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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Provision | The following table summarizes the components of the Company’s provision for income taxes for the periods presented (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Current income tax expense: |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  | $ | — |
State | 1 |  |  | 2 |  |  | 1 |
Total current income tax expense | 1 |  |  | 2 |  |  | 1 |
Income Tax Provision | $ | 1 |  |  | $ | 2 |  |  | $ | 1 |
Schedule of Effective Income Tax Rate Reconciliation | The following table presents a reconciliation of the U.S. federal statutory income tax rates to the Company’s effective income tax rate for the periods presented:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
U. S. Federal tax benefit at statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit | 5.8 |  |  | 2.7 |  |  | 3.4 |
Non-deductible expenses and other | (1.1) |  |  | (1.2) |  |  | (0.4) |
Non-deductible warrant expenses | — |  |  | — |  |  | 0.4 |
Share-based compensation | (6.6) |  |  | (1.7) |  |  | 7.0 |
Deduction limitation on executive compensation | (0.5) |  |  | (0.3) |  |  | (14.1) |
Change in valuation allowance, net | (20.6) |  |  | (21.4) |  |  | (19.5) |
Research and development credits | 1.5 |  |  | 0.5 |  |  | 2.0 |
Effective tax rate | (0.5) | % |  | (0.4) | % |  | (0.2) | %
Schedule of Deferred Tax Assets and Liabilities | Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income taxes purposes. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022, are as follows (in millions):
| December 31, 2023 |  | December 31, 2022
Deferred tax assets: |  |  |
Accruals and reserves | $ | 17 |  |  | $ | 128 |
Inventory | 31 |  |  | 34 |
Tax credits | 47 |  |  | 41 |
Lease Liabilities | 6 |  |  | 11 |
Section 174 capitalization | 81 |  |  | 50 |
Goodwill | 8 |  |  | 8 |
Net operating loss | 541 |  |  | 404 |
Total deferred tax assets | 731 |  |  | 676 |
Less: Valuation allowance | (718) |  |  | (664) |
Deferred tax assets, net of valuation allowance | 13 |  |  | 12 |
Deferred tax liabilities: |  |  |
Depreciation and amortization | (7) |  |  | (2) |
Right-of-use assets | (6) |  |  | (10) |
Deferred tax liabilities | (13) |  |  | (12) |
Net deferred tax assets and liabilities | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Unrecognized tax benefits as of the beginning of the year | $ | 20 |  |  | $ | 15 |  |  | $ | 6 |
Increase related to current year tax provisions | 2 |  |  | 5 |  |  | 9 |
Unrecognized tax benefits as of the end of the year | $ | 22 |  |  | $ | 20 |  |  | $ | 15 |

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