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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 62,736 $ 47,281
Adjustments:    
Depreciation of property and equipment 9,485 7,121
Stock-based compensation expense 11,514 11,129
Deferred income taxes (1,596) (2,738)
Loss (gain) on debt and equity securities, net (11,411) (757)
Other 1,041 1,185
Changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net (1,201) 110
Income taxes, net (2,434) (889)
Other assets (2,767) (1,532)
Accounts payable (327) (563)
Accrued expenses and other liabilities (1,560) (5,176)
Accrued revenue share (219) 97
Deferred revenue 636 220
Net cash provided by operating activities 63,897 55,488
Investing activities    
Purchases of property and equipment (39,643) (25,198)
Purchases of marketable securities (39,870) (43,011)
Maturities and sales of marketable securities 40,930 58,577
Purchases of non-marketable securities (2,312) (2,199)
Maturities and sales of non-marketable securities 873 605
Acquisitions, net of cash acquired, and purchases of intangible assets (353) (87)
Other investing activities (363) (32)
Net cash used in investing activities (40,738) (11,345)
Financing activities    
Net payments related to stock-based award activities (5,731) (6,138)
Repurchases of stock (28,706) (31,380)
Dividend payments (4,977) (2,466)
Proceeds from issuance of debt, net of costs 31,378 4,875
Repayments of debt (18,397) (5,502)
Proceeds from sale of interest in consolidated entities, net 400 8
Net cash used in financing activities (26,033) (40,603)
Effect of exchange rate changes on cash and cash equivalents 444 (363)
Net increase (decrease) in cash and cash equivalents (2,430) 3,177
Cash and cash equivalents at beginning of period 23,466 24,048
Cash and cash equivalents at end of period $ 21,036 $ 27,225