Equity Incentive Plans

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Note 8 – Equity Incentive Plans

Other Performance-Based Grants

2021 Performance-Based Stock Option & Restricted Stock Unit (“RSU”) Awards

During the fourth quarter of 2021, the Compensation Committee of our Board of Directors granted to certain employees performance-based RSUs and stock options to purchase an aggregate 2.2 million shares of our common stock, as adjusted to give effect to the 2022 Stock Split. As of June 30, 2023, we had unrecognized stock-based compensation expense of $140 million, which will be recognized over a weighted-average period of 2.75 years. For the three and six months ended June 30, 2023, we recorded $20 million and $45 million, respectively, of stock-based compensation expense related to this grant, net of forfeitures. For the three and six months ended June 30, 2022, we recorded $34 million and $103 million, respectively, of stock-based compensation expense related to this grant, net of forfeitures.

Summary Stock-Based Compensation Information

The following table summarizes our stock-based compensation expense by line item in the consolidated statements of operations (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Cost of revenues	$	181	$	143	$	373	$	274
Research and development		168		122		302		265
Selling, general and administrative		96		96		188		240
Total	$	445	$	361	$	863	$	779

Our income tax benefits recognized from stock-based compensation arrangements in each of the periods presented were immaterial due to cumulative losses and valuation allowances.