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 three months ended March 31, 2025 or 2026. As of March 31, 2026, we have $6.1 billion remaining under the repurchase program.

Employees vest in restricted stock unit awards over the corresponding service term, generally between two and five years. The majority of outstanding restricted stock unit awards are granted at the date of hire or in Q2 as part of the annual compensation review and primarily vest quarterly in the relevant compensation year.

Common shares outstanding plus shares underlying outstanding stock awards totaled 11.0 billion and 10.9 billion as of December 31, 2025 and March 31, 2026. 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):

As of March 31, 2026, there was $14.4 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 one year.


	Three Months Ended March 31,
	2025		2026
Total beginning stockholders’ equity	$	285,970	$	411,065

Beginning common stock	111		112
Stock-based compensation and issuance of employee benefit plan stock	—		1
Ending common stock	111		113



Beginning and ending treasury stock	(7,837)		(7,837)

Beginning additional paid-in capital	120,864		140,024
Stock-based compensation and issuance of employee benefit plan stock	3,650		3,955
Ending additional paid-in capital	124,514		143,979

Beginning accumulated other comprehensive income (loss)	(34)		28,230
Other comprehensive income (loss)	(880)		(3,362)
Ending accumulated other comprehensive income (loss)	(914)		24,868

Beginning retained earnings	172,866		250,536

Net income	17,127		30,255
Ending retained earnings	189,993		280,791

Total ending stockholders’ equity	$	305,867	$	441,914

The following table summarizes the changes in “Accumulated other comprehensive income (loss)” by separate components (in millions):


	Three Months Ended March 31,
	2025		2026
Total beginning accumulated other comprehensive income (loss), net of tax of $(1,762) and $(9,384)	$	(34)	$	28,230


Foreign currency translation adjustments:
Beginning balance, net of tax of $292 and $98	(6,174)		(1,948)
Foreign currency translation adjustments, net of tax of $(66) and $(13)	1,535		(764)
Ending balance, net of tax of $226 and $85	(4,639)		(2,712)




Unrealized gains (losses) on net investment hedging instruments:
Beginning balance, net of tax of $0 and $0	—		—
Change in net unrealized gains (losses), net of tax of $0 and $24	—		(85)
Ending balance, net of tax of $0 and $24	—		(85)




Unrealized gains (losses) on available-for-sale debt securities:
Beginning balance, net of tax of $(2,054) and $(9,481)	6,139		30,170
Change in net unrealized gains (losses), net of tax of $(11) and $(340)	37		826
Reclassification adjustments for net losses (gains) included in “Other income (expense), net,” net of tax of $809 and $1,142	(2,454)		(3,337)
Ending balance, net of tax of $(1,256) and $(8,679)	3,722		27,659





Other:
Beginning balance, net of tax of $0 and $(1)	1		8
Other, net of tax of $1 and $(2)	2		(2)
Ending balance, net of tax of $1 and $(3)	3		6




Total ending accumulated other comprehensive income (loss), net of tax of $(1,029) and $(8,573)	$	(914)	$	24,868