v3.25.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Reserved and Shares Available for Grant As of December 31, 2025, shares reserved and available for issuance under the equity compensation plans were as follows (in thousands):
Shares reservedShares available for grant
2004 Purchase Plan5,392 2,058 
2020 Equity Incentive Plan5,899 4,488 
Schedule of Disclosures for 2004 Purchase Plan
We provide the following disclosures for the 2004 Purchase Plan as of December 31 (shares in thousands):
202520242023
Weighted-average purchase price per share$679.57 $626.35 $572.59 
Weighted-average grant date fair value per award for shares purchased$220.49 $204.93 $206.83 
Number of shares purchased139 148 152 
Schedule of Assumptions in Computation of Fair Value
We use the Black-Scholes option-pricing model to determine the fair value of shares under the 2004 Purchase Plan with the following assumptions during the years ended December 31:
202520242023
Range of dividend yield
2.07% - 2.14%
1.98% - 2.10%
1.69% - 1.78%
Range of risk-free interest rate
3.73% - 4.35%
3.89% - 5.27%
4.57% - 5.30%
Range of expected volatility
20.52% - 32.67%
21.31% - 29.82%
26.02% - 34.93%
Weighted-average expected volatility26.59 %26.88 %30.48 %
Weighted-average expected life (in years)1.621.171.06
Schedule of Restricted Stock Unit activity RSU activity is summarized as follows:
Number of Shares Outstanding (in thousands)Weighted Average Grant Date Fair Value per ShareWeighted Average Remaining Contractual Life (in years)
Aggregate Intrinsic Value (1) (in millions)
RSUs outstanding, December 31, 20221,446 $641.51 
RSUs granted991 699.07 
RSUs released, vested(681)644.90 
RSUs canceled(204)640.68 
RSUs outstanding, December 31, 20231,552 676.89 
RSUs granted842 884.10 
RSUs released, vested(688)714.66 
RSUs canceled(274)738.15 
RSUs outstanding, December 31, 20241,432 768.84 
RSUs granted878 825.22 
RSUs released, vested(691)765.22 
RSUs canceled(207)769.56 
RSUs outstanding, December 31, 20251,412 $805.59 1.27$1,081 
(1)The intrinsic value is calculated based on the closing market value of the stock as of December 31, 2025.
Schedule of Allocated Share-based Compensation
The following table presents, by operating expense, our stock-based compensation expense recognized in our consolidated statements of operations for the years ended December 31 (in millions):
202520242023
Cost of revenues$61 $58 $48 
Sales and marketing96 94 86 
General and administrative341 310 273 
Total$498 $462 $407 
Schedule of Share-based Compensation by Plan
Our stock-based compensation expense recognized in the consolidated statements of operations was comprised of the following types of equity awards for the years ended December 31 (in millions):
202520242023
RSUs$471 $438 $387 
RSAs— — 2 
Employee stock purchase plan27 24 18 
Total$498 $462 $407