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Income taxes (Tables) | 12 Months Ended
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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 | %

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