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  "documentTitle": "Shopify | Investor Presentation Deck | 53 slides",
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  "presentationDate": "2025-02-01 00:00:00",
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      "text": "Capital expenditures is equivalent to the amount included in \"capital purchases/Acquisitions of property and equipment\" on our Consolidated Statement of Cash Flows for the reported period.",
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      "text": "In US $ millions, except percentages; Year end, except as otherwise noted\nNet cash provided by (used in) operating activities\nless: Capital expenditures*\nFree cash flow\nRevenue\nFree cash flow margin\n2020 425 (42) 383 2,929 13%\n2021 536 (51) 485 4,612 11%\n2022 (136) (50) (186) 5,600 (3)%\n2023 944 (39) 905 7,060 13%\n2024 1,616 (19) 1,597 8,880 18%\nQ4'23 448 (2) 446 2,144 21%\nQ4'24 615 (4) 611 2,812 22%",
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