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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income before Provision for Income Taxes | Our income before (benefit from) provision for income taxes for the years ended December 31, 2023, 2022 and 2021 was as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Domestic | $ | 3,196 |  |  | $ | 5,524 |  |  | $ | (130) |
Noncontrolling interest and redeemable noncontrolling interest | (23) |  |  | 31 |  |  | 125 |
Foreign | 6,800 |  |  | 8,164 |  |  | 6,348 |
Income before income taxes | $ | 9,973 |  |  | $ | 13,719 |  |  | $ | 6,343 |
Components of Provision for Income Taxes | The components of the (benefit from) provision for income taxes for the years ended December 31, 2023, 2022 and 2021 consisted of the following (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | 48 |  |  | $ | — |  |  | $ | — |
State | 57 |  |  | 62 |  |  | 9 |
Foreign | 1,243 |  |  | 1,266 |  |  | 839 |
Total current | 1,348 |  |  | 1,328 |  |  | 848 |
Deferred: |  |  |  |  |
Federal | (5,246) |  |  | 26 |  |  | — |
State | (653) |  |  | 1 |  |  | — |
Foreign | (450) |  |  | (223) |  |  | (149) |
Total deferred | (6,349) |  |  | (196) |  |  | (149) |
Total (Benefit from) provision for income taxes | $ | (5,001) |  |  | $ | 1,132 |  |  | $ | 699 |
Schedule of Reconciliation of Taxes at Federal Statutory Rate to Provision for Income Taxes | The reconciliation of taxes at the federal statutory rate to our (benefit from) provision for income taxes for the years ended December 31, 2023, 2022 and 2021 was as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Tax at statutory federal rate | $ | 2,094 |  |  | $ | 2,881 |  |  | $ | 1,332 |
State tax, net of federal benefit | (372) |  |  | 51 |  |  | 6 |
Nondeductible executive compensation | 23 |  |  | 14 |  |  | 201 |
Excess tax benefits related to stock-based compensation | (288) |  |  | (745) |  |  | (7,123) |
Nontaxable manufacturing credit | (101) |  |  | — |  |  | — |
Foreign income rate differential | (816) |  |  | (923) |  |  | (668) |
U.S. tax credits | (593) |  |  | (276) |  |  | (328) |
GILTI inclusion | 670 |  |  | 1,279 |  |  | 1,008 |
Unrecognized tax benefits | 183 |  |  | 252 |  |  | 28 |
Change in valuation allowance | (5,962) |  |  | (1,532) |  |  | 6,165 |
Other | 161 |  |  | 131 |  |  | 78 |
(Benefit from) provision for income taxes | $ | (5,001) |  |  | $ | 1,132 |  |  | $ | 699 |
Schedule of Deferred Tax Assets (Liabilities) | Deferred tax assets (liabilities) as of December 31, 2023 and 2022 consisted of the following (in millions):
| December 31, 2023 |  | December 31, 2022
Deferred tax assets: |  |  |
Net operating loss carry-forwards | $ | 2,826 |  |  | $ | 4,486 |
Research and development credits | 1,358 |  |  | 1,184 |
Other tax credits and attributes | 827 |  |  | 217 |
Deferred revenue | 1,035 |  |  | 751 |
Inventory and warranty reserves | 1,258 |  |  | 819 |
Stock-based compensation | 230 |  |  | 185 |
Operating lease right-of-use liabilities | 930 |  |  | 554 |
Capitalized research and development costs | 1,344 |  |  | 693 |
Deferred GILTI tax assets | 760 |  |  | 466 |
Accruals and others | 206 |  |  | 178 |
Total deferred tax assets | 10,774 |  |  | 9,533 |
Valuation allowance | (892) |  |  | (7,349) |
Deferred tax assets, net of valuation allowance | 9,882 |  |  | 2,184 |
Deferred tax liabilities: |  |  |
Depreciation and amortization | (2,122) |  |  | (1,178) |
Investment in certain financing funds | (133) |  |  | (238) |
Operating lease right-of-use assets | (859) |  |  | (506) |
Other | (116) |  |  | (15) |
Total deferred tax liabilities | (3,230) |  |  | (1,937) |
Deferred tax assets (liabilities), net of valuation allowance | $ | 6,652 |  |  | $ | 247 |
Schedule of Changes to Gross Unrecognized Tax Benefits | The changes to our gross unrecognized tax benefits were as follows (in millions):
December 31, 2020 | $ | 380 |
Increases in balances related to prior year tax positions | 117 |
Decreases in balances related to prior year tax positions | (90) |
Increases in balances related to current year tax positions | 124 |
December 31, 2021 | 531 |
Increases in balances related to prior year tax positions | 136 |
Decreases in balances related to prior year tax positions | (12) |
Increases in balances related to current year tax positions | 222 |
Decreases in balances related to expiration of the statute of limitations | (7) |
December 31, 2022 | 870 |
Increases in balances related to prior year tax positions | 59 |
Decreases related to settlement with tax authorities | (6) |
Increases in balances related to current year tax positions | 255 |
Decreases in balances related to expiration of the statute of limitations | (4) |
December 31, 2023 | $ | 1,174 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 + Details
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