Income taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income before income taxes included the following (in millions):

	Years ended December 31,
	2024		2023		2022
Domestic	$	4,040	$	4,047	$	3,026
Foreign	569		3,808		4,320
Total income before income taxes	$	4,609	$	7,855	$	7,346

Schedule of Provision for Income Taxes

The provision for income taxes included the following (in millions):

	Years ended December 31,
	2024		2023		2022
Current provision:
Federal	$	965	$	1,524	$	1,721
State	33		43		44
Foreign	759		786		304
Total current provision	1,757		2,353		2,069
Deferred benefit:
Federal	(860)		(1,124)		(1,185)
State	(18)		(25)		(27)
Foreign	(360)		(66)		(63)
Total deferred benefit	(1,238)		(1,215)		(1,275)
Total provision for income taxes	$	519	$	1,138	$	794

Schedule of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities were as follows (in millions):

	December 31,
	2024		2023
Deferred income tax assets:
NOL and credit carryforwards	$	1,352	$	1,465
Accrued expenses	693		668
Capitalized research and development expenses	1,762		1,333
Investments	1		—
Expenses capitalized for tax	200		210
Earnings of foreign subsidiaries	1,496		1,260
Stock-based compensation	130		159
Other	361		416
Total deferred income tax assets	5,995		5,511
Valuation allowance	(1,019)		(957)
Net deferred income tax assets	4,976		4,554
Deferred income tax liabilities:
Acquired intangible assets	(2,573)		(3,028)
Debt	(264)		(268)
Fixed assets	(143)		(140)
Fair value of acquired inventory	(114)		(349)
Investments	—		(99)
Other	(244)		(224)
Total deferred income tax liabilities	(3,338)		(4,108)
Total deferred income taxes, net	$	1,638	$	446

Schedule of Reconciliation of Total Gross Amounts of UTBs

The reconciliations of the total gross amounts of UTBs were as follows (in millions):

	Years ended December 31,
	2024		2023		2022
Beginning balance	$	4,012	$	3,770	$	3,546
Additions based on tax positions related to the current year	188		196		151
Additions based on tax positions related to prior years	9		56		90
Reductions for tax positions of prior years	(12)		—		(14)
Reductions for expiration of statute of limitations	(9)		(4)		(3)
Settlements	(4)		(6)		—
Ending balance	$	4,184	$	4,012	$	3,770

Schedule of Reconciliation of Federal Statutory Tax Rate

The reconciliations between the federal statutory tax rate applied to income before income taxes and our effective tax rate were as follows:

	Years ended December 31,
	2024		2023		2022
Federal statutory tax rate	21.0	%	21.0	%	21.0	%
Foreign earnings	(5.8)	%	(5.1)	%	(5.6)	%
Foreign-derived intangible income	(3.0)	%	(1.3)	%	(1.3)	%
Credits, Puerto Rico excise tax	—	%	0.3	%	(2.8)	%
Interest on uncertain tax positions	4.2	%	2.6	%	1.9	%
Credits, primarily federal R&D	(5.4)	%	(3.5)	%	(2.0)	%
Other, net	0.3	%	0.5	%	(0.4)	%
Effective tax rate	11.3	%	14.5	%	10.8	%