Our stock-based compensation expense is associated with restricted stock units, or RSUs, performance stock units that are based on our corporate financial performance targets, or PSUs, performance stock units that are based on market conditions, or market-based PSUs, and our employee stock purchase plan, or ESPP.

Our Condensed Consolidated Statements of Income include stock-based compensation expense, net of amounts allocated to inventory, as follows:


	Three Months Ended
	April 30, 2023		May 1, 2022

	(In millions)
Cost of revenue	$	27	$	38
Research and development	524		384
Sales, general and administrative	184		156
Total	$	735	$	578

The following is a summary of our equity award transactions under our equity incentive plans:


	RSUs, PSUs, and Market-based PSUs Outstanding
	Number of Shares	Weighted Average Grant-Date Fair Value Per Share

	(In millions, except per share data)
Balances, January 29, 2023	45	$	158.45
Granted	2	$	226.08

Vested restricted stock	(6)	$	115.99
Canceled and forfeited	(1)	$	199.37
Balances, April 30, 2023	40	$	167.07

As of April 30, 2023, there was $6.55 billion of aggregate unearned stock-based compensation expense. This amount is expected to be recognized over a weighted average period of 2.5 years for RSUs, PSUs, and market-based PSUs, and 1.1 years for ESPP.