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Stockholders' Equity
 6 Months Ended
Jun. 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 six months ended June 30, 2023 or 2024. As of June 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 June 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
June 30,		Six Months Ended
June 30,
2023202420232024
Cost of sales$251 $266 $416 $440 
Fulfillment932 944 1,535 1,580 
Technology and infrastructure4,043 3,670 6,617 6,442 
Sales and marketing1,303 1,224 2,296 2,156 
General and administrative598 618 1,011 1,065 
Total stock-based compensation expense$7,127 $6,722 $11,875 $11,683 
The following table summarizes our restricted stock unit activity for the six months ended June 30, 2024 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2023405.8 $125 
Units granted105.0 180 
Units vested(107.3)132 
Units forfeited(23.0)130 
Outstanding as of June 30, 2024380.5 138 
Scheduled vesting for outstanding restricted stock units as of June 30, 2024, is as follows (in millions):
 Six Months Ended December 31,Year Ended December 31,  
 20242025202620272028ThereafterTotal
Scheduled vesting — restricted stock units104.4 149.3 88.7 28.8 6.1 3.2 380.5 
As of June 30, 2024, there was $22.1 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 June 30, 2024 was 26.1% and 25.8%.
Changes in Stockholders’ Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2023202420232024
Total beginning stockholders’ equity$154,526 $216,661 $146,043 $201,875 
Beginning common stock108 109 108 109 
Stock-based compensation and issuance of employee benefit plan stock— 1 — 1 
Ending common stock108 110 108 110 
Beginning and ending treasury stock(7,837)(7,837)(7,837)(7,837)
Beginning additional paid-in capital79,863 103,938 75,066 99,025 
Stock-based compensation and issuance of employee benefit plan stock7,033 6,695 11,830 11,608 
Ending additional paid-in capital86,896 110,633 86,896 110,633 
Beginning accumulated other comprehensive income (loss)(3,973)(3,598)(4,487)(3,040)
Other comprehensive income (loss)293 (395)807 (953)
Ending accumulated other comprehensive income (loss)(3,680)(3,993)(3,680)(3,993)
Beginning retained earnings86,365 124,049 83,193 113,618 
Net income6,750 13,485 9,922 23,916 
Ending retained earnings93,115 137,534 93,115 137,534 
Total ending stockholders’ equity$168,602 $236,447 $168,602 $236,447