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Stockholders' Equity
 9 Months Ended
Sep. 30, 2024
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. There were no repurchases of our common stock during the nine months ended September 30, 2023 or 2024. As of September 30, 2024, we have $6.1 billion remaining under the repurchase program.
Stock Award Plans
Employees vest in restricted stock unit awards over the corresponding service term, generally between two and five years. The majority of restricted stock unit awards are granted at the date of hire or in Q2 as part of the annual compensation review and primarily vest semi-annually in Q2 and Q4 of the relevant compensation year.
Stock Award Activity
Common shares outstanding plus shares underlying outstanding stock awards totaled 10.8 billion and 10.9 billion as of December 31, 2023 and September 30, 2024. 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,
2023202420232024
Cost of sales$193 $193 $609 $633 
Fulfillment732 696 2,267 2,276 
Technology and infrastructure3,284 2,961 9,901 9,403 
Sales and marketing1,111 1,012 3,407 3,168 
General and administrative509 471 1,520 1,536 
Total stock-based compensation expense$5,829 $5,333 $17,704 $17,016 
The following table summarizes our restricted stock unit activity for the nine months ended September 30, 2024 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2023405.8 $125 
Units granted115.4 180 
Units vested(127.8)133 
Units forfeited(31.9)131 
Outstanding as of September 30, 2024361.5 139 
Scheduled vesting for outstanding restricted stock units as of September 30, 2024, is as follows (in millions):
 Three Months Ended December 31,Year Ended December 31,  
 20242025202620272028ThereafterTotal
Scheduled vesting — restricted stock units82.2 147.8 88.8 31.3 8.4 3.0 361.5 
As of September 30, 2024, there was $18.9 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 1.0 year. The estimated forfeiture rate as of December 31, 2023 and September 30, 2024 was 26.1% and 25.7%.
Changes in Stockholders’ Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Total beginning stockholders’ equity$168,602 $236,447 $146,043 $201,875 
Beginning common stock108 110 108 109 
Stock-based compensation and issuance of employee benefit plan stock— — — 1 
Ending common stock108 110 108 110 
Beginning and ending treasury stock(7,837)(7,837)(7,837)(7,837)
Beginning additional paid-in capital86,896 110,633 75,066 99,025 
Stock-based compensation and issuance of employee benefit plan stock5,815 5,301 17,645 16,909 
Ending additional paid-in capital92,711 115,934 92,711 115,934 
Beginning accumulated other comprehensive income (loss)(3,680)(3,993)(4,487)(3,040)
Other comprehensive income (loss)(1,323)2,075 (516)1,122 
Ending accumulated other comprehensive income (loss)(5,003)(1,918)(5,003)(1,918)
Beginning retained earnings93,115 137,534 83,193 113,618 
Net income9,879 15,328 19,801 39,244 
Ending retained earnings102,994 152,862 102,994 152,862 
Total ending stockholders’ equity$182,973 $259,151 $182,973 $259,151