AMAZON COM INC, 10-Q filed on 11/1/2024
Quarterly Report
v3.24.3
Cover - shares
 9 Months Ended
Sep. 30, 2024
Oct. 18, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2024  
Document Transition Report false  
Entity File Number 000-22513  
Entity Registrant Name AMAZON.COM, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 91-1646860  
Entity Address, Address Line One 410 Terry Avenue North  
Entity Address, City or Town Seattle,  
Entity Address, State or Province WA  
Entity Address, Postal Zip Code 98109-5210  
City Area Code 206  
Local Phone Number 266-1000  
Title of 12(b) Security Common Stock, par value $.01 per share  
Trading Symbol AMZN  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   10,515,011,008
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q3  
Entity Central Index Key 0001018724  
Current Fiscal Year End Date --12-31  
v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Cash Flows [Abstract]            
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD $ 71,673 $ 50,067 $ 73,890 $ 54,253 $ 50,081 $ 35,178
OPERATING ACTIVITIES:            
Net income 15,328 9,879 39,244 19,801 49,868 20,079
Adjustments to reconcile net income to net cash from operating activities:            
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 13,442 12,131 37,164 34,843 50,984 47,528
Stock-based compensation 5,333 5,829 17,016 17,704 23,335 23,310
Non-operating expense (income), net (141) (990) 2,498 (409) 2,159 3,036
Deferred income taxes (1,317) (1,196) (3,040) (4,412) (4,504) (7,779)
Changes in operating assets and liabilities:            
Inventories (1,509) 808 (2,818) (1,194) (175) 1,986
Accounts receivable, net and other (701) (3,584) 774 (901) (6,673) (5,641)
Other assets (4,537) (3,134) (10,293) (9,463) (13,095) (13,511)
Accounts payable (477) 2,820 (5,754) (5,415) 5,134 4,437
Accrued expenses and other 129 (1,321) (6,946) (9,022) (352) (3,245)
Unearned revenue 421 (25) 2,396 949 6,025 1,454
Net cash provided by (used in) operating activities 25,971 21,217 70,241 42,481 112,706 71,654
INVESTING ACTIVITIES:            
Purchases of property and equipment (22,620) (12,479) (55,165) (38,141) (69,753) (54,733)
Proceeds from property and equipment sales and incentives 1,342 1,181 3,559 3,361 4,794 4,513
Acquisitions, net of cash acquired, non-marketable investments, and other (622) (1,629) (4,547) (5,458) (4,928) (6,289)
Sales and maturities of marketable securities 8,069 1,393 12,726 4,059 14,294 9,742
Purchases of marketable securities (3,068) (219) (13,472) (1,053) (13,907) (1,286)
Net cash provided by (used in) investing activities (16,899) (11,753) (56,899) (37,232) (69,500) (48,053)
FINANCING ACTIVITIES:            
Proceeds from short-term debt, and other 1,725 216 2,588 17,395 3,322 28,002
Repayments of short-term debt, and other (1,820) (8,095) (2,453) (19,339) (8,791) (35,136)
Proceeds from long-term debt 0 0 0 0 0 8,235
Repayments of long-term debt (2,183) 0 (6,682) (3,386) (6,972) (4,643)
Principal repayments of finance leases (402) (1,005) (1,710) (3,605) (2,489) (5,245)
Principal repayments of financing obligations (78) (64) (247) (198) (320) (260)
Net cash provided by (used in) financing activities (2,758) (8,948) (8,504) (9,133) (15,250) (9,047)
Foreign currency effect on cash, cash equivalents, and restricted cash 690 (502) (51) (288) 640 349
Net increase (decrease) in cash, cash equivalents, and restricted cash 7,004 14 4,787 (4,172) 28,596 14,903
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD $ 78,677 $ 50,081 $ 78,677 $ 50,081 $ 78,677 $ 50,081
v3.24.3
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Total net sales $ 158,877 $ 143,083 $ 450,167 $ 404,824
Operating expenses:        
Cost of sales 80,977 75,022 227,395 212,186
Fulfillment 24,660 22,314 70,543 64,524
Technology and infrastructure 22,245 21,203 64,973 63,584
Sales and marketing 10,609 10,551 30,783 31,468
General and administrative 2,713 2,561 8,496 8,806
Other operating expense (income), net 262 244 587 613
Total operating expenses 141,466 131,895 402,777 381,181
Operating income 17,411 11,188 47,390 23,643
Interest income 1,256 776 3,429 2,048
Interest expense (603) (806) (1,836) (2,469)
Other income (expense), net (27) 1,031 (2,718) 649
Total non-operating income (expense) 626 1,001 (1,125) 228
Income before income taxes 18,037 12,189 46,265 23,871
Provision for income taxes (2,706) (2,306) (6,940) (4,058)
Equity-method investment activity, net of tax (3) (4) (81) (12)
Net income $ 15,328 $ 9,879 $ 39,244 $ 19,801
Basic earnings per share (in usd per share) $ 1.46 $ 0.96 $ 3.76 $ 1.93
Diluted earnings per share (in usd per share) $ 1.43 $ 0.94 $ 3.67 $ 1.89
Weighted-average shares used in computation of earnings per share:        
Basic (in shares) 10,501 10,322 10,447 10,286
Diluted (in shares) 10,735 10,558 10,705 10,452
Product        
Total net sales $ 67,601 $ 63,171 $ 190,085 $ 179,184
Service        
Total net sales $ 91,276 $ 79,912 $ 260,082 $ 225,640
v3.24.3
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 15,328 $ 9,879 $ 39,244 $ 19,801
Other comprehensive income (loss):        
Foreign currency translation adjustments, net of tax of $36, $(45), $4, and $43 1,911 (1,388) 178 (738)
Available-for-sale debt securities:        
Change in net unrealized gains (losses), net of tax of $(18), $(55), $(52), and $(282) 167 62 944 174
Less: reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $0, $0, $(15), and $(1) 0 3 4 48
Net change 167 65 948 222
Other, net of tax of $0, $3, $0, and $1 (3) 0 (4) 0
Total other comprehensive income (loss) 2,075 (1,323) 1,122 (516)
Comprehensive income $ 17,403 $ 8,556 $ 40,366 $ 19,285
v3.24.3
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Foreign currency translation adjustments, tax $ (45) $ 36 $ 43 $ 4
Unrealized gains (losses), tax (55) (18) (282) (52)
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” 0 0 (1) (15)
Other comprehensive income, other, tax $ 3 $ 0 $ 1 $ 0
v3.24.3
Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 75,091 $ 73,387
Marketable securities 12,960 13,393
Inventories 36,103 33,318
Accounts receivable, net and other 51,638 52,253
Total current assets 175,792 172,351
Property and equipment, net 237,917 204,177
Operating leases 76,527 72,513
Goodwill 23,081 22,789
Other assets 71,309 56,024
Total assets 584,626 527,854
Current liabilities:    
Accounts payable 84,570 84,981
Accrued expenses and other 60,602 64,709
Unearned revenue 16,305 15,227
Total current liabilities 161,477 164,917
Long-term lease liabilities 79,802 77,297
Long-term debt 54,890 58,314
Other long-term liabilities 29,306 25,451
Commitments and contingencies (Note 4)
Stockholders’ equity:    
Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding) 0 0
Common stock ($0.01 par value; 100,000 shares authorized; 10,898 and 11,026 shares issued; 10,383 and 10,511 shares outstanding) 110 109
Treasury stock, at cost (7,837) (7,837)
Additional paid-in capital 115,934 99,025
Accumulated other comprehensive income (loss) (1,918) (3,040)
Retained earnings 152,862 113,618
Total stockholders’ equity 259,151 201,875
Total liabilities and stockholders’ equity $ 584,626 $ 527,854
v3.24.3
Consolidated Balance Sheets (Parenthetical) - $ / shares
Sep. 30, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Preferred stock, par value (in usd per share) $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 500,000,000 500,000,000
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 100,000,000,000 100,000,000,000
Common stock, issued (in shares) 11,026,000,000 10,898,000,000
Common stock, outstanding (in shares) 10,511,000,000 10,383,000,000
v3.24.3
Accounting Policies and Supplemental Disclosures
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Accounting Policies and Supplemental Disclosures ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES
Unaudited Interim Financial Information
We have prepared the accompanying consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our consolidated cash flows, operating results, and balance sheets for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for 2024 due to seasonal and other factors. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our 2023 Annual Report on Form 10-K.
Prior Period Reclassifications
Certain prior period amounts have been reclassified to conform to the current period presentation. “Other assets” were reclassified out of “Accounts receivable, net and other” on our consolidated statements of cash flows.
Principles of Consolidation
The consolidated financial statements include the accounts of Amazon.com, Inc. and its consolidated entities (collectively, the “Company”), consisting of its wholly-owned subsidiaries and those entities in which we have a variable interest and of which we are the primary beneficiary, including certain entities in India and certain entities that support our health care services. Intercompany balances and transactions between consolidated entities are eliminated.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, income taxes, useful lives of equipment, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, inventory valuation, collectability of receivables, impairment of property and equipment and operating leases, valuation and impairment of investments, self-insurance liabilities, and viewing patterns of capitalized video content. Actual results could differ materially from these estimates.
We review the useful lives of equipment on an ongoing basis, and effective January 1, 2024 we changed our estimate of the useful lives for our servers from five to six years. The longer useful lives are due to continuous improvements in our hardware, software, and data center designs. The effect of this change in estimate for Q3 2024, based on servers that were included in “Property and equipment, net” as of June 30, 2024 and those acquired during the three months ended September 30, 2024, was a reduction in depreciation and amortization expense of $760 million and a benefit to net income of $598 million, or $0.06 per basic share and $0.06 per diluted share. The effect of this change in estimate for the nine months ended September 30, 2024, based on servers that were included in “Property and equipment, net” as of December 31, 2023 and those acquired during the nine months ended September 30, 2024, was a reduction in depreciation and amortization expense of $2.4 billion and a benefit to net income of $1.9 billion, or $0.18 per basic share and $0.18 per diluted share.
Supplemental Cash Flow Information
The following table shows supplemental cash flow information (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,		Twelve Months Ended
September 30,
202320242023202420232024
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$465 $266 $1,821 $1,215 $2,450 $2,002 
Cash paid for operating leases2,692 2,940 7,687 9,116 10,052 11,882 
Cash paid for interest on finance leases76 71 234 217 318 291 
Cash paid for interest on financing obligations50 47 150 161 205 207 
Cash paid for income taxes, net of refunds2,628 2,004 6,982 8,162 8,677 12,359 
Assets acquired under operating leases3,345 3,571 11,075 11,235 15,844 14,212 
Property and equipment acquired under finance leases, net of remeasurements and modifications183 186 431 409 748 620 
Property and equipment recognized during the construction period of build-to-suit lease arrangements93 21 308 89 618 138 
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating
492 — 1,212 — 3,063 162 
Earnings Per Share
Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we have a net loss, stock awards are excluded from our calculation of earnings per share as their inclusion would have an antidilutive effect.
The following table shows the calculation of diluted shares (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Shares used in computation of basic earnings per share10,322 10,501 10,286 10,447 
Total dilutive effect of outstanding stock awards236 234 166 258 
Shares used in computation of diluted earnings per share10,558 10,735 10,452 10,705 
Other Income (Expense), Net
“Other income (expense), net” is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Marketable equity securities valuation gains (losses)$1,196 $(117)$1,015 $(1,800)
Equity warrant valuation gains (losses)(27)80 (188)(421)
Upward adjustments relating to equity investments in private companies7 2 33 13 
Foreign currency gains (losses)(94)17 (15)(195)
Other, net(51)(9)(196)(315)
Total other income (expense), net1,031 (27)649 (2,718)
Included in “Other income (expense), net” is a marketable equity securities valuation gain (loss) of $1.2 billion and $(348) million in Q3 2023 and Q3 2024, and $926 million and $(1.9) billion for the nine months ended September 30, 2023 and 2024, from our equity investment in Rivian Automotive, Inc. (“Rivian”). As of September 30, 2024, we held 158 million shares of Rivian’s Class A common stock, representing an approximate 16% ownership interest, and an approximate 15% voting interest. We determined that we have the ability to exercise significant influence over Rivian through our equity investment, our commercial arrangement for the purchase of electric vehicles and jointly-owned intellectual property, and one of our employees serving on Rivian’s board of directors. We elected the fair value option to account for our equity investment in Rivian, which is
included in “Marketable securities” on our consolidated balance sheets, and had a fair value of $3.7 billion and $1.8 billion as of December 31, 2023 and September 30, 2024.
Required summarized financial information of Rivian as disclosed in its most recent SEC filings is as follows (in millions):
Six Months Ended June 30,
20232024
Revenues$1,782 $2,362 
Gross profit (loss)(947)(978)
Loss from operations(2,718)(2,859)
Net loss(2,544)(2,903)
Inventories
Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out method, and are valued at the lower of cost and net realizable value. This valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category. The inventory valuation allowance, representing a write-down of inventory, was $3.0 billion and $2.7 billion as of December 31, 2023 and September 30, 2024.
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are receivables primarily related to customers, vendors, and sellers, as well as prepaid expenses and other current assets. As of December 31, 2023 and September 30, 2024, customer receivables, net, were $34.1 billion and $34.6 billion, vendor receivables, net, were $8.5 billion and $8.3 billion, seller receivables, net, were $1.0 billion and $60 million, and other receivables, net, were $3.3 billion and $3.0 billion. Seller receivables are amounts due from sellers related to our seller lending program, which provided funding to sellers primarily to procure inventory. Prepaid expenses and other current assets were $5.4 billion and $5.8 billion as of December 31, 2023 and September 30, 2024.
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. The allowance for doubtful accounts was $1.7 billion and $1.9 billion as of December 31, 2023 and September 30, 2024.
Digital Video and Music Content
Included in “Other assets” on our consolidated balance sheets are the total capitalized costs of video, which is primarily released content, and music, which as of December 31, 2023 and September 30, 2024 were $17.4 billion and $19.8 billion. Total video and music expense was $4.6 billion and $5.0 billion in Q3 2023 and Q3 2024, and $13.0 billion and $14.2 billion for the nine months ended September 30, 2023 and 2024
Unearned Revenue
Unearned revenue is recorded when payments are received or due in advance of performing our service obligations and is recognized over the service period. Unearned revenue primarily relates to prepayments of AWS services and Amazon Prime memberships. Our total unearned revenue as of December 31, 2023 was $20.9 billion, of which $12.5 billion was recognized as revenue during the nine months ended September 30, 2024. Included in “Other long-term liabilities” on our consolidated balance sheets was $5.7 billion and $7.0 billion of unearned revenue as of December 31, 2023 and September 30, 2024.
Additionally, we have performance obligations, primarily related to AWS, associated with commitments in customer contracts for future services that have not yet been recognized in our consolidated financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were approximately $164 billion as of September 30, 2024. The weighted-average remaining life of our long-term contracts is 3.9 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
Accounting Pronouncements Not Yet Adopted
In December 2023, the Financial Accounting Standards Board issued an Accounting Standards Update (“ASU”) amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The ASU is effective for annual reporting periods beginning after December 15, 2024, with
early adoption permitted, and can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our income tax disclosures.
v3.24.3
Financial Instruments
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
Cash, Cash Equivalents, Restricted Cash, and Marketable Securities
As of December 31, 2023 and September 30, 2024, our cash, cash equivalents, restricted cash, and marketable securities primarily consisted of cash, AAA-rated money market funds, U.S. and foreign government and agency securities, other investment grade securities, and marketable equity securities. Cash equivalents and marketable securities are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value:
Level 1—Valuations based on quoted prices for identical assets and liabilities in active markets.
Level 2—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
Level 3—Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.
We measure the fair value of money market funds and certain marketable equity securities based on quoted prices in active markets for identical assets or liabilities. Other marketable securities were valued either based on recent trades of securities in inactive markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data.
The following table summarizes, by major security type, our cash, cash equivalents, restricted cash, and marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in millions):
 December 31, 2023September 30, 2024
  
Total
Estimated
Fair Value		Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$11,706 $15,401 $— $— $15,401 
Level 1 securities:
Money market funds39,160 28,793 — — 28,793 
Equity securities (1)4,658 2,864 
Level 2 securities:
Foreign government and agency securities505 302 — — 302 
U.S. government and agency securities1,699 2,309 1 (51)2,259 
Corporate debt securities27,805 41,001 7 (52)40,956 
Asset-backed securities1,646 1,018 1 (20)999 
Other debt securities104 64 — (1)63 
$87,283 $88,888 $9 $(124)$91,637 
Less: Restricted cash, cash equivalents, and marketable securities (2)(503)(3,586)
Total cash, cash equivalents, and marketable securities$86,780 $88,051 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $1.2 billion and $(145) million in Q3 2023 and Q3 2024, and $1.0 billion and $(1.8) billion for the nine months ended September 30, 2023 and 2024.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable debt securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, standby and trade letters of credit, and licenses of digital media content. We classify cash, cash equivalents, and marketable debt securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 4 — Commitments and Contingencies.”
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of September 30, 2024 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$69,997 $69,976 
Due after one year through five years2,536 2,481 
Due after five years through ten years352 345 
Due after ten years602 570 
Total$73,487 $73,372 
Actual maturities may differ from the contractual maturities because borrowers may have certain prepayment conditions.
Non-Marketable Investments
We hold equity warrants giving us the right to acquire stock of other companies. As of December 31, 2023 and September 30, 2024, these warrants had a fair value of $2.2 billion and $2.4 billion, with gains and losses recognized in “Other income (expense), net” on our consolidated statements of operations. These warrants are classified as Level 2 and 3 assets.
As of December 31, 2023 and September 30, 2024, equity investments not accounted for under the equity-method and without readily determinable fair values had a carrying value of $754 million and $886 million, with adjustments recognized in “Other income (expense), net” on our consolidated statements of operations.
In Q3 2023, we invested in a $1.25 billion note from Anthropic, PBC, which is convertible to equity. In Q1 2024, we invested $2.75 billion in a second convertible note. The notes are classified as available for sale and reported at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss).” The notes are classified as Level 3 assets. We also have a commercial arrangement primarily for the provision of AWS cloud services, which includes the use of AWS chips.
All non-marketable investments are recorded within “Other assets” on our consolidated balance sheets.
Consolidated Statements of Cash Flows Reconciliation
The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows (in millions):
December 31, 2023September 30, 2024
Cash and cash equivalents$73,387 $75,091 
Restricted cash included in accounts receivable, net and other497 333 
Restricted cash included in other assets6 3,253 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$73,890 $78,677 
v3.24.3
Leases
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Leases LEASES
We have entered into non-cancellable operating and finance leases for fulfillment network, data center, office, and physical store facilities as well as server and networking equipment, aircraft, and vehicles. Gross assets acquired under finance leases, including those where title transfers at the end of the lease, are recorded in “Property and equipment, net” and were $62.5 billion and $59.2 billion as of December 31, 2023 and September 30, 2024. Accumulated amortization associated with finance leases was $44.7 billion and $43.7 billion as of December 31, 2023 and September 30, 2024.
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2023202420232024
Operating lease cost$2,679 $3,057 $7,799 $8,807 
Finance lease cost:
Amortization of lease assets1,439 1,040 4,524 2,929 
Interest on lease liabilities74 70 230 215 
Finance lease cost1,513 1,110 4,754 3,144 
Variable lease cost567 605 1,579 1,832 
Total lease cost$4,759 $4,772 $14,132 $13,783 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2023September 30, 2024
Weighted-average remaining lease term – operating leases11.3 years10.7 years
Weighted-average remaining lease term – finance leases11.9 years12.0 years
Weighted-average discount rate – operating leases3.3 %3.4 %
Weighted-average discount rate – finance leases2.7 %2.9 %
Our lease liabilities were as follows (in millions):
December 31, 2023
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$90,777 $14,106 $104,883 
Less: imputed interest(15,138)(1,997)(17,135)
Present value of lease liabilities75,639 12,109 87,748 
Less: current portion of lease liabilities(8,419)(2,032)(10,451)
Total long-term lease liabilities$67,220 $10,077 $77,297 
September 30, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,609 $12,794 $108,403 
Less: imputed interest(15,932)(1,975)(17,907)
Present value of lease liabilities79,677 10,819 90,496 
Less: current portion of lease liabilities(9,301)(1,393)(10,694)
Total long-term lease liabilities$70,376 $9,426 $79,802 
Leases LEASES
We have entered into non-cancellable operating and finance leases for fulfillment network, data center, office, and physical store facilities as well as server and networking equipment, aircraft, and vehicles. Gross assets acquired under finance leases, including those where title transfers at the end of the lease, are recorded in “Property and equipment, net” and were $62.5 billion and $59.2 billion as of December 31, 2023 and September 30, 2024. Accumulated amortization associated with finance leases was $44.7 billion and $43.7 billion as of December 31, 2023 and September 30, 2024.
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2023202420232024
Operating lease cost$2,679 $3,057 $7,799 $8,807 
Finance lease cost:
Amortization of lease assets1,439 1,040 4,524 2,929 
Interest on lease liabilities74 70 230 215 
Finance lease cost1,513 1,110 4,754 3,144 
Variable lease cost567 605 1,579 1,832 
Total lease cost$4,759 $4,772 $14,132 $13,783 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2023September 30, 2024
Weighted-average remaining lease term – operating leases11.3 years10.7 years
Weighted-average remaining lease term – finance leases11.9 years12.0 years
Weighted-average discount rate – operating leases3.3 %3.4 %
Weighted-average discount rate – finance leases2.7 %2.9 %
Our lease liabilities were as follows (in millions):
December 31, 2023
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$90,777 $14,106 $104,883 
Less: imputed interest(15,138)(1,997)(17,135)
Present value of lease liabilities75,639 12,109 87,748 
Less: current portion of lease liabilities(8,419)(2,032)(10,451)
Total long-term lease liabilities$67,220 $10,077 $77,297 
September 30, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,609 $12,794 $108,403 
Less: imputed interest(15,932)(1,975)(17,907)
Present value of lease liabilities79,677 10,819 90,496 
Less: current portion of lease liabilities(9,301)(1,393)(10,694)
Total long-term lease liabilities$70,376 $9,426 $79,802 
v3.24.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Commitments
The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of September 30, 2024 (in millions): 
 Three Months Ended December 31,Year Ended December 31,  
 20242025202620272028ThereafterTotal
Long-term debt principal and interest$3,268 $6,858 $4,458 $10,403 $3,644 $60,176 $88,807 
Operating lease liabilities3,758 11,434 10,686 9,755 8,874 51,102 95,609 
Finance lease liabilities, including interest456 1,545 1,428 1,247 1,083 7,035 12,794 
Financing obligations, including interest (1)95 526 534 543 551 7,247 9,496 
Leases not yet commenced621 2,919 3,262 3,779 3,627 36,127 50,335 
Unconditional purchase obligations (2)2,782 7,302 5,546 4,705 4,097 27,092 51,524 
Other commitments (3)1,302 2,398 1,315 855 792 11,116 17,778 
Total commitments$12,282 $32,982 $27,229 $31,287 $22,668 $199,895 $326,343 
___________________
(1)Includes non-cancellable financing obligations for fulfillment network and data center facilities. Excluding interest, current financing obligations of $271 million and $313 million are recorded within “Accrued expenses and other” and $6.6 billion and $7.5 billion are recorded within “Other long-term liabilities” as of December 31, 2023 and September 30, 2024. The weighted-average remaining term of the financing obligations was 17.0 years and 16.4 years and the weighted-average imputed interest rate was 3.1% and 2.9% as of December 31, 2023 and September 30, 2024.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content, procure energy, and license software that are not reflected on the consolidated balance sheets. For those agreements with variable terms, we do not estimate the total obligation beyond any minimum quantities and/or pricing as of the reporting date. Purchase obligations associated with renewal provisions solely at the option of the content provider are included to the extent such commitments are fixed or a minimum amount is specified. Renewable energy agreements based on actual generation without a fixed or minimum volume commitment are not included. These agreements also provide the right to receive renewable energy certificates for no additional consideration.
(3)Includes asset retirement obligations, liabilities associated with digital media content agreements with initial terms greater than one year, and the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction. Excludes approximately $6.3 billion of income tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
Other Contingencies
We are disputing claims and denials of refunds or credits, and monitoring or evaluating potential claims, related to various non-income taxes (such as sales, value added, consumption, service, and similar taxes), including in jurisdictions in which we already collect and remit these taxes. These non-income tax controversies typically include (i) the taxability of products and services, including cross-border intercompany transactions, (ii) collection and withholding on transactions with third parties, including as a result of evolving requirements imposed on marketplaces with respect to third-party sellers, and (iii) the adequacy of compliance with reporting obligations, including evolving documentation requirements. Due to the inherent complexity and uncertainty of these matters and the judicial and regulatory processes in certain jurisdictions, the final outcome of any such controversies may be materially different from our expectations.
Legal Proceedings
The Company is involved from time to time in claims, proceedings, and litigation, including the matters described in Item 8 of Part II, “Financial Statements and Supplementary Data — Note 7 — Commitments and Contingencies — Legal Proceedings” of our 2023 Annual Report on Form 10-K and in Item 1 of Part I, “Financial Statements — Note 4 — Commitments and Contingencies — Legal Proceedings” of our Quarterly Reports on Form 10-Q for the periods ended March 31, 2024 and June 30, 2024, as supplemented by the following:
In December 2018, Kove IO, Inc. filed a complaint against Amazon Web Services, Inc. in the United States District Court for the Northern District of Illinois. The complaint alleged, among other things, that Amazon S3 and DynamoDB infringe U.S. Patent Nos. 7,814,170 and 7,103,640, each entitled “Network Distributed Tracking Wire Transfer Protocol”; and 7,233,978, entitled “Method and Apparatus for Managing Location Information in a Network Separate from the Data to Which the Location Information Pertains.” The complaint sought an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, interest, and injunctive relief. In April 2024, a jury found that Amazon infringed the asserted patents and awarded Kove $525 million in damages. In August 2024, the court awarded Kove $148 million in pre-judgment interest. In September 2024, we filed a notice of appeal. We disagree with the jury’s findings and will continue to defend ourselves vigorously in this matter.
Beginning in March 2020 with Frame-Wilson v. Amazon.com, Inc. filed in the United States District Court for the Western District of Washington (“W.D. Wash.”), private litigants have filed a number of cases in the U.S. and Canada alleging, among other things, price fixing arrangements between Amazon.com, Inc. and vendors and third-party sellers in Amazon’s stores, monopolization and attempted monopolization, and consumer protection and unjust enrichment claims. Attorneys General for the District of Columbia and California brought similar suits in May 2021 and September 2022 in the Superior Court of the District of Columbia and the California Superior Court for the County of San Francisco, respectively. Some of the private cases include allegations of several distinct purported classes, including consumers who purchased a product through Amazon’s stores and consumers who purchased a product offered by Amazon through another e-commerce retailer. The complaints seek billions of dollars of alleged damages, treble damages, punitive damages, injunctive relief, civil penalties, attorneys’ fees, and costs. The Federal Trade Commission and a number of state Attorneys General filed a similar lawsuit in September 2023 in the W.D. Wash. alleging violations of federal antitrust and state antitrust and consumer protection laws. That complaint alleges, among other things, that Amazon has a monopoly in markets for online superstores and marketplace services, and unlawfully maintains those monopolies through anticompetitive practices relating to our pricing policies, advertising practices, the structure of Prime, and promotion of our own products on our website. The complaint seeks injunctive and structural relief, an unspecified amount of damages, and costs. In May 2024, the Attorney General of Arizona filed a complaint in the Superior Court of Arizona in Maricopa County alleging that Amazon’s practices related to pricing and the Featured Offers in its stores violate state antitrust and consumer protection laws. That complaint also seeks injunctive relief, an unspecified amount of damages, civil penalties, and costs. Amazon’s motions to dismiss were granted in part and denied in part in Frame-Wilson in March 2022 and March 2023, De Coster v. Amazon.com, Inc. (W.D. Wash.) in January 2023, and the California Attorney General’s lawsuit in March 2023. All three courts dismissed claims alleging that Amazon’s pricing policies are inherently illegal and denied dismissal of claims alleging that Amazon’s pricing policies are an unlawful restraint of trade. In August 2024, the DC Court of Appeals overturned a prior decision by the DC Superior Court dismissing the DC Attorney General’s lawsuit and that case is now proceeding. In September 2024, the United States District Court for the W.D. Wash. granted in part Amazon’s motion to dismiss the suit brought by the FTC and certain state Attorneys General with respect to five state law claims and denied the motion with respect to the remaining claims. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
In October 2020, Broadband iTV, Inc. filed a complaint against Amazon.com, Inc., Amazon.com Services LLC, and Amazon Web Services, Inc. in the United States District Court for the Western District of Texas. The complaint alleges, among other things, that certain Amazon Prime Video features and services infringe U.S. Patent Nos. 9,648,388, 10,546,750, and 10,536,751, each entitled “Video-On-Demand Content Delivery System for Providing Video-On-Demand Services to TV Services Subscribers”; 10,028,026, entitled “System for Addressing On-Demand TV Program Content on TV Services Platform
of a Digital TV Services Provider”; and 9,973,825, entitled “Dynamic Adjustment of Electronic Program Guide Displays Based on Viewer Preferences for Minimizing Navigation in VOD Program Selection.” The complaint seeks an unspecified amount of damages. In April 2022, Broadband iTV alleged in its damages report that in the event of a finding of liability Amazon could be subject to $166 million to $986 million in damages. In September 2022, the district court granted summary judgment, holding that the patents are invalid. In October 2022, Broadband iTV filed a notice of appeal. In September 2024, the United States Court of Appeals for the Federal Circuit affirmed the district court’s judgment. This decision is subject to appeal. We dispute the allegations of wrongdoing and will continue to defend ourselves vigorously in this matter.
In May 2023, Dialect, LLC filed a complaint against Amazon.com, Inc. and Amazon Web Services, Inc. in the United States District Court for the Eastern District for Virginia. The complaint alleges, among other things, that Amazon’s Alexa-enabled products and services, such as Echo devices, Fire tablets, Fire TV sticks, Fire TVs, Alexa, and Alexa Voice Services, infringe U.S. Patent Nos. 7,693,720 and 9,031,845, each entitled “Mobile Systems and Methods for Responding to Natural Language Speech Utterance”; 8,015,006, entitled “Systems and Methods for Processing Natural Language Speech Utterances with Context-Specific Domain Agents”; 8,140,327, entitled “System and Method for Filtering and Eliminating Noise from Natural Language Utterances to Improve Speech Recognition and Parsing”; 8,195,468 and 9,495,957, each entitled “Mobile Systems and Methods of Supporting Natural Language Human-Machine Interactions”; and 9,263,039, entitled “Systems and Methods for Responding to Natural Language Speech Utterance.” The complaint seeks an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, interest, and injunctive relief. In November 2023, the court granted in part Amazon’s motion to dismiss Dialect’s complaint and dismissed the ‘845 patent from the case. In July and August 2024, the court granted in part Amazon’s motions for summary judgment, holding that Amazon does not infringe the ‘327 patent or two claims of the ‘006 patent and that Dialect cannot recover certain alleged damages. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter.
Beginning in October 2023, Nokia Technologies Oy and related entities filed complaints alleging infringement of patents related to video-related technologies against Amazon.com, Inc. and related entities in multiple courts in the United States, India, the United Kingdom, Germany, and Brazil, the Unified Patent Court of the European Union, and the United States International Trade Commission. The complaints allege, among other things, that certain Amazon Prime Video services and features of Amazon devices carrying the Prime Video app infringe Nokia’s patents; some of the complaints additionally allege infringement by Freevee, Twitch, and Amazon voice assistants. The complaints seek, among other things, injunctive relief and, in some cases, unspecified money damages, enhanced damages, attorneys’ fees, costs, interest, and declaratory relief. These matters are at various procedural stages, with preliminary and final injunctions issued in certain instances. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
In addition, we are regularly subject to claims, litigation, and other proceedings, including potential regulatory proceedings, involving patent and other intellectual property matters, taxes, labor and employment, competition and antitrust, privacy and data protection, consumer protection, commercial disputes, goods and services offered by us and by third parties, and other matters.
The outcomes of our legal proceedings and other contingencies are inherently unpredictable, subject to significant uncertainties, and could be material to our operating results and cash flows for a particular period. We evaluate, on a regular basis, developments in our legal proceedings and other contingencies that could affect the amount of liability, including amounts in excess of any previous accruals and reasonably possible losses disclosed, and make adjustments and changes to our accruals and disclosures as appropriate. For the matters we disclose that do not include an estimate of the amount of loss or range of losses, such an estimate is not possible or is immaterial, and we may be unable to estimate the possible loss or range of losses that could potentially result from the application of non-monetary remedies. Until the final resolution of such matters, if any of our estimates and assumptions change or prove to have been incorrect, we may experience losses in excess of the amounts recorded, which could have a material effect on our business, consolidated financial position, results of operations, or cash flows.
See also “Note 7 — Income Taxes.”
v3.24.3
Debt
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Debt DEBT
As of September 30, 2024, we had $60.5 billion of unsecured senior notes outstanding (the “Notes”). Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2023September 30, 2024
2014 Notes issuance of $6.0 billion
2024 - 2044
3.80% - 4.95%
3.90% - 5.12%
4,000 4,000 
2017 Notes issuance of $17.0 billion
2025 - 2057
3.15% - 5.20%
3.02% - 4.33%
15,000 13,000 
2020 Notes issuance of $10.0 billion
2025 - 2060
0.80% - 2.70%
0.88% - 2.77%
9,000 9,000 
2021 Notes issuance of $18.5 billion
2026 - 2061
1.00% - 3.25%
1.14% - 3.31%
17,500 15,000 
April 2022 Notes issuance of $12.8 billion
2025 - 2062
3.00% - 4.10%
3.13% - 4.15%
12,750 11,250 
December 2022 Notes issuance of $8.3 billion
2024 - 2032
4.55% - 4.70%
4.61% - 4.83%
8,250 8,250 
Credit Facility682 — 
Total face value of long-term debt67,182 60,500 
Unamortized discount and issuance costs, net(374)(362)
Less: current portion of long-term debt(8,494)(5,248)
Long-term debt$58,314 $54,890 
___________________
(1) The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, and December 2022 Notes were 10.8, 15.5, 16.8, 14.4, 13.1, and 4.1 years as of September 30, 2024. The combined weighted-average remaining life of the Notes was 13.1 years as of September 30, 2024.
Interest on the Notes is payable semi-annually in arrears. We may redeem the Notes at any time in whole, or from time to time, in part at specified redemption prices. We are not subject to any financial covenants under the Notes. The estimated fair value of the Notes was approximately $60.6 billion and $55.1 billion as of December 31, 2023 and September 30, 2024, which is based on quoted prices for our debt as of those dates.
As of September 30, 2024, we have repaid outstanding borrowings and terminated the secured revolving credit facility with a lender that was secured by certain seller receivables (the “Credit Facility”). The Credit Facility bore interest based on the daily Secured Overnight Financing Rate plus 1.25%, and had a commitment fee of up to 0.45% on the undrawn portion. There were $682 million of borrowings outstanding under the Credit Facility as of December 31, 2023, which had an interest rate of 6.6%. As of December 31, 2023, we had pledged $806 million of our cash and seller receivables as collateral for debt related to our Credit Facility. The estimated fair value of the Credit Facility, which was based on Level 2 inputs, approximated its carrying value as of December 31, 2023.
In January 2023, we entered into an $8.0 billion unsecured 364-day term loan with a syndicate of lenders (the “Term Loan”), maturing in January 2024 and bearing interest at the Secured Overnight Financing Rate specified in the Term Loan plus 0.75%. The Term Loan was classified as short-term debt and included within “Accrued expenses and other” on our consolidated balance sheets. As of December 31, 2023, the entire amount of the Term Loan had been repaid.
We have U.S. Dollar and Euro commercial paper programs (the “Commercial Paper Programs”) under which we may from time to time issue unsecured commercial paper up to a total of $20.0 billion (including up to €3.0 billion) at the date of issue, with individual maturities that may vary but will not exceed 397 days from the date of issue. There were no borrowings outstanding under the Commercial Paper Programs as of December 31, 2023 and September 30, 2024. We use the net proceeds from the issuance of commercial paper for general corporate purposes.
We have a $15.0 billion unsecured revolving credit facility with a syndicate of lenders (the “Credit Agreement”), with a term that extends to November 2028 and may be extended for one or more additional one-year terms subject to approval by the lenders. The interest rate applicable to outstanding balances under the Credit Agreement is the applicable benchmark rate specified in the Credit Agreement plus 0.45%, with a commitment fee of 0.03% on the undrawn portion of the credit facility. There were no borrowings outstanding under the Credit Agreement as of December 31, 2023 and September 30, 2024.
As of September 30, 2024, we had a $5.0 billion unsecured 364-day revolving credit facility with a syndicate of lenders (the “2023 Short-Term Credit Agreement”). The interest rate applicable to outstanding balances under the 2023 Short-Term Credit Agreement is the Secured Overnight Financing Rate specified in the 2023 Short-Term Credit Agreement plus 0.45%, with a commitment fee of 0.03% on the undrawn portion. There were no borrowings outstanding under the 2023 Short-Term Credit Agreement as of December 31, 2023 and September 30, 2024. In October 2024, we replaced the 2023 Short-Term Credit
Agreement with a new $5.0 billion unsecured 364-day revolving credit facility with a syndicate of lenders on substantially the same terms, which matures in October 2025 and may be extended for one additional period of 364 days subject to approval by the lenders.
We also utilize other short-term credit facilities for working capital purposes. There were $147 million and $88 million of borrowings outstanding under these facilities as of December 31, 2023 and September 30, 2024, which were included in “Accrued expenses and other” on our consolidated balance sheets. In addition, we had $8.4 billion of unused letters of credit as of September 30, 2024.
v3.24.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Stock Repurchase Activity
In March 2022, the Board of Directors authorized a program to repurchase up to $10.0 billion of our common stock, with no fixed expiration. There were no repurchases of our common stock during the nine months ended September 30, 2023 or 2024. As of September 30, 2024, we have $6.1 billion remaining under the repurchase program.
Stock Award Plans
Employees vest in restricted stock unit awards over the corresponding service term, generally between two and five years. The majority of restricted stock unit awards are granted at the date of hire or in Q2 as part of the annual compensation review and primarily vest semi-annually in Q2 and Q4 of the relevant compensation year.
Stock Award Activity
Common shares outstanding plus shares underlying outstanding stock awards totaled 10.8 billion and 10.9 billion as of December 31, 2023 and September 30, 2024. These totals include all vested and unvested stock awards outstanding, including those awards we estimate will be forfeited. Stock-based compensation expense is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Cost of sales$193 $193 $609 $633 
Fulfillment732 696 2,267 2,276 
Technology and infrastructure3,284 2,961 9,901 9,403 
Sales and marketing1,111 1,012 3,407 3,168 
General and administrative509 471 1,520 1,536 
Total stock-based compensation expense$5,829 $5,333 $17,704 $17,016 
The following table summarizes our restricted stock unit activity for the nine months ended September 30, 2024 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2023405.8 $125 
Units granted115.4 180 
Units vested(127.8)133 
Units forfeited(31.9)131 
Outstanding as of September 30, 2024361.5 139 
Scheduled vesting for outstanding restricted stock units as of September 30, 2024, is as follows (in millions):
 Three Months Ended December 31,Year Ended December 31,  
 20242025202620272028ThereafterTotal
Scheduled vesting — restricted stock units82.2 147.8 88.8 31.3 8.4 3.0 361.5 
As of September 30, 2024, there was $18.9 billion of net unrecognized compensation cost related to unvested stock-based compensation arrangements. This compensation is recognized on an accelerated basis with more than half of the compensation
expected to be expensed in the next twelve months, and has a remaining weighted-average recognition period of 1.0 year. The estimated forfeiture rate as of December 31, 2023 and September 30, 2024 was 26.1% and 25.7%.
Changes in Stockholders’ Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Total beginning stockholders’ equity$168,602 $236,447 $146,043 $201,875 
Beginning common stock108 110 108 109 
Stock-based compensation and issuance of employee benefit plan stock— — — 1 
Ending common stock108 110 108 110 
Beginning and ending treasury stock(7,837)(7,837)(7,837)(7,837)
Beginning additional paid-in capital86,896 110,633 75,066 99,025 
Stock-based compensation and issuance of employee benefit plan stock5,815 5,301 17,645 16,909 
Ending additional paid-in capital92,711 115,934 92,711 115,934 
Beginning accumulated other comprehensive income (loss)(3,680)(3,993)(4,487)(3,040)
Other comprehensive income (loss)(1,323)2,075 (516)1,122 
Ending accumulated other comprehensive income (loss)(5,003)(1,918)(5,003)(1,918)
Beginning retained earnings93,115 137,534 83,193 113,618 
Net income9,879 15,328 19,801 39,244 
Ending retained earnings102,994 152,862 102,994 152,862 
Total ending stockholders’ equity$182,973 $259,151 $182,973 $259,151 
v3.24.3
Income Taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Our tax provision or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment.
Our quarterly tax provision, and our quarterly estimate of our annual effective tax rate, is subject to significant variation due to several factors, including variability in accurately predicting our pre-tax and taxable income and loss and the mix of jurisdictions to which they relate, intercompany transactions, the applicability of special tax regimes, changes in how we do business, acquisitions, investments, developments in tax controversies, changes in our stock price, changes in our deferred tax assets and liabilities and their valuation, foreign currency gains (losses), changes in statutes, regulations, case law, and administrative practices, principles, and interpretations related to tax, including changes to the global tax framework, competition, and other laws and accounting rules in various jurisdictions, and relative changes of expenses or losses for which tax benefits are not recognized. Our effective tax rate can be more or less volatile based on the amount of pre-tax income or loss. For example, the impact of discrete items and non-deductible expenses on our effective tax rate is greater when our pre-tax income is lower. In addition, we record valuation allowances against deferred tax assets when there is uncertainty about our ability to generate future income in relevant jurisdictions.
For 2024, we estimate that our effective tax rate will be favorably impacted by the U.S. federal research and development credit and foreign income deduction and adversely affected by state income taxes. In addition, valuation gains and losses from our equity investment in Rivian impact our pre-tax income and may cause variability in our effective tax rate.
Our income tax provision for the nine months ended September 30, 2023 was $4.1 billion, which included $175 million of net discrete tax expense, primarily consisting of discrete tax expense related to shortfalls from stock-based compensation and approximately $600 million of tax benefit resulting from a change in the estimated qualifying expenditures associated with our
2022 U.S. federal R&D credit. Our income tax provision for the nine months ended September 30, 2024 was $6.9 billion, which included $2.4 billion of net discrete tax benefits primarily attributable to excess tax benefits from stock-based compensation.
Cash paid for income taxes, net of refunds was $2.6 billion and $2.0 billion in Q3 2023 and Q3 2024, and $7.0 billion and $8.2 billion for the nine months ended September 30, 2023 and 2024.
As of December 31, 2023 and September 30, 2024, income tax contingencies were approximately $5.2 billion and $6.3 billion. Changes in tax laws, regulations, administrative practices, principles, and interpretations may impact our tax contingencies. Due to various factors, including the inherent complexities and uncertainties of the judicial, administrative, and regulatory processes in certain jurisdictions, the timing of the resolution of income tax controversies is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next twelve months we will receive additional assessments by various tax authorities or possibly reach resolution of income tax controversies in one or more jurisdictions. These assessments or settlements could result in changes to our contingencies related to positions on prior years’ tax filings.
We are under examination, or may be subject to examination, by the Internal Revenue Service for the calendar year 2016 and thereafter. These examinations may lead to ordinary course adjustments or proposed adjustments to our taxes or our net operating losses with respect to years under examination as well as subsequent periods.
We are also subject to taxation in various states and other foreign jurisdictions including China, France, Germany, India, Japan, Luxembourg, and the United Kingdom. We are under, or may be subject to, audit or examination and additional assessments by the relevant authorities in respect of these particular jurisdictions primarily for 2011 and thereafter. We are currently disputing tax assessments in multiple jurisdictions, including with respect to the allocation and characterization of income.
In September 2022, the Luxembourg tax authority (“LTA”) denied the tax basis of certain intangible assets that we distributed from Luxembourg to the U.S. in 2021. When we are assessed by the LTA, we will need to remit taxes related to this matter. We believe the LTA’s position is without merit, we intend to defend ourselves vigorously in this matter, and we expect to recoup taxes paid.
The Indian tax authority (“ITA”) has asserted that tax applies to cloud services fees paid to Amazon in the U.S. We will need to remit taxes related to this matter until it is resolved, which payments could be significant in the aggregate. We believe the ITA’s position is without merit, we are defending our position vigorously, and we expect to recoup taxes paid. If this matter is adversely resolved, we could recognize significant additional tax expense, including for taxes previously paid.
v3.24.3
Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
We have organized our operations into three segments: North America, International, and AWS. We allocate to segment results the operating expenses “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” and “General and administrative” based on usage, which is generally reflected in the segment in which the costs are incurred. The majority of technology costs recorded in “Technology and infrastructure” are incurred in the U.S. and are included in our North America and AWS segments. The majority of infrastructure costs recorded in “Technology and infrastructure” are allocated to the AWS segment based on usage. There are no internal revenue transactions between our reportable segments. Our chief operating decision maker (“CODM”) regularly reviews consolidated net sales, consolidated operating expenses, and consolidated operating income (loss) by segment. Amounts included in consolidated operating expenses include “Cost of sales,” “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” “General and administrative,” and “Other operating expense (income), net.” Our CODM manages our business by reviewing annual forecasts and consolidated results by segment on a quarterly basis.
North America
The North America segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through North America-focused online and physical stores. This segment includes export sales from these online stores.
International
The International segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through internationally-focused online stores. This segment includes export sales from these internationally-focused online stores (including export sales from these online stores to customers in the U.S., Mexico, and Canada), but excludes export sales from our North America-focused online stores.
AWS
The AWS segment consists of amounts earned from global sales of compute, storage, database, and other services for start-ups, enterprises, government agencies, and academic institutions.
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
North America
Net sales$87,887 $95,537 $247,314 $271,911 
Operating expenses83,580 89,874 238,898 256,200 
Operating income$4,307 $5,663 $8,416 $15,711 
International
Net sales$32,137 $35,888 $90,957 $99,486 
Operating expenses32,232 34,587 93,194 97,009 
Operating income (loss)$(95)$1,301 $(2,237)$2,477 
AWS
Net sales$23,059 $27,452 $66,553 $78,770 
Operating expenses16,083 17,005 49,089 49,568 
Operating income$6,976 $10,447 $17,464 $29,202 
Consolidated
Net sales$143,083 $158,877 $404,824 $450,167 
Operating expenses131,895 141,466 381,181 402,777 
Operating income11,188 17,411 23,643 47,390 
Total non-operating income (expense)1,001 626 228 (1,125)
Provision for income taxes(2,306)(2,706)(4,058)(6,940)
Equity-method investment activity, net of tax(4)(3)(12)(81)
Net income$9,879 $15,328 $19,801 $39,244 
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):    
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Net Sales:
Online stores (1)$57,267 $61,411 $161,329 $171,473 
Physical stores (2)4,959 5,228 14,878 15,636 
Third-party seller services (3)34,342 37,864 96,494 108,661 
Advertising services (4)12,060 14,331 32,252 38,926 
Subscription services (5)10,170 11,278 29,721 32,866 
AWS23,059 27,452 66,553 78,770 
Other (6)1,226 1,313 3,597 3,835 
Consolidated$143,083 $158,877 $404,824 $450,167 
____________________________
(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings, such as health care services, certain licensing and distribution of video content, and shipping services, and our co-branded credit card agreements.
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure            
Net Income $ 15,328 $ 9,879 $ 39,244 $ 19,801 $ 49,868 $ 20,079
v3.24.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.3
Accounting Policies and Supplemental Disclosures (Policies)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Unaudited Interim Financial Information
Unaudited Interim Financial Information
We have prepared the accompanying consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our consolidated cash flows, operating results, and balance sheets for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for 2024 due to seasonal and other factors. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our 2023 Annual Report on Form 10-K.
Prior Period Reclassifications
Prior Period Reclassifications
Certain prior period amounts have been reclassified to conform to the current period presentation. “Other assets” were reclassified out of “Accounts receivable, net and other” on our consolidated statements of cash flows.
Principles of Consolidation
Principles of Consolidation
The consolidated financial statements include the accounts of Amazon.com, Inc. and its consolidated entities (collectively, the “Company”), consisting of its wholly-owned subsidiaries and those entities in which we have a variable interest and of which we are the primary beneficiary, including certain entities in India and certain entities that support our health care services. Intercompany balances and transactions between consolidated entities are eliminated.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, income taxes, useful lives of equipment, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, inventory valuation, collectability of receivables, impairment of property and equipment and operating leases, valuation and impairment of investments, self-insurance liabilities, and viewing patterns of capitalized video content. Actual results could differ materially from these estimates.
We review the useful lives of equipment on an ongoing basis, and effective January 1, 2024 we changed our estimate of the useful lives for our servers from five to six years. The longer useful lives are due to continuous improvements in our hardware, software, and data center designs.
Earnings Per Share
Earnings Per Share
Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we have a net loss, stock awards are excluded from our calculation of earnings per share as their inclusion would have an antidilutive effect.
Inventories
Inventories
Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out method, and are valued at the lower of cost and net realizable value. This valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category. The inventory valuation allowance, representing a write-down of inventory, was $3.0 billion and $2.7 billion as of December 31, 2023 and September 30, 2024.
Accounts Receivable, Net and Other
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are receivables primarily related to customers, vendors, and sellers, as well as prepaid expenses and other current assets. As of December 31, 2023 and September 30, 2024, customer receivables, net, were $34.1 billion and $34.6 billion, vendor receivables, net, were $8.5 billion and $8.3 billion, seller receivables, net, were $1.0 billion and $60 million, and other receivables, net, were $3.3 billion and $3.0 billion. Seller receivables are amounts due from sellers related to our seller lending program, which provided funding to sellers primarily to procure inventory. Prepaid expenses and other current assets were $5.4 billion and $5.8 billion as of December 31, 2023 and September 30, 2024.
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. The allowance for doubtful accounts was $1.7 billion and $1.9 billion as of December 31, 2023 and September 30, 2024.
Digital Video and Music Content
Digital Video and Music Content
Included in “Other assets” on our consolidated balance sheets are the total capitalized costs of video, which is primarily released content, and music, which as of December 31, 2023 and September 30, 2024 were $17.4 billion and $19.8 billion. Total video and music expense was $4.6 billion and $5.0 billion in Q3 2023 and Q3 2024, and $13.0 billion and $14.2 billion for the nine months ended September 30, 2023 and 2024.
Unearned Revenue
Unearned Revenue
Unearned revenue is recorded when payments are received or due in advance of performing our service obligations and is recognized over the service period. Unearned revenue primarily relates to prepayments of AWS services and Amazon Prime memberships. Our total unearned revenue as of December 31, 2023 was $20.9 billion, of which $12.5 billion was recognized as revenue during the nine months ended September 30, 2024. Included in “Other long-term liabilities” on our consolidated balance sheets was $5.7 billion and $7.0 billion of unearned revenue as of December 31, 2023 and September 30, 2024.
Additionally, we have performance obligations, primarily related to AWS, associated with commitments in customer contracts for future services that have not yet been recognized in our consolidated financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were approximately $164 billion as of September 30, 2024. The weighted-average remaining life of our long-term contracts is 3.9 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
Accounting Pronouncements Not Yet Adopted
Accounting Pronouncements Not Yet Adopted
In December 2023, the Financial Accounting Standards Board issued an Accounting Standards Update (“ASU”) amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The ASU is effective for annual reporting periods beginning after December 15, 2024, with
early adoption permitted, and can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our income tax disclosures.
v3.24.3
Accounting Policies and Supplemental Disclosures (Tables)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Supplemental Cash Flow Information
The following table shows supplemental cash flow information (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,		Twelve Months Ended
September 30,
202320242023202420232024
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$465 $266 $1,821 $1,215 $2,450 $2,002 
Cash paid for operating leases2,692 2,940 7,687 9,116 10,052 11,882 
Cash paid for interest on finance leases76 71 234 217 318 291 
Cash paid for interest on financing obligations50 47 150 161 205 207 
Cash paid for income taxes, net of refunds2,628 2,004 6,982 8,162 8,677 12,359 
Assets acquired under operating leases3,345 3,571 11,075 11,235 15,844 14,212 
Property and equipment acquired under finance leases, net of remeasurements and modifications183 186 431 409 748 620 
Property and equipment recognized during the construction period of build-to-suit lease arrangements93 21 308 89 618 138 
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating
492 — 1,212 — 3,063 162 
Calculation of Diluted Shares
The following table shows the calculation of diluted shares (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Shares used in computation of basic earnings per share10,322 10,501 10,286 10,447 
Total dilutive effect of outstanding stock awards236 234 166 258 
Shares used in computation of diluted earnings per share10,558 10,735 10,452 10,705 
Other Income (Expense), Net Other income (expense), net” is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Marketable equity securities valuation gains (losses)$1,196 $(117)$1,015 $(1,800)
Equity warrant valuation gains (losses)(27)80 (188)(421)
Upward adjustments relating to equity investments in private companies7 2 33 13 
Foreign currency gains (losses)(94)17 (15)(195)
Other, net(51)(9)(196)(315)
Total other income (expense), net1,031 (27)649 (2,718)
Summarized Financial Information of Equity Investment
Required summarized financial information of Rivian as disclosed in its most recent SEC filings is as follows (in millions):
Six Months Ended June 30,
20232024
Revenues$1,782 $2,362 
Gross profit (loss)(947)(978)
Loss from operations(2,718)(2,859)
Net loss(2,544)(2,903)
v3.24.3
Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Fair Value by Major Security Type
The following table summarizes, by major security type, our cash, cash equivalents, restricted cash, and marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in millions):
 December 31, 2023September 30, 2024
  
Total
Estimated
Fair Value		Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$11,706 $15,401 $— $— $15,401 
Level 1 securities:
Money market funds39,160 28,793 — — 28,793 
Equity securities (1)4,658 2,864 
Level 2 securities:
Foreign government and agency securities505 302 — — 302 
U.S. government and agency securities1,699 2,309 1 (51)2,259 
Corporate debt securities27,805 41,001 7 (52)40,956 
Asset-backed securities1,646 1,018 1 (20)999 
Other debt securities104 64 — (1)63 
$87,283 $88,888 $9 $(124)$91,637 
Less: Restricted cash, cash equivalents, and marketable securities (2)(503)(3,586)
Total cash, cash equivalents, and marketable securities$86,780 $88,051 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $1.2 billion and $(145) million in Q3 2023 and Q3 2024, and $1.0 billion and $(1.8) billion for the nine months ended September 30, 2023 and 2024.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable debt securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, standby and trade letters of credit, and licenses of digital media content. We classify cash, cash equivalents, and marketable debt securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 4 — Commitments and Contingencies.”
Investments Classified by Contractual Maturity Date
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of September 30, 2024 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$69,997 $69,976 
Due after one year through five years2,536 2,481 
Due after five years through ten years352 345 
Due after ten years602 570 
Total$73,487 $73,372 
Consolidated Statements of Cash Flow Reconciliation - Cash and Cash Equivalents
The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows (in millions):
December 31, 2023September 30, 2024
Cash and cash equivalents$73,387 $75,091 
Restricted cash included in accounts receivable, net and other497 333 
Restricted cash included in other assets6 3,253 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$73,890 $78,677 
Consolidated Statements of Cash Flow Reconciliation - Restricted Cash
The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows (in millions):
December 31, 2023September 30, 2024
Cash and cash equivalents$73,387 $75,091 
Restricted cash included in accounts receivable, net and other497 333 
Restricted cash included in other assets6 3,253 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$73,890 $78,677 
v3.24.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Lease Cost
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2023202420232024
Operating lease cost$2,679 $3,057 $7,799 $8,807 
Finance lease cost:
Amortization of lease assets1,439 1,040 4,524 2,929 
Interest on lease liabilities74 70 230 215 
Finance lease cost1,513 1,110 4,754 3,144 
Variable lease cost567 605 1,579 1,832 
Total lease cost$4,759 $4,772 $14,132 $13,783 
Other Information about Lease Amounts Recognized
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2023September 30, 2024
Weighted-average remaining lease term – operating leases11.3 years10.7 years
Weighted-average remaining lease term – finance leases11.9 years12.0 years
Weighted-average discount rate – operating leases3.3 %3.4 %
Weighted-average discount rate – finance leases2.7 %2.9 %
Lease Liabilities
Our lease liabilities were as follows (in millions):
December 31, 2023
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$90,777 $14,106 $104,883 
Less: imputed interest(15,138)(1,997)(17,135)
Present value of lease liabilities75,639 12,109 87,748 
Less: current portion of lease liabilities(8,419)(2,032)(10,451)
Total long-term lease liabilities$67,220 $10,077 $77,297 
September 30, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,609 $12,794 $108,403 
Less: imputed interest(15,932)(1,975)(17,907)
Present value of lease liabilities79,677 10,819 90,496 
Less: current portion of lease liabilities(9,301)(1,393)(10,694)
Total long-term lease liabilities$70,376 $9,426 $79,802 
v3.24.3
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Principal Contractual Commitments, Excluding Open Orders for Purchases
The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of September 30, 2024 (in millions): 
 Three Months Ended December 31,Year Ended December 31,  
 20242025202620272028ThereafterTotal
Long-term debt principal and interest$3,268 $6,858 $4,458 $10,403 $3,644 $60,176 $88,807 
Operating lease liabilities3,758 11,434 10,686 9,755 8,874 51,102 95,609 
Finance lease liabilities, including interest456 1,545 1,428 1,247 1,083 7,035 12,794 
Financing obligations, including interest (1)95 526 534 543 551 7,247 9,496 
Leases not yet commenced621 2,919 3,262 3,779 3,627 36,127 50,335 
Unconditional purchase obligations (2)2,782 7,302 5,546 4,705 4,097 27,092 51,524 
Other commitments (3)1,302 2,398 1,315 855 792 11,116 17,778 
Total commitments$12,282 $32,982 $27,229 $31,287 $22,668 $199,895 $326,343 
___________________
(1)Includes non-cancellable financing obligations for fulfillment network and data center facilities. Excluding interest, current financing obligations of $271 million and $313 million are recorded within “Accrued expenses and other” and $6.6 billion and $7.5 billion are recorded within “Other long-term liabilities” as of December 31, 2023 and September 30, 2024. The weighted-average remaining term of the financing obligations was 17.0 years and 16.4 years and the weighted-average imputed interest rate was 3.1% and 2.9% as of December 31, 2023 and September 30, 2024.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content, procure energy, and license software that are not reflected on the consolidated balance sheets. For those agreements with variable terms, we do not estimate the total obligation beyond any minimum quantities and/or pricing as of the reporting date. Purchase obligations associated with renewal provisions solely at the option of the content provider are included to the extent such commitments are fixed or a minimum amount is specified. Renewable energy agreements based on actual generation without a fixed or minimum volume commitment are not included. These agreements also provide the right to receive renewable energy certificates for no additional consideration.
(3)Includes asset retirement obligations, liabilities associated with digital media content agreements with initial terms greater than one year, and the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction. Excludes approximately $6.3 billion of income tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
v3.24.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Long-Term Debt Obligations Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2023September 30, 2024
2014 Notes issuance of $6.0 billion
2024 - 2044
3.80% - 4.95%
3.90% - 5.12%
4,000 4,000 
2017 Notes issuance of $17.0 billion
2025 - 2057
3.15% - 5.20%
3.02% - 4.33%
15,000 13,000 
2020 Notes issuance of $10.0 billion
2025 - 2060
0.80% - 2.70%
0.88% - 2.77%
9,000 9,000 
2021 Notes issuance of $18.5 billion
2026 - 2061
1.00% - 3.25%
1.14% - 3.31%
17,500 15,000 
April 2022 Notes issuance of $12.8 billion
2025 - 2062
3.00% - 4.10%
3.13% - 4.15%
12,750 11,250 
December 2022 Notes issuance of $8.3 billion
2024 - 2032
4.55% - 4.70%
4.61% - 4.83%
8,250 8,250 
Credit Facility682 — 
Total face value of long-term debt67,182 60,500 
Unamortized discount and issuance costs, net(374)(362)
Less: current portion of long-term debt(8,494)(5,248)
Long-term debt$58,314 $54,890 
___________________
(1) The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, and December 2022 Notes were 10.8, 15.5, 16.8, 14.4, 13.1, and 4.1 years as of September 30, 2024. The combined weighted-average remaining life of the Notes was 13.1 years as of September 30, 2024.
v3.24.3
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Stock-Based Compensation Expense Stock-based compensation expense is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Cost of sales$193 $193 $609 $633 
Fulfillment732 696 2,267 2,276 
Technology and infrastructure3,284 2,961 9,901 9,403 
Sales and marketing1,111 1,012 3,407 3,168 
General and administrative509 471 1,520 1,536 
Total stock-based compensation expense$5,829 $5,333 $17,704 $17,016 
Restricted Stock Unit Activity
The following table summarizes our restricted stock unit activity for the nine months ended September 30, 2024 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2023405.8 $125 
Units granted115.4 180 
Units vested(127.8)133 
Units forfeited(31.9)131 
Outstanding as of September 30, 2024361.5 139 
Scheduled Vesting for Outstanding Restricted Stock Units
Scheduled vesting for outstanding restricted stock units as of September 30, 2024, is as follows (in millions):
 Three Months Ended December 31,Year Ended December 31,  
 20242025202620272028ThereafterTotal
Scheduled vesting — restricted stock units82.2 147.8 88.8 31.3 8.4 3.0 361.5 
Changes in Stockholders' Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Total beginning stockholders’ equity$168,602 $236,447 $146,043 $201,875 
Beginning common stock108 110 108 109 
Stock-based compensation and issuance of employee benefit plan stock— — — 1 
Ending common stock108 110 108 110 
Beginning and ending treasury stock(7,837)(7,837)(7,837)(7,837)
Beginning additional paid-in capital86,896 110,633 75,066 99,025 
Stock-based compensation and issuance of employee benefit plan stock5,815 5,301 17,645 16,909 
Ending additional paid-in capital92,711 115,934 92,711 115,934 
Beginning accumulated other comprehensive income (loss)(3,680)(3,993)(4,487)(3,040)
Other comprehensive income (loss)(1,323)2,075 (516)1,122 
Ending accumulated other comprehensive income (loss)(5,003)(1,918)(5,003)(1,918)
Beginning retained earnings93,115 137,534 83,193 113,618 
Net income9,879 15,328 19,801 39,244 
Ending retained earnings102,994 152,862 102,994 152,862 
Total ending stockholders’ equity$182,973 $259,151 $182,973 $259,151 
v3.24.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Information on Reportable Segments and Reconciliation to Consolidated Net Income
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
North America
Net sales$87,887 $95,537 $247,314 $271,911 
Operating expenses83,580 89,874 238,898 256,200 
Operating income$4,307 $5,663 $8,416 $15,711 
International
Net sales$32,137 $35,888 $90,957 $99,486 
Operating expenses32,232 34,587 93,194 97,009 
Operating income (loss)$(95)$1,301 $(2,237)$2,477 
AWS
Net sales$23,059 $27,452 $66,553 $78,770 
Operating expenses16,083 17,005 49,089 49,568 
Operating income$6,976 $10,447 $17,464 $29,202 
Consolidated
Net sales$143,083 $158,877 $404,824 $450,167 
Operating expenses131,895 141,466 381,181 402,777 
Operating income11,188 17,411 23,643 47,390 
Total non-operating income (expense)1,001 626 228 (1,125)
Provision for income taxes(2,306)(2,706)(4,058)(6,940)
Equity-method investment activity, net of tax(4)(3)(12)(81)
Net income$9,879 $15,328 $19,801 $39,244 
Disaggregation of Revenue
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):    
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Net Sales:
Online stores (1)$57,267 $61,411 $161,329 $171,473 
Physical stores (2)4,959 5,228 14,878 15,636 
Third-party seller services (3)34,342 37,864 96,494 108,661 
Advertising services (4)12,060 14,331 32,252 38,926 
Subscription services (5)10,170 11,278 29,721 32,866 
AWS23,059 27,452 66,553 78,770 
Other (6)1,226 1,313 3,597 3,835 
Consolidated$143,083 $158,877 $404,824 $450,167 
____________________________
(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings, such as health care services, certain licensing and distribution of video content, and shipping services, and our co-branded credit card agreements.
v3.24.3
Accounting Policies and Supplemental Disclosures - Use of Estimates (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Jan. 01, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]                
Reduction in depreciation and amortization $ (13,442) $ (12,131) $ (37,164) $ (34,843) $ (50,984) $ (47,528)    
Net Income $ 15,328 $ 9,879 $ 39,244 $ 19,801 $ 49,868 $ 20,079    
Basic earnings per share (in usd per share) $ 1.46 $ 0.96 $ 3.76 $ 1.93        
Diluted earnings per share (in usd per share) $ 1.43 $ 0.94 $ 3.67 $ 1.89        
Change in useful lives of servers and networking equipment                
Restructuring Cost and Reserve [Line Items]                
Reduction in depreciation and amortization $ 760   $ 2,400          
Net Income $ 598   $ 1,900          
Basic earnings per share (in usd per share) $ 0.06   $ 0.18          
Diluted earnings per share (in usd per share) $ 0.06   $ 0.18          
Servers                
Restructuring Cost and Reserve [Line Items]                
Estimated useful lives of assets               5 years
Servers | Change in useful lives of servers and networking equipment                
Restructuring Cost and Reserve [Line Items]                
Estimated useful lives of assets             6 years  
v3.24.3
Accounting Policies and Supplemental Disclosures - Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
SUPPLEMENTAL CASH FLOW INFORMATION:            
Cash paid for interest on debt, net of capitalized interest $ 266 $ 465 $ 1,215 $ 1,821 $ 2,002 $ 2,450
Cash paid for operating leases 2,940 2,692 9,116 7,687 11,882 10,052
Cash paid for interest on finance leases 71 76 217 234 291 318
Cash paid for interest on financing obligations 47 50 161 150 207 205
Cash paid for income taxes, net of refunds 2,004 2,628 8,162 6,982 12,359 8,677
Assets acquired under operating leases 3,571 3,345 11,235 11,075 14,212 15,844
Property and equipment acquired under finance leases, net of remeasurements and modifications 186 183 409 431 620 748
Property and equipment recognized during the construction period of build-to-suit lease arrangements 21 93 89 308 138 618
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating $ 0 $ 492 $ 0 $ 1,212 $ 162 $ 3,063
v3.24.3
Accounting Policies and Supplemental Disclosures - Calculation of Diluted Shares (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Accounting Policies [Abstract]        
Shares used in computation of basic earnings per share (in shares) 10,501 10,322 10,447 10,286
Total dilutive effect of outstanding stock awards (in shares) 234 236 258 166
Shares used in computation of diluted earnings per share (in shares) 10,735 10,558 10,705 10,452
v3.24.3
Accounting Policies and Supplemental Disclosures - Other Income (Expense), Net (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Schedule of Investments [Line Items]                  
Marketable equity securities valuation gains (losses) $ (117) $ 1,196     $ (1,800) $ 1,015      
Equity warrant valuation gains (losses) 80 (27)     (421) (188)      
Upward adjustments relating to equity investments in private companies 2 7     13 33      
Foreign currency gains (losses) 17 (94)     (195) (15)      
Other, net (9) (51)     (315) (196)      
Total other income (expense), net (27) 1,031     (2,718) 649      
Loss from operations 17,411 11,188     47,390 23,643      
Net loss 15,328 9,879     39,244 19,801 $ 49,868 $ 20,079  
Equity method investment, nonconsolidated investee                  
Schedule of Investments [Line Items]                  
Marketable equity securities valuation gains (losses) $ (348) $ 1,200     $ (1,900) $ 926      
Equity investment, shares held (in shares) 158       158   158    
Equity investment, ownership percentage 16.00%       16.00%   16.00%    
Equity investment, voting interest 15.00%       15.00%   15.00%    
Equity investment, fair value $ 1,800       $ 1,800   $ 1,800   $ 3,700
Revenues     $ 2,362 $ 1,782          
Gross profit (loss)     (978) (947)          
Loss from operations     (2,859) (2,718)          
Net loss     $ (2,903) $ (2,544)          
v3.24.3
Accounting Policies and Supplemental Disclosures - Inventories (Details) - USD ($)
$ in Billions
Sep. 30, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Inventory valuation allowance $ 2.7 $ 3.0
v3.24.3
Accounting Policies and Supplemental Disclosures - Accounts Receivable, Net and Other (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other $ 51,638 $ 52,253
Prepaid expenses and other current assets 5,800 5,400
Allowance for doubtful accounts 1,900 1,700
Customer receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other 34,600 34,100
Vendor receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other 8,300 8,500
Seller receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other 60 1,000
Other receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other $ 3,000 $ 3,300
v3.24.3
Accounting Policies and Supplemental Disclosures - Video and Music Content (Details) - USD ($)
$ in Billions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Accounting Policies [Abstract]          
Digital video and music content, capitalized costs $ 19.8   $ 19.8   $ 17.4
Digital video and music content, expense $ 5.0 $ 4.6 $ 14.2 $ 13.0  
v3.24.3
Accounting Policies and Supplemental Disclosures - Unearned Revenue (Details) - USD ($)
$ in Billions
 9 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Unearned revenue   $ 20.9
Unearned revenue, revenue recognized $ 12.5  
Unearned revenue, long-term 7.0 $ 5.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Remaining performance obligation, contracts exceeding one year $ 164.0  
Remaining performance obligation, weighted average remaining life 3 years 10 months 24 days  
v3.24.3
Financial Instruments - Fair Values on Recurring Basis (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Equity Securities, FV-NI, Gain (Loss)          
Equity securities, unrealized gain (loss) $ (145) $ 1,200 $ (1,800) $ 1,000  
Recurring          
Schedule of Investments [Line Items]          
Cash 15,401   15,401   $ 11,706
Debt Securities, Available-for-sale          
Gross unrealized gains 9   9    
Gross unrealized losses (124)   (124)    
Cash, Cash Equivalents, and Marketable Securities          
Cash, cash equivalents and marketable securities 91,637   91,637   87,283
Cash, cash equivalents and marketable securities, amortized cost 88,888   88,888    
Less: Restricted cash, cash equivalents, and marketable securities (3,586)   (3,586)   (503)
Total cash, cash equivalents, and marketable securities 88,051   88,051   86,780
Recurring | Level 1 securities          
Schedule of Investments [Line Items]          
Equity securities 2,864   2,864   4,658
Recurring | Level 1 securities | Money market funds          
Schedule of Investments [Line Items]          
Money market funds 28,793   28,793   39,160
Recurring | Level 1 securities | Money market funds | Money market funds          
Schedule of Investments [Line Items]          
Money market funds 28,793   28,793    
Recurring | Level 2 securities | Foreign government and agency securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 302   302    
Gross unrealized gains 0   0    
Gross unrealized losses 0   0    
Fixed income securities 302   302   505
Recurring | Level 2 securities | U.S. government and agency securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 2,309   2,309    
Gross unrealized gains 1   1    
Gross unrealized losses (51)   (51)    
Fixed income securities 2,259   2,259   1,699
Recurring | Level 2 securities | Corporate debt securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 41,001   41,001    
Gross unrealized gains 7   7    
Gross unrealized losses (52)   (52)    
Fixed income securities 40,956   40,956   27,805
Recurring | Level 2 securities | Asset-backed securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 1,018   1,018    
Gross unrealized gains 1   1    
Gross unrealized losses (20)   (20)    
Fixed income securities 999   999   1,646
Recurring | Level 2 securities | Other debt securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 64   64    
Gross unrealized gains 0   0    
Gross unrealized losses (1)   (1)    
Fixed income securities $ 63   $ 63   $ 104
v3.24.3
Financial Instruments - Contractual Maturities (Details)
$ in Millions
Sep. 30, 2024
USD ($)
Amortized Cost  
Due within one year $ 69,997
Due after one year through five years 2,536
Due after five years through ten years 352
Due after ten years 602
Amortized cost 73,487
Estimated Fair Value  
Due within one year 69,976
Due after one year through five years 2,481
Due after five years through ten years 345
Due after ten years 570
Estimated fair value $ 73,372
v3.24.3
Financial Instruments - Equity Warrants and Non-Marketable Equity Investments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Sep. 30, 2023
Sep. 30, 2024
Dec. 31, 2023
Derivative [Line Items]        
Equity investments without readily determinable fair values     $ 886 $ 754
Payments to acquire nonmarketable securities $ 2,750 $ 1,250    
Warrant | Level 2 assets        
Derivative [Line Items]        
Fair value of warrant assets     $ 2,400 $ 2,200
v3.24.3
Financial Instruments - Consolidated Statements of Cash Flows Reconciliation (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]              
Cash and cash equivalents $ 75,091   $ 73,387        
Restricted cash included in accounts receivable, net and other 333   497        
Restricted cash included in other assets 3,253   6        
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 78,677 $ 71,673 $ 73,890 $ 50,081 $ 50,067 $ 54,253 $ 35,178
v3.24.3
Leases - Additional Information (Details) - USD ($)
$ in Billions
Sep. 30, 2024
Dec. 31, 2023
Leases [Abstract]    
Gross assets acquired under finance leases, location Property and equipment, net Property and equipment, net
Gross assets acquired under finance leases $ 59.2 $ 62.5
Accumulated amortization associated with finance leases $ 43.7 $ 44.7
v3.24.3
Leases - Lease Cost (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Leases [Abstract]        
Operating lease cost $ 3,057 $ 2,679 $ 8,807 $ 7,799
Finance lease cost:        
Amortization of lease assets 1,040 1,439 2,929 4,524
Interest on lease liabilities 70 74 215 230
Finance lease cost 1,110 1,513 3,144 4,754
Variable lease cost 605 567 1,832 1,579
Total lease cost $ 4,772 $ 4,759 $ 13,783 $ 14,132
v3.24.3
Leases - Other Operating and Finance Lease Information (Details)
Sep. 30, 2024
Dec. 31, 2023
Leases [Abstract]    
Weighted-average remaining lease term – operating leases 10 years 8 months 12 days 11 years 3 months 18 days
Weighted-average remaining lease term – finance leases 12 years 11 years 10 months 24 days
Weighted-average discount rate – operating leases 3.40% 3.30%
Weighted-average discount rate – finance leases 2.90% 2.70%
v3.24.3
Leases - Operating and Finance Lease Liability Reconciliation (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Leases [Abstract]    
Total operating lease liabilities $ 95,609 $ 90,777
Total finance lease liabilities 12,794 14,106
Gross lease liabilities 108,403 104,883
Imputed interest - operating leases (15,932) (15,138)
Imputed interest - finance leases (1,975) (1,997)
Imputed interest (17,907) (17,135)
Present value of operating leases 79,677 75,639
Present value of finance leases 10,819 12,109
Present value of lease liabilities $ 90,496 $ 87,748
Operating lease liability, current, location Accrued expenses and other Accrued expenses and other
Finance lease liability, current location Accrued expenses and other Accrued expenses and other
Current portion of operating lease liabilities $ (9,301) $ (8,419)
Current portion of finance lease liabilities (1,393) (2,032)
Current portion of lease liabilities $ (10,694) $ (10,451)
Operating lease liability, long-term, location Total long-term lease liabilities Total long-term lease liabilities
Finance lease liability, long-term, location Total long-term lease liabilities Total long-term lease liabilities
Total long-term operating lease liabilities $ 70,376 $ 67,220
Total long-term finance lease liabilities 9,426 10,077
Total long-term lease liabilities $ 79,802 $ 77,297
v3.24.3
Commitments and Contingencies - Commitments (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Long-term debt principal and interest    
2024 $ 3,268  
2025 6,858  
2026 4,458  
2027 10,403  
2028 3,644  
Thereafter 60,176  
Total 88,807  
Operating lease liabilities    
2024 3,758  
2025 11,434  
2026 10,686  
2027 9,755  
2028 8,874  
Thereafter 51,102  
Total operating lease liabilities 95,609 $ 90,777
Finance lease liabilities, including interest    
2024 456  
2025 1,545  
2026 1,428  
2027 1,247  
2028 1,083  
Thereafter 7,035  
Total finance lease liabilities 12,794 14,106
Financing obligations, including interest    
2024 95  
2025 526  
2026 534  
2027 543  
2028 551  
Thereafter 7,247  
Total 9,496  
Other commitments    
2024 1,302  
2025 2,398  
2026 1,315  
2027 855  
2028 792  
Thereafter 11,116  
Total 17,778  
Total commitments    
2024 12,282  
2025 32,982  
2026 27,229  
2027 31,287  
2028 22,668  
Thereafter 199,895  
Total 326,343  
Financing obligations, current 313 271
Financing obligations, noncurrent $ 7,500 $ 6,600
Financing obligations, weighted-average remaining term 16 years 4 months 24 days 17 years
Financing obligations, weighted-average imputed interest rate 2.90% 3.10%
Accrued tax contingencies $ 6,300 $ 5,200
Operating and Finance Leases, Lease Not Yet Commenced    
Leases not yet commenced and Unconditional purchase obligations    
2024 621  
2025 2,919  
2026 3,262  
2027 3,779  
2028 3,627  
Thereafter 36,127  
Total 50,335  
Long-Term Agreements to Acquire and License Digital Media Content, Procure Energy and License Software    
Leases not yet commenced and Unconditional purchase obligations    
2024 2,782  
2025 7,302  
2026 5,546  
2027 4,705  
2028 4,097  
Thereafter 27,092  
Total $ 51,524  
v3.24.3
Commitments and Contingencies - Legal Proceedings (Details) - USD ($)
$ in Millions
 1 Months Ended
Aug. 31, 2024
Apr. 30, 2024
Apr. 30, 2022
Kove IO, Inc. | Settled Litigation      
Loss Contingencies [Line Items]      
Amount awarded   $ 525  
Pre-judgment interest $ 148    
Broadband iTV | Minimum      
Loss Contingencies [Line Items]      
Damages sought     $ 166
Broadband iTV | Maximum      
Loss Contingencies [Line Items]      
Damages sought     $ 986
v3.24.3
Debt - Additional Information (Details)
 1 Months Ended 9 Months Ended
Oct. 30, 2024
USD ($)
extension
Jan. 31, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2024
EUR (€)
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]          
Total face value of long-term debt     $ 60,500,000,000   $ 67,182,000,000
Short-term debt     88,000,000   147,000,000
Revolving Credit Facility | Credit Facility          
Debt Instrument [Line Items]          
Short-term debt     $ 0   0
Term Loan | Loans Payable          
Debt Instrument [Line Items]          
Basis spread on variable rate (as a percent)   0.75%      
Issuance amount   $ 8,000,000,000.0      
Debt term   364 days      
Commercial Paper          
Debt Instrument [Line Items]          
Debt term     397 days    
Commercial paper, maximum borrowing capacity     $ 20,000,000,000.0 € 3,000,000,000.0  
Commercial paper     $ 0   0
The Credit Agreement | Credit Facility          
Debt Instrument [Line Items]          
Basis spread on variable rate (as a percent)     0.45%    
Commitment fee percentage     0.03%    
Revolving credit facility maximum borrowing capacity     $ 15,000,000,000.0    
Short Term Credit Agreement | Credit Facility          
Debt Instrument [Line Items]          
Debt term     364 days    
Short-term debt     $ 0   0
November 2023 Short-Term Credit Agreement | Credit Facility          
Debt Instrument [Line Items]          
Basis spread on variable rate (as a percent)     0.45%    
Commitment fee percentage     0.03%    
Revolving credit facility maximum borrowing capacity     $ 5,000,000,000.0    
2024 Short-Term Credit Agreement | Credit Facility | Subsequent Event          
Debt Instrument [Line Items]          
Debt term 364 days        
Revolving credit facility maximum borrowing capacity $ 5,000,000,000.0        
Additional term 364 days        
Number of term extensions | extension 1        
Senior Notes          
Debt Instrument [Line Items]          
Total face value of long-term debt     60,500,000,000    
Estimated fair value of notes     55,100,000,000   60,600,000,000
Credit Facility | Revolving Credit Facility          
Debt Instrument [Line Items]          
Total face value of long-term debt     $ 0   682,000,000
Credit Facility | Revolving Credit Facility | October 2016 Revolving Credit Facility          
Debt Instrument [Line Items]          
Basis spread on variable rate (as a percent)     1.25%    
Commitment fee percentage     0.45%    
Borrowings outstanding         $ 682,000,000
Weighted average interest rate         6.60%
Collateral amount         $ 806,000,000
Credit Facility | Revolving Credit Facility | April 2018 Revolving Credit Facility          
Debt Instrument [Line Items]          
Additional term     1 year    
Credit Facility | Letter of Credit | April 2018 Revolving Credit Facility          
Debt Instrument [Line Items]          
Unused letters of credit     $ 8,400,000,000    
v3.24.3
Debt - Long-Term Debt Obligations (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Face value of long-term debt $ 60,500 $ 67,182
Less: current portion of long-term debt (5,248) (8,494)
Long-term debt 54,890 58,314
Senior Notes    
Debt Instrument [Line Items]    
Face value of long-term debt 60,500  
Unamortized discount and issuance costs, net $ (362) (374)
Weighted average remaining lives term 13 years 1 month 6 days  
Senior Notes | 2014 Notes issuance of $6.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 6,000  
Face value of long-term debt $ 4,000 4,000
Weighted average remaining lives term 10 years 9 months 18 days  
Senior Notes | 2014 Notes issuance of $6.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.80%  
Effective Interest Rates 3.90%  
Senior Notes | 2014 Notes issuance of $6.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.95%  
Effective Interest Rates 5.12%  
Senior Notes | 2017 Notes issuance of $17.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 17,000  
Face value of long-term debt $ 13,000 15,000
Weighted average remaining lives term 15 years 6 months  
Senior Notes | 2017 Notes issuance of $17.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.15%  
Effective Interest Rates 3.02%  
Senior Notes | 2017 Notes issuance of $17.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 5.20%  
Effective Interest Rates 4.33%  
Senior Notes | 2020 Notes issuance of $10.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 10,000  
Face value of long-term debt $ 9,000 9,000
Weighted average remaining lives term 16 years 9 months 18 days  
Senior Notes | 2020 Notes issuance of $10.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 0.80%  
Effective Interest Rates 0.88%  
Senior Notes | 2020 Notes issuance of $10.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 2.70%  
Effective Interest Rates 2.77%  
Senior Notes | 2021 Notes issuance of $18.5 billion    
Debt Instrument [Line Items]    
Issuance amount $ 18,500  
Face value of long-term debt $ 15,000 17,500
Weighted average remaining lives term 14 years 4 months 24 days  
Senior Notes | 2021 Notes issuance of $18.5 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 1.00%  
Effective Interest Rates 1.14%  
Senior Notes | 2021 Notes issuance of $18.5 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.25%  
Effective Interest Rates 3.31%  
Senior Notes | April 2022 Notes issuance of $12.8 billion    
Debt Instrument [Line Items]    
Issuance amount $ 12,800  
Face value of long-term debt $ 11,250 12,750
Weighted average remaining lives term 13 years 1 month 6 days  
Senior Notes | April 2022 Notes issuance of $12.8 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.00%  
Effective Interest Rates 3.13%  
Senior Notes | April 2022 Notes issuance of $12.8 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.10%  
Effective Interest Rates 4.15%  
Senior Notes | December 2022 Notes issuance of $8.3 billion    
Debt Instrument [Line Items]    
Issuance amount $ 8,300  
Face value of long-term debt $ 8,250 8,250
Weighted average remaining lives term 4 years 1 month 6 days  
Senior Notes | December 2022 Notes issuance of $8.3 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.55%  
Effective Interest Rates 4.61%  
Senior Notes | December 2022 Notes issuance of $8.3 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.70%  
Effective Interest Rates 4.83%  
Credit Facility | Revolving Credit Facility    
Debt Instrument [Line Items]    
Face value of long-term debt $ 0 $ 682
v3.24.3
Stockholders' Equity - Additional Information (Details) - USD ($)
shares in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Mar. 31, 2022
Class of Stock [Line Items]        
Stock repurchases (in shares) 0.0 0.0    
Stock repurchase, remaining authorized amount $ 6,100,000,000      
Common shares outstanding plus underlying outstanding stock awards (in shares) 10,900.0   10,800.0  
Net unrecognized compensation cost related to unvested stock-based compensation arrangements $ 18,900,000,000      
Compensation expense expected to be expensed in next twelve months expected to exceed, percentage 50.00%      
Net unrecognized compensation cost related to unvested stock-based compensation arrangements, weighted average recognition period (in years) 1 year      
Estimated forfeiture rate 25.70%   26.10%  
Minimum        
Class of Stock [Line Items]        
Award vesting period 2 years      
Maximum        
Class of Stock [Line Items]        
Award vesting period 5 years      
March 2022 Program        
Class of Stock [Line Items]        
Stock repurchase, authorized amount       $ 10,000,000,000.0
v3.24.3
Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense $ 5,333 $ 5,829 $ 17,016 $ 17,704
Cost of sales        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 193 193 633 609
Fulfillment        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 696 732 2,276 2,267
Technology and infrastructure        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 2,961 3,284 9,403 9,901
Sales and marketing        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 1,012 1,111 3,168 3,407
General and administrative        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense $ 471 $ 509 $ 1,536 $ 1,520
v3.24.3
Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units
shares in Millions
 9 Months Ended
Sep. 30, 2024
$ / shares
shares
Number of Units  
Beginning balance (in shares) | shares 405.8
Units granted (in shares) | shares 115.4
Units vested (in shares) | shares (127.8)
Units forfeited (in shares) | shares (31.9)
Ending balance (in shares) | shares 361.5
Weighted-Average Grant-Date Fair Value  
Beginning balance (in usd per share) | $ / shares $ 125
Units granted (in usd per share) | $ / shares 180
Units vested (in usd per share) | $ / shares 133
Units forfeited (in usd per share) | $ / shares 131
Ending balance (in usd per share) | $ / shares $ 139
v3.24.3
Stockholders' Equity - Scheduled Vesting for Outstanding Restricted Stock Units (Details) - Restricted Stock Units - shares
shares in Millions
Sep. 30, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
2024 (in shares) 82.2  
2025 (in shares) 147.8  
2026 (in shares) 88.8  
2027 (in shares) 31.3  
2028 (in shares) 8.4  
Thereafter (in shares) 3.0  
Total (in shares) 361.5 405.8
v3.24.3
Stockholders' Equity - Changes in Stockholders Equity (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Changes in Stockholders' Equity                
Beginning balance $ 236,447 $ 168,602 $ 201,875 $ 146,043 $ 201,875 $ 146,043 $ 182,973  
Other comprehensive income (loss) 2,075 (1,323)     1,122 (516)    
Net income 15,328 9,879     39,244 19,801 49,868 $ 20,079
Ending balance 259,151 182,973 236,447 168,602 259,151 182,973 259,151 182,973
Common stock                
Changes in Stockholders' Equity                
Beginning balance 110 108 109 108 109 108 108  
Stock-based compensation and issuance of employee benefit plan stock 0 0     1 0    
Ending balance 110 108 110 108 110 108 110 108
Treasury stock                
Changes in Stockholders' Equity                
Beginning balance (7,837) (7,837) (7,837) (7,837) (7,837) (7,837) (7,837)  
Ending balance (7,837) (7,837) (7,837) (7,837) (7,837) (7,837) (7,837) (7,837)
Additional paid-in capital                
Changes in Stockholders' Equity                
Beginning balance 110,633 86,896 99,025 75,066 99,025 75,066 92,711  
Stock-based compensation and issuance of employee benefit plan stock 5,301 5,815     16,909 17,645    
Ending balance 115,934 92,711 110,633 86,896 115,934 92,711 115,934 92,711
Accumulated other comprehensive income (loss)                
Changes in Stockholders' Equity                
Beginning balance (3,993) (3,680) (3,040) (4,487) (3,040) (4,487) (5,003)  
Other comprehensive income (loss) 2,075 (1,323)     1,122 (516)    
Ending balance (1,918) (5,003) (3,993) (3,680) (1,918) (5,003) (1,918) (5,003)
Retained earnings                
Changes in Stockholders' Equity                
Beginning balance 137,534 93,115 113,618 83,193 113,618 83,193 102,994  
Net income 15,328 9,879     39,244 19,801    
Ending balance $ 152,862 $ 102,994 $ 137,534 $ 93,115 $ 152,862 $ 102,994 $ 152,862 $ 102,994
v3.24.3
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Income Tax Disclosure [Abstract]              
Provision (benefit) for income taxes $ 2,706 $ 2,306 $ 6,940 $ 4,058      
Net discrete tax benefit     2,400 (175)      
Income tax benefit, R&D tax credits       600      
Cash paid for income taxes, net of refunds 2,004 $ 2,628 8,162 $ 6,982 $ 12,359 $ 8,677  
Tax contingencies $ 6,300   $ 6,300   $ 6,300   $ 5,200
v3.24.3
Segment Information - Reportable Segments and Reconciliation to Consolidated Net Income (Details)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
segment
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Segment Reporting [Abstract]            
Number of operating segments | segment     3      
Segment Reporting Disclosure [Line Items]            
Net sales $ 158,877 $ 143,083 $ 450,167 $ 404,824    
Operating expenses 141,466 131,895 402,777 381,181    
Operating income 17,411 11,188 47,390 23,643    
Total non-operating income (expense) 626 1,001 (1,125) 228    
Provision for income taxes (2,706) (2,306) (6,940) (4,058)    
Equity-method investment activity, net of tax (3) (4) (81) (12)    
Net income 15,328 9,879 39,244 19,801 $ 49,868 $ 20,079
North America            
Segment Reporting Disclosure [Line Items]            
Net sales 95,537 87,887 271,911 247,314    
Operating expenses 89,874 83,580 256,200 238,898    
Operating income 5,663 4,307 15,711 8,416    
International            
Segment Reporting Disclosure [Line Items]            
Net sales 35,888 32,137 99,486 90,957    
Operating expenses 34,587 32,232 97,009 93,194    
Operating income 1,301 (95) 2,477 (2,237)    
AWS            
Segment Reporting Disclosure [Line Items]            
Net sales 27,452 23,059 78,770 66,553    
Operating expenses 17,005 16,083 49,568 49,089    
Operating income $ 10,447 $ 6,976 $ 29,202 $ 17,464    
v3.24.3
Segment Information - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]        
Total net sales $ 158,877 $ 143,083 $ 450,167 $ 404,824
Online stores        
Disaggregation of Revenue [Line Items]        
Total net sales 61,411 57,267 171,473 161,329
Physical stores        
Disaggregation of Revenue [Line Items]        
Total net sales 5,228 4,959 15,636 14,878
Third-party seller services        
Disaggregation of Revenue [Line Items]        
Total net sales 37,864 34,342 108,661 96,494
Advertising services        
Disaggregation of Revenue [Line Items]        
Total net sales 14,331 12,060 38,926 32,252
Subscription services        
Disaggregation of Revenue [Line Items]        
Total net sales 11,278 10,170 32,866 29,721
AWS        
Disaggregation of Revenue [Line Items]        
Total net sales 27,452 23,059 78,770 66,553
Other        
Disaggregation of Revenue [Line Items]        
Total net sales $ 1,313 $ 1,226 $ 3,835 $ 3,597