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Stock-Based Compensation and Share Repurchase Programs | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation and Share Repurchase Programs | 12. Stock-Based Compensation and Share Repurchase Programs Stock-Based Compensation The following table presents the components and classification of stock-based compensation expense for the three and six months ended June 30, 2024 and 2023 as follows (in millions):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Options |  | $ | 40 |  |  | $ | 34 |  |  | $ | 80 |  |  | $ | 70 |
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) |  | 70 |  |  | 37 |  |  | 128 |  |  | 74 |
Employee Stock Purchase Plan (ESPP) |  | 2 |  |  | 3 |  |  | 5 |  |  | 5 |
Total |  | $ | 112 |  |  | $ | 74 |  |  | $ | 213 |  |  | $ | 149 |
Cost of sales |  | $ | 6 |  |  | $ | 16 |  |  | $ | 13 |  |  | $ | 21 |
Research and development |  | 67 |  |  | 33 |  |  | 127 |  |  | 75 |
Selling, general and administrative |  | 39 |  |  | 25 |  |  | 73 |  |  | 53 |
Total |  | $ | 112 |  |  | $ | 74 |  |  | $ | 213 |  |  | $ | 149 |
As of June 30, 2024, there was $1.0 billion of total unrecognized compensation cost related to unvested stock-based compensation with respect to options, RSUs and PSUs granted. That cost is expected to be recognized over a weighted-average period of 2.8 years as of June 30, 2024. Share Repurchase Programs As of June 30, 2024, $1.7 billion of our Board of Directors’ authorization for repurchases of our common stock (the 2022 Repurchase Programs) remains outstanding, with no expiration date. The timing and actual number of shares repurchased under the 2022 Repurchase Programs will depend on a variety of factors, including price, general business and market conditions, and other investment opportunities, and shares may be repurchased through open market purchases through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. During the three and six months ended June 30, 2024, there were no shares repurchased.

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