STOCKHOLDERS' EQUITY (DEFICIT) |
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| STOCKHOLDERS' EQUITY (DEFICIT) | 7. STOCKHOLDERS’ EQUITY (DEFICIT) Common Stock Repurchases Our Board of Directors has approved a program for us to repurchase shares of our common stock. As of February 29, 2024, approximately $7.1 billion remained available for stock repurchases pursuant to our stock repurchase program. We repurchased 9.4 million shares for $1.1 billion during the nine months ended February 29, 2024 and 15.4 million shares for $1.1 billion during the nine months ended February 28, 2023 under the stock repurchase program. Our stock repurchase authorization does not have an expiration date and the pace of our repurchase activity will depend on factors such as our working capital needs, our cash requirements for acquisitions and dividend payments, our debt repayment obligations or repurchases of our debt, our stock price and economic and market conditions. Our stock repurchases may be effected from time to time through open market purchases or pursuant to a Rule 10b5-1 trading plan. Our stock repurchase program may be accelerated, suspended, delayed or discontinued at any time. Dividends on Common Stock In March 2024, our Board of Directors declared a quarterly cash dividend of $0.40 per share of our outstanding common stock. The dividend is payable on April 24, 2024 to stockholders of record as of the close of business on April 10, 2024. Future declarations of dividends and the establishment of future record and payment dates are subject to the final determination of our Board of Directors. Fiscal 2024 Stock‑Based Awards Activity and Compensation Expense During the first nine months of fiscal 2024, we issued 46 million stock-based awards, substantially all of which were restricted stock-based units (RSUs) issued as a part of our annual stock-based award process, which are subject to service-based vesting restrictions. These fiscal 2024 stock-based award issuances were partially offset by stock-based award forfeitures and cancellations of 6 million shares during the first nine months of fiscal 2024. The RSUs that were granted during the nine months ended February 29, 2024 have similar vesting restrictions and contractual lives and were valued using methodologies of a similar nature as those described in Note 12 of Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2023. Stock-based compensation expense is included in the following operating expense line items in our condensed consolidated statements of operations:
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