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Stock-based Compensation Expense and Share Repurchase Programs
 9 Months Ended
Sep. 30, 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 and nine months ended September 30, 2023 and 2022, we recognized the following stock-based compensation expense:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(in millions)
Stock-based compensation expense by type of award:
Restricted stock units (including PSUs)$129.1 $130.3 $358.6 $351.5 
Stock options0.2 3.1 4.0 14.9 
ESPP share issuances2.4 1.9 11.8 13.0 
Stock-based compensation expense related to inventories
(0.8)0.3 (1.8)0.4 
Total stock-based compensation expense included in “Total costs and expenses”
$130.9 $135.6 $372.6 $379.8 
Stock-based compensation expense by line item:
Cost of sales$1.7 $2.4 $5.4 $7.0 
Research and development expenses81.1 80.0 231.9 229.9 
Selling, general and administrative expenses48.1 53.2 135.3 142.9 
Total stock-based compensation expense included in costs and expenses
130.9 135.6 372.6 379.8 
Income tax effect(37.1)(38.8)(109.0)(101.3)
Total stock-based compensation expense, net of tax
$93.8 $96.8 $263.6 $278.5 
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 nine months ended September 30, 2023, we repurchased 891,060 shares of our common stock under our Share Repurchase Program for an aggregate of $284.1 million. As of September 30, 2023, a total of $2.7 billion remained authorized for future repurchases.