Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Loss Before Provision (Benefit) for Income Taxes

Loss before income tax (benefit) provision for the years ended December 31, 2023, 2022 and 2021 consists of the following:


	Year ended December 31,
	2023		2022		2021
United States	$	(753,105)	$	(1,329,931)	$	(1,391,154)
Foreign	(38,148)		(113,027)		(126,490)
Loss before income tax (benefit) provision	$	(791,253)	$	(1,442,958)	$	(1,517,644)

Summary of Components of the Provision (Benefit) for Income Taxes

The components of the provision (benefit) for income taxes consists of the following:


	Year ended December 31,
	2023		2022		2021
Current:
Federal	$	—	$	—	$	90
State	433		456		514
Foreign	3,888		5,085		23,174
Total current provision	4,321		5,541		23,778
Deferred:
Federal	205		(52,411)		(5,523)
State	2,643		(17,624)		(2,075)
Foreign	3,001		(3,372)		(7,911)
Total deferred (benefit) provision	5,849		(73,407)		(15,509)
Total income tax (benefit) provision	$	10,170	$	(67,866)	$	8,269

Summary of Reconciliation

The reconciliation between income taxes computed at the U.S. statutory income tax rate to our provision for income taxes for the years ended December 31, 2023, 2022 and 2021 is as follows:


	Year ended December 31,
	2023		2022		2021
Benefit for income taxes at 21% rate	$	(166,217)	$	(303,028)	$	(318,705)
Prior year provision true-ups	1,321		938		(16,878)
State taxes, net of federal benefit	(40,385)		(17,265)		(142,119)
Internal restructurings	—		—		(167,692)
Stock-based compensation (benefit) expense	26,155		28,015		(70,150)
Non-deductible lobbying expenses	1,009		4,788		9,938
Change in valuation allowance	130,817		166,978		575,225
Non-deductible executive compensation	30,106		54,925		117,849
(Gain) loss on remeasurement of warrant liabilities	12,084		(6,173)		(6,301)
Foreign rate differential	3,348		1,802		16,588
Income tax reserves	4,119		(553)		5,098
Other	7,813		1,707		5,416
Total income tax provision (benefit)	$	10,170	$	(67,866)	$	8,269

Summary of Components of Deferred Tax Assets (Liabilities)

Significant components of the Company’s deferred tax assets (liabilities) as of December 31, 2023 and 2022 are as follows:


	Year ended December 31,
	2023		2022
Deferred tax assets:
Net operating loss carryforwards	$	1,042,874	$	961,352
Intangible assets	82,813		72,299
Accrual and other temporary differences	59,656		57,281
Operating lease	24,784		18,213
Stock-based compensation	51,065		93,582
Capitalized research and development costs	128,719		61,584
Fixed assets	2,451		411
Gross deferred tax assets	1,392,362		1,264,722
Valuation allowance	(1,358,934)		(1,228,117)
Net deferred tax assets	$	33,428	$	36,605

Deferred tax liabilities:
Capitalized software costs	$	(4,535)	$	(7,529)
Fixed assets	(162)		(3,590)
Operating lease	(25,528)		(16,102)
Other	(7,798)		(7,943)
Gross deferred tax liabilities	(38,023)		(35,164)
Total net deferred tax (liabilities) assets	$	(4,595)	$	1,441

Summary of Reconciliation of Unrecognized Tax Benefits

The following table presents a reconciliation of the total amounts of unrecognized tax benefits, excluding interest and penalties, included in long-term income tax liabilities on the Company’s consolidated balance sheets:


	Year ended December 31,
	2023		2022		2021
Unrecognized tax benefits at the beginning of the year	$	58,011	$	72,407	$	70,341
Additions for tax positions of prior years	1,026		1,807		—
Reduction for tax positions of prior years	(269)		—		—
Additions for tax positions of current year	449		—		—
Settlements	—		(7,412)		—
Foreign currency adjustments	(1,793)		(8,791)		2,066
Unrecognized tax benefits at the end of the year	$	57,424	$	58,011	$	72,407