4 5,155.8 5,063.6 5,066.5 Capital lease obligation 351.9 351.9 353.6 353.6 The estimated fair values of long-term debt were based upon recent observable market prices and are considered Level 2 in the fair value hierarchy. The estimated fair value of capital lease obligations is based on Level 2 inputs. The carrying amounts of other financial assets and liabilities approximate their estimated fair value due to their short-term nature, such as liquidity and maturity of these amounts, or because there have been no significant changes since the asset or liability was last re-measured to fair value on a non-recurring basis.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2017
Derivative Instrument Detail [Abstract]
Financial Instruments	Financial Instruments Foreign Currency Contracts Due to the global nature of its operations, portions of the Company's revenues and operating expenses are recorded in currencies other than the U.S. dollar. The value of revenues and operating expenses measured in U.S. dollars is therefore subject to changes in foreign currency exchange rates. In order to mitigate these changes, the Company uses foreign currency forward contracts to lock in exchange rates associated with a portion of its forecasted international revenues and operating expenses. The main trading currencies of the Company are the U.S. dollar, Euro, British pound sterling, Swiss franc, Canadian dollar and Japanese yen. Transactional exposure arises where transactions occur in currencies different to the functional currency of the relevant subsidiary. It is the Company’s policy that these exposures are minimized to the extent practicable by denominating transactions in the subsidiary’s functional currency. Where significant exposures remain, the Company uses foreign exchange contracts (spot, forward and swap contracts) to manage the exposure for balance sheet assets and liabilities that are denominated in currencies different to the functional currency of the relevant subsidiary. The Company has master netting agreements with a number of counterparties to these foreign exchange contracts and on the occurrence of specified events, the Company has the ability to terminate contracts and settle them with a net payment by one party to the other. The Company has elected to present derivative assets and derivative liabilities on a gross basis in the Unaudited Consolidated Balance Sheet. The Company does not have credit risk related contingent features or collateral linked to the derivatives. Designated Foreign Currency Derivatives Certain foreign currency forward contracts have been designated as cash flow hedges and accordingly, to the extent effective, any unrealized gains or losses on these foreign currency forward contracts are reported in AOCI. Realized gains and losses for the effective portion of such contracts are recognized in revenue or cost of sales when the sale of product in the currency being hedged is recognized. To the extent ineffective, hedge transaction gains and losses are reported in Other income/(expense), net. The table below presents the notional amount, maximum duration and fair value for the designated foreign currency derivatives: (In millions, except duration) March 31, 2017 December 31, 2016 Notional amount $ 8.9 $ 78.7 Maximum duration (in months) 3 months 6 months Fair value - net asset $ 0.4 $ 4.2 The amount of ineffectiveness for the three months ended March 31, 2017 was immaterial. Shire did not have any foreign currency derivatives designated as hedging relationships in the three months ended March 31, 2016 . As of March 31, 2017 , the Company expects all contracts to be settled over the next 3 months and $2.0 million of deferred gains included in AOCI are expected to be recognized in earnings during the next 12 months, coinciding with when the hedged items are expected to impact earnings. The Company considers the impact of its and its counterparties’ credit risk on the fair value of the contracts as well as the ability of each party to execute its contractual obligations. As of March 31, 2017 , credit risk did not change the fair value of the Company’s foreign currency contracts. Undesignated Foreign Currency Derivatives The Company uses forward contracts to mitigate the foreign currency risk related to certain balance sheet positions, including intercompany and third-party receivables and payables. The Company has not elected hedge accounting for these derivative instruments as the duration of these contracts is typically three months or less. The changes in fair value of these derivatives are reported in earnings. The table below presents the notional amount, maximum duration and fair value for the undesignated foreign currency derivatives: (In millions, except duration) March 31, 2017 December 31, 2016 Notional amount $ 1,284.8 $ 1,309.1 Maximum duration (in months) 3 months 3 months Fair value - net asset $ 3.4 $ 6.7 Interest Rate Contracts The Company is exposed to the risk that its earnings and cash flows could be adversely impacted by fluctuations in benchmark interest rates relating to its debt obligations on which interest is set at floating rates. The Company’s policy is to manage this risk to an acceptable level. The Company is principally exposed to interest rate risk on any borrowings under the Company’s various debt facilities and on part of the senior notes assumed in connection with the acquisition of Baxalta. Interest on each of these debt obligations is set at floating rates, to the extent utilized. Shire’s exposure under these facilities is to changes in U.S. dollar interest rates. For further details related to interest rates on the Company’s various debt facilities, refer to Note 12 , Borrowings and Capital Leases , to these Unaudited Consolidated Financial Statements. Designated Interest Rate Derivatives The effective portion of the changes in the fair value of interest rate swap contracts are recorded as a component of the senior notes assumed in connection with the acquisition of Baxalta with the ineffective portion recorded in Interest expense. Any net interest payments made or received on the interest rate swap contracts are recognized as a component of Interest expense in the Unaudited Consolidated Statements of Operations. The table below presents the notional amount, maturity and fair value for the designated interest rate derivatives: (In millions, except maturity) March 31, 2017 December 31, 2016 Notional amount $ 1,000.0 $ 1,000.0 Maturity June 2020 and June 2025 June 2020 and June 2025 Fair value - net liability $ (3.8 ) $ (1.2 ) For the three months ended March 31, 2017 , the Company recognized losses of $1.2 million as ineffectiveness related to these contracts as a component of Interest expense. Shire did not have any interest rate derivatives designated as hedging relationships in the three months ended March 31, 2016 . Undesignated Interest Rate Derivatives As of March 31, 2017 and December 31, 2016 , the Company did not have any outstanding undesignated interest rate derivate instruments. Summary of Derivatives The following tables summarize the income statement locations and gains and losses on the Company’s designated and undesignated derivative instruments: (In millions) Gain (loss) recognized in OCI Income Statement location Gain (loss) reclassified from AOCI into income Three months ended 2017 2016 2017 2016 Designated derivative instruments Cash flow hedges Foreign exchange contracts $ (0.6 ) $ — Cost of sales $ 6.6 $ — (In millions) Income Statement location Gain (loss) recognized in income Three months ended 2017 2016 Fair value hedges Interest rate contracts Interest expense $ (1.2 ) $ — Undesignated derivative instruments Foreign exchange contracts Other income/(expense), net (15.3 ) (24.1 ) Interest rate swap contracts Interest expense — (2.0 ) Summary of Derivatives The following table presents the classification and estimated fair value of derivative instruments: Asset position Liability position (In millions) Fair value Fair value Balance Sheet location March 31, 2017 December 31, 2016 Balance Sheet location March 31, 2017 December 31, 2016 Designated derivative Instruments Foreign exchange contracts Prepaid expenses and other current assets $ 0.4 $ 4.3 Accounts payable and accrued expenses $ — $ 0.1 Interest rate contracts Long term borrowings — 0.1 Long term borrowings 3.8 1.3 $ 0.4 $ 4.4 $ 3.8 $ 1.4 Undesignated derivative instruments Foreign exchange forward contracts Prepaid expenses and other current assets $ 9.5 $ 13.6 Accounts payable and accrued expenses $ 6.1 $ 6.9 Total derivative fair value $ 9.9 $ 18.0 $ 9.9 $ 8.3 Potential effect of rights to offset (4.5 ) (1.7 ) (4.5 ) (1.7 ) Net derivative $ 5.4 $ 16.3 $ 5.4 $ 6.6

Borrowings and Capital Lease

Borrowings and Capital Lease	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Borrowings and Capital Lease	Borrowings and Capital Leases (In millions) March 31, 2017 December 31, 2016 Short term borrowings: Borrowings under the Revolving Credit Facilities Agreement $ 1,030.0 $ 450.0 Borrowings under the November 2015 Facilities Agreement 1,995.1 2,594.8 Other borrowings and capital leases (short term portion) 24.4 23.2 $ 3,049.5 $ 3,068.0 Long term borrowings: Senior notes $ 12,042.1 $ 12,039.2 Baxalta notes 5,061.4 5,063.6 Borrowings under the November 2015 Facilities Agreement 1,994.1 2,391.8 Capital leases (long term portion) 345.3 347.2 Other borrowings 53.0 58.0 $ 19,495.9 $ 19,899.8 Total borrowings and capital leases $ 22,545.4 $ 22,967.8 For a more detailed description of the Company's financing agreements, refer below and to Note 17 , Borrowings and Capital Lease Obligations , of Shire's 2016 Form 10-K. Senior Notes On September 23, 2016, Shire Acquisitions Investments Ireland Designated Activity Company ("SAIIDAC"), a wholly owned subsidiary of Shire plc, issued unsecured senior notes with a total aggregate principal value of $12.1 billion (“SAIIDAC Notes”), guaranteed by Shire plc and, as of December 1, 2016, by Baxalta. Below is a summary of the SAIIDAC Notes as of March 31, 2017 : (In millions, except %) Aggregate amount Coupon rate Effective interest rate in 2017 Carrying amount as of March 31, 2017 Fixed-rate notes due 2019 $ 3,300.0 1.900 % 2.05 % 3,288.6 Fixed-rate notes due 2021 3,300.0 2.400 % 2.53 % 3,283.8 Fixed-rate notes due 2023 2,500.0 2.875 % 2.97 % 2,488.4 Fixed-rate notes due 2026 3,000.0 3.200 % 3.30 % 2,981.3 $ 12,100.0 $ 12,042.1 As of March 31, 2017 , there was $57.9 million of debt issuance costs and discount recorded as a reduction of the carrying amount of debt. These costs will be amortized as additional interest expense using the effective interest rate method over the period from issuance through maturity. For further details on the SAIIDAC Notes, refer to Note 17 , Borrowings and Capital Lease Obligations , of Shire's 2016 Form 10-K. Baxalta Notes Shire plc guaranteed senior notes issued by Baxalta with a total aggregate principal amount of $5.0 billion in connection with the acquisition of Baxalta (“Baxalta Notes”). Below is a summary of the Baxalta Notes as of March 31, 2017 : (In millions, except %) Aggregate principal Coupon rate Effective interest rate in 2017 Carrying amount as of March 31, 2017 Variable-rate notes due 2018 $ 375.0 LIBOR plus 0.78% 2.40 % $ 372.2 Fixed-rate notes due 2018 375.0 2.000 % 2.10 % 374.8 Fixed-rate notes due 2020 1,000.0 2.875 % 2.90 % 1,003.5 Fixed-rate notes due 2022 500.0 3.600 % 3.30 % 508.0 Fixed-rate notes due 2025 1,750.0 4.000 % 4.10 % 1,771.4 Fixed-rate notes due 2045 1,000.0 5.250 % 5.20 % 1,031.5 Total assumed Senior Notes $ 5,000.0 $ 5,061.4 The effective interest rates above exclude the effect of any related interest rate swaps. The book values above include any premiums and adjustments related to hedging instruments. For further details related to the interest rate derivative contracts, please see Note 11 , Financial Instruments , to these Unaudited Consolidated Financial Statements. Revolving Credit Facilities Agreement On December 12, 2014 , Shire entered into a $2.1 billion revolving credit facilities agreement (the “RCF”) with a number of financial institutions. As of March 31, 2017 , the Company utilized $1,030.0 million of the RCF. The RCF, which terminates on December 12, 2021 , may be used for financing the general corporate purposes of Shire. The RCF incorporates a $250.0 million U.S. dollar and Euro swingline facility operating as a sub-limit thereof. Term Loan Facilities Agreements November 2015 Facilities Agreement On November 2, 2015 , Shire entered into a $5.6 billion facilities agreement (the “November 2015 Facilities Agreement”), which is comprised of three amortizing credit facilities with the following amounts outstanding as of March 31, 2017 , and their respective maturity dates: (In millions) Amount outstanding Maturity November 2015 Facility A $ 400.0 November 2, 2017 November 2015 Facility B 1,200.0 November 2, 2017 November 2015 Facility C 2,400.0 November 2, 2018 Total November 2015 Facilities $ 4,000.0 During the first quarter of 2017, the Company made $1.0 billion of scheduled and advance repayments under the November 2015 Facility B; consequently, $4.0 billion is outstanding as of March 31, 2017 . Short-term uncommitted lines of credit (“Credit lines”) Shire has access to various Credit lines from a number of banks which are available to be utilized from time to time to provide short-term cash management flexibility. These Credit lines can be withdrawn by the banks at any time. The Credit lines are not relied upon for core liquidity. As of March 31, 2017 , these Credit lines were not utilized. Capital Lease Obligations The capital leases are primarily related to office and manufacturing facilities. As of March 31, 2017 , the total capital lease obligations, including current portions, were $351.9 million .

Retirement and Other Benefit Pr

Retirement and Other Benefit Programs	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Retirement and Other Benefit Programs	Retirement and Other Benefit Programs The Company sponsors various pension and other post-employment benefit (“OPEB”) plans in the United States and other countries. Net periodic benefit cost associated with these plans for the three months ended March 31, 2017 is presented below. Three months ended March 31, 2017 (In millions) U.S. pensions International pensions OPEB (U.S.) Net periodic benefit cost Service cost $ 3.7 $ 9.4 $ 0.3 Interest cost 3.9 1.2 0.3 Expected return on plan assets (4.0 ) (1.8 ) — Net periodic benefit cost $ 3.6 $ 8.8 $ 0.6 The majority of the Company's pension and OPEB plans were assumed with the acquisition of Baxalta on June 3, 2016 and the Company did not report net periodic benefit cost associated with these plans during the three months ended March 31, 2016 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss ("AOCL"), net of their related tax effects, for the three months ended March 31, 2017 and 2016 are included below: (In millions) Foreign currency translation adjustment Pension and other employee benefits Unrealized holding gain on available-for-sale securities Hedging activities Accumulated other comprehensive loss As of January 1, 2017 $ (1,505.4 ) $ (5.2 ) $ 6.6 $ 6.4 $ (1,497.6 ) Other comprehensive income (loss) before reclassifications 265.5 7.4 2.1 (0.3 ) 274.7 Amounts reclassified from AOCL — — — (4.2 ) (4.2 ) Net current period other comprehensive income / (loss) 265.5 7.4 2.1 (4.5 ) 270.5 As of March 31, 2017 $ (1,239.9 ) $ 2.2 $ 8.7 $ 1.9 $ (1,227.1 ) (In millions) Foreign currency translation adjustment Pension and other employee benefits Unrealized holding (loss)/gain on available-for-sale securities Hedging activities Accumulated other comprehensive loss As of January 1, 2016 $ (182.1 ) $ — $ (1.7 ) $ — $ (183.8 ) Net current period other comprehensive income (loss) 24.7 — (0.3 ) — 24.4 As of March 31, 2016 $ (157.4 ) $ — $ (2.0 ) $ — $ (159.4 ) The following is a summary of the amounts reclassified from AOCL to net income during the three months ended March 31, 2017 and 2016 : Three months ended March 31, (In millions) 2017 2016 Location of impact in Statements of Operations Gains (losses) on hedging activities Foreign exchange contracts $ 6.6 — Cost of sales 6.6 — Total before tax (2.4 ) — Tax expense $ 4.2 — Total net of tax

Taxation

Taxation	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Taxation	Taxation For the three months ended March 31, 2017 , the effective tax rate on income from continuing operations was 2% ( 2016 : 17% ). The effective tax rate for the three months ended March 31, 2017 is affected by the combined impact of the relative quantum of the profit before tax by jurisdiction for the period with significant integration costs incurred in higher tax territories. Additionally, discrete events in the first quarter of 2017, including the tax benefit from employee exercises of stock compensation, which is now required to be recorded as a discrete item in the quarter in which it occurs, contributed to the low rate. The effective tax rate for the three months ended March 31, 2016 was impacted primarily by the adverse impact of a one-time re-measurement of deferred tax as a result of the acquisition of Dyax.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table reconciles net income and loss and the weighted average ordinary shares outstanding for basic and diluted earnings per share ("EPS") for the periods presented: Three months ended (In millions) 2017 2016 Income from continuing operations, net of taxes $ 354.8 $ 409.5 Gain from discontinued operations, net of taxes 20.2 9.5 Numerator for basic and diluted earnings per share $ 375.0 $ 419.0 Weighted average number of shares: Basic 904.1 591.7 Effect of dilutive shares: Share-based awards to employees 7.7 1.6 Diluted 911.8 593.3 Weighted average number of basic shares excludes shares purchased by the Employee Benefit Trust and those under the shares buy-back program, which are both presented by Shire as treasury stock. Share-based awards to employees are calculated using the treasury method. The share equivalents not included in the calculation of the diluted weighted average number of shares are shown below: Three months ended (Number of shares in millions) 2017 2016 Share-based awards to employees 7.3 4.0 Certain stock options have been excluded from the calculation of diluted EPS for the three months ended March 31, 2017 and 2016 because either their exercise prices exceeded Shire’s average share price during the calculation period, the required performance conditions were not satisfied as of the balance sheet date or their inclusion would have been antidilutive.

Share-based Compensation Plans

Share-based Compensation Plans	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Plans	Share-based Compensation Plans Total share-based compensation recorded by the Company during the three months ended March 31, 2017 and 2016 by line item is as follows: Three months ended (In millions) 2017 2016 Cost of sales $ 6.6 $ 3.1 Research and development 10.0 11.6 Selling, general and administrative 31.3 9.2 Integration and acquisition costs 4.8 (5.6 ) Total 52.7 18.3 Less tax (13.1 ) (4.8 ) $ 39.6 $ 13.5 The table above includes pre-tax expense related to replacement and other awards held by Baxalta employees. This includes integration related expense during the three months ended March 31, 2017 from the acceleration of unrecognized expense associated with certain employee terminations. For further details on existing share-based compensation plans, refer to Note 27 , Share-based Compensation Plans , of Shire's 2016 Form 10-K. During the three months ended March 31, 2017 , the Company made equity compensation grants to employees consisting of 9.0 million stock-settled share appreciation rights (“SARs”), 1.8 million restricted stock units (“RSUs”) and 0.6 million performance share units (“PSUs”) equivalent in ordinary shares.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases The Company leases land, facilities, motor vehicles and certain equipment under operating leases expiring through 2039. For the three months ended March 31, 2017 , lease and rental expense totaled $42.6 million ( 2016 : $7.5 million ), which is predominantly included in Cost of sales and Selling, general and administrative expenses in the Company’s Unaudited Consolidated Statements of Operations. Letters of credit and guarantees As of March 31, 2017 and December 31, 2016 , the Company had irrevocable standby letters of credit and guarantees with various banks and insurance companies totaling $177.7 million and $139.7 million (being the contractual amounts), respectively, providing security for the Company’s performance of various obligations. These obligations are primarily in respect of the recoverability of insurance claims, lease obligations and supply commitments. Commitments Clinical testing As of March 31, 2017 , the Company had committed to pay approximately $1,058.8 million ( December 31, 2016 : $1,037.4 million ) to contract vendors for administering and executing clinical trials. The timing of these payments is dependent upon actual services performed by the organizations as determined by patient enrollment levels and related activities. Contract manufacturing As of March 31, 2017 , the Company had committed to pay approximately $322.2 million ( December 31, 2016 : $528.9 million ) in respect of contract manufacturing. The Company expects to pay $173.3 million of these commitments in 2017 . Other purchasing commitments As of March 31, 2017 , the Company had committed to pay approximately $1,923.8 million ( December 31, 2016 : $1,745.4 million ) for future purchases of goods and services, predominantly relating to active pharmaceutical ingredients sourcing. The Company expects to pay $1,001.9 million of these commitments in 2017 . Investment commitments As of March 31, 2017 , the Company had outstanding commitments to purchase common stock and interests in companies and partnerships, respectively, for amounts totaling $61.6 million ( December 31, 2016 : $76.4 million ) which may all be payable in 2017 , depending on the timing of capital calls. The investment commitments include additional funding to certain variable interest entities ("VIEs") for which Shire is not the primary beneficiary. Capital commitments As of March 31, 2017 , the Company had committed to spend $256.2 million ( December 31, 2016 : $100.5 million ) on capital projects. Baxter related tax indemnification Baxter International Inc. ("Baxter") and Baxalta entered into a tax matters agreement, effective on the date of Baxalta’s separation from Baxter, which employs a direct tracing approach, or where direct tracing approach is not feasible, an allocation methodology, to determine which company is liable for pre-separation income tax items for U.S. federal, state and foreign jurisdictions. With respect to tax liabilities that are directly traceable or allocated to Baxalta but for which Baxalta was not the primary obligor, Baxalta recorded a tax indemnification amount that would be due to Baxter upon Baxter discharging the associated tax liability to the taxing authority. As of March 31, 2017 , the amount of the net tax indemnification amount was $25.5 million .

Legal and Other Proceedings

Legal and Other Proceedings	3 Months Ended
	Mar. 31, 2017
Legal Proceedings [Abstract]
Legal and Other Proceedings	Legal and Other Proceedings The Company expenses legal costs when incurred. The Company recognizes loss contingency provisions for probable losses when management is able to reasonably estimate the loss. When the estimated loss lies within a range, the Company records a loss contingency provision based on its best estimate of the probable loss. If no particular amount within that range is a better estimate than any other amount, the minimum amount is recorded. Estimates of losses may be developed before the ultimate loss is known, and are therefore refined each accounting period as additional information becomes known. An outcome that deviates from the Company’s estimate may result in an additional expense or release in a future accounting period. As of March 31, 2017 , provision for litigation losses, insurance claims and other disputes totaled $70.7 million ( December 31, 2016 : $415.0 million ). The Company’s principal pending legal and other proceedings are disclosed below. The outcomes of these proceedings are not always predictable and can be affected by various factors. For those legal and other proceedings for which it is considered at least reasonably possible that a loss has been incurred, the Company discloses the possible loss or range of possible loss in excess of the recorded loss contingency provision, if any, where such excess is both material and estimable. VYVANSE In March, April and May 2016, Shire received Notices of Allegation (“NOA”) from Apotex Inc. (“Apotex”) informing Shire that Apotex filed an Abbreviated New Drug Submission (“ANDS”) with Health Canada seeking approval to market a generic version of VYVANSE in Canada. Within the requisite 45 days, Shire filed for orders of prohibition and, as a result, a 24-month stay of approval of the ANDS has been put into effect. Apotex has withdrawn the first two NOAs. On July 4, 2016, Apotex filed a Statement of Claim in Federal Court seeking a judicial declaration of invalidity and noninfringement of Shire’s Canadian patent relating to VYVANSE which Shire is actively defending. A trial is scheduled for the second quarter of 2018. LIALDA In May 2010, Shire was notified that Zydus Pharmaceuticals USA, Inc. (“Zydus”) had submitted an ANDA under the Hatch-Waxman Act seeking permission to market a generic version of LIALDA. Within the requisite 45-day period, Shire filed a lawsuit in the U.S. District Court for the District of Delaware against Zydus and Cadila Healthcare Limited, doing business as Zydus Cadila. A Markman hearing took place on January 29, 2015 and a Markman ruling was issued on July 28, 2015. A trial took place between March 28, 2016 and April 1, 2016. On September 16, 2016 the court issued its ruling finding that the proposed generic product would not infringe the asserted claims. Shire has appealed the ruling to the CAFC and oral proceedings are scheduled to begin on May 1, 2017. In February 2012, Shire was notified that Osmotica Pharmaceutical Corporation (“Osmotica”) had submitted an ANDA under the Hatch-Waxman Act seeking permission to market a generic version of LIALDA. Within the requisite 45-day period, Shire filed a lawsuit in the U.S. District Court for the Northern District of Georgia against Osmotica. A Markman hearing took place on August 22, 2013 and a Markman ruling was issued on September 25, 2014. The court issued an Order on February 27, 2015 in which all dates in the scheduling order have been stayed. In March 2012, Shire was notified that Watson Laboratories Inc.-Florida had submitted an ANDA under the Hatch-Waxman Act seeking permission to market a generic version of LIALDA. Within the requisite 45-day period, Shire filed a lawsuit in the U.S. District Court for the Southern District of Florida against Watson Laboratories Inc.-Florida and Watson Pharmaceuticals, Inc., Watson Pharma, Inc. and Watson Laboratories, Inc. (collectively, “Watson”) were subsequently added as defendants. A trial took place in April 2013 and on May 9, 2013 the trial court issued a decision finding that the proposed generic product infringes the patent-in-suit and that the patent is not invalid. Watson appealed the trial court’s ruling to the CAFC and a hearing took place on December 2, 2013. The ruling of the CAFC was issued on March 28, 2014 overruling the trial court on the interpretation of two claim terms and remanding the case for further proceedings. Shire petitioned the Supreme Court for a writ of certiorari which was granted on January 26, 2015. The Supreme Court also vacated the CAFC decision and remanded the case to the CAFC for further consideration in light of the Supreme Court’s recent decision in Teva v. Sandoz. On June 3, 2015, the CAFC reaffirmed their previous decision to reverse the District Court’s claims construction and remanded the case to the U.S. District Court for the Southern District of Florida. A trial was held on January 25-27, 2016. A ruling was issued on March 28, 2016 upholding the validity of the patent and finding that Watson’s proposed ANDA product infringes the patent-in-suit. Watson appealed the ruling to the CAFC and oral argument took place on October 5, 2016. The CAFC issued a ruling on February 10, 2017 reversing the trial court’s ruling of infringement and remanding the case to the lower court for entry of a ruling of non-infringement. In April 2012, Shire was notified that Mylan had submitted an ANDA under the Hatch-Waxman Act seeking permission to market a generic version of LIALDA. Within the requisite 45-day period, Shire filed a lawsuit in the U.S. District Court for the Middle District of Florida against Mylan. A Markman hearing took place on December 22, 2014. A Markman ruling was issued on March 23, 2015. Following a four-day bench trial in September 2016 in the U.S. District Court for the Middle District of Florida, the court handed down a ruling that Mylan’s proposed generic version of LIALDA infringes claims 1 and 3 of the Orange Book listed patent for LIALDA. In connection with this finding of infringement, the court also entered an injunction prohibiting Mylan from making, using, selling, offering for sale and/or importing their proposed ANDA product before the expiration of the patent (June 8, 2020) and requiring that the approval date for their ANDA be on or after the expiration of the patent. In March 2015, Shire was notified that Amneal had submitted an ANDA under the Hatch-Waxman Act seeking permission to market a generic version of LIALDA. Within the requisite 45 day period, Shire filed a lawsuit in the U.S. District Court for the District of New Jersey against Amneal, Amneal Pharmaceuticals of New York, LLC and Amneal Pharmaceuticals Co. India Pvt. Ltd. A Markman hearing took place on July 25, 2016. A Markman ruling was issued on August 2, 2016. No trial date has been set. In September 2015, Shire was notified that Lupin Ltd. had submitted an ANDA under the Hatch-Waxman Act seeking permission to market a generic version of LIALDA. Within the requisite 45 day period, Shire filed a lawsuit in the U.S. District Court for the District of Maryland against Lupin Ltd., Lupin Pharmaceuticals Inc., Lupin Inc. and Lupin Atlantis Holdings SA. A Markman hearing originally scheduled to take place on November 10, 2016, was cancelled and has not yet been rescheduled. No trial date has been set. VANCOCIN On April 6, 2012, ViroPharma Incorporated (“ViroPharma”) received a notification that the United States Federal Trade Commission (“FTC”) was conducting an investigation into whether ViroPharma had engaged in unfair methods of competition with respect to VANCOCIN which Shire acquired in January 2014. Following the divestiture of VANCOCIN in August 2014, Shire retained certain liabilities including any potential liabilities related to the VANCOCIN citizen petition. On August 3, 2012, and September 8, 2014, ViroPharma and Shire respectively received Civil Investigative Demands from the FTC requesting additional information related to this matter. Shire fully cooperated with the FTC’s investigation. On February 7, 2017, the FTC filed a Complaint against Shire alleging that ViroPharma engaged in conduct in violation of U.S. antitrust laws arising from a citizen petition ViroPharma filed in 2006 related to Food & Drug Administration’s policy for evaluating bioequivalence for generic versions of VANCOCIN. The complaint seeks equitable relief, including an injunction and disgorgement. The Company filed a motion to dismiss on April 10, 2017. At this time, Shire is unable to predict the outcome or duration of this case. ELAPRASE On September 24, 2014 Shire’s Brazilian affiliate, Shire Farmaceutica Brasil Ltda, was served with a lawsuit brought by the State of Sao Paulo and in which the Brazilian Public Attorney’s office has intervened alleging that Shire is obligated to provide certain medical care including ELAPRASE for an indefinite period at no cost to patients who participated in ELAPRASE clinical trials in Brazil, and seeking recoupment to the Brazilian government for amounts paid on behalf of these patients to date, and moral damages associated with these claims. On May 6, 2016, the trial court judge ruled on the case and dismissed all the claims under the class action, which was appealed. On February 20, 2017, the Court of Appeals in Sao Paulo issued the final decision on merit in favor of Shire and dismissed all the claims under the class action. The final decision can be appealed through the Superior Court of Justice or through the Supreme Court; however, the likelihood of one of those courts accepting the appeal is remote.

Agreements and Transactions

Agreements and Transactions	3 Months Ended
	Mar. 31, 2017
Agreements and Transactions [Abstract]
Agreements and Transactions with Baxter	Agreements and Transactions with Baxter In connection with Baxalta’s separation from Baxter on July 1, 2015, Baxalta and Baxter entered into several separation-related agreements that provided a framework for Baxalta’s relationship with Baxter after the separation. These agreements, among others, included a manufacturing and supply agreement, a transition services agreement and a tax matters agreement. For further details on existing agreements with Baxter, refer to Note 28 , Agreements and Transactions with Baxter , of Shire's 2016 Form 10-K. During the three months ended March 31, 2017 , the Company reported revenues associated with the manufacturing and supply agreement with Baxter of approximately $40.3 million and Selling, general and administrative expenses associated with the transition services agreement with Baxter of approximately $18.9 million . Net tax-related indemnification liabilities as of March 31, 2017 associated with the tax matters agreement with Baxter are discussed in Note 18 , Commitments and Contingencies , of these Unaudited Consolidated Financial Statements. As of March 31, 2017 , the Company had total amounts due from or to Baxter of $142.9 million reported in Prepaid expenses and other current assets, $33.6 million reported in Other non-current assets, $65.4 million reported in Other current liabilities and $78.0 million reported in Other non-current liabilities.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Shire operates as one operating and reportable segment engaged in the research, development, licensing, manufacturing, marketing, distribution and sale of innovative specialist medicines to meet significant unmet patient needs. For a more detailed description of segment disclosures about products, geographic areas and major customers, refer to Note 22 , Segment Reporting , of Shire's 2016 Form 10-K. In the periods set out below, revenues by major product were as follows: Three months ended (In millions) 2017 2016 Product sales: HEMOPHILIA $ 650.4 $ — INHIBITOR THERAPIES 220.5 — Hematology total 870.9 — CINRYZE 225.9 164.2 ELAPRASE 140.6 123.6 FIRAZYR 128.5 128.3 REPLAGAL 109.7 103.2 VPRIV 79.8 83.6 KALBITOR 11.7 10.4 Genetic Diseases total 696.2 613.3 IMMUNOGLOBULIN THERAPIES 498.3 — BIO THERAPEUTICS 177.9 — Immunology total 676.2 — VYVANSE 563.7 509.2 ADDERALL XR 64.9 98.8 Other Neuroscience 24.7 22.1 Neuroscience total 653.3 630.1 LIALDA/MEZAVANT 175.1 168.0 PENTASA 69.1 64.0 GATTEX/REVESTIVE 69.0 51.7 NATPARA 29.7 15.6 Other Internal Medicine 75.9 84.6 Internal Medicine total 418.8 383.9 Oncology total 58.3 — Opthalmology total 38.6 — Total Product sales 3,412.3 1,627.3 Royalties and other revenues: SENSIPAR Royalties 38.9 37.9 3TC and ZEFFIX Royalties 14.5 15.0 ADDERALL XR Royalties 12.5 5.8 FOSRENOL Royalties 8.6 9.2 Other Royalties and Revenues 85.5 14.1 Total Royalties and other revenues 160.0 82.0 Total Revenues $ 3,572.3 $ 1,709.3

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On May 1, 2017, Shire announced it agreed to license the exclusive worldwide rights to P-321 from Parion Sciences ("Parion"). P-321 is a Phase 2 investigational epithelial sodium channel inhibitor for the potential treatment of dry eye disease in adults. Shire will develop, and if approved, commercialize this compound. Shire will make an initial $20.0 million upfront license payment. Parion will be entitled to receive additional potential milestone payments and has the option to co-fund through additional stages of development in exchange for enhanced tiered double-digit royalties. In addition, Parion has the option to co-fund commercialization activities and participate in the financial outcome from those activities.

Guarantor Financial Information

Guarantor Financial Information	3 Months Ended
	Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Guarantor Financial Information	Guarantor Financial Information On June 3, 2016, Shire plc provided full and unconditional, joint and several guarantees of the floating rate senior notes due 2018, 2.0% senior notes due 2018, 2.875% senior notes due 2020, 3.6% senior notes due 2022, 4.0% senior notes due 2025, and 5.25% senior notes due 2045 (collectively, “Baxalta Notes”), of Baxalta Inc., a 100% owned subsidiary of the Company. Amounts related to Baxalta Inc. and its subsidiaries are included in the condensed consolidating financial information for periods subsequent to June 3, 2016, the date of the Baxalta Inc.'s acquisition. On September 23, 2016, Shire plc provided full and unconditional, joint and several guarantees of the 1.90% senior notes due 2019, 2.40% senior notes due 2021, 2.875% senior notes due 2023 and 3.20% senior notes due 2026, of SAIIDAC (collectively "SAIIDAC Notes"), a 100% owned subsidiary of the Company. On December 1, 2016, Baxalta Inc., a wholly-owned subsidiary of Shire plc, became a guarantor to the SAIIDAC Notes. Accordingly, both Baxalta Inc. and Shire plc are now co-guarantors of the SAIIDAC Notes. In accordance with the requirements of SEC Regulation S-X Rule 3-10 “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered”, the following tables present unaudited condensed consolidating financial statements of the two separate guarantee structures of the Baxalta Notes and SAIIDAC Notes, for: • Shire plc - Parent Guarantor; • SAIIDAC Subsidiary Issuer - issuer subsidiary of the SAIIDAC Notes; (a) • Baxalta Inc. - issuer subsidiary of the Baxalta Notes and guarantor subsidiary of the SAIIDAC Notes; (b) • Non-Guarantor Non-Issuer Subsidiaries - presents all other subsidiaries of the Parent Guarantor on a combined basis, none of which guarantee the Baxalta Notes or SAIIDAC Notes; (c) • Non-Guarantor Subsidiaries of Baxalta Notes - presents combined Non-Guarantor Non-Issuer Subsidiaries, including SAIIDAC, under the guarantee structure where Baxalta Inc. is the subsidiary issuer (a+c); and • Eliminations - primarily relate to eliminations of investments in subsidiaries and intercompany balances and transactions. The Unaudited Condensed Consolidating Financial Statements present investments in subsidiaries using the equity method of accounting. Condensed Consolidating Balance Sheet As of March 31, 2017 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ 0.3 $ 368.7 $ 368.7 $ — $ 369.0 Restricted cash — — — 34.1 34.1 — 34.1 Accounts receivable, net — — — 2,579.5 2,579.5 — 2,579.5 Inventories — — — 3,345.8 3,345.8 — 3,345.8 Prepaid expenses and other current assets 1.4 — 91.0 694.8 694.8 — 787.2 Intercompany receivables — 47.5 95.9 5,172.5 5,220.0 (5,315.9 ) — Short term intercompany loan receivable — 1,995.1 — — 1,995.1 (1,995.1 ) — Total current assets 1.4 2,042.6 187.2 12,195.4 14,238.0 (7,311.0 ) 7,115.6 Investments 36,484.0 — 34,799.8 12,607.6 12,607.6 (83,665.2 ) 226.2 Property, plant and equipment, net — — 28.6 6,467.5 6,467.5 — 6,496.1 Goodwill — — — 19,149.1 19,149.1 — 19,149.1 Intangible assets, net — — — 32,834.1 32,834.1 — 32,834.1 Deferred tax asset — — 271.5 125.5 125.5 (271.5 ) 125.5 Long term intercompany loan receivable — 14,036.2 411.4 — 14,036.2 (14,447.6 ) — Other non-current assets 3.9 — 33.6 176.0 176.0 — 213.5 Total assets $ 36,489.3 $ 16,078.8 $ 35,732.1 $ 83,555.2 $ 99,634.0 $ (105,695.3 ) $ 66,160.1 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses $ 1.6 $ 7.3 $ 61.1 $ 3,481.3 $ 3,488.6 $ — $ 3,551.3 Short term borrowings and capital leases 1,030.0 1,995.1 — 24.4 2,019.5 — 3,049.5 Intercompany payables 5,315.9 — — — — (5,315.9 ) — Short term intercompany loan payable — — — 1,995.1 1,995.1 (1,995.1 ) — Other current liabilities — — 75.0 334.6 334.6 — 409.6 Total current liabilities 6,347.5 2,002.4 136.1 5,835.4 7,837.8 (7,311.0 ) 7,010.4 Long term borrowings and capital leases — 14,036.2 5,061.4 398.3 14,434.5 — 19,495.9 Deferred tax liability — — — 8,024.1 8,024.1 (271.5 ) 7,752.6 Long term intercompany loan payable — — — 14,447.6 14,447.6 (14,447.6 ) — Other non-current liabilities 409.9 — 63.6 1,695.8 1,695.8 — 2,169.3 Total liabilities 6,757.4 16,038.6 5,261.1 30,401.2 46,439.8 (22,030.1 ) 36,428.2 Total equity 29,731.9 40.2 30,471.0 53,154.0 53,194.2 (83,665.2 ) 29,731.9 Total liabilities and equity $ 36,489.3 $ 16,078.8 $ 35,732.1 $ 83,555.2 $ 99,634.0 $ (105,695.3 ) $ 66,160.1 Condensed Consolidating Balance Sheet As of December 31, 2016 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ 41.7 $ 487.1 $ 487.1 $ — $ 528.8 Restricted cash — — — 25.6 25.6 — 25.6 Accounts receivable, net — — — 2,616.5 2,616.5 — 2,616.5 Inventories — — — 3,562.3 3,562.3 — 3,562.3 Prepaid expenses and other current assets 1.8 — 97.1 707.4 707.4 — 806.3 Intercompany receivables — 120.5 — 5,154.4 5,274.9 (5,274.9 ) — Short term intercompany loan receivable — 2,594.8 — — 2,594.8 (2,594.8 ) — Total current assets 1.8 2,715.3 138.8 12,553.3 15,268.6 (7,869.7 ) 7,539.5 Investments 35,656.1 — 34,644.2 12,571.8 12,571.8 (82,680.5 ) 191.6 Property, plant and equipment, net — — 27.4 6,442.2 6,442.2 — 6,469.6 Goodwill — — — 17,888.2 17,888.2 — 17,888.2 Intangible assets, net — — — 34,697.5 34,697.5 — 34,697.5 Deferred tax asset — — 273.0 96.7 96.7 (273.0 ) 96.7 Long term intercompany loan receivable — 14,431.0 480.7 — 14,431.0 (14,911.7 ) — Other non-current assets 3.9 — 33.8 114.6 114.6 — 152.3 Total assets $ 35,661.8 $ 17,146.3 $ 35,597.9 $ 84,364.3 $ 101,510.6 $ (105,734.9 ) $ 67,035.4 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses $ 1.3 $ 85.7 $ 20.0 $ 4,205.4 $ 4,291.1 $ — $ 4,312.4 Short term borrowings and capital leases 450.0 2,594.8 — 23.2 2,618.0 — 3,068.0 Intercompany payables 5,247.1 — 27.8 — — (5,274.9 ) — Short term intercompany loans payable — — — 2,594.8 2,594.8 (2,594.8 ) — Other current liabilities — — 64.6 298.3 298.3 — 362.9 Total current liabilities 5,698.4 2,680.5 112.4 7,121.7 9,802.2 (7,869.7 ) 7,743.3 Long term borrowings and capital leases — 14,431.0 5,063.7 405.1 14,836.1 — 19,899.8 Deferred tax liability — — — 8,595.7 8,595.7 (273.0 ) 8,322.7 Long term intercompany loans payable 610.1 — — 14,301.6 14,301.6 (14,911.7 ) — Other non-current liabilities 405.3 — 61.7 1,654.6 1,654.6 — 2,121.6 Total liabilities 6,713.8 17,111.5 5,237.8 32,078.7 49,190.2 (23,054.4 ) 38,087.4 Total equity 28,948.0 34.8 30,360.1 52,285.6 52,320.4 (82,680.5 ) 28,948.0 Total liabilities and equity $ 35,661.8 $ 17,146.3 $ 35,597.9 $ 84,364.3 $ 101,510.6 $ (105,734.9 ) $ 67,035.4 Condensed Consolidating Statements of Operations For the three months ended March 31, 2017 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) Revenues: Product sales $ — $ — $ — $ 3,412.3 $ 3,412.3 $ — $ 3,412.3 Royalties and other revenues — — — 160.0 160.0 — 160.0 Total revenues — — — 3,572.3 3,572.3 — 3,572.3 Costs and expenses: Cost of sales — — 1.2 1,325.8 1,325.8 — 1,327.0 Research and development — — — 379.3 379.3 — 379.3 Selling, general and administrative 14.0 — 5.7 869.2 869.2 — 888.9 Amortization of acquired intangible assets — — — 364.0 364.0 — 364.0 Integration and acquisition costs — — 25.6 90.4 90.4 — 116.0 Reorganization costs — — — 5.5 5.5 — 5.5 Gain on sale of product rights — — — (5.5 ) (5.5 ) — (5.5 ) Total operating expenses 14.0 — 32.5 3,028.7 3,028.7 — 3,075.2 Operating (loss) / income from continuing operations (14.0 ) — (32.5 ) 543.6 543.6 — 497.1 Interest (expense) / income, net (30.3 ) 5.4 (21.4 ) (92.9 ) (87.5 ) — (139.2 ) Other income, net — — 0.5 4.0 4.0 — 4.5 Total other (expense) / income, net (30.3 ) 5.4 (20.9 ) (88.9 ) (83.5 ) — (134.7 ) (Loss) / income from continuing operations before income taxes and equity in income / (losses) of equity method investees (44.3 ) 5.4 (53.4 ) 454.7 460.1 — 362.4 Income taxes 1.5 (1.3 ) (19.9 ) 12.9 11.6 — (6.8 ) Equity in income / (losses) of equity method investees, net of taxes 417.8 — (126.8 ) (0.8 ) (0.8 ) (291.0 ) (0.8 ) Income / (loss) from continuing operations, net of taxes 375.0 4.1 (200.1 ) 466.8 470.9 (291.0 ) 354.8 Gain from discontinued operations, net of taxes — — — 20.2 20.2 — 20.2 Net income / (loss) 375.0 4.1 (200.1 ) 487.0 491.1 (291.0 ) 375.0 Comprehensive income / (loss) $ 645.5 $ 4.1 $ 48.7 $ 754.0 $ 758.1 $ (806.8 ) $ 645.5 Condensed Consolidating Statements of Operations For the three months ended March 31, 2016 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) Revenues: Product sales $ — $ — $ — $ 1,627.3 $ 1,627.3 $ — $ 1,627.3 Royalties and other revenues — — — 82.0 82.0 — 82.0 Total revenues — — — 1,709.3 1,709.3 — 1,709.3 Costs and expenses: Cost of sales — — — 248.6 248.6 — 248.6 Research and development — — — 217.1 217.1 — 217.1 Selling, general and administrative 17.0 — — 457.9 457.9 — 474.9 Amortization of acquired intangible assets — — — 134.6 134.6 — 134.6 Integration and acquisition costs — — 91.1 91.1 — 91.1 Reorganization costs — — — 3.3 3.3 — 3.3 Gain on sale of product rights — — — (4.2 ) (4.2 ) — (4.2 ) Total operating expenses 17.0 — — 1,148.4 1,148.4 — 1,165.4 Operating (loss) / income from continuing operations (17.0 ) — — 560.9 560.9 — 543.9 Interest (expense) / income, net (21.9 ) (21.8 ) — — (21.8 ) — (43.7 ) Other income, net (0.3 ) — — (8.2 ) (8.2 ) — (8.5 ) Total other (expense) / income, net (22.2 ) (21.8 ) — (8.2 ) (30.0 ) — (52.2 ) (Loss) / income from continuing operations before income taxes and equity in income / (losses) of equity method investees (39.2 ) (21.8 ) — 552.7 530.9 — 491.7 Income taxes 1.0 5.5 — (88.6 ) (83.1 ) — (82.1 ) Equity in income / (losses) of equity method investees, net of taxes 457.2 — — (0.1 ) (0.1 ) (457.2 ) (0.1 ) Income / (loss) from continuing operations, net of taxes 419.0 (16.3 ) — 464.0 447.7 (457.2 ) 409.5 Gain from discontinued operations, net of taxes — — — 9.5 9.5 — 9.5 Net income / (loss) 419.0 (16.3 ) — 473.5 457.2 (457.2 ) 419.0 Comprehensive income / (loss) $ 443.4 $ (16.3 ) $ — $ 497.9 $ 481.6 $ (481.6 ) $ 443.4 Condensed Consolidating Statement of Cash Flows For the three months ended March 31, 2017 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided (used in) operating activities $ (9.6 ) $ (84.1 ) $ (0.3 ) $ 553.1 $ 469.0 $ — $ 459.1 CASH FLOWS FROM INVESTING ACTIVITIES: Transactions with subsidiaries (760.6 ) — (110.5 ) (733.2 ) (733.2 ) 1,604.3 — Movements in restricted cash — — — (8.5 ) (8.5 ) — (8.5 ) Purchases of PP&E and non-current investments — — (2.4 ) (210.1 ) (210.1 ) — (212.5 ) Other, net 0.3 — 2.0 (1.1 ) (1.1 ) — 1.2 Net cash provided by (used in) investing activities (760.3 ) — (110.9 ) (952.9 ) (952.9 ) 1,604.3 (219.8 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit, long term and short term borrowings 1,400.0 — — 1.9 1.9 — 1,401.9 Repayment of revolving line of credit, long term and short term borrowings (820.0 ) (1,000.0 ) — (5.7 ) (1,005.7 ) — (1,825.7 ) Proceeds from intercompany borrowings 189.8 1,084.1 69.3 261.1 1,345.2 (1,604.3 ) — Proceeds from exercise of options 0.1 — 1.7 20.3 20.3 — 22.1 Other, net — — (1.2 ) 1.1 1.1 — (0.1 ) Net cash provided by (used in) financing activities 769.9 84.1 69.8 278.7 362.8 (1,604.3 ) (401.8 ) Effect of foreign exchange rate changes on cash and cash equivalents — — — 2.7 2.7 — 2.7 Net increase in cash and cash equivalents — — (41.4 ) (118.4 ) (118.4 ) — (159.8 ) Cash and cash equivalents at beginning of period — — 41.7 487.1 487.1 — 528.8 Cash and cash equivalents at end of period $ — $ — $ 0.3 $ 368.7 $ 368.7 $ — $ 369.0 Condensed Consolidating Statement of Cash Flows For the three months ended March 31, 2016 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided (used in) operating activities $ (45.9 ) $ (11.5 ) $ — $ 446.9 $ 435.4 $ — $ 389.5 CASH FLOWS FROM INVESTING ACTIVITIES: Transactions with subsidiaries (1,900.0 ) (5,494.7 ) — (2,235.9 ) (7,730.6 ) 9,630.6 — Movements in restricted cash — — — 64.8 64.8 — 64.8 Purchases of subsidiary undertakings and businesses, net of cash acquired — — — (5,692.8 ) (5,692.8 ) — (5,692.8 ) Purchases of PP&E and non-current investments — — — (51.6 ) (51.6 ) — (51.6 ) Other, net — — — 5.5 5.5 — 5.5 Net cash provided by (used in) investing activities (1,900.0 ) (5,494.7 ) — (7,910.0 ) (13,404.7 ) 9,630.6 (5,674.1 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit, long term and short term borrowings 705.0 5,600.0 — — 5,600.0 — 6,305.0 Repayment of revolving line of credit, long term and short term borrowings (995.0 ) — — (0.1 ) (0.1 ) — (995.1 ) Proceeds from intercompany borrowings 2,235.9 — — 7,394.7 7,394.7 (9,630.6 ) — Debt issuance costs — (93.8 ) — — (93.8 ) — (93.8 ) Proceeds from exercise of options — — — 0.1 0.1 — 0.1 Other, net — — — 0.9 0.9 — 0.9 Net cash provided by (used in) financing activities 1,945.9 5,506.2 — 7,395.6 12,901.8 (9,630.6 ) 5,217.1 Effect of foreign exchange rate changes on cash and cash equivalents — — — 1.0 1.0 — 1.0 Net decrease in cash and cash equivalents — — — (66.5 ) (66.5 ) — (66.5 ) Cash and cash equivalents at beginning of period — — — 135.5 135.5 — 135.5 Cash and cash equivalents at end of period $ — $ — $ — $ 69.0 $ 69.0 $ — $ 69.0

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These interim financial statements of Shire plc and its subsidiaries (collectively “Shire” or the “Company”) are unaudited. They have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Consolidated Balance Sheet as of December 31, 2016 was derived from the audited Consolidated Financial Statements as of that date. These interim Unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 , as filed with the SEC on February 22, 2017. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. However, these interim financial statements include all adjustments, consisting of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period and the Company believes that the disclosures are adequate to make the information presented not misleading. Interim results are not necessarily indicative of results to be expected for the full year. On June 3, 2016, the Company completed its acquisition of Baxalta for $32.4 billion , representing the preliminary fair value of purchase consideration. The Company’s Unaudited Consolidated Financial Statements include the results of Baxalta from the date of acquisition. For further details regarding the acquisition, refer to Note 2 , Business Combinations , of these Unaudited Consolidated Financial Statements. During the second quarter of 2016, due to the Baxalta acquisition, the Company concluded that it was appropriate to reclassify the Amortization of acquired intangibles from Selling, general and administrative on the Unaudited Consolidated Statements of Operations. Accordingly, the Company reclassified the Amortization of acquired intangibles from Selling, general and administrative in the comparative period to conform to the current classification.
Use of Estimates	Use of Estimates The preparation of Financial Statements, in conformity with U.S. GAAP and SEC regulations, requires management to make estimates, judgments and assumptions that affect the reported and disclosed amounts of assets, liabilities and equity at the date of the Unaudited Consolidated Financial Statements and reported amounts of revenues and expenses during the period. On an on-going basis, the Company evaluates its estimates, judgments and methodologies. Estimates are based on historical experience, current conditions and on various other assumptions that are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amounts of revenues and expenses. Actual results may differ from these estimates under different assumptions or conditions.
New Accounting Pronouncements	New Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed below, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company’s financial position or results of operations upon adoption. Adopted during the current period Inventory In July 2015, the FASB issued new guidance which requires an entity to measure inventory at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this standard as of January 1, 2017, which did not impact the Company's financial position or results of operations. Share-Based Payment Accounting In March 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The new standard requires recognition of the income tax effects of vested or settled awards in the income statement and involves several other aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows and allows a one-time accounting policy election to account for forfeitures as they occur. The new standard is effective starting January 1, 2017. The Company adopted ASU 2016-09 in the first quarter of 2017. Before adoption, excess tax benefits or deficiencies from the Company's equity awards were recorded as Additional paid-in capital in its Consolidated Balance Sheets. Upon adoption, the Company recorded any excess tax benefits or deficiencies from its equity awards in its Consolidated Statements of Operations in the reporting periods in which vesting or settlement occurs. Amendments related to accounting for excess tax benefits have been adopted prospectively, resulting in recognition of excess tax benefits against Income taxes rather than Additional paid-in capital of $11.5 million for the three months ended March 31, 2017. As a result of the adoption, the Company recorded an adjustment to Retained earnings of $39.0 million to recognize net operating loss carryforwards attributable to excess tax benefits on stock compensation that had not been previously recognized to Additional paid-in capital. Excess tax benefits for share-based payments are now included in Net cash provided by operating activities rather than Net cash provided by financing activities. The changes have been applied prospectively in accordance with the ASU and prior periods have not been adjusted. Upon adoption of ASU 2016-09, the Company elected to account for forfeitures in relation to service conditions as they occur. The change was applied on a modified retrospective basis with a cumulative effect adjustment to Retained earnings of $10.7 million as of January 1, 2017. Definition of a Business In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. This new standard clarifies the definition of a business and provides guidance to determine when an integrated set of assets and activities is not a business. The Company adopted this standard prospectively on January 1, 2017. To be adopted in future periods Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test of Goodwill Impairment. This new standard simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. This standard will be effective for the Company as of January 1, 2020, with early adoption permitted for annual goodwill impairment tests performed after January 1, 2017. The Company does not expect the adoption of this standard to have a material impact on its financial position and results of operations. Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes all existing revenue recognition requirements, including most industry-specific guidance. The new standard requires a company to recognize revenue when it transfers goods or services to customers in an amount that reflects the consideration that the company expects to receive for those goods or services. The new standard also requires additional qualitative and quantitative disclosures. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delayed the effective date of the new standard from January 1, 2017 to January 1, 2018. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. The FASB has subsequently issued five additional ASUs amending the guidance in Topic 606, each with the same effective date and transition date of January 1, 2018. This amended guidance has been considered in the Company’s overall assessment of the new standard. Shire will adopt this standard on the effective date of January 1, 2018. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance. The Company has identified two primary revenue streams from contracts with customers as part of its initial assessment: 1) product sales and 2) licensing arrangements. Shire is in the process of evaluating these contracts and is not yet able to estimate the anticipated impact to the Company’s financial statements from the application of the new standard. Financial Instrument Accounting In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The new standard amends certain aspects of accounting and disclosure requirements of financial instruments, including the requirement that equity investments with readily determinable fair values be measured at fair value with changes in fair value recognized in the results of operations. This standard will be effective for the Company as of January 1, 2018. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The new accounting guidance will require the recognition of all lease assets and lease liabilities by lessees and sets forth new disclosure requirements for those lease assets and liabilities. The standard requires lessees to recognize right-of-use assets and lease liabilities on the balance sheet using a modified retrospective approach at the beginning of the earliest comparative period in the financial statements. This standard will be effective for the Company as of January 1, 2019. Early adoption is permitted. The Company is currently evaluating the potential impact on its financial position and results of operations of adopting this guidance. Statement of Cash Flows In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The new standard clarifies certain aspects of the statement of cash flows, and aims to reduce diversity in practice regarding how certain transactions are classified in the statement of cash flows. This standard will be effective for the Company as of January 1, 2018. Early adoption is permitted. The adoption of this guidance is not expected to have a significant impact on the Company's Consolidated Statement of Cash Flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The new guidance is intended to reduce diversity in the presentation of restricted cash and restricted cash equivalents in the statement. The guidance requires that restricted cash and restricted cash equivalents be included as components of total cash and cash equivalents as presented on the statement of cash flows. This standard will be effective for the Company as of January 1, 2018. The adoption of this guidance is not expected to have a significant impact on the Company's Consolidated Statements of Cash Flows. Income Taxes In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers Other than Inventory. This standard removes the current exception in U.S. GAAP prohibiting entities from recognizing current and deferred income tax expenses or benefits related to transfer of assets, other than inventory, within the consolidated entity. The current exception to defer the recognition of any tax impact on the transfer of inventory within the consolidated entity until it is sold to a third party remains unaffected. This standard will be effective for the Company as of January 1, 2018, with the early adoption permitted. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance. Retirement Benefits Income Statement Presentation In March 2017, the FASB issued ASU 2017-07 Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The standard amends the income statement presentation of the components of net periodic benefit cost for defined benefit pension and other postretirement plans. The standard requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present it with other current compensation costs for related employees in the income statement and (2) present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented. The standard also requires entities to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. This standard will be effective for the Company as of January 1, 2018. The Company does not expect the adoption of this standard to have a material impact on its financial position and results of operations.

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2017
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation	The preliminary fair value of the purchase price consideration consisted of the following: (In millions) Estimated fair value Cash paid to shareholders $ 12,366.7 Fair value of stock issued to shareholders 19,353.2 Fair value of partially vested stock options and RSUs assumed 508.8 Contingent consideration payable 165.0 Total Purchase Consideration $ 32,393.7
Baxalta
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation	The Company's preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the acquisition date, including measurement period adjustments, is outlined below. (In millions) Preliminary value as of acquisition date (as previously reported as of December 31, 2016) Measurement period adjustments Preliminary values as of March 31, 2017 ASSETS Current assets: Cash and cash equivalents $ 583.2 $ — $ 583.2 Accounts receivable 1,069.7 (95.0 ) 974.7 Inventories 3,893.4 97.8 3,991.2 Other current assets 576.0 — 576.0 Total current assets 6,122.3 2.8 6,125.1 Property, plant and equipment 5,452.7 (38.0 ) 5,414.7 Investments 128.2 — 128.2 Goodwill 11,422.4 1,213.8 12,636.2 Intangible assets Currently marketed products 21,995.0 (1,105.0 ) 20,890.0 In-Process Research and Development ("IPR&D") 730.0 (580.0 ) 150.0 Contract based arrangements 42.2 — 42.2 Other non-current assets 155.0 62.4 217.4 Total assets $ 46,047.8 $ (444.0 ) $ 45,603.8 LIABILITIES Current liabilities: Accounts payable and accrued expenses $ 1,321.9 $ (15.5 ) $ 1,306.4 Other current liabilities 354.4 7.5 361.9 Long-term borrowings 5,424.9 — 5,424.9 Deferred tax liability 5,445.3 (432.0 ) 5,013.3 Other non-current liabilities 1,103.6 — 1,103.6 Total liabilities $ 13,650.1 $ (440.0 ) $ 13,210.1 Preliminary fair value of identifiable assets acquired and liabilities assumed $ 32,397.7 $ (4.0 ) $ 32,393.7 Consideration Preliminary fair value of purchase consideration $ 32,397.7 $ (4.0 ) $ 32,393.7
Business Acquisition, Pro Forma Information	The following unaudited pro forma financial information presents the combined results of the operations of Shire and Baxalta as if the acquisition of Baxalta had occurred as of January 1, 2015. The unaudited pro forma financial information is not necessarily indicative of what the consolidated results of operations actually would have been had the respective acquisitions been completed on January 1, 2015. In addition, the unaudited pro forma financial information does not purport to project the future results of operations of the combined Company. Three months ended March 31, (In millions, except per share amounts) 2016 Revenues $ 3,257.3 Net (loss)/income from continuing operations 305.1 Per share amounts: Net (loss)/income from continuing operations per share - basic $ 0.52 Net (loss)/income from continuing operations per share - diluted $ 0.51
Dyax
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation	The allocation of the total purchase price is outlined below. (In millions) Fair value ASSETS Current assets: Cash and cash equivalents $ 241.2 Accounts receivable 22.5 Inventories 20.2 Other current assets 8.1 Total current assets 292.0 Property, plant and equipment 5.8 Goodwill 2,702.1 Intangible assets Currently marketed projects 135.0 IPR&D 4,100.0 Contract based royalty arrangements 425.0 Other non-current assets 28.6 Total assets $ 7,688.5 LIABILITIES Current liabilities: Accounts payable and accrued expenses $ 30.0 Other current liabilities 1.7 Deferred tax liability 1,325.4 Other non-current liabilities 1.4 Total liabilities 1,358.5 Fair value of identifiable assets acquired and liabilities assumed $ 6,330.0 Consideration Fair value of purchase consideration $ 6,330.0
Business Acquisition, Pro Forma Information	The following unaudited pro forma financial information presents the combined results of the operations of Shire and Dyax as if the acquisitions of Dyax had occurred as of January 1, 2015. The unaudited pro forma financial information is not necessarily indicative of what the consolidated results of operations actually would have been had the respective acquisitions been completed at the date indicated. In addition, the unaudited pro forma financial information does not purport to project the future results of operations of the combined Company. Three months ended March 31, (In millions, except per share amounts) 2016 Revenues $ 1,715.2 Net income from continuing operations 401.6 Per share amounts: Net income from continuing operations per share - basic $ 0.68 Net income from continuing operations per share - diluted $ 0.68

Integration and Acquisition C34

Integration and Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Summary of Employee Termination Related Reserve and Other	The following table summarizes the type and amount of integration costs recorded as of March 31, 2017 : (In millions) Severance and employee benefits Lease terminations Total As of January 1, $ 74.0 $ — $ 74.0 Amount charged to integration costs 23.2 24.5 47.7 Paid/utilized (30.9 ) (2.4 ) (33.3 ) As of March 31, $ 66.3 $ 22.1 $ 88.4

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Reserve for discounts and doubtful accounts	for discounts and doubtful accounts: (In millions) 2017 2016 As of January 1, $ 169.6 $ 55.8 Provision charged to operations 295.2 149.4 Payments/credits (304.5 ) (123.3 ) As of March 31, $ 160.3 $ 81.9

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories comprise: (In millions) March 31, 2017 December 31, 2016 Finished goods $ 1,093.0 $ 1,380.0 Work-in-progress 1,541.7 1,491.0 Raw materials 711.1 691.3 $ 3,345.8 $ 3,562.3

Property, Plant and Equipment37

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment are recorded at historical cost, net of accumulated depreciation. Components of Property, plant and equipment, net are summarized as follows: (In millions) March 31, 2017 December 31, 2016 Land $ 339.2 $ 337.9 Buildings and leasehold improvements 1,943.0 1,915.4 Machinery, equipment and other 2,642.6 2,547.2 Assets under construction 2,642.8 2,632.5 Total property, plant and equipment at cost 7,567.6 7,433.0 Less: Accumulated depreciation (1,071.5 ) (963.4 ) Property, plant and equipment, net $ 6,496.1 $ 6,469.6

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Other Intangible Assets	The following table summarizes the Company's intangible assets: (In millions) Currently marketed products IPR&D Other intangible assets Total March 31, 2017 Gross acquired intangible assets $ 30,337.5 $ 5,127.2 $ 842.2 $ 36,306.9 Accumulated amortization (3,242.8 ) — (230.0 ) (3,472.8 ) Intangible assets, net $ 27,094.7 $ 5,127.2 $ 612.2 $ 32,834.1 December 31, 2016 Gross acquired intangible assets $ 31,217.5 $ 5,746.6 $ 842.2 $ 37,806.3 Accumulated amortization (2,908.6 ) — (200.2 ) (3,108.8 ) Intangible assets, net $ 28,308.9 $ 5,746.6 $ 642.0 $ 34,697.5
Intangible Assets (Excluding Goodwill) Roll Forward	The change in the net book value of intangible assets for the three months ended March 31, 2017 and 2016 is shown in the table below: (In millions) 2017 2016 As of January 1, $ 34,697.5 $ 9,173.3 Acquisitions (1,685.0 ) 4,660.9 Amortization charged (364.0 ) (134.6 ) Foreign currency translation 185.6 16.0 As of March 31, $ 32,834.1 $ 13,715.6

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table provides a roll-forward of the goodwill balance: (In millions) 2017 2016 As of January 1, $ 17,888.2 $ 4,147.8 Acquisitions 1,213.8 2,729.5 Foreign currency translation 47.1 4.6 As of March 31, $ 19,149.1 $ 6,881.9

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	As of March 31, 2017 and December 31, 2016 , the following financial assets and liabilities are measured at fair value on a recurring basis using quoted prices in active markets for identical assets (Level 1); significant other observable inputs (Level 2); and significant unobservable inputs (Level 3). Fair value (In millions) Total Level 1 Level 2 Level 3 As of March 31, 2017 Financial assets: Marketable equity securities $ 70.8 $ 70.8 $ — $ — Marketable debt securities 15.5 3.5 12.0 — Contingent consideration receivable 16.5 — — 16.5 Derivative instruments 9.9 — 9.9 — Total assets $ 112.7 $ 74.3 $ 21.9 $ 16.5 Financial liabilities: Joint venture net written option $ 25.0 $ — $ — $ 25.0 Derivative instruments 9.9 — 9.9 — Contingent consideration payable 1,051.2 — — 1,051.2 Total liabilities $ 1,086.1 $ — $ 9.9 $ 1,076.2 (In millions) Total Level 1 Level 2 Level 3 As of December 31, 2016 Financial assets: Marketable equity securities $ 65.8 $ 65.8 $ — $ — Marketable debt securities 15.5 3.6 11.9 — Contingent consideration receivable 15.6 — — 15.6 Derivative contracts 18.0 — 18.0 — Total assets $ 114.9 $ 69.4 $ 29.9 $ 15.6 Financial liabilities: Derivative contracts $ 8.3 $ — $ 8.3 $ — Contingent consideration payable 1,058.0 — — 1,058.0 Total liabilities $ 1,066.3 $ — $ 8.3 $ 1,058.0
Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)	The following table provides a roll forward of the fair values of the Company's contingent consideration receivable and payables which include Level 3 measurements: Contingent consideration receivable (In millions) 2017 2016 Balance as of January 1, $ 15.6 $ 13.8 Change in fair value included in earnings 2.3 4.2 Other (1.4 ) (2.7 ) Balance as of March 31, $ 16.5 $ 15.3
Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)	Contingent consideration payable (In millions) 2017 2016 Balance as of January 1, $ 1,058.0 $ 475.9 Acquisitions (4.0 ) 396.4 Change in fair value included in earnings (3.5 ) 11.4 Other 0.7 (1.2 ) Balance as of March 31, $ 1,051.2 $ 882.5
Fair Value Inputs, Assets Quantitative Information Table	Quantitative information about the Company’s recurring Level 3 fair value measurements is as follows: Financial assets: Fair value at the measurement date As of March 31, 2017 (In millions, except %) Fair value Valuation technique Significant unobservable inputs Range Contingent consideration receivable $ 16.5 Income approach (probability weighted discounted cash flow) • Probability weightings applied to different sales scenarios • 10 to 90% • Future forecast consideration receivable based on contractual terms with purchaser • $0 to $19.9 • Assumed market participant discount rate • 8.0%
Fair Value Inputs, Liabilities Quantitative Information Table	Financial liabilities: Fair value at the measurement date As of March 31, 2017 (in millions, except %) Fair value Valuation technique Significant unobservable inputs Range Contingent consideration payable $ 1,051.2 Income approach (probability weighted discounted cash flow) • Cumulative probability of milestones being achieved • 5 to 90% • Assumed market participant discount rate • 1.8 to 10.5% • Periods in which milestones are expected to be achieved • 2017 to 2040 • Forecast quarterly royalties payable on net sales of relevant products • $0.1 to $7.5 Financial liabilities: Fair value at the measurement date As of March 31, 2017 (in millions, except %) Fair value Valuation technique Significant unobservable inputs Range Joint venture net written option $ 25.0 Income approach (probability weighted discounted cash flow) • Cash flow scenario probability weighting • 0 to 65% • Assumed market participant discount rate • 16%
Schedule of Fair Value, Assets and Liabilities Not Measured at Fair Value on Recurring Basis	The carrying amounts and estimated fair values as of March 31, 2017 and December 31, 2016 of the Company’s financial assets and liabilities that are not measured at fair value on a recurring basis are as follows: March 31, 2017 December 31, 2016 (In millions) Carrying amount Fair value Carrying amount Fair value Financial liabilities: Senior notes $ 12,042.1 $ 11,802.0 $ 12,039.2 $ 11,633.8 Baxalta notes 5,061.4 5,155.8 5,063.6 5,066.5 Capital lease obligation 351.9 351.9 353.6 353.6

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instrument Detail [Abstract]
Summary of Derivative Instruments	The table below presents the notional amount, maturity and fair value for the designated interest rate derivatives: (In millions, except maturity) March 31, 2017 December 31, 2016 Notional amount $ 1,000.0 $ 1,000.0 Maturity June 2020 and June 2025 June 2020 and June 2025 Fair value - net liability $ (3.8 ) $ (1.2 ) The table below presents the notional amount, maximum duration and fair value for the designated foreign currency derivatives: (In millions, except duration) March 31, 2017 December 31, 2016 Notional amount $ 8.9 $ 78.7 Maximum duration (in months) 3 months 6 months Fair value - net asset $ 0.4 $ 4.2 The table below presents the notional amount, maximum duration and fair value for the undesignated foreign currency derivatives: (In millions, except duration) March 31, 2017 December 31, 2016 Notional amount $ 1,284.8 $ 1,309.1 Maximum duration (in months) 3 months 3 months Fair value - net asset $ 3.4 $ 6.7
Schedule of Foreign Exchange Contracts and Other Derivative Instruments, Statement of Financial Position	(In millions) Income Statement location Gain (loss) recognized in income Three months ended 2017 2016 Fair value hedges Interest rate contracts Interest expense $ (1.2 ) $ — Undesignated derivative instruments Foreign exchange contracts Other income/(expense), net (15.3 ) (24.1 ) Interest rate swap contracts Interest expense — (2.0 ) (In millions) Gain (loss) recognized in OCI Income Statement location Gain (loss) reclassified from AOCI into income Three months ended 2017 2016 2017 2016 Designated derivative instruments Cash flow hedges Foreign exchange contracts $ (0.6 ) $ — Cost of sales $ 6.6 $ —
Classification and Estimated Fair Value Amounts of Derivative Instruments	The following table presents the classification and estimated fair value of derivative instruments: Asset position Liability position (In millions) Fair value Fair value Balance Sheet location March 31, 2017 December 31, 2016 Balance Sheet location March 31, 2017 December 31, 2016 Designated derivative Instruments Foreign exchange contracts Prepaid expenses and other current assets $ 0.4 $ 4.3 Accounts payable and accrued expenses $ — $ 0.1 Interest rate contracts Long term borrowings — 0.1 Long term borrowings 3.8 1.3 $ 0.4 $ 4.4 $ 3.8 $ 1.4 Undesignated derivative instruments Foreign exchange forward contracts Prepaid expenses and other current assets $ 9.5 $ 13.6 Accounts payable and accrued expenses $ 6.1 $ 6.9 Total derivative fair value $ 9.9 $ 18.0 $ 9.9 $ 8.3 Potential effect of rights to offset (4.5 ) (1.7 ) (4.5 ) (1.7 ) Net derivative $ 5.4 $ 16.3 $ 5.4 $ 6.6

Borrowings and Capital Lease (T

Borrowings and Capital Lease (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Borrowings	(In millions) March 31, 2017 December 31, 2016 Short term borrowings: Borrowings under the Revolving Credit Facilities Agreement $ 1,030.0 $ 450.0 Borrowings under the November 2015 Facilities Agreement 1,995.1 2,594.8 Other borrowings and capital leases (short term portion) 24.4 23.2 $ 3,049.5 $ 3,068.0 Long term borrowings: Senior notes $ 12,042.1 $ 12,039.2 Baxalta notes 5,061.4 5,063.6 Borrowings under the November 2015 Facilities Agreement 1,994.1 2,391.8 Capital leases (long term portion) 345.3 347.2 Other borrowings 53.0 58.0 $ 19,495.9 $ 19,899.8 Total borrowings and capital leases $ 22,545.4 $ 22,967.8 (In millions, except %) Aggregate amount Coupon rate Effective interest rate in 2017 Carrying amount as of March 31, 2017 Fixed-rate notes due 2019 $ 3,300.0 1.900 % 2.05 % 3,288.6 Fixed-rate notes due 2021 3,300.0 2.400 % 2.53 % 3,283.8 Fixed-rate notes due 2023 2,500.0 2.875 % 2.97 % 2,488.4 Fixed-rate notes due 2026 3,000.0 3.200 % 3.30 % 2,981.3 $ 12,100.0 $ 12,042.1 Below is a summary of the Baxalta Notes as of March 31, 2017 : (In millions, except %) Aggregate principal Coupon rate Effective interest rate in 2017 Carrying amount as of March 31, 2017 Variable-rate notes due 2018 $ 375.0 LIBOR plus 0.78% 2.40 % $ 372.2 Fixed-rate notes due 2018 375.0 2.000 % 2.10 % 374.8 Fixed-rate notes due 2020 1,000.0 2.875 % 2.90 % 1,003.5 Fixed-rate notes due 2022 500.0 3.600 % 3.30 % 508.0 Fixed-rate notes due 2025 1,750.0 4.000 % 4.10 % 1,771.4 Fixed-rate notes due 2045 1,000.0 5.250 % 5.20 % 1,031.5 Total assumed Senior Notes $ 5,000.0 $ 5,061.4
Summary of Credit Facilities	On November 2, 2015 , Shire entered into a $5.6 billion facilities agreement (the “November 2015 Facilities Agreement”), which is comprised of three amortizing credit facilities with the following amounts outstanding as of March 31, 2017 , and their respective maturity dates: (In millions) Amount outstanding Maturity November 2015 Facility A $ 400.0 November 2, 2017 November 2015 Facility B 1,200.0 November 2, 2017 November 2015 Facility C 2,400.0 November 2, 2018 Total November 2015 Facilities $ 4,000.0

Retirement and Other Benefit 43

Retirement and Other Benefit Programs (Tables)	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Net Periodic Benefit Cost	Net periodic benefit cost associated with these plans for the three months ended March 31, 2017 is presented below. Three months ended March 31, 2017 (In millions) U.S. pensions International pensions OPEB (U.S.) Net periodic benefit cost Service cost $ 3.7 $ 9.4 $ 0.3 Interest cost 3.9 1.2 0.3 Expected return on plan assets (4.0 ) (1.8 ) — Net periodic benefit cost $ 3.6 $ 8.8 $ 0.6

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Changes in Accumulated Other Comprehensive Income, Net of Tax	The changes in accumulated other comprehensive loss ("AOCL"), net of their related tax effects, for the three months ended March 31, 2017 and 2016 are included below: (In millions) Foreign currency translation adjustment Pension and other employee benefits Unrealized holding gain on available-for-sale securities Hedging activities Accumulated other comprehensive loss As of January 1, 2017 $ (1,505.4 ) $ (5.2 ) $ 6.6 $ 6.4 $ (1,497.6 ) Other comprehensive income (loss) before reclassifications 265.5 7.4 2.1 (0.3 ) 274.7 Amounts reclassified from AOCL — — — (4.2 ) (4.2 ) Net current period other comprehensive income / (loss) 265.5 7.4 2.1 (4.5 ) 270.5 As of March 31, 2017 $ (1,239.9 ) $ 2.2 $ 8.7 $ 1.9 $ (1,227.1 ) (In millions) Foreign currency translation adjustment Pension and other employee benefits Unrealized holding (loss)/gain on available-for-sale securities Hedging activities Accumulated other comprehensive loss As of January 1, 2016 $ (182.1 ) $ — $ (1.7 ) $ — $ (183.8 ) Net current period other comprehensive income (loss) 24.7 — (0.3 ) — 24.4 As of March 31, 2016 $ (157.4 ) $ — $ (2.0 ) $ — $ (159.4 )
Reclassification out of Accumulated Other Comprehensive Income	The following is a summary of the amounts reclassified from AOCL to net income during the three months ended March 31, 2017 and 2016 : Three months ended March 31, (In millions) 2017 2016 Location of impact in Statements of Operations Gains (losses) on hedging activities Foreign exchange contracts $ 6.6 — Cost of sales 6.6 — Total before tax (2.4 ) — Tax expense $ 4.2 — Total net of tax

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table reconciles net income and loss and the weighted average ordinary shares outstanding for basic and diluted earnings per share ("EPS") for the periods presented: Three months ended (In millions) 2017 2016 Income from continuing operations, net of taxes $ 354.8 $ 409.5 Gain from discontinued operations, net of taxes 20.2 9.5 Numerator for basic and diluted earnings per share $ 375.0 $ 419.0 Weighted average number of shares: Basic 904.1 591.7 Effect of dilutive shares: Share-based awards to employees 7.7 1.6 Diluted 911.8 593.3
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The share equivalents not included in the calculation of the diluted weighted average number of shares are shown below: Three months ended (Number of shares in millions) 2017 2016 Share-based awards to employees 7.3 4.0

Share-based Compensation Plans

Share-based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Expense	Total share-based compensation recorded by the Company during the three months ended March 31, 2017 and 2016 by line item is as follows: Three months ended (In millions) 2017 2016 Cost of sales $ 6.6 $ 3.1 Research and development 10.0 11.6 Selling, general and administrative 31.3 9.2 Integration and acquisition costs 4.8 (5.6 ) Total 52.7 18.3 Less tax (13.1 ) (4.8 ) $ 39.6 $ 13.5

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting	In the periods set out below, revenues by major product were as follows: Three months ended (In millions) 2017 2016 Product sales: HEMOPHILIA $ 650.4 $ — INHIBITOR THERAPIES 220.5 — Hematology total 870.9 — CINRYZE 225.9 164.2 ELAPRASE 140.6 123.6 FIRAZYR 128.5 128.3 REPLAGAL 109.7 103.2 VPRIV 79.8 83.6 KALBITOR 11.7 10.4 Genetic Diseases total 696.2 613.3 IMMUNOGLOBULIN THERAPIES 498.3 — BIO THERAPEUTICS 177.9 — Immunology total 676.2 — VYVANSE 563.7 509.2 ADDERALL XR 64.9 98.8 Other Neuroscience 24.7 22.1 Neuroscience total 653.3 630.1 LIALDA/MEZAVANT 175.1 168.0 PENTASA 69.1 64.0 GATTEX/REVESTIVE 69.0 51.7 NATPARA 29.7 15.6 Other Internal Medicine 75.9 84.6 Internal Medicine total 418.8 383.9 Oncology total 58.3 — Opthalmology total 38.6 — Total Product sales 3,412.3 1,627.3 Royalties and other revenues: SENSIPAR Royalties 38.9 37.9 3TC and ZEFFIX Royalties 14.5 15.0 ADDERALL XR Royalties 12.5 5.8 FOSRENOL Royalties 8.6 9.2 Other Royalties and Revenues 85.5 14.1 Total Royalties and other revenues 160.0 82.0 Total Revenues $ 3,572.3 $ 1,709.3

Guarantor Financial Informati48

Guarantor Financial Information (Tables)	3 Months Ended
	Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Income Statement	Condensed Consolidating Statements of Operations For the three months ended March 31, 2017 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) Revenues: Product sales $ — $ — $ — $ 3,412.3 $ 3,412.3 $ — $ 3,412.3 Royalties and other revenues — — — 160.0 160.0 — 160.0 Total revenues — — — 3,572.3 3,572.3 — 3,572.3 Costs and expenses: Cost of sales — — 1.2 1,325.8 1,325.8 — 1,327.0 Research and development — — — 379.3 379.3 — 379.3 Selling, general and administrative 14.0 — 5.7 869.2 869.2 — 888.9 Amortization of acquired intangible assets — — — 364.0 364.0 — 364.0 Integration and acquisition costs — — 25.6 90.4 90.4 — 116.0 Reorganization costs — — — 5.5 5.5 — 5.5 Gain on sale of product rights — — — (5.5 ) (5.5 ) — (5.5 ) Total operating expenses 14.0 — 32.5 3,028.7 3,028.7 — 3,075.2 Operating (loss) / income from continuing operations (14.0 ) — (32.5 ) 543.6 543.6 — 497.1 Interest (expense) / income, net (30.3 ) 5.4 (21.4 ) (92.9 ) (87.5 ) — (139.2 ) Other income, net — — 0.5 4.0 4.0 — 4.5 Total other (expense) / income, net (30.3 ) 5.4 (20.9 ) (88.9 ) (83.5 ) — (134.7 ) (Loss) / income from continuing operations before income taxes and equity in income / (losses) of equity method investees (44.3 ) 5.4 (53.4 ) 454.7 460.1 — 362.4 Income taxes 1.5 (1.3 ) (19.9 ) 12.9 11.6 — (6.8 ) Equity in income / (losses) of equity method investees, net of taxes 417.8 — (126.8 ) (0.8 ) (0.8 ) (291.0 ) (0.8 ) Income / (loss) from continuing operations, net of taxes 375.0 4.1 (200.1 ) 466.8 470.9 (291.0 ) 354.8 Gain from discontinued operations, net of taxes — — — 20.2 20.2 — 20.2 Net income / (loss) 375.0 4.1 (200.1 ) 487.0 491.1 (291.0 ) 375.0 Comprehensive income / (loss) $ 645.5 $ 4.1 $ 48.7 $ 754.0 $ 758.1 $ (806.8 ) $ 645.5 Condensed Consolidating Statements of Operations For the three months ended March 31, 2016 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) Revenues: Product sales $ — $ — $ — $ 1,627.3 $ 1,627.3 $ — $ 1,627.3 Royalties and other revenues — — — 82.0 82.0 — 82.0 Total revenues — — — 1,709.3 1,709.3 — 1,709.3 Costs and expenses: Cost of sales — — — 248.6 248.6 — 248.6 Research and development — — — 217.1 217.1 — 217.1 Selling, general and administrative 17.0 — — 457.9 457.9 — 474.9 Amortization of acquired intangible assets — — — 134.6 134.6 — 134.6 Integration and acquisition costs — — 91.1 91.1 — 91.1 Reorganization costs — — — 3.3 3.3 — 3.3 Gain on sale of product rights — — — (4.2 ) (4.2 ) — (4.2 ) Total operating expenses 17.0 — — 1,148.4 1,148.4 — 1,165.4 Operating (loss) / income from continuing operations (17.0 ) — — 560.9 560.9 — 543.9 Interest (expense) / income, net (21.9 ) (21.8 ) — — (21.8 ) — (43.7 ) Other income, net (0.3 ) — — (8.2 ) (8.2 ) — (8.5 ) Total other (expense) / income, net (22.2 ) (21.8 ) — (8.2 ) (30.0 ) — (52.2 ) (Loss) / income from continuing operations before income taxes and equity in income / (losses) of equity method investees (39.2 ) (21.8 ) — 552.7 530.9 — 491.7 Income taxes 1.0 5.5 — (88.6 ) (83.1 ) — (82.1 ) Equity in income / (losses) of equity method investees, net of taxes 457.2 — — (0.1 ) (0.1 ) (457.2 ) (0.1 ) Income / (loss) from continuing operations, net of taxes 419.0 (16.3 ) — 464.0 447.7 (457.2 ) 409.5 Gain from discontinued operations, net of taxes — — — 9.5 9.5 — 9.5 Net income / (loss) 419.0 (16.3 ) — 473.5 457.2 (457.2 ) 419.0 Comprehensive income / (loss) $ 443.4 $ (16.3 ) $ — $ 497.9 $ 481.6 $ (481.6 ) $ 443.4
Condensed Balance Sheet	Condensed Consolidating Balance Sheet As of March 31, 2017 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ 0.3 $ 368.7 $ 368.7 $ — $ 369.0 Restricted cash — — — 34.1 34.1 — 34.1 Accounts receivable, net — — — 2,579.5 2,579.5 — 2,579.5 Inventories — — — 3,345.8 3,345.8 — 3,345.8 Prepaid expenses and other current assets 1.4 — 91.0 694.8 694.8 — 787.2 Intercompany receivables — 47.5 95.9 5,172.5 5,220.0 (5,315.9 ) — Short term intercompany loan receivable — 1,995.1 — — 1,995.1 (1,995.1 ) — Total current assets 1.4 2,042.6 187.2 12,195.4 14,238.0 (7,311.0 ) 7,115.6 Investments 36,484.0 — 34,799.8 12,607.6 12,607.6 (83,665.2 ) 226.2 Property, plant and equipment, net — — 28.6 6,467.5 6,467.5 — 6,496.1 Goodwill — — — 19,149.1 19,149.1 — 19,149.1 Intangible assets, net — — — 32,834.1 32,834.1 — 32,834.1 Deferred tax asset — — 271.5 125.5 125.5 (271.5 ) 125.5 Long term intercompany loan receivable — 14,036.2 411.4 — 14,036.2 (14,447.6 ) — Other non-current assets 3.9 — 33.6 176.0 176.0 — 213.5 Total assets $ 36,489.3 $ 16,078.8 $ 35,732.1 $ 83,555.2 $ 99,634.0 $ (105,695.3 ) $ 66,160.1 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses $ 1.6 $ 7.3 $ 61.1 $ 3,481.3 $ 3,488.6 $ — $ 3,551.3 Short term borrowings and capital leases 1,030.0 1,995.1 — 24.4 2,019.5 — 3,049.5 Intercompany payables 5,315.9 — — — — (5,315.9 ) — Short term intercompany loan payable — — — 1,995.1 1,995.1 (1,995.1 ) — Other current liabilities — — 75.0 334.6 334.6 — 409.6 Total current liabilities 6,347.5 2,002.4 136.1 5,835.4 7,837.8 (7,311.0 ) 7,010.4 Long term borrowings and capital leases — 14,036.2 5,061.4 398.3 14,434.5 — 19,495.9 Deferred tax liability — — — 8,024.1 8,024.1 (271.5 ) 7,752.6 Long term intercompany loan payable — — — 14,447.6 14,447.6 (14,447.6 ) — Other non-current liabilities 409.9 — 63.6 1,695.8 1,695.8 — 2,169.3 Total liabilities 6,757.4 16,038.6 5,261.1 30,401.2 46,439.8 (22,030.1 ) 36,428.2 Total equity 29,731.9 40.2 30,471.0 53,154.0 53,194.2 (83,665.2 ) 29,731.9 Total liabilities and equity $ 36,489.3 $ 16,078.8 $ 35,732.1 $ 83,555.2 $ 99,634.0 $ (105,695.3 ) $ 66,160.1 Condensed Consolidating Balance Sheet As of December 31, 2016 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ 41.7 $ 487.1 $ 487.1 $ — $ 528.8 Restricted cash — — — 25.6 25.6 — 25.6 Accounts receivable, net — — — 2,616.5 2,616.5 — 2,616.5 Inventories — — — 3,562.3 3,562.3 — 3,562.3 Prepaid expenses and other current assets 1.8 — 97.1 707.4 707.4 — 806.3 Intercompany receivables — 120.5 — 5,154.4 5,274.9 (5,274.9 ) — Short term intercompany loan receivable — 2,594.8 — — 2,594.8 (2,594.8 ) — Total current assets 1.8 2,715.3 138.8 12,553.3 15,268.6 (7,869.7 ) 7,539.5 Investments 35,656.1 — 34,644.2 12,571.8 12,571.8 (82,680.5 ) 191.6 Property, plant and equipment, net — — 27.4 6,442.2 6,442.2 — 6,469.6 Goodwill — — — 17,888.2 17,888.2 — 17,888.2 Intangible assets, net — — — 34,697.5 34,697.5 — 34,697.5 Deferred tax asset — — 273.0 96.7 96.7 (273.0 ) 96.7 Long term intercompany loan receivable — 14,431.0 480.7 — 14,431.0 (14,911.7 ) — Other non-current assets 3.9 — 33.8 114.6 114.6 — 152.3 Total assets $ 35,661.8 $ 17,146.3 $ 35,597.9 $ 84,364.3 $ 101,510.6 $ (105,734.9 ) $ 67,035.4 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses $ 1.3 $ 85.7 $ 20.0 $ 4,205.4 $ 4,291.1 $ — $ 4,312.4 Short term borrowings and capital leases 450.0 2,594.8 — 23.2 2,618.0 — 3,068.0 Intercompany payables 5,247.1 — 27.8 — — (5,274.9 ) — Short term intercompany loans payable — — — 2,594.8 2,594.8 (2,594.8 ) — Other current liabilities — — 64.6 298.3 298.3 — 362.9 Total current liabilities 5,698.4 2,680.5 112.4 7,121.7 9,802.2 (7,869.7 ) 7,743.3 Long term borrowings and capital leases — 14,431.0 5,063.7 405.1 14,836.1 — 19,899.8 Deferred tax liability — — — 8,595.7 8,595.7 (273.0 ) 8,322.7 Long term intercompany loans payable 610.1 — — 14,301.6 14,301.6 (14,911.7 ) — Other non-current liabilities 405.3 — 61.7 1,654.6 1,654.6 — 2,121.6 Total liabilities 6,713.8 17,111.5 5,237.8 32,078.7 49,190.2 (23,054.4 ) 38,087.4 Total equity 28,948.0 34.8 30,360.1 52,285.6 52,320.4 (82,680.5 ) 28,948.0 Total liabilities and equity $ 35,661.8 $ 17,146.3 $ 35,597.9 $ 84,364.3 $ 101,510.6 $ (105,734.9 ) $ 67,035.4
Condensed Cash Flow Statement	Condensed Consolidating Statement of Cash Flows For the three months ended March 31, 2017 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided (used in) operating activities $ (9.6 ) $ (84.1 ) $ (0.3 ) $ 553.1 $ 469.0 $ — $ 459.1 CASH FLOWS FROM INVESTING ACTIVITIES: Transactions with subsidiaries (760.6 ) — (110.5 ) (733.2 ) (733.2 ) 1,604.3 — Movements in restricted cash — — — (8.5 ) (8.5 ) — (8.5 ) Purchases of PP&E and non-current investments — — (2.4 ) (210.1 ) (210.1 ) — (212.5 ) Other, net 0.3 — 2.0 (1.1 ) (1.1 ) — 1.2 Net cash provided by (used in) investing activities (760.3 ) — (110.9 ) (952.9 ) (952.9 ) 1,604.3 (219.8 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit, long term and short term borrowings 1,400.0 — — 1.9 1.9 — 1,401.9 Repayment of revolving line of credit, long term and short term borrowings (820.0 ) (1,000.0 ) — (5.7 ) (1,005.7 ) — (1,825.7 ) Proceeds from intercompany borrowings 189.8 1,084.1 69.3 261.1 1,345.2 (1,604.3 ) — Proceeds from exercise of options 0.1 — 1.7 20.3 20.3 — 22.1 Other, net — — (1.2 ) 1.1 1.1 — (0.1 ) Net cash provided by (used in) financing activities 769.9 84.1 69.8 278.7 362.8 (1,604.3 ) (401.8 ) Effect of foreign exchange rate changes on cash and cash equivalents — — — 2.7 2.7 — 2.7 Net increase in cash and cash equivalents — — (41.4 ) (118.4 ) (118.4 ) — (159.8 ) Cash and cash equivalents at beginning of period — — 41.7 487.1 487.1 — 528.8 Cash and cash equivalents at end of period $ — $ — $ 0.3 $ 368.7 $ 368.7 $ — $ 369.0 Condensed Consolidating Statement of Cash Flows For the three months ended March 31, 2016 Shire plc (Parent Guarantor) SAIIDAC (SAIIDAC Notes Subsidiary Issuer) Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor) Non-Guarantor Non-Issuer Subsidiaries Non-Guarantor Subsidiaries of Baxalta Notes Eliminations Consolidated (In millions) CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided (used in) operating activities $ (45.9 ) $ (11.5 ) $ — $ 446.9 $ 435.4 $ — $ 389.5 CASH FLOWS FROM INVESTING ACTIVITIES: Transactions with subsidiaries (1,900.0 ) (5,494.7 ) — (2,235.9 ) (7,730.6 ) 9,630.6 — Movements in restricted cash — — — 64.8 64.8 — 64.8 Purchases of subsidiary undertakings and businesses, net of cash acquired — — — (5,692.8 ) (5,692.8 ) — (5,692.8 ) Purchases of PP&E and non-current investments — — — (51.6 ) (51.6 ) — (51.6 ) Other, net — — — 5.5 5.5 — 5.5 Net cash provided by (used in) investing activities (1,900.0 ) (5,494.7 ) — (7,910.0 ) (13,404.7 ) 9,630.6 (5,674.1 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit, long term and short term borrowings 705.0 5,600.0 — — 5,600.0 — 6,305.0 Repayment of revolving line of credit, long term and short term borrowings (995.0 ) — — (0.1 ) (0.1 ) — (995.1 ) Proceeds from intercompany borrowings 2,235.9 — — 7,394.7 7,394.7 (9,630.6 ) — Debt issuance costs — (93.8 ) — — (93.8 ) — (93.8 ) Proceeds from exercise of options — — — 0.1 0.1 — 0.1 Other, net — — — 0.9 0.9 — 0.9 Net cash provided by (used in) financing activities 1,945.9 5,506.2 — 7,395.6 12,901.8 (9,630.6 ) 5,217.1 Effect of foreign exchange rate changes on cash and cash equivalents — — — 1.0 1.0 — 1.0 Net decrease in cash and cash equivalents — — — (66.5 ) (66.5 ) — (66.5 ) Cash and cash equivalents at beginning of period — — — 135.5 135.5 — 135.5 Cash and cash equivalents at end of period $ — $ — $ — $ 69.0 $ 69.0 $ — $ 69.0

Summary of Significant Accoun49

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Jun. 03, 2016	Mar. 31, 2017	Dec. 31, 2016
Cumulative-effect adjustment from adoption of ASU 2016-09			$ 39
Baxalta
Preliminary fair value of purchase consideration	$ 32,393.7	$ 32,393.7
Additional paid-in capital
Cumulative-effect adjustment from adoption of ASU 2016-09			10.7
Retained earnings
Cumulative-effect adjustment from adoption of ASU 2016-09			28.3
Accounting Standards Update 2016-09, Excess Tax Benefit Component | Additional paid-in capital
Cumulative-effect adjustment from adoption of ASU 2016-09			11.5
Accounting Standards Update 2016-09, Excess Tax Benefit Component | Retained earnings
Cumulative-effect adjustment from adoption of ASU 2016-09			39
Accounting Standards Update 2016-09, Forfeiture Rate Component | Retained earnings
Cumulative-effect adjustment from adoption of ASU 2016-09			$ 10.7

Business Combinations (Acquisit

Business Combinations (Acquisition of Baxalta) (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions	Jun. 03, 2016USD ($)$ / sharesshares	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Goodwill		$ 19,149.1	$ 6,881.9	$ 17,888.2	$ 4,147.8
Integration and acquisition costs		116	$ 91.1
Baxalta
Business Acquisition [Line Items]
Purchase price paid per share of acquiree, in cash (in USD per share) | $ / shares	$ 18
Shares issued for acquisition (in shares) | shares	305.2
Cost of sales adjustment		95.6
Amortization adjustment		27.8
Goodwill	$ 12,636.2	12,636.2
Integration and acquisition costs		118.5
Maximum amount of contingent cash consideration	1,500
Contingent consideration payable	165
Defined benefit net liability	610.4
Fair value of plan assets	$ 358.5
Baxalta | ADS
Business Acquisition [Line Items]
Shire shares per Baxalta share	0.1482
Baxalta | Common stock
Business Acquisition [Line Items]
Shire shares per Baxalta share	0.4446
Currently marketed products | Baxalta
Business Acquisition [Line Items]
Intangible assets	$ 20,890	20,890
Weighted average amortization period of acquired amortizable intangible assets	21 years
In-Process Research and Development (IPR&D) | Baxalta
Business Acquisition [Line Items]
Intangible assets	$ 150	$ 150
Discount rate used in determining fair value of acquired in process research and development, low rate	9.50%
Minimum | Currently marketed products | Baxalta
Business Acquisition [Line Items]
Estimated useful life of intangible assets	6 years
Maximum | Currently marketed products | Baxalta
Business Acquisition [Line Items]
Estimated useful life of intangible assets	23 years

Business Combinations (Baxalta

Business Combinations (Baxalta Purchase Price Consideration) (Details) - Baxalta - USD ($) $ in Millions	Jun. 03, 2016	Mar. 31, 2017
Business Acquisition [Line Items]
Cash paid to shareholders	$ 12,366.7
Fair value of stock issued to shareholders	19,353.2
Fair value of partially vested stock options and RSUs assumed	508.8
Contingent consideration payable	165
Total Purchase Consideration	$ 32,393.7	$ 32,393.7

Business Combinations (Baxalt52

Business Combinations (Baxalta Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions	Jun. 03, 2016	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Goodwill		$ 19,149.1	$ 17,888.2	$ 6,881.9	$ 4,147.8
Baxalta
Current assets:
Cash and cash equivalents		583.2
Accounts receivable		974.7
Inventories		3,991.2
Other current assets		576
Total current assets		6,125.1
Property, plant and equipment		5,414.7
Investments		128.2
Goodwill	$ 12,636.2	12,636.2
Other non-current assets		217.4
Total assets		45,603.8
Current liabilities:
Accounts payable and accrued expenses		1,306.4
Other current liabilities		361.9
Long-term borrowings		5,424.9
Deferred tax liability		5,013.3
Other non-current liabilities		1,103.6
Total liabilities		13,210.1
Preliminary fair value of identifiable assets acquired and liabilities assumed		32,393.7
Preliminary fair value of purchase consideration	32,393.7	32,393.7
Currently marketed products | Baxalta
Current assets:
Intangible assets	20,890	20,890
In-Process Research and Development (IPR&D) | Baxalta
Current assets:
Intangible assets	$ 150	150
Contract based arrangements | Baxalta
Current assets:
Intangible assets		42.2
Preliminary values | Baxalta
Current assets:
Cash and cash equivalents			583.2
Accounts receivable			1,069.7
Inventories			3,893.4
Other current assets			576
Total current assets			6,122.3
Property, plant and equipment			5,452.7
Investments			128.2
Goodwill			11,422.4
Other non-current assets			155
Total assets			46,047.8
Current liabilities:
Accounts payable and accrued expenses			1,321.9
Other current liabilities			354.4
Long-term borrowings			5,424.9
Deferred tax liability			5,445.3
Other non-current liabilities			1,103.6
Total liabilities			13,650.1
Preliminary fair value of identifiable assets acquired and liabilities assumed			32,397.7
Preliminary fair value of purchase consideration			32,397.7
Preliminary values | Currently marketed products | Baxalta
Current assets:
Intangible assets			21,995
Preliminary values | In-Process Research and Development (IPR&D) | Baxalta
Current assets:
Intangible assets			730
Preliminary values | Contract based arrangements | Baxalta
Current assets:
Intangible assets			$ 42.2
Measurement period adjustments | Baxalta
Current assets:
Cash and cash equivalents		0
Accounts receivable		(95)
Inventories		97.8
Other current assets		0
Total current assets		2.8
Property, plant and equipment		(38)
Investments		0
Goodwill		1,213.8
Other non-current assets		62.4
Total assets		(444)
Current liabilities:
Accounts payable and accrued expenses		(15.5)
Other current liabilities		7.5
Long-term borrowings		0
Deferred tax liability		(432)
Other non-current liabilities		0
Total liabilities		(440)
Preliminary fair value of identifiable assets acquired and liabilities assumed		(4)
Preliminary fair value of purchase consideration		(4)
Measurement period adjustments | Currently marketed products | Baxalta
Current assets:
Intangible assets		(1,105)
Measurement period adjustments | In-Process Research and Development (IPR&D) | Baxalta
Current assets:
Intangible assets		(580)
Measurement period adjustments | Contract based arrangements | Baxalta
Current assets:
Intangible assets		$ 0

Business Combinations (Baxalt53

Business Combinations (Baxalta Pro Forma Information) (Details) - Baxalta $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)$ / shares
Business Acquisition [Line Items]
Revenues	$ 3,257.3
Net (loss)/income from continuing operations	$ 305.1
Net (loss)/income from continuing operations per share - basic (in usd per share) | $ / shares	$ 0.52
Net (loss)/income from continuing operations per share - diluted (in usd per share) | $ / shares	$ 0.51
Increase/(decrease) to net income to reflect acquisition related costs	$ 39.5
Increase/(decrease) to net income to reflect the fair value adjustment to acquisition date inventory.	46.9
An adjustment to increase amortization of intangible assets	181.8
Decrease to net income to reflect the additional interest expense	$ 60.3

Business Combinations (Acquis54

Business Combinations (Acquisition of Dyax) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 22, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 19,149.1	$ 6,881.9	$ 17,888.2	$ 4,147.8
Integration and acquisition costs		$ 116	$ 91.1
Dyax
Business Acquisition [Line Items]
Purchase price paid per share of acquiree, in cash (in USD per share)	$ 37.30
Contingent consideration payable (in usd per share)	$ 4
Preliminary fair value of identifiable assets acquired and liabilities assumed	$ 6,330
Cash paid on closing	5,934
Contingent consideration payable	396
Maximum amount of contingent cash consideration	646
Goodwill	2,702.1
Currently marketed products | Dyax
Business Acquisition [Line Items]
Intangible assets	135
In-Process Research and Development (IPR&D) | Dyax
Business Acquisition [Line Items]
Intangible assets	4,100
Other intangible assets | Dyax
Business Acquisition [Line Items]
Intangible assets	$ 425
Weighted average amortization period of acquired amortizable intangible assets	8 years
KALBITOR | Dyax
Business Acquisition [Line Items]
Estimated useful life of intangible assets	18 years
SHP643 | Dyax
Business Acquisition [Line Items]
Discount rate used in determining fair value of acquired in process research and development, high rate	9.00%
Minimum | Other intangible assets | Dyax
Business Acquisition [Line Items]
Estimated useful life of intangible assets	7 years
Maximum | Other intangible assets | Dyax
Business Acquisition [Line Items]
Estimated useful life of intangible assets	9 years

Business Combinations (Dyax Ass

Business Combinations (Dyax Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions	Jan. 22, 2016	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Non-current assets:
Goodwill		$ 19,149.1	$ 17,888.2	$ 6,881.9	$ 4,147.8
Dyax
Current assets:
Cash and cash equivalents	$ 241.2
Accounts receivable	22.5
Inventories	20.2
Other current assets	8.1
Total current assets	292
Non-current assets:
Property, plant and equipment	5.8
Goodwill	2,702.1
Other non-current assets	28.6
Total assets	7,688.5
Current liabilities:
Accounts payable and accrued expenses	30
Other current liabilities	1.7
Non-current liabilities:
Deferred tax liability	1,325.4
Other non-current liabilities	1.4
Total liabilities	1,358.5
Preliminary fair value of identifiable assets acquired and liabilities assumed	6,330
Preliminary fair value of purchase consideration	6,330
Currently marketed products | Dyax
Non-current assets:
Intangible assets	135
In-Process Research and Development (IPR&D) | Dyax
Non-current assets:
Intangible assets	4,100
Contract based royalty arrangements | Dyax
Non-current assets:
Intangible assets	$ 425

Business Combinations (Dyax Pro

Business Combinations (Dyax Pro Forma Information) (Details) - Dyax $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)$ / shares
Business Acquisition [Line Items]
Revenues	$ 1,715.2
Net income from continuing operations	$ 401.6
Net income from continuing operations per share - basic (in usd per share) | $ / shares	$ 0.68
Net income from continuing operations per share - diluted (in usd per share) | $ / shares	$ 0.68
Increase/(decrease) to net income to reflect acquisition related costs	$ 99.2
An adjustment to increase amortization of intangible assets	$ 1.3

Integration and Acquisition C57

Integration and Acquisition Costs (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Business Acquisition [Line Items]
Integration and acquisition costs (credits)	$ 116	$ 91.1
Baxalta
Business Acquisition [Line Items]
Integration and acquisition costs (credits)	118.5
Employee termination benefits and other reorganization costs | Baxalta
Business Acquisition [Line Items]
Integration costs	36.9	11
Acquisition-related costs | Baxalta
Business Acquisition [Line Items]
Integration costs		11.4
Third-party professional fees | Baxalta
Business Acquisition [Line Items]
Integration costs	35.2	58.5
Facility consolidations | Baxalta
Business Acquisition [Line Items]
Integration costs	$ 24.5
Change in fair value of contingent consideration | Baxalta
Business Acquisition [Line Items]
Integration costs		$ 10

Integration and Acquisition C58

Integration and Acquisition Costs (Summary of Employee Termination Related Reserve and Other) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Restructuring Reserve [Roll Forward]
As of January 1,	$ 74
Amount charged to integration costs	47.7
Paid/utilized	(33.3)
As of March 31,	88.4
Severance and employee benefits
Restructuring Reserve [Roll Forward]
As of January 1,	74
Amount charged to integration costs	23.2
Paid/utilized	(30.9)
As of March 31,	66.3
Lease terminations
Restructuring Reserve [Roll Forward]
As of January 1,	0
Amount charged to integration costs	24.5
Paid/utilized	(2.4)
As of March 31,	$ 22.1

Results of Discontinued Opera59

Results of Discontinued Operations (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) from discontinued operations, net of taxes		$ 20.2	$ 9.5
Settlement amount	$ 350
Legal settlements payment		345.5
Settlement agreement released from escrow		37.5
DERMAGRAFT | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) from discontinued operations, net of taxes		(20.2)	9.5
Tax expense of discontinued operations		$ 11.6	$ 5.5

Accounts Receivable, Net (Narra

Accounts Receivable, Net (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Accounts receivable, net	$ 2,579.5	$ 2,616.5
Reserve for discounts and allowances	160.3	169.6	$ 81.9	$ 55.8
Accounts receivable related to royalty income	$ 89.4	$ 102.2

Accounts Receivable, Net (Summa

Accounts Receivable, Net (Summary of Reserve for Discounts and Allowances) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Provision for discounts and doubtful accounts
As of January 1,	$ 169.6	$ 55.8
Provision charged to operations	295.2	149.4
Payments/credits	(304.5)	(123.3)
As of March 31,	$ 160.3	$ 81.9

Inventories (Summary of Invento

Inventories (Summary of Inventories) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Schedule of Inventory
Finished goods	$ 1,093	$ 1,380
Work-in-progress	1,541.7	1,491
Raw materials	711.1	691.3
Total inventories	$ 3,345.8	$ 3,562.3

Property, Plant and Equipment63

Property, Plant and Equipment, Net (Summary of Property, Plant and Equipment) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment, Net
Land	$ 339.2	$ 337.9
Buildings and leasehold improvements	1,943	1,915.4
Machinery, equipment and other	2,642.6	2,547.2
Assets under construction	2,642.8	2,632.5
Total property, plant and equipment at cost	7,567.6	7,433
Less: Accumulated depreciation	(1,071.5)	(963.4)
Property, plant and equipment, net	$ 6,496.1	$ 6,469.6

Property, Plant and Equipment64

Property, Plant and Equipment, Net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Depreciation	$ 122.9	$ 34.3

Intangible Assets (Summary of I

Intangible Assets (Summary of Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross acquired intangible assets	$ 36,306.9	$ 37,806.3
Less: Accumulated amortization	(3,472.8)	(3,108.8)
Intangible assets, net	32,834.1	34,697.5	$ 13,715.6	$ 9,173.3
Currently marketed products
Finite-Lived Intangible Assets [Line Items]
Gross acquired intangible assets	30,337.5	31,217.5
Less: Accumulated amortization	(3,242.8)	(2,908.6)
Intangible assets, net	27,094.7	28,308.9
IPR&D
Finite-Lived Intangible Assets [Line Items]
Gross acquired intangible assets	5,127.2	5,746.6
Less: Accumulated amortization	0	0
Intangible assets, net	5,127.2	5,746.6
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross acquired intangible assets	842.2	842.2
Less: Accumulated amortization	(230)	(200.2)
Intangible assets, net	$ 612.2	$ 642

Intangible Assets (Roll Forward

Intangible Assets (Roll Forward) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Intangible Assets Roll Forward
Beginning balance	$ 34,697.5	$ 9,173.3
Acquisitions	(1,685)	4,660.9
Amortization charged	(364)	(134.6)
Foreign currency translation	185.6	16
Ending balance	$ 32,834.1	$ 13,715.6

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	Jun. 03, 2016	Jan. 22, 2016	Mar. 31, 2017	Mar. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Acquisitions			$ (1,685)	$ 4,660.9
Baxalta | Currently marketed products
Finite-Lived Intangible Assets [Line Items]
Acquisitions	$ 20,890
Baxalta | In-Process Research and Development (IPR&D)
Finite-Lived Intangible Assets [Line Items]
Acquisitions	150
Baxalta | Contract based arrangements
Finite-Lived Intangible Assets [Line Items]
Acquisitions	$ 42.2
Dyax | Currently marketed products
Finite-Lived Intangible Assets [Line Items]
Acquisitions		$ 135
Dyax | In-Process Research and Development (IPR&D)
Finite-Lived Intangible Assets [Line Items]
Acquisitions		4,100
Dyax | Royalty rights
Finite-Lived Intangible Assets [Line Items]
Acquisitions		$ 425

Goodwill (Rollforward of Goodwi

Goodwill (Rollforward of Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Goodwill [Roll Forward]
As of January, 1	$ 17,888.2	$ 4,147.8
Acquisitions	1,213.8	2,729.5
Foreign currency translation	47.1	4.6
As of March 31,	$ 19,149.1	$ 6,881.9

Fair Value Measurement (Assets

Fair Value Measurement (Assets and Liabilities Measured on a Recurring Basis) (Details) - Recurring Basis - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	$ 70.8	$ 65.8
Marketable debt securities	3.5	3.6
Contingent consideration receivable	0	0
Derivative instruments	0	0
Total assets	74.3	69.4
Joint venture net written option	0
Derivative instruments	0	0
Contingent consideration payable	0	0
Total liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	0	0
Marketable debt securities	12	11.9
Contingent consideration receivable	0	0
Derivative instruments	9.9	18
Total assets	21.9	29.9
Joint venture net written option	0
Derivative instruments	9.9	8.3
Contingent consideration payable	0	0
Total liabilities	9.9	8.3
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	0	0
Marketable debt securities	0	0
Contingent consideration receivable	16.5	15.6
Derivative instruments	0	0
Total assets	16.5	15.6
Joint venture net written option	25
Derivative instruments	0	0
Contingent consideration payable	1,051.2	1,058
Total liabilities	1,076.2	1,058
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	70.8	65.8
Marketable debt securities	15.5	15.5
Contingent consideration receivable	16.5	15.6
Derivative instruments	9.9	18
Total assets	112.7	114.9
Joint venture net written option	25
Derivative instruments	9.9	8.3
Contingent consideration payable	1,051.2	1,058
Total liabilities	$ 1,086.1	$ 1,066.3

Fair Value Measurement (Asset70

Fair Value Measurement (Assets and Liabilities Measure at Fair Value on Recurring Basis using Level 3 Inputs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	$ 15.6	$ 13.8
Change in fair value included in earnings	2.3	4.2
Other	(1.4)	(2.7)
Balance as of March 31,	16.5	15.3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	1,058	475.9
Acquisitions	(4)	396.4
Change in fair value included in earnings	(3.5)	11.4
Other	0.7	(1.2)
Balance as of March 31,	$ 1,051.2	$ 882.5

Fair Value Measurement (Qualita

Fair Value Measurement (Qualitative Information About Assets Measured at Fair Value on Recurring Basis Using Level 3 Inputs) (Details) - Recurring Basis - Contingent Consideration Receivable - Income approach (probability weighted discounted cash flow) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets	$ 16.5
Assumed market participant discount rate	8.00%
Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability weightings applied to different sales scenarios (in percent)	10.00%
Future forecast consideration receivable based on contractual terms with purchaser	$ 0
Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability weightings applied to different sales scenarios (in percent)	90.00%
Future forecast consideration receivable based on contractual terms with purchaser	$ 19.9

Fair Value Measurement (Quali72

Fair Value Measurement (Qualitative Information About Liabilities Measured at Fair Value on Recurring Basis Using Level 3 Inputs) (Details) - Recurring Basis $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Contingent Consideration Payable | Income approach (probability weighted discounted cash flow)
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Liabilities	$ 1,051.2
Derivative Financial Instruments, Liabilities [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Assumed market participant discount rate	16.00%
Minimum | Contingent Consideration Payable
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Cumulative probability of milestones being achieved (in percent)	5.00%
Assumed market participant discount rate	1.80%
Periods in which milestones are expected to be achieved	2,017
Forecast quarterly royalties payable on net sales of relevant products	$ 0.1
Minimum | Derivative Financial Instruments, Liabilities [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Cash flow scenario probability weighting	0.00%
Maximum | Contingent Consideration Payable
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Cumulative probability of milestones being achieved (in percent)	90.00%
Assumed market participant discount rate	10.50%
Periods in which milestones are expected to be achieved	2,040
Forecast quarterly royalties payable on net sales of relevant products	$ 7.5
Maximum | Derivative Financial Instruments, Liabilities [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Cash flow scenario probability weighting	65.00%
Fair value
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Joint venture net written option	$ 25

Fair Value Measurement (Financi

Fair Value Measurement (Financial Assets and Liabilities Not Measured on a Recurring Basis) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Capital lease obligation	$ 351.9
Fair value | Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	11,802	$ 11,633.8
Capital lease obligation	351.9	353.6
Carrying value | Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	12,042.1	12,039.2
Capital lease obligation	351.9	353.6
Baxalta | Fair value | Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	5,155.8	5,066.5
Baxalta | Carrying value | Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	$ 5,061.4	$ 5,063.6

Fair Value Measurement (Narrati

Fair Value Measurement (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Liability	$ 1,051.2	$ 1,058	$ 882.5	$ 475.9
Contingent consideration payable, current	105.4
Contingent consideration payable, noncurrent	945.8
Fair value | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Joint venture net written option	$ 25

Financial Instruments (Summary

Financial Instruments (Summary of Derivative Instruments) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Notional amount	$ 1,284.8	$ 1,309.1
Fair value - net asset (liability)	3.4	6.7
Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Notional amount	8.9	78.7
Fair value - net asset (liability)	0.4	4.2
Fair Value Hedging | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Notional amount	1,000	1,000
Fair value - net asset (liability)	$ (3.8)	$ (1.2)

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Derivative [Line Items]
Deferred gains to be reclassified in next 12 months	$ 2
Foreign Exchange Contract | Designated as Hedging Instrument
Derivative [Line Items]
Amount of net losses recognized in OCI	(0.6)	$ 0
Interest Expense | Interest Rate Contract | Designated as Hedging Instrument
Derivative [Line Items]
Ineffectiveness reported as component of interest expense	(1.2)
Amount of net losses recognized in OCI	$ (1.2)	$ 0

Financial Instruments (Derivati

Financial Instruments (Derivative Income Statement Location, Gains & Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Foreign Exchange Contract | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in OCI	$ (0.6)	$ 0
Foreign Exchange Contract | Other income/(expense), net | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in income	(15.3)	(24.1)
Interest Rate Contract | Interest expense | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in OCI	(1.2)	0
Interest Rate Contract | Interest expense | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in income	0	(2)
Amounts reclassified from AOCI | Accumulated Net Gain (Loss) from Cash Flow Hedges | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	$ 6.6	$ 0

Financial Instruments (Foreign

Financial Instruments (Foreign Exchange Risk and Its Classification on Balance Sheet) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Designated as Hedging Instrument
Derivatives, Fair Value
Asset position	$ 0.4	$ 4.4
Liability position	3.8	1.4
Not Designated as Hedging Instrument
Derivatives, Fair Value
Asset position	9.9	18
Liability position	9.9	8.3
Potential effect of rights to offset, asset position	(4.5)	(1.7)
Potential effect of rights to offset, liability position	(4.5)	(1.7)
Net derivative, asset position	5.4	16.3
Net derivative, liability position	5.4	6.6
Foreign Exchange Contract | Prepaid expenses and other current assets | Designated as Hedging Instrument
Derivatives, Fair Value
Asset position	0.4	4.3
Foreign Exchange Contract | Prepaid expenses and other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value
Asset position	9.5	13.6
Foreign Exchange Contract | Accounts payable and accrued expenses | Designated as Hedging Instrument
Derivatives, Fair Value
Liability position	0	0.1
Foreign Exchange Contract | Accounts payable and accrued expenses | Not Designated as Hedging Instrument
Derivatives, Fair Value
Liability position	6.1	6.9
Interest Rate Contract | Long-term borrowings | Designated as Hedging Instrument
Derivatives, Fair Value
Asset position	0	0.1
Liability position	$ 3.8	$ 1.3

Borrowings and Capital Lease (S

Borrowings and Capital Lease (Short-term Borrowings) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Short-term Debt [Line Items]
Other borrowings and capital leases (short term portion)	$ 24.4	$ 23.2
Short-term Debt, Total	3,049.5	3,068
Revolving Credit Facility
Short-term Debt [Line Items]
Borrowings under the Facilities Agreement	1,030	450
November 2015 Facilities Agreement
Short-term Debt [Line Items]
Borrowings under the Facilities Agreement	$ 1,995.1	$ 2,594.8

Borrowings and Capital Lease (L

Borrowings and Capital Lease (Long-term Borrowings) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Senior notes	$ 12,042.1	$ 12,039.2
Capital leases (long term portion)	345.3	347.2
Other borrowings	53	58
Long-term Debt, Gross, Total	19,495.9	19,899.8
Total borrowings and capital leases	22,545.4	22,967.8
November 2015 Facilities Agreement
Debt Instrument [Line Items]
Borrowings under the Facilities Agreement	1,994.1	2,391.8
Baxalta
Debt Instrument [Line Items]
Senior notes	$ 5,061.4	$ 5,063.6

Borrowings and Capital Lease 81

Borrowings and Capital Lease (Senior Notes Issued by SAIIDAC) (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Carrying amount	$ 19,495,900,000	$ 19,899,800,000
Shire Acquisitions Investment Ireland Designated Activity Company | Senior Notes
Debt Instrument [Line Items]
Aggregate amount	12,100,000,000
Carrying amount	12,042,100,000
Shire Acquisitions Investment Ireland Designated Activity Company | Senior Notes | Fixed-rate notes due 2019
Debt Instrument [Line Items]
Aggregate amount	$ 3,300,000,000
Coupon rate	1.90%
Effective Interest Rate	2.05%
Carrying amount	$ 3,288,600,000
Shire Acquisitions Investment Ireland Designated Activity Company | Senior Notes | Fixed-rate notes due 2021
Debt Instrument [Line Items]
Aggregate amount	$ 3,300,000,000
Coupon rate	2.40%
Effective Interest Rate	2.53%
Carrying amount	$ 3,283,800,000
Shire Acquisitions Investment Ireland Designated Activity Company | Senior Notes | Fixed-rate notes due 2023
Debt Instrument [Line Items]
Aggregate amount	$ 2,500,000,000
Coupon rate	2.875%
Effective Interest Rate	2.97%
Carrying amount	$ 2,488,400,000
Shire Acquisitions Investment Ireland Designated Activity Company | Senior Notes | Fixed-rate notes due 2026
Debt Instrument [Line Items]
Aggregate amount	$ 3,000,000,000
Coupon rate	3.20%
Effective Interest Rate	3.30%
Carrying amount	$ 2,981,300,000

Borrowings and Capital Lease 82

Borrowings and Capital Lease (Senior Notes Related to Baxalta Acquisition) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Carrying amount	$ 19,495,900,000	$ 19,899,800,000
Baxalta
Debt Instrument [Line Items]
Aggregate amount	5,000,000,000
Baxalta | Senior Notes
Debt Instrument [Line Items]
Carrying amount	5,061,400,000
Baxalta | Senior Notes | Variable-rate notes due 2018
Debt Instrument [Line Items]
Aggregate amount	$ 375,000,000
Effective Interest Rate	2.40%
Carrying amount	$ 372,200,000
Baxalta | Senior Notes | Variable-rate notes due 2018 | LIBOR
Debt Instrument [Line Items]
Effective Interest Rate, Variable Rate	0.78%
Baxalta | Senior Notes | Fixed-rate notes due 2018
Debt Instrument [Line Items]
Aggregate amount	$ 375,000,000
Coupon rate	2.00%
Effective Interest Rate	2.10%
Carrying amount	$ 374,800,000
Baxalta | Senior Notes | Fixed-rate notes due 2020
Debt Instrument [Line Items]
Aggregate amount	$ 1,000,000,000
Coupon rate	2.875%
Effective Interest Rate	2.90%
Carrying amount	$ 1,003,500,000
Baxalta | Senior Notes | Fixed-rate notes due 2022
Debt Instrument [Line Items]
Aggregate amount	$ 500,000,000
Coupon rate	3.60%
Effective Interest Rate	3.30%
Carrying amount	$ 508,000,000
Baxalta | Senior Notes | Fixed-rate notes due 2025
Debt Instrument [Line Items]
Aggregate amount	$ 1,750,000,000
Coupon rate	4.00%
Effective Interest Rate	4.10%
Carrying amount	$ 1,771,400,000
Baxalta | Senior Notes | Fixed-rate notes due 2045
Debt Instrument [Line Items]
Aggregate amount	$ 1,000,000,000
Coupon rate	5.25%
Effective Interest Rate	5.20%
Carrying amount	$ 1,031,500,000

Borrowings and Capital Lease (N

Borrowings and Capital Lease (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Sep. 23, 2016	Dec. 12, 2014
Line of Credit Facility [Line Items]
Repayment of lines of credit	$ 1,825,700,000	$ 995,100,000
Capital lease obligation	351,900,000
November 2015 Facilities Agreement
Line of Credit Facility [Line Items]
Facility amount outstanding	4,000,000,000
November 2015 Facility B | November 2015 Facilities Agreement
Line of Credit Facility [Line Items]
Facility amount outstanding	5,600,000,000
Repayment of lines of credit	1,000,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Aggregate amount					$ 2,100,000,000
Swingline Facility					$ 250,000,000
Shire Acquisitions Investment Ireland Designated Activity Company | Senior Notes
Line of Credit Facility [Line Items]
Aggregate amount	12,100,000,000
Deferred financing costs				$ 57,900,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowings under the Facilities Agreement	1,030,000,000		$ 450,000,000
Baxalta
Line of Credit Facility [Line Items]
Aggregate amount	$ 5,000,000,000

Borrowings and Capital Lease (C

Borrowings and Capital Lease (Composition of Credit Facilities) (Details) - November 2015 Facilities Agreement $ in Millions	Nov. 02, 2015USD ($)
Line of Credit Facility [Line Items]
Amount outstanding	$ 4,000
November 2015 Facility A
Line of Credit Facility [Line Items]
Amount outstanding	400
November 2015 Facility B
Line of Credit Facility [Line Items]
Amount outstanding	1,200
November 2015 Facility C
Line of Credit Facility [Line Items]
Amount outstanding	$ 2,400

Retirement and Other Benefit 85

Retirement and Other Benefit Programs (Net Periodic Benefit Cost) (Details) - Baxalta $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
U.S. pensions
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 3.7
Interest cost	3.9
Expected return on plan assets	(4)
Net periodic benefit cost	3.6
International pensions
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	9.4
Interest cost	1.2
Expected return on plan assets	(1.8)
Net periodic benefit cost	8.8
OPEB (U.S.)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.3
Interest cost	0.3
Expected return on plan assets	0
Net periodic benefit cost	$ 0.6

Accumulated Other Comprehensi86

Accumulated Other Comprehensive Loss (Summary of Changes in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
As at January 1,	$ (1,497.6)
Other comprehensive income (loss) before reclassifications	274.7
Amounts reclassified from AOCL	(4.2)
Net current period other comprehensive income / (loss)	270.5
As of March 31,	(1,227.1)
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
As at January 1,	(1,497.6)	$ (183.8)
Net current period other comprehensive income / (loss)	270.5	24.4
As of March 31,	(1,227.1)	(159.4)
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
As at January 1,	(1,505.4)	(182.1)
Other comprehensive income (loss) before reclassifications	265.5
Amounts reclassified from AOCL	0
Net current period other comprehensive income / (loss)	265.5	24.7
As of March 31,	(1,239.9)	(157.4)
Pension and other employee benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
As at January 1,	(5.2)	0
Other comprehensive income (loss) before reclassifications	7.4
Amounts reclassified from AOCL	0
Net current period other comprehensive income / (loss)	7.4	0
As of March 31,	2.2	0
Unrealized holding gain on available-for-sale securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
As at January 1,	6.6	(1.7)
Other comprehensive income (loss) before reclassifications	2.1
Amounts reclassified from AOCL	0
Net current period other comprehensive income / (loss)	2.1	(0.3)
As of March 31,	8.7	(2)
Hedging activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
As at January 1,	6.4	0
Other comprehensive income (loss) before reclassifications	(0.3)
Amounts reclassified from AOCL	(4.2)
Net current period other comprehensive income / (loss)	(4.5)	0
As of March 31,	$ 1.9	$ 0

Accumulated Other Comprehensi87

Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (Reclassifications from Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 1,327	$ 248.6
Income from continuing operations before income taxes and equity in losses of equity method investees	362.4	491.7
Income taxes	(6.8)	(82.1)
Income from continuing operations, net of taxes	354.8	409.5
Hedging activities | Amounts reclassified from AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income from continuing operations before income taxes and equity in losses of equity method investees	6.6	0
Income taxes	(2.4)	0
Income from continuing operations, net of taxes	4.2	0
Foreign Exchange Contract | Hedging activities | Amounts reclassified from AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 6.6	$ 0

Taxation (Details)

Taxation (Details)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Effective Income Tax Rate Reconciliation
Effective rate of tax	2.00%	17.00%

Earnings Per Share (Calculation

Earnings Per Share (Calculation of EPS) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Income from continuing operations, net of taxes	$ 354.8	$ 409.5
Gain from discontinued operations, net of taxes	20.2	9.5
Numerator for basic and diluted earnings per share	$ 375	$ 419
Basic (in shares)	904.1	591.7
Effect of dilutive shares:
Share-based awards to employees (in shares)	7.7	1.6
Diluted (in shares)	911.8	593.3

Earnings Per Share (Summary of

Earnings Per Share (Summary of Antidilutive Securities) (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	7.3	4

Share-based Compensation Plan91

Share-based Compensation Plans (Share-based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 52.7	$ 18.3
Less tax	(13.1)	(4.8)
Share-based compensation expense, net	39.6	13.5
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	6.6	3.1
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	10	11.6
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	31.3	9.2
Integration and acquisition costs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 4.8	$ (5.6)

Share-based Compensation Plan92

Share-based Compensation Plans (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 52.7	$ 18.3
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	9
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	1.8
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	0.6
Integration and acquisition costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4.8	$ (5.6)

Commitments and Contingencies (

Commitments and Contingencies (Leases, and LC and Guarantees ) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Operating Leases, Rent Expense
Lease and rental expense	$ 42.6	$ 7.5
Letters of credit and guarantees
Irrevocable standby letters of credit and guarantees	$ 177.7		$ 139.7

Commitments and Contingencies94

Commitments and Contingencies (Commitments and Loss Contingency) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Clinical Testing
Other Commitments [Line Items]
Commitment amount	$ 1,058.8	$ 1,037.4
Contract Manufacturing
Other Commitments [Line Items]
Commitment amount	322.2	528.9
Commitments expected to be paid in next year	173.3
Other Purchasing Commitment
Other Commitments [Line Items]
Commitment amount	1,923.8	1,745.4
Commitments expected to be paid in next year	1,001.9
Investment Commitment
Other Commitments [Line Items]
Commitment amount	61.6	76.4
Capital Commitment
Other Commitments [Line Items]
Commitment amount	256.2	$ 100.5
Baxter related tax indemnification
Other Commitments [Line Items]
Deferred Tax Assets (Liabilities), Net	$ 25.5

Legal and other proceedings (Na

Legal and other proceedings (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended
	Jan. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Legal Proceedings [Abstract]
Provisions for litigation loss, insurance claims and other disputes		$ 70.7	$ 415
Settlement amount	$ (350)

Agreements and Transactions wit

Agreements and Transactions with Baxter (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Agreements and Transactions by Party [Line Items]
Selling, general and administrative	$ 888.9	$ 474.9
Prepaid expenses and other current assets related indemnification liabilities	142.9
Other non current assets	33.6
Current tax related indemnification liabilities	65.4
Long-term tax related indemnification liabilities	78
Manufacturing and Supply Agreement with Baxter
Agreements and Transactions by Party [Line Items]
Revenue	40.3
Selling, general and administrative	$ 18.9

Segment Reporting (Revenue by P

Segment Reporting (Revenue by Product) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue from External Customer [Line Items]
Product sales	$ 3,412.3	$ 1,627.3
Royalties and Other revenues	160	82
Total revenues	3,572.3	1,709.3
Hematology
Revenue from External Customer [Line Items]
Product sales	870.9	0
HEMOPHILIA
Revenue from External Customer [Line Items]
Product sales	650.4	0
INHIBITOR THERAPIES
Revenue from External Customer [Line Items]
Product sales	220.5	0
Genetic Diseases
Revenue from External Customer [Line Items]
Product sales	696.2	613.3
CINRYZE
Revenue from External Customer [Line Items]
Product sales	225.9	164.2
ELAPRASE
Revenue from External Customer [Line Items]
Product sales	140.6	123.6
FIRAZYR
Revenue from External Customer [Line Items]
Product sales	128.5	128.3
REPLAGAL
Revenue from External Customer [Line Items]
Product sales	109.7	103.2
VPRIV
Revenue from External Customer [Line Items]
Product sales	79.8	83.6
KALBITOR
Revenue from External Customer [Line Items]
Product sales	11.7	10.4
Immunology
Revenue from External Customer [Line Items]
Product sales	676.2	0
IMMUNOGLOBULIN THERAPIES
Revenue from External Customer [Line Items]
Product sales	498.3	0
BIO THERAPEUTICS
Revenue from External Customer [Line Items]
Product sales	177.9	0
Neuroscience
Revenue from External Customer [Line Items]
Product sales	653.3	630.1
VYVANSE
Revenue from External Customer [Line Items]
Product sales	563.7	509.2
ADDERALL XR
Revenue from External Customer [Line Items]
Product sales	64.9	98.8
Other Neuroscience
Revenue from External Customer [Line Items]
Product sales	24.7	22.1
Internal Medicine
Revenue from External Customer [Line Items]
Product sales	418.8	383.9
LIALDA/MEZAVANT
Revenue from External Customer [Line Items]
Product sales	175.1	168
PENTASA
Revenue from External Customer [Line Items]
Product sales	69.1	64
GATTEX/REVESTIVE
Revenue from External Customer [Line Items]
Product sales	69	51.7
NATPARA
Revenue from External Customer [Line Items]
Product sales	29.7	15.6
Other Internal Medicine
Revenue from External Customer [Line Items]
Product sales	75.9	84.6
Oncology
Revenue from External Customer [Line Items]
Product sales	58.3	0
Opthalmology
Revenue from External Customer [Line Items]
Product sales	38.6	0
SENSIPAR Royalties
Revenue from External Customer [Line Items]
Royalties and Other revenues	38.9	37.9
3TC and ZEFFIX Royalties
Revenue from External Customer [Line Items]
Royalties and Other revenues	14.5	15
ADDERALL XR Royalties
Revenue from External Customer [Line Items]
Royalties and Other revenues	12.5	5.8
FOSRENOL Royalties
Revenue from External Customer [Line Items]
Royalties and Other revenues	8.6	9.2
Other Royalties and Revenues
Revenue from External Customer [Line Items]
Royalties and Other revenues	$ 85.5	$ 14.1

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details)	3 Months Ended
	Mar. 31, 2017segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) $ in Millions	May 01, 2017USD ($)
Subsequent Event
Subsequent Event [Line Items]
Upfront license payment	$ 20

Guarantor Financial Informat100

Guarantor Financial Information (Senior Notes) (Details) - Senior Notes	Mar. 31, 2017	Jun. 03, 2016
Senior Notes, 2.0 % due 2018
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)		2.00%
Senior Notes, 2.875% due 2020
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)		2.875%
Senior Notes, 3.6 Percent due 2022
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)		3.60%
Senior Notes, 4.0% due 2025
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)		4.00%
Senior Notes, 5.25% due 2045
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)		5.25%
Shire Acquisitions Investment Ireland Designated Activity Company | Fixed-rate notes due 2019
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	1.90%
Shire Acquisitions Investment Ireland Designated Activity Company | Fixed-rate notes due 2021
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	2.40%
Shire Acquisitions Investment Ireland Designated Activity Company | Fixed-rate notes due 2023
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	2.875%
Shire Acquisitions Investment Ireland Designated Activity Company | Fixed-rate notes due 2026
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	3.20%

Guarantor Financial Informat101

Guarantor Financial Information (Consolidating Balance Sheets) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 369	$ 528.8	$ 69	$ 135.5
Restricted cash	34.1	25.6
Accounts receivable, net	2,579.5	2,616.5
Inventories	3,345.8	3,562.3
Prepaid expenses and other current assets	787.2	806.3
Intercompany receivables	0	0
Short term intercompany loan receivable	0	0
Total current assets	7,115.6	7,539.5
Investments	226.2	191.6
Property, plant and equipment, net	6,496.1	6,469.6
Goodwill	19,149.1	17,888.2	6,881.9	4,147.8
Intangible assets, net	32,834.1	34,697.5	13,715.6	9,173.3
Deferred tax asset	125.5	96.7
Long term intercompany loan receivable	0	0
Other non-current assets	213.5	152.3
Total assets	66,160.1	67,035.4
Current liabilities:
Accounts payable and accrued expenses	3,551.3	4,312.4
Short term borrowings and capital leases	3,049.5	3,068
Intercompany payables	0	0
Short term intercompany loan payable	0	0
Other current liabilities	409.6	362.9
Total current liabilities	7,010.4	7,743.3
Long term borrowings and capital leases	19,495.9	19,899.8
Deferred tax liability	7,752.6	8,322.7
Long term intercompany loans payable	0	0
Other non-current liabilities	2,169.3	2,121.6
Total liabilities	36,428.2	38,087.4
Total equity	29,731.9	28,948
Total liabilities and equity	66,160.1	67,035.4
Eliminations
Current assets:
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Accounts receivable, net	0	0
Inventories	0	0
Prepaid expenses and other current assets	0	0
Intercompany receivables	(5,315.9)	(5,274.9)
Short term intercompany loan receivable	(1,995.1)	(2,594.8)
Total current assets	(7,311)	(7,869.7)
Investments	(83,665.2)	(82,680.5)
Property, plant and equipment, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Deferred tax asset	(271.5)	(273)
Long term intercompany loan receivable	(14,447.6)	(14,911.7)
Other non-current assets	0	0
Total assets	(105,695.3)	(105,734.9)
Current liabilities:
Accounts payable and accrued expenses	0	0
Short term borrowings and capital leases	0	0
Intercompany payables	(5,315.9)	(5,274.9)
Short term intercompany loan payable	(1,995.1)	(2,594.8)
Other current liabilities	0	0
Total current liabilities	(7,311)	(7,869.7)
Long term borrowings and capital leases	0	0
Deferred tax liability	(271.5)	(273)
Long term intercompany loans payable	(14,447.6)	(14,911.7)
Other non-current liabilities	0	0
Total liabilities	(22,030.1)	(23,054.4)
Total equity	(83,665.2)	(82,680.5)
Total liabilities and equity	(105,695.3)	(105,734.9)
Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor)
Current assets:
Cash and cash equivalents	0.3	41.7	0	0
Restricted cash	0	0
Accounts receivable, net	0	0
Inventories	0	0
Prepaid expenses and other current assets	91	97.1
Intercompany receivables	95.9	0
Short term intercompany loan receivable	0	0
Total current assets	187.2	138.8
Investments	34,799.8	34,644.2
Property, plant and equipment, net	28.6	27.4
Goodwill	0	0
Intangible assets, net	0	0
Deferred tax asset	271.5	273
Long term intercompany loan receivable	411.4	480.7
Other non-current assets	33.6	33.8
Total assets	35,732.1	35,597.9
Current liabilities:
Accounts payable and accrued expenses	61.1	20
Short term borrowings and capital leases	0	0
Intercompany payables	0	27.8
Short term intercompany loan payable	0	0
Other current liabilities	75	64.6
Total current liabilities	136.1	112.4
Long term borrowings and capital leases	5,061.4	5,063.7
Deferred tax liability	0	0
Long term intercompany loans payable	0	0
Other non-current liabilities	63.6	61.7
Total liabilities	5,261.1	5,237.8
Total equity	30,471	30,360.1
Total liabilities and equity	35,732.1	35,597.9
Non-Guarantor Non-Issuer Subsidiaries
Current assets:
Cash and cash equivalents	368.7	487.1	69	135.5
Restricted cash	34.1	25.6
Accounts receivable, net	2,579.5	2,616.5
Inventories	3,345.8	3,562.3
Prepaid expenses and other current assets	694.8	707.4
Intercompany receivables	5,172.5	5,154.4
Short term intercompany loan receivable	0	0
Total current assets	12,195.4	12,553.3
Investments	12,607.6	12,571.8
Property, plant and equipment, net	6,467.5	6,442.2
Goodwill	19,149.1	17,888.2
Intangible assets, net	32,834.1	34,697.5
Deferred tax asset	125.5	96.7
Long term intercompany loan receivable	0	0
Other non-current assets	176	114.6
Total assets	83,555.2	84,364.3
Current liabilities:
Accounts payable and accrued expenses	3,481.3	4,205.4
Short term borrowings and capital leases	24.4	23.2
Intercompany payables	0	0
Short term intercompany loan payable	1,995.1	2,594.8
Other current liabilities	334.6	298.3
Total current liabilities	5,835.4	7,121.7
Long term borrowings and capital leases	398.3	405.1
Deferred tax liability	8,024.1	8,595.7
Long term intercompany loans payable	14,447.6	14,301.6
Other non-current liabilities	1,695.8	1,654.6
Total liabilities	30,401.2	32,078.7
Total equity	53,154	52,285.6
Total liabilities and equity	83,555.2	84,364.3
Non-Guarantor Subsidiaries of Baxalta Notes
Current assets:
Cash and cash equivalents	368.7	487.1	69	135.5
Restricted cash	34.1	25.6
Accounts receivable, net	2,579.5	2,616.5
Inventories	3,345.8	3,562.3
Prepaid expenses and other current assets	694.8	707.4
Intercompany receivables	5,220	5,274.9
Short term intercompany loan receivable	1,995.1	2,594.8
Total current assets	14,238	15,268.6
Investments	12,607.6	12,571.8
Property, plant and equipment, net	6,467.5	6,442.2
Goodwill	19,149.1	17,888.2
Intangible assets, net	32,834.1	34,697.5
Deferred tax asset	125.5	96.7
Long term intercompany loan receivable	14,036.2	14,431
Other non-current assets	176	114.6
Total assets	99,634	101,510.6
Current liabilities:
Accounts payable and accrued expenses	3,488.6	4,291.1
Short term borrowings and capital leases	2,019.5	2,618
Intercompany payables	0	0
Short term intercompany loan payable	1,995.1	2,594.8
Other current liabilities	334.6	298.3
Total current liabilities	7,837.8	9,802.2
Long term borrowings and capital leases	14,434.5	14,836.1
Deferred tax liability	8,024.1	8,595.7
Long term intercompany loans payable	14,447.6	14,301.6
Other non-current liabilities	1,695.8	1,654.6
Total liabilities	46,439.8	49,190.2
Total equity	53,194.2	52,320.4
Total liabilities and equity	99,634	101,510.6
Shire plc (Parent Guarantor)
Current assets:
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Accounts receivable, net	0	0
Inventories	0	0
Prepaid expenses and other current assets	1.4	1.8
Intercompany receivables	0	0
Short term intercompany loan receivable	0	0
Total current assets	1.4	1.8
Investments	36,484	35,656.1
Property, plant and equipment, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Deferred tax asset	0	0
Long term intercompany loan receivable	0	0
Other non-current assets	3.9	3.9
Total assets	36,489.3	35,661.8
Current liabilities:
Accounts payable and accrued expenses	1.6	1.3
Short term borrowings and capital leases	1,030	450
Intercompany payables	5,315.9	5,247.1
Short term intercompany loan payable	0	0
Other current liabilities	0	0
Total current liabilities	6,347.5	5,698.4
Long term borrowings and capital leases	0	0
Deferred tax liability	0	0
Long term intercompany loans payable	0	610.1
Other non-current liabilities	409.9	405.3
Total liabilities	6,757.4	6,713.8
Total equity	29,731.9	28,948
Total liabilities and equity	36,489.3	35,661.8
SAIIDAC (SAIIDAC Notes Subsidiary Issuer)
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Restricted cash	0	0
Accounts receivable, net	0	0
Inventories	0	0
Prepaid expenses and other current assets	0	0
Intercompany receivables	47.5	120.5
Short term intercompany loan receivable	1,995.1	2,594.8
Total current assets	2,042.6	2,715.3
Investments	0	0
Property, plant and equipment, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Deferred tax asset	0	0
Long term intercompany loan receivable	14,036.2	14,431
Other non-current assets	0	0
Total assets	16,078.8	17,146.3
Current liabilities:
Accounts payable and accrued expenses	7.3	85.7
Short term borrowings and capital leases	1,995.1	2,594.8
Intercompany payables	0	0
Short term intercompany loan payable	0	0
Other current liabilities	0	0
Total current liabilities	2,002.4	2,680.5
Long term borrowings and capital leases	14,036.2	14,431
Deferred tax liability	0	0
Long term intercompany loans payable	0	0
Other non-current liabilities	0	0
Total liabilities	16,038.6	17,111.5
Total equity	40.2	34.8
Total liabilities and equity	$ 16,078.8	$ 17,146.3

Guarantor Financial Informat102

Guarantor Financial Information (Consolidating Statements of Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Product sales	$ 3,412.3	$ 1,627.3
Royalties and other revenues	160	82
Total revenues	3,572.3	1,709.3
Costs and expenses:
Cost of sales	1,327	248.6
Research and development	379.3	217.1
Selling, general and administrative	888.9	474.9
Amortization of acquired intangible assets	364	134.6
Integration and acquisition costs	116	91.1
Reorganization costs	5.5	3.3
Gain on sale of product rights	(5.5)	(4.2)
Total operating expenses	3,075.2	1,165.4
Operating income from continuing operations	497.1	543.9
Interest (expense) / income, net	(139.2)	(43.7)
Other income, net	4.5	(8.5)
Total other expense, net	(134.7)	(52.2)
Income from continuing operations before income taxes and equity in losses of equity method investees	362.4	491.7
Income taxes	(6.8)	(82.1)
Equity in income/(losses) of equity method investees, net of taxes	0.8	0.1
Income from continuing operations, net of taxes	354.8	409.5
Gain from discontinued operations, net of taxes	20.2	9.5
Net income	375	419
Comprehensive (loss)/income	645.5	443.4
Eliminations
Revenues:
Product sales	0	0
Royalties and other revenues	0	0
Total revenues	0	0
Costs and expenses:
Cost of sales	0	0
Research and development	0	0
Selling, general and administrative	0	0
Amortization of acquired intangible assets	0	0
Integration and acquisition costs	0	0
Reorganization costs	0	0
Gain on sale of product rights	0	0
Total operating expenses	0	0
Operating income from continuing operations	0	0
Interest (expense) / income, net	0	0
Other income, net	0	0
Total other expense, net	0	0
Income from continuing operations before income taxes and equity in losses of equity method investees	0	0
Income taxes	0	0
Equity in income/(losses) of equity method investees, net of taxes	291	457.2
Income from continuing operations, net of taxes	(291)	(457.2)
Gain from discontinued operations, net of taxes	0	0
Net income	(291)	(457.2)
Comprehensive (loss)/income	(806.8)	(481.6)
Shire plc (Parent Guarantor)
Revenues:
Product sales	0	0
Royalties and other revenues	0	0
Total revenues	0	0
Costs and expenses:
Cost of sales	0	0
Research and development	0	0
Selling, general and administrative	14	17
Amortization of acquired intangible assets	0	0
Integration and acquisition costs	0
Reorganization costs	0	0
Gain on sale of product rights	0	0
Total operating expenses	14	17
Operating income from continuing operations	(14)	(17)
Interest (expense) / income, net	(30.3)	(21.9)
Other income, net	0	(0.3)
Total other expense, net	(30.3)	(22.2)
Income from continuing operations before income taxes and equity in losses of equity method investees	(44.3)	(39.2)
Income taxes	1.5	1
Equity in income/(losses) of equity method investees, net of taxes	(417.8)	(457.2)
Income from continuing operations, net of taxes	375	419
Gain from discontinued operations, net of taxes	0	0
Net income	375	419
Comprehensive (loss)/income	645.5	443.4
SAIIDAC (SAIIDAC Notes Subsidiary Issuer)
Revenues:
Product sales	0	0
Royalties and other revenues	0	0
Total revenues	0	0
Costs and expenses:
Cost of sales	0	0
Research and development	0	0
Selling, general and administrative	0	0
Amortization of acquired intangible assets	0	0
Integration and acquisition costs	0	0
Reorganization costs	0	0
Gain on sale of product rights	0	0
Total operating expenses	0	0
Operating income from continuing operations	0	0
Interest (expense) / income, net	5.4	(21.8)
Other income, net	0	0
Total other expense, net	5.4	(21.8)
Income from continuing operations before income taxes and equity in losses of equity method investees	5.4	(21.8)
Income taxes	(1.3)	5.5
Equity in income/(losses) of equity method investees, net of taxes	0	0
Income from continuing operations, net of taxes	4.1	(16.3)
Gain from discontinued operations, net of taxes	0	0
Net income	4.1	(16.3)
Comprehensive (loss)/income	4.1	(16.3)
Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor)
Revenues:
Product sales	0	0
Royalties and other revenues	0	0
Total revenues	0	0
Costs and expenses:
Cost of sales	1.2	0
Research and development	0	0
Selling, general and administrative	5.7	0
Amortization of acquired intangible assets	0	0
Integration and acquisition costs	25.6	0
Reorganization costs	0	0
Gain on sale of product rights	0	0
Total operating expenses	32.5	0
Operating income from continuing operations	(32.5)	0
Interest (expense) / income, net	(21.4)	0
Other income, net	0.5	0
Total other expense, net	(20.9)	0
Income from continuing operations before income taxes and equity in losses of equity method investees	(53.4)	0
Income taxes	(19.9)	0
Equity in income/(losses) of equity method investees, net of taxes	126.8	0
Income from continuing operations, net of taxes	(200.1)	0
Gain from discontinued operations, net of taxes	0	0
Net income	(200.1)	0
Comprehensive (loss)/income	48.7	0
Non-Guarantor Non-Issuer Subsidiaries
Revenues:
Product sales	3,412.3	1,627.3
Royalties and other revenues	160	82
Total revenues	3,572.3	1,709.3
Costs and expenses:
Cost of sales	1,325.8	248.6
Research and development	379.3	217.1
Selling, general and administrative	869.2	457.9
Amortization of acquired intangible assets	364	134.6
Integration and acquisition costs	90.4	91.1
Reorganization costs	5.5	3.3
Gain on sale of product rights	(5.5)	(4.2)
Total operating expenses	3,028.7	1,148.4
Operating income from continuing operations	543.6	560.9
Interest (expense) / income, net	(92.9)	0
Other income, net	4	(8.2)
Total other expense, net	(88.9)	(8.2)
Income from continuing operations before income taxes and equity in losses of equity method investees	454.7	552.7
Income taxes	12.9	(88.6)
Equity in income/(losses) of equity method investees, net of taxes	0.8	0.1
Income from continuing operations, net of taxes	466.8	464
Gain from discontinued operations, net of taxes	20.2	9.5
Net income	487	473.5
Comprehensive (loss)/income	754	497.9
Non-Guarantor Subsidiaries of Baxalta Notes
Revenues:
Product sales	3,412.3	1,627.3
Royalties and other revenues	160	82
Total revenues	3,572.3	1,709.3
Costs and expenses:
Cost of sales	1,325.8	248.6
Research and development	379.3	217.1
Selling, general and administrative	869.2	457.9
Amortization of acquired intangible assets	364	134.6
Integration and acquisition costs	90.4	91.1
Reorganization costs	5.5	3.3
Gain on sale of product rights	(5.5)	(4.2)
Total operating expenses	3,028.7	1,148.4
Operating income from continuing operations	543.6	560.9
Interest (expense) / income, net	(87.5)	(21.8)
Other income, net	4	(8.2)
Total other expense, net	(83.5)	(30)
Income from continuing operations before income taxes and equity in losses of equity method investees	460.1	530.9
Income taxes	11.6	(83.1)
Equity in income/(losses) of equity method investees, net of taxes	0.8	0.1
Income from continuing operations, net of taxes	470.9	447.7
Gain from discontinued operations, net of taxes	20.2	9.5
Net income	491.1	457.2
Comprehensive (loss)/income	$ 758.1	$ 481.6

Guarantor Financial Informat103

Guarantor Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided (used in) operating activities	$ 459.1	$ 389.5
CASH FLOWS FROM INVESTING ACTIVITIES:
Transactions with subsidiaries	0	0
Movements in restricted cash	(8.5)	64.8
Purchases of businesses, net of cash acquired	0	(5,692.8)
Purchases of PP&E and non-current investments	(212.5)	(51.6)
Other, net	1.2	5.5
Net cash used in investing activities	(219.8)	(5,674.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	1,401.9	6,305
Repayment of revolving line of credit, long term and short term borrowings	(1,825.7)	(995.1)
Proceeds from intercompany borrowings	0	0
Debt issuance costs	0	(93.8)
Proceeds from exercise of options	22.1	0.1
Other, net	(0.1)	0.9
Net cash (used in)/provided by financing activities	(401.8)	5,217.1
Effect of foreign exchange rate changes on cash and cash equivalents	2.7	1
Net increase (decrease) in cash and cash equivalents	(159.8)	(66.5)
Cash and cash equivalents at beginning of period	528.8	135.5
Cash and cash equivalents at end of period	369	69
Eliminations
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided (used in) operating activities	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Transactions with subsidiaries	1,604.3	9,630.6
Movements in restricted cash	0	0
Purchases of businesses, net of cash acquired		0
Purchases of PP&E and non-current investments	0	0
Other, net	0	0
Net cash used in investing activities	1,604.3	9,630.6
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	0	0
Repayment of revolving line of credit, long term and short term borrowings	0	0
Proceeds from intercompany borrowings	(1,604.3)	(9,630.6)
Debt issuance costs		0
Proceeds from exercise of options	0	0
Other, net	0	0
Net cash (used in)/provided by financing activities	(1,604.3)	(9,630.6)
Effect of foreign exchange rate changes on cash and cash equivalents	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Shire plc (Parent Guarantor)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided (used in) operating activities	(9.6)	(45.9)
CASH FLOWS FROM INVESTING ACTIVITIES:
Transactions with subsidiaries	(760.6)	(1,900)
Movements in restricted cash	0	0
Purchases of businesses, net of cash acquired		0
Purchases of PP&E and non-current investments	0	0
Other, net	0.3	0
Net cash used in investing activities	(760.3)	(1,900)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	1,400	705
Repayment of revolving line of credit, long term and short term borrowings	(820)	(995)
Proceeds from intercompany borrowings	189.8	2,235.9
Debt issuance costs		0
Proceeds from exercise of options	0.1	0
Other, net	0	0
Net cash (used in)/provided by financing activities	769.9	1,945.9
Effect of foreign exchange rate changes on cash and cash equivalents	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
SAIIDAC (SAIIDAC Notes Subsidiary Issuer)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided (used in) operating activities	(84.1)	(11.5)
CASH FLOWS FROM INVESTING ACTIVITIES:
Transactions with subsidiaries	0	(5,494.7)
Movements in restricted cash	0	0
Purchases of businesses, net of cash acquired		0
Purchases of PP&E and non-current investments	0	0
Other, net	0	0
Net cash used in investing activities	0	(5,494.7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	0	5,600
Repayment of revolving line of credit, long term and short term borrowings	(1,000)	0
Proceeds from intercompany borrowings	1,084.1	0
Debt issuance costs		(93.8)
Proceeds from exercise of options	0	0
Other, net	0	0
Net cash (used in)/provided by financing activities	84.1	5,506.2
Effect of foreign exchange rate changes on cash and cash equivalents	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Baxalta Inc. (Baxalta Notes Subsidiary Issuer and SAIIDAC Notes Subsidiary Guarantor)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided (used in) operating activities	(0.3)	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Transactions with subsidiaries	(110.5)	0
Movements in restricted cash	0	0
Purchases of businesses, net of cash acquired		0
Purchases of PP&E and non-current investments	(2.4)	0
Other, net	2	0
Net cash used in investing activities	(110.9)	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	0	0
Repayment of revolving line of credit, long term and short term borrowings	0	0
Proceeds from intercompany borrowings	69.3	0
Debt issuance costs		0
Proceeds from exercise of options	1.7	0
Other, net	(1.2)	0
Net cash (used in)/provided by financing activities	69.8	0
Effect of foreign exchange rate changes on cash and cash equivalents	0	0
Net increase (decrease) in cash and cash equivalents	(41.4)	0
Cash and cash equivalents at beginning of period	41.7	0
Cash and cash equivalents at end of period	0.3	0
Non-Guarantor Non-Issuer Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided (used in) operating activities	553.1	446.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Transactions with subsidiaries	(733.2)	(2,235.9)
Movements in restricted cash	(8.5)	64.8
Purchases of businesses, net of cash acquired		(5,692.8)
Purchases of PP&E and non-current investments	(210.1)	(51.6)
Other, net	(1.1)	5.5
Net cash used in investing activities	(952.9)	(7,910)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	1.9	0
Repayment of revolving line of credit, long term and short term borrowings	(5.7)	(0.1)
Proceeds from intercompany borrowings	261.1	7,394.7
Debt issuance costs		0
Proceeds from exercise of options	20.3	0.1
Other, net	1.1	0.9
Net cash (used in)/provided by financing activities	278.7	7,395.6
Effect of foreign exchange rate changes on cash and cash equivalents	2.7	1
Net increase (decrease) in cash and cash equivalents	(118.4)	(66.5)
Cash and cash equivalents at beginning of period	487.1	135.5
Cash and cash equivalents at end of period	368.7	69
Non-Guarantor Subsidiaries of Baxalta Notes
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided (used in) operating activities	469	435.4
CASH FLOWS FROM INVESTING ACTIVITIES:
Transactions with subsidiaries	(733.2)	(7,730.6)
Movements in restricted cash	(8.5)	64.8
Purchases of businesses, net of cash acquired		(5,692.8)
Purchases of PP&E and non-current investments	(210.1)	(51.6)
Other, net	(1.1)	5.5
Net cash used in investing activities	(952.9)	(13,404.7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	1.9	5,600
Repayment of revolving line of credit, long term and short term borrowings	(1,005.7)	(0.1)
Proceeds from intercompany borrowings	1,345.2	7,394.7
Debt issuance costs		(93.8)
Proceeds from exercise of options	20.3	0.1
Other, net	1.1	0.9
Net cash (used in)/provided by financing activities	362.8	12,901.8
Effect of foreign exchange rate changes on cash and cash equivalents	2.7	1
Net increase (decrease) in cash and cash equivalents	(118.4)	(66.5)
Cash and cash equivalents at beginning of period	487.1	135.5
Cash and cash equivalents at end of period	$ 368.7	$ 69