v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income including non-controlling interests $ 282 $ 1,774
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 191 178
Stock-based compensation 473 435
Deferred income taxes 106 (412)
Unrealized (gain) loss on debt and equity securities, net 1,474 (51)
Unrealized foreign currency transactions 5 (51)
Other 20 (27)
Change in assets and liabilities, net of impact of business acquisitions and disposals:    
Accounts receivable (74) (123)
Prepaid expenses and other assets (212) (497)
Operating lease right-of-use assets 62 43
Accounts payable 184 6
Accrued insurance reserves 443 675
Accrued expenses and other liabilities (541) 430
Operating lease liabilities (62) (56)
Net cash provided by operating activities 2,351 2,324
Cash flows from investing activities    
Purchases of property and equipment (65) (74)
Purchases of non-marketable equity securities (332) (179)
Purchases of marketable securities (6,759) (2,540)
Purchases of notes receivable (187) (40)
Proceeds from maturities and sales of marketable securities 6,546 2,397
Acquisition of businesses, net of cash acquired (6) 0
Other investing activities 30 (106)
Net cash used in investing activities (773) (542)
Cash flows from financing activities    
Principal payments on finance leases (40) (47)
Repurchases of common stock (3,011) (1,785)
Other financing activities (40) (30)
Net cash used in financing activities (3,091) (1,862)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents (24) 70
Net decrease in cash and cash equivalents, and restricted cash and cash equivalents (1,537) (10)
Cash and cash equivalents, and restricted cash and cash equivalents    
Beginning of period 9,647 8,610
End of period 8,110 8,600
Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets    
Cash and cash equivalents 5,558 5,132
Restricted cash and cash equivalents-current 680 1,253
Restricted cash and cash equivalents-non-current 1,872 2,215
Total cash and cash equivalents, and restricted cash and cash equivalents 8,110 8,600
Cash paid for:    
Interest, net of amount capitalized 180 174
Income taxes, net of refunds 84 55
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations $ 418 $ 45