Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Alphabet Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Income Trends
- The net income exhibited a generally upward trajectory from 2020 through early 2025, rising from 6.8 billion USD in Q1 2020 to 34.5 billion USD by Q1 2025. There were periods of fluctuation, notably a decline in early 2022, but recovery and growth resumed subsequently.
- Depreciation of Property and Equipment
- Depreciation expenses showed fluctuations with an initial increase until late 2020, a sharp decline in 2021, followed by a recovery and growth, peaking at 4.5 billion USD in early 2025, indicating ongoing significant investment in property and equipment over time.
- Stock-Based Compensation Expense
- This expense displayed a consistent upward trend, increasing from approximately 3.2 billion USD in early 2020 to around 5.5 billion USD by early 2025, reflecting growing costs related to employee compensation packages.
- Deferred Income Taxes
- Deferred income taxes fluctuated significantly, with periods of both positive and negative values, indicating variability in tax timing differences and possibly reflecting changes in tax strategy or regulatory impacts.
- Gain/Loss on Debt and Equity Securities
- This item fluctuated between gains and losses, showing significant volatility. Notably, large losses occurred in 2020 and recurring fluctuations through 2024, culminating with a substantial loss in Q1 2025, highlighting exposure to market valuation changes.
- Accounts Receivable, Net
- Accounts receivable showed considerable volatility with sharp fluctuations between positive and negative values across quarters, indicating variability in credit sales and collections.
- Income Taxes, Net
- Income taxes paid or received exhibited irregular patterns with alternating positive and negative amounts, suggesting variability in tax payments possibly associated with timing or settlements.
- Changes in Assets and Liabilities
- The net changes were inconsistent over the periods, reflecting dynamic operational adjustments, with some periods of significant asset and liability shifts, such as a sharp negative change in late 2023.
- Net Cash Provided by Operating Activities
- Operating cash flows generally increased over the examined period, peaking near 39 billion USD in early 2025, with a few fluctuations marked by a dip in late 2023, indicating sustained strong cash generation capability.
- Purchases of Property and Equipment
- Investments in property and equipment increased steadily, with the highest amounts recorded in late 2024 and early 2025, reflecting ongoing expansion or replacement of fixed assets.
- Purchases and Sales of Marketable Securities
- Purchases of marketable securities varied significantly, with large outflows early on, some reduction in purchase amounts later, while maturities and sales showed consistently large inflows, indicating active portfolio management with net positive liquidity events from securities transactions.
- Acquisitions and Intangible Asset Purchases
- The acquisition activity was variable but generally moderate, with a few large outflows such as in Q3 2022 and Q4 2024, indicating selective strategic investments.
- Net Cash Used in Investing Activities
- Investing cash flows showed consistent negative values, reflecting ongoing spending in capital expenditures, acquisitions, and securities purchases, with notable peaks of investment outflows in later periods.
- Stock Repurchases and Dividend Payments
- Stock repurchases have been substantial and fairly consistent over time, generally around 13 to 16 billion USD per quarter. Dividend payments appeared only in later periods beginning in 2024, indicating a potential policy shift towards returning cash to shareholders.
- Debt Issuance and Repayments
- Debt activities displayed a pattern of substantial issuance generally matching repayments, resulting in fluctuating but relatively balanced net financing cash flows, though large swings occurred in certain quarters.
- Net Cash Used in Financing Activities
- Financing activities predominantly resulted in cash outflows, driven mainly by stock repurchases and debt repayments, with large consistent negative outflows indicating significant returns to shareholders and reduction in liabilities over time.
- Net Increase (Decrease) in Cash and Cash Equivalents
- The net cash position fluctuated quarter to quarter with several periods of declines, such as in mid-to-late 2024, but also showed marked increases, indicating active cash management amidst investing and financing outflows.