From the filing
PDF page 407
Printed filing page F-61 · Extracted page text
Read the page text
Table of Contents Anthropic, PBC Notes to Consolidated Financial Statements (Continued) infringement claim by any third party with respect to its technology. These indemnification obligations are not subject to a cap in certain instances. The term of these indemnification agreements is generally perpetual after the execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future but have not yet been made. The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. Employee Benefit Plan The Company has a qualified defined contribution plan under Section 401(k) of the Internal Revenue Code covering eligible employees. A portion of employee contributions are matched up to a fixed maximum dollar amount per year per eligible employee. During the years ended December 31, 2023, 2024, and 2025, matching contributions related to the plan were $2 million, $7 million, and $15 million, respectively, and during the six months ended June 30, 2025 and 2026 (unaudited), matching contributions were $7 million and $20 million, respectively. 14. Segment and Geographical Information The Company’s chief operating decision maker (“CODM”) is the leadership team consisting of the Company’s Chief Executive Officer and President. The Company operates its business in one operating segment and, therefore, has one reportable segment. The CODM utilizes financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources including, but not limited to, the Company’s consolidated net loss. The CODM uses consolidated net loss as the measure of segment profit or loss. The CODM uses consolidated net loss to evaluate overall financial performance, monitor budget-to-actual results, assess the return on the Company’s investments in compute and infrastructure, personnel, and other operating activities to inform decisions regarding the allocation of capital and personnel resources across the Company’s operations. There are no other expense categories regularly provided to the CODM that are not already included in the primary consolidated financial statements, except that stock-based compensation expense is separately provided to the CODM as a discrete component within the Personnel line item. Stock-based compensation expense was $29 million, $192 million, and $1.2 billion for the years ended December 31, 2023, 2024, and 2025, and $286 million and $2.2 billion for the six months ended June 30, 2025 and 2026 (unaudited), respectively. The CODM does not evaluate operating segments using asset information. Long-lived assets, which consist of property and equipment, net, and operating lease right-of-use assets, by geographic location are based on the physical location of the assets. As of December 31, 2024, December 31, 2025, and June 30, 2026 (unaudited), approximately 94%, 95%, and 95%, respectively, of the Company’s long- lived assets were located in the United States. 15. Business Combinations 2026 Acquisition Activity (Unaudited) On May 18, 2026, the Company acquired Stainless Software, Inc., to advance developer experience and agent connectivity. This acquisition was primarily funded by shares of the Company’s Class A common stock with fair value of $295 million. The total purchase price of $306 million consisted of $12 million cash and cash equivalents, $65 million of intangible assets, $24 million of other net liabilities, and $253 million of goodwill. Goodwill primarily relates to expected synergies and assembled workforce and is not expected to be deductible for U.S. federal income tax purposes. During the first half of 2026, the Company completed other acquisition activity for aggregate consideration of $260 million. 2025 Acquisition Activity On December 2, 2025, the Company acquired 100% of the issued and outstanding equity interests of Bun. The acquisition primarily provides additional workforce to support the Company’s developer ecosystem initiatives F-61
Text is provided for reference. Check the original for tables, images, and exact formatting.