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The documentS–1Anthropic, PBC26 OCT 2026 · 421 PP.

01The original SEC filingThe authoritative source, in your browser.SEC · HTML 02Download the saved filingThe complete 421-page document, optimized for downloading.PDF · 46 MB 03Download the full researchFindings, customer examples, calculations, and source references.Markdown

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PDF page 383

Printed filing page F-37 · Extracted page text

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Table of Contents

Anthropic, PBC
Notes to Consolidated Financial Statements
(Continued)

Accounts Payable, Accrued Expenses, and Other Current Liabilities

Accounts payable, accrued expenses, and other current liabilities consisted of the following (in millions):

Cloud service provider payables

Accrued legal expenses

Donation matching program liability

Other

Total

As of December 31,

2024

2025

As of June 30,
2026

(unaudited)

302 $

947 $

2

—

29

775

541

248

333 $

2,511 $

2,810

1,309

—

1,303

5,422

$

$

Of the total accounts payable, accrued expenses, and other current liabilities presented above, accounts payable 
consisted  of $313  million,  $284  million,  and $766  million  as  of December  31,  2024  and 2025  and June  30, 
2026 (unaudited), respectively.

Other Income (Expense), Net

Other income (expense), net consisted of the following (in millions):

Year Ended December 31,
2024

2025

2023

Six Months Ended June 30,

2025

2026

(unaudited)

Recognition and change in 
fair value of note purchase 
agreements(1)
Change in fair value of 
holdback liability
Change in fair value of 
warrant rights

Other

Total

$

$

______________
(1) Refer to Note 4 for further information.

— $

— $

— $

— $

(9,405)

—

—
(2)
(2) $

—

—

—

— $

(3)

—
(5)
(8) $

—

—

—

(39)

724
(37)

— $

(8,757)

F-37

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001—421

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Pages 201–250

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Pages 301–350

Pages 351–400

Pages 401–421

How this was made

Read in full.
Kept in context.

A snapshot of the filing dated October 26, 2026, rather than a live record of later events.

3primary reviewers

421pages reviewed

43image instances checked

The review

Three primary reviewers read non-overlapping ranges of the complete main filing. All 43 embedded image instances were transcribed and visually reviewed, including the founders’ letter, charts, and customer case studies. Financial tables were also checked visually for dates, units, and column alignment.

A separate reviewer checked the draft’s calculations, accounting interpretations, and customer qualifications. An additional check covered the later merged findings. The result is 62 findings and 21 customer examples.

The boundary

Companion contracts and other exhibits named in the filing’s index are separate documents and were not independently reviewed. Customer outcomes, technical benchmarks, forecasts, and scientific priority claims remain attributed company or customer disclosures.

The numbers

Dollar figures are U.S. dollars. H1 means the six months ended June 30; Q2 means the three months ended June 30. The 2026 interim financial statements are unaudited. Our calculations show their inputs and are labeled separately from reported values.

Blank fields stay undisclosed. Figures with different periods, conditions, or potentially overlapping scopes are kept separate. An earlier tender price is not an IPO price.

What the evidence labels mean

Reported in filing: A company disclosure, with the period and accounting basis retained.
Company estimate / company claim: An estimate or assertion attributed to the company, with its uncertainty preserved.
Our calculation: A derived figure using cited inputs. It is not a separately reported company metric.
Customer example: A selected case study, with its measurement limits. It is not representative ROI.
Proposed / conditional: A status qualifier for an arrangement that is not yet effective or depends on stated conditions.

About updates. This edition is tied to the October 26, 2026 filing. Any later revision should identify its new source date and preserve the basis of earlier claims.

The footnotes are only the beginning.Explore the findings Read the story