Stock-based Compensation Expense and Share Repurchase Programs (Tables)

6 Months Ended

Jun. 30, 2023

During the three and six months ended June 30, 2023 and 2022, we recognized the following stock-based compensation expense:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in millions)
Stock-based compensation expense by type of award:
Restricted stock units (including PSUs)	$	113.6	$	103.0	$	229.5	$	221.2
Stock options	2.4		6.3		3.8		11.8
ESPP share issuances	3.9		4.3		9.4		11.1
Stock-based compensation expense related to inventories	(0.6)		0.3		(1.0)		0.1
Total stock-based compensation expense included in “Total costs and expenses”	$	119.3	$	113.9	$	241.7	$	244.2

Stock-based compensation expense by line item:
Cost of sales	$	1.8	$	2.4	$	3.7	$	4.6
Research and development expenses	74.5		69.5		150.8		149.9
Selling, general and administrative expenses	43.0		42.0		87.2		89.7
Total stock-based compensation expense included in costs and expenses	119.3		113.9		241.7		244.2
Income tax effect	(31.3)		(26.5)		(71.9)		(62.5)
Total stock-based compensation expense, net of tax	$	88.0	$	87.4	$	169.8	$	181.7