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Stockholders' Equity
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Stock Repurchase Activity
In March 2022, the Board of Directors authorized a program to repurchase up to $10.0 billion of our common stock, with no fixed expiration, which replaced the previous $5.0 billion stock repurchase authorization, approved by the Board of Directors in February 2016. We repurchased 46.2 million shares of our common stock for $6.0 billion during the nine months ended September 30, 2022 under these programs. There were no repurchases of our common stock during the nine months ended September 30, 2023. As of September 30, 2023, we have $6.1 billion remaining under the repurchase program.
Stock Award Activity
Common shares outstanding plus shares underlying outstanding stock awards totaled 10.6 billion and 10.8 billion as of December 31, 2022 and September 30, 2023. These totals include all vested and unvested stock awards outstanding, including those awards we estimate will be forfeited. Stock-based compensation expense is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202320222023
Cost of sales$190 $193 $549 $609 
Fulfillment727 732 1,988 2,267 
Technology and infrastructure3,036 3,284 7,495 9,901 
Sales and marketing1,128 1,111 2,783 3,407 
General and administrative475 509 1,200 1,520 
Total stock-based compensation expense$5,556 $5,829 $14,015 $17,704 
The following table summarizes our restricted stock unit activity for the nine months ended September 30, 2023 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2022384.4 $144 
Units granted210.9 105 
Units vested(87.4)141 
Units forfeited(45.8)137 
Outstanding as of September 30, 2023462.1 128 
Scheduled vesting for outstanding restricted stock units as of September 30, 2023, is as follows (in millions):
 Three Months Ended December 31,Year Ended December 31,  
 20232024202520262027ThereafterTotal
Scheduled vesting — restricted stock units52.7 221.2 127.0 48.4 9.7 3.1 462.1 
As of September 30, 2023, there was $23.3 billion of net unrecognized compensation cost related to unvested stock-based compensation arrangements. This compensation is recognized on an accelerated basis with more than half of the compensation expected to be expensed in the next twelve months, and has a remaining weighted-average recognition period of 0.9 years. The estimated forfeiture rate as of December 31, 2022 and September 30, 2023 was 26.5% and 26.3%. Changes in our estimates and assumptions relating to forfeitures may cause us to realize material changes in stock-based compensation expense in the future.
Changes in Stockholders’ Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202320222023
Total beginning stockholders’ equity$131,402 $168,602 $138,245 $146,043 
Beginning common stock107 108 106 108 
Stock-based compensation and issuance of employee benefit plan stock— — 1 — 
Ending common stock107 108 107 108 
Beginning treasury stock(7,837)(7,837)(1,837)(7,837)
Common stock repurchased— — (6,000)— 
Ending treasury stock(7,837)(7,837)(7,837)(7,837)
Beginning additional paid-in capital63,871 86,896 55,437 75,066 
Stock-based compensation and issuance of employee benefit plan stock5,548 5,815 13,982 17,645 
Ending additional paid-in capital69,419 92,711 69,419 92,711 
Beginning accumulated other comprehensive income (loss)(4,782)(3,680)(1,376)(4,487)
Other comprehensive income (loss)(2,333)(1,323)(5,739)(516)
Ending accumulated other comprehensive income (loss)(7,115)(5,003)(7,115)(5,003)
Beginning retained earnings80,043 93,115 85,915 83,193 
Net income (loss)2,872 9,879 (3,000)19,801 
Ending retained earnings82,915 102,994 82,915 102,994 
Total ending stockholders’ equity$137,489 $182,973 $137,489 $182,973