v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 33,419 $ 32,438
Adjustments:    
Depreciation and impairment of property and equipment 6,339 7,289
Amortization and impairment of intangible assets 244 392
Stock-based compensation expense 11,058 9,286
Deferred income taxes (4,269) (4,237)
Loss (gain) on debt and equity securities, net 425 2,478
Other 650 202
Changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net 1,506 2,395
Income taxes, net 8,520 (253)
Other assets (1,259) (1,621)
Accounts payable 14 (1,172)
Accrued expenses and other liabilities (4,037) (1,719)
Accrued revenue share (418) (942)
Deferred revenue (17) (8)
Net cash provided by operating activities 52,175 44,528
Investing activities    
Purchases of property and equipment (13,177) (16,614)
Purchases of marketable securities (35,589) (50,199)
Maturities and sales of marketable securities 37,049 55,374
Purchases of non-marketable securities (1,513) (1,264)
Maturities and sales of non-marketable securities 181 125
Acquisitions, net of cash acquired, and purchases of intangible assets (340) (1,236)
Other investing activities (357) 576
Net cash used in investing activities (13,746) (13,238)
Financing activities    
Net payments related to stock-based award activities (4,725) (5,180)
Repurchases of stock (29,526) (28,497)
Proceeds from issuance of debt, net of costs 8,050 29,228
Repayments of debt (8,207) (29,582)
Proceeds from sale of interest in consolidated entities, net 5 0
Net cash used in financing activities (34,403) (34,031)
Effect of exchange rate changes on cash and cash equivalents 24 (268)
Net increase (decrease) in cash and cash equivalents 4,050 (3,009)
Cash and cash equivalents at beginning of period 21,879 20,945
Cash and cash equivalents at end of period $ 25,929 $ 17,936