Alphabet Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

Year Ended December31,201820192020Operating activitiesNet income$30,736$34,343$40,269Adjustments:Depreciation and impairment of property and equipment8,16410,85612,905Amortization and impairment of intangible assets871925792Stock-based compensation expense9,35310,79412,991Deferred income taxes7781731,390Gain on debt and equity securities, net(6,650)(2,798)(6,317)Other(189)(592)1,267Changes in assets and liabilities, net of effects of acquisitions:Accounts receivable(2,169)(4,340)(6,524)Income taxes, net(2,251)(3,128)1,209Other assets(1,207)(621)(1,330)Accounts payable1,067428694Accrued expenses and other liabilities8,6147,1705,504Accrued revenue share4831,2731,639Deferred revenue37137635Net cash provided by operating activities47,97154,52065,124Investing activitiesPurchases of property and equipment(25,139)(23,548)(22,281)Purchases of marketable securities(50,158)(100,315)(136,576)Maturities and sales of marketable securities48,50797,825132,906Purchases of non-marketable investments(2,073)(1,932)(7,175)Maturities and sales of non-marketable investments1,7524051,023Acquisitions, net of cash acquired, and purchases of intangible assets(1,491)(2,515)(738)Other investing activities9858968Net cash used in investing activities(28,504)(29,491)(32,773)Financing activitiesNet payments related to stock-based award activities(4,993)(4,765)(5,720)Repurchases of capital stock(9,075)(18,396)(31,149)Proceeds from issuance of debt, net of costs6,76631711,761Repayments of debt(6,827)(585)(2,100)Proceeds from sale of interest in consolidated entities, net9502202,800Net cash used in financing activities(13,179)(23,209)(24,408)Effect of exchange rate changes on cash and cash equivalents(302)(23)24Net increase in cash and cash equivalents5,9861,7977,967Cash and cash equivalents at beginning of period10,71516,70118,498Cash and cash equivalents at end of period$16,701$18,498$26,465Supplemental disclosures of cash flow informationCash paid for taxes, net of refunds$5,671$8,203$4,990

In the Table of Contents, go to Item 8 Financial Statements and Supplementary Data. Using information from the statement of cash flows, answer the following questions for the Alphabet 2020: Which method, direct or indirect, was used to prepare the company's Statement of Cash Flows? How can you tell?

• How much cash and cash equivalents did the company have on hand at the end of its most recent fiscal year?
• What is the trend in the company's net cash from operations over the past three years?
• What were the significant cash flows from or used by financing activities during its most recent fiscal year?
• What were the significant cash flows from or used by investing activities during its most recent fiscal year?