Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	Apr. 22, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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		498,776,032
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001018724

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Statement of Cash Flows [Abstract]
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD	$ 36,410	$ 32,173	$ 23,507	$ 17,616
OPERATING ACTIVITIES:
Net income	2,535	3,561	10,563	12,005
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other	5,362	4,854	22,297	16,524
Stock-based compensation	1,757	1,274	7,347	5,509
Other operating expense (income), net	67	(13)	244	205
Other expense (income), net	565	(135)	451	268
Deferred income taxes	322	415	704	714
Changes in operating assets and liabilities:
Inventories	1,392	719	(2,605)	(2,815)
Accounts receivable, net and other	1,262	(401)	(6,018)	(6,043)
Accounts payable	(8,044)	(6,384)	6,532	7,095
Accrued expenses and other	(2,761)	(2,932)	(1,213)	(235)
Unearned revenue	607	888	1,430	1,133
Net cash provided by (used in) operating activities	3,064	1,846	39,732	34,360
INVESTING ACTIVITIES:
Purchases of property and equipment	(6,795)	(3,290)	(20,365)	(13,619)
Proceeds from property and equipment sales and incentives	1,367	569	4,970	2,303
Acquisitions, net of cash acquired, and other	(91)	(1,169)	(1,384)	(3,342)
Sales and maturities of marketable securities	11,626	2,643	31,664	8,205
Purchases of marketable securities	(15,001)	(6,876)	(39,938)	(13,506)
Net cash provided by (used in) investing activities	(8,894)	(8,123)	(25,053)	(19,959)
FINANCING ACTIVITIES:
Proceeds from long-term debt and other	693	190	2,776	833
Repayments of long-term debt and other	(667)	(351)	(3,000)	(817)
Principal repayments of finance leases	(2,600)	(2,214)	(10,013)	(7,649)
Principal repayments of financing obligations	(17)	(2)	(43)	(266)
Net cash provided by (used in) financing activities	(2,591)	(2,377)	(10,280)	(7,899)
Foreign currency effect on cash, cash equivalents, and restricted cash	(484)	(12)	(401)	(611)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(8,905)	(8,666)	3,998	5,891
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD	27,505	23,507	27,505	23,507
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on long-term debt	290	286	879	858
Cash paid for operating leases	1,029	709	3,680	709
Cash paid for interest on finance leases	168	165	650	471
Cash paid for interest on financing obligations	22	2	59	142
Cash paid for income taxes, net of refunds	305	168	1,017	840
Assets acquired under operating leases	2,408	875	9,403	875
Property and equipment acquired under finance leases	2,166	2,628	13,262	10,972
Property and equipment acquired under build-to-suit arrangements	$ 379	$ 436	$ 1,304	$ 3,336

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Total net sales	$ 75,452	$ 59,700
Operating expenses:
Cost of sales	44,257	33,920
Fulfillment	11,531	8,601
Marketing	4,828	3,664
Technology and content	9,325	7,927
General and administrative	1,452	1,173
Other operating expense (income), net	70	(5)
Total operating expenses	71,463	55,280
Operating income	3,989	4,420
Interest income	202	183
Interest expense	(402)	(366)
Other income (expense), net	(406)	164
Total non-operating income (expense)	(606)	(19)
Income before income taxes	3,383	4,401
Provision for income taxes	(744)	(836)
Equity-method investment activity, net of tax	(104)	(4)
Net income	$ 2,535	$ 3,561
Basic earnings per share	$ 5.09	$ 7.24
Diluted earnings per share	$ 5.01	$ 7.09
Weighted-average shares used in computation of earnings per share:
Basic (in shares)	498	491
Diluted (in shares)	506	502
Product [Member]
Total net sales	$ 41,841	$ 34,283
Service [Member]
Total net sales	$ 33,611	$ 25,417

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 2,535	$ 3,561
Net change in foreign currency translation adjustments:
Foreign currency translation adjustments, net of tax of $(1) and $21	(874)	(8)
Net change in unrealized gains (losses) on available-for-sale debt securities:
Unrealized gains (losses), net of tax of $0 and $12	(203)	32
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $0 and $0	0	1
Net unrealized gains (losses) on available-for-sale debt securities	(203)	33
Total other comprehensive income (loss)	(1,077)	25
Comprehensive income	$ 1,458	$ 3,586

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 21	$ (1)
Unrealized gains (losses), tax	12	0
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” tax	$ 0	$ 0

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 27,201	$ 36,092
Marketable securities	22,091	18,929
Inventories	18,857	20,497
Accounts receivable, net and other	17,836	20,816
Total current assets	85,985	96,334
Property and equipment, net	77,779	72,705
Operating leases	26,279	25,141
Goodwill	14,739	14,754
Other assets	16,456	16,314
Total assets	221,238	225,248
Current liabilities:
Accounts payable	40,056	47,183
Accrued expenses and other	30,791	32,439
Unearned revenue	8,864	8,190
Total current liabilities	79,711	87,812
Long-term lease liabilities	40,300	39,791
Long-term debt	23,437	23,414
Other long-term liabilities	12,518	12,171
Commitments and contingencies (Note 4)
Stockholders’ equity:
Preferred stock, $0.01 par value: Authorized shares - 500 Issued and outstanding shares - none	0	0
Common stock, $0.01 par value: Authorized shares - 5,000 Issued shares - 514 and 518 Outstanding shares - 491 and 494	5	5
Treasury stock, at cost	(1,837)	(1,837)
Additional paid-in capital	35,412	33,658
Accumulated other comprehensive income (loss)	(2,063)	(986)
Retained earnings	33,755	31,220
Total stockholders’ equity	65,272	62,060
Total liabilities and stockholders’ equity	$ 221,238	$ 225,248

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	500,000,000	500,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized shares	5,000,000,000	5,000,000,000
Common stock, issued shares	522,000,000	521,000,000
Common stock, outstanding shares	499,000,000	498,000,000

Accounting Policies

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Accounting Policies

ACCOUNTING POLICIES

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 2020 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 2019 Annual Report on Form 10-K.

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, and impairment of investments. Given the global economic climate and additional or unforeseen effects from the COVID-19 pandemic, these estimates are becoming more challenging, and actual results could differ materially from those estimates.

We review the useful lives of equipment on an ongoing basis, and effective January 1, 2020 we changed our estimate of the useful life for our servers from three to four years. The longer useful life is due to continuous improvements in our hardware, software, and data center designs. The effect of this change in estimate for Q1 2020, based on servers that were included in “Property and equipment, net” as of December 31, 2019 and those acquired during the quarter ended March 31, 2020, was a reduction in depreciation and amortization expense of $786 million and an increase in net income of $602 million, or $1.21 per basic share and $1.19 per diluted 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.

The following table shows the calculation of diluted shares (in millions):



	Three Months Ended March 31,
	2019	2020
Shares used in computation of basic earnings per share	491	498
Total dilutive effect of outstanding stock awards	11	8
Shares used in computation of diluted earnings per share	502	506

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 $1.6 billion as of December 31, 2019 and March 31, 2020.

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, 2019 and March 31, 2020, customer receivables, net, were $12.6 billion and $11.3 billion, vendor receivables, net, were $4.2 billion and $2.7 billion, and seller receivables, net, were $863 million and $801 million. 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 $718 million and $1.1 billion as of December 31, 2019 and March 31, 2020.

Digital Video and Music Content

The total capitalized costs of video, which is primarily released content, and music as of December 31, 2019 and March 31, 2020 were $5.8 billion and $6.1 billion. Total video and music expense was $1.7 billion and $2.4 billion in Q1 2019 and Q1 2020.

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, 2019 was $10.2 billion, of which $3.4 billion was recognized as revenue during the three months ended March 31, 2020. Included in “Other long-term liabilities” on our consolidated balance sheets was $2.0 billion and $1.8 billion of unearned revenue as of December 31, 2019 and March 31, 2020.

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 financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were $34.1 billion as of March 31, 2020. The weighted average remaining life of our long-term contracts is 3.3 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.

Financial Instruments

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTS

Cash, Cash Equivalents, Restricted Cash, and Marketable Securities

As of December 31, 2019 and March 31, 2020, 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, and other investment grade 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 cash, cash equivalents, restricted cash, or marketable securities categorized as Level 3 assets as of December 31, 2019 and March 31, 2020.

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, 2019			March 31, 2020
	Total Estimated Fair Value			Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Total Estimated Fair Value
Cash	$	9,776		$	8,363	$	—	$	—		$	8,363
Level 1 securities:
Money market funds	18,850			16,260		—		—			16,260
Equity securities (1)	202										174
Level 2 securities:
Foreign government and agency securities	4,794			3,467		—		(1		)	3,466
U.S. government and agency securities	7,080			4,295		51		(1		)	4,345
Corporate debt securities	11,881			13,957		41		(205		)	13,793
Asset-backed securities	2,360			2,868		3		(51		)	2,820
Other fixed income securities	394			375		2		(1		)	376
Equity securities (1)	5										2
	$	55,342		$	49,585	$	97	$	(259	)	$	49,599
Less: Restricted cash, cash equivalents, and marketable securities (2)	(321		)								(307		)
Total cash, cash equivalents, and marketable securities	$	55,021									$	49,292

___________________


(1)	The related unrealized gain (loss) recorded in “Other income (expense), net” was $68 million and $(31) million in Q1 2019 and Q1 2020.

(2)

We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable securities as collateral for real estate leases, amounts due to third-party sellers in certain jurisdictions, debt, and standby and trade letters of credit. We classify cash, cash equivalents, and marketable securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 4 — Commitments and Contingencies.”

The following table summarizes the remaining contractual maturities of our cash equivalents and marketable fixed income securities as of March 31, 2020 (in millions):



	Amortized Cost		Estimated Fair Value
Due within one year	$	26,936	$	26,935
Due after one year through five years	11,645		11,498
Due after five years through ten years	533		527
Due after ten years	2,108		2,100
Total	$	41,222	$	41,060

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, 2019 and March 31, 2020, these warrants had a fair value of $669 million and $528 million, and are recorded within “Other assets” on our consolidated balance sheets. These assets are primarily classified as Level 2 assets.

As of December 31, 2019 and March 31, 2020, equity investments not accounted for under the equity-method and without readily determinable fair values, had a carrying value of $1.5 billion, 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, 2019		March 31, 2020
Cash and cash equivalents	$	36,092	$	27,201
Restricted cash included in accounts receivable, net and other	276		282
Restricted cash included in other assets	42		22
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	36,410	$	27,505

Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

LEASES

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 $57.4 billion and $58.0 billion as of December 31, 2019 and March 31, 2020. Accumulated amortization associated with finance leases was $30.0 billion and $30.5 billion as of December 31, 2019 and March 31, 2020.

Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):



	Three Months Ended March 31,
	2019		2020
Operating lease cost	$	836	$	1,068
Finance lease cost:
Amortization of lease assets	2,307		1,894
Interest on lease liabilities	156		164
Finance lease cost	2,463		2,058
Variable lease cost	250		264
Total lease cost	$	3,549	$	3,390

Other information about lease amounts recognized in our consolidated financial statements is summarized as follows:



	December 31, 2019		March 31, 2020
Weighted-average remaining lease term – operating leases	11.5 years		11.4 years
Weighted-average remaining lease term – finance leases	5.5 years		5.6 years
Weighted-average discount rate – operating leases	3.1	%	3.0	%
Weighted-average discount rate – finance leases	2.7	%	2.6	%

Our lease liabilities were as follows (in millions):



	December 31, 2019
	Operating Leases			Finance Leases			Total
Gross lease liabilities	$	31,963		$	28,875		$	60,838
Less: imputed interest	(6,128		)	(1,896		)	(8,024		)
Present value of lease liabilities	25,835			26,979			52,814
Less: current portion of lease liabilities	(3,139		)	(9,884		)	(13,023		)
Total long-term lease liabilities	$	22,696		$	17,095		$	39,791



	March 31, 2020
	Operating Leases			Finance Leases			Total
Gross lease liabilities	$	33,654		$	28,147		$	61,801
Less: imputed interest	(6,570		)	(1,828		)	(8,398		)
Present value of lease liabilities	27,084			26,319			53,403
Less: current portion of lease liabilities	(3,279		)	(9,824		)	(13,103		)
Total long-term lease liabilities	$	23,805		$	16,495		$	40,300

Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Commitments

We have entered into non-cancellable operating and finance leases and financing obligations for equipment and office, fulfillment, sortation, delivery, data center, physical store, and renewable energy facilities.

The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of March 31, 2020 (in millions):



	Nine Months Ended December 31,		Year Ended December 31,
	2020		2021		2022		2023		2024		Thereafter		Total
Debt principal and interest	$	1,881	$	2,016	$	2,605	$	2,294	$	4,100	$	26,020	$	38,916
Operating lease liabilities	2,922		3,913		3,499		3,156		2,855		17,309		33,654
Finance lease liabilities, including interest	7,461		8,217		4,652		1,564		1,046		5,207		28,147
Financing obligations, including interest	108		145		148		150		152		2,451		3,154
Unconditional purchase obligations (1)	2,960		3,801		3,352		3,125		3,002		2,370		18,610
Other commitments (2) (3)	3,179		2,639		2,107		1,812		1,761		16,658		28,156
Total commitments	$	18,511	$	20,731	$	16,363	$	12,101	$	12,916	$	70,015	$	150,637

___________________

(1)

Includes unconditional purchase obligations related to certain products offered in our Whole Foods Market stores and long-term agreements to acquire and license digital media content that are not reflected on the consolidated balance sheets. 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.


(2)	Includes the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements and lease arrangements prior to the lease commencement date and digital media content liabilities associated with long-term digital media content assets with initial terms greater than one year.


(3)	Excludes approximately $3.8 billion of accrued tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.

Pledged Assets

As of December 31, 2019 and March 31, 2020, we have pledged or otherwise restricted $994 million and $984 million of our cash, cash equivalents, and marketable securities, and certain property and equipment as collateral for real estate leases, amounts due to third-party sellers in certain jurisdictions, debt, and standby and trade letters of credit. Additionally, we have pledged our cash and seller receivables for debt related to our Credit Facility. See “Note 5 — Debt.”

Other Contingencies

In 2016, we determined that we processed and delivered orders of consumer products for certain individuals and entities located outside Iran covered by the Iran Threat Reduction and Syria Human Rights Act or other United States sanctions and export control laws. The consumer products included books, music, other media, apparel, home and kitchen, health and beauty, jewelry, office, consumer electronics, software, lawn and patio, grocery, and automotive products. Our review is ongoing and we have voluntarily reported these orders to the United States Treasury Department’s Office of Foreign Assets Control and the United States Department of Commerce’s Bureau of Industry and Security. In March 2020, BIS notified us that it had completed and closed its review with the issuance of a Warning Letter. We intend to cooperate fully with OFAC with respect to its review, which may result in the imposition of penalties. For additional information, see Item 5 of Part II, “Other Information — Disclosure Pursuant to Section 13(r) of the Exchange Act.”

We are subject to claims related to various indirect taxes (such as sales, value added, consumption, service, and similar taxes), including in jurisdictions in which we already collect and remit such taxes. If the relevant taxing authorities were successfully to pursue these claims, we could be subject to significant additional tax liabilities. For example, in June 2017, the State of South Carolina issued an assessment for uncollected sales and use taxes for the period from January 2016 to March 2016, including interest and penalties. South Carolina is alleging that we should have collected sales and use taxes on transactions by our third-party sellers. In September 2019, the South Carolina Administrative Law Court ruled in favor of the Department of Revenue and we have appealed the decision to the state Court of Appeals. We believe the assessment is without merit and intend to defend ourselves vigorously in this matter. If other tax authorities were successfully to seek additional adjustments of a similar nature, we could be subject to significant additional tax liabilities.

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 2019 Annual Report on Form 10-K as supplemented by the following:

Beginning in March 2020, a number of class-action complaints were filed in the United States District Court for the Western District of Washington, the Superior Court of Quebec - Division of Montreal, and the Federal Court of Canada against Amazon.com, Inc. and related entities. The complaints allege, among other things, a price fixing arrangement between Amazon.com, Inc. and third-party sellers in Amazon’s stores, monopolization and attempted monopolization of an alleged online retail market or submarkets, and consumer protection and unjust enrichment claims. The complaints allege 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, and injunctive relief. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.

In addition, we are regularly subject to claims, litigation, and other proceedings, including potential regulatory proceedings, involving patent and other intellectual property matters, taxes, labor and employment, competition and antitrust, privacy and data protection, consumer protection, commercial disputes, goods and services offered by us and by third parties, and other matters.

The outcomes of our legal proceedings and other contingencies are inherently unpredictable, subject to significant uncertainties, and could be material to our operating results and cash flows for a particular period. We evaluate, on a regular basis, developments in our legal proceedings and other contingencies that could affect the amount of liability, including amounts in excess of any previous accruals and reasonably possible losses disclosed, and make adjustments and changes to our accruals and disclosures as appropriate. For the matters we disclose that do not include an estimate of the amount of loss or range of losses, such an estimate is not possible or is immaterial, and we may be unable to estimate the possible loss or range of losses that could potentially result from the application of non-monetary remedies. Until the final resolution of such matters, if any of our estimates and assumptions change or prove to have been incorrect, we may experience losses in excess of the amounts recorded, which could have a material effect on our business, consolidated financial position, results of operations, or cash flows.

See also “Note 7 — Income Taxes.”

Long-Term Debt

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

DEBT

As of March 31, 2020, we had $23.2 billion of unsecured senior notes outstanding (the “Notes”). As of December 31, 2019 and March 31, 2020, the net unamortized discount and debt issuance costs on the Notes was $101 million. We also have other long-term debt with a carrying amount, including the current portion and borrowings under our credit facility, of $1.6 billion as of December 31, 2019 and March 31, 2020. The face value of our total long-term debt obligations is as follows (in millions):



	December 31, 2019			March 31, 2020
1.900% Notes due on August 21, 2020 (3)	1,000			1,000
3.300% Notes due on December 5, 2021 (2)	1,000			1,000
2.500% Notes due on November 29, 2022 (1)	1,250			1,250
2.400% Notes due on February 22, 2023 (3)	1,000			1,000
2.800% Notes due on August 22, 2024 (3)	2,000			2,000
3.800% Notes due on December 5, 2024 (2)	1,250			1,250
5.200% Notes due on December 3, 2025 (4)	1,000			1,000
3.150% Notes due on August 22, 2027 (3)	3,500			3,500
4.800% Notes due on December 5, 2034 (2)	1,250			1,250
3.875% Notes due on August 22, 2037 (3)	2,750			2,750
4.950% Notes due on December 5, 2044 (2)	1,500			1,500
4.050% Notes due on August 22, 2047 (3)	3,500			3,500
4.250% Notes due on August 22, 2057 (3)	2,250			2,250
Credit Facility	740			740
Other long-term debt	830			859
Total debt	24,820			24,849
Less current portion of long-term debt	(1,307		)	(1,311		)
Face value of long-term debt	$	23,513		$	23,538

_____________________________


(1)	Issued in November 2012, effective interest rate of the 2022 Notes was 2.66%.


(2)	Issued in December 2014, effective interest rates of the 2021, 2024, 2034, and 2044 Notes were 3.43%, 3.90%, 4.92%, and 5.11%.


(3)	Issued in August 2017, effective interest rates of the 2020, 2023, 2024, 2027, 2037, 2047, and 2057 Notes were 2.16%, 2.56%, 2.95%, 3.25%, 3.94%, 4.13%, and 4.33%.


(4)	Consists of $872 million of 2025 Notes issued in December 2017 in exchange for notes assumed in connection with the acquisition of Whole Foods Market and $128 million of 2025 Notes issued by Whole Foods Market that did not participate in our December 2017 exchange offer. The effective interest rate of the 2025 Notes was 3.02%.

Interest on the Notes issued in 2012 is payable semi-annually in arrears in May and November. Interest on the Notes issued in 2014 is payable semi-annually in arrears in June and December. Interest on the Notes issued in 2017 is payable semi-annually in arrears in February and August. Interest on the 2025 Notes is payable semi-annually in arrears in June and December. 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 proceeds from the November 2012 and the December 2014 Notes were used for general corporate purposes. The proceeds from the August 2017 Notes were used to fund the consideration for the acquisition of Whole Foods Market, to repay notes due in 2017, and for general corporate purposes. The estimated fair value of the Notes was approximately $26.2 billion and $27.5 billion as of December 31, 2019 and March 31, 2020, which is based on quoted prices for our debt as of those dates.

In October 2016, we entered into a $500 million secured revolving credit facility with a lender that is secured by certain seller receivables, which we subsequently increased to $740 million and may from time to time increase in the future subject to lender approval (the “Credit Facility”). The Credit Facility is available until October 2022, bears interest at the London interbank offered rate (“LIBOR”) plus 1.40%, and has a commitment fee of 0.50% on the undrawn portion. There were $740 million of borrowings outstanding under the Credit Facility as of December 31, 2019 and March 31, 2020, which had a weighted-average interest rate of 3.4% and 3.3% as of December 31, 2019 and March 31, 2020. As of December 31, 2019 and

March 31, 2020, we have pledged $852 million and $848 million of our cash and seller receivables as collateral for debt related to our Credit Facility. The estimated fair value of the Credit Facility, which is based on Level 2 inputs, approximated its carrying value as of December 31, 2019 and March 31, 2020.

Other long-term debt, including the current portion, had a weighted-average interest rate of 4.1% and 3.9% as of December 31, 2019 and March 31, 2020. We used the net proceeds from the issuance of this debt primarily to fund certain business operations. The estimated fair value of other long-term debt, which is based on Level 2 inputs, approximated its carrying value as of December 31, 2019 and March 31, 2020.

In April 2018, we established a commercial paper program (the “Commercial Paper Program”) under which we may from time to time issue unsecured commercial paper up to a total of $7.0 billion at any time, with individual maturities that may vary but will not exceed 397 days from the date of issue. There were no borrowings outstanding under the Commercial Paper Program as of December 31, 2019 and March 31, 2020. In April 2020, we issued $1.1 billion under the Commercial Paper Program.

In April 2018, in connection with our Commercial Paper Program, we amended and restated our unsecured revolving credit facility (the “Credit Agreement”) with a syndicate of lenders to increase our borrowing capacity thereunder to $7.0 billion. As amended and restated, the Credit Agreement has a term of three years, but 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 amended and restated Credit Agreement is LIBOR plus 0.50%, with a commitment fee of 0.04% on the undrawn portion of the credit facility. There were no borrowings outstanding under the Credit Agreement as of December 31, 2019 and March 31, 2020.

Stockholders' Equity

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Stock Repurchase Activity

In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration. There were no repurchases of common stock during the three months ended March 31, 2019 or 2020.

Stock Award Activity

Common shares outstanding plus shares underlying outstanding stock awards totaled 512 million and 513 million as of December 31, 2019 and March 31, 2020. 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 March 31,
	2019		2020
Cost of sales	$	24	$	41
Fulfillment	234		260
Technology and content	675		961
Marketing	209		332
General and administrative	132		163
Total stock-based compensation expense	$	1,274	$	1,757

The following table summarizes our restricted stock unit activity for the three months ended March 31, 2020 (in millions):



	Number of Units		Weighted-Average Grant-Date Fair Value
Outstanding as of December 31, 2019	14.3		$	1,458
Units granted	0.9		1,900
Units vested	(1.0	)	893
Units forfeited	(0.4	)	1,406
Outstanding as of March 31, 2020	13.8		1,530

Scheduled vesting for outstanding restricted stock units as of March 31, 2020, is as follows (in millions):



	Nine Months Ended December 31,	Year Ended December 31,
	2020	2021	2022	2023	2024	Thereafter	Total
Scheduled vesting—restricted stock units	4.8	5.0	2.3	1.3	0.2	0.2	13.8

As of March 31, 2020, there was $8.3 billion of net unrecognized compensation cost related to unvested stock-based compensation arrangements. This compensation is recognized on an accelerated basis with approximately half of the compensation expected to be expensed in the next twelve months, and has a weighted-average recognition period of 1.1 years. The estimated forfeiture rate as of December 31, 2019 and March 31, 2020 was 27%. 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 the changes in stockholders’ equity (in millions):



	Three Months Ended March 31,
	2019			2020
Total beginning stockholders’ equity	$	43,549		$	62,060

Beginning and ending common stock	5			5

Beginning and ending treasury stock	(1,837		)	(1,837		)

Beginning additional paid-in capital	26,791			33,658
Stock-based compensation and issuance of employee benefit plan stock	1,268			1,754
Ending additional paid-in capital	28,059			35,412

Beginning accumulated other comprehensive income (loss)	(1,035		)	(986		)
Other comprehensive income (loss)	25			(1,077		)
Ending accumulated other comprehensive income (loss)	(1,010		)	(2,063		)

Beginning retained earnings	19,625			31,220
Cumulative effect of changes in accounting principles (1)	7			—
Net income	3,561			2,535
Ending retained earnings	23,193			33,755

Total ending stockholders’ equity	$	48,410		$	65,272

___________________

(1)

We recorded cumulative effect adjustments related to the new lease standard in Q1 2019 and the new measurement of credit losses standard in Q1 2020.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2020
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, audit-related developments, 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. Additionally, 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. For 2020, we estimate that our effective tax rate will be favorably affected by the impact of excess tax benefits from stock-based compensation and the U.S. federal research and development credit and adversely affected by state income taxes and losses incurred in certain foreign jurisdictions for which we may not realize a tax benefit. Losses for which we may not realize a related tax benefit, primarily due to losses of foreign subsidiaries, reduce our pre-tax income without a corresponding reduction in our tax expense, and therefore increase our effective tax rate. We record valuation allowances against the deferred tax assets associated with losses for which we may not realize a related tax benefit. Our income tax provisions for the three months ended March 31, 2019 and 2020 were $836 million and $744 million, which included $261 million and $273 million of net discrete tax benefits primarily attributable to excess tax benefits from stock-based compensation. Cash paid for income taxes, net of refunds was $168 million and $305 million in Q1 2019 and Q1 2020. As of December 31, 2019 and March 31, 2020, tax contingencies were approximately $3.9 billion and $3.8 billion. Changes in state, federal, and foreign tax laws may increase our tax contingencies. The timing of the resolution of income tax examinations 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 examinations 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 (“IRS”) for the calendar year 2007 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. 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, that 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. We believe the European Commission’s decision to be without merit and will continue to defend ourselves vigorously in this matter. We are also subject to taxation in various states and other foreign jurisdictions including China, 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.

Segment Information

3 Months Ended

Mar. 31, 2020

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,” “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 service offerings for start-ups, enterprises, government agencies, and academic institutions.

Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):



	Three Months Ended March 31,
	2019			2020
North America
Net sales	$	35,812		$	46,127
Operating expenses	33,525			44,815
Operating income	$	2,287		$	1,312

International
Net sales	$	16,192		$	19,106
Operating expenses	16,282			19,504
Operating income (loss)	$	(90	)	$	(398	)

AWS
Net sales	$	7,696		$	10,219
Operating expenses	5,473			7,144
Operating income	$	2,223		$	3,075

Consolidated
Net sales	$	59,700		$	75,452
Operating expenses	55,280			71,463
Operating income	4,420			3,989
Total non-operating income (expense)	(19		)	(606		)
Provision for income taxes	(836		)	(744		)
Equity-method investment activity, net of tax	(4		)	(104		)
Net income	$	3,561		$	2,535

Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):



	Three Months Ended March 31,
	2019		2020
Net Sales:
Online stores (1)	$	29,498	$	36,652
Physical stores (2)	4,307		4,640
Third-party seller services (3)	11,141		14,479
Subscription services (4)	4,342		5,556
AWS	7,696		10,219
Other (5)	2,716		3,906
Consolidated	$	59,700	$	75,452

____________________________

(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, music, videos, games, 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 from 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 audiobook, digital video, digital music, e-book, and other non-AWS subscription services.

(5)

Primarily includes sales of advertising services, as well as sales related to our other service offerings.

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
Inventory, Policy [Policy Text Block]	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 $1.6 billion as of December 31, 2019 and March 31, 2020.
Video And Music Content, Policy [Policy Text Block]	Digital Video and Music Content The total capitalized costs of video, which is primarily released content, and music as of December 31, 2019 and March 31, 2020 were $5.8 billion and $6.1 billion. Total video and music expense was $1.7 billion and $2.4 billion in Q1 2019 and Q1 2020.
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 2020 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 2019 Annual Report on Form 10-K.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation
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, and impairment of investments. Given the global economic climate and additional or unforeseen effects from the COVID-19 pandemic, these estimates are becoming more challenging, and actual results could differ materially from those 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.
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, 2019 and March 31, 2020, customer receivables, net, were $12.6 billion and $11.3 billion, vendor receivables, net, were $4.2 billion and $2.7 billion, and seller receivables, net, were $863 million and $801 million. Seller receivables are amounts due from sellers related to our seller lending program, which provides funding to sellers primarily to procure inventory.
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, 2019 was $10.2 billion, of which $3.4 billion was recognized as revenue during the three months ended March 31, 2020. Included in “Other long-term liabilities” on our consolidated balance sheets was $2.0 billion and $1.8 billion of unearned revenue as of December 31, 2019 and March 31, 2020. 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 financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were $34.1 billion as of March 31, 2020. The weighted average remaining life of our long-term contracts is 3.3 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.

Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Calculation of Diluted Shares

The following table shows the calculation of diluted shares (in millions):



	Three Months Ended March 31,
	2019	2020
Shares used in computation of basic earnings per share	491	498
Total dilutive effect of outstanding stock awards	11	8
Shares used in computation of diluted earnings per share	502	506

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

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, 2019			March 31, 2020
	Total Estimated Fair Value			Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Total Estimated Fair Value
Cash	$	9,776		$	8,363	$	—	$	—		$	8,363
Level 1 securities:
Money market funds	18,850			16,260		—		—			16,260
Equity securities (1)	202										174
Level 2 securities:
Foreign government and agency securities	4,794			3,467		—		(1		)	3,466
U.S. government and agency securities	7,080			4,295		51		(1		)	4,345
Corporate debt securities	11,881			13,957		41		(205		)	13,793
Asset-backed securities	2,360			2,868		3		(51		)	2,820
Other fixed income securities	394			375		2		(1		)	376
Equity securities (1)	5										2
	$	55,342		$	49,585	$	97	$	(259	)	$	49,599
Less: Restricted cash, cash equivalents, and marketable securities (2)	(321		)								(307		)
Total cash, cash equivalents, and marketable securities	$	55,021									$	49,292

___________________


(1)	The related unrealized gain (loss) recorded in “Other income (expense), net” was $68 million and $(31) million in Q1 2019 and Q1 2020.

(2)

We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable securities as collateral for real estate leases, amounts due to third-party sellers in certain jurisdictions, debt, and standby and trade letters of credit. We classify cash, cash equivalents, and marketable securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 4 — Commitments and Contingencies.”

Investments Classified by Contractual Maturity Date

The following table summarizes the remaining contractual maturities of our cash equivalents and marketable fixed income securities as of March 31, 2020 (in millions):



	Amortized Cost		Estimated Fair Value
Due within one year	$	26,936	$	26,935
Due after one year through five years	11,645		11,498
Due after five years through ten years	533		527
Due after ten years	2,108		2,100
Total	$	41,222	$	41,060

Actual maturities may differ from the contractual maturities because borrowers may have certain prepayment conditions.

Reconciliation of cash, cash equivalents, and 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, 2019		March 31, 2020
Cash and cash equivalents	$	36,092	$	27,201
Restricted cash included in accounts receivable, net and other	276		282
Restricted cash included in other assets	42		22
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	36,410	$	27,505

Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Lease, Cost

Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):



	Three Months Ended March 31,
	2019		2020
Operating lease cost	$	836	$	1,068
Finance lease cost:
Amortization of lease assets	2,307		1,894
Interest on lease liabilities	156		164
Finance lease cost	2,463		2,058
Variable lease cost	250		264
Total lease cost	$	3,549	$	3,390

Other Operating and Finance Lease Information

Other information about lease amounts recognized in our consolidated financial statements is summarized as follows:



	December 31, 2019		March 31, 2020
Weighted-average remaining lease term – operating leases	11.5 years		11.4 years
Weighted-average remaining lease term – finance leases	5.5 years		5.6 years
Weighted-average discount rate – operating leases	3.1	%	3.0	%
Weighted-average discount rate – finance leases	2.7	%	2.6	%

Operating and Finance Lease Liability Reconciliation

Our lease liabilities were as follows (in millions):



	December 31, 2019
	Operating Leases			Finance Leases			Total
Gross lease liabilities	$	31,963		$	28,875		$	60,838
Less: imputed interest	(6,128		)	(1,896		)	(8,024		)
Present value of lease liabilities	25,835			26,979			52,814
Less: current portion of lease liabilities	(3,139		)	(9,884		)	(13,023		)
Total long-term lease liabilities	$	22,696		$	17,095		$	39,791



	March 31, 2020
	Operating Leases			Finance Leases			Total
Gross lease liabilities	$	33,654		$	28,147		$	61,801
Less: imputed interest	(6,570		)	(1,828		)	(8,398		)
Present value of lease liabilities	27,084			26,319			53,403
Less: current portion of lease liabilities	(3,279		)	(9,824		)	(13,103		)
Total long-term lease liabilities	$	23,805		$	16,495		$	40,300

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31, 2020 (in millions):



	Nine Months Ended December 31,		Year Ended December 31,
	2020		2021		2022		2023		2024		Thereafter		Total
Debt principal and interest	$	1,881	$	2,016	$	2,605	$	2,294	$	4,100	$	26,020	$	38,916
Operating lease liabilities	2,922		3,913		3,499		3,156		2,855		17,309		33,654
Finance lease liabilities, including interest	7,461		8,217		4,652		1,564		1,046		5,207		28,147
Financing obligations, including interest	108		145		148		150		152		2,451		3,154
Unconditional purchase obligations (1)	2,960		3,801		3,352		3,125		3,002		2,370		18,610
Other commitments (2) (3)	3,179		2,639		2,107		1,812		1,761		16,658		28,156
Total commitments	$	18,511	$	20,731	$	16,363	$	12,101	$	12,916	$	70,015	$	150,637

___________________

(1)

Includes unconditional purchase obligations related to certain products offered in our Whole Foods Market stores and long-term agreements to acquire and license digital media content that are not reflected on the consolidated balance sheets. 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.


(2)	Includes the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements and lease arrangements prior to the lease commencement date and digital media content liabilities associated with long-term digital media content assets with initial terms greater than one year.

(3)

Excludes approximately $3.8 billion of accrued tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt Obligations

The face value of our total long-term debt obligations is as follows (in millions):



	December 31, 2019			March 31, 2020
1.900% Notes due on August 21, 2020 (3)	1,000			1,000
3.300% Notes due on December 5, 2021 (2)	1,000			1,000
2.500% Notes due on November 29, 2022 (1)	1,250			1,250
2.400% Notes due on February 22, 2023 (3)	1,000			1,000
2.800% Notes due on August 22, 2024 (3)	2,000			2,000
3.800% Notes due on December 5, 2024 (2)	1,250			1,250
5.200% Notes due on December 3, 2025 (4)	1,000			1,000
3.150% Notes due on August 22, 2027 (3)	3,500			3,500
4.800% Notes due on December 5, 2034 (2)	1,250			1,250
3.875% Notes due on August 22, 2037 (3)	2,750			2,750
4.950% Notes due on December 5, 2044 (2)	1,500			1,500
4.050% Notes due on August 22, 2047 (3)	3,500			3,500
4.250% Notes due on August 22, 2057 (3)	2,250			2,250
Credit Facility	740			740
Other long-term debt	830			859
Total debt	24,820			24,849
Less current portion of long-term debt	(1,307		)	(1,311		)
Face value of long-term debt	$	23,513		$	23,538

_____________________________


(1)	Issued in November 2012, effective interest rate of the 2022 Notes was 2.66%.


(2)	Issued in December 2014, effective interest rates of the 2021, 2024, 2034, and 2044 Notes were 3.43%, 3.90%, 4.92%, and 5.11%.


(3)	Issued in August 2017, effective interest rates of the 2020, 2023, 2024, 2027, 2037, 2047, and 2057 Notes were 2.16%, 2.56%, 2.95%, 3.25%, 3.94%, 4.13%, and 4.33%.

(4)

Consists of $872 million of 2025 Notes issued in December 2017 in exchange for notes assumed in connection with the acquisition of Whole Foods Market and $128 million of 2025 Notes issued by Whole Foods Market that did not participate in our December 2017 exchange offer. The effective interest rate of the 2025 Notes was 3.02%.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Stock-Based Compensation Expense

Stock-based compensation expense is as follows (in millions):



	Three Months Ended March 31,
	2019		2020
Cost of sales	$	24	$	41
Fulfillment	234		260
Technology and content	675		961
Marketing	209		332
General and administrative	132		163
Total stock-based compensation expense	$	1,274	$	1,757

Nonvested Restricted Stock Units Activity

The following table summarizes our restricted stock unit activity for the three months ended March 31, 2020 (in millions):



	Number of Units		Weighted-Average Grant-Date Fair Value
Outstanding as of December 31, 2019	14.3		$	1,458
Units granted	0.9		1,900
Units vested	(1.0	)	893
Units forfeited	(0.4	)	1,406
Outstanding as of March 31, 2020	13.8		1,530

Scheduled Vesting Restricted Stock Unit Activity

Scheduled vesting for outstanding restricted stock units as of March 31, 2020, is as follows (in millions):



	Nine Months Ended December 31,	Year Ended December 31,
	2020	2021	2022	2023	2024	Thereafter	Total
Scheduled vesting—restricted stock units	4.8	5.0	2.3	1.3	0.2	0.2	13.8

Changes in Stockholders Equity

The following table shows the changes in stockholders’ equity (in millions):



	Three Months Ended March 31,
	2019			2020
Total beginning stockholders’ equity	$	43,549		$	62,060

Beginning and ending common stock	5			5

Beginning and ending treasury stock	(1,837		)	(1,837		)

Beginning additional paid-in capital	26,791			33,658
Stock-based compensation and issuance of employee benefit plan stock	1,268			1,754
Ending additional paid-in capital	28,059			35,412

Beginning accumulated other comprehensive income (loss)	(1,035		)	(986		)
Other comprehensive income (loss)	25			(1,077		)
Ending accumulated other comprehensive income (loss)	(1,010		)	(2,063		)

Beginning retained earnings	19,625			31,220
Cumulative effect of changes in accounting principles (1)	7			—
Net income	3,561			2,535
Ending retained earnings	23,193			33,755

Total ending stockholders’ equity	$	48,410		$	65,272

___________________

(1)

We recorded cumulative effect adjustments related to the new lease standard in Q1 2019 and the new measurement of credit losses standard in Q1 2020.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Information on Reportable Segments and Reconciliation to Consolidated Net Income

Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):



	Three Months Ended March 31,
	2019			2020
North America
Net sales	$	35,812		$	46,127
Operating expenses	33,525			44,815
Operating income	$	2,287		$	1,312

International
Net sales	$	16,192		$	19,106
Operating expenses	16,282			19,504
Operating income (loss)	$	(90	)	$	(398	)

AWS
Net sales	$	7,696		$	10,219
Operating expenses	5,473			7,144
Operating income	$	2,223		$	3,075

Consolidated
Net sales	$	59,700		$	75,452
Operating expenses	55,280			71,463
Operating income	4,420			3,989
Total non-operating income (expense)	(19		)	(606		)
Provision for income taxes	(836		)	(744		)
Equity-method investment activity, net of tax	(4		)	(104		)
Net income	$	3,561		$	2,535

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 March 31,
	2019		2020
Net Sales:
Online stores (1)	$	29,498	$	36,652
Physical stores (2)	4,307		4,640
Third-party seller services (3)	11,141		14,479
Subscription services (4)	4,342		5,556
AWS	7,696		10,219
Other (5)	2,716		3,906
Consolidated	$	59,700	$	75,452

____________________________

(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, music, videos, games, 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 from 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 audiobook, digital video, digital music, e-book, and other non-AWS subscription services.

(5)

Primarily includes sales of advertising services, as well as sales related to our other service offerings.

Accounting Policies - Use of Estimates (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Property, Plant and Equipment [Line Items]
Decrease in depreciation and amortization	$ (5,362)	$ (4,854)	$ (22,297)		$ (16,524)
Increase in net income	$ 2,535	$ 3,561	$ 10,563		$ 12,005
Increase in basic earnings per share	$ 5.09	$ 7.24
Increase in diluted earnings per share	$ 5.01	$ 7.09
Technology equipment
Property, Plant and Equipment [Line Items]
Useful life of equipment	4 years			3 years
Change in equipment useful life
Property, Plant and Equipment [Line Items]
Decrease in depreciation and amortization	$ 786
Increase in net income	$ 602
Increase in basic earnings per share	$ 1.21
Increase in diluted earnings per share	$ 1.19

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Accounting Policies - Calculation of Diluted Shares (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Shares used in computation of basic earnings per share	498	491
Total dilutive effect of outstanding stock awards	8	11
Shares used in computation of diluted earnings per share	506	502

Accounting Policies - Inventories (Details) - USD ($) $ in Billions	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Inventory valuation allowance	$ 1.6	$ 1.6

Accounting Policies - Accounts Receivable, Net and Other (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net and other	$ 17,836	$ 20,816
Accounts Receivable, Allowance for Credit Loss, Current	1,100	718
Customer Receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net and other	11,300	12,600
Vendor Receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net and other	2,700	4,200
Seller Receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net and other	$ 801	$ 863

Accounting Policies - Video and Music Content (Details) - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accounting Policies [Abstract]
Video and Music Content, Capitalized Costs	$ 6.1		$ 5.8
Video and Music Content, Expense	$ 2.4	$ 1.7

Accounting Policies - Unearned Revenue (Details) - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Unearned revenue		$ 10.2
Unearned revenue, revenue recognized from beginning balance	$ 3.4
Unearned Revenue, Noncurrent	1.8	$ 2.0
Remaining performance obligation, contracts exceeding one year	$ 34.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, weighted average remaining life	3 years 3 months 18 days

Financial Instruments - Fair Values on Recurring Basis (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Equity Securities, FV-NI, Unrealized Gain (Loss)	$ (31)
Recurring
Schedule of Investments [Line Items]
Cash	8,363	$ 9,776
Total Estimated Fair Value
Cash, cash equivalents and marketable securities	49,599	55,342
Less: Restricted cash, cash equivalents, and marketable securities	(307)	(321)
Total cash, cash equivalents, and marketable securities	49,292	55,021
Cost or Amortized Cost
Cash, cash equivalents and marketable securities	49,585
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax
Debt Securities, Available for Sale, Unrealized Gain	97
Debt Securities, Available for Sale, Unrealized Loss	(259)
Recurring \| Level 1 securities
Total Estimated Fair Value
Equity Securities, FV-NI	174	202
Recurring \| Level 1 securities \| Money market funds
Schedule of Investments [Line Items]
Money market funds	16,260	18,850
Recurring \| Level 2 securities
Total Estimated Fair Value
Equity Securities, FV-NI	2	5
Recurring \| Level 2 securities \| Foreign government and agency securities
Total Estimated Fair Value
Debt Securities, Available for Sale, Fair Value	3,466	4,794
Cost or Amortized Cost
Debt Securities, Available for Sale, Cost	3,467
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax
Debt Securities, Available for Sale, Unrealized Gain	0
Debt Securities, Available for Sale, Unrealized Loss	(1)
Recurring \| Level 2 securities \| U.S. government and agency securities
Total Estimated Fair Value
Debt Securities, Available for Sale, Fair Value	4,345	7,080
Cost or Amortized Cost
Debt Securities, Available for Sale, Cost	4,295
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax
Debt Securities, Available for Sale, Unrealized Gain	51
Debt Securities, Available for Sale, Unrealized Loss	(1)
Recurring \| Level 2 securities \| Corporate debt securities
Total Estimated Fair Value
Debt Securities, Available for Sale, Fair Value	13,793	11,881
Cost or Amortized Cost
Debt Securities, Available for Sale, Cost	13,957
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax
Debt Securities, Available for Sale, Unrealized Gain	41
Debt Securities, Available for Sale, Unrealized Loss	(205)
Recurring \| Level 2 securities \| Asset-backed securities
Total Estimated Fair Value
Debt Securities, Available for Sale, Fair Value	2,820	2,360
Cost or Amortized Cost
Debt Securities, Available for Sale, Cost	2,868
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax
Debt Securities, Available for Sale, Unrealized Gain	3
Debt Securities, Available for Sale, Unrealized Loss	(51)
Recurring \| Level 2 securities \| Other fixed income securities
Total Estimated Fair Value
Debt Securities, Available for Sale, Fair Value	376	$ 394
Cost or Amortized Cost
Debt Securities, Available for Sale, Cost	375
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax
Debt Securities, Available for Sale, Unrealized Gain	2
Debt Securities, Available for Sale, Unrealized Loss	(1)
Money market funds \| Recurring \| Level 1 securities \| Money market funds
Schedule of Investments [Line Items]
Money market funds	$ 16,260

Financial Instruments - Contractual Maturities (Details) $ in Millions	Mar. 31, 2020 USD ($)
Amortized Cost
Due within one year	$ 26,936
Due after one year through five years	11,645
Due after five years through ten years	533
Due after ten years	2,108
Cash Equivalents and Marketable Fixed Income Securities, Cost	41,222
Estimated Fair Value
Due within one year	26,935
Due after one year through five years	11,498
Due after five years through ten years	527
Due after ten years	2,100
Cash Equivalents and Marketable Fixed Income Securities, Fair Value	$ 41,060

Financial Instruments - Equity Warrant Assets and Non-Marketable Equity Securities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Equity Securities without Readily Determinable Fair Value, Amount		$ 1,500
Warrant \| Level 2 assets
Derivative [Line Items]
Fair value of warrant assets	$ 528	$ 669

Financial Instruments - Reconciliation to Cash Flow (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 27,201	$ 36,092
Restricted cash included in accounts receivable, net and other	282	276
Restricted cash included in other assets	22	42
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 27,505	$ 36,410	$ 23,507	$ 32,173	$ 17,616

Leases - Additional Information (Details) - USD ($) $ in Billions	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019
Leases [Abstract]
Finance Lease, Right-of-Use Asset	$ 58.0	$ 57.4
Finance Lease, Right-of-Use-Asset, Accumulated Amortization	$ 30.5		$ 30.0

Leases - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Finance Lease, Right-of-Use Asset	$ 58,000	$ 57,400
Operating lease cost	1,068
Finance lease amortization of lease assets	1,894
Finance lease interest on lease liabilities	164
Finance lease cost	2,058
Variable lease cost	264
Total lease cost	$ 3,390

Leases - Other Operating and Finance Lease Information (Details)	Mar. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term – operating leases	11 years 4 months 24 days
Weighted-average remaining lease term – finance leases	5 years 7 months 6 days
Weighted-average discount rate – operating leases	3.00%
Weighted-average discount rate – finance leases	2.60%

Leases - Operating and Finance Lease Liability Reconciliation (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Gross lease liabilities - operating leases	$ 33,654
Gross lease liabilities - finance leases	28,147
Gross lease liabilities	61,801
Imputed interest - operating leases	(6,570)
Imputed interest - finance leases	(1,828)
Imputed interest	(8,398)
Present value of operating leases	27,084
Present value of finance leases	26,319
Present value of lease liabilities	53,403
Current portion of operating lease liabilities	(3,279)
Current portion of finance lease liabilities	(9,824)
Current portion of lease liabilities	(13,103)
Total long-term operating lease liabilities	23,805
Total long-term finance lease liabilities	16,495
Total long-term lease liabilities	$ 40,300	$ 39,791

Commitments and Contingencies - Principal Contractual Commitments Excluding Open Orders (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Debt principal and interest
Six Months Ended December 31, 2019	$ 1,881
Year Ended December 31, 2020	2,016
Year Ended December 31, 2021	2,605
Year Ended December 31, 2022	2,294
Year Ended December 31, 2023	4,100
Thereafter	26,020
Total	38,916
Operating lease liabilities
Six Months Ended December 31, 2019	2,922
Year Ended December 31, 2020	3,913
Year Ended December 31, 2021	3,499
Year Ended December 31, 2022	3,156
Year Ended December 31, 2023	2,855
Thereafter	17,309
Gross lease liabilities - operating leases	33,654
Finance lease liabilities, including interest
Six Months Ended December 31, 2019	7,461
Year Ended December 31, 2020	8,217
Year Ended December 31, 2021	4,652
Year Ended December 31, 2022	1,564
Year Ended December 31, 2023	1,046
Thereafter	5,207
Gross lease liabilities - finance leases	28,147
Financing obligations, including interest
Six Months Ended December 31, 2019	108
Year Ended December 31, 2020	145
Year Ended December 31, 2021	148
Year Ended December 31, 2022	150
Year Ended December 31, 2023	152
Thereafter	2,451
Total	3,154
Unconditional purchase obligations
Six Months Ended December 31, 2019	2,960
Year Ended December 31, 2020	3,801
Year Ended December 31, 2021	3,352
Year Ended December 31, 2022	3,125
Year Ended December 31, 2023	3,002
Thereafter	2,370
Total	18,610
Other commitments
Six Months Ended December 31, 2019	3,179
Year Ended December 31, 2020	2,639
Year Ended December 31, 2021	2,107
Year Ended December 31, 2022	1,812
Year Ended December 31, 2023	1,761
Thereafter	16,658
Total	28,156
Accrued tax contingencies	3,800	$ 3,900
Total commitments
Six Months Ended December 31, 2019	18,511
Year Ended December 31, 2020	20,731
Year Ended December 31, 2021	16,363
Year Ended December 31, 2022	12,101
Year Ended December 31, 2023	12,916
Thereafter	70,015
Total	$ 150,637

Commitments and Contingencies - Pledged Assets (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Pledged assets	$ 984	$ 994

Debt - Additional Information (Details)	1 Months Ended		3 Months Ended
Debt - Additional Information (Details)	Apr. 30, 2018 USD ($) extension	Oct. 31, 2016 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Borrowings outstanding			$ 24,849,000,000	$ 24,820,000,000
Face value of long-term debt			23,538,000,000	23,513,000,000
Commercial Paper
Debt Instrument [Line Items]
Credit term	397 days
Commercial Paper			0	0
Commercial Paper, Maximum Borrowing Capacity	$ 7,000,000,000.0
Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount (Premium), Net			101,000,000	101,000,000
Borrowings outstanding			23,200,000,000
Estimated fair value of notes			27,500,000,000	26,200,000,000
Senior Notes \| 5.200% Notes due on December 3, 2025
Debt Instrument [Line Items]
Borrowings outstanding			1,000,000,000	1,000,000,000
Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings outstanding			740,000,000	740,000,000
Credit Facility \| Revolving Credit Facility \| October 2016 Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit maximum borrowing capacity		$ 500,000,000	740,000,000
Commitment fee percentage		0.50%
Borrowings outstanding			$ 740,000,000	$ 740,000,000
Weighted average interest rate			3.30%	3.40%
Collateral amount			$ 848,000,000	$ 852,000,000
Credit Facility \| Revolving Credit Facility \| October 2016 Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			1.40%
Credit Facility \| Revolving Credit Facility \| April 2018 Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit maximum borrowing capacity	$ 7,000,000,000.0
Credit term	3 years
Line Of Credit Facility, Number Of Extensions \| extension	3
Line Of Credit Facility, Additional Term	1 year
Commitment fee percentage	0.04%
Borrowings outstanding			$ 0	0
Credit Facility \| Revolving Credit Facility \| April 2018 Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Line of Credit and Other Long-term Debt
Debt Instrument [Line Items]
Borrowings outstanding			1,600,000,000	1,600,000,000
Other Long-term Debt
Debt Instrument [Line Items]
Borrowings outstanding			$ 859,000,000	$ 830,000,000
Weighted average interest rate			3.90%	4.10%

Debt - Long-Term Debt Obligations (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Apr. 30, 2018	Oct. 31, 2016
Debt Instrument [Line Items]
Total debt	$ 24,849,000,000	$ 24,820,000,000
Less current portion of long-term debt	(1,311,000,000)	(1,307,000,000)
Face value of long-term debt	23,538,000,000	23,513,000,000
Senior Notes
Debt Instrument [Line Items]
Total debt	$ 23,200,000,000
Senior Notes \| 1.900% Notes due on August 21, 2020
Debt Instrument [Line Items]
Stated interest rate	1.90%
Total debt	$ 1,000,000,000	1,000,000,000
Effective interest rates	2.16%
Senior Notes \| 3.300% Notes due on December 5, 2021
Debt Instrument [Line Items]
Stated interest rate	3.30%
Total debt	$ 1,000,000,000	1,000,000,000
Effective interest rates	3.43%
Senior Notes \| 2.500% Notes due on November 29, 2022
Debt Instrument [Line Items]
Stated interest rate	2.50%
Total debt	$ 1,250,000,000	1,250,000,000
Effective interest rates	2.66%
Senior Notes \| 2.400% Notes due on February 22, 2023
Debt Instrument [Line Items]
Stated interest rate	2.40%
Total debt	$ 1,000,000,000	1,000,000,000
Effective interest rates	2.56%
Senior Notes \| 2.800% Notes due on August 22, 2024
Debt Instrument [Line Items]
Stated interest rate	2.80%
Total debt	$ 2,000,000,000	2,000,000,000
Effective interest rates	2.95%
Senior Notes \| 3.800% Notes due on December 5, 2024
Debt Instrument [Line Items]
Stated interest rate	3.80%
Total debt	$ 1,250,000,000	1,250,000,000
Effective interest rates	3.90%
Senior Notes \| 5.200% Notes due on December 3, 2025
Debt Instrument [Line Items]
Stated interest rate	5.20%
Total debt	$ 1,000,000,000	1,000,000,000
Effective interest rates	3.02%
Senior Notes \| 3.150% Notes due on August 22, 2027
Debt Instrument [Line Items]
Stated interest rate	3.15%
Total debt	$ 3,500,000,000	3,500,000,000
Effective interest rates	3.25%
Senior Notes \| 4.800% Notes due on December 5, 2034
Debt Instrument [Line Items]
Stated interest rate	4.80%
Total debt	$ 1,250,000,000	1,250,000,000
Effective interest rates	4.92%
Senior Notes \| 3.875% Notes due on August 22, 2037
Debt Instrument [Line Items]
Stated interest rate	3.875%
Total debt	$ 2,750,000,000	2,750,000,000
Effective interest rates	3.94%
Senior Notes \| 4.950% Notes due on December 5, 2044
Debt Instrument [Line Items]
Stated interest rate	4.95%
Total debt	$ 1,500,000,000	1,500,000,000
Effective interest rates	5.11%
Senior Notes \| 4.050% Notes due on August 22, 2047
Debt Instrument [Line Items]
Stated interest rate	4.05%
Total debt	$ 3,500,000,000	3,500,000,000
Effective interest rates	4.13%
Senior Notes \| 4.250% Notes due on August 22, 2057
Debt Instrument [Line Items]
Stated interest rate	4.25%
Total debt	$ 2,250,000,000	2,250,000,000
Effective interest rates	4.33%
Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	$ 740,000,000	740,000,000
Credit Facility \| October 2016 Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit maximum borrowing capacity	740,000,000			$ 500,000,000
Credit Facility \| April 2018 Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit maximum borrowing capacity			$ 7,000,000,000.0
Other long-term debt
Debt Instrument [Line Items]
Total debt	$ 859,000,000	$ 830,000,000

Stockholders' Equity - Additional Information (Details) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Feb. 29, 2016
Class of Stock [Line Items]
Common shares outstanding plus underlying outstanding stock awards	513
Net unrecognized compensation cost related to unvested stock-based compensation arrangements	$ 8,300,000,000
Compensation cost expected to be expensed in next twelve months, 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
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Forfeiture Rate	27.00%		27.00%
February 2016 Program
Class of Stock [Line Items]
Stock repurchase, authorized amount				$ 5,000,000,000.0
Stock Repurchased During Period, Value	$ 0	$ 0

Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Forfeiture Rate	27.00%		27.00%
Total stock-based compensation expense	$ 1,757	$ 1,274
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	41	24
Fulfillment
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	260	234
Technology and content
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	961	675
Marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	332	209
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 163	$ 132

Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units shares in Millions	3 Months Ended
	Mar. 31, 2020 $ / shares shares
Number of Units
Beginning balance (in shares) \| shares	14.3
Units granted (in shares) \| shares	0.9
Units vested (in shares) \| shares	(1.0)
Units forfeited (in shares) \| shares	(0.4)
Ending balance (in shares) \| shares	13.8
Weighted-Average Grant-Date Fair Value
Outstanding as of December 31, 2019 \| $ / shares	$ 1,458
Units granted \| $ / shares	1,900
Units vested \| $ / shares	893
Units forfeited \| $ / shares	1,406
Outstanding as of March 31, 2020 \| $ / shares	$ 1,530

Stockholders' Equity - Scheduled Vesting for Outstanding Restricted Stock Units (Details) - Restricted Stock Units - shares shares in Millions	Mar. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Six Months Ended December 31, 2019	4.8
Year Ended December 31, 2020	5.0
Year Ended December 31, 2021	2.3
Year Ended December 31, 2022	1.3
Year Ended December 31, 2023	0.2
Thereafter	0.2
Total	13.8	14.3

Stockholders' Equity - Changes in Stockholders Equity (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Jul. 01, 2019	Dec. 31, 2018	Jul. 01, 2018
Stockholders' equity	$ 65,272	$ 48,410	$ 65,272	$ 48,410	$ 62,060		$ 43,549
Other comprehensive income (loss)	(1,077)	25
Net Income	2,535	3,561	10,563	12,005
Common stock
Stockholders' equity	5	5	5	5	5		5
Treasury stock
Stockholders' equity	(1,837)	(1,837)	(1,837)	(1,837)	(1,837)		(1,837)
Additional paid-in capital
Stockholders' equity	35,412	28,059	35,412	28,059	33,658		26,791
Stock-based compensation and issuance of employee benefit plan stock	1,754	1,268
Accumulated other comprehensive income (loss)
Stockholders' equity	(2,063)	(1,010)	(2,063)	(1,010)	(986)		(1,035)
Other comprehensive income (loss)	(1,077)	25
Retained earnings
Stockholders' equity	33,755	23,193	$ 33,755	$ 23,193	$ 31,220		$ 19,625
Cumulative effect of changes in accounting principles						$ 0		$ 7
Net Income	$ 2,535	$ 3,561

Income Taxes - Income Taxes (Details) € in Millions, $ in Millions		3 Months Ended		12 Months Ended
	Oct. 04, 2017 EUR (€)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2019 USD ($)
Income Tax Disclosure [Abstract]
Provision for income taxes		$ 744	$ 836
Discrete tax benefits		273	261
Cash paid for income taxes, net of refunds		305	$ 168	$ 1,017	$ 840
Tax contingencies		$ 3,800		$ 3,800		$ 3,900
Luxembourg Tax Administration [Member] \| Foreign Tax Authority [Member]
Income Tax Examination [Line Items]
Tax examination, estimate of additional tax expense \| €	€ 250

Segment Information - Reportable Segments and Reconciliation to Consolidated Net Income (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020 USD ($) segment	Mar. 31, 2019 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment	3
Segment Reporting Disclosure [Line Items]
Net sales	$ 75,452	$ 59,700
Operating expenses	71,463	55,280
Operating income (loss)	3,989	4,420
Total non-operating income (expense)	(606)	(19)
Provision for income taxes	(744)	(836)
Equity-method investment activity, net of tax	(104)	(4)
Net income	2,535	3,561	$ 10,563	$ 12,005
North America
Segment Reporting Disclosure [Line Items]
Net sales	46,127	35,812
Operating expenses	44,815	33,525
Operating income (loss)	1,312	2,287
International
Segment Reporting Disclosure [Line Items]
Net sales	19,106	16,192
Operating expenses	19,504	16,282
Operating income (loss)	(398)	(90)
AWS
Segment Reporting Disclosure [Line Items]
Net sales	10,219	7,696
Operating expenses	7,144	5,473
Operating income (loss)	$ 3,075	$ 2,223

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total net sales	$ 75,452	$ 59,700
Online stores
Disaggregation of Revenue [Line Items]
Total net sales	36,652	29,498
Physical stores
Disaggregation of Revenue [Line Items]
Total net sales	4,640	4,307
Third-party seller services
Disaggregation of Revenue [Line Items]
Total net sales	14,479	11,141
Subscription services
Disaggregation of Revenue [Line Items]
Total net sales	5,556	4,342
AWS
Disaggregation of Revenue [Line Items]
Total net sales	10,219	7,696
Other
Disaggregation of Revenue [Line Items]
Total net sales	$ 3,906	$ 2,716