v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income including non-controlling interests $ 9,776 $ 2,944
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 554 561
Stock-based compensation 1,375 1,377
Deferred income taxes (4,492) 101
Unrealized gain on debt and equity securities, net (1,505) (1,276)
Unrealized foreign currency transactions (130) 173
Other 63 (94)
Change in assets and liabilities, net of impact of business acquisitions and disposals:    
Accounts receivable (357) (388)
Prepaid expenses and other assets (874) (664)
Operating lease right-of-use assets 135 137
Accounts payable 232 24
Accrued insurance reserves 2,079 2,161
Accrued expenses and other liabilities 521 488
Operating lease liabilities (161) (157)
Net cash provided by operating activities 7,216 5,387
Cash flows from investing activities    
Purchases of property and equipment (261) (198)
Purchases of non-marketable equity securities (286) (288)
Purchases of marketable securities (13,945) (9,745)
Proceeds from maturities and sales of marketable securities 13,547 5,767
Acquisition of businesses, net of cash acquired (804) 0
Other investing activities (201) (146)
Net cash used in investing activities (1,950) (4,610)
Cash flows from financing activities    
Issuance of term loan and notes, net of issuance costs 3,359 3,972
Principal repayment on term loan and notes (1,200) (1,986)
Principal payments on finance leases (112) (122)
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan 120 103
Repurchases of common stock (4,611) (697)
Other financing activities (151) 40
Net cash provided by (used in) financing activities (2,595) 1,310
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents 202 (88)
Net increase in cash and cash equivalents, and restricted cash and cash equivalents 2,873 1,999
Cash and cash equivalents, and restricted cash and cash equivalents    
Beginning of period 8,610 7,004
End of period 11,483 9,003
Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets    
Cash and cash equivalents 8,432 6,150
Restricted cash and cash equivalents-current 477 933
Restricted cash and cash equivalents-non-current 2,574 1,920
Total cash and cash equivalents, and restricted cash and cash equivalents 11,483 9,003
Cash paid for:    
Interest, net of amount capitalized 373 399
Income taxes, net of refunds $ 274 $ 242