Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Income before Income Tax, Domestic and Foreign

The components of income (loss) before income taxes were as follows (in millions):


	Year Ended December 31,
	2021		2022		2023
United States	$	(461)	$	(991)	$	259
Foreign	(2)		(408)		(793)
Loss before income taxes	$	(463)	$	(1,399)	$	(534)

Schedule of Components of Income Tax Expense (Benefit)

The components of provision for (benefit from) income taxes were as follows (in millions):


	Year Ended December 31,
	2021		2022		2023
Current
Federal	$	—	$	—	$	6
State	3		—		9
Foreign	1		4		17
Total	$	4	$	4	$	32
Deferred
Federal	1		—		1
State	1		1		—
Foreign	(1)		(36)		(2)
Total	1		(35)		(1)
Total provision for (benefit from) income taxes	$	5	$	(31)	$	31

Schedule of Effective Income Tax Rate Reconciliation

The items accounting for differences between income taxes computed at the federal statutory rate and the provision (benefit) recorded for income taxes were as follows (in millions):


	Year Ended December 31,
	2021		2022		2023
Income taxes computed at the federal statutory rate	$	(97)	$	(294)	$	(112)
State taxes, net of federal benefits	3		—		7
Tax impact of foreign earnings and losses	1		55		181
Change in valuation allowance	839		179		47
Stock-based compensation	(597)		6		(59)
Research and development credits	(150)		22		(44)
Non-deductible expenses	6		14		9
Other	—		(13)		2
Provision for (benefit from) income taxes	$	5	$	(31)	$	31

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities were as follows (in millions):


	December 31,
	2022		2023
Deferred tax assets

Net operating losses	$	660	$	697
Tax credits	209		245
Capitalized research and development	619		691
Stock-based compensation	74		43
Lease liabilities	115		122
Accruals and reserves	132		234
Other	88		103
Total gross deferred tax assets	1,897		2,135
Less: Valuation allowance	(1,655)		(1,858)
Total deferred tax assets net of valuation allowance	242		277
Deferred tax liabilities
Property and equipment and intangible assets	(134)		(144)
Lease assets	(94)		(98)
Deferred contract costs	(17)		(38)
Total gross deferred tax liabilities	(245)		(280)
Net deferred tax liabilities	$	(3)	$	(3)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending balance of gross unrecognized tax benefits is included in the table below (in millions):


	Year Ended December 31,
	2021		2022		2023
Unrecognized tax benefits at beginning of year	$	7	$	69	$	69
Increases related to current year tax positions	62		19		47
Increases related to prior year tax positions	—		—		67
Decreases related to prior year tax positions	—		(19)		—
Unrecognized tax benefits at end of year	$	69	$	69	$	183