Amount remaining under 2019 Share Repurchase Program

[Table of Contents](#ie9658fba2baf4e3799b1175f69eaed46_7)BIOGEN INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(unaudited, continued)$3.2 million upon the extinguishment of such 2045 Senior Notes. This charge, which was recognized in interest expense in other income (expense), net in our condensed consolidated statements of income for the three months ended March 31, 2021, reflects the payment of an early call premium and the write-off of the remaining unamortized original debt issuance costs and discount balances associated with such 2045 Senior Notes.Upon settlement, we also made aggregate cash payments of approximately $13.8 million to settle all accrued and unpaid interest from the last interest payment date on our 2045 Senior Notes that were exchanged or redeemed. We incurred approximately $6.1 million of costs associated with our Exchange Offer, which was recognized in interest expense in other income (expense), net in our condensed consolidated statements of income for the three months ended March 31, 2021.11.    EQUITY Share RepurchasesIn October 2020 our Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock (2020 Share Repurchase Program). Our 2020 Share Repurchase Program does not have an expiration date. All share repurchases under our 2020 Share Repurchase Program will be retired. Under our 2020 Share Repurchase Program, we repurchased and retired approximately 2.2 million shares of our common stock at a cost of approximately $600.0 million during the three months ended March 31, 2021. There were no share repurchases of our common stock during the three months ended March 31, 2022. Approximately $2.8 billion remained available under our 2020 Share Repurchase Program as of March 31, 2022.Accumulated Other Comprehensive Income (Loss)The following tables summarize the changes in accumulated other comprehensive income (loss), net of tax by component:

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| (In millions) |  | Unrealized Gains (Losses) on Securities Available for Sale, Net of Tax |  | Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax |  | Gains (Losses) on Net Investment Hedge, Net of Tax |  | Unfunded Status of Postretirement Benefit Plans, Net of Tax |  | Currency Translation Adjustments |  | Total |
| Balance, December 31, 2021 |  | $ | (2.2) |  |  | $ | 53.8  |  |  | $ | 25.5  |  |  | $ | (44.8) |  |  | $ | (139.0) |  |  | $ | (106.7) |  |
| Other comprehensive income (loss) before reclassifications |  | (10.2) |  |  | 34.4  |  |  | 5.1  |  |  | 0.9  |  |  | (21.8) |  |  | 8.4  |  |
| Amounts reclassified from accumulated other comprehensive income (loss) |  | 0.5  |  |  | (18.5) |  |  | 1.1  |  |  | —  |  |  | —  |  |  | (16.9) |  |
| Net current period other comprehensive income (loss) |  | (9.7) |  |  | 15.9  |  |  | 6.2  |  |  | 0.9  |  |  | (21.8) |  |  | (8.5) |  |
| Balance, March 31, 2022 |  | $ | (11.9) |  |  | $ | 69.7  |  |  | $ | 31.7  |  |  | $ | (43.9) |  |  | $ | (160.8) |  |  | $ | (115.2) |  |



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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (In millions) |  | Unrealized Gains (Losses) on Securities Available for Sale, Net of Tax |  | Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax |  | Gains (Losses) on Net Investment Hedge, Net of Tax |  | Unfunded Status of Postretirement Benefit Plans, Net of Tax |  | Currency Translation Adjustments |  | Total |
| Balance, December 31, 2020 |  | $ | 1.4  |  |  | $ | (179.0) |  |  | $ | (8.5) |  |  | $ | (66.3) |  |  | $ | (46.6) |  |  | $ | (299.0) |  |
| Other comprehensive income (loss) before reclassifications |  | (1.2) |  |  | 128.6  |  |  | 22.4  |  |  | 2.0  |  |  | (48.5) |  |  | 103.3  |  |
| Amounts reclassified from accumulated other comprehensive income (loss) |  | 0.4  |  |  | 21.0  |  |  | —  |  |  | —  |  |  | —  |  |  | 21.4  |  |
| Net current period other comprehensive income (loss) |  | (0.8) |  |  | 149.6  |  |  | 22.4  |  |  | 2.0  |  |  | (48.5) |  |  | 124.7  |  |
| Balance, March 31, 2021 |  | $ | 0.6  |  |  | $ | (29.4) |  |  | $ | 13.9  |  |  | $ | (64.3) |  |  | $ | (95.1) |  |  | $ | (174.3) |  |

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