Alphabet Inc.
For the period ended Dec 31, 2025. Filed Feb 5, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 5, 2026
GOOGL$287.38-0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Table of Contents | Alphabet Inc. |
|---|
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2024 | 2025 | |
| Operating activities | |||
| Net income | $73,795 | $100,118 | $132,170 |
| Adjustments: | |||
| Depreciation of property and equipment | 11,946 | 15,311 | 21,136 |
| Stock-based compensation expense | 22,460 | 22,785 | 24,953 |
| Deferred income taxes | (7,763) | (5,257) | 8,348 |
| Loss (gain) on debt and equity securities, net | 823 | (2,671) | (24,620) |
| Other | 4,330 | 3,419 | 2,108 |
| Changes in assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable, net | (7,833) | (5,891) | (8,779) |
| Income taxes, net | 523 | (2,418) | (3,226) |
| Other assets | (2,143) | (1,397) | (4,542) |
| Accounts payable | 664 | 359 | 907 |
| Accrued expenses and other liabilities | 3,937 | (1,161) | 12,939 |
| Accrued revenue share | 482 | 1,059 | 899 |
| Deferred revenue | 525 | 1,043 | 2,420 |
| Net cash provided by operating activities | 101,746 | 125,299 | 164,713 |
| Investing activities | |||
| Purchases of property and equipment | (32,251) | (52,535) | (91,447) |
| Purchases of marketable securities | (77,858) | (86,679) | (103,773) |
| Maturities and sales of marketable securities | 86,672 | 103,428 | 83,240 |
| Purchases of non-marketable securities | (3,027) | (5,034) | (5,716) |
| Maturities and sales of non-marketable securities | 947 | 882 | 1,367 |
| Acquisitions, net of cash acquired, and purchases of intangible assets | (495) | (2,931) | (1,592) |
| Other investing activities | (1,051) | (2,667) | (2,370) |
| Net cash used in investing activities | (27,063) | (45,536) | (120,291) |
| Financing activities | |||
| Net payments related to stock-based award activities | (9,837) | (12,190) | (14,167) |
| Repurchases of stock | (61,504) | (62,222) | (45,709) |
| Dividend payments | 0 | (7,363) | (10,049) |
| Proceeds from issuance of debt, net of costs | 10,790 | 13,589 | 64,564 |
| Repayments of debt | (11,550) | (12,701) | (32,427) |
| Proceeds from sale of interest in consolidated entities, net | 8 | 1,154 | 400 |
| Net cash used in financing activities | (72,093) | (79,733) | (37,388) |
| Effect of exchange rate changes on cash and cash equivalents | (421) | (612) | 208 |
| Net increase (decrease) in cash and cash equivalents | 2,169 | (582) | 7,242 |
| Cash and cash equivalents at beginning of period | 21,879 | 24,048 | 23,466 |
| Cash and cash equivalents at end of period | $24,048 | $23,466 | $30,708 |
| Supplemental disclosures of non-cash investing activities: | |||
| Purchases of property and equipment included in accrued liabilities and accounts payable | $7,435 | $10,326 | $15,090 |
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