v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income including non-controlling interests $ 2,698 $ 3,124
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 386 359
Stock-based compensation 1,023 910
Deferred income taxes 771 (325)
(Gains) losses on debt and equity securities, net (138) (34)
(Gains) losses on foreign currency transactions, net (53) (152)
Other 316 79
Change in assets and liabilities, net of impact of business acquisitions and disposals:    
Accounts receivable (499) (335)
Prepaid expenses and other assets (375) (748)
Operating lease right-of-use assets 100 89
Accounts payable 345 131
Accrued insurance reserves 830 1,487
Accrued expenses and other liabilities (94) 410
Operating lease liabilities (97) (107)
Net cash provided by operating activities 5,213 4,888
Cash flows from investing activities    
Purchases of property and equipment (135) (163)
Purchases of non-marketable equity securities (507) (191)
Purchases of marketable securities (17,646) (7,635)
Purchases of notes receivable (298) 0
Proceeds from maturities and sales of marketable securities 14,665 7,033
Acquisition of businesses, net of cash acquired (653) (804)
Purchase of total return swaps (1,640) 0
Other investing activities 52 (243)
Net cash used in investing activities (6,162) (2,003)
Cash flows from financing activities    
Proceeds from term loan, notes, and credit facility, net of issuance costs 3,997 1,127
Principal repayment on term loan, notes, and credit facility (2,000) 0
Principal payments on finance leases (82) (75)
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan 136 120
Repurchases of common stock (3,529) (3,148)
Other financing activities (73) (81)
Net cash used in financing activities (1,551) (2,057)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents 30 229
Net increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents (2,470) 1,057
Cash and cash equivalents, and restricted cash and cash equivalents    
Beginning of period 9,647 8,610
End of period 7,177 9,667
Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets    
Cash and cash equivalents 4,870 6,438
Restricted cash and cash equivalents-current 661 1,191
Restricted cash and cash equivalents-non-current 1,646 2,038
Total cash and cash equivalents, and restricted cash and cash equivalents 7,177 9,667
Cash paid for:    
Interest, net of amount capitalized 200 187
Income taxes, net of refunds 280 167
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations 567 72
Reclassification of marketable securities to equity method investments $ 2,517 $ 0