Company: GOOGL
Filing Date: 2025-02-05
Form Type: 10-K
Source: 0001652044-25-000014
Chunk: 58

Company: Alphabet Inc.
Filing Date: 2025-02-05
Form: 10-K
Item: Item 8
Chunk 58
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 Class B common stock may be converted at any time at the option of the stockholder and automatically convert upon sale or transfer to Class A common stock.Share RepurchasesIn the years ended December 31, 2022, 2023, and 2024, we continued to repurchase both Class A and Class C shares in a manner deemed in the best interest of the company and its stockholders, taking into account the economic cost and prevailing market conditions, including the relative trading prices and volumes of the Class A and Class C shares. During the years ended December 31, 2022, 2023, and 2024, we repurchased $59.3 billion, $62.2 billion, and $62.0 billion, respectively, of Alphabet's Class A and Class C shares.In April 2024, the Board of Directors of Alphabet authorized the company to repurchase up to an additional $70.0 billion of its Class A and Class C shares. As of December 31, 2024, $44.7 billion remained available for Class A and Class C share repurchases. The following table presents Class A and Class C shares repurchased and subsequently retired (in millions):Year Ended December 31, 2023Year Ended December 31, 2024SharesAmountSharesAmountClass A share repurchases78$9,316 73$11,855 Class C share repurchases45052,868 30650,192 Total share repurchases(1)528$62,184 379$62,047 (1)         Shares repurchased include unsettled repurchases.Repurchases are executed from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans. The repurchase program does not have an expiration date.DividendsDuring the year ended December 31, 2024, total cash dividends, which were first paid in June 2024, were $3.5 billion, $519 million, and $3.3 billion for Class A, Class B, and Class C shares, respectively.The company intends to pay quarterly cash dividends in the future, subject to review and approval by the company’s Board of Directors in its sole discretion.

Note 12.        Net Income Per Share 

We compute net income per share of Class A, Class B, and Class C stock using the two-class method. Basic net income