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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net loss $ (2,822) $ (3,561) $ (4,714)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 483 429 305
Depreciation and amortization 215 189 621
Amortization/accretion of investments (67) (95) (61)
Loss on equity investments, net 8 52 35
Other non-cash items 77 60 7
Changes in assets and liabilities:      
Accounts receivable, net 156 534 493
Prepaid expenses and other assets 153 145 1,802
Inventory (34) 83 747
Right-of-use assets, operating leases 38 (53) (605)
Accounts payable (92) (69) 13
Accrued liabilities (2) (385) (340)
Deferred revenue 41 (439) (2,060)
Operating lease liabilities (21) 28 551
Other liabilities (6) 78 88
Net cash used in operating activities (1,873) (3,004) (3,118)
Investing activities      
Purchases of marketable securities (5,768) (6,529) (3,760)
Proceeds from maturities of marketable securities 5,563 5,562 5,575
Proceeds from sales of marketable securities 2,353 3,967 3,206
Purchases of property, plant and equipment (192) (1,051) (707)
Acquisition of business, net of cash acquired 0 0 (85)
Purchase of intangible asset (10) 0 0
Investment in convertible notes and equity securities 0 0 (23)
Net cash provided by investing activities 1,946 1,949 4,206
Financing activities      
Proceeds from credit facility 600 0 0
Payment of credit facility issuance costs (22) 0 0
Proceeds from issuance of common stock through equity plans 35 66 46
Tax payments related to net share settlements on equity awards (2) 0 (1,153)
Changes in financing lease liabilities (18) (10) (270)
Net cash provided by (used in) financing activities 593 56 (1,377)
Effect of changes in exchange rates on cash and cash equivalents 2 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash 668 (999) (289)
Cash, cash equivalents and restricted cash, beginning of year 1,929 2,928 3,217
Cash, cash equivalents and restricted cash, end of year 2,597 1,929 2,928
Supplemental cash flow information      
Cash paid (received) for income taxes 26 197 (357)
Cash paid for interest 10 24 39
Non-cash investing and financing activities      
Purchases of property, plant and equipment included in accounts payable and accrued liabilities $ 83 $ 97 $ 130