v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 60,458 $ 62,360 $ 39,098
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 18,616 15,498 11,178
Share-based compensation 20,427 16,690 14,027
Deferred income taxes 18,738 (4,738) 131
Unrealized (gain) loss on equity investments (1,138) (53) 102
Impairment charges for facilities consolidation 0 383 2,432
Other (416) 140 309
Changes in assets and liabilities:      
Accounts receivable (1,815) (1,485) (2,399)
Prepaid expenses and other current assets (89) (698) 559
Other assets (481) (270) (80)
Accounts payable (14) 373 51
Accrued expenses and other current liabilities 1,077 323 5,081
Other liabilities 437 2,805 624
Net cash provided by operating activities 115,800 91,328 71,113
Cash flows from investing activities      
Purchases of property and equipment (69,691) (37,256) (27,045)
Purchases of marketable securities (36,929) (25,542) (2,982)
Sales and maturities of marketable securities 26,874 15,789 6,184
Payments for held-for-sale assets (2,432) 0 0
Proceeds from Venture distribution 2,554 0 0
Purchases of non-marketable equity investments (18,330) (11) (1)
Acquisitions of businesses and intangible assets (4,231) (270) (629)
Other investing activities 182 140 (22)
Net cash used in investing activities (102,003) (47,150) (24,495)
Cash flows from financing activities      
Taxes paid related to net share settlement of equity awards (18,400) (13,770) (7,012)
Repurchases of Class A common stock (26,248) (30,125) (19,774)
Payments for dividends and dividend equivalents (5,324) (5,072) 0
Proceeds from issuance of long-term debt, net 29,906 10,432 8,455
Principal payments on finance leases (2,524) (1,969) (1,058)
Other financing activities 2,220 (277) (111)
Net cash used in financing activities (20,370) (40,781) (19,500)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash equivalents 235 (786) 113
Net increase (decrease) in cash, cash equivalents, and restricted cash equivalents (6,338) 2,611 27,231
Cash, cash equivalents, and restricted cash equivalents at beginning of the period 45,438 42,827 15,596
Cash, cash equivalents, and restricted cash equivalents at end of the period 39,100 45,438 42,827
Reconciliation of cash, cash equivalents, and restricted cash equivalents to the consolidated balance sheets      
Cash and cash equivalents 35,873 43,889 41,862
Restricted cash equivalents, included in prepaid expenses and other current assets 837 353 99
Restricted cash equivalents, included in other assets 2,390 1,196 866
Total cash, cash equivalents, and restricted cash equivalents 39,100 45,438 42,827
Supplemental cash flow data      
Cash paid for income taxes, net 7,578 10,554 6,607
Cash paid for interest, net of amounts capitalized 696 486 448
Non-cash investing and financing activities:      
Property and equipment in accounts payable and accrued expenses and other current liabilities 9,331 7,127 4,105
Acquisition of businesses and intangible assets in accounts payable, accrued expenses and other current liabilities, and other liabilities $ 2,659 $ 172 $ 119