Description of Business, Accounting Policies, and Supplemental Disclosures (Tables)

12 Months Ended

Dec. 31, 2023

The following table shows supplemental cash flow information (in millions):


	Year Ended December 31,
	2021		2022		2023
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest	$	1,098	$	1,561	$	2,608
Cash paid for operating leases	$	6,722	$	8,633	$	10,453
Cash paid for interest on finance leases	$	521	$	374	$	308
Cash paid for interest on financing obligations	$	153	$	207	$	196
Cash paid for income taxes, net of refunds	$	3,688	$	6,035	$	11,179
Assets acquired under operating leases	$	25,369	$	18,800	$	14,052
Property and equipment acquired under finance leases, net of remeasurements and modifications	$	7,061	$	675	$	642
Property and equipment recognized during the construction period of build-to-suit lease arrangements	$	5,846	$	3,187	$	357
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating	$	230	$	5,158	$	1,374

The following table shows the calculation of diluted shares (in millions):


	Year Ended December 31,
	2021	2022	2023
Shares used in computation of basic earnings per share	10,117	10,189	10,304
Total dilutive effect of outstanding stock awards	179	—	188
Shares used in computation of diluted earnings per share	10,296	10,189	10,492

Other income (expense), net, is as follows (in millions):


	Year Ended December 31,
	2021		2022		2023
Marketable equity securities valuation gains (losses)	$	11,526	$	(13,870)	$	984
Equity warrant valuation gains (losses)	1,315		(2,132)		26
Upward adjustments relating to equity investments in private companies	1,866		76		40
Foreign currency gains (losses)	(55)		(340)		65
Other, net	(19)		(540)		(177)
Total other income (expense), net	$	14,633	$	(16,806)	$	938

Required summarized financial information of Rivian as disclosed in its most recent SEC filings is as follows (in millions):