AMAZON COM INC, 10-Q filed on 10/28/2022
Quarterly Report
v3.22.2.2
Cover - shares
 9 Months Ended
Sep. 30, 2022
Oct. 19, 2022
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2022  
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 $.01 per share  
Trading Symbol AMZN  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   10,201,654,176
Amendment Flag false  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q3  
Current Fiscal Year End Date --12-31  
Entity Central Index Key 0001018724  
v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Statement of Cash Flows [Abstract]            
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD $ 37,700 $ 40,667 $ 36,477 $ 42,377 $ 30,177 $ 30,202
OPERATING ACTIVITIES:            
Net income (loss) 2,872 3,156 (3,000) 19,041 11,323 26,263
Adjustments to reconcile net income (loss) to net cash from operating activities:            
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 10,204 8,948 28,776 24,494 38,578 32,112
Stock-based compensation 5,556 3,180 14,015 9,077 17,695 11,639
Other operating expense (income), net 123 24 460 72 525 (415)
Other expense (income), net (1,272) 340 13,521 (2,374) 1,589 (3,701)
Deferred income taxes (825) 909 (4,781) 3,313 (8,404) 1,677
Changes in operating assets and liabilities:            
Inventories 732 (7,059) (5,772) (7,572) (7,687) (7,242)
Accounts receivable, net and other (4,794) (4,890) (13,109) (11,607) (19,665) (16,168)
Accounts payable (1,226) 3,832 (6,907) (4,387) 1,082 8,863
Accrued expenses and other (20) (1,465) (7,335) (7,210) 1,998 (84)
Unearned revenue 54 338 1,711 1,394 2,631 1,727
Net cash provided by (used in) operating activities 11,404 7,313 17,579 24,241 39,665 54,671
INVESTING ACTIVITIES:            
Purchases of property and equipment (16,378) (15,748) (47,053) (42,118) (65,988) (56,941)
Proceeds from property and equipment sales and incentives 1,337 997 4,172 3,192 6,637 4,822
Acquisitions, net of cash acquired, and other (885) (654) (7,485) (1,604) (7,866) (1,985)
Sales and maturities of marketable securities 557 15,808 25,918 46,847 38,455 64,185
Purchases of marketable securities (239) (15,231) (2,332) (51,891) (10,598) (72,692)
Net cash provided by (used in) investing activities (15,608) (14,828) (26,780) (45,574) (39,360) (62,611)
FINANCING ACTIVITIES:            
Common stock repurchased 0 0 (6,000) 0 (6,000) 0
Proceeds from short-term debt, and other 12,338 2,187 30,946 5,289 33,613 7,724
Repayments of short-term debt, and other (7,916) (1,917) (21,757) (5,094) (24,416) (7,385)
Proceeds from long-term debt 107 176 12,931 18,803 13,131 19,334
Repayments of long-term debt 0 (509) (1) (589) (1,002) (703)
Principal repayments of finance leases (1,465) (2,693) (6,301) (8,903) (8,561) (11,271)
Principal repayments of financing obligations (48) (20) (186) (115) (233) (124)
Net cash provided by (used in) financing activities 3,016 (2,776) 9,632 9,391 6,532 7,575
Foreign currency effect on cash, cash equivalents, and restricted cash (1,334) (199) (1,730) (258) (1,836) 340
Net increase (decrease) in cash, cash equivalents, and restricted cash (2,522) (10,490) (1,299) (12,200) 5,001 (25)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD $ 35,178 $ 30,177 $ 35,178 $ 30,177 $ 35,178 $ 30,177
v3.22.2.2
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Total net sales $ 127,101 $ 110,812 $ 364,779 $ 332,410
Operating expenses:        
Cost of sales 70,268 62,930 203,191 189,509
Fulfillment 20,583 18,498 61,196 52,666
Technology and content 19,485 14,380 52,399 40,739
Sales and marketing 11,014 8,010 29,420 21,741
General and administrative 3,061 2,153 8,558 6,298
Other operating expense (income), net 165 (11) 504 38
Total operating expenses 124,576 105,960 355,268 310,991
Operating income 2,525 4,852 9,511 21,419
Interest income 277 119 544 330
Interest expense (617) (493) (1,673) (1,327)
Other income (expense), net 759 (163) (13,356) 2,795
Total non-operating income (expense) 419 (537) (14,485) 1,798
Income (loss) before income taxes 2,944 4,315 (4,974) 23,217
Benefit (provision) for income taxes (69) (1,155) 1,990 (4,179)
Equity-method investment activity, net of tax (3) (4) (16) 3
Net income (loss) $ 2,872 $ 3,156 $ (3,000) $ 19,041
Basic earnings per share (in usd per share) $ 0.28 $ 0.31 $ (0.29) $ 1.88
Diluted earnings per share (in usd per share) $ 0.28 $ 0.31 $ (0.29) $ 1.85
Weighted-average shares used in computation of earnings per share:        
Basic (in shares) 10,191 10,132 10,178 10,103
Diluted (in shares) 10,331 10,309 10,178 10,287
Product        
Total net sales $ 59,340 $ 54,876 $ 172,370 $ 170,371
Service        
Total net sales $ 67,761 $ 55,936 $ 192,409 $ 162,039
v3.22.2.2
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 2,872 $ 3,156 $ (3,000) $ 19,041
Other comprehensive income (loss):        
Foreign currency translation adjustments, net of tax of $39, $76, $35, and $136 (2,142) (537) (4,661) (752)
Net change in unrealized gains (losses) on available-for-sale debt securities:        
Unrealized gains (losses), net of tax of $3, $(4), $31, and $(3) (195) (5) (1,095) (109)
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $5, $0, $13, and $0 4 (8) 17 (34)
Net unrealized gains (losses) on available-for-sale debt securities (191) (13) (1,078) (143)
Total other comprehensive income (loss) (2,333) (550) (5,739) (895)
Comprehensive income (loss) $ 539 $ 2,606 $ (8,739) $ 18,146
v3.22.2.2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Statement of Comprehensive Income [Abstract]        
Foreign currency translation adjustments, tax $ 76 $ 39 $ 136 $ 35
Unrealized gains (losses), tax (4) 3 (3) 31
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” tax $ 0 $ 5 $ 0 $ 13
v3.22.2.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 34,947 $ 36,220
Marketable securities 23,715 59,829
Inventories 36,647 32,640
Accounts receivable, net and other 36,154 32,891
Total current assets 131,463 161,580
Property and equipment, net 177,195 160,281
Operating leases 62,033 56,082
Goodwill 20,168 15,371
Other assets 37,503 27,235
Total assets 428,362 420,549
Current liabilities:    
Accounts payable 67,760 78,664
Accrued expenses and other 59,974 51,775
Unearned revenue 12,629 11,827
Total current liabilities 140,363 142,266
Long-term lease liabilities 69,332 67,651
Long-term debt 58,919 48,744
Other long-term liabilities 22,259 23,643
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; 10,644 and 10,714 shares issued; 10,175 and 10,198 shares outstanding) 107 106
Treasury stock, at cost (7,837) (1,837)
Additional paid-in capital 69,419 55,437
Accumulated other comprehensive income (loss) (7,115) (1,376)
Retained earnings 82,915 85,915
Total stockholders’ equity 137,489 138,245
Total liabilities and stockholders’ equity $ 428,362 $ 420,549
v3.22.2.2
Consolidated Balance Sheets (Parenthetical) - $ / shares
Sep. 30, 2022
Dec. 31, 2021
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) 10,714,000,000 10,644,000,000
Common stock, outstanding (in shares) 10,198,000,000 10,175,000,000
v3.22.2.2
Accounting Policies and Supplemental Disclosures
 9 Months Ended
Sep. 30, 2022
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 2022 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 2021 Annual Report on Form 10-K.
Common Stock Split
On May 27, 2022, we effected a 20-for-1 stock split of our common stock and proportionately increased the number of authorized shares of common stock. All share, restricted stock unit (“RSU”), and per share or per RSU information throughout this Quarterly Report on Form 10-Q has been retroactively adjusted to reflect the stock split. The shares of common stock retain a par value of $0.01 per share. Accordingly, an amount equal to the par value of the increased shares resulting from the stock split was reclassified from “Additional paid-in capital” to “Common stock.”
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 seller lending financing activities. 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, and valuation and impairment of investments. Actual results could differ materially from these estimates.
We review the useful lives of equipment on an ongoing basis, and effective January 1, 2022 we changed our estimate of the useful lives for our servers from four to five years and for our networking equipment 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 2022, based on servers and networking equipment that were included in “Property and equipment, net” as of June 30, 2022 and those acquired during the three months ended September 30, 2022, was a reduction in depreciation and amortization expense of $882 million and a benefit to net income of $665 million, or $0.07 per basic share and $0.06 per diluted share. The effect of this change in estimate for the nine months ended September 30, 2022, based on servers and networking equipment that were included in “Property and equipment, net” as of December 31, 2021 and those acquired during the nine months ended September 30, 2022, was a reduction in depreciation and amortization expense of $2.8 billion and a benefit to net loss of $2.2 billion, or $0.21 per basic share and $0.21 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,
202120222021202220212022
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt$276 $304 $731 $932 $933 $1,299 
Cash paid for operating leases1,812 1,813 5,029 6,268 6,230 7,961 
Cash paid for interest on finance leases121 88 407 290 535 404 
Cash paid for interest on financing obligations48 39 116 152 147 189 
Cash paid for income taxes, net of refunds750 742 3,354 4,340 3,774 4,674 
Assets acquired under operating leases10,447 6,755 19,561 14,031 23,908 19,839 
Property and equipment acquired under finance leases, net of remeasurements and modifications1,744 131 5,453 358 8,149 1,966 
Property and equipment recognized during the construction period of build-to-suit lease arrangements1,797 526 3,877 2,877 4,916 4,847 
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating
76 2,195 174 3,307 174 3,363 
Earnings Per Share
Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we have a net loss, stock awards are excluded from our calculation of earnings per share as their inclusion would have an antidilutive effect.
The following table shows the calculation of diluted shares (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202220212022
Shares used in computation of basic earnings per share10,132 10,191 10,103 10,178 
Total dilutive effect of outstanding stock awards177 140 184 — 
Shares used in computation of diluted earnings per share10,309 10,331 10,287 10,178 
Other Income (Expense), Net
Other income (expense), net, is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202220212022
Marketable equity securities valuation gains (losses)$(129)$1,039 $(48)$(11,528)
Equity warrant valuation gains (losses)(50)(170)1,194 (1,606)
Upward adjustments relating to equity investments in private companies155 11 1,661 76 
Foreign currency gains (losses)(107)(103)(28)(206)
Other, net(32)(18)16 (92)
Total other income (expense), net(163)759 2,795 (13,356)
Included in other income (expense), net is a marketable equity securities valuation gain (loss) of $1.1 billion in Q3 2022, and $(10.4) billion for the nine months ended September 30, 2022, from our equity investment in Rivian Automotive, Inc. (“Rivian”). Our investment in Rivian’s preferred stock was accounted for at cost, with adjustments for observable changes in prices or impairments, prior to Rivian’s initial public offering in November 2021, which resulted in the conversion of our preferred stock to Class A common stock. As of September 30, 2022, we held 158 million shares of Rivian’s Class A common stock, representing an approximate 17% ownership interest, and an approximate 16% voting interest. We determined that we have the ability to exercise significant influence over Rivian through our equity investment, our commercial arrangement for the purchase of electric vehicles, and one of our employees serving on Rivian’s board of directors. We elected the fair value
option to account for our equity investment in Rivian, which is included in “Marketable securities” on our consolidated balance sheets.
Required summarized financial information of Rivian as disclosed in its most recent SEC filings is as follows (in millions):
Six Months Ended June 30,
20212022
Revenues$— $459 
Gross profit— (1,206)
Loss from operations(990)(3,287)
Net loss(994)(3,305)
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 $2.6 billion and $2.3 billion as of December 31, 2021 and September 30, 2022.
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are amounts primarily related to customers, vendors, and sellers. As of December 31, 2021 and September 30, 2022, customer receivables, net, were $20.2 billion and $22.8 billion, vendor receivables, net, were $5.3 billion and $4.9 billion, and seller receivables, net, were $1.0 billion and $1.4 billion. Seller receivables are amounts due from sellers related to our seller lending program, which provides funding to sellers primarily to procure inventory.
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. The allowance for doubtful accounts was $1.1 billion and $1.3 billion as of December 31, 2021 and September 30, 2022.
Digital Video and Music Content
The total capitalized costs of video, which is primarily released content, and music as of December 31, 2021 and September 30, 2022 were $10.7 billion and $16.3 billion. Total video and music expense was $3.3 billion and $4.2 billion in Q3 2021 and Q3 2022, and $9.4 billion and $11.4 billion for the nine months ended September 30, 2021 and 2022.
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, 2021 was $14.0 billion, of which $10.1 billion was recognized as revenue during the nine months ended September 30, 2022. Included in “Other long-term liabilities” on our consolidated balance sheets was $2.2 billion and $2.7 billion of unearned revenue as of December 31, 2021 and September 30, 2022.
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 $104.3 billion as of September 30, 2022. The weighted-average remaining life of our long-term contracts is 3.8 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
Acquisition Activity
On March 17, 2022, we acquired MGM Holdings Inc. (“MGM”), for cash consideration of approximately $6.1 billion, net of cash acquired, to provide more digital media content options for customers. We also assumed $2.5 billion of debt, which we repaid immediately after closing. The acquired assets primarily consist of $3.4 billion of video content and $4.9 billion of goodwill, the majority of which is allocated to our North America segment.
Pro forma results of operations have not been presented because the effects of the MGM acquisition were not material to our consolidated results of operations. Acquisition-related costs were expensed as incurred and were not significant.
v3.22.2.2
Financial Instruments
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
Cash, Cash Equivalents, Restricted Cash, and Marketable Securities
As of December 31, 2021 and September 30, 2022, 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. We did not hold significant amounts of marketable securities categorized as Level 3 assets as of December 31, 2021 and September 30, 2022.
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, 2021September 30, 2022
  
Total
Estimated
Fair Value		Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$10,942 $10,720 $— $— $10,720 
Level 1 securities:
Money market funds20,312 16,697 — — 16,697 
Equity securities (1)(3)1,646 5,988 
Level 2 securities:
Foreign government and agency securities181 141 — (2)139 
U.S. government and agency securities4,300 2,301 — (169)2,132 
Corporate debt securities35,764 20,229 — (799)19,430 
Asset-backed securities6,738 3,578 — (191)3,387 
Other fixed income securities686 403 — (22)381 
Equity securities (1)(3)15,740 19 
$96,309 $54,069 $— $(1,183)$58,893 
Less: Restricted cash, cash equivalents, and marketable securities (2)(260)(231)
Total cash, cash equivalents, and marketable securities$96,049 $58,662 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $(116) million and $1.0 billion in Q3 2021 and Q3 2022, and $6 million and $(11.3) billion for the nine months ended September 30, 2021 and 2022.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable fixed income securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, and standby and trade letters of credit. We classify cash, cash equivalents, and marketable fixed income 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.”
(3)Our equity investment in Rivian had a fair value of $15.6 billion and $5.2 billion as of December 31, 2021 and September 30, 2022, respectively. The investment was subject to regulatory sales restrictions resulting in a discount for lack of marketability of approximately $800 million as of December 31, 2021, which expired in Q1 2022.
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable fixed income securities as of September 30, 2022 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$26,797 $26,738 
Due after one year through five years13,757 12,807 
Due after five years through ten years772 728 
Due after ten years2,023 1,893 
Total$43,349 $42,166 
Actual maturities may differ from the contractual maturities because borrowers may have certain prepayment conditions.
Equity Warrants and Non-Marketable Equity Investments
We hold equity warrants giving us the right to acquire stock of other companies. As of December 31, 2021 and September 30, 2022, these warrants had a fair value of $3.4 billion and $2.5 billion, and are recorded within “Other assets” on our consolidated balance sheets with gains and losses recognized in “Other income (expense), net” on our consolidated statements of operations. These warrants are primarily classified as Level 2 assets.
As of December 31, 2021 and September 30, 2022, equity investments not accounted for under the equity-method and without readily determinable fair values had a carrying value of $603 million and $831 million, and are recorded within “Other assets” on our consolidated balance sheets with adjustments recognized in “Other income (expense), net” on our consolidated statements of operations.
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, 2021September 30, 2022
Cash and cash equivalents$36,220 $34,947 
Restricted cash included in accounts receivable, net and other242 224 
Restricted cash included in other assets15 7 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$36,477 $35,178 
v3.22.2.2
Leases
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Leases LEASES
We have entered into non-cancellable operating and finance leases for fulfillment, delivery, office, physical store, data center, and sortation facilities as well as server and networking equipment, vehicles, and aircraft. Gross assets acquired under finance leases, inclusive of those where title transfers at the end of the lease, are recorded in “Property and equipment, net” and were $72.2 billion and $66.6 billion as of December 31, 2021 and September 30, 2022. Accumulated amortization associated with finance leases was $43.4 billion as of December 31, 2021 and September 30, 2022.
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,
2021202220212022
Operating lease cost$1,911 $2,236 $5,129 $6,472 
Finance lease cost:
Amortization of lease assets2,497 1,496 7,442 4,586 
Interest on lease liabilities114 85 365 280 
Finance lease cost2,611 1,581 7,807 4,866 
Variable lease cost372 462 1,135 1,402 
Total lease cost$4,894 $4,279 $14,071 $12,740 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2021September 30, 2022
Weighted-average remaining lease term – operating leases11.3 years11.4 years
Weighted-average remaining lease term – finance leases8.1 years9.8 years
Weighted-average discount rate – operating leases2.2 %2.6 %
Weighted-average discount rate – finance leases2.0 %2.3 %
Our lease liabilities were as follows (in millions):
December 31, 2021
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$66,269 $25,866 $92,135 
Less: imputed interest(7,939)(2,113)(10,052)
Present value of lease liabilities58,330 23,753 82,083 
Less: current portion of lease liabilities(6,349)(8,083)(14,432)
Total long-term lease liabilities$51,981 $15,670 $67,651 
September 30, 2022
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$75,495 $18,838 $94,333 
Less: imputed interest(10,712)(2,207)(12,919)
Present value of lease liabilities64,783 16,631 81,414 
Less: current portion of lease liabilities(7,046)(5,036)(12,082)
Total long-term lease liabilities$57,737 $11,595 $69,332 
Leases LEASES
We have entered into non-cancellable operating and finance leases for fulfillment, delivery, office, physical store, data center, and sortation facilities as well as server and networking equipment, vehicles, and aircraft. Gross assets acquired under finance leases, inclusive of those where title transfers at the end of the lease, are recorded in “Property and equipment, net” and were $72.2 billion and $66.6 billion as of December 31, 2021 and September 30, 2022. Accumulated amortization associated with finance leases was $43.4 billion as of December 31, 2021 and September 30, 2022.
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,
2021202220212022
Operating lease cost$1,911 $2,236 $5,129 $6,472 
Finance lease cost:
Amortization of lease assets2,497 1,496 7,442 4,586 
Interest on lease liabilities114 85 365 280 
Finance lease cost2,611 1,581 7,807 4,866 
Variable lease cost372 462 1,135 1,402 
Total lease cost$4,894 $4,279 $14,071 $12,740 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2021September 30, 2022
Weighted-average remaining lease term – operating leases11.3 years11.4 years
Weighted-average remaining lease term – finance leases8.1 years9.8 years
Weighted-average discount rate – operating leases2.2 %2.6 %
Weighted-average discount rate – finance leases2.0 %2.3 %
Our lease liabilities were as follows (in millions):
December 31, 2021
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$66,269 $25,866 $92,135 
Less: imputed interest(7,939)(2,113)(10,052)
Present value of lease liabilities58,330 23,753 82,083 
Less: current portion of lease liabilities(6,349)(8,083)(14,432)
Total long-term lease liabilities$51,981 $15,670 $67,651 
September 30, 2022
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$75,495 $18,838 $94,333 
Less: imputed interest(10,712)(2,207)(12,919)
Present value of lease liabilities64,783 16,631 81,414 
Less: current portion of lease liabilities(7,046)(5,036)(12,082)
Total long-term lease liabilities$57,737 $11,595 $69,332 
v3.22.2.2
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2022
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, 2022 (in millions): 
 Three Months Ended December 31,Year Ended December 31,  
 20222023202420252026ThereafterTotal
Long-term debt principal and interest$1,886 $4,789 $8,993 $5,995 $4,563 $67,529 $93,755 
Operating lease liabilities2,664 8,380 7,918 7,327 6,747 42,459 75,495 
Finance lease liabilities, including interest1,616 4,523 2,137 1,345 1,188 8,029 18,838 
Financing obligations, including interest (1)115 462 462 456 463 7,177 9,135 
Leases not yet commenced213 1,562 2,158 2,126 2,153 19,497 27,709 
Unconditional purchase obligations (2)1,721 7,102 6,296 4,984 4,335 9,405 33,843 
Other commitments (3)(4)1,191 2,485 1,586 1,006 1,063 9,716 17,047 
Total commitments$9,406 $29,303 $29,550 $23,239 $20,512 $163,812 $275,822 
___________________
(1)Includes non-cancellable financing obligations for fulfillment, sortation, and data center facilities. Excluding interest, current financing obligations of $196 million and $254 million are recorded within “Accrued expenses and other” and $6.2 billion and $6.7 billion are recorded within “Other long-term liabilities” as of December 31, 2021 and September 30, 2022. The weighted-average remaining term of the financing obligations was 18.8 years and 18.2 years and the weighted-average imputed interest rate was 3.2% as of December 31, 2021 and September 30, 2022.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content that are not reflected on the consolidated balance sheets and certain products offered in our Whole Foods Market stores. For those digital media content 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.
(3)Includes asset retirement obligations, the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction, and liabilities associated with digital media content agreements with initial terms greater than one year.
(4)Excludes approximately $3.4 billion of accrued tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
In addition, we are paying the previously disclosed €1.13 billion fine imposed by the Italian Competition Authority in December 2021, which we will seek to recover pending conclusion of all appeals.
In July 2022, we entered into an agreement to acquire 1Life Healthcare, Inc. (One Medical) for approximately $3.9 billion, including its debt, subject to customary closing conditions. In August 2022, we entered into an agreement to acquire iRobot Corporation for approximately $1.7 billion, including its debt, subject to customary closing conditions. We expect to fund these acquisitions with cash on hand.
Other Contingencies
We are disputing claims and denials of refunds or credits 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 relate to (i) the taxability of products and services, including cross-border intercompany transactions, (ii) collection and withholding on transactions with third parties, 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 2021 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, 2022 and June 30, 2022, as supplemented by the following:
Beginning in March 2020, with Frame-Wilson v. Amazon.com, Inc. filed in the United States District Court for the Western District of Washington, 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 actual damages, treble damages, punitive damages, injunctive relief, civil penalties, attorneys’ fees, and costs. In March 2022, the court in the Frame-Wilson case granted Amazon’s motion to dismiss claims alleging that Amazon’s pricing policies are inherently illegal under federal law and claims alleging competition and consumer protection violations under state law, and denied Amazon’s motion to dismiss claims alleging that Amazon’s pricing policies are an unlawful restraint of trade under federal law. In the same month, the DC Superior Court dismissed the DC Attorney General’s lawsuit in its entirety; the dismissal is subject to appeal. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
In October 2020, BroadbandiTV, 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, BroadbandiTV alleged in its damages report that, in the event of a finding of liability, Amazon.com, Inc., Amazon.com Services LLC, and Amazon Web Services, Inc. could be subject to $166-$986 million in damages. In September 2022, the court granted summary judgment, holding that the patents are invalid. This decision is subject to appeal. We dispute the allegations of wrongdoing and will continue to defend ourselves vigorously in this matter.
In January 2022, VideoLabs, Inc. and VL Collective IP LLC filed a complaint against Amazon.com, Inc. and Amazon Web Services, Inc. in the United States District Court for the Western District of Texas. The complaint alleges, among other things, that Amazon Prime Video, Amazon Glow, Amazon Echo Show, Fire TV, Fire TV Cube, Fire TV Stick, Fire Tablets, AWS Elemental MediaConvert, AWS Elemental Live, AWS Elemental Server, AWS Elemental MediaPackage, AWS Elemental MediaLive, and Amazon Elastic Transcoder infringe U.S. Patent Nos. 7,769,238 and 8,139,878; both entitled “Picture Coding Method and Picture Decoding Method”, and 7,970,059, entitled “Variable Length Coding Method and Variable Length Decoding Method”; that Amazon Prime Video, AWS Elemental MediaConvert, AWS Elemental Live, AWS Elemental Server, AWS Elemental MediaPackage, AWS Elemental MediaLive, Amazon Elastic Transcoder, and Amazon Kinesis Video Streams infringe U.S. Patent No. 8,605,794, entitled “Method for Synchronizing Content-Dependent Data Segments of Files”; that Amazon Echo Show, Amazon Echo Spot, Amazon Connect, Amazon Chime, and Amazon Kinesis Video Streams infringe U.S. Patent No. 7,266,682, entitled “Method and System for Transmitting Data from a Transmitter to a Receiver and Transmitter and Receiver Therefore”; that AWS Auto Scaling and Amazon EC2 Auto Scaling infringe U.S. Patent No. 6,880,156, entitled “Demand Responsive Method and Apparatus to Automatically Activate Spare Servers”; and that Amazon Prime Video infringes U.S. Patent No. 7,440,559, entitled “System and Associated Terminal, Method and Computer Program Product for Controlling the Flow of Content.” The complaint seeks an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, interest, and injunctive relief. In October 2022, the case was transferred to the United States District Court for the Western District of Washington. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter.
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.”
v3.22.2.2
Debt
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Debt DEBT
As of September 30, 2022, we had $62.5 billion of unsecured senior notes outstanding (the “Notes”), including $12.8 billion issued in April 2022 for general corporate purposes, and $1.0 billion of borrowings under our credit facility. Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2021September 30, 2022
2012 Notes issuance of $3.0 billion
20222.50%2.66%1,250 1,250 
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
2023 - 2057
2.40% - 5.20%
2.56% - 4.33%
16,000 16,000 
2020 Notes issuance of $10.0 billion
2023 - 2060
0.40% - 2.70%
0.56% - 2.77%
10,000 10,000 
2021 Notes issuance of $18.5 billion
2023 - 2061
0.25% - 3.25%
0.35% - 3.31%
18,500 18,500 
2022 Notes Issuance of $12.8 billion
2024 - 2062
2.73% - 4.10%
2.83% - 4.15%
— 12,750 
Credit Facility803 1,041 
Total face value of long-term debt50,553 63,541 
Unamortized discount and issuance costs, net(318)(375)
Less: current portion of long-term debt(1,491)(4,247)
Long-term debt$48,744 $58,919 
___________________
(1) The weighted-average remaining lives of the 2012, 2014, 2017, 2020, 2021, and 2022 Notes were 0.2, 12.8, 14.5, 17.0, 13.6, and 13.5 years as of September 30, 2022. The combined weighted-average remaining life of the Notes was 14.0 years as of September 30, 2022.
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 $53.3 billion and $53.7 billion as of December 31, 2021 and September 30, 2022, which is based on quoted prices for our debt as of those dates.
We have a $1.5 billion secured revolving credit facility with a lender that is secured by certain seller receivables, which we increased from $1.0 billion to $1.5 billion in August 2022 and we may from time to time increase in the future subject to lender approval (the “Credit Facility”). The Credit Facility is available until August 2025, bears interest based on the daily Secured Overnight Financing Rate plus 1.25%, and has a commitment fee of up to 0.45% on the undrawn portion. There were $803 million and $1.0 billion of borrowings outstanding under the Credit Facility as of December 31, 2021 and September 30, 2022, which had a weighted-average interest rate of 2.7%. As of December 31, 2021 and September 30, 2022, we have pledged $918 million and $1.2 billion of our cash and seller receivables as collateral for debt related to our Credit Facility. The estimated fair value of the Credit Facility, which is based on Level 2 inputs, approximated its carrying value as of December 31, 2021 and September 30, 2022.
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. In March 2022, we increased the size of the Commercial Paper Programs from $10.0 billion to $20.0 billion. There were $725 million and $11.7 billion of borrowings outstanding under the Commercial Paper Programs as of December 31, 2021 and September 30, 2022, which were included in “Accrued expenses and other” on our consolidated balance sheets and had a weighted-average effective interest rate, including issuance costs, of 0.08% and 2.54%, respectively. We use the net proceeds from the issuance of commercial paper for general corporate purposes.
We also have a $10.0 billion unsecured revolving credit facility with a syndicate of lenders (the “Credit Agreement”), which was amended and restated in March 2022 to increase the borrowing capacity from $7.0 billion to $10.0 billion and to extend the term to March 2025. It may be extended for up to three additional one-year terms if approved 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, 2021 and September 30, 2022.We also utilize other short-term credit facilities for working capital purposes. There were $318 million and $1.1 billion of borrowings outstanding under these facilities as of December 31, 2021 and September 30, 2022, which were included in “Accrued expenses and other” on our consolidated balance sheets. In addition, we had $10.0 billion of unused letters of credit as of September 30, 2022.
v3.22.2.2
Stockholders' Equity
 9 Months Ended
Sep. 30, 2022
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, which replaced the previous $5.0 billion stock repurchase authorization, approved by the Board of Directors in February 2016. We repurchased 46.2 million shares of our common stock for $6.0 billion during the nine months ended September 30, 2022 under these programs. As of September 30, 2022, we have $6.1 billion remaining under the repurchase program.
Stock Award Activity
Common shares outstanding plus shares underlying outstanding stock awards totaled 10.5 billion and 10.6 billion as of December 31, 2021 and September 30, 2022. 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,
2021202220212022
Cost of sales$126 $190 $361 $549 
Fulfillment473 727 1,381 1,988 
Technology and content1,627 3,036 4,742 7,495 
Sales and marketing657 1,128 1,804 2,783 
General and administrative297 475 789 1,200 
Total stock-based compensation expense$3,180 $5,556 $9,077 $14,015 
The following table summarizes our restricted stock unit activity for the nine months ended September 30, 2022 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2021279.9 $134 
Units granted224.1 150 
Units vested(69.1)109 
Units forfeited(35.6)143 
Outstanding as of September 30, 2022399.3 147 
Scheduled vesting for outstanding restricted stock units as of September 30, 2022, is as follows (in millions):
 Three Months Ended December 31,Year Ended December 31,  
 20222023202420252026ThereafterTotal
Scheduled vesting — restricted stock units44.0 137.2 133.0 56.5 24.7 3.9 399.3 
As of September 30, 2022, there was $26.9 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 1.1 years. The
estimated forfeiture rate as of December 31, 2021 and September 30, 2022 was 27% and 26%. Changes in our estimates and assumptions relating to forfeitures may cause us to realize material changes in stock-based compensation expense in the future.
Changes in Stockholders’ Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202220212022
Total beginning stockholders’ equity$114,803 $131,402 $93,404 $138,245 
Beginning common stock106 107 105 106 
Stock-based compensation and issuance of employee benefit plan stock— — 1 1 
Ending common stock106 107 106 107 
Beginning treasury stock(1,837)(7,837)(1,837)(1,837)
Common stock repurchased— — — (6,000)
Ending treasury stock(1,837)(7,837)(1,837)(7,837)
Beginning additional paid-in capital48,623 63,871 42,765 55,437 
Stock-based compensation and issuance of employee benefit plan stock3,155 5,548 9,013 13,982 
Ending additional paid-in capital51,778 69,419 51,778 69,419 
Beginning accumulated other comprehensive income (loss)(525)(4,782)(180)(1,376)
Other comprehensive income (loss)(550)(2,333)(895)(5,739)
Ending accumulated other comprehensive income (loss)(1,075)(7,115)(1,075)(7,115)
Beginning retained earnings68,436 80,043 52,551 85,915 
Net income (loss)3,156 2,872 19,041 (3,000)
Ending retained earnings71,592 82,915 71,592 82,915 
Total ending stockholders’ equity$120,564 $137,489 $120,564 $137,489 
v3.22.2.2
Income Taxes
 9 Months Ended
Sep. 30, 2022
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 2022, we estimate that our effective tax rate will be favorably impacted by the U.S. federal research and development credit. 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, 2021 was $4.2 billion, which included $1.7 billion of net discrete tax benefits primarily attributable to excess tax benefits from stock-based compensation and audit-related developments. Our income tax benefit for the nine months ended September 30, 2022 was $2.0 billion, which included $3.3 billion of net discrete tax benefits primarily attributable to a valuation loss related to our equity investment in Rivian.
Cash paid for income taxes, net of refunds was $750 million and $742 million in Q3 2021 and Q3 2022, and $3.4 billion and $4.3 billion for the nine months ended September 30, 2021 and 2022.
As of December 31, 2021 and September 30, 2022, tax contingencies were approximately $3.2 billion and $3.4 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 2009 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. We believe the LTA’s position is without merit and intend to defend ourselves vigorously in this matter.
In October 2014, the European Commission opened a formal investigation to examine whether decisions by the tax authorities in Luxembourg with regard to the corporate income tax paid by certain of our subsidiaries comply with European Union rules on state aid. On October 4, 2017, the European Commission announced its decision that determinations by the tax authorities in Luxembourg did not comply with European Union rules on state aid. Based on that decision, the European Commission announced an estimated recovery amount of approximately €250 million, plus interest, for the period May 2006 through June 2014, and ordered Luxembourg tax authorities to calculate the actual amount of additional taxes subject to recovery. Luxembourg computed an initial recovery amount, consistent with the European Commission’s decision, which we deposited into escrow in March 2018, subject to adjustment pending conclusion of all appeals. In December 2017, Luxembourg appealed the European Commission’s decision. In May 2018, we appealed. On May 12, 2021, the European Union General Court annulled the European Commission’s state aid decision. In July 2021, the European Commission appealed the decision to the European Court of Justice. We will continue to defend ourselves vigorously in this matter.
v3.22.2.2
Segment Information
 9 Months Ended
Sep. 30, 2022
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 content,” “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 infrastructure costs are allocated to the AWS segment based on usage. The majority of the remaining non-infrastructure technology costs are incurred in the U.S. and are allocated to our North America segment. There are no internal revenue transactions between our reportable segments. These segments reflect the way our chief operating decision maker evaluates the Company’s business performance and manages its operations.
North America
The North America segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and subscriptions 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 subscriptions 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 (loss) is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202220212022
North America
Net sales$65,557 $78,843 $197,473 $222,517 
Operating expenses64,677 79,255 189,996 225,124 
Operating income (loss)$880 $(412)$7,477 $(2,607)
International
Net sales$29,145 $27,720 $90,515 $83,544 
Operating expenses30,056 30,186 89,812 89,062 
Operating income (loss)$(911)$(2,466)$703 $(5,518)
AWS
Net sales$16,110 $20,538 $44,422 $58,718 
Operating expenses11,227 15,135 31,183 41,082 
Operating income$4,883 $5,403 $13,239 $17,636 
Consolidated
Net sales$110,812 $127,101 $332,410 $364,779 
Operating expenses105,960 124,576 310,991 355,268 
Operating income4,852 2,525 21,419 9,511 
Total non-operating income (expense)(537)419 1,798 (14,485)
Benefit (provision) for income taxes(1,155)(69)(4,179)1,990 
Equity-method investment activity, net of tax(4)(3)3 (16)
Net income (loss)$3,156 $2,872 $19,041 $(3,000)
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,
2021202220212022
Net Sales:
Online stores (1)$49,942 $53,489 $156,000 $155,473 
Physical stores (2)4,269 4,694 12,387 14,006 
Third-party seller services (3)24,252 28,666 73,046 81,377 
Subscription services (4)8,148 8,903 23,645 26,029 
Advertising services (5)7,612 9,548 21,444 26,182 
AWS16,110 20,538 44,422 58,718 
Other (6)479 1,263 1,466 2,994 
Consolidated$110,812 $127,101 $332,410 $364,779 
____________________________
(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 product 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 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.
(5)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(6)Includes sales related to various other offerings, such as certain licensing and distribution of video content and shipping services, and our co-branded credit card agreements.
v3.22.2.2
Accounting Policies and Supplemental Disclosures (Policies)
 9 Months Ended
Sep. 30, 2022
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 2022 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 2021 Annual Report on Form 10-K.
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 seller lending financing activities. 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, and valuation and impairment of investments. Actual results could differ materially from these estimates.
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 $2.6 billion and $2.3 billion as of December 31, 2021 and September 30, 2022.
Accounts Receivable, Net and Other
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are amounts primarily related to customers, vendors, and sellers. As of December 31, 2021 and September 30, 2022, customer receivables, net, were $20.2 billion and $22.8 billion, vendor receivables, net, were $5.3 billion and $4.9 billion, and seller receivables, net, were $1.0 billion and $1.4 billion. Seller receivables are amounts due from sellers related to our seller lending program, which provides funding to sellers primarily to procure inventory.
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. The allowance for doubtful accounts was $1.1 billion and $1.3 billion as of December 31, 2021 and September 30, 2022.
Digital Video and Music Content
Digital Video and Music Content
The total capitalized costs of video, which is primarily released content, and music as of December 31, 2021 and September 30, 2022 were $10.7 billion and $16.3 billion. Total video and music expense was $3.3 billion and $4.2 billion in Q3 2021 and Q3 2022, and $9.4 billion and $11.4 billion for the nine months ended September 30, 2021 and 2022.
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, 2021 was $14.0 billion, of which $10.1 billion was recognized as revenue during the nine months ended September 30, 2022. Included in “Other long-term liabilities” on our consolidated balance sheets was $2.2 billion and $2.7 billion of unearned revenue as of December 31, 2021 and September 30, 2022.
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 $104.3 billion as of September 30, 2022. The weighted-average remaining life of our long-term contracts is 3.8 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
v3.22.2.2
Accounting Policies and Supplemental Disclosures (Tables)
 9 Months Ended
Sep. 30, 2022
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,
202120222021202220212022
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt$276 $304 $731 $932 $933 $1,299 
Cash paid for operating leases1,812 1,813 5,029 6,268 6,230 7,961 
Cash paid for interest on finance leases121 88 407 290 535 404 
Cash paid for interest on financing obligations48 39 116 152 147 189 
Cash paid for income taxes, net of refunds750 742 3,354 4,340 3,774 4,674 
Assets acquired under operating leases10,447 6,755 19,561 14,031 23,908 19,839 
Property and equipment acquired under finance leases, net of remeasurements and modifications1,744 131 5,453 358 8,149 1,966 
Property and equipment recognized during the construction period of build-to-suit lease arrangements1,797 526 3,877 2,877 4,916 4,847 
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating
76 2,195 174 3,307 174 3,363 
Calculation of Diluted Shares
The following table shows the calculation of diluted shares (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202220212022
Shares used in computation of basic earnings per share10,132 10,191 10,103 10,178 
Total dilutive effect of outstanding stock awards177 140 184 — 
Shares used in computation of diluted earnings per share10,309 10,331 10,287 10,178 
Other Income (Expense), Net
Other income (expense), net, is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202220212022
Marketable equity securities valuation gains (losses)$(129)$1,039 $(48)$(11,528)
Equity warrant valuation gains (losses)(50)(170)1,194 (1,606)
Upward adjustments relating to equity investments in private companies155 11 1,661 76 
Foreign currency gains (losses)(107)(103)(28)(206)
Other, net(32)(18)16 (92)
Total other income (expense), net(163)759 2,795 (13,356)
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,
20212022
Revenues$— $459 
Gross profit— (1,206)
Loss from operations(990)(3,287)
Net loss(994)(3,305)
v3.22.2.2
Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2022
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, 2021September 30, 2022
  
Total
Estimated
Fair Value		Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$10,942 $10,720 $— $— $10,720 
Level 1 securities:
Money market funds20,312 16,697 — — 16,697 
Equity securities (1)(3)1,646 5,988 
Level 2 securities:
Foreign government and agency securities181 141 — (2)139 
U.S. government and agency securities4,300 2,301 — (169)2,132 
Corporate debt securities35,764 20,229 — (799)19,430 
Asset-backed securities6,738 3,578 — (191)3,387 
Other fixed income securities686 403 — (22)381 
Equity securities (1)(3)15,740 19 
$96,309 $54,069 $— $(1,183)$58,893 
Less: Restricted cash, cash equivalents, and marketable securities (2)(260)(231)
Total cash, cash equivalents, and marketable securities$96,049 $58,662 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $(116) million and $1.0 billion in Q3 2021 and Q3 2022, and $6 million and $(11.3) billion for the nine months ended September 30, 2021 and 2022.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable fixed income securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, and standby and trade letters of credit. We classify cash, cash equivalents, and marketable fixed income 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.”
(3)Our equity investment in Rivian had a fair value of $15.6 billion and $5.2 billion as of December 31, 2021 and September 30, 2022, respectively. The investment was subject to regulatory sales restrictions resulting in a discount for lack of marketability of approximately $800 million as of December 31, 2021, which expired in Q1 2022.
Investments Classified by Contractual Maturity Date
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable fixed income securities as of September 30, 2022 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$26,797 $26,738 
Due after one year through five years13,757 12,807 
Due after five years through ten years772 728 
Due after ten years2,023 1,893 
Total$43,349 $42,166 
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, 2021September 30, 2022
Cash and cash equivalents$36,220 $34,947 
Restricted cash included in accounts receivable, net and other242 224 
Restricted cash included in other assets15 7 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$36,477 $35,178 
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, 2021September 30, 2022
Cash and cash equivalents$36,220 $34,947 
Restricted cash included in accounts receivable, net and other242 224 
Restricted cash included in other assets15 7 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$36,477 $35,178 
v3.22.2.2
Leases (Tables)
 9 Months Ended
Sep. 30, 2022
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,
2021202220212022
Operating lease cost$1,911 $2,236 $5,129 $6,472 
Finance lease cost:
Amortization of lease assets2,497 1,496 7,442 4,586 
Interest on lease liabilities114 85 365 280 
Finance lease cost2,611 1,581 7,807 4,866 
Variable lease cost372 462 1,135 1,402 
Total lease cost$4,894 $4,279 $14,071 $12,740 
Other Information about Lease Amounts Recognized
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2021September 30, 2022
Weighted-average remaining lease term – operating leases11.3 years11.4 years
Weighted-average remaining lease term – finance leases8.1 years9.8 years
Weighted-average discount rate – operating leases2.2 %2.6 %
Weighted-average discount rate – finance leases2.0 %2.3 %
Lease Liabilities
Our lease liabilities were as follows (in millions):
December 31, 2021
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$66,269 $25,866 $92,135 
Less: imputed interest(7,939)(2,113)(10,052)
Present value of lease liabilities58,330 23,753 82,083 
Less: current portion of lease liabilities(6,349)(8,083)(14,432)
Total long-term lease liabilities$51,981 $15,670 $67,651 
September 30, 2022
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$75,495 $18,838 $94,333 
Less: imputed interest(10,712)(2,207)(12,919)
Present value of lease liabilities64,783 16,631 81,414 
Less: current portion of lease liabilities(7,046)(5,036)(12,082)
Total long-term lease liabilities$57,737 $11,595 $69,332 
v3.22.2.2
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2022
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, 2022 (in millions): 
 Three Months Ended December 31,Year Ended December 31,  
 20222023202420252026ThereafterTotal
Long-term debt principal and interest$1,886 $4,789 $8,993 $5,995 $4,563 $67,529 $93,755 
Operating lease liabilities2,664 8,380 7,918 7,327 6,747 42,459 75,495 
Finance lease liabilities, including interest1,616 4,523 2,137 1,345 1,188 8,029 18,838 
Financing obligations, including interest (1)115 462 462 456 463 7,177 9,135 
Leases not yet commenced213 1,562 2,158 2,126 2,153 19,497 27,709 
Unconditional purchase obligations (2)1,721 7,102 6,296 4,984 4,335 9,405 33,843 
Other commitments (3)(4)1,191 2,485 1,586 1,006 1,063 9,716 17,047 
Total commitments$9,406 $29,303 $29,550 $23,239 $20,512 $163,812 $275,822 
___________________
(1)Includes non-cancellable financing obligations for fulfillment, sortation, and data center facilities. Excluding interest, current financing obligations of $196 million and $254 million are recorded within “Accrued expenses and other” and $6.2 billion and $6.7 billion are recorded within “Other long-term liabilities” as of December 31, 2021 and September 30, 2022. The weighted-average remaining term of the financing obligations was 18.8 years and 18.2 years and the weighted-average imputed interest rate was 3.2% as of December 31, 2021 and September 30, 2022.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content that are not reflected on the consolidated balance sheets and certain products offered in our Whole Foods Market stores. For those digital media content 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.
(3)Includes asset retirement obligations, the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction, and liabilities associated with digital media content agreements with initial terms greater than one year.
(4)Excludes approximately $3.4 billion of accrued tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
v3.22.2.2
Debt (Tables)
 9 Months Ended
Sep. 30, 2022
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, 2021September 30, 2022
2012 Notes issuance of $3.0 billion
20222.50%2.66%1,250 1,250 
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
2023 - 2057
2.40% - 5.20%
2.56% - 4.33%
16,000 16,000 
2020 Notes issuance of $10.0 billion
2023 - 2060
0.40% - 2.70%
0.56% - 2.77%
10,000 10,000 
2021 Notes issuance of $18.5 billion
2023 - 2061
0.25% - 3.25%
0.35% - 3.31%
18,500 18,500 
2022 Notes Issuance of $12.8 billion
2024 - 2062
2.73% - 4.10%
2.83% - 4.15%
— 12,750 
Credit Facility803 1,041 
Total face value of long-term debt50,553 63,541 
Unamortized discount and issuance costs, net(318)(375)
Less: current portion of long-term debt(1,491)(4,247)
Long-term debt$48,744 $58,919 
___________________
(1) The weighted-average remaining lives of the 2012, 2014, 2017, 2020, 2021, and 2022 Notes were 0.2, 12.8, 14.5, 17.0, 13.6, and 13.5 years as of September 30, 2022. The combined weighted-average remaining life of the Notes was 14.0 years as of September 30, 2022.
v3.22.2.2
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2022
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,
2021202220212022
Cost of sales$126 $190 $361 $549 
Fulfillment473 727 1,381 1,988 
Technology and content1,627 3,036 4,742 7,495 
Sales and marketing657 1,128 1,804 2,783 
General and administrative297 475 789 1,200 
Total stock-based compensation expense$3,180 $5,556 $9,077 $14,015 
Restricted Stock Unit Activity
The following table summarizes our restricted stock unit activity for the nine months ended September 30, 2022 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2021279.9 $134 
Units granted224.1 150 
Units vested(69.1)109 
Units forfeited(35.6)143 
Outstanding as of September 30, 2022399.3 147 
Scheduled Vesting for Outstanding Restricted Stock Units
Scheduled vesting for outstanding restricted stock units as of September 30, 2022, is as follows (in millions):
 Three Months Ended December 31,Year Ended December 31,  
 20222023202420252026ThereafterTotal
Scheduled vesting — restricted stock units44.0 137.2 133.0 56.5 24.7 3.9 399.3 
Changes in Stockholders' Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202220212022
Total beginning stockholders’ equity$114,803 $131,402 $93,404 $138,245 
Beginning common stock106 107 105 106 
Stock-based compensation and issuance of employee benefit plan stock— — 1 1 
Ending common stock106 107 106 107 
Beginning treasury stock(1,837)(7,837)(1,837)(1,837)
Common stock repurchased— — — (6,000)
Ending treasury stock(1,837)(7,837)(1,837)(7,837)
Beginning additional paid-in capital48,623 63,871 42,765 55,437 
Stock-based compensation and issuance of employee benefit plan stock3,155 5,548 9,013 13,982 
Ending additional paid-in capital51,778 69,419 51,778 69,419 
Beginning accumulated other comprehensive income (loss)(525)(4,782)(180)(1,376)
Other comprehensive income (loss)(550)(2,333)(895)(5,739)
Ending accumulated other comprehensive income (loss)(1,075)(7,115)(1,075)(7,115)
Beginning retained earnings68,436 80,043 52,551 85,915 
Net income (loss)3,156 2,872 19,041 (3,000)
Ending retained earnings71,592 82,915 71,592 82,915 
Total ending stockholders’ equity$120,564 $137,489 $120,564 $137,489 
v3.22.2.2
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Information on Reportable Segments and Reconciliation to Consolidated Net Income
Information on reportable segments and reconciliation to consolidated net income (loss) is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202220212022
North America
Net sales$65,557 $78,843 $197,473 $222,517 
Operating expenses64,677 79,255 189,996 225,124 
Operating income (loss)$880 $(412)$7,477 $(2,607)
International
Net sales$29,145 $27,720 $90,515 $83,544 
Operating expenses30,056 30,186 89,812 89,062 
Operating income (loss)$(911)$(2,466)$703 $(5,518)
AWS
Net sales$16,110 $20,538 $44,422 $58,718 
Operating expenses11,227 15,135 31,183 41,082 
Operating income$4,883 $5,403 $13,239 $17,636 
Consolidated
Net sales$110,812 $127,101 $332,410 $364,779 
Operating expenses105,960 124,576 310,991 355,268 
Operating income4,852 2,525 21,419 9,511 
Total non-operating income (expense)(537)419 1,798 (14,485)
Benefit (provision) for income taxes(1,155)(69)(4,179)1,990 
Equity-method investment activity, net of tax(4)(3)3 (16)
Net income (loss)$3,156 $2,872 $19,041 $(3,000)
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,
2021202220212022
Net Sales:
Online stores (1)$49,942 $53,489 $156,000 $155,473 
Physical stores (2)4,269 4,694 12,387 14,006 
Third-party seller services (3)24,252 28,666 73,046 81,377 
Subscription services (4)8,148 8,903 23,645 26,029 
Advertising services (5)7,612 9,548 21,444 26,182 
AWS16,110 20,538 44,422 58,718 
Other (6)479 1,263 1,466 2,994 
Consolidated$110,812 $127,101 $332,410 $364,779 
____________________________
(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 product 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 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.
(5)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(6)Includes sales related to various other offerings, such as certain licensing and distribution of video content and shipping services, and our co-branded credit card agreements.
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Common Stock Split (Details)
May 27, 2022
$ / shares
Sep. 30, 2022
$ / shares
Dec. 31, 2021
$ / shares
Accounting Policies [Abstract]      
Stock split ratio 20    
Common stock, par value (in usd per share) $ 0.01 $ 0.01 $ 0.01
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Use of Estimates (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Jan. 01, 2022
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Dec. 31, 2021
Sep. 30, 2021
Property, Plant and Equipment [Line Items]                
Depreciation and amortization   $ 10,204 $ 8,948 $ 28,776 $ 24,494 $ 38,578   $ 32,112
Net income (loss)   $ 2,872 $ 3,156 $ (3,000) $ 19,041 $ 11,323   $ 26,263
Basic earnings (loss) per share (in usd per share)   $ 0.28 $ 0.31 $ (0.29) $ 1.88      
Diluted earnings (loss) per share (in usd per share)   $ 0.28 $ 0.31 $ (0.29) $ 1.85      
Change in useful lives of servers and networking equipment                
Property, Plant and Equipment [Line Items]                
Depreciation and amortization   $ (882)   $ (2,800)        
Net income (loss)   $ 665   $ 2,200        
Basic earnings (loss) per share (in usd per share)   $ 0.07   $ 0.21        
Diluted earnings (loss) per share (in usd per share)   $ 0.06   $ 0.21        
Servers                
Property, Plant and Equipment [Line Items]                
Estimated useful lives of assets             4 years  
Servers | Change in useful lives of servers and networking equipment                
Property, Plant and Equipment [Line Items]                
Estimated useful lives of assets 5 years              
Networking equipment                
Property, Plant and Equipment [Line Items]                
Estimated useful lives of assets             5 years  
Networking equipment | Change in useful lives of servers and networking equipment                
Property, Plant and Equipment [Line Items]                
Estimated useful lives of assets 6 years              
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Accounting Policies [Abstract]            
Cash paid for interest on debt $ 304 $ 276 $ 932 $ 731 $ 1,299 $ 933
Cash paid for operating leases 1,813 1,812 6,268 5,029 7,961 6,230
Cash paid for interest on finance leases 88 121 290 407 404 535
Cash paid for interest on financing obligations 39 48 152 116 189 147
Cash paid for income taxes, net of refunds 742 750 4,340 3,354 4,674 3,774
Assets acquired under operating leases 6,755 10,447 14,031 19,561 19,839 23,908
Property and equipment acquired under finance leases, net of remeasurements and modifications 131 1,744 358 5,453 1,966 8,149
Property and equipment recognized during the construction period of build-to-suit lease arrangements 526 1,797 2,877 3,877 4,847 4,916
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating $ 2,195 $ 76 $ 3,307 $ 174 $ 3,363 $ 174
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Calculation of Diluted Shares (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Accounting Policies [Abstract]        
Shares used in computation of basic earnings per share (in shares) 10,191 10,132 10,178 10,103
Total dilutive effect of outstanding stock awards (in shares) 140 177 0 184
Shares used in computation of diluted earnings per share (in shares) 10,331 10,309 10,178 10,287
v3.22.2.2
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, 2022
Sep. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Accounting Policies [Abstract]                
Marketable equity securities valuation gains (losses) $ 1,039 $ (129)     $ (11,528) $ (48)    
Equity warrant valuation gains (losses) (170) (50)     (1,606) 1,194    
Upward adjustments relating to equity investments in private companies 11 155     76 1,661    
Foreign currency gains (losses) (103) (107)     (206) (28)    
Other, net (18) (32)     (92) 16    
Total other income (expense), net 759 (163)     (13,356) 2,795    
Schedule of Investments [Line Items]                
Marketable equity securities valuation gains (losses) 1,039 (129)     (11,528) (48)    
Loss from operations 2,525 4,852     9,511 21,419    
Net loss 2,872 $ 3,156     (3,000) $ 19,041 $ 11,323 $ 26,263
Equity Method Investment, Nonconsolidated Investee or Group of Investees                
Accounting Policies [Abstract]                
Marketable equity securities valuation gains (losses) 1,100       (10,400)      
Schedule of Investments [Line Items]                
Marketable equity securities valuation gains (losses) $ 1,100       $ (10,400)      
Equity investment, shares held (in shares) 158       158   158  
Equity investment, ownership percentage 17.00%       17.00%   17.00%  
Equity investment, voting interest 16.00%       16.00%   16.00%  
Revenues     $ 459 $ 0        
Gross profit     (1,206) 0        
Loss from operations     (3,287) (990)        
Net loss     $ (3,305) $ (994)        
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Inventories (Details) - USD ($)
$ in Billions
Sep. 30, 2022
Dec. 31, 2021
Accounting Policies [Abstract]    
Inventory valuation allowance $ 2.3 $ 2.6
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Accounts Receivable, Net and Other (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other $ 36,154 $ 32,891
Allowance for doubtful accounts 1,300 1,100
Customer receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other 22,800 20,200
Vendor receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other 4,900 5,300
Seller receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other $ 1,400 $ 1,000
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Video and Music Content (Details) - USD ($)
$ in Billions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Accounting Policies [Abstract]          
Digital video and music content, capitalized costs $ 16.3   $ 16.3   $ 10.7
Digital video and music content, expense $ 4.2 $ 3.3 $ 11.4 $ 9.4  
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Unearned Revenue (Details) - USD ($)
$ in Billions
 9 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Accounting Policies [Abstract]    
Unearned revenue   $ 14.0
Unearned revenue, revenue recognized $ 10.1  
Unearned revenue, long-term 2.7 $ 2.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01    
Accounting Policies [Abstract]    
Remaining performance obligation, contracts exceeding one year $ 104.3  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Remaining performance obligation, weighted average remaining life 3 years 9 months 18 days  
v3.22.2.2
Accounting Policies and Supplemental Disclosures - Acquisition Activity (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 17, 2022
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Business Acquisition [Line Items]                
Cash consideration   $ 885 $ 654 $ 7,485 $ 1,604 $ 7,866 $ 1,985  
Goodwill   $ 20,168   $ 20,168   $ 20,168   $ 15,371
MGM Holdings Inc.                
Business Acquisition [Line Items]                
Cash consideration $ 6,100              
Debt assumed 2,500              
Video content acquired 3,400              
Goodwill $ 4,900              
v3.22.2.2
Financial Instruments - Fair Values on Recurring Basis (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Equity Securities, FV-NI, Gain (Loss)          
Equity securities, unrealized gain (loss) $ 1,000 $ (116) $ (11,300) $ 6  
Rivian          
Equity Securities, FV-NI, Gain (Loss)          
Equity investment, fair value 5,200   5,200   $ 15,600
Equity investment, discount due to lack of marketability         800
Recurring          
Schedule of Investments [Line Items]          
Cash 10,720   10,720   10,942
Debt Securities, Available-for-sale          
Gross unrealized gains 0   0    
Gross unrealized losses (1,183)   (1,183)    
Cash, Cash Equivalents, and Marketable Securities          
Cash, cash equivalents and marketable securities 58,893   58,893   96,309
Cash, cash equivalents and marketable securities, amortized cost 54,069   54,069    
Less: Restricted cash, cash equivalents, and marketable securities (231)   (231)   (260)
Total cash, cash equivalents, and marketable securities 58,662   58,662   96,049
Recurring | Level 1 securities          
Schedule of Investments [Line Items]          
Equity securities 5,988   5,988   1,646
Recurring | Level 1 securities | Money market funds          
Schedule of Investments [Line Items]          
Money market funds 16,697   16,697   20,312
Recurring | Level 1 securities | Money market funds | Money market funds          
Schedule of Investments [Line Items]          
Money market funds 16,697   16,697    
Recurring | Level 2 securities          
Schedule of Investments [Line Items]          
Equity securities 19   19   15,740
Recurring | Level 2 securities | Foreign government and agency securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 141   141    
Gross unrealized gains 0   0    
Gross unrealized losses (2)   (2)    
Fixed income securities 139   139   181
Recurring | Level 2 securities | U.S. government and agency securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 2,301   2,301    
Gross unrealized gains 0   0    
Gross unrealized losses (169)   (169)    
Fixed income securities 2,132   2,132   4,300
Recurring | Level 2 securities | Corporate debt securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 20,229   20,229    
Gross unrealized gains 0   0    
Gross unrealized losses (799)   (799)    
Fixed income securities 19,430   19,430   35,764
Recurring | Level 2 securities | Asset-backed securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 3,578   3,578    
Gross unrealized gains 0   0    
Gross unrealized losses (191)   (191)    
Fixed income securities 3,387   3,387   6,738
Recurring | Level 2 securities | Other fixed income securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 403   403    
Gross unrealized gains 0   0    
Gross unrealized losses (22)   (22)    
Fixed income securities $ 381   $ 381   $ 686
v3.22.2.2
Financial Instruments - Contractual Maturities (Details)
$ in Millions
Sep. 30, 2022
USD ($)
Amortized Cost  
Due within one year $ 26,797
Due after one year through five years 13,757
Due after five years through ten years 772
Due after ten years 2,023
Amortized cost 43,349
Estimated Fair Value  
Due within one year 26,738
Due after one year through five years 12,807
Due after five years through ten years 728
Due after ten years 1,893
Estimated fair value $ 42,166
v3.22.2.2
Financial Instruments - Equity Warrants and Non-Marketable Equity Investments (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Derivative [Line Items]    
Equity investments without readily determinable fair values $ 831 $ 603
Warrant | Level 2 assets    
Derivative [Line Items]    
Fair value of warrant assets $ 2,500 $ 3,400
v3.22.2.2
Financial Instruments - Consolidated Statements of Cash Flows Reconciliation (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Jun. 30, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]              
Cash and cash equivalents $ 34,947   $ 36,220        
Restricted cash included in accounts receivable, net and other 224   242        
Restricted cash included in other assets 7   15        
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 35,178 $ 37,700 $ 36,477 $ 30,177 $ 40,667 $ 42,377 $ 30,202
v3.22.2.2
Leases - Additional Information (Details) - USD ($)
$ in Billions
Sep. 30, 2022
Dec. 31, 2021
Leases [Abstract]    
Gross assets acquired under finance leases, location Property and equipment, net Property and equipment, net
Gross assets acquired under finance leases $ 66.6 $ 72.2
Accumulated amortization associated with finance leases $ 43.4 $ 43.4
v3.22.2.2
Leases - Lease Cost (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Leases [Abstract]        
Operating lease cost $ 2,236 $ 1,911 $ 6,472 $ 5,129
Finance lease cost:        
Amortization of lease assets 1,496 2,497 4,586 7,442
Interest on lease liabilities 85 114 280 365
Finance lease cost 1,581 2,611 4,866 7,807
Variable lease cost 462 372 1,402 1,135
Total lease cost $ 4,279 $ 4,894 $ 12,740 $ 14,071
v3.22.2.2
Leases - Other Operating and Finance Lease Information (Details)
Sep. 30, 2022
Dec. 31, 2021
Leases [Abstract]    
Weighted-average remaining lease term – operating leases 11 years 4 months 24 days 11 years 3 months 18 days
Weighted-average remaining lease term – finance leases 9 years 9 months 18 days 8 years 1 month 6 days
Weighted-average discount rate – operating leases 2.60% 2.20%
Weighted-average discount rate – finance leases 2.30% 2.00%
v3.22.2.2
Leases - Operating and Finance Lease Liability Reconciliation (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Leases [Abstract]    
Total operating lease liabilities $ 75,495 $ 66,269
Total finance lease liabilities 18,838 25,866
Gross lease liabilities 94,333 92,135
Imputed interest - operating leases (10,712) (7,939)
Imputed interest - finance leases (2,207) (2,113)
Imputed interest (12,919) (10,052)
Present value of operating leases 64,783 58,330
Present value of finance leases 16,631 23,753
Present value of lease liabilities $ 81,414 $ 82,083
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 $ (7,046) $ (6,349)
Current portion of finance lease liabilities (5,036) (8,083)
Current portion of lease liabilities $ (12,082) $ (14,432)
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 $ 57,737 $ 51,981
Total long-term finance lease liabilities 11,595 15,670
Total long-term lease liabilities $ 69,332 $ 67,651
v3.22.2.2
Commitments and Contingencies - Commitments (Details)
€ in Millions, $ in Millions
 1 Months Ended
Sep. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Aug. 31, 2022
USD ($)
Jul. 31, 2022
USD ($)
Dec. 31, 2021
EUR (€)
Long-term debt principal and interest          
2022 $ 1,886        
2023 4,789        
2024 8,993        
2025 5,995        
2026 4,563        
Thereafter 67,529        
Total 93,755        
Operating lease liabilities          
2022 2,664        
2023 8,380        
2024 7,918        
2025 7,327        
2026 6,747        
Thereafter 42,459        
Total operating lease liabilities 75,495 $ 66,269      
Finance lease liabilities, including interest          
2022 1,616        
2023 4,523        
2024 2,137        
2025 1,345        
2026 1,188        
Thereafter 8,029        
Total finance lease liabilities 18,838 25,866      
Financing obligations, including interest          
2022 115        
2023 462        
2024 462        
2025 456        
2026 463        
Thereafter 7,177        
Total 9,135        
Leases not yet commenced          
2022 213        
2023 1,562        
2024 2,158        
2025 2,126        
2026 2,153        
Thereafter 19,497        
Total 27,709        
Unconditional purchase obligations          
2022 1,721        
2023 7,102        
2024 6,296        
2025 4,984        
2026 4,335        
Thereafter 9,405        
Total 33,843        
Other commitments          
2022 1,191        
2023 2,485        
2024 1,586        
2025 1,006        
2026 1,063        
Thereafter 9,716        
Total 17,047        
Total commitments          
2022 9,406        
2023 29,303        
2024 29,550        
2025 23,239        
2026 20,512        
Thereafter 163,812        
Total 275,822        
Financing obligations, current 254 196      
Financing obligations, noncurrent $ 6,700 $ 6,200      
Financing obligations, weighted-average remaining term 18 years 2 months 12 days 18 years 9 months 18 days      
Financing obligations, weighted-average imputed interest rate 3.20% 3.20%      
Accrued tax contingencies $ 3,400 $ 3,200      
Italian Competition Authority Matter          
Loss Contingencies [Line Items]          
Fine imposed | €         € 1,130
1Life Healthcare          
Business Acquisition [Line Items]          
Acquisition price       $ 3,900  
iRobot Corporation          
Business Acquisition [Line Items]          
Acquisition price     $ 1,700    
v3.22.2.2
Commitments and Contingencies - Legal Proceedings (Details) - BroadbandiTV
$ in Millions
Apr. 30, 2022
USD ($)
Minimum  
Loss Contingencies [Line Items]  
Estimate of possible loss $ 166
Maximum  
Loss Contingencies [Line Items]  
Estimate of possible loss $ 986
v3.22.2.2
Debt - Additional Information (Details)
 9 Months Ended
Sep. 30, 2022
USD ($)
extension
Jul. 31, 2022
USD ($)
Apr. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Mar. 31, 2022
EUR (€)
Feb. 28, 2022
USD ($)
Dec. 31, 2021
USD ($)
Debt Instrument [Line Items]              
Total face value of long-term debt $ 63,541,000,000           $ 50,553,000,000
Short-term credit facilities, borrowings outstanding $ 1,100,000,000           318,000,000
Commercial Paper              
Debt Instrument [Line Items]              
Commercial paper, maximum borrowing capacity       $ 20,000,000,000 € 3,000,000,000 $ 10,000,000,000  
Commercial paper, term (will not exceed) 397 days            
Commercial paper $ 11,700,000,000           $ 725,000,000
Commercial paper, weighted average effective interest rate 2.54%           0.08%
Senior Notes              
Debt Instrument [Line Items]              
Total face value of long-term debt $ 62,500,000,000            
Estimated fair value of notes 53,700,000,000           $ 53,300,000,000
Issuance amount     $ 12,800,000,000        
Credit Facility | Revolving Credit Facility              
Debt Instrument [Line Items]              
Total face value of long-term debt 1,041,000,000           803,000,000
Credit Facility | Revolving Credit Facility | October 2016 Revolving Credit Facility              
Debt Instrument [Line Items]              
Revolving credit facility maximum borrowing capacity $ 1,500,000,000 $ 1,000,000,000          
Commitment fee percentage 0.45%            
Borrowings outstanding $ 1,000,000,000           $ 803,000,000
Weighted average interest rate 2.70%           2.70%
Collateral amount $ 1,200,000,000           $ 918,000,000
Credit Facility | Revolving Credit Facility | October 2016 Revolving Credit Facility | Secured Overnight Financing Rate              
Debt Instrument [Line Items]              
Basis spread on variable rate (as a percent) 1.25%            
Credit Facility | Revolving Credit Facility | April 2018 Revolving Credit Facility              
Debt Instrument [Line Items]              
Revolving credit facility maximum borrowing capacity       $ 10,000,000,000   $ 7,000,000,000  
Commitment fee percentage 0.03%            
Borrowings outstanding $ 0           $ 0
Number of term extensions | extension 3            
Additional term 1 year            
Credit Facility | Revolving Credit Facility | April 2018 Revolving Credit Facility | Applicable benchmark rate              
Debt Instrument [Line Items]              
Basis spread on variable rate (as a percent) 0.45%            
Credit Facility | Letter of Credit | April 2018 Revolving Credit Facility              
Debt Instrument [Line Items]              
Unused letters of credit $ 10,000,000,000            
v3.22.2.2
Debt - Long-Term Debt Obligations (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2022
Apr. 30, 2022
Dec. 31, 2021
Debt Instrument [Line Items]      
Face value of long-term debt $ 63,541   $ 50,553
Less: current portion of long-term debt (4,247)   (1,491)
Long-term debt 58,919   48,744
Senior Notes      
Debt Instrument [Line Items]      
Issuance amount   $ 12,800  
Face value of long-term debt 62,500    
Unamortized discount and issuance costs, net $ (375)   (318)
Weighted average remaining lives term 14 years    
Senior Notes | 2012 Notes issuance of $3.0 billion      
Debt Instrument [Line Items]      
Issuance amount $ 3,000    
Stated Interest Rates 2.50%    
Effective Interest Rates 2.66%    
Face value of long-term debt $ 1,250   1,250
Weighted average remaining lives term 2 months 12 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 12 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 $ 16,000   16,000
Weighted average remaining lives term 14 years 6 months    
Senior Notes | 2017 Notes issuance of $17.0 billion | Minimum      
Debt Instrument [Line Items]      
Stated Interest Rates 2.40%    
Effective Interest Rates 2.56%    
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 $ 10,000   10,000
Weighted average remaining lives term 17 years    
Senior Notes | 2020 Notes issuance of $10.0 billion | Minimum      
Debt Instrument [Line Items]      
Stated Interest Rates 0.40%    
Effective Interest Rates 0.56%    
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 $ 18,500   18,500
Weighted average remaining lives term 13 years 7 months 6 days    
Senior Notes | 2021 Notes issuance of $18.5 billion | Minimum      
Debt Instrument [Line Items]      
Stated Interest Rates 0.25%    
Effective Interest Rates 0.35%    
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 | 2022 Notes Issuance of $12.8 billion      
Debt Instrument [Line Items]      
Issuance amount $ 12,800    
Face value of long-term debt $ 12,750   0
Weighted average remaining lives term 13 years 6 months    
Senior Notes | 2022 Notes Issuance of $12.8 billion | Minimum      
Debt Instrument [Line Items]      
Stated Interest Rates 2.73%    
Effective Interest Rates 2.83%    
Senior Notes | 2022 Notes Issuance of $12.8 billion | Maximum      
Debt Instrument [Line Items]      
Stated Interest Rates 4.10%    
Effective Interest Rates 4.15%    
Credit Facility | Revolving Credit Facility      
Debt Instrument [Line Items]      
Face value of long-term debt $ 1,041   $ 803
v3.22.2.2
Stockholders' Equity - Additional Information (Details) - USD ($)
shares in Millions
 9 Months Ended
Sep. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Feb. 29, 2016
Class of Stock [Line Items]        
Stock repurchases (in shares) 46.2      
Stock repurchases $ 6,000,000,000      
Stock repurchase, remaining authorized amount $ 6,100,000,000      
Common shares outstanding plus underlying outstanding stock awards (in shares) 10,600.0   10,500.0  
Net unrecognized compensation cost related to unvested stock-based compensation arrangements $ 26,900,000,000      
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 1 month 6 days      
Estimated forfeiture rate 26.00%   27.00%  
February 2016 Program        
Class of Stock [Line Items]        
Stock repurchase, authorized amount       $ 5,000,000,000
March 2022 Program        
Class of Stock [Line Items]        
Stock repurchase, authorized amount   $ 10,000,000,000    
v3.22.2.2
Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense $ 5,556 $ 3,180 $ 14,015 $ 9,077
Cost of sales        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 190 126 549 361
Fulfillment        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 727 473 1,988 1,381
Technology and content        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 3,036 1,627 7,495 4,742
Sales and marketing        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 1,128 657 2,783 1,804
General and administrative        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense $ 475 $ 297 $ 1,200 $ 789
v3.22.2.2
Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units
shares in Millions
 9 Months Ended
Sep. 30, 2022
$ / shares
shares
Number of Units  
Beginning balance (in shares) | shares 279.9
Units granted (in shares) | shares 224.1
Units vested (in shares) | shares (69.1)
Units forfeited (in shares) | shares (35.6)
Ending balance (in shares) | shares 399.3
Weighted-Average Grant-Date Fair Value  
Beginning balance (in usd per share) | $ / shares $ 134
Units granted (in usd per share) | $ / shares 150
Units vested (in usd per share) | $ / shares 109
Units forfeited (in usd per share) | $ / shares 143
Ending balance (in usd per share) | $ / shares $ 147
v3.22.2.2
Stockholders' Equity - Scheduled Vesting for Outstanding Restricted Stock Units (Details) - Restricted Stock Units - shares
shares in Millions
Sep. 30, 2022
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
2022 (in shares) 44.0  
2023 (in shares) 137.2  
2024 (in shares) 133.0  
2025 (in shares) 56.5  
2026 (in shares) 24.7  
Thereafter (in shares) 3.9  
Total (in shares) 399.3 279.9
v3.22.2.2
Stockholders' Equity - Changes in Stockholders Equity (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Changes in Stockholders' Equity                
Beginning balance $ 131,402 $ 114,803 $ 138,245 $ 93,404 $ 138,245 $ 93,404 $ 120,564  
Common stock repurchased         (6,000)      
Other comprehensive income (loss) (2,333) (550)     (5,739) (895)    
Net income (loss) 2,872 3,156     (3,000) 19,041 11,323 $ 26,263
Ending balance 137,489 120,564 131,402 114,803 137,489 120,564 137,489 120,564
Common stock                
Changes in Stockholders' Equity                
Beginning balance 107 106 106 105 106 105 106  
Stock-based compensation and issuance of employee benefit plan stock 0 0     1 1    
Ending balance 107 106 107 106 107 106 107 106
Treasury stock                
Changes in Stockholders' Equity                
Beginning balance (7,837) (1,837) (1,837) (1,837) (1,837) (1,837) (1,837)  
Common stock repurchased 0 0     (6,000) 0    
Ending balance (7,837) (1,837) (7,837) (1,837) (7,837) (1,837) (7,837) (1,837)
Additional paid-in capital                
Changes in Stockholders' Equity                
Beginning balance 63,871 48,623 55,437 42,765 55,437 42,765 51,778  
Stock-based compensation and issuance of employee benefit plan stock 5,548 3,155     13,982 9,013    
Ending balance 69,419 51,778 63,871 48,623 69,419 51,778 69,419 51,778
Accumulated other comprehensive income (loss)                
Changes in Stockholders' Equity                
Beginning balance (4,782) (525) (1,376) (180) (1,376) (180) (1,075)  
Other comprehensive income (loss) (2,333) (550)     (5,739) (895)    
Ending balance (7,115) (1,075) (4,782) (525) (7,115) (1,075) (7,115) (1,075)
Retained earnings                
Changes in Stockholders' Equity                
Beginning balance 80,043 68,436 85,915 52,551 85,915 52,551 71,592  
Net income (loss) 2,872 3,156     (3,000) 19,041    
Ending balance $ 82,915 $ 71,592 $ 80,043 $ 68,436 $ 82,915 $ 71,592 $ 82,915 $ 71,592
v3.22.2.2
Income Taxes (Details)
€ in Millions, $ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Oct. 04, 2017
EUR (€)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Dec. 31, 2021
USD ($)
Income Tax Disclosure [Abstract]                
Provision (benefit) for income taxes   $ 69 $ 1,155 $ (1,990) $ 4,179      
Discrete tax benefits       3,300 1,700      
Cash paid for income taxes, net of refunds   742 $ 750 4,340 $ 3,354 $ 4,674 $ 3,774  
Tax contingencies   $ 3,400   $ 3,400   $ 3,400   $ 3,200
Luxembourg Tax Administration | Foreign Tax Authority                
Income Tax Examination [Line Items]                
Tax examination, estimate of additional tax expense | € € 250              
v3.22.2.2
Segment Information - Reportable Segments and Reconciliation to Consolidated Net Income (Details)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2022
USD ($)
segment
Sep. 30, 2021
USD ($)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Segment Reporting [Abstract]            
Number of operating segments | segment     3      
Segment Reporting Disclosure [Line Items]            
Net sales $ 127,101 $ 110,812 $ 364,779 $ 332,410    
Operating expenses 124,576 105,960 355,268 310,991    
Operating income 2,525 4,852 9,511 21,419    
Total non-operating income (expense) 419 (537) (14,485) 1,798    
Benefit (provision) for income taxes (69) (1,155) 1,990 (4,179)    
Equity-method investment activity, net of tax (3) (4) (16) 3    
Net income (loss) 2,872 3,156 (3,000) 19,041 $ 11,323 $ 26,263
North America            
Segment Reporting Disclosure [Line Items]            
Net sales 78,843 65,557 222,517 197,473    
Operating expenses 79,255 64,677 225,124 189,996    
Operating income (412) 880 (2,607) 7,477    
International            
Segment Reporting Disclosure [Line Items]            
Net sales 27,720 29,145 83,544 90,515    
Operating expenses 30,186 30,056 89,062 89,812    
Operating income (2,466) (911) (5,518) 703    
AWS            
Segment Reporting Disclosure [Line Items]            
Net sales 20,538 16,110 58,718 44,422    
Operating expenses 15,135 11,227 41,082 31,183    
Operating income $ 5,403 $ 4,883 $ 17,636 $ 13,239    
v3.22.2.2
Segment Information - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Disaggregation of Revenue [Line Items]        
Total net sales $ 127,101 $ 110,812 $ 364,779 $ 332,410
Online stores        
Disaggregation of Revenue [Line Items]        
Total net sales 53,489 49,942 155,473 156,000
Physical stores        
Disaggregation of Revenue [Line Items]        
Total net sales 4,694 4,269 14,006 12,387
Third-party seller services        
Disaggregation of Revenue [Line Items]        
Total net sales 28,666 24,252 81,377 73,046
Subscription services        
Disaggregation of Revenue [Line Items]        
Total net sales 8,903 8,148 26,029 23,645
Advertising services        
Disaggregation of Revenue [Line Items]        
Total net sales 9,548 7,612 26,182 21,444
AWS        
Disaggregation of Revenue [Line Items]        
Total net sales 20,538 16,110 58,718 44,422
Other        
Disaggregation of Revenue [Line Items]        
Total net sales $ 1,263 $ 479 $ 2,994 $ 1,466