Stock options are generally vested in full upon grant date and exercisable for the full ten-year contractual term regardless of employment status. Stock options granted to certain named executive officers vest on the one-year anniversary of the grant date, subject to the employee’s continuous employment or service with the Company through the vesting date.


	Options Outstanding
	Number of Shares	Weighted- Average Exercise Price (per share)
Balances as of December 31, 2023	19,695,109	$	268.86
Granted	465,641	583.66
Exercised	(3,384,520)	157.18
Expired	(4,324)	56.72
Balances as of September 30, 2024	16,771,906	$	300.20
Vested and expected to vest as of September 30, 2024	16,771,906	$	300.20
Exercisable as of September 30, 2024	16,694,821	$	299.59

The Company grants time-based restricted stock unit (“RSU”) awards and performance-based restricted stock unit (“PSU”) awards to certain executive officers. RSU awards vest quarterly over a three-year period subject to the executive’s continued employment or service with the Company through the vesting date. PSU awards have performance periods ranging from one to three years and vest depending on the Company’s achievement of predetermined market-based performance targets.

In March 2021, the Company’s Board of Directors authorized the repurchase of up to $5 billion of its common stock, with no expiration date, and in September 2023, the Board of Directors increased the share repurchase authorization by an additional $10 billion, also with no expiration date. Stock repurchases may be effected through open market repurchases in compliance with Rule 10b-18 under the Exchange Act, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act, privately-negotiated transactions, accelerated stock repurchase plans, block purchases, or other similar purchase techniques and in such amounts as management deems appropriate. The Company is not obligated to repurchase any specific number of shares, and the timing and actual number of shares repurchased will depend on a variety of factors, including the Company’s stock price, general economic, business and market conditions, and alternative investment opportunities. The Company may discontinue any repurchases of its common stock at any time without prior notice. During the three and nine months ended September 30, 2024, the Company repurchased 2,551,039 and 8,696,108 shares, respectively, for an aggregate amount of $1.7 billion and $5.3 billion, respectively. As of September 30, 2024, $3.1 billion remains available for repurchases. Shares repurchased by the Company are accounted for when the transaction is settled. As of September 30, 2024, there were no unsettled share repurchases. Direct costs incurred to acquire the shares are included in the total cost of the shares.


	Foreign Currency Translation Adjustments		Net Investment Hedge Gains (Losses)		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges		Change in Unrealized Gains (Losses) on AFS Securities		Tax (Expense) Benefit		Total
	(in thousands)
Balances as of June 30, 2024	$	(249,600)	$	(3,400)	$	211,631	$	—	$	—	$	(47,745)	$	(89,114)
Other comprehensive income (loss) before reclassifications	95,802		(42,000)		(369,805)		(10,175)		5,566		95,479		(225,133)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		(48,481)		9,069		—		9,037		(30,375)
Net change in accumulated other comprehensive income (loss)	95,802		(42,000)		(418,286)		(1,106)		5,566		104,516		(255,508)
Balances as of September 30, 2024	$	(153,798)	$	(45,400)	$	(206,655)	$	(1,106)	$	5,566	$	56,771	$	(344,622)


	Foreign Currency Translation Adjustments		Net Investment Hedge Gains (Losses)		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges		Change in Unrealized Gains (Losses) on AFS Securities		Tax (Expense) Benefit		Total
	(in thousands)
Balances as of December 31, 2023	$	(103,922)	$	—	$	(155,730)	$	—	$	—	$	35,707	$	(223,945)
Other comprehensive income (loss) before reclassifications	(49,876)		(45,400)		19,883		(10,175)		5,566		6,908		(73,094)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		(70,808)		9,069		—		14,156		(47,583)
Net change in accumulated other comprehensive income (loss)	(49,876)		(45,400)		(50,925)		(1,106)		5,566		21,064		(120,677)
Balances as of September 30, 2024	$	(153,798)	$	(45,400)	$	(206,655)	$	(1,106)	$	5,566	$	56,771	$	(344,622)


	Foreign Currency Translation Adjustments		Net Investment Hedge Gains (Losses)		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges		Change in Unrealized Gains (Losses) on AFS Securities		Tax (Expense) Benefit		Total
	(in thousands)
Balances as of June 30, 2023	$	(139,266)	$	—	$	—	$	—	$	—	$	—	$	(139,266)
Other comprehensive income (loss) before reclassifications	(94,157)		—		101,169		—		—		(23,317)		(16,305)

Net change in accumulated other comprehensive income (loss)	(94,157)		—		101,169		—		—		(23,317)		(16,305)
Balances as of September 30, 2023	$	(233,423)	$	—	$	101,169	$	—	$	—	$	(23,317)	$	(155,571)


	Foreign Currency Translation Adjustments		Net Investment Hedge Gains (Losses)		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges		Change in Unrealized Gains (Losses) on AFS Securities		Tax (Expense) Benefit		Total
	(in thousands)
Balances as of December 31, 2022	$	(217,306)	$	—	$	—	$	—	$	—	$	—	$	(217,306)
Other comprehensive income (loss) before reclassifications	(16,117)		—		101,169		—		—		(23,317)		61,735

Net change in accumulated other comprehensive income (loss)	(16,117)		—		101,169		—		—		(23,317)		61,735
Balances as of September 30, 2023	$	(233,423)	$	—	$	101,169	$	—	$	—	$	(23,317)	$	(155,571)


	Three Months Ended
	September 30, 2024
	Revenues		Cost of Revenues		Interest and other income (expense)		Provision for Income Taxes		Total Reclassifications
	(in thousands)
Gains (losses) on derivatives in cash flow hedging relationship
Foreign exchange contracts
Amount of gains (losses) reclassified from AOCI	$	48,184	$	297	$	—	$	(11,116)	$	37,365
Gains (losses) on derivatives in fair value hedging relationship
Foreign exchange contracts
Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach	—		—		(9,069)		2,079		(6,990)
Total	$	48,184	$	297	$	(9,069)	$	(9,037)	$	30,375


	Nine Months Ended
	September 30, 2024
	Revenues		Cost of Revenues		Interest and other income (expense)		Provision for Income Taxes		Total Reclassifications
	(in thousands)
Gains (losses) on derivatives in cash flow hedging relationship
Foreign exchange contracts
Amount of gains (losses) reclassified from AOCI	$	70,244	$	564	$	—	$	(16,235)	$	54,573
Gains (losses) on derivatives in fair value hedging relationship
Foreign exchange contracts
Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach	—		—		(9,069)		2,079		(6,990)
Total	$	70,244	$	564	$	(9,069)	$	(14,156)	$	47,583