v3.24.2.u1
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Stock-Based Compensation Expense

Total stock-based compensation expense was $304 million and $382 million for the three months ended June 30, 2023 and 2024, and $544 million and $677 million for the six months ended June 30, 2023 and 2024, respectively.
Stock Option and Restricted Stock Unit Activity

A summary of stock option and restricted stock unit (“RSU”) activity under the Company’s equity incentive plans was as follows (in millions, except per share amounts):

Outstanding
Stock Options
Outstanding
RSUs
 Shares
Available for
Grant		Number of
Shares		Weighted-
Average
Exercise
Price		Number of
Shares		Weighted-
Average
Grant
Date Fair
Value
As of December 31, 2023134 7 $71.76 30 $85.35 
Granted(9)— *168.18 9 164.41 
Increase in shares available for grant13 — — 
Options exercised/RSUs vested(1)
2 (1)40.96 (5)122.39 
Canceled1 — *(1)141.81 
As of June 30, 2024141 6 $87.61 33 $98.58 

(1)RSUs vested are net of shares withheld for taxes.
*Shares round to zero and do not change rounded totals.

The Company recorded stock-based compensation expense related to RSUs of $286 million and $358 million for the three months ended June 30, 2023 and 2024, and $509 million and $629 million for the six months ended June 30, 2023 and 2024, respectively.

In May 2023, 11.2 million stock options were exercised in cashless transactions pursuant to which the Company withheld and retired 5.7 million shares of common stock, valued at their fair market value on the exercise date, to cover the related $567 million of employee withholding tax and $36 million of exercise cost.

The following table summarizes options outstanding and exercisable as of June 30, 2024 (in millions):

Number of
Shares		Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic
Value
Options outstanding
6 $87.61 5.85$425 
Options exercisable
5 $71.11 4.95$391 

The Company recorded stock-based compensation expense related to stock options of $11 million and $14 million for the three months ended June 30, 2023 and 2024, and $21 million and $27 million for the six months ended June 30, 2023 and 2024, respectively.

Employee Stock Purchase Plan (“ESPP”)

Activities related to the Company’s ESPP were not material for the three and six months ended June 30, 2023 and 2024.

Restricted Stock Awards (“RSAs”)

Activities related to the Company’s RSAs were not material for the three and six months ended June 30, 2023 and 2024.