Alphabet reports on impact of change in useful lives of equipment

Alphabet said: “In January 2023, we completed an assessment of the useful lives of our servers and network equipment and adjusted the estimated useful life of our servers from four years to six years and the estimated useful life of certain network equipment from five years to six years. This change in accounting estimate was effective beginning in fiscal year 2023, and the effect was a reduction in depreciation expense of $966M and $2.0B and an increase in net income of $752M and $1.5B, or 6c and 12c per basic and 6c and 12c per diluted share for the three and six months ended June 30, 2023, respectively.”