Amazon.com 2015 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2015 Amazon.com annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 90

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90

62
Note 8—STOCKHOLDERS’ EQUITY
Preferred Stock
We have authorized 500 million shares of $0.01 par value preferred stock. No preferred stock was outstanding for any
period presented.
Common Stock
Common shares outstanding plus shares underlying outstanding stock awards totaled 490 million, 483 million, and 476
million, as of December 31, 2015, 2014, and 2013. These totals include all vested and unvested stock awards outstanding,
including those awards we estimate will be forfeited.
Stock Repurchase Activity
In January 2010, our Board of Directors authorized the Company to repurchase up to $2.0 billion of our common stock
with no fixed expiration. We have $763 million remaining under the $2.0 billion repurchase program.
Stock Award Plans
Employees vest in restricted stock unit awards and stock options over the corresponding service term, generally between
two and five years.
Stock Award Activity
Stock options outstanding, which were primarily obtained through acquisitions, totaled 0.2 million, 0.4 million and 0.2
million, as of December 31, 2015, 2014, and 2013. The compensation expense for stock options, the total intrinsic value for
stock options outstanding, the amount of cash received from the exercise of stock options, and the related tax benefits were not
material for 2015, 2014, and 2013.
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, 2013 15.4 $ 184
Units granted 7.2 283
Units vested (4.5) 160
Units forfeited (1.8) 209
Outstanding as of December 31, 2013 16.3 233
Units granted 8.5 328
Units vested (5.1) 202
Units forfeited (2.3) 264
Outstanding as of December 31, 2014 17.4 285
Units granted 9.8 426
Units vested (5.6) 253
Units forfeited (2.7) 321
Outstanding as of December 31, 2015 18.9 $ 362
Scheduled vesting for outstanding restricted stock units as of December 31, 2015, is as follows (in millions):
Year Ended December 31,
2016 2017 2018 2019 2020 Thereafter Total
Scheduled vesting—restricted stock units 6.4 7.0 3.6 1.6 0.1 0.2 18.9
As of December 31, 2015, there was $3.1 billion of net unrecognized compensation cost related to unvested stock-based
compensation arrangements. This compensation is recognized on an accelerated basis with approximately half of the
compensation expected to be expensed in the next twelve months, and has a weighted-average recognition period of 1.1 years.