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

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense by Line Item

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
	(in millions)
Stock-based compensation expense by type of award:
Restricted stock units (including PSUs)	$	190.8	$	184.8	$	517.1	$	522.7
ESPP share issuances	8.5		3.4		21.2		13.7
Stock options	—		—		1.2		1.8
Stock-based compensation expense related to inventories	(4.4)		(3.6)		(11.2)		(7.5)
Total stock-based compensation expense included in “Total costs and expenses”	$	194.9	$	184.6	$	528.3	$	530.7
Stock-based compensation expense by line item:
Cost of sales	$	2.8	$	1.9	$	7.9	$	5.5
Research and development expenses	116.0		111.0		315.7		327.5
Selling, general and administrative expenses	76.1		71.7		204.7		197.7
Total stock-based compensation expense included in “Total costs and expenses”	194.9		184.6		528.3		530.7
Income tax effect	(47.5)		(64.6)		(159.2)		(224.3)
Total stock-based compensation expense, net of tax	$	147.4	$	120.0	$	369.1	$	306.4