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

9 Months Ended

Sep. 30, 2023

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,
	2023		2022		2023		2022

	(in millions)
Stock-based compensation expense by type of award:
Restricted stock units (including PSUs)	$	129.1	$	130.3	$	358.6	$	351.5
Stock options	0.2		3.1		4.0		14.9
ESPP share issuances	2.4		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 expenses	81.1		80.0		231.9		229.9
Selling, general and administrative expenses	48.1		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