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1、UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington,D.C.20549_FORM 10-K_(Mark One)ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31,2024ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 19

2、34For the transition period from to .Commission file number:001-37580_Alphabet Inc.(Exact name of registrant as specified in its charter)_Delaware61-1767919(State or other jurisdiction of incorporation or organization)(I.R.S.Employer Identification No.)1600 Amphitheatre ParkwayMountain View,CA 94043

3、(Address of principal executive offices,including zip code)(650)253-0000(Registrants telephone number,including area code)Securities registered pursuant to Section 12(b)of the Act:Title of each classTrading Symbol(s)Name of each exchange on which registeredClass A Common Stock,$0.001 par valueGOOGLN

4、asdaq Stock Market LLC(Nasdaq Global Select Market)Class C Capital Stock,$0.001 par valueGOOGNasdaq Stock Market LLC(Nasdaq Global Select Market)Securities registered pursuant to Section 12(g)of the Act:Title of each classNone_Indicate by check mark if the registrant is a well-known seasoned issuer,

5、as defined in Rule 405 of the SecuritiesAct.Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d)of theAct.Yes No Indicate by check mark whether the registrant(1)has filed all reports required to be filed by Section 13 or 15(d)of the

6、SecuritiesExchange Act of 1934 during the preceding 12 months(or for such shorter period that the registrant was required to file suchreports),and(2)has been subject to such filing requirements for the past 90 days.Yes No Indicate by check mark whether the registrant has submitted electronically eve

7、ry Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T(232.405 of this chapter)during the preceding 12 months(or for such shorter period thatthe registrant was required to submit such files).Yes No Indicate by check mark whether the registrant is a large accelerated

8、filer,an accelerated filer,a non-accelerated filer,a smallerreporting company,or an emerging growth company.See the definitions of“large accelerated filer,”“accelerated filer,”“smallerreporting company,”and emerging growth company in Rule 12b-2 of the Exchange Act.Large accelerated filer Accelerated

9、 filerNon-accelerated filerSmaller reporting companyEmerging growth companyIf an emerging growth company,indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(

10、a)of the Exchange Act.Indicate by check mark whether the registrant has filed a report on and attestation to its managements assessment of theeffectiveness of its internal control over financial reporting under Section 404(b)of the Sarbanes-Oxley Act(15 U.S.C.7262(b)bythe registered public accountin

11、g firm that prepared or issued its audit report.If securities are registered pursuant to Section 12(b)of the Act,indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.Indicate by ch

12、eck mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrants executive officers during the relevant recovery period pursuant to 240.10D-1(b).Indicate by check mark whether the registrant is a shel

13、l company(as defined in Rule 12b-2 of the Exchange Act).Yes No As of June 28,2024,the aggregate market value of shares held by non-affiliates of the registrant(based upon the closing sale pricesof such shares on the Nasdaq Global Select Market on June 28,2024)was approximately$2.0 trillion.For purpo

14、ses of calculatingthe aggregate market value of shares held by non-affiliates,we have assumed that all outstanding shares are held by non-affiliates,except for shares held by each of our executive officers,directors,and 5%or greater stockholders.In the case of 5%or greaterstockholders,we have not de

15、emed such stockholders to be affiliates unless there are facts and circumstances which would indicatethat such stockholders exercise any control over our company,or unless they hold 10%or more of our outstanding commonstock.These assumptions should not be deemed to constitute an admission that all e

16、xecutive officers,directors,and 5%or greaterstockholders are,in fact,affiliates of our company,or that there are not other persons who may be deemed to be affiliates of ourcompany.Further information concerning shareholdings of our officers,directors,and principal stockholders is included orincorpor

17、ated by reference in Part III,Item 12 of this Annual Report on Form 10-K.As of January 28,2025,there were 5,833 million shares of Alphabets Class A stock outstanding,860 million shares of AlphabetsClass B stock outstanding,and 5,497 million shares of the Alphabets Class C stock outstanding._DOCUMENT

18、S INCORPORATED BY REFERENCEPortions of the registrants Proxy Statement for the 2025 Annual Meeting of Stockholders are incorporated herein by reference inPart III of this Annual Report on Form 10-K to the extent stated herein.Such proxy statement will be filed with the Securities andExchange Commiss

19、ion within 120 days of the registrants fiscal year ended December 31,2024.Table of ContentsAlphabet Inc.Alphabet Inc.Form 10-KFor the Fiscal Year Ended December 31,2024TABLE OF CONTENTS PageNote About Forward-Looking Statements3PART IItem 1.Business4Item 1A.Risk Factors10Item 1B.Unresolved Staff Com

20、ments25Item 1C.Cybersecurity25Item 2.Properties26Item 3.Legal Proceedings26Item 4.Mine Safety Disclosures26PART IIItem 5.Market for Registrants Common Equity,Related Stockholder Matters,and Issuer Purchases ofEquity Securities27Item 6.Reserved29Item 7.Managements Discussion and Analysis of Financial

21、 Condition and Results of Operations30Item 7A.Quantitative and Qualitative Disclosures About Market Risk45Item 8.Financial Statements and Supplementary Data48Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure90Item 9A.Controls and Procedures90Item 9B.Other In

22、formation90Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections91PART IIIItem 10.Directors,Executive Officers,and Corporate Governance92Item 11.Executive Compensation92Item 12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters92Item 1

23、3.Certain Relationships and Related Transactions,and Director Independence92Item 14.Principal Accountant Fees and Services92PART IVItem 15.Exhibits,Financial Statement Schedules93Item 16.Form 10-K Summary96Signatures2.Table of ContentsAlphabet Inc.Note About Forward-Looking StatementsThis Annual Rep

24、ort on Form 10-K contains forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995.These include,among other things,statements regarding:the growth of our business and revenues and our expectations about the factors that influence our success andtrends in

25、our business;fluctuations in our revenues and margins and various factors contributing to such fluctuations;our expectation that the continuing shift to an online world as the digital economy evolves will continue tobenefit our business;our expectation that the revenues that we derive beyond adverti

26、sing will continue to increase and may affectour margins;our expectation that our traffic acquisition costs(TAC)and the associated TAC rate will fluctuate,which couldaffect our overall margins;our expectation that our monetization trends will fluctuate,which could affect our revenues and margins;flu

27、ctuations in paid clicks and cost-per-click as well as impressions and cost-per-impression,and variousfactors contributing to such fluctuations;our expectation that we will continue to periodically review,refine,and update our methodologies formonitoring,gathering,and counting the number of paid cli

28、cks and impressions,and for identifying the revenuesgenerated by the corresponding click and impression activity;our expectation that our results will be affected by our performance in international markets as users indeveloping economies increasingly come online;our expectation that our foreign exc

29、hange risk management program will not fully offset our net exposure tofluctuations in foreign currency exchange rates;the expected variability of gains and losses related to hedging activities under our foreign exchange riskmanagement program;the amount and timing of revenue recognition from custom

30、er contracts with commitments for performanceobligations,including our estimate of the remaining amount of commitments and when we expect to recognizerevenue;our expectation that our capital expenditures will increase,including our expected spend and the expectedincrease in our technical infrastruct

31、ure investment to support the growth of our business and our long-terminitiatives,in particular in support of artificial intelligence(AI)products and services;our plans to continue to invest in new businesses,products,services and technologies,and systems,as wellas to continue to invest in acquisiti

32、ons and strategic investments;our pace of hiring and our plans to provide competitive compensation programs;our expectation that our cost of revenues,research and development(R&D)expenses,sales and marketingexpenses,and general and administrative expenses may increase in amount and/or may increase a

33、s apercentage of revenues and may be affected by a number of factors;estimates of our future employee compensation expenses;our expectation that our other income(expense),net(OI&E),will fluctuate in the future,as it is largely driven bymarket dynamics;our expectation that our effective tax rate and

34、cash tax payments could increase in future years;seasonal fluctuations in internet usage,advertising expenditures,and underlying business trends such astraditional retail seasonality,which are likely to cause fluctuations in our quarterly results;the sufficiency of our sources of funding;our potenti

35、al exposure in connection with new and pending investigations,proceedings,and othercontingencies,including the possibility that certain legal proceedings to which we are a party could harm ourbusiness,financial condition,and operating results;3.Table of ContentsAlphabet Inc.our expectation that we w

36、ill continue to face heightened regulatory scrutiny,and changes in regulatoryconditions,laws,and public policies,which could affect our business practices and financial results;the expected timing,amount,and effect of Alphabet Inc.s share repurchases and dividends;our long-term sustainability goals;

37、as well as other statements regarding our future operations,financial condition and prospects,and business strategies.Forward-looking statements may appear throughout this report and other documents we file with the Securities andExchange Commission(SEC),including without limitation,the following se

38、ctions:Part I,Item 1 Business;Part I,Item1A Risk Factors;and Part II,Item 7 Managements Discussion and Analysis of Financial Condition and Results ofOperations.Forward-looking statements generally can be identified by words such as anticipates,believes,could,estimates,expects,intends,may,plans,predi

39、cts,projects,will be,will continue,will likely result,andsimilar expressions.These forward-looking statements are based on current expectations and assumptions that aresubject to risks and uncertainties,which could cause our actual results to differ materially from those reflected in theforward-look

40、ing statements.Factors that could cause or contribute to such differences include,but are not limited to,those discussed in this Annual Report on Form 10-K,including the risks discussed in Part I,Item 1A Risk Factors andthe trends discussed in Part II,Item 7 Managements Discussion and Analysis of Fi

41、nancial Condition and Results ofOperations,and those discussed in other documents we file with the SEC.We undertake no obligation to revise orpublicly release the results of any revision to these forward-looking statements,except as required by law.Given theserisks and uncertainties,readers are caut

42、ioned not to place undue reliance on such forward-looking statements.As used herein,Alphabet,the company,we,us,our,and similar terms include Alphabet Inc.and itssubsidiaries,unless the context indicates otherwise.Alphabet,Google,and other trademarks of ours appearing in this report are our property.

43、We do not intend ouruse or display of other companies trade names or trademarks to imply an endorsement or sponsorship of us by suchcompanies,or any relationship with any of these companies.PART IITEM 1.BUSINESSOverviewAs our founders Larry and Sergey wrote in the original founders letter,Google is

44、not a conventional company.We do not intend to become one.That unconventional spirit has been a driving force throughout our history,inspiringus to tackle big problems and invest in moonshots.It led us to be a pioneer in the development of AI and,since 2016,an AI-first company.We continue this work

45、under the leadership of Alphabet and Google CEO,Sundar Pichai.Alphabet is a collection of businesses the largest of which is Google.We report Google in two segments,Google Services and Google Cloud,and all non-Google businesses collectively as Other Bets.Supporting thesebusinesses,we have centralize

46、d certain AI-related research and development which is reported in Alphabet-levelactivities.Alphabets structure is about helping each of our businesses prosper through strong leaders andindependence.Access and Technology for EveryoneThe Internet is one of the worlds most powerful equalizers;it prope

47、ls ideas,people,and businesses large andsmall.Our mission to organize the worlds information and make it universally accessible and useful is as relevanttoday as it was when we were founded in 1998.Since then,we have evolved from a company that helps people findanswers to a company that also helps p

48、eople get things done.We are focused on building an even more helpful Google for everyone,and we aspire to give everyone the toolsthey need to increase their knowledge,health,happiness,and success.Google Search helps people find informationand make sense of the world in more natural and intuitive wa

49、ys,with trillions of searches on Google every year.YouTube provides people with entertainment,information,and opportunities to learn something new and helps supportthe creator economy through the YouTube Partner Program.Google Cloud helps customers solve todays businesschallenges,improve productivit

50、y,reduce costs,and unlock new growth engines.We are continually innovating andbuilding new products and features to help our users,partners,customers,and communities and have invested morethan$150 billion in research and development in the last five years in support of these efforts.4.Table of Conte

51、ntsAlphabet Inc.Making AI Helpful for EveryoneWe believe AI is a profound platform shift,one that can bring meaningful and positive change to people andsocieties across the world,and to our business.At Google,we have been bringing AI into our products and services formore than a decade and making th

52、em available to our users.In 2023,we took a significant step on our journey to make AI more helpful for everyone with the introduction ofGemini,our natively multimodal AI model.In 2024,we launched Gemini 2.0,our most capable model yet.Gemini cangeneralize and seamlessly understand,operate across,and

53、 combine different types of information including text,code,audio,image,and video.Gemini is powering AI features across our products and services that are helping peopleeveryday.Today,all seven of our two billion-user products Android,Chrome,Gmail,Maps,Play Store,Search,andYouTube are using Gemini.O

54、ur Google Cloud products,including Google Cloud Platform and Google Workspace,help organizations stay atthe forefront of innovation with our AI-optimized infrastructure,AI development platform,world-class models,as well asassistive agents and applications.We believe AI has the potential to solve imp

55、ortant societal,scientific,and engineering challenges.For example,in2020,Google DeepMinds AlphaFold system solved a 50-year-old protein folding challenge,and in 2024,we introducedAlphaFold 3,built on the previous models,to predict the structure and interactions of all the molecules in lifesprocesses

56、.We are focused on transforming our products to provide the most helpful tools to our users and customers as wedeliver on our mission to organize the worlds information and make it universally accessible and useful.Deliver the Most Advanced,Safe,and Responsible AIWe aim to build the most advanced,sa

57、fe,and responsible AI through a full stack of robust AI-optimizedinfrastructure,including data centers,chips,and a global fiber network;world class research teams;and a broad globalreach through products and platforms that touch billions of people and customers around the world.We are driving effici

58、encies in our data centers,while making significant hardware and model improvements.Forexample,since we started serving AI Overviews to our users,we have significantly lowered machine costs and latencythrough hardware,engineering,and technical breakthroughs.Our AI-optimized infrastructure allows us

59、to use,and offerour customers,a range of AI accelerator options,including our own custom-built Tensor Processing Units(TPUs).Our teams across Alphabet leverage Gemini,as well as other AI models we have previously developed andannounced,to deliver the best product and service experiences for our user

60、s,advertisers,partners,customers,anddevelopers.We are using Gemini 2.0 in new research prototypes,including Project Astra,which explores the futurecapabilities of a universal AI assistant and Project Mariner,an early prototype capable of taking actions in Chrome asan experimental extension.We believ

61、e our approach to AI must be both bold and responsible.That means developing AI in a way thatmaximizes the positive benefits to society while addressing its potential challenges,guided by our AI Principles.Enable Organizations and Developers to Innovate on Google CloudAI is a major technology shift

62、for enterprises.Globally,businesses from startups to large enterprises,and thepublic sector are thinking about how to drive transformation.That is why we are focused on making it easy and scalablefor others to innovate,and grow,with AI.That means providing advanced computing infrastructure and expan

63、dingaccess to Googles latest AI models.Our Vertex AI platform gives developers the ability to train,tune,augment,test,and deploy applications using Gemini,Imagen,Veo,and other generative AI models.Gemini for Google Cloud providespre-packaged AI agents that can assist developers to write,document,tes

64、t,and operate software as well as assistcybersecurity teams to analyze,detect,protect,and respond to threats.Improve Knowledge,Learning,Creativity,and ProductivityAs AI continues to improve rapidly,we are focused on transforming our products to provide our users the mosthelpful tools.Examples includ

65、e AI Overviews,which allow users to ask their most complex questions,break downconcepts in a format that is useful for them,or take a video and ask a question out loud,and NotebookLM,which helpsusers understand complex information by summarizing sources and providing relevant quotes.We are embedding

66、 thepower of generative AI to continue helping our users express themselves and get things done.For example,the Geminiapp allows users to collaborate with new AI features that include image generation capabilities,coding support,andapp integration.Gemini for Google Workspace helps users write,organi

67、ze,visualize,accelerate workflows,and havericher meetings.Additionally,we are using Gemini to improve recommendations on YouTube.We also knowbusinesses of all sizes around the world rely on Google Ads to find customers and grow their businesses and we5.Table of ContentsAlphabet Inc.make that even ea

68、sier with AI.For example,advertisers are able to use our updated image generation in Google Adsto produce high-quality imagery for their campaigns,and Demand Gen helps them reach their target audiences.Build the Most Helpful Personal Computing Platforms and DevicesOver the years,our Pixel phones hav

69、e incorporated AI compute directly into the device and built experiences ontop of it.Our latest Pixel devices were built with Gemini Nano,bringing the best AI-assistive experiences to our users,such as Gemini on Pixel,Pixel Screenshots,and Pixel Studio.Our Android and Chrome operating systems enable

70、users to access Gemini,and other Google AI features throughout their day.For example,with Circle to Search builtdirectly into the Android experience,users can search anything they see on their phone using a simple gesture.MoonshotsMany companies get comfortable doing what they have always done,makin

71、g only incremental changes.Thisincrementalism leads to irrelevance over time,especially in technology,where change tends to be revolutionary,notevolutionary.Our acquisitions of YouTube and Android and subsequent launch of Chrome have matured into majorplatforms for digital video and mobile devices a

72、nd a safer,popular browser.In Other Bets,our fully autonomous drivingtechnology company,Waymo,is now providing fully autonomous,paid ride-hailing services to customers in multiplecities.Our early investments in AI started out as moonshots but are now incorporated into our core products and centralto

73、 future developments.We continue to look toward the future and to invest for the long term,most notably for theapplication of AI to our products and services,as well as other frontier technologies such as quantum computing.As wesaid in the original founders letter,we will not shy away from high-risk

74、,high-reward projects that we believe in,as theyare the key to our long-term success.Privacy and SecurityWe make it a priority to protect the privacy and security of our products,users,and customers,even if there arenear-term financial consequences.We do this by continuously investing in building pr

75、oducts that are secure by default;strictly upholding responsible data practices that emphasize privacy by design;and building easy-to-use settings thatput people in control.We are continually enhancing these efforts over time,whether by enabling users to auto-deletetheir data,applying privacy techno

76、logies like on-device processing,giving people tools to control their experience,oradvancing anti-malware,anti-phishing,and password security features.GoogleFor reporting purposes Google comprises two segments:Google Services and Google Cloud.Google ServicesServing Our UsersWe have always been commi

77、tted to building helpful products that can improve the lives of millions of peopleworldwide.Our product innovations are what make our services widely used,and our brand one of the most recognizedin the world.Google Services core products and platforms include ads,Android,Chrome,devices,Gmail,GoogleD

78、rive,Google Maps,Google Photos,Google Play,Search,and YouTube,with broad and growing adoption by usersaround the world.Our products and services have come a long way since the company was founded more than 25 years ago.WhileGoogle Search started as a way to find web pages,organized into ten blue lin

79、ks,we have driven technicaladvancements and product innovations that have transformed Google Search into a dynamic,multimodal experience.We first expanded from traditional desktop browsers into mobile web search,making it easier to navigate on smallerscreens.As new types of content surfaced on the i

80、nternet,Universal Search made it possible to search multiple contenttypes,like news,images,videos,and more,to deliver rich,relevant results.The introduction of new search modalities,like voice and visual search,made it easier for people to express their curiosity in natural and intuitive ways.We too

81、kthat a step further with multisearch,which lets people search with text and images at the same time.Large languagemodels have made it possible to express more natural language queries,vastly improving the types of questions userscan ask,and the quality of results.Each advancement has made it easier

82、 and more natural for people to find what theyare looking for.We are now using Gemini customized for Google Search to provide our users an improved Searchexperience,and AI Overviews has been released in more than one hundred countries,reaching more than one billionusers.This drive to make informatio

83、n more accessible and helpful has led us over the years to improve the discoveryand creation of digital content both on the web and through platforms like Google Play and YouTube.People areconsuming many forms of digital content,including watching videos,streaming TV,playing games,listening to music

84、,6.Table of ContentsAlphabet Inc.reading books,and using apps.Working with content creators and partners,we continue to build new ways for peoplearound the world to create and find great digital content.Fueling all of these great digital experiences are extraordinary platforms and devices.That is wh

85、y we continue toinvest in platforms like our Android mobile operating system,Chrome browser,and Chrome operating system,as wellas our family of devices.We see tremendous potential for devices to be helpful and make peoples lives easier bycombining the best of our AI,software,and hardware.This potent

86、ial is reflected in our latest generation of devices,such as the new Pixel 9 series and the Pixel Watch 3.Creating products and services that people rely on every day is ajourney that we are investing in for the long-term.How We Make MoneyWe have built world-class advertising technologies for advert

87、isers,agencies,and publishers to power their digitalmarketing businesses.Our advertising solutions help millions of companies grow their businesses through our widerange of products across devices and formats,and we aim to ensure positive user experiences by serving the right adsat the right time an

88、d by building deep partnerships with brands and agencies.AI has been foundational to ouradvertising business for more than a decade.Products like Demand Gen,Performance Max,and Product Studio usethe full power of our AI to help advertisers find untapped and incremental conversion opportunities.Googl

89、e Services generates revenues primarily by delivering both performance and brand advertising that appearson Google Search&other properties,YouTube,and Google Network partners properties(Google Networkproperties).We continue to invest in both performance and brand advertising and seek to improve the

90、measurability ofadvertising so advertisers understand the effectiveness of their campaigns.Performance advertising creates and delivers relevant ads that users will click on leading to directengagement with advertisers.Performance advertising lets our advertisers connect with users while drivingmeas

91、urable results.Our ads tools allow performance advertisers to create simple text-based ads.Brand advertising helps enhance users awareness of and affinity for advertisers products and services,through videos,text,images,and other interactive ads that run across various devices.We help brandadvertise

92、rs deliver digital videos and other types of ads to specific audiences for their brand-building marketingcampaigns.We have allocated substantial resources to stopping bad advertising practices and protecting users on the web.We focus on creating the best advertising experiences for our users and adv

93、ertisers in many ways,including filteringout invalid traffic,removing billions of bad ads from our systems every year,and closely monitoring the sites,apps,andvideos where ads appear and blocklisting them when necessary to ensure that ads do not fund bad content.In addition,Google Services increasin

94、gly generates revenues from products and services beyond advertising,including:consumer subscriptions,which primarily include revenues from YouTube services,such as YouTube TV,YouTube Music and Premium,and NFL Sunday Ticket,as well as Google One;platforms,which primarily include revenues from Google

95、 Play sales of apps and in-app purchases;anddevices,which primarily include sales of the Pixel family of devices.Google CloudThrough our Google Cloud Platform and Google Workspace offerings,Google Cloud generates revenues primarilyfrom consumption-based fees and subscriptions for infrastructure,plat

96、form,applications,and other cloud services.Customers use Google Cloud in multiple ways such as:AI-optimized Infrastructure:provides open,reliable,and scalable compute,networking,and storage toenable customers to run workloads anywhere on our Cloud,at the edge,or in their data centers.It can beused t

97、o migrate and modernize IT systems and to train and serve various types of AI models.Developer Platform:provides developers,through the Vertex AI platform,the ability to train,tune,augment,test,and deploy applications using Gemini and other leading generative AI models.We offer widely used first-par

98、ty,third-party,and open models along with services such as vector search,grounding,and distillation tofurther improve the cost and quality of models.Cybersecurity:provides AI powered cybersecurity solutions to help customers analyze,detect,protect,andrespond to a broad range of cybersecurity threats

99、,to further strengthen security outcomes,prioritize whichthreats to investigate,and identify attack paths,as well as accelerate resolution of cybersecurity threats.7.Table of ContentsAlphabet Inc.Data and Analytics:provides a variety of different types of databases relational,key-value,and in-memory

100、 to store and manage data for different types of applications and deliver data to AI agents.Our data platformalso unifies data lakes,data warehouses,data governance,and advanced machine learning into a singleplatform that helps users analyze data using AI models across any cloud.Applications:offers

101、a broad applications portfolio,including Gemini for Google Cloud and Gemini for GoogleWorkspace,as well as purpose-built agents for Search and our Customer Engagement Suite.AI has beenused in Google Workspace for years to improve grammar,efficiency,security,and more with features likeSmart Reply,Sma

102、rt Compose,and malware and phishing protection in Gmail.Now,Gemini for GoogleWorkspace brings our AI-powered agents into Gmail,Docs,Sheets and more to help users write,organize,visualize,accelerate workflows,and have richer meetings.Other BetsAcross Alphabet,we are also using technology to try to so

103、lve big problems that affect a wide variety of industries,including transportation and health technology.Alphabets investment in the portfolio of Other Bets includes businessesthat are at various stages of development,ranging from those in the R&D phase to those that are in the beginningstages of co

104、mmercialization.Our goal is for them to become thriving,successful businesses.Other Bets operate asindependent companies and some of them have their own boards with independent members and outside investors.While these early-stage businesses naturally come with considerable uncertainty,some of them

105、are already generatingrevenue and making important strides in their industries.Revenues from Other Bets are generated primarily from thesale of healthcare-related services,and internet services.CompetitionOur business is characterized by rapid change as well as new and disruptive technologies.We fac

106、e formidablecompetition in every aspect of our business,including but not limited to,from:general purpose search engines and information services;vertical search engines and e-commerce providers for queries on topics such as those related to travel,jobs,and health,which users may navigate directly t

107、o rather than go through Google;online advertising platforms and networks,including online shopping and streaming services;other forms of advertising,such as billboards,magazines,newspapers,radio,and television as our advertiserstypically advertise in multiple media,both online and offline;digital c

108、ontent and application platform providers;providers of enterprise cloud services;developers and providers of AI products and services;companies that design,manufacture,and market consumer hardware products,including businesses that havedeveloped proprietary platforms;providers of digital video servi

109、ces;social networks,which users may rely on for product or service referrals,rather than seeking informationthrough traditional search engines;providers of workspace communication and connectivity products;anddigital assistant providers.Competing successfully depends heavily on our ability to develo

110、p and distribute innovative products andtechnologies to the marketplace across our businesses.For example,for advertising,competing successfully dependson attracting and retaining:users,for whom other products and services are literally one click away,largely on the basis of the relevance ofour adve

111、rtising,as well as the general usefulness,security,and availability of our products and services;advertisers,primarily based on our ability to generate sales leads,and ultimately customers,and to deliver theiradvertisements in an efficient and effective manner across a variety of distribution channe

112、ls;andcontent providers,primarily based on the quality of our advertiser base,our ability to help these partnersgenerate revenues from advertising,and the terms of our agreements with them.8.Table of ContentsAlphabet Inc.For additional information about competition,see Item 1A Risk Factors of this A

113、nnual Report on Form 10-K.Ongoing Commitment to SustainabilityOur environmental strategy has two key pillars,supported by our dedication to accessible information andtechnological innovation:Our products:We are empowering people with information about the environmental impacts of their choices.Our o

114、perations:We are working to drive sustainability and efficiency across our operations and value chain.Through our products,we have an aspiration to help individuals,cities,and other partners collectively reduce onegigaton of their carbon equivalent emissions annually by 2030.In 2021,we set an ambiti

115、ous goal to reach net-zero emissions across all of our operations and value chain by2030.To make progress toward this effort,we aim to reduce 50%of our combined Scope 1,Scope 2(market-based),and Scope 3 absolute emissions(compared to our 2019 base year)by 2030,and we plan to invest in nature-based a

116、ndtechnology-based carbon removal solutions to neutralize our remaining emissions.Our primary approach to reducing our Scope 2 emissions is through the procurement of carbon-free energy(CFE).In 2020,we set a goal to run on 24/7 CFE every hour of every day on every grid where we operate by 2030.In202

117、3,we began implementing our carbon removals strategy,and we have begun establishing impactful partnershipsand have started contracting for carbon removal credits.Achieving net-zero emissions and 24/7 CFE by 2030 are extremely ambitious goals.We also know that our pathto net-zero emissions will not b

118、e easy or linear.Some of our plans may take years to deliver results,particularly wherethey involve building new large-scale infrastructure with long lead times.Our approach will continue to evolve and willrequire us to navigate significant uncertainty,including the uncertainty around the future env

119、ironmental impact of AI,which is complex and difficult to predict.In addition,solutions for some key global challenges do not currently exist,andwill depend heavily on the development and improvement of new technologies by us and by the energy sector.As ourbusiness and industry continue to evolve,we

120、 expect our total GHG emissions to rise before dropping toward ourabsolute emissions reduction target.For additional information about risks and uncertainties applicable to our work on sustainability and efficiency,seeItem 1A Risk Factors of this Annual Report on Form 10-K.Culture and WorkforceWe ar

121、e a company of curious,talented,and passionate people.We embrace collaboration and creativity,andencourage the iteration of ideas to address complex challenges in technology and society.Our people are critical for our continued success,so we work hard to create an environment where employeescan have

122、 fulfilling careers,and be happy,healthy,and perform at a high level.We offer industry-leading benefits andprograms to take care of the diverse needs of our employees and their families,including opportunities for careergrowth and development,resources to support their financial health,and access to

123、 excellent healthcare choices.Ourcompetitive compensation programs help us to attract and retain key talent,and we will continue to invest in recruitingtalented people to technical and non-technical roles,and rewarding them well.We provide a variety of high qualitytraining and support to managers to

124、 build and strengthen their capabilities-ranging from courses for new managers,tolearning resources that help them provide feedback and manage performance,to coaching and individual support.As of December 31,2024,Alphabet had 183,323 employees.We have work councils and statutory employeerepresentati

125、on obligations in certain countries,and we are committed to supporting protected labor rights,maintainingan open culture,and listening to all employees.Supporting healthy and open dialogue is central to how we work,andwe communicate information about the company through multiple internal channels to

126、 our employees.When appropriate we partner with outside companies on a contractual basis to provide a specialized service or totemporarily cover a short-term need.The employees of our suppliers and staffing partners vendors and temporarystaff,respectively and independent contractors who are self-emp

127、loyed,make up our extended workforce.Wechoose our partners and staffing agencies carefully,and review their compliance with Googles Supplier Code ofConduct.Government RegulationWe are subject to numerous United States(U.S.)federal,state,and local,as well as foreign laws and regulationscovering a wid

128、e variety of subjects,and the scope of this coverage continues to broaden with continuing new legal andregulatory developments in the U.S.and internationally.Like other companies in the technology industry,we faceincreasingly heightened scrutiny from both U.S.and foreign governments with respect to

129、our compliance with laws and9.Table of ContentsAlphabet Inc.regulations.Many of these laws and regulations are evolving and their applicability and scope,as interpreted by thecourts,remain uncertain.Particularly with regard to AI;competition;consumer protection;content moderation;dataprivacy and sec

130、urity;news publications;and sustainability and other social matters,we have seen an increase in newand evolving laws and regulations,as well as related enforcement actions and investigations,being proposed andimplemented in recent years by legislative and regulatory bodies around the world.As we hav

131、e seen in recent years,different laws and regulations on the same topic may not always have the same requirements,and even whenrequirements overlap,the rules are not always consistently implemented,interpreted,and enforced from jurisdiction tojurisdiction.Our compliance with these laws and regulatio

132、ns may be onerous and could,individually or in the aggregate,increase our cost of doing business,make our products and services less useful,limit our ability to pursue certainbusiness practices or offer certain products and services,cause us to change our business models and operations,affect our co

133、mpetitive position relative to our peers,and/or otherwise harm our business,reputation,financial condition,and operating results.For additional information about government regulation applicable to our business,see Item 1A Risk Factors;Trends in Our Business and Financial Effect in Part II,Item 7;an

134、d Legal Matters in Note 10 of the Notes toConsolidated Financial Statements included in Part II,Item 8 of this Annual Report on Form 10-K.Intellectual PropertyWe rely on various intellectual property laws,confidentiality procedures and contractual provisions to protect ourproprietary technology and

135、our brand.We have registered,and applied for the registration of,U.S.and internationaltrademarks,service marks,domain names,and copyrights.We have also filed patent applications in the U.S.andforeign countries covering certain of our technology,and acquired patent assets to supplement our portfolio.

136、We havelicensed in the past,and expect that we may license in the future,certain of our rights to other parties.For additionalinformation,see Item 1A Risk Factors of this Annual Report on Form 10-K.Available InformationOur website is located at www.abc.xyz,and our investor relations website is locat

137、ed at www.abc.xyz/investor.Access to our Annual Reports on Form 10-K,Quarterly Reports on Form 10-Q,Current Reports on Form 8-K,and ourProxy Statements,and any amendments to these reports,is available on our investor relations website,free of charge,after we file or furnish them with the SEC and the

138、y are available on the SECs website at www.sec.gov.We webcast via our investor relations YouTube channel and website our earnings calls and certain events weparticipate in or host with members of the investment community.Our investor relations website also providesnotifications of news or announceme

139、nts regarding our financial performance and other items that may be material or ofinterest to our investors,including SEC filings,investor events,press and earnings releases,and blogs.We also shareGoogle news and product updates on Googles Keyword blog at https:/www.blog.google/and News From Google

140、pageon X at our executive officers may also use certain social media channels,such as Xand LinkedIn,to communicate information about earnings results and company updates,which may be of interest ormaterial to our investors.Further,corporate governance information,including our certificate of incorpo

141、ration,bylaws,governance guidelines,board committee charters,and code of conduct,is also available on our investor relationswebsite under the heading Governance.The information contained on,or that may be accessed through our websitesor our executive officers social media channels,is not incorporate

142、d by reference into this Annual Report on Form 10-Kor in any other report or document we file with the SEC,and any references to our websites are intended to be inactivetextual references only.ITEM 1A.RISK FACTORSOur operations and financial results are subject to various risks and uncertainties,inc

143、luding but not limited tothose described below,which could harm our business,reputation,financial condition,and operating results,and affectthe trading price of our Class A and Class C stock.Risks Specific to our CompanyWe generate a significant portion of our revenues from advertising.Reduced spend

144、ing by advertisers,aloss of partners,or new and existing technologies that block ads online and/or affect our ability to personalizeads could harm our business.We generated more than 75%of total revenues from online advertising in 2024.Many of our advertisers,companies that distribute our products a

145、nd services,digital publishers,and content providers can terminate theircontracts with us at any time.These partners may not continue to do business with us if we do not create more value(such as increased numbers of users or customers,new sales leads,increased brand awareness,or more effective10.Ta

146、ble of ContentsAlphabet Inc.monetization)than their available alternatives.Changes to our advertising policies and data privacy practices,such asour initiatives related to third-party cookies,including our announcement in July 2024 to move from phasing out allthird-party cookies to a proposed user c

147、hoice model(which remains subject to continuing discussions with regulators),as well as changes to other companies advertising and/or data privacy practices have in the past,and may in thefuture,affect the advertising services that we are able to provide.In addition,technologies have been developed

148、thatmake personalized ads more difficult,or that block the display of ads altogether,and some providers of online serviceshave integrated technologies that could potentially impair the availability and functionality of third-party digitaladvertising.Failing to provide superior value or deliver adver

149、tisements effectively and competitively could harm ourbusiness,reputation,financial condition,and operating results.In addition,expenditures by advertisers tend to correlate with overall economic conditions.Adversemacroeconomic conditions have affected,and may in the future affect,the demand for adv

150、ertising,resulting influctuations in the amounts our advertisers spend on advertising,which could harm our financial condition andoperating results.We face intense competition.If we do not continue to innovate and provide products and services that areuseful to users,customers,and other partners,we

151、may not remain competitive,which could harm ourbusiness,financial condition,and operating results.Our business environment is rapidly evolving and intensely competitive.Our businesses face changingtechnologies,shifting user needs,and frequent introductions of rival products and services.To compete s

152、uccessfully,we must accurately anticipate technology developments and deliver innovative,relevant and useful products,services,and technologies in a timely manner.As our businesses evolve,the competitive pressure to innovate will encompass awider range of products and services.We must continue to in

153、vest significant resources in technical infrastructure andR&D,including through acquisitions,in order to enhance our technology,products,and services.We have many competitors in different industries.Our current and potential domestic and internationalcompetitors range from large and established comp

154、anies to emerging start-ups.Some competitors have longeroperating histories and well-established relationships in various sectors.They can use their experience and resourcesin ways that could affect our competitive position,including by making acquisitions and entering into other strategicarrangemen

155、ts;continuing to invest heavily in technical infrastructure,R&D,and in talent;initiating intellectual propertyand competition claims(whether or not meritorious);and continuing to compete for users,advertisers,customers,andcontent providers.Further,discrepancies in enforcement of existing laws may en

156、able our lesser known competitors toaggressively interpret those laws without commensurate scrutiny,thereby affording them competitive advantages.Ourcompetitors may also be able to innovate and provide products and services faster or more cost effectively than we canor may foresee the need for produ

157、cts and services before we do.We are expanding our investment in AI across the entire company.This includes generative AI and continuing tointegrate AI capabilities into our products and services.AI technology and services are highly competitive,rapidlyevolving,and require significant investment,inc

158、luding technical infrastructure,development and operational costs,tomeet the changing needs and expectations of our existing users and attract new users.Our ability to deploy certain AItechnologies critical for our products and services and for our business strategy may depend on the availability an

159、dpricing of third-party equipment and other technical infrastructure operations costs,including network capacity,energy,and equipment costs.Additionally,other companies may develop AI products and technologies that are similar orsuperior to our technologies or more cost-effective to develop and/or d

160、eploy.Other companies may also have(or in thefuture may obtain)patents or other proprietary rights that would prevent,limit,or interfere with our ability to make,use,or sell our own AI products and services.Our financial condition and operating results may also suffer if our products and services ar

161、e not responsive in atimely manner to the evolving needs and desires of our users,advertisers,publishers,customers,and contentproviders,or if we miscalculate those needs and desires and invest significantly in areas that fail to gain sufficientmarket traction.As new and existing technologies continu

162、e to develop,competitors and new entrants may be able tooffer experiences that are,or that are perceived to be,substantially similar to or better than ours.These technologiescould reduce usage of our products and services,and force us to compete in different ways and expend significantresources to d

163、evelop and operate equal or better products and services.Competitors success in providing compellingproducts and services or in attracting and retaining users,advertisers,publishers,customers,and content providerscould harm our financial condition and operating results.Our ongoing investment in new

164、businesses,products,services,and technologies is inherently risky,andcould divert management attention and harm our business,financial condition,and operating results.We have invested and expect to continue to invest in new businesses,products,services,and technologies in awide range of industries b

165、eyond online advertising.The investments that we are making across our businesses,such11.Table of ContentsAlphabet Inc.as building AI capabilities into new and existing products and services,reflect our ongoing efforts to innovate andprovide products and services that are helpful to users,advertiser

166、s,publishers,customers,and content providers.Ourinvestments ultimately may not be commercially viable or may not result in an adequate return of capital and,inpursuing new strategies,we may incur unanticipated liabilities.We have invested significantly and expect to continue to invest significantly

167、in our property and equipment,including our technical infrastructure,and we expect these assets to benefit our business over their estimated usefullives.Changes in facts and circumstances such as changes to ongoing business operations,changes in the planneduse and utilization of assets,and/or techno

168、logical advancements,could indicate a change in the period over which weexpect to benefit from the asset and impact our financial condition and operating results.Innovations in our products and services could also result in changes to user behavior and affect our revenuetrends.These endeavors involv

169、e significant risks and uncertainties,including diversion of resources and managementattention from current operations,different monetization models,and the use of alternative investment,governance,orcompensation structures that may fail to adequately align incentives across the company or otherwise

170、 accomplish theirobjectives.Within Google Services,we continue to invest heavily in devices,including our smartphones,home devices,andwearables,which is a highly competitive market with frequent introduction of new products and services,rapid adoptionof technological advancements by competitors,incr

171、eased market saturation in developed countries,short product lifecycles,evolving industry standards,continual improvement in performance characteristics,and price and featuresensitivity on the part of consumers and businesses.There can be no assurance we will be able to provide devices thatcompete e

172、ffectively.Within Google Cloud,we devote significant resources to develop and deploy our enterprise-ready cloud services,including Google Cloud Platform and Google Workspace,and we are advancing our AI platforms and models tosupport these tools and technologies.We are incurring costs to build and ma

173、intain infrastructure to support cloudcomputing services,invest in cybersecurity,and hire talent,particularly to support and scale our sales force.At thesame time,our competitors are rapidly developing and deploying cloud-based services.Pricing,including platformswitching costs,are challenging acros

174、s the industry,and delivery models are competitive and constantly evolving,andwe may therefore not achieve our business objectives.Further,our business with financial services,healthcare,andpublic sector customers may present additional risks,including regulatory compliance risks.For instance,we may

175、 besubject to government audits and cost reviews,and any failure to comply or any deficiencies found may expose us tolegal,financial,and/or reputational risks.Evolving laws and regulations may require us to make new capitalinvestments,build new products,and seek partners to deliver localized service

176、s in other countries,and we may not beable to meet sovereign operating requirements.Within Other Bets,we are investing significantly in areas such as health,life sciences,and transportation,amongothers.These investment areas face intense competition from large,experienced,and well-funded competitors

177、,andour offerings,many of which involve the development of new and emerging technologies,may not be successful,or beable to compete effectively or operate at sufficient levels of profitability.In addition,new and evolving products and services,including those that use AI,raise ethical,technological,

178、legal,regulatory,and other challenges,which may negatively affect our brands and demand for our products and services.Because all of these investment areas are inherently risky,no assurance can be given that such strategies andofferings will be successful or will not harm our reputation,financial co

179、ndition,and operating results.Our revenue growth rate could decline over time,and we may experience downward pressure on ouroperating margin in the future.Our revenue growth rate could decline over time as a result of a number of factors,including changes in thedevices and modalities used to access

180、our products and services;changes in geographic mix;deceleration or declinesin advertiser spending;competition;changes in customer usage and demand for our existing products and increasingdemand for new technologies;decreases in the pricing of our products and services;ongoing product and policychan

181、ges;and shifts to lower priced products and services.In addition,we may experience downward pressure on our operating margin resulting from a variety of factors,such as an increase in the mix of lower-margin products and services,in particular from the continued expansion of ourbusiness into new fie

182、lds,including products and services such as our devices,Google Cloud,and consumersubscription products,as well as significant investments in Other Bets,all of which may have margins lower than thosewe generate from advertising.In particular,margins on our devices have had,and may continue to have,an

183、 adverseeffect on our consolidated margins due to pressures on pricing and higher cost of sales.We may also experiencedownward pressure on our operating margins from increasing regulations,increasing competition,and increasing costs12.Table of ContentsAlphabet Inc.for many aspects of our business,in

184、cluding higher level of investment in technical infrastructure.Further,certain of ourcosts and expenses are generally less variable in nature and may not correlate to changes in revenue.We may alsonot be able to continue to execute our efficiency efforts successfully or in a timely manner.Due to the

185、se factors and theevolving nature of our business,our historical revenue growth rate and historical operating margin may not beindicative of our future performance.For additional information,see Trends in Our Business and Financial Effect andRevenues and Monetization Metrics in Part II,Item 7 of thi

186、s Annual Report on Form 10-K.Our intellectual property rights are valuable,and any inability to protect them could reduce the value ofour products,services,and brands as well as affect our ability to compete.Our patents,trademarks,trade secrets,copyrights,and other intellectual property rights are i

187、mportant assets forus.Various events outside of our control pose a threat to our intellectual property rights,as well as to our products,services,and technologies.For example,effective intellectual property protection may not be available in every countryin which our products and services are distri

188、buted or made available through the Internet.Also,the efforts we havetaken to protect our proprietary rights may not be sufficient or effective.Although we seek to obtain patent protection forour innovations,it is possible we may not be able to protect some of these innovations.Moreover,we may not h

189、aveadequate patent or copyright protection for certain innovations that later turn out to be important.There is always thepossibility that the scope of the protection gained will be insufficient or that an issued patent may be deemed invalid orunenforceable.We also seek to maintain certain intellect

190、ual property as trade secrets.The secrecy of such trade secrets andother sensitive information could be compromised,which could cause us to lose the competitive advantage resultingfrom these trade secrets.We also face risks associated with our trademarks.For example,there is a risk that the word“Goo

191、gle”could become so commonly used that it becomes synonymous with the word“search.”Some courts haveruled that Google is a protectable trademark,but it is possible that other courts,particularly those outside of the U.S.,may reach a different determination.If this happens,we could lose protection for

192、 this trademark,which could result inother people using the word“Google”to refer to their own products,thus diminishing our brand.Any significant impairment of our intellectual property rights could harm our business and our ability to compete.Also,protecting our intellectual property rights is cost

193、ly and time consuming.Any increase in the unauthorized use ofour intellectual property could make it more expensive to do business and harm our financial condition and operatingresults.Our business depends on strong brands,and failing to maintain and enhance our brands would hurt ourability to expan

194、d our base of users,advertisers,customers,content providers,and other partners.Our strong brands have significantly contributed to the success of our business.Maintaining and enhancing thebrands within Google Services,Google Cloud,and Other Bets increases our ability to enter new categories and laun

195、chnew and innovative products and services that better serve the needs of our users,advertisers,customers,contentproviders,and other partners.Our brands have been,and may in the future be,negatively affected by a number offactors,including,among others,reputational issues,third-party content shared

196、on our platforms,data privacy andsecurity issues and developments,and product or technical performance failures.For example,if we fail to respondappropriately to the sharing of misinformation or objectionable content on our services and/or products or objectionablepractices by advertisers,or otherwi

197、se to adequately address user concerns,our users may lose confidence in ourbrands.Furthermore,failure to maintain and enhance our brands could harm our business,reputation,financial condition,and operating results.Our success will depend largely on our ability to remain a technology leader and conti

198、nue toprovide high-quality,trustworthy,innovative products and services that are truly useful and play a valuable role in arange of settings.We face a number of manufacturing and supply chain risks that could harm our business,financialcondition,and operating results.We face a number of risks relate

199、d to manufacturing and supply chain management,which could affect our abilityto supply both our products and our services.We rely on contract manufacturers to manufacture or assemble our devices as well as servers and networkingequipment used in our technical infrastructure,certain components of whi

200、ch we may supply.We rely on third parties tosupply components and distribute our products and services.Our business could be negatively affected if we are notable to engage these companies with the necessary capabilities or capacity on reasonable terms,or if those weengage fail to meet their obligat

201、ions(whether due to financial difficulties or other reasons),or make adverse changes inthe pricing or other material terms of our arrangements with them.13.Table of ContentsAlphabet Inc.We have experienced and/or may in the future experience supply shortages,price increases,quality issues,and/or lon

202、ger lead times that could negatively affect our operations,driven by raw material and/or componentavailability,manufacturing capacity,labor shortages,industry allocations,logistics capacity,inflation,foreign currencyexchange rates,tariffs,sanctions and export controls,trade disputes and barriers,for

203、ced labor concerns,sustainabilitysourcing requirements,geopolitical tensions,armed conflicts,natural disasters or pandemics,the effects of climatechange(such as sea level rise,drought,flooding,heat waves,wildfires and resultant air quality effects and powershutdowns associated with wildfire preventi

204、on,and increased storm severity),power and transmission availability,andsignificant changes in the financial or business condition of our suppliers.Some of the components we use in ourtechnical infrastructure and our devices are available from only one or limited sources,and we may not be able to fi

205、ndreplacement vendors on favorable terms in the event of a supply chain disruption.A significant supply interruption thataffects us or our vendors could delay critical data center upgrades or expansions and delay consumer productavailability.We may enter into long-term contracts for materials and pr

206、oducts that commit us to significant terms andconditions.We may face costs for materials and products that are not consumed due to market demand,technologicalchange,changed consumer preferences,quality,product recalls,and warranty issues.For instance,because certain ofour hardware supply contracts h

207、ave volume-based pricing or minimum purchase requirements,if the volume of sales ofour devices decreases or does not reach projected targets,we could face increased materials and manufacturing costsor other financial liabilities that could make our products more costly per unit to manufacture and ha

208、rm our financialcondition and operating results.Furthermore,certain of our competitors may negotiate more favorable contractualterms based on volume and other commitments that may provide them with competitive advantages and may affect oursupply.For example,industry supply capacity for AI accelerato

209、rs,including Graphics Processing Units,or GPUs,aswell as our custom-built TPUs,is highly competitive and rapidly evolving.If we are unable to negotiate favorablecontractual terms or our competitors claim the supply or capacity first,we may face supply constraints.Our devices have had,and in the futu

210、re may have,quality issues resulting from design,manufacturing,oroperations.Sometimes,these issues may be caused by components we purchase from other manufacturers orsuppliers.If the quality of our products and services does not meet expectations or our products or services aredefective or require a

211、 recall,it could harm our business,reputation,financial condition,and operating results.We require our suppliers and business partners to comply with laws and,where applicable,our company policiesand practices,such as the Google Supplier Code of Conduct,regarding workplace and employment practices,d

212、atasecurity,environmental compliance,and intellectual property licensing,but we do not control them or their practices.Violations of law or unethical business practices could result in supply chain disruptions,canceled orders,harm to keyrelationships,and damage to our reputation.Their failure to pro

213、cure necessary license rights to intellectual propertycould affect our ability to sell our products or services and expose us to litigation or financial claims.Interruption to,interference with,or failure of our complex information technology and communicationssystems could hurt our ability to effec

214、tively provide our products and services,which could harm ourreputation,financial condition,and operating results.The availability of our products and services and fulfillment of our customer contracts depend on the continuingoperation of our information technology and communications systems.Our sys

215、tems are vulnerable to damage,interference,or interruption from modifications or upgrades,terrorist attacks,state-sponsored attacks,natural disastersor pandemics,geopolitical tensions or armed conflicts,export controls and sanctions,the effects of climate change(such as sea level rise,drought,floodi

216、ng,heat waves,wildfires and resultant air quality effects and power shutdownsassociated with wildfire prevention,and increased storm severity),power and transmission availability challenges,utilityoutages,telecommunications failures,computer viruses,software bugs,cyber attacks,supply-chain attacks,c

217、omputerdenial of service attacks,phishing schemes,or other attempts to harm or access our systems.Some of our datacenters are located in areas with a high risk of major earthquakes or other natural disasters.Our data centers are alsosubject to break-ins,sabotage,and intentional acts of vandalism,and

218、,in some cases,to potential disruptions resultingfrom problems experienced by facility operators or disruptions as a result of geopolitical tensions and conflictshappening in the area.Some of our systems are not fully redundant,and disaster recovery planning cannot account forall eventualities.The o

219、ccurrence of a natural disaster or pandemic,closure of a facility,or other unanticipated problemsaffecting our data centers could result in lengthy interruptions in our service.In addition,our products and services arehighly technical and complex and have contained in the past,and may contain in the

220、 future,errors or vulnerabilities,which could result in interruptions in or failure of our services or systems.Any of these incidents could impede orprevent us from effectively offering products and providing services,which could harm our business,reputation,financial condition,and operating results

221、.Our international operations expose us to additional risks that could harm our business,reputation,financial condition,and operating results.14.Table of ContentsAlphabet Inc.Our international operations are significant to our revenues and net income,and we plan to continue to growinternationally.In

222、ternational revenues accounted for approximately 51%of our consolidated revenues in 2024.Inaddition to risks described elsewhere in this section,our international operations expose us to other risks,including thefollowing:restrictions on foreign ownership and investments,and stringent foreign exchan

223、ge controls that might preventus from repatriating cash earned in countries outside the U.S.;sanctions,import and export controls,other market access barriers,political unrest,geopolitical tensions,changes in regimes,or armed conflict(such as ongoing conflicts in the Middle East and Ukraine),any of

224、whichmay affect our business continuity,increase our operating costs,limit demand for our products and services,limit our ability to source components or final products,or prevent or impede us from operating in certainjurisdictions,complying with local laws,or offering products or services;longer pa

225、yment cycles in some countries,increased credit risk,and higher levels of payment fraud;an evolving foreign policy landscape that could harm our revenues and could subject us to litigation,newregulatory costs and challenges(including new customer requirements),uncertainty regarding regulatoryoutcome

226、s,and other liabilities under local laws that may not offer due process or clear legal precedent;anti-corruption laws,such as the U.S.Foreign Corrupt Practices Act,and other local laws prohibiting certainpayments to government officials,violations of which could result in civil and criminal penaltie

227、s;anddifferent employee/employer relationships;different labor laws,regulations,and labor practices;and otherchallenges caused by distance,language,local expertise,and cultural differences,increasing the complexity ofdoing business in multiple jurisdictions.Because we conduct business in currencies

228、other than U.S.dollars but report our financial results in U.S.dollars,we have faced,and will continue to face,exposure to fluctuations in foreign currency exchange rates.Although wehedge a portion of our international currency exposure,significant fluctuations in exchange rates between the U.S.doll

229、ar and foreign currencies have in the past and may in the future adversely affect our revenues and earnings.Hedging programs are also inherently risky and could expose us to additional risks that could harm our financialcondition and operating results.We are exposed to fluctuations in the fair value

230、s of our investments and,in some instances,our financialstatements incorporate inherently subjective valuation methodologies.The fair value of our debt and equity investments may in the future be,and certain investments have been in thepast,negatively affected by liquidity,credit deterioration or lo

231、sses,performance and financial results of the underlyingentities,foreign exchange rates,changes in interest rates,the effect of new or changing regulations,the stock marketin general,or other factors.We measure certain of our non-marketable equity and debt securities,certain other instruments includ

232、ing stock-based compensation awards settled in the stock of Other Bet companies,and certain assets and liabilities acquired in abusiness combination,at fair value on a nonrecurring basis,which is inherently subjective and requires managementjudgment and estimation.All gains and losses on non-marketa

233、ble equity securities are recognized in OI&E,whichincreases the volatility of our OI&E.The unrealized gains and losses or impairments we record from fair valueremeasurements in any particular period may differ significantly from the gains and losses we ultimately realize on suchinvestments.As a resu

234、lt of these factors,the value of our investments could decline,which could harm our financial conditionand operating results.Risks Related to our IndustryPeople access our products and services through a variety of platforms and devices that continue toevolve with the advancement of technology and u

235、ser preferences.If manufacturers and users do not widelyadopt versions of our products and services developed for these interfaces,our business could be harmed.People access our products and services through a growing variety of devices such as desktop computers,phones,laptops and tablets,video game

236、 consoles,voice-activated speakers,wearables(including virtual reality andaugmented reality devices),automobiles,and television-streaming devices.Our products and services may be lesspopular on some interfaces.Each manufacturer or distributor may establish unique technical standards for its devices,

237、and our products and services may not be available or may only be available with limited functionality for our users orour advertisers on these devices as a result.Some manufacturers may also elect not to include our products on theirdevices.15.Table of ContentsAlphabet Inc.It is hard to predict the

238、 challenges we may encounter in adapting our products and services and developingcompetitive new products and services.We expect to continue to devote significant resources to creating andsupporting products and services across multiple platforms and devices.Failing to attract and retain a substanti

239、alnumber of device manufacturers,suppliers,distributors,developers,and users,or failing to develop products andtechnologies that work well on new devices and platforms,could harm our business,financial condition,and operatingresults and ability to capture future business opportunities.Issues in the

240、development and use of AI may result in reputational harm and increased liability exposure.Our evolving AI-related efforts may give rise to risks related to harmful content,inaccuracies,discrimination,intellectual property infringement or misappropriation,violation of rights of publicity,defamation,

241、data privacy,cybersecurity,and other issues.As a result of these and other challenges associated with innovative technologies,ourimplementation of AI systems could subject us to competitive harm,regulatory action,legal liability(including undernew and proposed legislation and regulations),new applic

242、ations of existing data protection,privacy,intellectualproperty,and other laws,and brand or reputational harm.Some uses of AI will present ethical issues and may have broad effects on society.In order to implement AIresponsibly and minimize unintended harmful effects,we have already devoted and will

243、 continue to invest significantresources to develop,test,and maintain our products and services,but we may not be able to identify or resolve all AI-related issues,deficiencies,and/or failures before they arise.Unintended consequences,uses,or customization of ourAI tools and systems may negatively a

244、ffect human rights,privacy,employment,or other social concerns,which mayresult in claims,lawsuits,brand or reputational harm,and increased regulatory scrutiny,any of which could harm ourbusiness,financial condition,and operating results.Data privacy and security concerns relating to our technology a

245、nd our practices could harm ourreputation,cause us to incur significant liability,and deter current and potential users or customers fromusing our products and services.Computer viruses,software bugs or defects,security breaches,and attackson our systems could result in the improper disclosure and u

246、se of user data and interference with our usersand customers ability to use our products and services,harming our business and reputation.Concerns about,including the adequacy of,our practices with regard to the collection,use,governance,disclosure,or security of personal data or other data-privacy-

247、related matters,even if unfounded,could harm ourbusiness,reputation,financial condition,and operating results.Our policies and practices may change over time asexpectations and regulations regarding privacy and data change.Our products and services involve the storage,handling,and transmission of pr

248、oprietary and other sensitiveinformation.Malicious software such as viruses,software bugs,theft,misuse,defects,vulnerabilities in our productsand services,as well as cyber attacks,phishing schemes,and other types of security breaches expose us to a risk ofloss or improper use and disclosure of such

249、information,which could result in litigation and other potential liabilities,including regulatory fines and penalties,as well as reputational harm.Additionally,our products incorporate highlytechnical and complex technologies,and thus our technologies and software have contained,and are likely in th

250、efuture to contain,undetected errors,bugs,and/or vulnerabilities.We continue to add new features involving AI to ourofferings and internal systems,and features that rely on AI may be susceptible to unanticipated security threats as ourand the markets understanding of AI-centric security risks and pr

251、otection methods continue to develop.We have in thepast discovered,and may in the future discover,some errors in our software code only after we have released thecode.Systems and control failures,security breaches,failure to comply with our privacy policies,and/or inadvertentdisclosure of user data

252、could result in regulatory and legal exposure,seriously harm our reputation,brand,andbusiness,and impair our ability to attract and retain users or customers.Such incidents have occurred in the past andmay continue to occur due to the scale and nature of our products and services.While there is no g

253、uarantee that suchincidents will not cause significant damage,we expect to continue to expend significant resources to maintain securityprotections that limit the effect of bugs,theft,misuse,and security vulnerabilities or breaches.We experience cyber attacks and other attempts to gain unauthorized

254、access to our systems on a regular basis.Cyber attacks continue to evolve in sophistication and volume,and inherently may be difficult to detect for long periodsof time.For example,the development and implementation of AI technologies may further increase our exposure to orexacerbate the risks of cy

255、ber attacks or other security incidents,particularly where such technologies are exploited bythird parties to breach our or other parties systems,including when such technologies are used to target ouremployees or impersonate members of senior management in order to gain unauthorized access to our s

256、ystems.Wehave also seen,and will continue to see,industry-wide software supply chain vulnerabilities,which could affect our orother parties systems.We expect to continue to experience such incidents or vulnerabilities in the future.Our efforts toprevent security incidents and address undesirable act

257、ivity on our platform may require us to spend additionalresources to prepare and defend against such threats,and could also increase the risk of retaliatory attack.In addition,16.Table of ContentsAlphabet Inc.we face the risk of cyber attacks by nation-states and state-sponsored actors.These attacks

258、 may target us or ourcustomers,particularly our public sector customers(including federal,state,and local governments).Geopoliticaltensions or armed conflicts,such as the ongoing conflict in the Middle East and Ukraine,may increase these risks.We may experience security and/or privacy issues,whether

259、 due to employee or insider error or malfeasance,system errors,or vulnerabilities in our or other parties systems.While we may not determine some of these issues tobe material at the time they occur and may remedy them quickly,there is no guarantee that these issues will notultimately result in sign

260、ificant legal,financial,and reputational harm,including government inquiries,enforcementactions,litigation,and negative publicity.There is also no guarantee that a series of related issues may not bedetermined to be material at a later date in the aggregate,even if they may not be material individua

261、lly at the time oftheir occurrence.Because the techniques used to obtain unauthorized access to,disable or degrade service providedby or otherwise sabotage systems change frequently and often are recognized only after being launched against atarget,even taking all reasonable precautions,including th

262、ose required by law,we have been unable in the past andmay continue to be unable to anticipate or detect attacks or vulnerabilities or implement adequate preventativemeasures.Further,if any partners with whom we share user or other customer information fail to implement adequate data-security practi

263、ces,fail to comply with our terms and policies,or otherwise suffer a network or other security breach,ourusers data may be improperly accessed,used,or disclosed.If an actual or perceived breach of our or our businesspartners or service providers security occurs,the market perception of the effective

264、ness of our security measureswould be harmed,we could lose users and customers,our trade secrets or those of our business partners may becompromised,and we may be exposed to significant legal and financial risks,including legal claims(which may includeclass-action litigation)and regulatory actions,f

265、ines,and penalties.Any of the foregoing consequences could harm ourbusiness,reputation,financial condition,and operating results.While we have dedicated significant resources to privacy and security incident response capabilities,includingdedicated worldwide incident response teams,our response proc

266、ess,particularly during times of a natural disaster orpandemic,may not be adequate,may fail to accurately assess the severity of an incident,may not be fast enough toprevent or limit harm,or may fail to sufficiently remediate an incident.As a result,we may suffer significant legal,reputational,or fi

267、nancial exposure,which could harm our business,financial condition,and operating results.For additional information,see also our risk factor on privacy and data protection regulations under Risks Relatedto Laws,Regulations,and Policies below.Our ongoing investments in safety,security,and content rev

268、iew will likely continue to identify abuse ofour platforms and misuse of user data.In addition to our efforts to prevent and mitigate cyber attacks,we are making significant investments in safety,security,and review efforts to combat misuse of our services and unauthorized access to user data by thi

269、rd parties,including investigation and review of platform applications that could access the information of users of our services.Asa result of these efforts,we have in the past discovered,and may in the future discover,incidents of unnecessaryaccess to or misuse of user data or other undesirable ac

270、tivity by third parties.However,we may not have discovered,and may in the future not discover,all such incidents or activity,whether as a result of our data limitations,including ourlack of visibility over our encrypted services,the scale of activity on our platform,or other factors,including factor

271、soutside of our control such as a natural disaster or pandemic,and we may learn of such incidents or activity via thirdparties.Such incidents and activities may include the use of user data or our systems in a manner inconsistent with ourterms,contracts or policies,the existence of false or undesira

272、ble user accounts,election interference,improper adpurchases,activities that threaten peoples safety on-or off-line,or instances of spamming,scraping,or spreadingdisinformation.While we may not determine some of these incidents to be material at the time they occurred and wemay remedy them quickly,t

273、here is no guarantee that these issues will not ultimately result in significant legal,financial,and reputational harm,including government inquiries and enforcement actions,litigation,and negative publicity.Thereis also no guarantee that a series of related issues may not be determined to be materi

274、al at a later date in theaggregate,even if they may not be material individually at the time of their occurrence.We may also be unsuccessful in our efforts to enforce our policies or otherwise prevent or remediate any suchincidents.Any of the foregoing developments may negatively affect user trust a

275、nd engagement,harm our reputationand brands,require us to change our business practices in ways that harm our business operations,and adverselyaffect our business and financial results.Any such developments may also subject us to additional litigation andregulatory inquiries,which could result in mo

276、netary penalties and damages,divert managements time and attention,and lead to enhanced regulatory oversight.17.Table of ContentsAlphabet Inc.Problematic content on our platforms,including low-quality user-generated content,web spam,contentfarms,and other violations of our guidelines could affect th

277、e quality of our services,which could harm ourreputation and deter our current and potential users from using our products and services.We,like others in the industry,face violations of our content guidelines across our platforms,includingsophisticated attempts by bad actors to manipulate our hostin

278、g and advertising systems to fraudulently generaterevenues,or to otherwise generate traffic that does not represent genuine user interest or intent.While we investsignificantly in efforts to promote high-quality and relevant results and to detect and prevent low-quality content andinvalid traffic,we

279、 have been unable and may continue to be unable to detect and prevent all such abuses or promoteuniformly high-quality content.Increased use of AI in our offerings and internal systems may create new avenues ofabuse for bad actors.Many websites violate or attempt to violate our guidelines,including

280、by seeking to inappropriately rank higher insearch results than our search engines assessment of their relevance and utility would rank them.Such efforts haveaffected,and may continue to affect,the quality of content on our platforms and lead them to display false,misleading,or undesirable content.A

281、lthough English-language web spam in our search results has been reduced,and web spamin most other languages is limited,we expect web spammers will continue to seek inappropriate ways to improve theirrankings.Although we continue to invest in and deploy proprietary technology to detect and prevent w

282、eb spam on ourplatforms,there is no guarantee that our technology will always be successful,and our users may have negativeexperiences on our platforms if our technology fails to work as intended,which may affect our users decisions incontinuing to use our platforms.We also face other challenges fro

283、m low-quality and irrelevant content websites,including content farms,which are websites that generate large quantities of low-quality content to help them improvetheir search rankings.We are continually launching algorithmic changes designed to detect and prevent abuse fromlow-quality websites,but

284、we may not always be successful.We also face other challenges on our platforms,includingviolations of our content guidelines involving incidents such as attempted election interference;activities that threatenthe safety and/or well-being of our users,including minors,on-or off-line;and the spreading

285、 of misinformation ordisinformation.If we fail to either detect and prevent an increase in problematic content or effectively promote high-qualitycontent,it could hurt our reputation for delivering relevant information or reduce use of our platforms,harming ourfinancial condition and operating resul

286、ts.It may also subject us to litigation and regulatory actions,which could result inmonetary penalties and damages and divert managements time and attention.Our business depends on continued and unimpeded access to the Internet by us and our users.Internetaccess providers may be able to restrict,blo

287、ck,degrade,or charge for access to certain of our products andservices,which could lead to additional expenses and the loss of users and advertisers.Our products and services depend on the ability of our users to access the Internet,and certain of our productsrequire significant network capacity to

288、work effectively.Currently,this access is provided by companies that havesignificant market power in the broadband and internet access marketplace,including incumbent telephone companies,cable companies,mobile communications companies,and government-owned service providers.Some of theseproviders hav

289、e taken,or have stated that they may take,measures that could degrade,disrupt,or increase the cost ofuser access to certain of our products by restricting or prohibiting the use of their infrastructure to support or facilitateour offerings,by charging increased fees to us or our users to provide our

290、 offerings,or by providing our competitorspreferential access.Some jurisdictions have adopted regulations prohibiting certain forms of discrimination by internetaccess providers;however,substantial uncertainty exists in the U.S.and elsewhere regarding such protections.Inaddition,in some jurisdiction

291、s,our products and services have been subject to government-initiated restrictions orblockages.These could harm existing key relationships,including with our users,customers,advertisers,and/orcontent providers,and impair our ability to attract new ones;harm our reputation;and increase costs,therebyn

292、egatively affecting our business.Risks Related to Laws,Regulations,and PoliciesWe are subject to a variety of new,existing,and changing laws and regulations worldwide that could harmour business,and will likely be subject to an even broader scope of laws and regulations as we continue toexpand our b

293、usiness.We are subject to numerous U.S.federal and state as well as foreign laws and regulations covering a wide varietyof subjects,and our introduction of new businesses,products,services,and technologies will likely continue to subjectus to additional laws and regulations.In recent years,governmen

294、ts around the world have proposed and adopted alarge number of new laws and regulations relevant to the digital economy,particularly in the areas of data privacy andsecurity,competition,AI,and online content.The costs of compliance with these measures are high and are likely toincrease in the future

295、,including as a result of differing,and sometimes conflicting,laws and regulations.18.Table of ContentsAlphabet Inc.New or changing laws and regulations,or interpretations or applications of existing laws and regulations in amanner inconsistent with our interpretations of such laws and regulations a

296、nd/or our practices,have resulted in,andmay continue to result in,less useful products and services,altered business models and operations,limited ability topursue certain business practices or offer certain products and services,substantial costs,and civil or criminal liability.Examples include law

297、s and regulations regarding:Competition and technology platforms business practices:Laws and regulations focused on largetechnology platforms,including the Digital Markets Act in the European Union(EU);regulations and legalsettlements in the U.S.,South Korea,and elsewhere that affect Google Plays bi

298、lling policies,fees,andbusiness model;as well as litigation and new and expected regulations in a range of jurisdictions,including,among others,in the UK,Japan,and India.AI:Laws and regulations focused on the development,use,and provision of AI technologies and other digitalproducts and services,whi

299、ch could result in monetary penalties or other regulatory actions.For example,theEU AI Act came into force on August 1,2024,and will generally become fully applicable after a two-yeartransitional period(although certain obligations will take effect at an earlier or later time).The EU AI Actintroduce

300、s various requirements for AI systems and models placed on the market or put into service in the EU,including specific transparency and other requirements for general purpose AI systems and the models onwhich those systems are based.In the U.S.,there is increasing uncertainty as to the federal gover

301、nmentsapproach to AI regulation going forward,as the continued applicability of the White Houses 2023 ExecutiveOrder on the Safe,Secure,and Trustworthy Development and Use of Artificial Intelligence,which lays out aframework for the U.S.government,among other things,to monitor private sector develop

302、ment of certainfoundation models,remains subject to regulatory development.Several states are considering enacting orhave already enacted regulations concerning the use of AI technologies,including those focused on consumerprotection,and depending on the scope of AI regulation at the federal level,s

303、ome states may move to regulateAI model development and deployment.Further,at the federal and state level,there have been variousproposals(and in some cases laws enacted)addressing“deepfakes”and other AI-generated synthetic media.Data privacy,collection,processing,and portability:Laws and regulation

304、s further restricting the collection,processing,and/or sharing of user or advertising-related data,including privacy and data protection laws;lawsaffecting the processing of childrens data(as discussed further below),data breach notification laws;lawslimiting data transfers(including data localizati

305、on laws);and laws requiring data portability(including the EUData Act,as discussed further below).Copyright and other intellectual property:Copyright and related laws,including the EU Directive onCopyright in the Digital Single Market and European Economic Area transpositions,which have introduced n

306、ewlicensing regimes,increase liability with respect to content uploaded by users or linked to from our platforms,orcreate property rights in news publications that could require payments to news agencies and publishers,whichmay result in other regulatory actions.Content moderation:Various laws cover

307、ing content moderation and removal,and related disclosureobligations,such as the EUs Digital Services Act,Floridas Senate Bill 7072 and Texas House Bill 20,andlaws and proposed legislation in Singapore,Australia,and the United Kingdom that impose penalties for failureto remove certain types of conte

308、nt or require disclosure of information about the operation of our services andalgorithms,which may make it harder for services like Google Search and YouTube to detect and deal withlow-quality,deceptive,or harmful content,or on the other hand,may impinge on the rights of free expression,which,in tu

309、rn,could impact how our platforms are viewed by users.Additionally,legislators are increasinglyfocused on regulating online child safety,including content protections for minors under eighteen years of age.These regulations could result in our having to modify our products and services and incur add

310、itional costs tooperate and monitor minors experiences on our products and services.Consumer protection:Consumer protection laws,including the EUs New Deal for Consumers,which couldresult in monetary penalties and create a range of new compliance obligations.In addition,the applicability and scope o

311、f these and other laws and regulations,as interpreted by courts,regulators,or administrative bodies,remain uncertain and could be interpreted in ways that harm our business.Forexample,we rely on statutory safe harbors,like those set forth in the Digital Millennium Copyright Act and Section 230of the

312、 Communications Decency Act in the U.S.and the Digital Services Act in Europe,to protect against liability forvarious linking,caching,ranking,recommending,and hosting activities.Legislation or court rulings affecting these safeharbors may harm us and may impose significant operational challenges.The

313、re are legislative proposals and pendinglitigation in the U.S.,EU,and around the world that could diminish or eliminate safe harbor protection for websites andonline platforms.Our development,use,and commercialization of AI products and services(including our19.Table of ContentsAlphabet Inc.implemen

314、tation of AI in our offerings and internal systems)could subject us to regulatory action and legal liability,including under specific legislation regulating AI,as well as new applications of existing data protection,cybersecurity,privacy,intellectual property,and other laws.Further,we are subject to

315、 evolving laws,regulations,policies,and international accords relating to matters beyondour core products and services,including environmental sustainability,climate change,human capital,and employmentmatters.In response,we have implemented robust programs,adopted reporting frameworks and principles

316、,andannounced a number of complex and ambitious goals and initiatives that may require considerable investments.Wecannot guarantee that our goals and initiatives will be fully realized on the timelines we expect or at all,and projectsthat are completed as planned may not achieve the results we antic

317、ipate.We are and may continue to be subject to claims,lawsuits,regulatory and government inquiries andinvestigations,enforcement actions,consent orders,and other forms of regulatory scrutiny and legal liability,including competition matters,that could harm our business,reputation,financial condition

318、,and operatingresults.We are subject to claims,lawsuits,regulatory and government inquiries and investigations,other proceedings,andorders involving competition,intellectual property,data privacy and security,tax and related compliance,labor andemployment,commercial disputes,content generated by our

319、 users,goods and services offered by advertisers orpublishers using our platforms,personal injury,and other matters.The U.S.Department of Justice(DOJ),various U.S.states,and other plaintiffs have filed,and may continue to filein the future,several antitrust lawsuits about various aspects of our busi

320、ness,including our advertising technologiesand practices,the operation and distribution of Google Search,and the operation and distribution of the Androidoperating system and Play Store.For example,the DOJ and a number of state Attorneys General filed a lawsuit alleging that Google violatedantitrust

321、 laws relating to Search and Search advertising,and in August 2024,the U.S.District Court for the District ofColumbia ruled that Google violated such antitrust laws.The Court is holding a separate proceeding to determineremedies,which could include alterations to our products and services and our bu

322、siness models and operations,including structural remedies,and/or our distribution arrangements,among other changes.While we plan to appeal,there can be no assurance that our appeal will succeed,or that we will be able to change or decrease the severity ofany remedies that may be ordered,and any or

323、all of these potential remedies could harm our business,reputation,financial condition,and operating results.Also,in December 2023,a California jury delivered a verdict in Epic Games v.Google finding that Google violatedantitrust laws relating to Google Plays business.The presiding judge issued a re

324、medies decision in October 2024 thatordered a variety of alterations to our business models and operations and contractual agreements for Android andGoogle Play.We are appealing the verdict,but if we are unsuccessful,we could face significant expenses to implementthe remedies,and such costs and alte

325、rations could harm our business,reputation,financial condition,and operatingresults.Furthermore,in December 2020,several State Attorneys General,led by the Texas Attorney General,filed anantitrust lawsuit in the U.S.District Court for the Eastern District of Texas alleging that Google violated antit

326、rust andother laws relating to its advertising technology.This case is set for trial in March 2025,and we could face significantcivil penalties.In January 2023,the DOJ and several Attorneys General sued in the Eastern District of Virginia allegingsimilar antitrust violations relating to Googles adve

327、rtising technology.Trial in the DOJ matter concluded in September2024 with a decision expected in early 2025.If we are unsuccessful,we could face an order on remedies that couldharm our business,reputation,financial condition,and operating results.In addition to these regulatory proceedings,private

328、individual and collective actions that overlap with claimspursued by regulators are pending in the U.S.and in several other jurisdictions.Adverse results in these or similarfuture lawsuits may include awards of monetary damages and remedies that could harm our business,reputation,financial condition

329、,and operating results.Other regulatory agencies in the U.S.and around the world,including competition enforcers,consumer protectionagencies,and data protection authorities,have challenged and may continue to challenge our business practices andcompliance with laws and regulations.We are cooperating

330、 with these investigations and defending litigation orappealing decisions where appropriate.We are also subject to a variety of claims including product warranty,product liability,and consumer protectionclaims related to product defects,among other litigation,and we may also be subject to claims inv

331、olving health andsafety,hazardous materials usage,other environmental effects,AI training,development,and commercialization,orservice disruptions or failures.Claims have been brought,and we expect will continue to be brought,against us for20.Table of ContentsAlphabet Inc.defamation,negligence,breach

332、es of contract,patent,copyright and trademark infringement,unfair competition,unlawful activity,torts,privacy rights violations,fraud,or other legal theories based on the nature and content ofinformation available on or via our services,the design and effect of our products and services,or due to ou

333、rinvolvement in hosting,transmitting,marketing,branding,or providing access to content created by third parties.Various laws,regulations,investigations,enforcement lawsuits,and regulatory actions have involved in the past,and may in the future result in substantial fines and penalties,injunctive relief,ongoing monitoring and auditingobligations,changes to our products and services,alterations to o