Company: GOOGL
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001652044-25-000043
Chunk: 35

Company: Alphabet Inc.
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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Derivative assets are recorded as other current and non-current assets in the Consolidated Balance Sheets.(2)    Derivative liabilities are recorded as accrued expenses and other liabilities, current and non-current in the Consolidated Balance Sheets.The gains (losses) on derivatives in cash flow hedging and net investment hedging relationships recognized in other comprehensive income (OCI) are summarized below (in millions):Three Months Ended March 31,20242025Derivatives in cash flow hedging relationship:Foreign exchange contractsAmount included in the assessment of effectiveness$155 $(339)Amount excluded from the assessment of effectiveness58 (61)Derivatives in net investment hedging relationship:Foreign exchange contractsAmount included in the assessment of effectiveness82 (206)Total$295 $(606)

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 The table below presents the gains (losses) of derivatives included in the Consolidated Statements of Income: (in millions):Three Months Ended March 31,20242025RevenuesOther income (expense), netRevenuesOther income (expense), netTotal amounts included in the Consolidated Statements of Income$80,539 $2,843 $90,234 $11,183 Effect of cash flow hedges:Foreign exchange contractsAmount reclassified from AOCI to income$74 $0 $242 $0 Amount excluded from the assessment of effectiveness (amortized)(2)0 18 0 Effect of fair value hedges:Foreign exchange contractsHedged items0 (16)0 (9)Derivatives designated as hedging instruments0 15 0 9 Amount excluded from the assessment of effectiveness0 3 0 1 Effect of net investment hedges:Foreign exchange contractsAmount excluded from the assessment of effectiveness0 36 0 31 Effect of non designated hedges:Foreign exchange contracts0 21 0 65 Other contracts0 76 0 (71)Total gains (losses)$72 $135 $260 $26 

Offsetting of DerivativesWe enter into master netting arrangements and collateral security arrangements to reduce credit risk. Cash collateral received related to derivative instruments under our collateral security arrangements are included in other current assets with a corresponding liability. Cash and non-cash collateral pledged related to derivative instruments under our collateral security arrangements are included in other current assets.The gross amounts of derivative instruments subject to master netting arrangements with various counterparties, and cash and non-cash collateral