v3.24.0.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The components of ”Loss before income taxes” in the Consolidated Statements of Operations are as follows (in millions):

Years Ended December 31,
202120222023
United States$(4,590)$(6,729)$(5,406)
Foreign(98)(19)(25)
Total loss before income taxes$(4,688)$(6,748)$(5,431)
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the provision for income taxes to its components at the United States statutory rate is shown below (in millions):

Years Ended December 31,
202120222023
Federal income tax at statutory rate$(984)$(1,417)$(1,140)
State income taxes(236)(267)(230)
Permanent items8 75 58 
Nondeductible charitable contributions172 — — 
Nondeductible loss on convertible debt118 — — 
Tax credits(63)(264)(202)
Other(3)10 (26)
Valuation allowance988 1,867 1,541 
Provision for income taxes$— $4 $1 
Schedule of Deferred Tax Assets and Liabilities
The components of deferred tax assets and liabilities are as follows (in millions):

December 31, 2022December 31, 2023
Deferred tax assets:
Net operating loss and tax credit carryforwards$2,705 $3,708 
Inventory203 179 
Deferred revenue8 33 
Operating lease liabilities94 101 
Stock-based compensation110 88 
Accrued liabilities29 81 
R&D capitalization369 804 
Other19 53 
Total deferred tax assets3,537 5,047 
Less: valuation allowances(3,325)(4,866)
Total net deferred tax assets212 181 
Deferred tax liabilities:
Property, plant, and equipment(124)(94)
Operating lease assets(81)(86)
Other(6)(1)
Total deferred tax liabilities(211)(181)
Net deferred tax assets$1 $— 
Schedule of Unrecognized Tax Benefits
The Company had the following activity related to unrecognized tax benefits (in millions):

Years Ended December 31,
20222023
Beginning balance$— $38 
Additions for current year tax positions16 15 
Additions for tax positions of prior years22 8 
Ending balance$38 $61