<>
v3.22.4
Income Taxes (Tables)
|
12 Months Ended |
|
Income Tax Disclosure [Abstract] |
|
Schedule of Income before Provision for Income Taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
Domestic |
|
$ |
5,524 |
|
|
$ |
(130 |
) |
|
$ |
(198 |
) |
Noncontrolling interest and redeemable noncontrolling interest |
|
|
31 |
|
|
|
125 |
|
|
|
141 |
|
Foreign |
|
|
8,164 |
|
|
|
6,348 |
|
|
|
1,211 |
|
Income before income taxes |
|
$ |
13,719 |
|
|
$ |
6,343 |
|
|
$ |
1,154 |
|
|
Components of Provision for Income Taxes |
The components of the provision for income taxes for the years ended December 31, 2022, 2021 and 2020 consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
Current: |
|
|
|
|
|
|
|
|
|
Federal |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
State |
|
|
62 |
|
|
|
9 |
|
|
|
4 |
|
Foreign |
|
|
1,266 |
|
|
|
839 |
|
|
|
248 |
|
Total current |
|
|
1,328 |
|
|
|
848 |
|
|
|
252 |
|
Deferred: |
|
|
|
|
|
|
|
|
|
Federal |
|
|
26 |
|
|
|
— |
|
|
|
— |
|
State |
|
|
1 |
|
|
|
— |
|
|
|
— |
|
Foreign |
|
|
(223 |
) |
|
|
(149 |
) |
|
|
40 |
|
Total deferred |
|
|
(196 |
) |
|
|
(149 |
) |
|
|
40 |
|
Total provision for income taxes |
|
$ |
1,132 |
|
|
$ |
699 |
|
|
$ |
292 |
|
|
Schedule of Deferred Tax Assets (Liabilities) |
Deferred tax assets (liabilities) as of December 31, 2022 and 2021 consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
December 31, |
|
|
|
2022 |
|
|
2021 |
|
Deferred tax assets: |
|
|
|
|
|
|
Net operating loss carry-forwards |
|
$ |
4,486 |
|
|
$ |
7,607 |
|
Research and development credits |
|
|
1,184 |
|
|
|
923 |
|
Other tax credits and attributes |
|
|
217 |
|
|
|
335 |
|
Deferred revenue |
|
|
751 |
|
|
|
546 |
|
Inventory and warranty reserves |
|
|
819 |
|
|
|
377 |
|
Stock-based compensation |
|
|
185 |
|
|
|
115 |
|
Operating lease right-of-use liabilities |
|
|
554 |
|
|
|
430 |
|
Capitalized research and development costs |
|
|
693 |
|
|
|
— |
|
Deferred GILTI tax assets |
|
|
466 |
|
|
|
556 |
|
Accruals and others |
|
|
178 |
|
|
|
191 |
|
Total deferred tax assets |
|
|
9,533 |
|
|
|
11,080 |
|
Valuation allowance |
|
|
(7,349 |
) |
|
|
(9,074 |
) |
Deferred tax assets, net of valuation allowance |
|
|
2,184 |
|
|
|
2,006 |
|
Deferred tax liabilities: |
|
|
|
|
|
|
Depreciation and amortization |
|
|
(1,178 |
) |
|
|
(1,279 |
) |
Investment in certain financing funds |
|
|
(238 |
) |
|
|
(209 |
) |
Operating lease right-of-use assets |
|
|
(506 |
) |
|
|
(391 |
) |
Deferred revenue |
|
|
— |
|
|
|
(49 |
) |
Other |
|
|
(15 |
) |
|
|
(13 |
) |
Total deferred tax liabilities |
|
|
(1,937 |
) |
|
|
(1,941 |
) |
Deferred tax assets (liabilities), net of valuation allowance |
|
$ |
247 |
|
|
$ |
65 |
|
|
Schedule of Reconciliation of Taxes at Federal Statutory Rate to Provision for Income Taxes |
The reconciliation of taxes at the federal statutory rate to our provision for income taxes for the years ended December 31, 2022, 2021 and 2020 was as follows (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
Tax at statutory federal rate |
|
$ |
2,881 |
|
|
$ |
1,332 |
|
|
$ |
242 |
|
State tax, net of federal benefit |
|
|
51 |
|
|
|
6 |
|
|
|
4 |
|
Nondeductible executive compensations |
|
|
14 |
|
|
|
201 |
|
|
|
184 |
|
Other nondeductible expenses |
|
|
89 |
|
|
|
67 |
|
|
|
52 |
|
Excess tax benefits related to stock based compensation |
|
|
(745 |
) |
|
|
(7,123 |
) |
|
|
(666 |
) |
Foreign income rate differential |
|
|
(923 |
) |
|
|
(668 |
) |
|
|
33 |
|
U.S. tax credits |
|
|
(276 |
) |
|
|
(328 |
) |
|
|
(181 |
) |
Noncontrolling interests and redeemable noncontrolling interests adjustment |
|
|
42 |
|
|
|
11 |
|
|
|
5 |
|
GILTI inclusion |
|
|
1,279 |
|
|
|
1,008 |
|
|
|
133 |
|
Unrecognized tax benefits |
|
|
252 |
|
|
|
28 |
|
|
|
1 |
|
Change in valuation allowance |
|
|
(1,532 |
) |
|
|
6,165 |
|
|
|
485 |
|
Provision for income taxes |
|
$ |
1,132 |
|
|
$ |
699 |
|
|
$ |
292 |
|
|
Schedule of Changes to Gross Unrecognized Tax Benefits |
The changes to our gross unrecognized tax benefits were as follows (in millions):
|
|
|
|
|
|
|
|
|
December 31, 2019 |
|
$ |
273 |
|
Increases in balances related to prior year tax positions |
|
|
66 |
|
Increases in balances related to current year tax positions |
|
|
41 |
|
December 31, 2020 |
|
|
380 |
|
Increases in balances related to prior year tax positions |
|
|
117 |
|
Decreases in balances related to prior year tax positions |
|
|
(90 |
) |
Increases in balances related to current year tax positions |
|
|
124 |
|
December 31, 2021 |
|
|
531 |
|
Increases in balances related to prior year tax positions |
|
|
136 |
|
Decreases in balances related to prior year tax positions |
|
|
(12 |
) |
Increases in balances related to current year tax positions |
|
|
222 |
|
Decreases in balances related to expiration of the statute of limitations |
|
|
(7 |
) |
December 31, 2022 |
|
$ |
870 |
|
|
X |
- DefinitionTabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.
+ References
+ Details
Name: |
us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.
+ References
+ Details
Name: |
us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.
+ References
+ Details
Name: |
us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of income before income tax between domestic and foreign jurisdictions.
+ References
+ Details
Name: |
us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination.
+ References
+ Details
Name: |
us-gaap_SummaryOfPositionsForWhichSignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
|