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INCOME TAXES (Tables)

12 Months Ended

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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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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