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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Stockholders' Equity | STOCKHOLDERS’ EQUITY Preferred Stock We have authorized 500 million shares of $0.01 par value preferred stock. No preferred stock was outstanding for any year presented. Common Stock Common shares outstanding plus shares underlying outstanding stock awards totaled 10.6 billion, 10.8 billion, and 10.9 billion, as of December 31, 2022, 2023, and 2024. These totals include all vested and unvested stock awards outstanding, including those awards we estimate will be forfeited. 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. We repurchased 46.2 million shares of our common stock for $6.0 billion in 2022. There were no repurchases of common stock in 2023 or 2024. As of December 31, 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 Stock-based compensation expense is as follows (in millions):
| Year Ended December 31,
| 2022 |  | 2023 |  | 2024
Cost of sales | $ | 757 |  |  | $ | 836 |  |  | $ | 838 |
Fulfillment | 2,745 |  |  | 3,090 |  |  | 2,973 |
Technology and infrastructure | 10,621 |  |  | 13,434 |  |  | 12,150 |
Sales and marketing | 3,875 |  |  | 4,623 |  |  | 4,084 |
General and administrative | 1,623 |  |  | 2,040 |  |  | 1,966 |
Total stock-based compensation expense (1) | $ | 19,621 |  |  | $ | 24,023 |  |  | $ | 22,011 |
___________________ (1)The related tax benefits were $4.3 billion, $5.4 billion, and $5.0 billion for 2022, 2023, and 2024. The following table summarizes our restricted stock unit activity (in millions):
| Number of Units |  | Weighted Average Grant-Date Fair Value
Outstanding as of January 1, 2022 | 279.9 |  |  | $ | 134 |
Units granted | 262.8 |  |  | 142 |
Units vested | (113.3) |  |  | 114 |
Units forfeited | (45.0) |  |  | 143 |
Outstanding as of December 31, 2022 | 384.4 |  |  | 144 |
Units granted | 218.1 |  |  | 106 |
Units vested | (139.9) |  |  | 143 |
Units forfeited | (56.8) |  |  | 135 |
Outstanding as of December 31, 2023 | 405.8 |  |  | 125 |
Units granted | 126.9 |  |  | 183 |
Units vested | (209.7) |  |  | 132 |
Units forfeited | (39.9) |  |  | 133 |
Outstanding as of December 31, 2024 | 283.1 |  |  | 145 |
Scheduled vesting for outstanding restricted stock units as of December 31, 2024, is as follows (in millions):
| Year Ended |  |  |  |
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Scheduled vesting — restricted stock units | 146.0 |  |  | 88.5 |  |  | 34.3 |  |  | 11.5 |  |  | 1.4 |  |  | 1.4 |  |  | 283.1 |
As of December 31, 2024, there was $16.2 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, 2022, 2023, and 2024 was 26.5%, 26.1%, and 25.6%. During 2022, 2023, and 2024, the fair value of restricted stock units that vested was $12.8 billion, $17.6 billion, and $39.6 billion. Common Stock Available for Future Issuance As of December 31, 2024, common stock available for future issuance to employees is 1.5 billion shares.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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