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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Components of Income Tax (Benefit) Expense

The following table presents the components of our income tax expense (benefit) for the periods presented (in millions):

			Year Ended December 31,
			2022						2021						2020
Current income tax expense
State			$	2					$	2					$	—
Foreign			1						—						—
Total current income tax expense			3						2						—
Deferred income tax benefit:
Federal			—						(3)						(7)
State			—						—						(1)
Total deferred income tax benefit			—						(3)						(8)
Total income tax expense (benefit)			$	3					$	(1)					$	(8)

Reconciliation of Federal Statutory Rate and Effective Tax Rate

The following table presents a reconciliation of the federal statutory rate and our effective tax rate for the periods presented:

			Year Ended December 31,
			2022						2021						2020
Tax expense at federal statutory rate			(21.0)		%				(21.0)		%				(21.0)		%
State income taxes, net of federal tax benefit			6.2						8.7						(364.0)
Share-based compensation			13.2						84.1						(2,329.4)
Non-deductible executive compensation			14.3						(7.7)						86.9
Research and development credits			(25.7)						40.8						(393.0)
Other			8.2						(4.9)						(23.2)
Valuation allowance			7.4						(99.3)						2,827.6
Effective tax rate			2.6		%				0.7		%				(216.1)		%

Deferred Tax Assets and Liabilities

The following table presents the significant components of our deferred tax assets and liabilities as of the dates presented (in millions):

			December 31,
			2022						2021
Deferred tax assets:
Federal and state net operating loss carryforwards			$	433					$	524
Research and development credits			164						133
Share-based compensation			102						66
Capitalized research and development			100						—
Lease liability			43						41
Interest expense limitation			28						58
Debt discount on convertible notes			18						—
Accruals and reserves			3						13
Depreciation and amortization			—						1
Inventory			—						69
Other deferred tax assets			5						1
Total deferred tax assets			896						906
Deferred tax liabilities:
Right of use assets			(31)						(32)
Intangible assets			(15)						(22)
Goodwill			(5)						(5)
Depreciation and amortization			(3)						—
Debt discount on convertible notes			—						(60)
Website and software development costs			—						(43)
Total deferred tax liabilities			(54)						(162)
Net deferred tax assets before valuation allowance			842						744
Less: valuation allowance			(843)						(746)
Net deferred tax liabilities			$	(1)					$	(2)

Changes in Unrecognized Tax Benefits

Changes for unrecognized tax benefits for the periods presented are as follows (in millions):

Balance at January 1, 2020			$	40
Gross increases—current period tax positions			9
Balance at December 31, 2020			$	49
Gross increases—current period tax positions			17
Gross increases—prior period tax positions			9
Balance at December 31, 2021			$	75
Gross increases—current period tax positions			17
Gross increases—prior period tax positions			4
Gross decreases—prior period tax positions			(6)
Balance at December 31, 2022			$	90

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