XML 59 R37.htm IDEA: XBRL DOCUMENT
v3.25.4

Stock-Based Compensation and Share Repurchase Programs (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Options Activity | The following table summarizes our option activity during the year ended December 31, 2025:
|  | Number of Options (in millions) |  | Weighted Average Exercise Price per Share |  |  |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value(1) (in millions)
Outstanding at December 31, 2024 |  | 26.20 |  |  | $ | 59.64 |  |  |  |  | 5.1 years |  | $ | 359 |
Granted |  | 8.91 |  |  | 30.47 |  |  |  |  |  |  |
Exercised |  | (1.22) |  |  | 14.06 |  |  |  |  |  |  |
Canceled/forfeited |  | (6.71) |  |  | 114.24 |  |  |  |  |  |  |
Outstanding at December 31, 2025 |  | 27.18 |  |  | 38.63 |  |  |  |  | 4.8 years |  | 153 |
Exercisable at December 31, 2025 |  | 19.54 |  |  | 38.22 |  |  |  |  | 3.3 years |  | 151 |
Expected to vest at December 31, 2025 |  | 7.64 |  |  | $ | 39.67 |  |  |  |  | 8.7 years |  | $ | 2 |
_______ (1)Aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of common stock for those options in the money as of December 31, 2025.
Schedule of Restricted Common Stock Units Activity | The following table summarizes our RSU and PSU activity during the year ended December 31, 2025:
| Number of Units (in millions) |  | Weighted Average Grant Date Fair Value per Unit |
Outstanding, non-vested at December 31, 2024 | 7.86 |  |  | $ | 91.60 |  |
Issued | 12.67 |  |  | 30.77 |  |
Vested | (6.81) |  |  | 63.70 |  |
Canceled/forfeited | (2.52) |  |  | 60.43 |  |
Outstanding, non-vested at December 31, 2025 | 11.20 |  |  | 46.11 |  |
Schedule of Weighted-Average Assumptions Used to Estimate the Fair Value of Options Granted | The weighted-average assumptions used to estimate the fair value of options granted for the years ended December 31, 2025, 2024, and 2023 were as follows:
|  | Weighted Average
|  | Years Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Options: |  |  |  |  |  |
Risk-free interest rate |  | 4.04 | % |  | 4.28 | % |  | 4.13 | %
Expected term |  | 5.54 years |  | 6.10 years |  | 6.07 years
Expected volatility |  | 66 | % |  | 50 | % |  | 48 | %
Expected dividends |  | — | % |  | — | % |  | — | %
Weighted average fair value per share |  | $ | 18.64 |  |  | $ | 49.76 |  |  | $ | 57.87 |
Schedule of Stock-Based Compensation Expense | The following table presents the components and classification of stock-based compensation expense for the years ended December 31, 2025, 2024, and 2023 (in millions):
| Years Ended December 31,
| 2025 |  | 2024 |  | 2023
Options | $ | 152 |  |  | $ | 163 |  |  | $ | 136 |
RSUs | 314 |  |  | 254 |  |  | 144 |
PSUs | 8 |  |  | 5 |  |  | 17 |
Employee stock purchase plan | 9 |  |  | 7 |  |  | 8 |
Total | $ | 483 |  |  | $ | 429 |  |  | $ | 305 |
Cost of sales | $ | 26 |  |  | $ | 25 |  |  | $ | 37 |
Research and development | 291 |  |  | 264 |  |  | 157 |
Selling, general and administrative | 166 |  |  | 140 |  |  | 111 |
Total | $ | 483 |  |  | $ | 429 |  |  | $ | 305 |
Summary of Share Repurchase Program | The following table summarizes activity related to our share repurchase programs (in millions, except per share data):
|  | Years Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Number of shares repurchased |  | — |  |  | — |  |  | 8
Average price per share(1) |  | $ | — |  |  | $ | — |  |  | $ | 143.26 |
Aggregate purchase price |  | $ | — |  |  | $ | — |  |  | $ | 1,153 |
Remaining authorization at end of period |  | $ | 1,667 |  |  | $ | 1,667 |  |  | $ | 1,667 |
_______ (1)Average price paid per share includes related expenses and excise tax, applicable beginning January 1, 2023.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481520/505-30-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481520/505-30-50-3 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481520/505-30-50-4 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481549/505-30-45-1 + Details
Name: | us-gaap_ScheduleOfTreasuryStockByClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration