v3.25.4
Income taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred income tax assets:    
NOL and credit carryforwards $ 1,368 $ 1,352
Accrued expenses 890 693
Capitalized research and development expenses 1,655 1,762
Investments 0 1
Expenses capitalized for tax 218 200
Earnings of foreign subsidiaries 2,305 1,496
Stock-based compensation 138 130
Other 349 361
Total deferred income tax assets 6,923 5,995
Valuation allowance (1,299) (1,019)
Net deferred income tax assets 5,624 4,976
Deferred income tax liabilities:    
Acquired intangible assets (2,065) (2,573)
Debt (260) (264)
Fixed assets (192) (143)
Fair value of acquired inventory (28) (114)
Investments (422) 0
Other (271) (244)
Total deferred income tax liabilities (3,238) (3,338)
Total deferred income taxes, net $ 2,386 $ 1,638