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Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Reconciliation of the (Benefit) Provision for Income Taxes

A reconciliation of the provision (benefit) for income taxes to the amounts computed by applying the statutory federal income tax rate to income (loss) before income taxes is as follows for the periods presented:

 

 

Six months ended June 30,

 

 

 

2024

 

 

2023

 

 

 

(in millions)

 

Income tax expense (benefit) at the federal statutory rate

 

$

5

 

 

$

6

 

State income taxes, net of effect of federal tax benefit

 

 

2

 

 

 

3

 

Unrecognized tax benefits and related interest

 

 

1

 

 

 

4

 

Stock-based compensation

 

 

4

 

 

 

6

 

Research tax credit

 

 

(2

)

 

 

(1

)

Change in valuation allowance

 

 

(2

)

 

 

5

 

IRS audit settlement

 

 

45

 

 

 

31

 

Transfer pricing reserves adjustment

 

 

(4

)

 

 

24

 

Other, net

 

 

8

 

 

 

—

 

Provision (benefit) for income taxes

 

$

57

 

 

$

78