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 $ 1,748 $ 1,425 $ 1,731
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 738 564 562
Amortization of deferred commissions 621 550 459
Stock-based compensation 1,955 1,746 1,604
Deferred income taxes 249 98 (857)
Other 104 (51) 0
Changes in operating assets and liabilities, net of effect of business combinations:      
Accounts receivable (312) (254) (300)
Deferred commissions (758) (713) (717)
Prepaid expenses and other assets (384) (332) (203)
Accounts payable 55 (52) (142)
Deferred revenue 1,179 1,179 1,085
Accrued expenses and other liabilities 249 107 176
Net cash provided by operating activities 5,444 4,267 3,398
Cash flows from investing activities:      
Purchases of property and equipment (868) (852) (694)
Business combinations, net of cash acquired (1,084) (113) (279)
Purchases of other intangibles (43) (40) (3)
Purchases of marketable securities (2,814) (5,031) (4,634)
Purchases of strategic investments (1,056) (181) (75)
Sales and maturities of marketable securities 4,138 3,752 3,522
Other 38 (36) (4)
Net cash used in investing activities (1,689) (2,501) (2,167)
Cash flows from financing activities:      
Proceeds from employee stock plans 270 237 194
Repurchases of common stock (1,840) (696) (538)
Taxes paid related to net share settlement of equity awards (770) (700) (459)
Business combination 0 (184) 0
Net cash used in financing activities (2,340) (1,343) (803)
Foreign currency effect on cash, cash equivalents and restricted cash 7 (17) 1
Net change in cash, cash equivalents and restricted cash 1,422 406 429
Cash, cash equivalents and restricted cash at beginning of period 2,310 1,904 1,475
Cash, cash equivalents and restricted cash at end of period 3,732 2,310 1,904
Cash, cash equivalents and restricted cash at end of period:      
Cash and cash equivalents 3,726 2,304 1,897
Restricted cash included in prepaid expenses and other current assets 6 6 7
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows 3,732 2,310 1,904
Supplemental disclosures of other cash flow information:      
Interest paid 22 23 23
Income taxes paid, net of refunds [1] 283 230 127
Non-cash investing and financing activities:      
Property and equipment included in accounts payable, accrued expenses and other liabilities 154 55 44
Fair value of common stock issued for business combinations 1,901 0 0
Income Taxes Paid, Net      
Federal 46 64 2
State 83 55 54
Foreign 154 111 71
Income taxes paid, net of refunds [1] 283 230 127
India      
Income Taxes Paid, Net      
Foreign 38 25 19
Brazil      
Income Taxes Paid, Net      
Foreign 34 28 15
Ireland      
Income Taxes Paid, Net      
Foreign 29 17 9
Netherlands      
Income Taxes Paid, Net      
Foreign 22 $ 15 7
New Jersey      
Income Taxes Paid, Net      
State $ 15   10
Illinois      
Income Taxes Paid, Net      
State     $ 14
[1] Income taxes paid, net of refunds, disaggregated by jurisdiction, are outlined below:
Year Ended December 31,
202520242023
Federal
$46 $64 $2 
State
83 55 54 
Foreign
154 111 71 
Income taxes paid, net of refunds
$283 $230 $127 
Income taxes paid, net of refunds exceeding 5 percent of total income taxes paid, net of refunds
Foreign
India
$38 $25 $19 
Brazil
34 28 15 
Ireland
29 17 9 
Netherlands
22 15 7 
State
New Jersey
15 *10 
Illinois
**14 
*The amount of income taxes paid during the year does not meet the 5% disaggregation threshold.