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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
Stock-Based Compensation Expense | Stock-based compensation expense is as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2025 |  | 2024 |  | 2025
Cost of sales | $ | 266 |  |  | $ | 250 |  |  | $ | 440 |  |  | $ | 398 |
Fulfillment | 944 |  |  | 880 |  |  | 1,580 |  |  | 1,377 |
Technology and infrastructure | 3,670 |  |  | 3,655 |  |  | 6,442 |  |  | 5,715 |
Sales and marketing | 1,224 |  |  | 1,207 |  |  | 2,156 |  |  | 1,860 |
General and administrative | 618 |  |  | 542 |  |  | 1,065 |  |  | 873 |
Total stock-based compensation expense | $ | 6,722 |  |  | $ | 6,534 |  |  | $ | 11,683 |  |  | $ | 10,223 |
Restricted Stock Unit Activity | The following table summarizes our restricted stock unit activity for the six months ended June 30, 2025 (in millions):
| Number of Units |  | Weighted-Average Grant-Date Fair Value
Outstanding as of December 31, 2024 | 283.1 |  |  | $ | 145 |
Units granted | 94.9 |  |  | 195 |
Units vested | (67.7) |  |  | 132 |
Units forfeited | (18.6) |  |  | 148 |
Outstanding as of June 30, 2025 | 291.7 |  |  | 164 |
Scheduled Vesting for Outstanding Restricted Stock Units | Scheduled vesting for outstanding restricted stock units as of June 30, 2025, is as follows (in millions):
| Six Months Ended December 31, |  | Year Ended December 31, |  |  |  |
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Scheduled vesting — restricted stock units | 72.3 |  |  | 114.7 |  |  | 70.5 |  |  | 26.7 |  |  | 5.5 |  |  | 2.0 |  |  | 291.7 |
Changes in Stockholders' Equity | The following table shows changes in stockholders’ equity (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2025 |  | 2024 |  | 2025
Total beginning stockholders’ equity | $ | 216,661 |  |  | $ | 305,867 |  |  | $ | 201,875 |  |  | $ | 285,970 |
Beginning common stock | 109 |  |  | 111 |  |  | 109 |  |  | 111 |
Stock-based compensation and issuance of employee benefit plan stock | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Ending common stock | 110 |  |  | 112 |  |  | 110 |  |  | 112 |
Beginning and ending treasury stock | (7,837) |  |  | (7,837) |  |  | (7,837) |  |  | (7,837) |
Beginning additional paid-in capital | 103,938 |  |  | 124,514 |  |  | 99,025 |  |  | 120,864 |
Stock-based compensation and issuance of employee benefit plan stock | 6,695 |  |  | 6,409 |  |  | 11,608 |  |  | 10,059 |
Ending additional paid-in capital | 110,633 |  |  | 130,923 |  |  | 110,633 |  |  | 130,923 |
Beginning accumulated other comprehensive income (loss) | (3,598) |  |  | (914) |  |  | (3,040) |  |  | (34) |
Other comprehensive income (loss) | (395) |  |  | 3,334 |  |  | (953) |  |  | 2,454 |
Ending accumulated other comprehensive income (loss) | (3,993) |  |  | 2,420 |  |  | (3,993) |  |  | 2,420 |
Beginning retained earnings | 124,049 |  |  | 189,993 |  |  | 113,618 |  |  | 172,866 |
Net income | 13,485 |  |  | 18,164 |  |  | 23,916 |  |  | 35,291 |
Ending retained earnings | 137,534 |  |  | 208,157 |  |  | 137,534 |  |  | 208,157 |
Total ending stockholders’ equity | $ | 236,447 |  |  | $ | 333,775 |  |  | $ | 236,447 |  |  | $ | 333,775 |

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