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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 1,328 $ 675
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes (208) (137)
Non-cash operating lease cost 42 37
Depreciation and amortization 38 49
Amortization of capitalized software development costs [1] 212 133
Share-based compensation expense [2] 226 199
Other (77) (27)
Changes in operating assets and liabilities, net of effect of business acquisitions:    
Accounts receivable, net 173 394
Software development (382) (290)
Other assets 21 61
Deferred revenues (228) (268)
Accounts payable (104) (87)
Accrued expenses and other liabilities 126 101
Net cash provided by operating activities 1,167 840
Cash flows from investing activities:    
Proceeds from maturities of available-for-sale investments 0 22
Proceeds from sale of available-for-sale investments 0 20
Proceeds from maturities of held-to-maturity investments 5,000 0
Purchases of available-for-sale investments 0 (109)
Purchases of held-to-maturity investments (2,311) 0
Acquisition of business, net of cash acquired 0 (135)
Capital expenditures (60) (52)
Other investing activities 0 1
Net cash provided by (used in) investing activities 2,629 (253)
Cash flows from financing activities:    
Proceeds from issuance of common stock to employees 25 37
Tax payment related to net share settlements on restricted stock units (122) (137)
Dividends paid 0 (367)
Net cash used in financing activities (97) (467)
Effect of foreign exchange rate changes on cash and cash equivalents 12 (48)
Net increase in cash and cash equivalents and restricted cash 3,711 72
Cash and cash equivalents and restricted cash at beginning of period 7,086 10,438
Cash and cash equivalents and restricted cash at end of period $ 10,797 $ 10,510
[1] Excludes deferral and amortization of share-based compensation expense, including liability awards accounted for under Accounting Standards Codification (“ASC”) 718.
[2] Includes the net effects of capitalization, deferral, and amortization of share-based compensation expense, including liability awards accounted for under ASC 718.