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[ "The Procter & Gamble Company 43\n Global Segment Results Net Sales\n Earnings/(Loss)\n Before\n Income Taxes Net Earnings/(Loss)\n Depreciation\n and\n Amortization\n Total\n Assets\n Capital\n Expenditures\n BEAUTY 2023 $ 15,008 $ 4,009 $ 3,178 $ 376 $ 6,196 $ 287\n 2022 14,740 3,946 3,160 348 6,055 331\n 2021 14,417 4,018 3,210 333 5,587 386\n GROOMING 2023 6,419 1,806 1,461 335 20,601 300\n 2022 6,587 1,835 1,490 361 20,482 260\n 2021 6,440 1,728 1,427 378 20,668 291\n HEALTH CARE 2023 11,226 2,759 2,125 352 8,480 466\n 2022 10,824 2,618 2,006 376 7,888 410\n 2021 9,956 2,398 1,851 372 7,976 364\n FABRIC & HOME CARE 2023 28,371 6,303 4,828 675 8,669 979\n 2022 27,556 5,729 4,386 672 8,567 988\n 2021 26,014 5,986 4,622 646 8,334 1,006\n BABY, FEMININE & FAMILY\n CARE 2023 20,217 4,623 3,545 804 8,517 994\n 2022 19,736 4,267 3,266 826 8,443 932\n 2021 18,850 4,723 3,629 846 8,666 814\n CORPORATE 2023 765 (1,147) (399) 172 68,366 36\n 2022 744 (400) 485 224 65,773 235\n 2021 441 (1,238) (387) 160 68,076 (74)\n TOTAL COMPANY 2023 $ 82,006 $ 18,353 $ 14,738 $ 2,714 $ 120,829 $ 3,062\n 2022 80,187 17,995 14,793 2,807 117,208 3,156\n 2021 76,118 17,615 14,352 2,735 119,307 2,787\n Amounts in millions of dollars except per share amounts or as otherwise specified." ]

[ "The Procter & Gamble Company 43\n Global Segment Results Net Sales\n Earnings/(Loss)\n Before\n Income Taxes Net Earnings/(Loss)\n Depreciation\n and\n Amortization\n Total\n Assets\n Capital\n Expenditures\n BEAUTY 2023 $ 15,008 $ 4,009 $ 3,178 $ 376 $ 6,196 $ 287\n 2022 14,740 3,946 3,160 348 6,055 331\n 2021 14,417 4,018 3,210 333 5,587 386\n GROOMING 2023 6,419 1,806 1,461 335 20,601 300\n 2022 6,587 1,835 1,490 361 20,482 260\n 2021 6,440 1,728 1,427 378 20,668 291\n HEALTH CARE 2023 11,226 2,759 2,125 352 8,480 466\n 2022 10,824 2,618 2,006 376 7,888 410\n 2021 9,956 2,398 1,851 372 7,976 364\n FABRIC & HOME CARE 2023 28,371 6,303 4,828 675 8,669 979\n 2022 27,556 5,729 4,386 672 8,567 988\n 2021 26,014 5,986 4,622 646 8,334 1,006\n BABY, FEMININE & FAMILY\n CARE 2023 20,217 4,623 3,545 804 8,517 994\n 2022 19,736 4,267 3,266 826 8,443 932\n 2021 18,850 4,723 3,629 846 8,666 814\n CORPORATE 2023 765 (1,147) (399) 172 68,366 36\n 2022 744 (400) 485 224 65,773 235\n 2021 441 (1,238) (387) 160 68,076 (74)\n TOTAL COMPANY 2023 $ 82,006 $ 18,353 $ 14,738 $ 2,714 $ 120,829 $ 3,062\n 2022 80,187 17,995 14,793 2,807 117,208 3,156\n 2021 76,118 17,615 14,352 2,735 119,307 2,787\n Amounts in millions of dollars except per share amounts or as otherwise specified" ]

[ "The Procter & Gamble Company 43\n Global Segment Results Net Sales\n Earnings/(Loss)\n Before\n Income Taxes Net Earnings/(Loss)\n Depreciation\n and\n Amortization\n Total\n Assets\n Capital\n Expenditures\n BEAUTY 2023 $ 15,008 $ 4,009 $ 3,178 $ 376 $ 6,196 $ 287\n 2022 14,740 3,946 3,160 348 6,055 331\n 2021 14,417 4,018 3,210 333 5,587 386\n GROOMING 2023 6,419 1,806 1,461 335 20,601 300\n 2022 6,587 1,835 1,490 361 20,482 260\n 2021 6,440 1,728 1,427 378 20,668 291\n HEALTH CARE 2023 11,226 2,759 2,125 352 8,480 466\n 2022 10,824 2,618 2,006 376 7,888 410\n 2021 9,956 2,398 1,851 372 7,976 364\n FABRIC & HOME CARE 2023 28,371 6,303 4,828 675 8,669 979\n 2022 27,556 5,729 4,386 672 8,567 988\n 2021 26,014 5,986 4,622 646 8,334 1,006\n BABY, FEMININE & FAMILY\n CARE 2023 20,217 4,623 3,545 804 8,517 994\n 2022 19,736 4,267 3,266 826 8,443 932\n 2021 18,850 4,723 3,629 846 8,666 814\n CORPORATE 2023 765 (1,147) (399) 172 68,366 36\n 2022 744 (400) 485 224 65,773 235\n 2021 441 (1,238) (387) 160 68,076 (74)\n TOTAL COMPANY 2023 $ 82,006 $ 18,353 $ 14,738 $ 2,714 $ 120,829 $ 3,062\n 2022 80,187 17,995 14,793 2,807 117,208 3,156\n 2021 76,118 17,615 14,352 2,735 119,307 2,787\n Amounts in millions of dollars except per share amounts or as otherwise specified" ]

[ "The Procter & Gamble Company 43\n Global Segment Results Net Sales\n Earnings/(Loss)\n Before\n Income Taxes Net Earnings/(Loss)\n Depreciation\n and\n Amortization\n Total\n Assets\n Capital\n Expenditures\n BEAUTY 2023 $ 15,008 $ 4,009 $ 3,178 $ 376 $ 6,196 $ 287\n 2022 14,740 3,946 3,160 348 6,055 331\n 2021 14,417 4,018 3,210 333 5,587 386\n GROOMING 2023 6,419 1,806 1,461 335 20,601 300\n 2022 6,587 1,835 1,490 361 20,482 260\n 2021 6,440 1,728 1,427 378 20,668 291\n HEALTH CARE 2023 11,226 2,759 2,125 352 8,480 466\n 2022 10,824 2,618 2,006 376 7,888 410\n 2021 9,956 2,398 1,851 372 7,976 364\n FABRIC & HOME CARE 2023 28,371 6,303 4,828 675 8,669 979\n 2022 27,556 5,729 4,386 672 8,567 988\n 2021 26,014 5,986 4,622 646 8,334 1,006\n BABY, FEMININE & FAMILY\n CARE 2023 20,217 4,623 3,545 804 8,517 994\n 2022 19,736 4,267 3,266 826 8,443 932\n 2021 18,850 4,723 3,629 846 8,666 814\n CORPORATE 2023 765 (1,147) (399) 172 68,366 36\n 2022 744 (400) 485 224 65,773 235\n 2021 441 (1,238) (387) 160 68,076 (74)\n TOTAL COMPANY 2023 $ 82,006 $ 18,353 $ 14,738 $ 2,714 $ 120,829 $ 3,062\n 2022 80,187 17,995 14,793 2,807 117,208 3,156\n 2021 76,118 17,615 14,352 2,735 119,307 2,787\n Amounts in millions of dollars except per share amounts or as otherwise specified" ]

[ "Global Segment Results Net Sales\n Earnings/(Loss)\n Before\n Income Taxes Net Earnings/(Loss)\n Depreciation\n and\n Amortization\n Total\n Assets\n Capital\n Expenditures\n BEAUTY 2023 $ 15,008 $ 4,009 $ 3,178 $ 376 $ 6,196 $ 287\n 2022 14,740 3,946 3,160 348 6,055 331\n 2021 14,417 4,018 3,210 333 5,587 386\n GROOMING 2023 6,419 1,806 1,461 335 20,601 300\n 2022 6,587 1,835 1,490 361 20,482 260\n 2021 6,440 1,728 1,427 378 20,668 291\n HEALTH CARE 2023 11,226 2,759 2,125 352 8,480 466\n 2022 10,824 2,618 2,006 376 7,888 410\n 2021 9,956 2,398 1,851 372 7,976 364\n FABRIC & HOME CARE 2023 28,371 6,303 4,828 675 8,669 979\n 2022 27,556 5,729 4,386 672 8,567 988\n 2021 26,014 5,986 4,622 646 8,334 1,006\n BABY, FEMININE & FAMILY\n CARE 2023 20,217 4,623 3,545 804 8,517 994\n 2022 19,736 4,267 3,266 826 8,443 932\n 2021 18,850 4,723 3,629 846 8,666 814\n CORPORATE 2023 765 (1,147) (399) 172 68,366 36\n 2022 744 (400) 485 224 65,773 235\n 2021 441 (1,238) (387) 160 68,076 (74)\n TOTAL COMPANY 2023 $ 82,006 $ 18,353 $ 14,738 $ 2,714 $ 120,829 $ 3,062\n 2022 80,187 17,995 14,793 2,807 117,208 3,156\n 2021 76,118 17,615 14,352 2,735 119,307 2,787" ]

[ "Global Segment Results Net Sales\n Earnings/(Loss)\n Before\n Income Taxes Net Earnings/(Loss)\n Depreciation\n and\n Amortization\n Total\n Assets\n Capital\n Expenditures\n BEAUTY 2023 $ 15,008 $ 4,009 $ 3,178 $ 376 $ 6,196 $ 287\n 2022 14,740 3,946 3,160 348 6,055 331\n 2021 14,417 4,018 3,210 333 5,587 386\n GROOMING 2023 6,419 1,806 1,461 335 20,601 300\n 2022 6,587 1,835 1,490 361 20,482 260\n 2021 6,440 1,728 1,427 378 20,668 291\n HEALTH CARE 2023 11,226 2,759 2,125 352 8,480 466\n 2022 10,824 2,618 2,006 376 7,888 410\n 2021 9,956 2,398 1,851 372 7,976 364\n FABRIC & HOME CARE 2023 28,371 6,303 4,828 675 8,669 979\n 2022 27,556 5,729 4,386 672 8,567 988\n 2021 26,014 5,986 4,622 646 8,334 1,006\n BABY, FEMININE & FAMILY\n CARE 2023 20,217 4,623 3,545 804 8,517 994\n 2022 19,736 4,267 3,266 826 8,443 932\n 2021 18,850 4,723 3,629 846 8,666 814\n CORPORATE 2023 765 (1,147) (399) 172 68,366 36\n 2022 744 (400) 485 224 65,773 235\n 2021 441 (1,238) (387) 160 68,076 (74)\n TOTAL COMPANY 2023 $ 82,006 $ 18,353 $ 14,738 $ 2,714 $ 120,829 $ 3,062\n 2022 80,187 17,995 14,793 2,807 117,208 3,156\n 2021 76,118 17,615 14,352 2,735 119,307 2,787\n Amounts in millions of dollars except per share amounts or as otherwise specified" ]

[ "Global Segment Results Net Sales\n Earnings/(Loss)\n Before\n Income Taxes Net Earnings/(Loss)\n Depreciation\n and\n Amortization\n Total\n Assets\n Capital\n Expenditures\n BEAUTY 2023 $ 15,008 $ 4,009 $ 3,178 $ 376 $ 6,196 $ 287\n 2022 14,740 3,946 3,160 348 6,055 331\n 2021 14,417 4,018 3,210 333 5,587 386\n GROOMING 2023 6,419 1,806 1,461 335 20,601 300\n 2022 6,587 1,835 1,490 361 20,482 260\n 2021 6,440 1,728 1,427 378 20,668 291\n HEALTH CARE 2023 11,226 2,759 2,125 352 8,480 466\n 2022 10,824 2,618 2,006 376 7,888 410\n 2021 9,956 2,398 1,851 372 7,976 364\n FABRIC & HOME CARE 2023 28,371 6,303 4,828 675 8,669 979\n 2022 27,556 5,729 4,386 672 8,567 988\n 2021 26,014 5,986 4,622 646 8,334 1,006\n BABY, FEMININE & FAMILY\n CARE 2023 20,217 4,623 3,545 804 8,517 994\n 2022 19,736 4,267 3,266 826 8,443 932\n 2021 18,850 4,723 3,629 846 8,666 814\n CORPORATE 2023 765 (1,147) (399) 172 68,366 36\n 2022 744 (400) 485 224 65,773 235\n 2021 441 (1,238) (387) 160 68,076 (74)\n TOTAL COMPANY 2023 $ 82,006 $ 18,353 $ 14,738 $ 2,714 $ 120,829 $ 3,062\n 2022 80,187 17,995 14,793 2,807 117,208 3,156\n 2021 76,118 17,615 14,352 2,735 119,307 2,787\n Amounts in millions of dollars except per share amounts or as otherwise specified." ]

[ "Consolidated Statements of Earnings\n Amounts in millions except per share amounts; fiscal years ended June 30 2023 2022 2021\n NET SALES $ 82,006 $ 80,187 $ 76,118\n Cost of products sold 42,760 42,157 37,108\n Selling, general and administrative expense 21,112 20,217 21,024\n OPERATING INCOME 18,134 17,813 17,986" ]

[ "Consolidated Statements of Earnings\n Amounts in millions except per share amounts; fiscal years ended June 30 2023 2022 2021\n NET SALES $ 82,006 $ 80,187 $ 76,118\n Cost of products sold 42,760 42,157 37,108\n Selling, general and administrative expense 21,112 20,217 21,024\n OPERATING INCOME 18,134 17,813 17,986\n Interest expense (756) (439) (502)\n Interest income 307 51 45\n Other non-operating income, net 668 570 86\n EARNINGS BEFORE INCOME TAXES 18,353 17,995 17,615\n Income taxes 3,615 3,202 3,263\n NET EARNINGS 14,738 14,793 14,352\n Less: Net earnings attributable to noncontrolling interests 85 51 46\n NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE $ 14,653 $ 14,742 $ 14,306\n NET EARNINGS PER COMMON SHARE\n Basic $ 6.07 $ 6.00 $ 5.69\n Diluted $ 5.90 $ 5.81 $ 5.50" ]

[ "Consolidated Statements of Earnings\n Amounts in millions except per share amounts; fiscal years ended June 30 2023 2022 2021\n NET SALES $ 82,006 $ 80,187 $ 76,118\n Cost of products sold 42,760 42,157 37,108\n Selling, general and administrative expense 21,112 20,217 21,024\n OPERATING INCOME 18,134 17,813 17,986\n Interest expense (756) (439) (502)\n Interest income 307 51 45\n Other non-operating income, net 668 570 86\n EARNINGS BEFORE INCOME TAXES 18,353 17,995 17,615\n Income taxes 3,615 3,202 3,263\n NET EARNINGS 14,738 14,793 14,352\n Less: Net earnings attributable to noncontrolling interests 85 51 46\n NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE $ 14,653 $ 14,742 $ 14,306\n NET EARNINGS PER COMMON SHARE\n Basic $ 6.07 $ 6.00 $ 5.69\n Diluted $ 5.90 $ 5.81 $ 5.50" ]

[ "NOTE 10\n SHORT-TERM AND LONG-TERM DEBT\n As of June 30 2023 2022\n DEBT DUE WITHIN ONE YEAR\n Current portion of long-term debt $ 3,951 $ 3,647\n Commercial paper 6,236 4,805\n Other 42 193\n TOTAL $ 10,229 $ 8,645\n Weighted average interest rate of debt due within one year 4.2 % 0.8 %" ]

[ "iscal years ended June 30 2023 2022 2021\n U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 %\n Country mix impacts of foreign operations (0.5)% (0.3)% (0.5)%\n State income taxes, net of federal benefit 1.6 % 1.5 % 1.3 %\n Excess tax benefits from the exercise of stock options (1.0)% (2.0)% (1.6)%\n Foreign derived intangible income deduction (FDII) (0.8)% (1.1)% (1.0)%\n Changes in uncertain tax positions 0.1 % (0.4)% (0.1)%\n Other (0.7)% (0.9)% (0.6)%\n EFFECTIVE INCOME TAX RATE 19.7 % 17.8 % 18.5 %" ]

[ "DEFERRED TAX LIABILITIES\n Goodwill and other intangible assets $ 5,811 $ 5,783\n Fixed assets 1,556 1,542\n Other retiree benefits 1,101 1,031\n Unrealized gain on financial and foreign exchange transactions 198 439\n Lease right-of-use assets 191 179\n Foreign withholding tax on earnings to be repatriated 96 70\n Other 381 244\n TOTAL $ 9,334 $ 9,288\n Net operating loss carryforwards were $2.9 billion at June 30, 2023, and $2.5 billion at June 30, 2022. If unused, approximately $300 will expire between 2023\n and 2042. The remainder, totaling $2.6 billion at June 30, 2023, may be carried forward indefinitely.\n NOTE 6\n EARNINGS PER SHARE\n Basic net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble less preferred dividends by the weighted\n average number of common shares outstanding during the year. Diluted net earnings per common share are calculated by dividing Net earnings attributable to\n Procter & Gamble by the diluted weighted average number of common shares outstanding during the year. The diluted shares include the dilutive effect of\n stock options and other share-based awards based on the treasury stock method (see Note 7) and the assumed conversion of preferred stock (see Note 8).\n Amounts in millions of dollars except per share amounts or as otherwise specified." ]

[ "Net Sales Change Drivers 2023 vs. 2022\n Volume with\n Acquisitions &\n Divestitures\n Volume Excluding\n Acquisitions &\n Divestitures\n Foreign\n Exchange Price Mix Other\n Net Sales\n Growth\n Beauty (1) % (2) % (5) % 8 % (1) % 1 % 2 %\n Grooming (3) % (3) % (7) % 9 % (2) % — % (3) %\n Health Care (1) % (1) % (4) % 5 % 4 % — % 4 %\n Fabric & Home Care (4) % (4) % (5) % 11 % 1 % — % 3 %\n Baby, Feminine & Family Care (3) % (3) % (4) % 8 % 1 % — % 2 %\n TOTAL COMPANY (3)% (3)% (5)% 9 % 1 % — % 2 %" ]

[ "Net Sales Change Drivers 2023 vs. 2022\n Volume with\n Acquisitions &\n Divestitures\n Volume Excluding\n Acquisitions &\n Divestitures\n Foreign\n Exchange Price Mix Other\n Net Sales\n Growth\n Beauty (1) % (2) % (5) % 8 % (1) % 1 % 2 %\n Grooming (3) % (3) % (7) % 9 % (2) % — % (3) %\n Health Care (1) % (1) % (4) % 5 % 4 % — % 4 %\n Fabric & Home Care (4) % (4) % (5) % 11 % 1 % — % 3 %\n Baby, Feminine & Family Care (3) % (3) % (4) % 8 % 1 % — % 2 %\n TOTAL COMPANY (3)% (3)% (5)% 9 % 1 % — % 2 %" ]

[ "Consolidated Statements of Cash Flows\n Amounts in millions; fiscal years ended June 30 2023 2022 2021\n CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR $ 7,214 $ 10,288 $ 16,181\n OPERATING ACTIVITIES\n Net earnings 14,738 14,793 14,352\n Depreciation and amortization 2,714 2,807 2,735\n Loss on early extinguishment of debt — — 512\n Share-based compensation expense 545 528 540\n Deferred income taxes (453) (402) (258)\n Loss/(gain) on sale of assets (40) (85) (16)\n Change in accounts receivable (307) (694) (342)\n Change in inventories (119) (1,247) (309)\n Change in accounts payable and accrued and other liabilities 313 1,429 1,391\n Change in other operating assets and liabilities (1,107) (635) (369)\n Other 564 229 135\n TOTAL OPERATING ACTIVITIES 16,848 16,723 18,371" ]

[ "Consolidated Statements of Cash Flows\n Amounts in millions; fiscal years ended June 30 2023 2022 2021\n CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR $ 7,214 $ 10,288 $ 16,181\n OPERATING ACTIVITIES\n Net earnings 14,738 14,793 14,352\n Depreciation and amortization 2,714 2,807 2,735\n Loss on early extinguishment of debt — — 512\n Share-based compensation expense 545 528 540\n Deferred income taxes (453) (402) (258)\n Loss/(gain) on sale of assets (40) (85) (16)\n Change in accounts receivable (307) (694) (342)\n Change in inventories (119) (1,247) (309)\n Change in accounts payable and accrued and other liabilities 313 1,429 1,391\n Change in other operating assets and liabilities (1,107) (635) (369)\n Other 564 229 135\n TOTAL OPERATING ACTIVITIES 16,848 16,723 18,371\n INVESTING ACTIVITIES\n Capital expenditures (3,062) (3,156) (2,787)\n Proceeds from asset sales 46 110 42\n Acquisitions, net of cash acquired (765) (1,381) (34)\n Other investing activity 281 3 (55)\n TOTAL INVESTING ACTIVITIES (3,500) (4,424) (2,834)" ]

[ "QUALCOMM Incorporated CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data) Year Ended September 24, 2023 September 25, 2022 September 26, 2021 Revenues: Equipment and services $ 30,028 $ 37,171 $ 26,741 Licensing 5,792 7,029 6,825 Total revenues 35,820 44,200 33,566 Costs and expenses: Cost of revenues 15,869 18,635 14,262 Research and development 8,818 8,194 7,176 Selling, general and administrative 2,483 2,570 2,339 Other (Note 2) 862 (1,059) — Total costs and expenses 28,032 28,340 23,777 Operating income 7,788 15,860 9,789 Interest expense (694) (490) (559) Investment and other income (expense), net 349 (372) 1,044 Income from continuing operations before income taxes 7,443 14,998 10,274 Income tax expense (104) (2,012) (1,231) Income from continuing operations 7,339 12,986 9,043 Discontinued operations, net of income taxes (107) (50) — Net income $ 7,232 $ 12,936 $ 9,043 Basic earnings (loss) per share: Continuing operations $ 6.57 $ 11.56 $ 7.99 Discontinued operations (0.10) (0.04) — Net income $ 6.47 $ 11.52 $ 7.99 Diluted earnings (loss) per share: Continuing operations $ 6.52 $ 11.41 $ 7.87 Discontinued operations (0.10) (0.04) — Net income $ 6.42 $ 11.37 $ 7.87 Shares used in per share calculations: Basic 1,117 1,123 1,131 Diluted 1,126 1,137 1,149" ]

[ "QUALCOMM Incorporated CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data) Year Ended September 24, 2023 September 25, 2022 September 26, 2021 Revenues: Equipment and services $ 30,028 $ 37,171 $ 26,741 Licensing 5,792 7,029 6,825 Total revenues 35,820 44,200 33,566 Costs and expenses: Cost of revenues 15,869 18,635 14,262 Research and development 8,818 8,194 7,176 Selling, general and administrative 2,483 2,570 2,339 Other (Note 2) 862 (1,059) — Total costs and expenses 28,032 28,340 23,777 Operating income 7,788 15,860 9,789 Interest expense (694) (490) (559) Investment and other income (expense), net 349 (372) 1,044 Income from continuing operations before income taxes 7,443 14,998 10,274 Income tax expense (104) (2,012) (1,231) Income from continuing operations 7,339 12,986 9,043 Discontinued operations, net of income taxes (107) (50) — Net income $ 7,232 $ 12,936 $ 9,043 Basic earnings (loss) per share: Continuing operations $ 6.57 $ 11.56 $ 7.99 Discontinued operations (0.10) (0.04) — Net income $ 6.47 $ 11.52 $ 7.99 Diluted earnings (loss) per share: Continuing operations $ 6.52 $ 11.41 $ 7.87 Discontinued operations (0.10) (0.04) — Net income $ 6.42 $ 11.37 $ 7.87 Shares used in per share calculations: Basic 1,117 1,123 1,131 Diluted 1,126 1,137 1,149" ]

[ "QUALCOMM Incorporated CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data) Year Ended September 24, 2023 September 25, 2022 September 26, 2021 Revenues: Equipment and services $ 30,028 $ 37,171 $ 26,741 Licensing 5,792 7,029 6,825 Total revenues 35,820 44,200 33,566 Costs and expenses: Cost of revenues 15,869 18,635 14,262 Research and development 8,818 8,194 7,176 Selling, general and administrative 2,483 2,570 2,339 Other (Note 2) 862 (1,059) — Total costs and expenses 28,032 28,340 23,777 Operating income 7,788 15,860 9,789 Interest expense (694) (490) (559) Investment and other income (expense), net 349 (372) 1,044 Income from continuing operations before income taxes 7,443 14,998 10,274 Income tax expense (104) (2,012) (1,231) Income from continuing operations 7,339 12,986 9,043 Discontinued operations, net of income taxes (107) (50) — Net income $ 7,232 $ 12,936 $ 9,043 Basic earnings (loss) per share: Continuing operations $ 6.57 $ 11.56 $ 7.99 Discontinued operations (0.10) (0.04) — Net income $ 6.47 $ 11.52 $ 7.99 Diluted earnings (loss) per share: Continuing operations $ 6.52 $ 11.41 $ 7.87 Discontinued operations (0.10) (0.04) — Net income $ 6.42 $ 11.37 $ 7.87 Shares used in per share calculations: Basic 1,117 1,123 1,131 Diluted 1,126 1,137 1,149" ]

[ "QUALCOMM Incorporated CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data) Year Ended September 24, 2023 September 25, 2022 September 26, 2021 Revenues: Equipment and services $ 30,028 $ 37,171 $ 26,741 Licensing 5,792 7,029 6,825 Total revenues 35,820 44,200 33,566 Costs and expenses: Cost of revenues 15,869 18,635 14,262 Research and development 8,818 8,194 7,176 Selling, general and administrative 2,483 2,570 2,339 Other (Note 2) 862 (1,059) — Total costs and expenses 28,032 28,340 23,777 Operating income 7,788 15,860 9,789 Interest expense (694) (490) (559) Investment and other income (expense), net 349 (372) 1,044 Income from continuing operations before income taxes 7,443 14,998 10,274 Income tax expense (104) (2,012) (1,231) Income from continuing operations 7,339 12,986 9,043 Discontinued operations, net of income taxes (107) (50) — Net income $ 7,232 $ 12,936 $ 9,043 Basic earnings (loss) per share: Continuing operations $ 6.57 $ 11.56 $ 7.99 Discontinued operations (0.10) (0.04) — Net income $ 6.47 $ 11.52 $ 7.99 Diluted earnings (loss) per share: Continuing operations $ 6.52 $ 11.41 $ 7.87 Discontinued operations (0.10) (0.04) — Net income $ 6.42 $ 11.37 $ 7.87 Shares used in per share calculations: Basic 1,117 1,123 1,131 Diluted 1,126 1,137 1,149" ]

[ "QUALCOMM Incorporated CONSOLIDATED BALANCE SHEETS (In millions, except par value amounts) September 24, 2023 September 25, 2022 ASSETS Current assets: Cash and cash equivalents $ 8,450 $ 2,773 Marketable securities 2,874 3,609 Accounts receivable, net 3,183 5,643 Inventories 6,422 6,341 Held for sale assets 341 733 Other current assets 1,194 1,625 Total current assets 22,464 20,724 Deferred tax assets 3,310 1,803 Property, plant and equipment, net 5,042 5,168 Goodwill 10,642 10,508 Other intangible assets, net 1,408 1,882 Held for sale assets 88 1,200 Other assets 8,086 7,729 Total assets $ 51,040 $ 49,014 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Trade accounts payable $ 1,912 $ 3,796 Payroll and other benefits related liabilities 1,685 1,486 Unearned revenues 293 369 Short-term debt 914 1,945 Held for sale liabilities 333 581 Other current liabilities 4,491 3,689 Total current liabilities 9,628 11,866 Unearned revenues 99 144 Income taxes payable 1,080 1,472 Long-term debt 14,484 13,537 Held for sale liabilities 38 119 Other liabilities 4,130 3,863 Total liabilities 29,459 31,001 Commitments and contingencies (Note 7) Stockholders’ equity: Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding — — Common stock and paid-in capital, $0.0001 par value; 6,000 shares authorized; 1,114 and 1,121 shares issued and outstanding, respectively 490 195 Retained earnings 20,733 17,840 Accumulated other comprehensive income (loss) 358 (22) Total stockholders’ equity 21,581 18,013 Total liabilities and stockholders’ equity $ 51,040 $ 49,014" ]

[ "QUALCOMM Incorporated CONSOLIDATED BALANCE SHEETS (In millions, except par value amounts) September 24, 2023 September 25, 2022 ASSETS Current assets: Cash and cash equivalents $ 8,450 $ 2,773 Marketable securities 2,874 3,609 Accounts receivable, net 3,183 5,643 Inventories 6,422 6,341 Held for sale assets 341 733 Other current assets 1,194 1,625 Total current assets 22,464 20,724 Deferred tax assets 3,310 1,803 Property, plant and equipment, net 5,042 5,168 Goodwill 10,642 10,508 Other intangible assets, net 1,408 1,882 Held for sale assets 88 1,200 Other assets 8,086 7,729 Total assets $ 51,040 $ 49,014 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Trade accounts payable $ 1,912 $ 3,796 Payroll and other benefits related liabilities 1,685 1,486 Unearned revenues 293 369 Short-term debt 914 1,945 Held for sale liabilities 333 581 Other current liabilities 4,491 3,689 Total current liabilities 9,628 11,866 Unearned revenues 99 144 Income taxes payable 1,080 1,472 Long-term debt 14,484 13,537 Held for sale liabilities 38 119 Other liabilities 4,130 3,863 Total liabilities 29,459 31,001 Commitments and contingencies (Note 7) Stockholders’ equity: Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding — — Common stock and paid-in capital, $0.0001 par value; 6,000 shares authorized; 1,114 and 1,121 shares issued and outstanding, respectively 490 195 Retained earnings 20,733 17,840 Accumulated other comprehensive income (loss) 358 (22) Total stockholders’ equity 21,581 18,013 Total liabilities and stockholders’ equity $ 51,040 $ 49,014" ]

[ "QUALCOMM Incorporated CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (In millions, except per share data) Year Ended September 24, 2023 September 25, 2022 September 26, 2021 Total stockholders’ equity, beginning balance $ 18,013 $ 9,950 $ 6,077 Common stock and paid-in capital: Balance at beginning of period 195 — 586 Common stock issued under employee benefit plans 434 356 345 Repurchases and retirements of common stock (2,218) (1,514) (1,958) Share-based compensation 2,600 2,119 1,754 Tax withholdings related to vesting of share-based payments (521) (766) (737) Stock awards assumed in acquisition — — 10 Balance at end of period 490 195 — Retained earnings: Balance at beginning of period 17,840 9,822 5,284 Net income 7,232 12,936 9,043 Repurchases and retirements of common stock (755) (1,615) (1,408) Dividends (3,584) (3,303) (3,097) Balance at end of period 20,733 17,840 9,822 Accumulated other comprehensive income (loss): Balance at beginning of period (22) 128 207 Other comprehensive income (loss) 380 (150) (79) Balance at end of period 358 (22) 128 Total stockholders’ equity, ending balance $ 21,581 $ 18,013 $ 9,950 Dividends per share announced $ 3.10 $ 2.86 $ 2.66" ]

[ "Inventories (in millions) September 24, 2023 September 25, 2022 Raw materials $ 176 $ 221 Work-in-process 4,096 3,329 Finished goods 2,150 2,791 $ 6,422 $ 6,341" ]

[ "The following table provides a summary of our long-term debt and current portion of long-term debt: September 24, 2023 September 25, 2022 Maturities Amount (in millions) Effective Rate Maturities Amount (in millions) Effective Rate May 2015 Notes 2025 - 2045 $ 3,865 3.46% - 4.73% 2025 - 2045 $ 3,865 3.46% - 4.73% May 2017 Notes 2024 - 2047 4,414 3.00% - 4.45% 2023 - 2047 5,860 2.68% - 4.46% May 2020 Notes 2030 - 2050 2,000 3.22% - 3.30% 2030 - 2050 2,000 2.97% - 3.30% August 2020 Notes 2028 - 2032 2,207 2.65% - 3.89% 2028 - 2032 2,207 2.50% - 3.52% May 2022 Notes 2032 - 2052 1,500 3.15% - 4.27% 2032 - 2052 1,500 3.13% - 4.26% November 2022 Notes 2033 - 2053 1,900 3.47% - 5.02% — Total principal 15,886 15,432 Unamortized discount, including debt issuance costs (238) (241) Hedge accounting adjustments (250) (208) Total long-term debt $ 15,398 $ 14,983 Reported as: Short-term debt $ 914 $ 1,446 Long-term debt 14,484 13,537 Total $ 15,398 $ 14,983" ]

[ "We had deferred tax assets and deferred tax liabilities as follows (in millions): September 24, 2023 September 25, 2022 Unused tax credits $ 1,819 $ 1,624 Capitalized research and development expenditures 1,490 — Customer incentives 659 807 Accrued liabilities and reserves 401 264 Unused net operating losses 364 887 Share-based compensation 285 225 Operating lease liabilities 216 202 Unrealized losses on other investments and marketable securities 159 197 Other 409 435 Total gross deferred tax assets 5,802 4,641 Valuation allowance (1,803) (2,223) Total net deferred tax assets 3,999 2,418 Intangible assets (335) (315) Operating lease assets (194) (184) Unrealized gains on other investments and marketable securities (101) (84) Property, plant and equipment (52) (101) Other (118) (98) Total deferred tax liabilities (800) (782) Net deferred tax assets $ 3,199 $ 1,636 Reported as: Non-current deferred tax assets $ 3,310 $ 1,803 Non-current deferred tax liabilities (1) (111) (167) $ 3,199 $ 1,636" ]

[ "QUALCOMM Incorporated CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended September 24, 2023 September 25, 2022 September 26, 2021 Operating Activities: Net income from continuing operations $ 7,339 $ 12,986 $ 9,043 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization expense 1,809 1,762 1,582 Indefinite and long-lived asset impairment charges 182 2 5 Income tax provision less than income tax payments (1,269) (138) (245) Share-based compensation expense 2,484 2,031 1,663 Net (gains) losses on marketable securities and other investments (152) 432 (1,002) Impairment losses on other investments 132 47 33 Other items, net 25 (56) (82) Changes in assets and liabilities: Accounts receivable, net 2,472 (2,066) 426 Inventories 8 (3,137) (622) Other assets 603 (2,266) (1,649) Trade accounts payable (1,880) 1,036 495 Payroll, benefits and other liabilities 1 (1,043) 1,091 Unearned revenues (56) (324) (202) Net cash used by operating activities from discontinued operations (399) (170) — Net cash provided by operating activities 11,299 9,096 10,536 Investing Activities: Capital expenditures (1,450) (2,262) (1,888) Purchases of debt and equity marketable securities (668) (1,414) (5,907) Proceeds from sales and maturities of debt and equity marketable securities 1,566 2,622 5,555 Acquisitions and other investments, net of cash acquired (235) (4,912) (1,377) Proceeds from sales of property, plant and equipment 127 5 3 Proceeds from other investments 20 132 320 Other items, net 19 41 (62) Net cash provided (used) by investing activities from discontinued operations 1,383 (16) — Net cash provided (used) by investing activities 762 (5,804) (3,356) Financing Activities: Proceeds from short-term debt 5,068 7,000 2,886 Repayment of short-term debt (5,566) (7,003) (2,885) Repayment of debt of acquired company — (349) — Proceeds from long-term debt 1,880 1,477 — Repayment of long-term debt (1,446) (1,540) — Proceeds from issuance of common stock 434 356 347 Repurchases and retirements of common stock (2,973) (3,129) (3,366) Dividends paid (3,462) (3,212) (3,008) Payments of tax withholdings related to vesting of share-based awards (521) (766) (737) Other items, net (19) (34) (35) Net cash (used) provided by financing activities from discontinued operations (58) 4 — Net cash used by financing activities (6,663) (7,196) (6,798) Effect of exchange rate changes on cash and cash equivalents 30 (113) 27 Net increase (decrease) in total cash and cash equivalents 5,428 (4,017) 409 Total cash and cash equivalents at beginning of period (including $326 classified as held for sale at September 25, 2022) 3,099 7,116 6,707 Total cash and cash equivalents at end of period (including $77 and $326 classified as held for sale at September 24, 2023 and September 25, 2022, respectively) $ 8,527 $ 3,099 $ 7,116" ]

[ "Shares Outstanding. Shares of common stock outstanding at September 24, 2023 were as follows (in millions): Balance at beginning of period 1,121 Issued 18 Repurchased (25) Balance at end of period 1,114" ]

[ "QUALCOMM Incorporated NOTES TO CONSOLIDATED FINANCIAL STATEMENTS At September 24, 2023, future lease payments under our operating leases were as follows (in millions): September 24, 2023 2024 $ 116 2025 111 2026 104 2027 100 2028 83 Thereafter 358 Total future lease payments 872 Imputed interest (203) Total lease liability balance $ 669" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Note 15. Information about Segments and Geographic Areas We report our segment results as Google Services, Google Cloud, and Other Bets: • Google Services includes products and services such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube. Google Services generates revenues primarily from advertising; sales of apps and in-app purchases, digital content products, and hardware; and fees received for subscription-based products such as YouTube Premium and YouTube TV. • Google Cloud includes Google’s infrastructure and platform services, collaboration tools, and other services for enterprise customers. Google Cloud generates revenues from fees received for Google Cloud Platform services, Google Workspace collaboration tools and other enterprise services. • Other Bets is a combination of multiple operating segments that are not individually material. Revenues from Other Bets are generated primarily from the sale of health technology and internet services. Revenues, certain costs, such as costs associated with content and traffic acquisition, certain engineering activities, and hardware, as well as certain operating expenses are directly attributable to our segments. Due to the integrated nature of Alphabet, other costs and expenses, such as technical infrastructure and office facilities, are managed centrally at a consolidated level. The associated costs, including depreciation and impairment, are allocated to operating segments as a service cost generally based on usage or headcount. 84 Table of Contents Alphabet Inc. Unallocated corporate costs primarily include corporate initiatives, corporate shared costs, such as finance and legal, including certain fines and settlements, as well as costs associated with certain shared R&D activities. Additionally, hedging gains (losses) related to revenue are included in corporate costs. Our operating segments are not evaluated using asset information. Information about segments during the periods presented were as follows (in millions). For comparative purposes, amounts in prior periods have been recast: Year Ended December 31, 2019 2020 2021 Revenues: Google Services $ 151,825 $ 168,635 $ 237,529 Google Cloud 8,918 13,059 19,206 Other Bets 659 657 753 Hedging gains (losses) 455 176 149 Total revenues $ 161,857 $ 182,527 $ 257,637 Operating income (loss): Google Services $ 48,999 $ 54,606 $ 91,855 Google Cloud (4,645) (5,607) (3,099) Other Bets (4,824) (4,476) (5,281) Corporate costs, unallocated (5,299) (3,299) (4,761) Total income from operations $ 34,231 $ 41,224 $ 78,714" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20", "Other Income (Expense), Net Components of other income (expense), net, were as follows (in millions): Year Ended December 31, 2019 2020 2021 Interest income $ 2,427 $ 1,865 $ 1,499 Interest expense (100) (135) (346) Foreign currency exchange gain (loss), net 103 (344) (240) Gain (loss) on debt securities, net 149 725 (110) Gain (loss) on equity securities, net 2,649 5,592 12,380 Performance fees (326) (609) (1,908) Income (loss) and impairment from equity method investments, net 390 401 334 Other 102 (637) 411 Other income (expense), net $ 5,394 $ 6,858 $ 12,020" ]

[ "Other Income (Expense), Net Components of other income (expense), net, were as follows (in millions): Year Ended December 31, 2019 2020 2021 Interest income $ 2,427 $ 1,865 $ 1,499 Interest expense (100) (135) (346) Foreign currency exchange gain (loss), net 103 (344) (240) Gain (loss) on debt securities, net 149 725 (110) Gain (loss) on equity securities, net 2,649 5,592 12,380 Performance fees (326) (609) (1,908) Income (loss) and impairment from equity method investments, net 390 401 334 Other 102 (637) 411 Other income (expense), net $ 5,394 $ 6,858 $ 12,020" ]

[ "Research and Development The following table presents R&D expenses (in millions, except percentages): Year Ended December 31, 2020 2021 Research and development expenses $ 27,573 $ 31,562 Research and development expenses as a percentage of revenues 15.1 % 12.3 %" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268" ]

[ "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268" ]

[ "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268" ]

[ "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268", "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412", "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268" ]

[ "Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2020 2021 Assets Current assets: Cash and cash equivalents $ 26,465 $ 20,945 Marketable securities 110,229 118,704 Total cash, cash equivalents, and marketable securities 136,694 139,649 Accounts receivable, net 30,930 39,304 Income taxes receivable, net 454 966 Inventory 728 1,170 Other current assets 5,490 7,054 Total current assets 174,296 188,143 Non-marketable securities 20,703 29,549 Deferred income taxes 1,084 1,284 Property and equipment, net 84,749 97,599 Operating lease assets 12,211 12,959 Intangible assets, net 1,445 1,417 Goodwill 21,175 22,956 Other non-current assets 3,953 5,361 Total assets $ 319,616 $ 359,268 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,589 $ 6,037 Accrued compensation and benefits 11,086 13,889 Accrued expenses and other current liabilities 28,631 31,236 Accrued revenue share 7,500 8,996 Deferred revenue 2,543 3,288 Income taxes payable, net 1,485 808 Total current liabilities 56,834 64,254 Long-term debt 13,932 14,817 Deferred revenue, non-current 481 535 Income taxes payable, non-current 8,849 9,176 Deferred income taxes 3,561 5,257 Operating lease liabilities 11,146 11,389 Other long-term liabilities 2,269 2,205 Total liabilities 97,072 107,633 Contingencies (Note 10) Stockholders’ equity: Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding 0 0 Class A and Class B common stock, and Class C capital stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 675,222 (Class A 300,730, Class B 45,843, Class C 328,649) and 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) shares issued and outstanding 58,510 61,774 Accumulated other comprehensive income (loss) 633 (1,623) Retained earnings 163,401 191,484 Total stockholders’ equity 222,544 251,635 Total liabilities and stockholders’ equity $ 319,616 $ 359,268" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2019 2020 2021 Operating activities Net income $ 34,343 $ 40,269 $ 76,033 Adjustments: Depreciation and impairment of property and equipment 10,856 12,905 11,555 Amortization and impairment of intangible assets 925 792 886 Stock-based compensation expense 10,794 12,991 15,376 Deferred income taxes 173 1,390 1,808 Gain on debt and equity securities, net (2,798) (6,317) (12,270) Other (592) 1,267 (213) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable (4,340) (6,524) (9,095) Income taxes, net (3,128) 1,209 (625) Other assets (621) (1,330) (1,846) Accounts payable 428 694 283 Accrued expenses and other liabilities 7,170 5,504 7,304 Accrued revenue share 1,273 1,639 1,682 Deferred revenue 37 635 774 Net cash provided by operating activities 54,520 65,124 91,652 Investing activities Purchases of property and equipment (23,548) (22,281) (24,640) Purchases of marketable securities (100,315) (136,576) (135,196) Maturities and sales of marketable securities 97,825 132,906 128,294 Purchases of non-marketable securities (1,932) (7,175) (2,838) Maturities and sales of non-marketable securities 405 1,023 934 Acquisitions, net of cash acquired, and purchases of intangible assets (2,515) (738) (2,618) Other investing activities 589 68 541 Net cash used in investing activities (29,491) (32,773) (35,523) Financing activities Net payments related to stock-based award activities (4,765) (5,720) (10,162) Repurchases of common and capital stock (18,396) (31,149) (50,274) Proceeds from issuance of debt, net of costs 317 11,761 20,199 Repayments of debt (585) (2,100) (21,435) Proceeds from sale of interest in consolidated entities, net 220 2,800 310 Net cash used in financing activities (23,209) (24,408) (61,362) Effect of exchange rate changes on cash and cash equivalents (23) 24 (287) Net increase (decrease) in cash and cash equivalents 1,797 7,967 (5,520) Cash and cash equivalents at beginning of period 16,701 18,498 26,465 Cash and cash equivalents at end of period $ 18,498 $ 26,465 $ 20,945 Supplemental disclosures of cash flow information Cash paid for income taxes, net of refunds $ 8,203 $ 4,990 $ 13,412" ]

[ "Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) Year Ended December 31, 2019 2020 2021 Revenues $ 161,857 $ 182,527 $ 257,637 Costs and expenses: Cost of revenues 71,896 84,732 110,939 Research and development 26,018 27,573 31,562 Sales and marketing 18,464 17,946 22,912 General and administrative 9,551 11,052 13,510 European Commission fines 1,697 0 0 Total costs and expenses 127,626 141,303 178,923 Income from operations 34,231 41,224 78,714 Other income (expense), net 5,394 6,858 12,020 Income before income taxes 39,625 48,082 90,734 Provision for income taxes 5,282 7,813 14,701 Net income $ 34,343 $ 40,269 $ 76,033 Basic net income per share of Class A and B common stock and Class C capital stock $ 49.59 $ 59.15 $ 113.88 Diluted net income per share of Class A and B common stock and Class C capital stock $ 49.16 $ 58.61 $ 112.20" ]

[ "The following table presents revenues disaggregated by geography, based on the addresses of our customers (in millions): Year Ended December 31, 2019 2020 2021 United States $ 74,843 46 % $ 85,014 47 % $ 117,854 46 % EMEA 50,645 31 55,370 30 79,107 31 APAC 26,928 17 32,550 18 46,123 18 Other Americas 8,986 6 9,417 5 14,404 5 Hedging gains (losses) 455 0 176 0 149 0 Total revenues $ 161,857 100 % $ 182,527 100 % $ 257,637 100 %" ]

[ "Gains and losses on marketable and non-marketable equity securities Gains and losses reflected in other income (expense), net, for marketable and non-marketable equity securities are summarized below (in millions): Year Ended December 31, 2020 2021 Net gain (loss) on equity securities sold during the period $ 1,339 $ 1,196 Unrealized gain (loss) on equity securities held as of the end of the period 4,253 11,184 Total gain (loss) recognized in other income (expense), net $ 5,592 $ 12,380" ]

[ "Property and Equipment, Net Property and equipment, net, consisted of the following (in millions): As of December 31, 2020 2021 Land and buildings $ 49,732 $ 58,881 Information technology assets 45,906 55,606 Construction in progress 23,111 23,171 Leasehold improvements 7,516 9,146 Furniture and fixtures 197 208 Property and equipment, gross 126,462 147,012 Less: accumulated depreciation (41,713) (49,414) Property and equipment, net $ 84,749 $ 97,599" ]

[ "Accrued expenses and other current liabilities Accrued expenses and other current liabilities consisted of the following (in millions): As of December 31, 2020 2021 European Commission fines $ 10,409 $ 9,799 Payables to brokers for unsettled investment trades 754 397 Accrued customer liabilities 3,118 3,505 Accrued purchases of property and equipment 2,197 2,415 Current operating lease liabilities 1,694 2,189 Other accrued expenses and current liabilities 10,459 12,931 Accrued expenses and other current liabilities $ 28,631 $ 31,236" ]

[ "Year Ended December 31, 2021 Class A Class B Class C Basic net income per share: Numerator Allocation of undistributed earnings $ 34,200 $ 5,174 $ 36,659 Denominator Number of shares used in per share computation 300,310 45,430 321,910 Basic net income per share $ 113.88 $ 113.88 $ 113.88 Diluted net income per share: Numerator Allocation of undistributed earnings for basic computation $ 34,200 $ 5,174 $ 36,659 Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares 5,174 0 0 Reallocation of undistributed earnings (581) (77) 581 Allocation of undistributed earnings $ 38,793 $ 5,097 $ 37,240 Denominator Number of shares used in basic computation 300,310 45,430 321,910 Weighted-average effect of dilutive securities Add: Conversion of Class B to Class A shares outstanding 45,430 0 0 Restricted stock units and other contingently issuable shares 15 0 10,009 Number of shares used in per share computation 345,755 45,430 331,919 Diluted net income per share $ 112.20 $ 112.20 $ 112.20" ]

[ "Stock-Based Award Activities The following table summarizes the activities for unvested Alphabet RSUs for the year ended December 31, 2021: Unvested Restricted Stock Units Number of Shares WeightedAverage Grant-Date Fair Value Unvested as of December 31, 2020 19,288,793 $ 1,262.13 Granted 10,582,700 $ 1,949.16 Vested (11,209,486) $ 1,345.98 Forfeited/canceled (1,767,294) $ 1,425.48 Unvested as of December 31, 2021 16,894,713 $ 1,626.13" ]

[ "Executive Overview The following table summarizes consolidated financial results for the years ended December 31, 2020 and 2021 unless otherwise specified (in millions, except for per share information and percentages): Year Ended December 31, 2020 2021 $ Change % Change Consolidated revenues $ 182,527 $ 257,637 $ 75,110 41 % Change in consolidated constant currency revenues 39 % Cost of revenues $ 84,732 $ 110,939 $ 26,207 31 % Operating expenses $ 56,571 $ 67,984 $ 11,413 20 % Operating income $ 41,224 $ 78,714 $ 37,490 91 % Operating margin 23 % 31 % 8 % Other income (expense), net $ 6,858 $ 12,020 $ 5,162 75 % Net Income $ 40,269 $ 76,033 $ 35,764 89 % Diluted EPS $ 58.61 $ 112.20 $ 53.59 91 % Number of Employees 135,301 156,500 21,199 16 %" ]

[ "Debt Securities We classify our marketable debt securities, which are accounted for as available-for-sale within Level 2 in the fair value hierarchy, because we use quoted market prices to the extent available or alternative pricing sources and models utilizing market observable inputs to determine fair value. For certain marketable debt securities, we have elected the fair value option for which changes in fair value are recorded in other income (expense), net. The fair value option was elected for these securities to align with the unrealized gains and losses from related derivative contracts. Unrealized net gains (losses) related to debt securities still held where we have elected the fair value option were $87 million and $(35) million as of December 31, 2020 and December 31, 2021, respectively. As of December 31, 2020 and December 31, 2021, the fair value of these debt securities was $2.0 billion and $4.7 billion, respectively. (1) (1) (1) (1) 61 Table of Contents Alphabet Inc. The following tables summarize debt securities, for which we did not elect the fair value option, by significant investment categories as of December 31, 2020 and 2021 (in millions): As of December 31, 2020 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Level 2: Time deposits $ 3,564 $ 0 $ 0 $ 3,564 $ 3,564 $ 0 Government bonds 55,156 793 (9) 55,940 2,527 53,413 Corporate debt securities 31,521 704 (2) 32,223 8 32,215 Mortgage-backed and asset-backed securities 16,767 364 (7) 17,124 0 17,124 Total $ 107,008 $ 1,861 $ (18) $ 108,851 $ 6,099 $ 102,752 As of December 31, 2021 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Level 2: Time deposits $ 5,133 $ 0 $ 0 $ 5,133 $ 5,133 $ 0 Government bonds 53,288 258 (238) 53,308 5 53,303 Corporate debt securities 35,605 194 (223) 35,576 12 35,564 Mortgage-backed and asset-backed securities 18,829 96 (112) 18,813 0 18,813 Total $ 112,855 $ 548 $ (573) $ 112,830 $ 5,150 $ 107,680" ]

[ "The following table summarizes the estimated fair value of investments in marketable debt securities by stated contractual maturity dates (in millions): As of December 31, 2021 Due in 1 year or less $ 16,192 Due in 1 year through 5 years 78,625 Due in 5 years through 10 years 4,675 Due after 10 years 12,864 Total $ 112,356" ]

[ "Carrying value of marketable and non-marketable equity securities The carrying value is measured as the total initial cost plus the cumulative net gain (loss). The carrying values for marketable and non-marketable equity securities are summarized below (in millions): As of December 31, 2020 Marketable Equity Securities Non-Marketable Equity Securities Total Total initial cost $ 2,227 $ 14,616 $ 16,843 Cumulative net gain (loss) 3,631 4,277 7,908 Carrying value $ 5,858 $ 18,893 $ 24,751 Non-marketable equity securities cumulative net gain (loss) is comprised of $6.1 billion gains and $1.9 billion losses (including impairment). The long-term portion of marketable equity securities (subject to long-term lock-up restrictions) of $429 million is included within other non-current assets. As of December 31, 2021 Marketable Equity Securities Non-Marketable Equity Securities Total Total initial cost $ 4,211 $ 15,135 $ 19,346 Cumulative net gain (loss) 3,587 12,436 16,023 Carrying value $ 7,798 $ 27,571 $ 35,369" ]

[ "Other Derivatives Other derivatives not designated as hedging instruments consist primarily of foreign currency forward contracts that we use to hedge intercompany transactions and other monetary assets or liabilities denominated in currencies other than the functional currency of a subsidiary. Gains and losses on these contracts, as well as the related costs, are recognized in other income (expense), net, along with the foreign currency gains and losses on monetary assets and liabilities. We also use derivatives not designated as hedging instruments to manage risks relating to interest rates, commodity prices, credit exposures and to enhance investment returns. Additionally, from time to time, we enter into derivatives to hedge the market price risk on certain of our marketable equity securities. Gains (losses) arising from these derivatives are reflected within the \"other\" component of other income (expense), net and the offsetting recognized gains (losses) on the marketable equity securities are reflected within the gain (loss) on equity securities, net component of other income (expense), net. See Note 7 for further details on other income (expense), net. The gross notional amounts of outstanding derivative instruments were as follows (in millions): As of December 31, 2020 2021 Derivatives Designated as Hedging Instruments: Foreign exchange contracts Cash flow hedges $ 10,187 $ 16,362 Fair value hedges $ 1,569 $ 2,556 Net investment hedges $ 9,965 $ 10,159 Derivatives Not Designated as Hedging Instruments: Foreign exchange contracts $ 39,861 $ 41,031 Other contracts $ 2,399 $ 4,275" ]

[ "Note 4. Leases We have entered into operating lease agreements primarily for data centers, land and offices throughout the world with lease periods expiring between 2022 and 2063. Components of operating lease expense were as follows (in millions): Year Ended December 31, 2020 2021 Operating lease cost $ 2,267 $ 2,699 Variable lease cost 619 726 Total operating lease cost $ 2,886 $ 3,425" ]

[ "Goodwill Changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2021 were as follows (in millions): Google Google Services Google Cloud Other Bets Total Balance as of December 31, 2019 $ 19,921 $ 0 $ 0 $ 703 $ 20,624 Acquisitions 204 53 189 0 446 Foreign currency translation and other adjustments 46 56 5 (2) 105 Allocation in the fourth quarter of 2020 (20,171) 18,408 1,763 0 0 Balance as of December 31, 2020 0 18,517 1,957 701 21,175 Acquisitions 0 1,325 382 103 1,810 Foreign currency translation and other adjustments 0 (16) (2) (11) (29) Balance as of December 31, 2021 $ 0 $ 19,826 $ 2,337 $ 793 $ 22,956" ]

[ "Other Intangible Assets Information regarding purchased intangible assets was as follows (in millions): As of December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Patents and developed technology $ 4,639 $ 3,649 $ 990 Customer relationships 266 49 217 Trade names and other 624 461 163 Total definite-lived intangible assets 5,529 4,159 1,370 Indefinite-lived intangible assets 75 0 75 Total intangible assets $ 5,604 $ 4,159 $ 1,445 As of December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Value Patents and developed technology $ 4,786 $ 4,112 $ 674 Customer relationships 506 140 366 Trade names and other 534 295 239 Total definite-lived intangible assets 5,826 4,547 1,279 Indefinite-lived intangible assets 138 0 138 Total intangible assets $ 5,964 $ 4,547 $ 1,417" ]

[ "Other Intangible Assets Information regarding purchased intangible assets was as follows (in millions): As of December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Patents and developed technology $ 4,639 $ 3,649 $ 990 Customer relationships 266 49 217 Trade names and other 624 461 163 Total definite-lived intangible assets 5,529 4,159 1,370 Indefinite-lived intangible assets 75 0 75 Total intangible assets $ 5,604 $ 4,159 $ 1,445 As of December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Value Patents and developed technology $ 4,786 $ 4,112 $ 674 Customer relationships 506 140 366 Trade names and other 534 295 239 Total definite-lived intangible assets 5,826 4,547 1,279 Indefinite-lived intangible assets 138 0 138 Total intangible assets $ 5,964 $ 4,547 $ 1,417" ]

[ "Note 14. Income Taxes Income from continuing operations before income taxes consisted of the following (in millions): Year Ended December 31, 2019 2020 2021 Domestic operations $ 16,426 $ 37,576 $ 77,016 Foreign operations 23,199 10,506 13,718 Total $ 39,625 $ 48,082 $ 90,734" ]

[ "Deferred Income Taxes Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities were as follows (in millions): As of December 31, 2020 2021 Deferred tax assets: Accrued employee benefits $ 580 $ 549 Accruals and reserves not currently deductible 1,049 1,816 Tax credits 3,723 5,179 Net operating losses 1,085 1,790 Operating leases 2,620 2,503 Intangible assets 1,525 2,034 Other 981 925 Total deferred tax assets 11,563 14,796 Valuation allowance (4,823) (7,129) Total deferred tax assets net of valuation allowance 6,740 7,667 Deferred tax liabilities: Property and equipment, net (3,382) (5,237) Net investment gains (1,901) (3,229) Operating leases (2,354) (2,228) Other (1,580) (946) Total deferred tax liabilities (9,217) (11,640) Net deferred tax assets (liabilities) $ (2,477) $ (3,973)" ]

[ "Our products are marketed around the world, with the United States as our largest market. The following chart shows our product sales by principal\n product, and the table below (dollar amounts in millions) shows product sales by geography for the years 2023, 2022 and 2021.\n 2023\n 2022\n 2021\n Product Sales by Geography:\n U.S.\n $\n 19,272 \n 72 % $\n 17,743 \n 72 % $\n 17,286 \n 71 %\n ROW 7,638 28 % 7,058 28 % 7,011 29 %\n Total\n $ 26,910 \n 100 % $\n 24,801 \n 100 % $\n 24,297 \n 100 %" ]

[ " Product sales\n Worldwide product sales were as follows (dollar amounts in millions):\n Year ended\n December 31, 2023 Change\n Year ended\n December 31, 2022 Change\n Year ended\n December 31, 2021\n Prolia $ 4,048 12 % $ 3,628 12 % $ 3,248 \n ENBREL 3,697 (10)% 4,117 (8)% 4,465 \n Otezla 2,188 (4)% 2,288 2 % 2,249 \n XGEVA 2,112 5 % 2,014 — % 2,018 \n Repatha 1,635 26 % 1,296 16 % 1,117 \n Nplate 1,477 13 % 1,307 27 % 1,027 \n KYPROLIS 1,403 13 % 1,247 13 % 1,108 \n Aranesp 1,362 (4)% 1,421 (4)% 1,480 \n EVENITY 1,160 47 % 787 48 % 530 \n Vectibix 984 10 % 893 2 % 873 \n BLINCYTO 861 48 % 583 24 % 472 \n TEPEZZA 448 NM — NM — \n KRYSTEXXA 272 NM — NM — \n Other products 5,263 1 % 5,220 (9)% 5,710 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 \n Total U.S. $ 19,272 9 % $ 17,743 3 % $ 17,286 \n Total ROW 7,638 8 % 7,058 1 % 7,011 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 " ]

[ " Product sales\n Worldwide product sales were as follows (dollar amounts in millions):\n Year ended\n December 31, 2023 Change\n Year ended\n December 31, 2022 Change\n Year ended\n December 31, 2021\n Prolia $ 4,048 12 % $ 3,628 12 % $ 3,248 \n ENBREL 3,697 (10)% 4,117 (8)% 4,465 \n Otezla 2,188 (4)% 2,288 2 % 2,249 \n XGEVA 2,112 5 % 2,014 — % 2,018 \n Repatha 1,635 26 % 1,296 16 % 1,117 \n Nplate 1,477 13 % 1,307 27 % 1,027 \n KYPROLIS 1,403 13 % 1,247 13 % 1,108 \n Aranesp 1,362 (4)% 1,421 (4)% 1,480 \n EVENITY 1,160 47 % 787 48 % 530 \n Vectibix 984 10 % 893 2 % 873 \n BLINCYTO 861 48 % 583 24 % 472 \n TEPEZZA 448 NM — NM — \n KRYSTEXXA 272 NM — NM — \n Other products 5,263 1 % 5,220 (9)% 5,710 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 \n Total U.S. $ 19,272 9 % $ 17,743 3 % $ 17,286 \n Total ROW 7,638 8 % 7,058 1 % 7,011 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 " ]

[ " Product sales\n Worldwide product sales were as follows (dollar amounts in millions):\n Year ended\n December 31, 2023 Change\n Year ended\n December 31, 2022 Change\n Year ended\n December 31, 2021\n Prolia $ 4,048 12 % $ 3,628 12 % $ 3,248 \n ENBREL 3,697 (10)% 4,117 (8)% 4,465 \n Otezla 2,188 (4)% 2,288 2 % 2,249 \n XGEVA 2,112 5 % 2,014 — % 2,018 \n Repatha 1,635 26 % 1,296 16 % 1,117 \n Nplate 1,477 13 % 1,307 27 % 1,027 \n KYPROLIS 1,403 13 % 1,247 13 % 1,108 \n Aranesp 1,362 (4)% 1,421 (4)% 1,480 \n EVENITY 1,160 47 % 787 48 % 530 \n Vectibix 984 10 % 893 2 % 873 \n BLINCYTO 861 48 % 583 24 % 472 \n TEPEZZA 448 NM — NM — \n KRYSTEXXA 272 NM — NM — \n Other products 5,263 1 % 5,220 (9)% 5,710 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 \n Total U.S. $ 19,272 9 % $ 17,743 3 % $ 17,286 \n Total ROW 7,638 8 % 7,058 1 % 7,011 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 " ]

[ "The following is an overview of our results of operations (in millions, except percentages and per-share data):\n Year ended December 31,\n 2023\n Change\n Year ended December 31,\n 2022\n Product sales:\n U.S.\n $\n 19,272 \n 9 % $\n 17,743 \n ROW 7,638 8 % 7,058 \n Total product sales\n 26,910 \n Other revenues\n 9 %\n 24,801 \n 1,280 \n Total revenues\n (16)%\n 1,522 \n $ 28,190 7 % $ 26,323 \n Operating expenses\n $\n Operating income\n Net income\n $\n 20,293 \n 7,897 \n 21 % $\n (17)% $\n 16,757 \n 9,566 \n $\n Diluted EPS\n Diluted shares\n $\n 6,717 \n 12.49 \n 3 % $\n 3 % $\n 6,552 \n 12.11 \n 538 \n (1)%\n 541 " ]

[ "AMGEN INC.\n CONSOLIDATED STATEMENTS OF INCOME\n Years ended December 31, 2023, 2022 and 2021\n (In millions, except per-share data)\n 2023 2022 2021\n Revenues:\n Product sales $ 26,910 $ 24,801 $ 24,297 \n Other revenues 1,280 1,522 1,682 \n Total revenues 28,190 26,323 25,979 \n Operating expenses:\n Cost of sales 8,451 6,406 6,454 \n Research and development 4,784 4,434 4,819 \n Acquired in-process research and development — — 1,505 \n Selling, general and administrative 6,179 5,414 5,368 \n Other 879 503 194 \n Total operating expenses 20,293 16,757 18,340 \n Operating income 7,897 9,566 7,639 \n Other income (expense):\n Interest expense, net (2,875) (1,406) (1,197)\n Other income (expense), net 2,833 (814) 259 \n Income before income taxes 7,855 7,346 6,701 \n Provision for income taxes 1,138 794 808 \n Net income $ 6,717 $ 6,552 $ 5,893 \n Earnings per share:\n Basic $ 12.56 $ 12.18 $ 10.34 \n Diluted $ 12.49 $ 12.11 $ 10.28 \n Shares used in the calculation of earnings per share:\n Basic 535 538 570\n Diluted 538 541 573" ]

[ " Product sales\n Worldwide product sales were as follows (dollar amounts in millions):\n Year ended\n December 31, 2023 Change\n Year ended\n December 31, 2022 Change\n Year ended\n December 31, 2021\n Prolia $ 4,048 12 % $ 3,628 12 % $ 3,248 \n ENBREL 3,697 (10)% 4,117 (8)% 4,465 \n Otezla 2,188 (4)% 2,288 2 % 2,249 \n XGEVA 2,112 5 % 2,014 — % 2,018 \n Repatha 1,635 26 % 1,296 16 % 1,117 \n Nplate 1,477 13 % 1,307 27 % 1,027 \n KYPROLIS 1,403 13 % 1,247 13 % 1,108 \n Aranesp 1,362 (4)% 1,421 (4)% 1,480 \n EVENITY 1,160 47 % 787 48 % 530 \n Vectibix 984 10 % 893 2 % 873 \n BLINCYTO 861 48 % 583 24 % 472 \n TEPEZZA 448 NM — NM — \n KRYSTEXXA 272 NM — NM — \n Other products 5,263 1 % 5,220 (9)% 5,710 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 \n Total U.S. $ 19,272 9 % $ 17,743 3 % $ 17,286 \n Total ROW 7,638 8 % 7,058 1 % 7,011 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 " ]

[ "AMGEN INC.\n CONSOLIDATED STATEMENTS OF INCOME\n Years ended December 31, 2023, 2022 and 2021\n (In millions, except per-share data)\n 2023 2022 2021\n Revenues:\n Product sales $ 26,910 $ 24,801 $ 24,297 \n Other revenues 1,280 1,522 1,682 \n Total revenues 28,190 26,323 25,979 \n Operating expenses:\n Cost of sales 8,451 6,406 6,454 \n Research and development 4,784 4,434 4,819 \n Acquired in-process research and development — — 1,505 \n Selling, general and administrative 6,179 5,414 5,368 \n Other 879 503 194 \n Total operating expenses 20,293 16,757 18,340 \n Operating income 7,897 9,566 7,639 \n Other income (expense):\n Interest expense, net (2,875) (1,406) (1,197)\n Other income (expense), net 2,833 (814) 259 \n Income before income taxes 7,855 7,346 6,701 \n Provision for income taxes 1,138 794 808 \n Net income $ 6,717 $ 6,552 $ 5,893 \n Earnings per share:\n Basic $ 12.56 $ 12.18 $ 10.34 \n Diluted $ 12.49 $ 12.11 $ 10.28 \n Shares used in the calculation of earnings per share:\n Basic 535 538 570\n Diluted 538 541 573" ]

[ "AMGEN INC.\n CONSOLIDATED STATEMENTS OF INCOME\n Years ended December 31, 2023, 2022 and 2021\n (In millions, except per-share data)\n 2023 2022 2021\n Revenues:\n Product sales $ 26,910 $ 24,801 $ 24,297 \n Other revenues 1,280 1,522 1,682 \n Total revenues 28,190 26,323 25,979 \n Operating expenses:\n Cost of sales 8,451 6,406 6,454 \n Research and development 4,784 4,434 4,819 \n Acquired in-process research and development — — 1,505 \n Selling, general and administrative 6,179 5,414 5,368 \n Other 879 503 194 \n Total operating expenses 20,293 16,757 18,340 \n Operating income 7,897 9,566 7,639 \n Other income (expense):\n Interest expense, net (2,875) (1,406) (1,197)\n Other income (expense), net 2,833 (814) 259 \n Income before income taxes 7,855 7,346 6,701 \n Provision for income taxes 1,138 794 808 \n Net income $ 6,717 $ 6,552 $ 5,893 \n Earnings per share:\n Basic $ 12.56 $ 12.18 $ 10.34 \n Diluted $ 12.49 $ 12.11 $ 10.28 \n Shares used in the calculation of earnings per share:\n Basic 535 538 570\n Diluted 538 541 573" ]

[ " Product sales\n Worldwide product sales were as follows (dollar amounts in millions):\n Year ended\n December 31, 2023 Change\n Year ended\n December 31, 2022 Change\n Year ended\n December 31, 2021\n Prolia $ 4,048 12 % $ 3,628 12 % $ 3,248 \n ENBREL 3,697 (10)% 4,117 (8)% 4,465 \n Otezla 2,188 (4)% 2,288 2 % 2,249 \n XGEVA 2,112 5 % 2,014 — % 2,018 \n Repatha 1,635 26 % 1,296 16 % 1,117 \n Nplate 1,477 13 % 1,307 27 % 1,027 \n KYPROLIS 1,403 13 % 1,247 13 % 1,108 \n Aranesp 1,362 (4)% 1,421 (4)% 1,480 \n EVENITY 1,160 47 % 787 48 % 530 \n Vectibix 984 10 % 893 2 % 873 \n BLINCYTO 861 48 % 583 24 % 472 \n TEPEZZA 448 NM — NM — \n KRYSTEXXA 272 NM — NM — \n Other products 5,263 1 % 5,220 (9)% 5,710 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 \n Total U.S. $ 19,272 9 % $ 17,743 3 % $ 17,286 \n Total ROW 7,638 8 % 7,058 1 % 7,011 \n Total product sales $ 26,910 9 % $ 24,801 2 % $ 24,297 " ]

[ "R&D expense by category was as follows (in millions):\n Years ended December 31,\n 2023\n 2022\n 2021\n Research and early pipeline\n $\n Later-stage clinical programs\n Marketed products\n 1,584 $\n 1,898 \n 1,611 $\n 1,627 \n 1,670 \n 1,726 \n 1,302 \n 1,196 \n 1,423 \n Total R&D expense\n $\n 4,784 $\n 4,434 $ 4,819" ]

[ "Cash flows\n Our summarized cash flow activity was as follows (in millions):\n Net cash provided by operating activities\n Years ended December 31,\n 2023\n 2022\n 2021\n $\n Net cash (used in) provided by investing activities\n Net cash provided by (used in) financing activities\n $\n 8,471 $\n (26,204) $\n 9,721 $\n (6,044) $\n 9,261 \n 733 \n $\n Operating\n 21,048 $\n (4,037) $\n (8,271)" ]

[ "Cash flows\n Our summarized cash flow activity was as follows (in millions):\n Net cash provided by operating activities\n Years ended December 31,\n 2023\n 2022\n 2021\n $\n Net cash (used in) provided by investing activities\n Net cash provided by (used in) financing activities\n $\n 8,471 $\n (26,204) $\n 9,721 $\n (6,044) $\n 9,261 \n 733 \n $\n Operating\n 21,048 $\n (4,037) $\n (8,271)" ]

[ "AMGEN INC.\n CONSOLIDATED STATEMENTS OF INCOME\n Years ended December 31, 2023, 2022 and 2021\n (In millions, except per-share data)\n 2023 2022 2021\n Revenues:\n Product sales $ 26,910 $ 24,801 $ 24,297 \n Other revenues 1,280 1,522 1,682 \n Total revenues 28,190 26,323 25,979 \n Operating expenses:\n Cost of sales 8,451 6,406 6,454 \n Research and development 4,784 4,434 4,819 \n Acquired in-process research and development — — 1,505 \n Selling, general and administrative 6,179 5,414 5,368 \n Other 879 503 194 \n Total operating expenses 20,293 16,757 18,340 \n Operating income 7,897 9,566 7,639 \n Other income (expense):\n Interest expense, net (2,875) (1,406) (1,197)\n Other income (expense), net 2,833 (814) 259 \n Income before income taxes 7,855 7,346 6,701 \n Provision for income taxes 1,138 794 808 \n Net income $ 6,717 $ 6,552 $ 5,893 \n Earnings per share:\n Basic $ 12.56 $ 12.18 $ 10.34 \n Diluted $ 12.49 $ 12.11 $ 10.28 \n Shares used in the calculation of earnings per share:\n Basic 535 538 570\n Diluted 538 541 573" ]

[ "AMGEN INC.\n CONSOLIDATED STATEMENTS OF INCOME\n Years ended December 31, 2023, 2022 and 2021\n (In millions, except per-share data)\n 2023 2022 2021\n Revenues:\n Product sales $ 26,910 $ 24,801 $ 24,297 \n Other revenues 1,280 1,522 1,682 \n Total revenues 28,190 26,323 25,979 \n Operating expenses:\n Cost of sales 8,451 6,406 6,454 \n Research and development 4,784 4,434 4,819 \n Acquired in-process research and development — — 1,505 \n Selling, general and administrative 6,179 5,414 5,368 \n Other 879 503 194 \n Total operating expenses 20,293 16,757 18,340 \n Operating income 7,897 9,566 7,639 \n Other income (expense):\n Interest expense, net (2,875) (1,406) (1,197)\n Other income (expense), net 2,833 (814) 259 \n Income before income taxes 7,855 7,346 6,701 \n Provision for income taxes 1,138 794 808 \n Net income $ 6,717 $ 6,552 $ 5,893 \n Earnings per share:\n Basic $ 12.56 $ 12.18 $ 10.34 \n Diluted $ 12.49 $ 12.11 $ 10.28 \n Shares used in the calculation of earnings per share:\n Basic 535 538 570\n Diluted 538 541 573" ]

[ "Operating expenses\n Operating expenses were as follows (dollar amounts in millions):\n Year ended December\n 31, 2023 Change\n Year ended December\n 31, 2022 Change\n Year ended December\n 31, 2021\n Cost of sales $ 8,451 32 % $ 6,406 (1)% $ 6,454 \n % of product sales 31.4 % 25.8 % 26.6 %\n % of total revenues 30.0 % 24.3 % 24.8 %\n Research and development $ 4,784 8 % $ 4,434 (8)% $ 4,819 \n % of product sales 17.8 % 17.9 % 19.8 %\n % of total revenues 17.0 % 16.8 % 18.5 %\n Acquired in-process research and development $ — NM $ — (100)% $ 1,505 \n % of product sales — % — % 6.2 %\n % of total revenues — % — % 5.8 %\n Selling, general and administrative $ 6,179 14 % $ 5,414 1 % $ 5,368 \n % of product sales 23.0 % 21.8 % 22.1 %\n % of total revenues 21.9 % 20.6 % 20.7 %\n Other $ 879 75 % $ 503 * $ 194 \n Total operating expenses $ 20,293 21 % $ 16,757 (9)% $ 18,340 " ]

[ "Selected Financial Information\n The following is an overview of our results of operations (in millions, except percentages and per-share data):\n Year ended December 31,\n 2023\n Change\n Year ended December 31,\n 2022\n Product sales:\n U.S.\n $\n 19,272 \n 9 % $\n 17,743 \n ROW 7,638 8 % 7,058 \n Total product sales\n 26,910 \n Other revenues\n 9 %\n 24,801 \n 1,280 \n Total revenues\n (16)%\n 1,522 \n $ 28,190 7 % $ 26,323 \n Operating expenses\n $\n Operating income\n Net income\n $\n 20,293 \n 7,897 \n 21 % $\n (17)% $\n 16,757 \n 9,566 \n $\n Diluted EPS\n Diluted shares\n $\n 6,717 \n 12.49 \n 3 % $\n 3 % $\n 6,552 \n 12.11 \n 538 \n (1)%\n 541 " ]

[ "R&D expense by category was as follows (in millions):\n Years ended December 31,\n 2023\n 2022\n 2021\n Research and early pipeline\n $\n Later-stage clinical programs\n Marketed products\n 1,584 $\n 1,898 \n 1,611 $\n 1,627 \n 1,670 \n 1,726 \n 1,302 \n 1,196 \n 1,423 \n Total R&D expense\n $\n 4,784 $\n 4,434 $ 4,819" ]

[ "Operating expenses\n Operating expenses were as follows (dollar amounts in millions):\n Year ended December\n 31, 2023 Change\n Year ended December\n 31, 2022 Change\n Year ended December\n 31, 2021\n Cost of sales $ 8,451 32 % $ 6,406 (1)% $ 6,454 \n % of product sales 31.4 % 25.8 % 26.6 %\n % of total revenues 30.0 % 24.3 % 24.8 %\n Research and development $ 4,784 8 % $ 4,434 (8)% $ 4,819 \n % of product sales 17.8 % 17.9 % 19.8 %\n % of total revenues 17.0 % 16.8 % 18.5 %\n Acquired in-process research and development $ — NM $ — (100)% $ 1,505 \n % of product sales — % — % 6.2 %\n % of total revenues — % — % 5.8 %\n Selling, general and administrative $ 6,179 14 % $ 5,414 1 % $ 5,368 \n % of product sales 23.0 % 21.8 % 22.1 %\n % of total revenues 21.9 % 20.6 % 20.7 %\n Other $ 879 75 % $ 503 * $ 194 \n Total operating expenses $ 20,293 21 % $ 16,757 (9)% $ 18,340 " ]

[ "The computations for basic and diluted EPS were as follows (in millions, except per-share data):\n Years ended December 31,\n 2023\n 2022\n 2021\n Income (Numerator):\n Net income for basic and diluted EPS\n $\n 6,717 $\n 6,552 $\n 5,893 \n Shares (Denominator):\n Weighted-average shares for basic EPS\n 535 \n Effect of dilutive securities\n 3 \n 538 \n 3 \n 570 \n 3 \n Weighted-average shares for diluted EPS\n 538 \n 541 \n 573 \n Basic EPS\n $\n Diluted EPS\n $\n 12.56 $\n 12.49 $\n 12.18 $\n 12.11 $\n 10.34 \n 10.28 " ]

[ "The computations for basic and diluted EPS were as follows (in millions, except per-share data):\n Years ended December 31,\n 2023\n 2022\n 2021\n Income (Numerator):\n Net income for basic and diluted EPS\n $\n 6,717 $\n 6,552 $\n 5,893 \n Shares (Denominator):\n Weighted-average shares for basic EPS\n 535 \n Effect of dilutive securities\n 3 \n 538 \n 3 \n 570 \n 3 \n Weighted-average shares for diluted EPS\n 538 \n 541 \n 573 \n Basic EPS\n $\n Diluted EPS\n $\n 12.56 $\n 12.49 $\n 12.18 $\n 12.11 $\n 10.34 \n 10.28 " ]