Cloud Providers Depreciation & Amortization (Amazon, Alphabet, Microsoft, Oracle) · Trailing 12 Months

## What this measures

The combined depreciation and amortization of Amazon, Alphabet, Microsoft and Oracle over the latest four quarters, in billions of U.S. dollars, as each reports it on its cash-flow statement (depreciation.amzn.ttm, depreciation.googl.ttm, depreciation.msft.ttm, depreciation.orcl.ttm). Same companies as capex.cloud_providers.ttm.

## Why it matters

Depreciation is how capital spending turns into an expense, a few years at a time. For the AI build-out it is the bill that arrives after the spending: it lags capex, and how fast it catches up decides how much of today's data center spending weighs on profits later.

## How to read it

Higher means more past spending is being charged against earnings. Read it against capex (capex.cloud_providers.ttm), or as a share of capex (ai_infra.depreciation_to_capex.ttm).

## What it does not say

Each company reports a different line: Amazon's includes amortization of video content and operating lease assets, Microsoft's includes "other" items and was restated in fiscal 2026 filings, Oracle's adds amortization of acquired intangibles, Alphabet's changed name and scope in 2023. Alphabet and Microsoft lengthened server lives in 2021 and 2022–2023, which lowered depreciation for a time. See each company's series for detail.

## How it's built

Amazon, Alphabet and Microsoft report calendar quarters (Microsoft's fiscal year ends June 30, but its quarters end in March, June, September and December). Oracle's quarters end in February, May, August and November, and each counts in the calendar quarter it ends in: Oracle's quarter to May 31 is summed with the others' quarter to June 30. A quarter is published only when all four have reported, so the latest point waits for the last of the four. The values are the sum of each company's trailing-twelve-month depreciation.

## Source

U.S. Securities and Exchange Commission, EDGAR: the companies' 10-Q and 10-K filings (XBRL). SEC filings are public information and may be copied or redistributed (sec.gov). Refreshed weekly.