Company: GOOGL
Filing Date: 2025-02-05
Form Type: 10-K
Source: 0001652044-25-000014
Chunk: 132

Company: Alphabet Inc.
Filing Date: 2025-02-05
Form: 10-K
Item: Item 7
Chunk 132
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,184 10 %(3)%13 %Other Americas18,320 20,418 (1,608)22,026 11 %(9)%20 %Revenues, excluding hedging effect307,158 349,807 (2,936)352,743 14 %(1)%15 %Hedging gains (losses)236 211 Total revenues(1)$307,394 $350,018 $352,743 14 %0 %(1)%15 %

(1)Total constant currency revenues of $352.7 billion for 2024 increased $45.6 billion compared to $307.2 billion in revenues, excluding hedging effect, for 2023.

EMEA revenue growth was not materially affected by changes in foreign currency exchange rates, as the effect of the U.S. dollar strengthening relative to the Turkish lira was offset by the U.S. dollar weakening relative to the British pound and the euro.

APAC revenue growth was unfavorably affected by changes in foreign currency exchange rates, primarily due to the U.S. dollar strengthening relative to the Japanese yen.

Other Americas revenue growth was unfavorably affected by changes in foreign currency exchange rates, primarily due to the U.S. dollar strengthening relative to the Argentine peso and the Brazilian real.

Costs and Expenses

Cost of Revenues

The following table presents cost of revenues, including TAC (in millions, except percentages):

 Year Ended December 31, 20232024TAC$50,886 $54,900 Other cost of revenues82,446 91,406 Total cost of revenues$133,332 $146,306 Total cost of revenues as a percentage of revenues43 %42 %

Cost of revenues increased $13.0 billion from 2023 to 2024 due to an increase in other cost of revenues and TAC of $9.0 billion and $4.0 billion, respectively.

The increase in TAC from 2023 to 2024 was largely due to an increase in TAC paid to distribution partners, primarily driven by growth in revenues subject to TAC. The TAC rate decreased from 21.4% to 20.7% from 2023 to 2024 primarily due to a revenue mix shift from Google Network properties to Google Search & other properties. The TAC rate on Google Search & other revenues increased from 2023 to 2024 primarily due to increases related to