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Stock-based Compensation Expense and Share Repurchase Programs
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation Expense and Share Repurchase Programs Stock-based Compensation Expense and Share Repurchase Programs
Stock-based compensation expense
During the three months ended March 31, 2023 and 2022, we recognized the following stock-based compensation expense:
Three Months Ended March 31,
20232022
(in millions)
Stock-based compensation expense by type of award:
Restricted stock units (including PSUs)$115.9 $118.2 
Stock options1.4 5.5 
ESPP share issuances5.5 6.8 
Stock-based compensation expense related to inventories
(0.4)(0.2)
Total stock-based compensation expense included in “Total costs and expenses”
$122.4 $130.3 
Stock-based compensation expense by line item:
Cost of sales$1.9 $2.2 
Research and development expenses76.3 80.4 
Selling, general and administrative expenses44.2 47.7 
Total stock-based compensation expense included in costs and expenses
122.4 130.3 
Income tax effect(40.6)(36.0)
Total stock-based compensation expense, net of tax
$81.8 $94.3 
Share repurchase program
In February 2023, our Board of Directors approved a share repurchase program (our “Share Repurchase Program”), pursuant to which we are authorized to repurchase up to $3.0 billion of our common stock. Our Share Repurchase Program does not have an expiration date and can be discontinued at any time. During the three months ended March 31, 2023, we repurchased 459,017 shares of our common stock under our Share Repurchase Program for an aggregate of $135.6 million. As of March 31, 2023, a total of $2.9 billion remained authorized for future repurchases.