Stock-based Compensation Expense and Share Repurchase Programs (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense by Line Item

During the three and six months ended June 30, 2025 and 2024, we recognized the following stock-based compensation expense:

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(in millions)
Stock-based compensation expense by type of award:
Restricted stock units (including PSUs)	$	162.9	$	150.7	$	326.3	$	337.9
ESPP share issuances	7.1		4.5		12.7		10.3
Stock options	1.2		1.8		1.2		1.8
Stock-based compensation expense related to inventories	(3.9)		(2.8)		(6.8)		(3.9)
Total stock-based compensation expense included in “Total costs and expenses”	$	167.3	$	154.2	$	333.4	$	346.1
Stock-based compensation expense by line item:
Cost of sales	$	2.5	$	1.8	$	5.1	$	3.6
Research and development expenses	99.6		97.1		199.7		216.5
Selling, general and administrative expenses	65.2		55.3		128.6		126.0
Total stock-based compensation expense included in “Total costs and expenses”	167.3		154.2		333.4		346.1
Income tax effect	(36.5)		(80.7)		(111.7)		(159.7)
Total stock-based compensation expense, net of tax	$	130.8	$	73.5	$	221.7	$	186.4