v3.26.1
Stock-Based Compensation and Share Repurchase Programs
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation and Share Repurchase Programs
13. Stock-Based Compensation and Share Repurchase Programs

Stock-Based Compensation

The following table presents the components and classification of stock-based compensation expense for the three and six months ended June 30, 2026 and 2025 as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Options
$29 $41 $53 $80 
Restricted Stock Units (RSUs)
85 85 160 156 
Performance Stock Units (PSUs)
4 2 7 3 
Employee Stock Purchase Plan (ESPP)2 2 4 6 
Total
$120 $130 $224 $245 
Cost of sales$13 $7 $16 $14 
Research and development64 81 128 150 
Selling, general and administrative43 42 80 81 
Total
$120 $130 $224 $245 

As of June 30, 2026, there was $831 million of total unrecognized compensation cost related to unvested stock-based compensation with respect to options, RSUs and PSUs granted. That cost is expected to be recognized over a weighted-average period of 2.8 years as of June 30, 2026.

Share Repurchase Programs
As of June 30, 2026, $1.7 billion of our Board of Directors’ authorization for repurchases of our common stock (the 2022 Repurchase Programs) remains outstanding, with no expiration date. There were no shares repurchased during the three and six months ended June 30, 2026 or 2025.