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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
Stock-Based Compensation Expense | Stock-based compensation expense is as follows (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2025
Cost of sales |  |  |  |  | $ | 174 |  |  | $ | 148 |
Fulfillment |  |  |  |  | 636 |  |  | 497 |
Technology and infrastructure |  |  |  |  | 2,772 |  |  | 2,060 |
Sales and marketing |  |  |  |  | 932 |  |  | 653 |
General and administrative |  |  |  |  | 447 |  |  | 331 |
Total stock-based compensation expense |  |  |  |  | $ | 4,961 |  |  | $ | 3,689 |
Restricted Stock Unit Activity | The following table summarizes our restricted stock unit activity for the three months ended March 31, 2025 (in millions):
| Number of Units |  | Weighted-Average Grant-Date Fair Value
Outstanding as of December 31, 2024 | 283.1 |  |  | $ | 145 |
Units granted | 8.3 |  |  | 214 |
Units vested | (19.7) |  |  | 137 |
Units forfeited | (8.7) |  |  | 142 |
Outstanding as of March 31, 2025 | 263.0 |  |  | 148 |
Scheduled Vesting for Outstanding Restricted Stock Units | Scheduled vesting for outstanding restricted stock units as of March 31, 2025, is as follows (in millions):
| Nine Months Ended December 31, |  | Year Ended December 31, |  |  |  |
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Scheduled vesting — restricted stock units | 122.9 |  |  | 86.7 |  |  | 35.9 |  |  | 13.9 |  |  | 2.2 |  |  | 1.4 |  |  | 263.0 |
Changes in Stockholders' Equity | The following table shows changes in stockholders’ equity (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2025
Total beginning stockholders’ equity |  |  |  |  | $ | 201,875 |  |  | $ | 285,970 |
Beginning and ending common stock |  |  |  |  | 109 |  |  | 111 |
Beginning and ending treasury stock |  |  |  |  | (7,837) |  |  | (7,837) |
Beginning additional paid-in capital |  |  |  |  | 99,025 |  |  | 120,864 |
Stock-based compensation and issuance of employee benefit plan stock |  |  |  |  | 4,913 |  |  | 3,650 |
Ending additional paid-in capital |  |  |  |  | 103,938 |  |  | 124,514 |
Beginning accumulated other comprehensive income (loss) |  |  |  |  | (3,040) |  |  | (34) |
Other comprehensive income (loss) |  |  |  |  | (558) |  |  | (880) |
Ending accumulated other comprehensive income (loss) |  |  |  |  | (3,598) |  |  | (914) |
Beginning retained earnings |  |  |  |  | 113,618 |  |  | 172,866 |
Net income |  |  |  |  | 10,431 |  |  | 17,127 |
Ending retained earnings |  |  |  |  | 124,049 |  |  | 189,993 |
Total ending stockholders’ equity |  |  |  |  | $ | 216,661 |  |  | $ | 305,867 |

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