Company: GOOGL
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001652044-25-000062
Chunk: 111

Company: Alphabet Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 Note 7 for further details.

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The gross notional amounts of outstanding derivative instruments were as follows (in millions):As of December 31, 2024As ofJune 30, 2025Derivatives designated as hedging instruments:Foreign exchange contractsCash flow hedges  $20,315 $22,884 Fair value hedges$1,562 $0 Net investment hedges$6,986 $7,668 Derivatives not designated as hedging instruments:Foreign exchange contracts$44,227 $38,023 Other contracts$15,082 $17,406 The fair values of outstanding derivative instruments were as follows (in millions): As of December 31, 2024As of June 30, 2025  Assets(1)Liabilities(2)Assets(1)Liabilities(2)Derivatives designated as hedging instruments:Foreign exchange contracts$1,054 $0 $36 $1,541 Derivatives not designated as hedging instruments:Foreign exchange contracts200593815188Other contracts4741925229Total derivatives not designated as hedging instruments674 612 1,067 217 Total$1,728 $612 $1,103 $1,758 (1)    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 and non-derivative financial instruments in cash flow hedging and net investment hedging relationships recognized in other comprehensive income (OCI) are summarized below (in millions):Three Months EndedSix Months Ended June 30,June 30,2024202520242025Cash flow hedging relationship:Foreign exchange contractsAmount included in the assessment of effectiveness$277 $(1,050)$432 $(1,389)Amount excluded from the assessment of effectiveness(7)(108)51 (169)Net investment hedging relationship:Amount included in the assessment of effectivenessForeign exchange contracts120 (643)202 (849)Foreign currency-denominated debt0 (219)0 (219)Total$390 $(2,020)$685 $(2,626)

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 The table below presents the gains (losses) of derivatives included in the Consolidated Statements of Income