AMAZON COM INC, 10-Q filed on 10/31/2025
Quarterly Report
v3.25.3
Cover - shares
 9 Months Ended
Sep. 30, 2025
Oct. 22, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
Document Transition Report false  
Entity File Number 000-22513  
Entity Registrant Name AMAZON.COM, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 91-1646860  
Entity Address, Address Line One 410 Terry Avenue North  
Entity Address, City or Town Seattle,  
Entity Address, State or Province WA  
Entity Address, Postal Zip Code 98109-5210  
City Area Code 206  
Local Phone Number 266-1000  
Title of 12(b) Security Common Stock, par value $.01 per share  
Trading Symbol AMZN  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   10,690,216,011
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Entity Central Index Key 0001018724  
Current Fiscal Year End Date --12-31  
v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Cash Flows [Abstract]            
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD $ 61,453 $ 71,673 $ 82,312 $ 73,890 $ 78,677 $ 50,081
OPERATING ACTIVITIES:            
Net income 21,187 15,328 56,478 39,244 76,482 49,868
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 16,796 13,442 46,285 37,164 61,916 50,984
Stock-based compensation 4,847 5,333 15,070 17,016 20,065 23,335
Non-operating expense (income), net (10,112) (141) (14,187) 2,498 (14,673) 2,159
Deferred income taxes 10,130 (1,317) 10,648 (3,040) 9,040 (4,504)
Changes in operating assets and liabilities:            
Inventories (827) (1,509) (6,103) (2,818) (5,169) (175)
Accounts receivable, net and other (1,977) (701) (1,855) 774 (5,878) (6,673)
Other assets (4,039) (4,537) (10,412) (10,293) (14,602) (13,095)
Accounts payable 2,151 (477) 166 (5,754) 8,892 5,134
Accrued expenses and other (1,999) 129 (11,012) (6,946) (6,970) (352)
Unearned revenue (632) 421 (23) 2,396 1,588 6,025
Net cash provided by (used in) operating activities 35,525 25,971 85,055 70,241 130,691 112,706
INVESTING ACTIVITIES:            
Purchases of property and equipment (35,095) (22,620) (92,297) (55,165) (120,131) (69,753)
Proceeds from property and equipment sales and incentives 867 1,342 2,446 3,559 4,228 4,794
Acquisitions, net of cash acquired, non-marketable investments, and other, net (786) (622) (2,438) (4,547) (4,973) (4,928)
Sales and maturities of marketable securities 16,367 8,069 35,545 12,726 39,222 14,294
Purchases of marketable securities (7,426) (3,068) (38,556) (13,472) (51,089) (13,907)
Net cash provided by (used in) investing activities (26,073) (16,899) (95,300) (56,899) (132,743) (69,500)
FINANCING ACTIVITIES:            
Proceeds from short-term debt, and other 3,223 1,725 7,131 2,588 9,685 3,322
Repayments of short-term debt, and other (1,826) (1,820) (5,300) (2,453) (7,907) (8,791)
Proceeds from long-term debt 0 0 746 0 746 0
Repayments of long-term debt (1,008) (2,183) (3,759) (6,682) (6,259) (6,972)
Principal repayments of finance leases (351) (402) (1,172) (1,710) (1,505) (2,489)
Principal repayments of financing obligations (82) (78) (276) (247) (698) (320)
Net cash provided by (used in) financing activities (44) (2,758) (2,630) (8,504) (5,938) (15,250)
Foreign currency effect on cash, cash equivalents, and restricted cash (397) 690 1,027 (51) (223) 640
Net increase (decrease) in cash, cash equivalents, and restricted cash 9,011 7,004 (11,848) 4,787 (8,213) 28,596
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD $ 70,464 $ 78,677 $ 70,464 $ 78,677 $ 70,464 $ 78,677
v3.25.3
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net sales $ 180,169 $ 158,877 $ 503,538 $ 450,167
Operating expenses:        
Cost of sales 88,670 80,977 246,455 227,395
Fulfillment 27,679 24,660 78,248 70,543
Technology and infrastructure 28,962 22,245 79,122 64,973
Sales and marketing 11,686 10,609 32,865 30,783
General and administrative 2,875 2,713 8,468 8,496
Other operating expense (income), net 2,875 262 3,382 587
Total operating expenses 162,747 141,466 448,540 402,777
Operating income 17,422 17,411 54,998 47,390
Interest income 1,100 1,256 3,251 3,429
Interest expense (538) (603) (1,595) (1,836)
Other income (expense), net 10,186 (27) 14,052 (2,718)
Total non-operating income (expense) 10,748 626 15,708 (1,125)
Income before income taxes 28,170 18,037 70,706 46,265
Provision for income taxes (6,910) (2,706) (14,141) (6,940)
Equity-method investment activity, net of tax (73) (3) (87) (81)
Net income $ 21,187 $ 15,328 $ 56,478 $ 39,244
Basic earnings per share (in usd per share) $ 1.98 $ 1.46 $ 5.31 $ 3.76
Diluted earnings per share (in usd per share) $ 1.95 $ 1.43 $ 5.22 $ 3.67
Weighted-average shares used in computation of earnings per share:        
Basic (in shares) 10,674 10,501 10,638 10,447
Diluted (in shares) 10,845 10,735 10,815 10,705
Net product sales        
Net sales $ 74,058 $ 67,601 $ 206,274 $ 190,085
Net service sales        
Net sales $ 106,111 $ 91,276 $ 297,264 $ 260,082
v3.25.3
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 21,187 $ 15,328 $ 56,478 $ 39,244
Other comprehensive income (loss):        
Foreign currency translation adjustments, net of tax of $(45), $27, $43, and $(181) (690) 1,911 4,159 178
Available-for-sale debt securities:        
Change in net unrealized gains (losses), net of tax of $(55), $(3,797), $(282), and $(3,820) 12,397 167 12,474 944
Less: reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $0, $512, $(1), and $1,326 (1,795) 0 (4,266) 4
Net change 10,602 167 8,208 948
Other, net of tax of $3, $0, $1, and $0 1 (3) 0 (4)
Total other comprehensive income (loss) 9,913 2,075 12,367 1,122
Comprehensive income $ 31,100 $ 17,403 $ 68,845 $ 40,366
v3.25.3
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Foreign currency translation adjustments, tax $ 27 $ (45) $ (181) $ 43
Unrealized gains (losses), tax (3,797) (55) (3,820) (282)
Reclassification adjustment for losses (gains) included in “Other income (expense), net" 512 0 1,326 (1)
Other comprehensive income, other, tax $ 0 $ 3 $ 0 $ 1
v3.25.3
Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 66,922 $ 78,779
Marketable securities 27,275 22,423
Inventories 41,494 34,214
Accounts receivable, net and other 61,175 55,451
Total current assets 196,866 190,867
Property and equipment, net 324,435 252,665
Operating leases 83,456 76,141
Goodwill 23,260 23,074
Other assets 99,904 82,147
Total assets 727,921 624,894
Current liabilities:    
Accounts payable 106,032 94,363
Accrued expenses and other 68,051 66,965
Unearned revenue 21,113 18,103
Total current liabilities 195,196 179,431
Long-term lease liabilities 84,677 78,277
Long-term debt 50,742 52,623
Other long-term liabilities 27,675 28,593
Commitments and contingencies (Note 4)
Stockholders’ equity:    
Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding) 0 0
Common stock ($0.01 par value; 100,000 shares authorized; 11,108 and 11,202 shares issued; 10,593 and 10,687 shares outstanding) 112 111
Treasury stock, at cost (7,837) (7,837)
Additional paid-in capital 135,679 120,864
Accumulated other comprehensive income (loss) 12,333 (34)
Retained earnings 229,344 172,866
Total stockholders’ equity 369,631 285,970
Total liabilities and stockholders’ equity $ 727,921 $ 624,894
v3.25.3
Consolidated Balance Sheets (Parenthetical) - $ / shares
Sep. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in usd per share) $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 500,000,000 500,000,000
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 100,000,000,000 100,000,000,000
Common stock, issued (in shares) 11,202,000,000 11,108,000,000
Common stock, outstanding (in shares) 10,687,000,000 10,593,000,000
v3.25.3
Accounting Policies and Supplemental Disclosures
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Accounting Policies and Supplemental Disclosures ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES
Unaudited Interim Financial Information
We have prepared the accompanying consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our consolidated cash flows, operating results, and balance sheets for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for 2025 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 2024 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 healthcare services and production and distribution of video content. Intercompany balances and transactions between consolidated entities are eliminated.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, income taxes, useful lives of equipment, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, inventory valuation, collectability of receivables, impairment of property and equipment and operating leases, valuation and impairment of investments, self-insurance liabilities, viewing patterns of capitalized video content, valuation of derivative instruments, and the determination of when to capitalize certain costs relating to new products or service offerings. Actual results could differ materially from these estimates. We review the useful lives of equipment on an ongoing basis.
Effective January 1, 2025 we changed our estimate of the useful lives of a subset of our servers and networking equipment from six years to five years. The shorter useful lives are due to the increased pace of technology development, particularly in the area of artificial intelligence and machine learning. The effect of this change in estimate for Q3 2025, based on servers and networking equipment that were included in “Property and equipment, net” as of June 30, 2025 and those acquired during the three months ended September 30, 2025, was an increase in depreciation and amortization expense of $392 million and a reduction in net income of $298 million, or $0.03 per basic share and $0.03 per diluted share, which primarily impacted our AWS segment. The effect of this change in estimate for the nine months ended September 30, 2025, based on servers and networking equipment that were included in “Property and equipment, net” as of December 31, 2024 and those acquired during the nine months ended September 30, 2025, was an increase in depreciation and amortization expense of $889 million and a reduction in net income of $677 million, or $0.06 per basic share and $0.06 per diluted share, which primarily impacted our AWS segment.
During Q3 2025, we recorded $2.5 billion of expense related to the settlement of a lawsuit with the Federal Trade Commission (FTC). This charge was recorded in “Other operating expense (income), net” and impacted our North America segment.
For the three and nine months ended September 30, 2025, we recorded approximately $1.8 billion and $2.0 billion of estimated severance costs primarily related to planned role eliminations. These charges increased our payroll and related expenses and were recorded primarily in “Technology and infrastructure,” “Sales and marketing,” and “General and administrative” and impacted all of our segments.
Supplemental Cash Flow Information
The following table shows supplemental cash flow information (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,		Twelve Months Ended
September 30,
202420252024202520242025
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$266 $249 $1,215 $1,008 $2,002 $1,651 
Cash paid for operating leases2,940 4,155 9,116 11,475 11,882 14,700 
Cash paid for interest on finance leases71 76 217 219 291 289 
Cash paid for interest on financing obligations47 52 161 159 207 217 
Cash paid for income taxes, net of refunds2,004 1,136 8,162 6,774 12,359 10,920 
Assets acquired under operating leases3,571 5,057 11,235 13,999 14,212 18,188 
Property and equipment acquired under finance leases, net of remeasurements and modifications186 977 409 1,968 620 2,413 
Increase (decrease) in property and equipment acquired but not yet paid1,622 3,341 4,793 4,849 4,769 7,095 
Earnings Per Share
Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we have a net loss, stock awards are excluded from our calculation of earnings per share as their inclusion would have an antidilutive effect.
The following table shows the calculation of diluted shares (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Shares used in computation of basic earnings per share10,501 10,674 10,447 10,638 
Total dilutive effect of outstanding stock awards234 171 258 177 
Shares used in computation of diluted earnings per share10,735 10,845 10,705 10,815 
Other Income (Expense), Net
Other income (expense), net is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Marketable equity securities valuation gains (losses)$(117)$220 $(1,800)$470 
Equity warrant valuation gains (losses)80 441 (421)653 
Reclassification adjustments for gains (losses) on available-for-sale debt securities — 2,307 (5)5,592 
Upward adjustments relating to equity investments in private companies2 7,226 13 7,312 
Foreign currency gains (losses)17 1 (195)69 
Other, net(9)(9)(310)(44)
Total other income (expense), net$(27)$10,186 $(2,718)$14,052 
The marketable equity securities valuation gain (loss) of $(117) million and $220 million in Q3 2024 and Q3 2025, and $(1.8) billion and $470 million for the nine months ended September 30, 2024 and 2025 is primarily from our equity investment in Rivian Automotive, Inc. (“Rivian”). The reclassification adjustments for the gains on available-for-sale debt securities of $2.3 billion in Q3 2025 and $5.6 billion for the nine months ended September 30, 2025 is primarily from the portions of our convertible notes investments in Anthropic, PBC (“Anthropic”) that were converted to nonvoting preferred stock during Q3 2025 and the nine months ended September 30, 2025. The upward adjustments relating to equity investments in private companies of $7.2 billion in Q3 2025 and $7.3 billion for the nine months ended September 30, 2025 reflect observable changes in prices, primarily from our nonvoting preferred stock in Anthropic.
Inventories
Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out method, and are valued at the lower of cost and net realizable value. This valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category. The inventory valuation allowance, representing a write-down of inventory, was $3.0 billion and $2.9 billion as of December 31, 2024 and September 30, 2025.
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are receivables primarily related to customers, vendors, and prepaid expenses and other current assets. As of December 31, 2024 and September 30, 2025, customer receivables, net, were $34.3 billion and $38.0 billion, vendor receivables, net, were $11.6 billion and $12.5 billion, and other receivables, net, were $3.4 billion and $3.8 billion. Prepaid expenses and other current assets, which include amounts related to non-income taxes and satellite network launch services deposits, were $6.3 billion and $6.8 billion as of December 31, 2024 and September 30, 2025. We currently expense satellite network launch services deposits upon launch to “Technology and infrastructure.”
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. The allowance for doubtful accounts was $2.0 billion and $2.3 billion as of December 31, 2024 and September 30, 2025.
Digital Video and Music Content
Included in “Other assets” on our consolidated balance sheets are the total capitalized costs of video, which is primarily released content, and music, which as of December 31, 2024 and September 30, 2025 were $19.6 billion and $21.5 billion. Total video and music expense was $5.0 billion and $5.5 billion in Q3 2024 and Q3 2025, and $14.2 billion and $15.7 billion for the nine months ended September 30, 2024 and 2025.
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, 2024 was $24.6 billion, of which $15.0 billion was recognized as revenue during the nine months ended September 30, 2025. Included in “Other long-term liabilities” on our consolidated balance sheets was $6.5 billion and $4.1 billion of unearned revenue as of December 31, 2024 and September 30, 2025.
Additionally, we have performance obligations, primarily related to AWS, associated with commitments in customer contracts for future services that have not yet been recognized in our consolidated financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were approximately $200 billion as of September 30, 2025. The weighted-average remaining life of our long-term contracts is 3.8 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
Accounting Pronouncements Not Yet Adopted
In December 2023, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The ASU is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted and can be applied on either a prospective or retroactive basis. We expect to adopt the ASU on a retroactive basis.
In November 2024, the FASB issued an ASU amending existing income statement disclosure guidance, primarily requiring more detailed disclosure for expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The amendments can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our disclosures.
v3.25.3
Financial Instruments
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
Cash, Cash Equivalents, Restricted Cash, and Marketable Securities
As of December 31, 2024 and September 30, 2025, our cash, cash equivalents, restricted cash, and marketable securities primarily consisted of cash, AAA-rated money market funds, U.S. and foreign government and agency securities, other investment grade securities, and marketable equity securities. Cash equivalents and marketable securities are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value:
Level 1—Valuations based on quoted prices for identical assets and liabilities in active markets.
Level 2—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
Level 3—Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.
We measure the fair value of money market funds and certain marketable equity securities based on quoted prices in active markets for identical assets or liabilities. Other marketable securities were valued either based on recent trades of securities in inactive markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data.
The following table summarizes, by major security type, our cash, cash equivalents, restricted cash, and marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in millions):
 December 31, 2024September 30, 2025
  
Total
Estimated
Fair Value		Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$17,055 $15,977 $— $— $15,977 
Level 1 securities:
Money market funds28,282 32,317 — — 32,317 
Equity securities (1)3,318 3,220 
Level 2 securities:
Foreign government and agency securities177 74 — — 74 
U.S. government and agency securities3,401 5,400 7 (23)5,384 
Corporate debt securities50,912 38,810 49 (11)38,848 
Asset-backed securities1,523 1,893 8 (10)1,891 
Other debt securities67 28 — — 28 
$104,735 $94,499 $64 $(44)$97,739 
Less: Restricted cash, cash equivalents, and marketable securities (2)(3,533)(3,542)
Total cash, cash equivalents, and marketable securities$101,202 $94,197 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $(145) million and $153 million in Q3 2024 and Q3 2025, and $(1.8) billion and $341 million for the nine months ended September 30, 2024 and 2025.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable debt securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, standby and trade letters of credit, and licenses of digital media content. We classify cash, cash equivalents, and marketable debt securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 4 — Commitments and Contingencies.”
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of September 30, 2025 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$68,867 $68,860 
Due after one year through five years8,051 8,098 
Due after five years through ten years600 599 
Due after ten years1,004 985 
Total$78,522 $78,542 
Actual maturities may differ from the contractual maturities because borrowers may have certain prepayment conditions.
Non-Marketable Investments
From Q3 2023 to Q4 2024, we invested $5.3 billion in convertible notes from Anthropic, which are classified as available-for-sale and reported at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss)” and as Level 3 assets, and as of December 31, 2024 had an estimated fair value of approximately $13.8 billion. In making these estimates, we utilized valuation methods based on information available, including the rights and obligations of the convertible notes, other outstanding classes of securities, observable transactions such as new securities offerings, estimates of expected time to and type of liquidity events and anticipated securities offerings, and discounts for lack of marketability. Some of these notes converted to nonvoting preferred stock in Q1 2025. As a result of conversions, a significant portion of the unrealized gain associated with the notes as of December 31, 2024 was reclassified and a gain of approximately $3.3 billion was recorded in “Other income (expense), net” in our consolidated statement of operations. The investment in nonvoting preferred stock was initially recorded at its estimated fair value at the time of the conversion and will be accounted for as a component of our equity investments in private companies not accounted for under the equity-method, with future adjustments for observable changes in prices or impairments representing Level 3 fair value measurements recognized in “Other income
(expense), net” on our consolidated statements of operations. In Q2 2025, we invested $1.3 billion in a new convertible note from Anthropic, and will invest an additional $1.4 billion in Q4 2025. In Q3 2025, an additional portion of our notes was converted to nonvoting preferred stock, and as a result of the conversion a portion of the unrealized gain associated with the notes was reclassified and a gain of approximately $2.3 billion was recorded in “Other income (expense), net.” We also recorded an upward adjustment of $7.2 billion to our nonvoting preferred stock in “Other income (expense), net” to reflect observable changes in price. As of September 30, 2025, the amount recorded on our consolidated balance sheet for nonvoting preferred stock was approximately $14.8 billion. As of September 30, 2025, the estimated fair value of our convertible notes recorded on our consolidated balance sheet was approximately $23.7 billion, and the associated unrealized gain included in “Accumulated other comprehensive income (loss)” was $18.8 billion. We also have a commercial arrangement primarily for the provision of AWS cloud services, which includes the use of AWS chips.
As of December 31, 2024 and September 30, 2025, equity investments in private companies not accounted for under the equity-method, which primarily relate to nonvoting preferred stock in Anthropic, had a carrying value of $989 million and $16.0 billion, with adjustments for observable changes in prices or impairments representing Level 3 fair value measurements recognized in “Other income (expense), net” on our consolidated statements of operations.
As of December 31, 2024 and September 30, 2025, equity investments accounted for under the equity-method of accounting, including investments for which we have elected the fair value option, had a carrying value of $1.2 billion and $1.1 billion.
We hold equity warrants giving us the right to acquire stock of other companies. As of December 31, 2024 and September 30, 2025, these warrants had a fair value of $2.7 billion and $2.9 billion, with gains and losses recognized in “Other income (expense), net” on our consolidated statements of operations. These warrants are classified as Level 2 and 3 assets.
These non-marketable investments are included within “Other assets” on our consolidated balance sheets.
Certain of our investments represent a variable interest in an entity for which we do not consolidate because we are not the primary beneficiary.
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, 2024September 30, 2025
Cash and cash equivalents$78,779 $66,922 
Restricted cash included in accounts receivable, net and other247 302 
Restricted cash included in other assets3,286 3,240 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$82,312 $70,464 
v3.25.3
Leases
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases LEASES
We have entered into non-cancellable operating and finance leases for fulfillment network, data center, office, and physical store facilities as well as server and networking equipment, aircraft, and vehicles. Gross assets acquired under finance leases, including those where title transfers at the end of the lease, are recorded in “Property and equipment, net” and were $56.5 billion and $56.0 billion as of December 31, 2024 and September 30, 2025. Accumulated amortization associated with finance leases was $41.8 billion and $41.1 billion as of December 31, 2024 and September 30, 2025.
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2024202520242025
Operating lease cost$3,057 $3,593 $8,807 $10,259 
Finance lease cost:
Amortization of lease assets1,040 813 2,929 2,513 
Interest on lease liabilities70 81 215 224 
Finance lease cost1,110 894 3,144 2,737 
Variable lease cost605 637 1,832 1,992 
Total lease cost$4,772 $5,124 $13,783 $14,988 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2024September 30, 2025
Weighted-average remaining lease term – operating leases10.6 years10.0 years
Weighted-average remaining lease term – finance leases11.9 years12.1 years
Weighted-average discount rate – operating leases3.5 %3.6 %
Weighted-average discount rate – finance leases3.0 %3.2 %
Our lease liabilities were as follows (in millions):
December 31, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,294 $12,520 $107,814 
Less: imputed interest(15,698)(1,918)(17,616)
Present value of lease liabilities79,596 10,602 90,198 
Less: current portion of lease liabilities(10,546)(1,375)(11,921)
Total long-term lease liabilities$69,050 $9,227 $78,277 
September 30, 2025
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$103,025 $14,052 $117,077 
Less: imputed interest(16,792)(2,287)(19,079)
Present value of lease liabilities86,233 11,765 97,998 
Less: current portion of lease liabilities(11,873)(1,448)(13,321)
Total long-term lease liabilities$74,360 $10,317 $84,677 
Leases LEASES
We have entered into non-cancellable operating and finance leases for fulfillment network, data center, office, and physical store facilities as well as server and networking equipment, aircraft, and vehicles. Gross assets acquired under finance leases, including those where title transfers at the end of the lease, are recorded in “Property and equipment, net” and were $56.5 billion and $56.0 billion as of December 31, 2024 and September 30, 2025. Accumulated amortization associated with finance leases was $41.8 billion and $41.1 billion as of December 31, 2024 and September 30, 2025.
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2024202520242025
Operating lease cost$3,057 $3,593 $8,807 $10,259 
Finance lease cost:
Amortization of lease assets1,040 813 2,929 2,513 
Interest on lease liabilities70 81 215 224 
Finance lease cost1,110 894 3,144 2,737 
Variable lease cost605 637 1,832 1,992 
Total lease cost$4,772 $5,124 $13,783 $14,988 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2024September 30, 2025
Weighted-average remaining lease term – operating leases10.6 years10.0 years
Weighted-average remaining lease term – finance leases11.9 years12.1 years
Weighted-average discount rate – operating leases3.5 %3.6 %
Weighted-average discount rate – finance leases3.0 %3.2 %
Our lease liabilities were as follows (in millions):
December 31, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,294 $12,520 $107,814 
Less: imputed interest(15,698)(1,918)(17,616)
Present value of lease liabilities79,596 10,602 90,198 
Less: current portion of lease liabilities(10,546)(1,375)(11,921)
Total long-term lease liabilities$69,050 $9,227 $78,277 
September 30, 2025
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$103,025 $14,052 $117,077 
Less: imputed interest(16,792)(2,287)(19,079)
Present value of lease liabilities86,233 11,765 97,998 
Less: current portion of lease liabilities(11,873)(1,448)(13,321)
Total long-term lease liabilities$74,360 $10,317 $84,677 
v3.25.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Commitments
The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of September 30, 2025 (in millions): 
 Three Months Ended December 31,Year Ended December 31,  
 20252026202720282029ThereafterTotal
Long-term debt principal and interest$1,914 $4,518 $10,548 $3,688 $4,388 $57,813 $82,869 
Operating lease liabilities4,347 13,414 12,434 11,312 10,207 51,311 103,025 
Finance lease liabilities, including interest458 1,665 1,524 1,521 1,187 7,697 14,052 
Financing obligations, including interest (1)91 532 540 548 557 6,556 8,824 
Leases not yet commenced996 4,856 5,868 5,089 4,995 53,217 75,021 
Unconditional purchase obligations (2)5,897 14,864 8,697 6,288 5,722 31,465 72,933 
Other commitments (3)1,259 2,292 1,330 1,079 1,005 12,313 19,278 
Total commitments$14,962 $42,141 $40,941 $29,525 $28,061 $220,372 $376,002 
___________________
(1)Includes non-cancellable financing obligations for fulfillment network and data center facilities. Excluding interest, current financing obligations of $312 million and $281 million are recorded within “Accrued expenses and other” and $7.1 billion and $7.2 billion are recorded within “Other long-term liabilities” as of December 31, 2024 and September 30, 2025. The weighted-average remaining term of the financing obligations was 16.1 years and 15.3 years and the weighted-average imputed interest rate was 3.1% as of December 31, 2024 and September 30, 2025.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content, procure energy, acquire property and equipment, and license software that are not reflected on the consolidated balance sheets. For those agreements with variable terms, we do not estimate the total obligation beyond any minimum quantities and/or pricing, or termination penalties, 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. Energy agreements based on actual generation without a fixed or minimum volume commitment are not included. Certain of our energy agreements also provide the right to receive energy certificates.
(3)Includes asset retirement obligations, the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction, and liabilities associated with digital media content agreements with initial terms greater than one year. Excludes approximately $5.9 billion of income tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
Other Contingencies
We are disputing claims and denials of refunds or credits, and monitoring or evaluating potential claims, related to various non-income taxes (such as sales, value added, consumption, service, and similar taxes), including in jurisdictions in which we already collect and remit these taxes. These non-income tax controversies typically include (i) the taxability of products and services, including cross-border intercompany transactions, (ii) collection and withholding on transactions with third parties, including as a result of evolving requirements imposed on marketplaces with respect to third-party sellers, and (iii) the adequacy of compliance with reporting obligations, including evolving documentation requirements. Due to the inherent complexity and uncertainty of these matters and the judicial and regulatory processes in certain jurisdictions, the final outcome of any such controversies may be materially different from our expectations.
Legal Proceedings
The Company is involved from time to time in claims, proceedings, and litigation, including the matters described in Item 8 of Part II, “Financial Statements and Supplementary Data — Note 7 — Commitments and Contingencies — Legal Proceedings” of our 2024 Annual Report on Form 10-K and in Item 1 of Part I, “Financial Statements — Note 4 — Commitments and Contingencies — Legal Proceedings” of our Quarterly Reports on Form 10-Q for the periods ended March 31, 2025 and June 30, 2025, as supplemented by the following:
Since March 2020, private litigants, state Attorneys General, and the Federal Trade Commission have filed cases in the U.S., Canada, and the United Kingdom alleging, among other things: price fixing arrangements between each of Amazon and its vendors and Amazon and its third-party sellers; abuse of dominance, monopolization, and attempted monopolization; and consumer protection and unjust enrichment claims, in violation of federal and state antitrust, state consumer protection, and
Canadian and U.K. antitrust laws. The first of these complaints was Frame-Wilson v. Amazon.com, Inc., which was filed in the United States District Court for the Western District of Washington (“W.D. Wash.”). These complaints seek billions of dollars of alleged damages, treble damages, punitive damages, injunctive relief, structural relief, civil penalties, attorneys’ fees, and costs. Some of the private plaintiff cases include allegations of 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. Some of the cases include allegations that Amazon has a monopoly in markets for online superstores, marketplace services, or intermediation services and that we unlawfully engage in anticompetitive practices relating to our pricing policies, selection of the Featured Offers, use of seller data, advertising practices, the structure of Prime, and promotion of our own products on our website. In the U.S., most of Amazon’s motions to dismiss were granted in part, but in each case, at least some of the claims survived. In Canada, class certification was denied in a case before the Federal Court of Canada, finding that plaintiffs had not stated a viable claim, and plaintiffs’ appeal of that ruling is pending. Two Canadian class actions before other courts are pre-certification. In the United Kingdom, two class actions have been certified and a third is pre-certification. In the U.S., one class action has been certified, and three others are pre-certification. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
In December 2021, the Italian Competition Authority (the “ICA”) issued a decision against Amazon Services Europe S.à r.l., Amazon Europe Core S.à r.l., Amazon EU S.à r.l., Amazon Italia Services S.r.l., and Amazon Italia Logistica S.r.l. claiming that certain of our marketplace and logistics practices in Italy infringe EU competition rules. The decision imposes remedial actions and a fine of €1.13 billion, which we have paid and will seek to recover pending conclusion of all appeals. In September 2025, the Italian Administrative Tribunal (the “TAR”) affirmed the ICA’s decision but reduced the fine to €752 million. We believe the TAR’s ruling affirming the ICA’s decision to be without merit and will continue to defend ourselves vigorously in this matter.
In addition, we are regularly subject to claims, litigation, and other proceedings, including potential regulatory proceedings, involving patent and other intellectual property matters, taxes, labor and employment, competition and antitrust, privacy and data protection, consumer protection, commercial disputes, goods and services offered by us and by third parties, and other matters.
The outcomes of our legal proceedings and other contingencies are inherently unpredictable, subject to significant uncertainties, and could be material to our operating results and cash flows for a particular period. We evaluate, on a regular basis, developments in our legal proceedings and other contingencies that could affect the amount of liability, including amounts in excess of any previous accruals and reasonably possible losses disclosed, and make adjustments and changes to our accruals and disclosures as appropriate. For the matters we disclose that do not include an estimate of the amount of loss or range of losses, such an estimate is not possible or is immaterial, and we may be unable to estimate the possible loss or range of losses that could potentially result from the application of non-monetary remedies. Until the final resolution of such matters, if any of our estimates and assumptions change or prove to have been incorrect, we may experience losses in excess of the amounts recorded, which could have a material effect on our business, consolidated financial position, results of operations, or cash flows.
See also “Note 7 — Income Taxes.”
v3.25.3
Debt
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt DEBT
As of September 30, 2025, we had $54.3 billion of unsecured senior notes outstanding (the “Notes”). Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2024September 30, 2025
2014 Notes issuance of $6.0 billion
2034 - 2044
4.80% - 4.95%
4.93% - 5.12%
2,750 2,750 
2017 Notes issuance of $17.0 billion
2027 - 2057
3.15% - 4.25%
3.25% - 4.33%
13,000 12,000 
2020 Notes issuance of $10.0 billion
2027 - 2060
1.20% - 2.70%
1.26% - 2.77%
9,000 7,750 
2021 Notes issuance of $18.5 billion
2026 - 2061
1.00% - 3.25%
1.14% - 3.31%
15,000 15,000 
April 2022 Notes issuance of $12.8 billion
2027 - 2062
3.30% - 4.10%
3.40% - 4.15%
11,250 9,750 
December 2022 Notes issuance of $8.3 billion
2025 - 2032
4.55% - 4.70%
4.61% - 4.74%
7,000 7,000 
Other long-term debt— 847 
Total face value of long-term debt58,000 55,097 
Unamortized discount and issuance costs, net(360)(358)
Less: current portion of long-term debt(5,017)(3,997)
Long-term debt$52,623 $50,742 
___________________
(1) The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, and December 2022 Notes were 14.6, 15.7, 18.4, 13.4, 14.0, and 3.9 years as of September 30, 2025. The combined weighted-average remaining life of the Notes was 13.6 years as of September 30, 2025.
Interest on the Notes is payable semi-annually in arrears. We may redeem the Notes at any time in whole, or from time to time, in part at specified redemption prices. We are not subject to any financial covenants under the Notes. The estimated fair value of the Notes was approximately $50.2 billion and $47.9 billion as of December 31, 2024 and September 30, 2025, which is based on quoted prices for our debt as of those dates.
As of September 30, 2024, we had repaid outstanding borrowings and terminated the secured revolving credit facility with a lender that was secured by certain seller receivables (the “Credit Facility”). The Credit Facility bore interest based on the daily Secured Overnight Financing Rate plus 1.25%, and had a commitment fee of up to 0.45% on the undrawn portion.
In January 2023, we entered into an $8.0 billion unsecured 364-day term loan with a syndicate of lenders (the “Term Loan”), maturing in January 2024 and bearing interest at the Secured Overnight Financing Rate specified in the Term Loan plus 0.75%. The Term Loan was classified as short-term debt and included within “Accrued expenses and other” on our consolidated balance sheets. As of December 31, 2023, the entire amount of the Term Loan had been repaid.
We have U.S. Dollar and Euro commercial paper programs (the “Commercial Paper Programs”) under which we may from time to time issue unsecured commercial paper up to a total of $30.0 billion (including up to €3.0 billion) at the date of issue, with individual maturities that may vary but will not exceed 397 days from the date of issue. In April 2025, we increased the size of the Commercial Paper Programs from $20.0 billion to $30.0 billion. There were no borrowings outstanding under the Commercial Paper Programs as of December 31, 2024 and September 30, 2025. We use the net proceeds from the issuance of commercial paper for general corporate purposes.
We have a $15.0 billion unsecured revolving credit facility with a syndicate of lenders (the “Credit Agreement”), with a term that extends to November 2028 and may be extended for one or more additional one-year terms subject to approval by the lenders. The interest rate applicable to outstanding balances under the Credit Agreement is the applicable benchmark rate specified in the Credit Agreement plus 0.45%, with a commitment fee of 0.03% on the undrawn portion of the credit facility. There were no borrowings outstanding under the Credit Agreement as of December 31, 2024 and September 30, 2025.
As of September 30, 2025, we had a $5.0 billion unsecured 364-day revolving credit facility with a syndicate of lenders (the “2024 Short-Term Credit Agreement”). The interest rate applicable to outstanding balances under the 2024 Short-Term Credit Agreement is the Secured Overnight Financing Rate specified in the 2024 Short-Term Credit Agreement plus 0.45%, with a commitment fee of 0.03% on the undrawn portion. There were no borrowings outstanding under the 2024 Short-Term Credit Agreement as of December 31, 2024 and September 30, 2025. In October 2025, we replaced the 2024 Short-Term Credit Agreement with a new $5.0 billion unsecured 364-day revolving credit facility with a syndicate of lenders on substantially the same terms, which matures in October 2026 and may be extended for one additional period of 364 days subject to approval by the lenders.
We also utilize other short-term credit facilities for working capital purposes. There were $151 million and $220 million of borrowings outstanding under these facilities as of December 31, 2024 and September 30, 2025, which were included in “Accrued expenses and other” on our consolidated balance sheets. In addition, we had $10.6 billion of unused letters of credit as of September 30, 2025.
v3.25.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Stock Repurchase Activity
In March 2022, the Board of Directors authorized a program to repurchase up to $10.0 billion of our common stock, with no fixed expiration. There were no repurchases of our common stock during the nine months ended September 30, 2024 or 2025. As of September 30, 2025, we have $6.1 billion remaining under the repurchase program.
Stock Award Plans
Employees vest in restricted stock unit awards over the corresponding service term, generally between two and five years. The majority of restricted stock unit awards are granted at the date of hire or in Q2 as part of the annual compensation review and primarily vest quarterly in the relevant compensation year.
Stock Award Activity
Common shares outstanding plus shares underlying outstanding stock awards totaled 10.9 billion and 11.0 billion as of December 31, 2024 and September 30, 2025. These totals include all vested and unvested stock awards outstanding, including those awards we estimate will be forfeited. Stock-based compensation expense is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Cost of sales$193 $197 $633 $595 
Fulfillment696 685 2,276 2,062 
Technology and infrastructure2,961 2,697 9,403 8,412 
Sales and marketing1,012 832 3,168 2,692 
General and administrative471 436 1,536 1,309 
Total stock-based compensation expense$5,333 $4,847 $17,016 $15,070 
The following table summarizes our restricted stock unit activity for the nine months ended September 30, 2025 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2024283.1 $145 
Units granted106.6 198 
Units vested(93.9)137 
Units forfeited(27.7)153 
Outstanding as of September 30, 2025268.1 168 
Scheduled vesting for outstanding restricted stock units as of September 30, 2025, is as follows (in millions):
 Three Months Ended December 31,Year Ended December 31,  
 20252026202720282029ThereafterTotal
Scheduled vesting — restricted stock units44.5 112.8 70.9 29.7 8.3 1.9 268.1 
As of September 30, 2025, there was $20.1 billion of net unrecognized compensation cost related to unvested stock-based compensation arrangements. This compensation is recognized on an accelerated basis with more than half of the compensation expected to be expensed in the next twelve months, and has a remaining weighted-average recognition period of 1.0 year.
Changes in Stockholders’ Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Total beginning stockholders’ equity$236,447 $333,775 $201,875 $285,970 
Beginning common stock110 112 109 111 
Stock-based compensation and issuance of employee benefit plan stock— — 1 1 
Ending common stock110 112 110 112 
Beginning and ending treasury stock(7,837)(7,837)(7,837)(7,837)
Beginning additional paid-in capital110,633 130,923 99,025 120,864 
Stock-based compensation and issuance of employee benefit plan stock5,301 4,756 16,909 14,815 
Ending additional paid-in capital115,934 135,679 115,934 135,679 
Beginning accumulated other comprehensive income (loss)(3,993)2,420 (3,040)(34)
Other comprehensive income (loss)2,075 9,913 1,122 12,367 
Ending accumulated other comprehensive income (loss)(1,918)12,333 (1,918)12,333 
Beginning retained earnings137,534 208,157 113,618 172,866 
Net income15,328 21,187 39,244 56,478 
Ending retained earnings152,862 229,344 152,862 229,344 
Total ending stockholders’ equity$259,151 $369,631 $259,151 $369,631 
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Our tax provision or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment.
Our quarterly tax provision, and our quarterly estimate of our annual effective tax rate, is subject to significant variation due to several factors, including variability in accurately predicting our pre-tax and taxable income and loss and the mix of jurisdictions to which they relate, intercompany transactions, the applicability of special tax regimes, changes in how we do business, acquisitions, investments, developments in tax controversies, changes in our stock price, changes in our deferred tax assets and liabilities and their valuation, foreign currency gains (losses), changes in statutes, regulations, case law, and administrative practices, principles, and interpretations related to tax, including changes to the global tax framework, competition, and other laws and accounting rules in various jurisdictions, and relative changes of expenses or losses for which tax benefits are not recognized. Our effective tax rate can be more or less volatile based on the amount of pre-tax income or loss. For example, the impact of discrete items and non-deductible expenses on our effective tax rate is greater when our pre-tax income is lower. In addition, we record valuation allowances against deferred tax assets when there is uncertainty about our ability to generate future income in relevant jurisdictions.
The One Big Beautiful Bill Act of 2025 (the “2025 Tax Act”) was signed into law on July 4, 2025. The 2025 Tax Act makes changes to the U.S. corporate income tax, including reinstating the option to claim 100% accelerated depreciation deductions on qualified property, with retroactive application beginning January 20, 2025, and immediate expensing of domestic research and development costs, with retroactive application beginning January 1, 2025. The 2025 Tax Act increased our income tax provision for the nine months ended September 30, 2025, primarily due to a decrease in the foreign income deduction, and will significantly decrease our cash taxes in 2025.
For 2025, we estimate that our effective tax rate will be favorably impacted by the U.S. federal research and development credit and adversely affected by state income taxes.
Our income tax provision for the nine months ended September 30, 2024 was $6.9 billion, which included $2.4 billion of net discrete tax benefits primarily attributable to excess tax benefits from stock-based compensation. Our income tax provision
for the nine months ended September 30, 2025 was $14.1 billion, which included $354 million of net discrete tax expense primarily attributable to the net gains from our investments in Anthropic, partially offset by excess tax benefits from stock-based compensation.
Cash paid for income taxes, net of refunds was $2.0 billion and $1.1 billion in Q3 2024 and Q3 2025, and $8.2 billion and $6.8 billion for the nine months ended September 30, 2024 and 2025.
As of December 31, 2024 and September 30, 2025, income tax contingencies were approximately $6.5 billion and $5.9 billion. Changes in tax laws, regulations, administrative practices, principles, and interpretations may impact our tax contingencies. Due to various factors, including the inherent complexities and uncertainties of the judicial, administrative, and regulatory processes in certain jurisdictions, the timing of the resolution of income tax controversies is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next twelve months we will receive additional assessments by various tax authorities or possibly reach resolution of income tax controversies in one or more jurisdictions. These assessments or settlements could result in changes to our contingencies related to positions on prior years’ tax filings.
We are under examination, or may be subject to examination, by the Internal Revenue Service for the calendar year 2016 and thereafter. These examinations may lead to ordinary course adjustments or proposed adjustments to our taxes or our net operating losses with respect to years under examination as well as subsequent periods.
We are also subject to taxation in various states and foreign jurisdictions including China, France, Germany, India, Japan, Luxembourg, and the United Kingdom. We are under, or may be subject to, audit or examination and additional assessments by the relevant authorities in respect of these particular jurisdictions primarily for 2011 and thereafter. We are currently disputing tax assessments in multiple jurisdictions, including with respect to the allocation and characterization of income.
In September 2022, the Luxembourg tax authority (“LTA”) denied the tax basis of certain intangible assets that we distributed from Luxembourg to the U.S. in 2021. When we are assessed by the LTA, we will need to remit taxes related to this matter. We believe the LTA’s position is without merit, we intend to defend ourselves vigorously in this matter, and we expect to recoup taxes paid.
The Indian tax authority (“ITA”) has asserted that tax applies to cloud services fees paid to Amazon in the U.S. We will need to remit taxes related to this matter until it is resolved, which payments could be significant in the aggregate. We believe the ITA’s position is without merit, we are defending our position vigorously, and we expect to recoup taxes paid. If this matter is adversely resolved, we could recognize significant additional tax expense, including for taxes previously paid.
v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
We have organized our operations into three segments: North America, International, and AWS. We allocate to segment results the operating expenses “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” and “General and administrative” based on usage, which is generally reflected in the segment in which the costs are incurred. The majority of technology costs recorded in “Technology and infrastructure” are incurred in the U.S. and are included in our North America and AWS segments. The majority of infrastructure costs recorded in “Technology and infrastructure” are allocated to the AWS segment based on usage. There are no internal revenue transactions between our reportable segments. Our chief operating decision maker (“CODM”) is our President and Chief Executive Officer. Our CODM regularly reviews consolidated net sales, consolidated operating expenses, and consolidated operating income (loss) by segment. Amounts included in consolidated operating expenses include “Cost of sales,” “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” “General and administrative,” and “Other operating expense (income), net.” Our CODM manages our business primarily by reviewing consolidated results by segment on a quarterly basis, and using those results along with forecasts and other non-financial information in our annual budgeting process.
North America
The North America segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through North America-focused online and physical stores. This segment includes export sales from these online stores.
International
The International segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through internationally-focused online stores. This segment includes export sales from these internationally-focused online stores (including export sales from these online stores to customers in the U.S., Mexico, and Canada), but excludes export sales from our North America-focused online stores.
AWS
The AWS segment consists of amounts earned from global sales of compute, storage, database, and other services for start-ups, enterprises, government agencies, and academic institutions.
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
North America
Net sales$95,537 $106,267 $271,911 $299,222 
Operating expenses89,874 101,478 256,200 281,075 
Operating income$5,663 $4,789 $15,711 $18,147 
International
Net sales$35,888 $40,896 $99,486 $111,170 
Operating expenses34,587 39,697 97,009 107,460 
Operating income$1,301 $1,199 $2,477 $3,710 
AWS
Net sales$27,452 $33,006 $78,770 $93,146 
Operating expenses17,005 21,572 49,568 60,005 
Operating income$10,447 $11,434 $29,202 $33,141 
Consolidated
Net sales$158,877 $180,169 $450,167 $503,538 
Operating expenses141,466 162,747 402,777 448,540 
Operating income17,411 17,422 47,390 54,998 
Total non-operating income (expense)626 10,748 (1,125)15,708 
Provision for income taxes(2,706)(6,910)(6,940)(14,141)
Equity-method investment activity, net of tax(3)(73)(81)(87)
Net income$15,328 $21,187 $39,244 $56,478 
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):    
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Net Sales:
Online stores (1)$61,411 $67,407 $171,473 $186,299 
Physical stores (2)5,228 5,578 15,636 16,706 
Third-party seller services (3)37,864 42,486 108,661 119,346 
Advertising services (4)14,331 17,703 38,926 47,318 
Subscription services (5)11,278 12,574 32,866 36,497 
AWS27,452 33,006 78,770 93,146 
Other (6)1,313 1,415 3,835 4,226 
Consolidated$158,877 $180,169 $450,167 $503,538 
____________________________
(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.
Total segment assets exclude corporate assets, such as cash and cash equivalents, marketable securities, other long-term investments, corporate facilities, goodwill and other acquired intangible assets, and tax assets. Technology infrastructure assets, which are included in property and equipment, net, net additions, and the depreciation and amortization expense on these assets, are allocated among the segments based on usage, with the majority allocated to the AWS segment. Usage of technology infrastructure assets by the North America and International segments, and the related allocation of total net additions, can fluctuate on a quarter-to-quarter basis, and is affected by seasonality, peak periods, new product or service offerings, and other factors.
Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31, 2024September 30, 2025
North America (1)$210,120 $227,984 
International (1)69,487 79,221 
AWS (2)155,953 223,729 
Corporate189,334 196,987 
Consolidated$624,894 $727,921 
___________________
(1)North America and International segment assets primarily consist of property and equipment, operating leases, inventory, accounts receivable, and digital video and music content.
(2)AWS segment assets primarily consist of property and equipment, accounts receivable, and operating leases.
Property and equipment, net by segment is as follows (in millions):
 December 31, 2024September 30, 2025
North America$103,041 $115,661 
International25,618 29,488 
AWS110,683 165,106 
Corporate13,323 14,180 
Consolidated$252,665 $324,435 
Total net additions to property and equipment include technology infrastructure assets and the effect of non-cash activity such as property and equipment acquired but not yet paid.
Total net additions to property and equipment are as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202520242025
North America (1)$6,522 $8,638 $16,602 $25,006 
International (1)2,185 1,439 4,422 5,476 
AWS (2)14,341 28,301 35,023 64,808 
Corporate349 507 1,101 1,805 
Consolidated$23,397 $38,885 $57,148 $97,095 
___________________
(1)Includes property and equipment added under finance leases of $182 million and $432 million in Q3 2024 and Q3 2025, and $324 million and $507 million for the nine months ended September 30, 2024 and 2025.
(2)Includes property and equipment added under finance leases of $4 million and $545 million in Q3 2024 and Q3 2025, and $85 million and $1.5 billion for the nine months ended September 30, 2024 and 2025.
Depreciation and amortization expense on property and equipment, including corporate property and equipment, are allocated to all segments based on usage.
Total depreciation and amortization expense, by segment, is as follows (in millions):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202520242025
North America$3,611 $4,001 $10,501 $11,273 
International1,164 1,276 3,267 3,592 
AWS3,541 5,648 9,458 14,882 
Consolidated$8,316 $10,925 $23,226 $29,747 
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
Accounting Policies and Supplemental Disclosures (Policies)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Unaudited Interim Financial Information
Unaudited Interim Financial Information
We have prepared the accompanying consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our consolidated cash flows, operating results, and balance sheets for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for 2025 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 2024 Annual Report on Form 10-K.
Principles of Consolidation
Principles of Consolidation
The consolidated financial statements include the accounts of Amazon.com, Inc. and its consolidated entities (collectively, the “Company”), consisting of its wholly-owned subsidiaries and those entities in which we have a variable interest and of which we are the primary beneficiary, including certain entities in India and certain entities that support our healthcare services and production and distribution of video content. Intercompany balances and transactions between consolidated entities are eliminated.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, income taxes, useful lives of equipment, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, inventory valuation, collectability of receivables, impairment of property and equipment and operating leases, valuation and impairment of investments, self-insurance liabilities, viewing patterns of capitalized video content, valuation of derivative instruments, and the determination of when to capitalize certain costs relating to new products or service offerings. Actual results could differ materially from these estimates. We review the useful lives of equipment on an ongoing basis.
Effective January 1, 2025 we changed our estimate of the useful lives of a subset of our servers and networking equipment from six years to five years. The shorter useful lives are due to the increased pace of technology development, particularly in the area of artificial intelligence and machine learning.
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.
The following table shows the calculation of diluted shares (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Shares used in computation of basic earnings per share10,501 10,674 10,447 10,638 
Total dilutive effect of outstanding stock awards234 171 258 177 
Shares used in computation of diluted earnings per share10,735 10,845 10,705 10,815 
Inventories
Inventories
Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out method, and are valued at the lower of cost and net realizable value. This valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category. The inventory valuation allowance, representing a write-down of inventory, was $3.0 billion and $2.9 billion as of December 31, 2024 and September 30, 2025.
Accounts Receivable, Net and Other
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are receivables primarily related to customers, vendors, and prepaid expenses and other current assets. As of December 31, 2024 and September 30, 2025, customer receivables, net, were $34.3 billion and $38.0 billion, vendor receivables, net, were $11.6 billion and $12.5 billion, and other receivables, net, were $3.4 billion and $3.8 billion. Prepaid expenses and other current assets, which include amounts related to non-income taxes and satellite network launch services deposits, were $6.3 billion and $6.8 billion as of December 31, 2024 and September 30, 2025. We currently expense satellite network launch services deposits upon launch to “Technology and infrastructure.”
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. The allowance for doubtful accounts was $2.0 billion and $2.3 billion as of December 31, 2024 and September 30, 2025.
Digital Video and Music Content
Digital Video and Music Content
Included in “Other assets” on our consolidated balance sheets are the total capitalized costs of video, which is primarily released content, and music, which as of December 31, 2024 and September 30, 2025 were $19.6 billion and $21.5 billion. Total video and music expense was $5.0 billion and $5.5 billion in Q3 2024 and Q3 2025, and $14.2 billion and $15.7 billion for the nine months ended September 30, 2024 and 2025.
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, 2024 was $24.6 billion, of which $15.0 billion was recognized as revenue during the nine months ended September 30, 2025. Included in “Other long-term liabilities” on our consolidated balance sheets was $6.5 billion and $4.1 billion of unearned revenue as of December 31, 2024 and September 30, 2025.
Additionally, we have performance obligations, primarily related to AWS, associated with commitments in customer contracts for future services that have not yet been recognized in our consolidated financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were approximately $200 billion as of September 30, 2025. The weighted-average remaining life of our long-term contracts is 3.8 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
Accounting Pronouncements Not Yet Adopted
Accounting Pronouncements Not Yet Adopted
In December 2023, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The ASU is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted and can be applied on either a prospective or retroactive basis. We expect to adopt the ASU on a retroactive basis.
In November 2024, the FASB issued an ASU amending existing income statement disclosure guidance, primarily requiring more detailed disclosure for expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The amendments can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our disclosures.
v3.25.3
Accounting Policies and Supplemental Disclosures (Tables)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Supplemental Cash Flow Information
The following table shows supplemental cash flow information (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,		Twelve Months Ended
September 30,
202420252024202520242025
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$266 $249 $1,215 $1,008 $2,002 $1,651 
Cash paid for operating leases2,940 4,155 9,116 11,475 11,882 14,700 
Cash paid for interest on finance leases71 76 217 219 291 289 
Cash paid for interest on financing obligations47 52 161 159 207 217 
Cash paid for income taxes, net of refunds2,004 1,136 8,162 6,774 12,359 10,920 
Assets acquired under operating leases3,571 5,057 11,235 13,999 14,212 18,188 
Property and equipment acquired under finance leases, net of remeasurements and modifications186 977 409 1,968 620 2,413 
Increase (decrease) in property and equipment acquired but not yet paid1,622 3,341 4,793 4,849 4,769 7,095 
Calculation of Diluted Shares
The following table shows the calculation of diluted shares (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Shares used in computation of basic earnings per share10,501 10,674 10,447 10,638 
Total dilutive effect of outstanding stock awards234 171 258 177 
Shares used in computation of diluted earnings per share10,735 10,845 10,705 10,815 
Other Income (Expense), Net
Other income (expense), net is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Marketable equity securities valuation gains (losses)$(117)$220 $(1,800)$470 
Equity warrant valuation gains (losses)80 441 (421)653 
Reclassification adjustments for gains (losses) on available-for-sale debt securities — 2,307 (5)5,592 
Upward adjustments relating to equity investments in private companies2 7,226 13 7,312 
Foreign currency gains (losses)17 1 (195)69 
Other, net(9)(9)(310)(44)
Total other income (expense), net$(27)$10,186 $(2,718)$14,052 
v3.25.3
Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
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, 2024September 30, 2025
  
Total
Estimated
Fair Value		Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$17,055 $15,977 $— $— $15,977 
Level 1 securities:
Money market funds28,282 32,317 — — 32,317 
Equity securities (1)3,318 3,220 
Level 2 securities:
Foreign government and agency securities177 74 — — 74 
U.S. government and agency securities3,401 5,400 7 (23)5,384 
Corporate debt securities50,912 38,810 49 (11)38,848 
Asset-backed securities1,523 1,893 8 (10)1,891 
Other debt securities67 28 — — 28 
$104,735 $94,499 $64 $(44)$97,739 
Less: Restricted cash, cash equivalents, and marketable securities (2)(3,533)(3,542)
Total cash, cash equivalents, and marketable securities$101,202 $94,197 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $(145) million and $153 million in Q3 2024 and Q3 2025, and $(1.8) billion and $341 million for the nine months ended September 30, 2024 and 2025.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable debt securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, standby and trade letters of credit, and licenses of digital media content. We classify cash, cash equivalents, and marketable debt securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 4 — Commitments and Contingencies.”
Investments Classified by Contractual Maturity Date
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of September 30, 2025 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$68,867 $68,860 
Due after one year through five years8,051 8,098 
Due after five years through ten years600 599 
Due after ten years1,004 985 
Total$78,522 $78,542 
Consolidated Statements of Cash Flow Reconciliation - Cash and Cash Equivalents
The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows (in millions):
December 31, 2024September 30, 2025
Cash and cash equivalents$78,779 $66,922 
Restricted cash included in accounts receivable, net and other247 302 
Restricted cash included in other assets3,286 3,240 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$82,312 $70,464 
Consolidated Statements of Cash Flow Reconciliation - Restricted Cash
The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows (in millions):
December 31, 2024September 30, 2025
Cash and cash equivalents$78,779 $66,922 
Restricted cash included in accounts receivable, net and other247 302 
Restricted cash included in other assets3,286 3,240 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$82,312 $70,464 
v3.25.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Lease Cost
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2024202520242025
Operating lease cost$3,057 $3,593 $8,807 $10,259 
Finance lease cost:
Amortization of lease assets1,040 813 2,929 2,513 
Interest on lease liabilities70 81 215 224 
Finance lease cost1,110 894 3,144 2,737 
Variable lease cost605 637 1,832 1,992 
Total lease cost$4,772 $5,124 $13,783 $14,988 
Other Information about Lease Amounts Recognized
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2024September 30, 2025
Weighted-average remaining lease term – operating leases10.6 years10.0 years
Weighted-average remaining lease term – finance leases11.9 years12.1 years
Weighted-average discount rate – operating leases3.5 %3.6 %
Weighted-average discount rate – finance leases3.0 %3.2 %
Lease Liabilities
Our lease liabilities were as follows (in millions):
December 31, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,294 $12,520 $107,814 
Less: imputed interest(15,698)(1,918)(17,616)
Present value of lease liabilities79,596 10,602 90,198 
Less: current portion of lease liabilities(10,546)(1,375)(11,921)
Total long-term lease liabilities$69,050 $9,227 $78,277 
September 30, 2025
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$103,025 $14,052 $117,077 
Less: imputed interest(16,792)(2,287)(19,079)
Present value of lease liabilities86,233 11,765 97,998 
Less: current portion of lease liabilities(11,873)(1,448)(13,321)
Total long-term lease liabilities$74,360 $10,317 $84,677 
v3.25.3
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Principal Contractual Commitments, Excluding Open Orders for Purchases
The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of September 30, 2025 (in millions): 
 Three Months Ended December 31,Year Ended December 31,  
 20252026202720282029ThereafterTotal
Long-term debt principal and interest$1,914 $4,518 $10,548 $3,688 $4,388 $57,813 $82,869 
Operating lease liabilities4,347 13,414 12,434 11,312 10,207 51,311 103,025 
Finance lease liabilities, including interest458 1,665 1,524 1,521 1,187 7,697 14,052 
Financing obligations, including interest (1)91 532 540 548 557 6,556 8,824 
Leases not yet commenced996 4,856 5,868 5,089 4,995 53,217 75,021 
Unconditional purchase obligations (2)5,897 14,864 8,697 6,288 5,722 31,465 72,933 
Other commitments (3)1,259 2,292 1,330 1,079 1,005 12,313 19,278 
Total commitments$14,962 $42,141 $40,941 $29,525 $28,061 $220,372 $376,002 
___________________
(1)Includes non-cancellable financing obligations for fulfillment network and data center facilities. Excluding interest, current financing obligations of $312 million and $281 million are recorded within “Accrued expenses and other” and $7.1 billion and $7.2 billion are recorded within “Other long-term liabilities” as of December 31, 2024 and September 30, 2025. The weighted-average remaining term of the financing obligations was 16.1 years and 15.3 years and the weighted-average imputed interest rate was 3.1% as of December 31, 2024 and September 30, 2025.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content, procure energy, acquire property and equipment, and license software that are not reflected on the consolidated balance sheets. For those agreements with variable terms, we do not estimate the total obligation beyond any minimum quantities and/or pricing, or termination penalties, 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. Energy agreements based on actual generation without a fixed or minimum volume commitment are not included. Certain of our energy agreements also provide the right to receive energy certificates.
(3)Includes asset retirement obligations, the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction, and liabilities associated with digital media content agreements with initial terms greater than one year. Excludes approximately $5.9 billion of income tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
v3.25.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Long-Term Debt Obligations
As of September 30, 2025, we had $54.3 billion of unsecured senior notes outstanding (the “Notes”). Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2024September 30, 2025
2014 Notes issuance of $6.0 billion
2034 - 2044
4.80% - 4.95%
4.93% - 5.12%
2,750 2,750 
2017 Notes issuance of $17.0 billion
2027 - 2057
3.15% - 4.25%
3.25% - 4.33%
13,000 12,000 
2020 Notes issuance of $10.0 billion
2027 - 2060
1.20% - 2.70%
1.26% - 2.77%
9,000 7,750 
2021 Notes issuance of $18.5 billion
2026 - 2061
1.00% - 3.25%
1.14% - 3.31%
15,000 15,000 
April 2022 Notes issuance of $12.8 billion
2027 - 2062
3.30% - 4.10%
3.40% - 4.15%
11,250 9,750 
December 2022 Notes issuance of $8.3 billion
2025 - 2032
4.55% - 4.70%
4.61% - 4.74%
7,000 7,000 
Other long-term debt— 847 
Total face value of long-term debt58,000 55,097 
Unamortized discount and issuance costs, net(360)(358)
Less: current portion of long-term debt(5,017)(3,997)
Long-term debt$52,623 $50,742 
___________________
(1) The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, and December 2022 Notes were 14.6, 15.7, 18.4, 13.4, 14.0, and 3.9 years as of September 30, 2025. The combined weighted-average remaining life of the Notes was 13.6 years as of September 30, 2025.
v3.25.3
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Stock-Based Compensation Expense Stock-based compensation expense is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Cost of sales$193 $197 $633 $595 
Fulfillment696 685 2,276 2,062 
Technology and infrastructure2,961 2,697 9,403 8,412 
Sales and marketing1,012 832 3,168 2,692 
General and administrative471 436 1,536 1,309 
Total stock-based compensation expense$5,333 $4,847 $17,016 $15,070 
Restricted Stock Unit Activity
The following table summarizes our restricted stock unit activity for the nine months ended September 30, 2025 (in millions):
Number of UnitsWeighted-Average
Grant-Date
Fair Value
Outstanding as of December 31, 2024283.1 $145 
Units granted106.6 198 
Units vested(93.9)137 
Units forfeited(27.7)153 
Outstanding as of September 30, 2025268.1 168 
Scheduled Vesting for Outstanding Restricted Stock Units
Scheduled vesting for outstanding restricted stock units as of September 30, 2025, is as follows (in millions):
 Three Months Ended December 31,Year Ended December 31,  
 20252026202720282029ThereafterTotal
Scheduled vesting — restricted stock units44.5 112.8 70.9 29.7 8.3 1.9 268.1 
Changes in Stockholders' Equity
The following table shows changes in stockholders’ equity (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Total beginning stockholders’ equity$236,447 $333,775 $201,875 $285,970 
Beginning common stock110 112 109 111 
Stock-based compensation and issuance of employee benefit plan stock— — 1 1 
Ending common stock110 112 110 112 
Beginning and ending treasury stock(7,837)(7,837)(7,837)(7,837)
Beginning additional paid-in capital110,633 130,923 99,025 120,864 
Stock-based compensation and issuance of employee benefit plan stock5,301 4,756 16,909 14,815 
Ending additional paid-in capital115,934 135,679 115,934 135,679 
Beginning accumulated other comprehensive income (loss)(3,993)2,420 (3,040)(34)
Other comprehensive income (loss)2,075 9,913 1,122 12,367 
Ending accumulated other comprehensive income (loss)(1,918)12,333 (1,918)12,333 
Beginning retained earnings137,534 208,157 113,618 172,866 
Net income15,328 21,187 39,244 56,478 
Ending retained earnings152,862 229,344 152,862 229,344 
Total ending stockholders’ equity$259,151 $369,631 $259,151 $369,631 
v3.25.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Information on Reportable Segments and Reconciliation to Consolidated Net Income
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
North America
Net sales$95,537 $106,267 $271,911 $299,222 
Operating expenses89,874 101,478 256,200 281,075 
Operating income$5,663 $4,789 $15,711 $18,147 
International
Net sales$35,888 $40,896 $99,486 $111,170 
Operating expenses34,587 39,697 97,009 107,460 
Operating income$1,301 $1,199 $2,477 $3,710 
AWS
Net sales$27,452 $33,006 $78,770 $93,146 
Operating expenses17,005 21,572 49,568 60,005 
Operating income$10,447 $11,434 $29,202 $33,141 
Consolidated
Net sales$158,877 $180,169 $450,167 $503,538 
Operating expenses141,466 162,747 402,777 448,540 
Operating income17,411 17,422 47,390 54,998 
Total non-operating income (expense)626 10,748 (1,125)15,708 
Provision for income taxes(2,706)(6,910)(6,940)(14,141)
Equity-method investment activity, net of tax(3)(73)(81)(87)
Net income$15,328 $21,187 $39,244 $56,478 
Disaggregation of Revenue
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):    
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202520242025
Net Sales:
Online stores (1)$61,411 $67,407 $171,473 $186,299 
Physical stores (2)5,228 5,578 15,636 16,706 
Third-party seller services (3)37,864 42,486 108,661 119,346 
Advertising services (4)14,331 17,703 38,926 47,318 
Subscription services (5)11,278 12,574 32,866 36,497 
AWS27,452 33,006 78,770 93,146 
Other (6)1,313 1,415 3,835 4,226 
Consolidated$158,877 $180,169 $450,167 $503,538 
____________________________
(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.
Reconciliation of Assets from Segment to Consolidated
Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31, 2024September 30, 2025
North America (1)$210,120 $227,984 
International (1)69,487 79,221 
AWS (2)155,953 223,729 
Corporate189,334 196,987 
Consolidated$624,894 $727,921 
___________________
(1)North America and International segment assets primarily consist of property and equipment, operating leases, inventory, accounts receivable, and digital video and music content.
(2)AWS segment assets primarily consist of property and equipment, accounts receivable, and operating leases.
Reconciliation of Property and Equipment from Segments to Consolidated
Property and equipment, net by segment is as follows (in millions):
 December 31, 2024September 30, 2025
North America$103,041 $115,661 
International25,618 29,488 
AWS110,683 165,106 
Corporate13,323 14,180 
Consolidated$252,665 $324,435 
Reconciliation of Property and Equipment Additions and Depreciation from Segments to Consolidated
Total net additions to property and equipment are as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202520242025
North America (1)$6,522 $8,638 $16,602 $25,006 
International (1)2,185 1,439 4,422 5,476 
AWS (2)14,341 28,301 35,023 64,808 
Corporate349 507 1,101 1,805 
Consolidated$23,397 $38,885 $57,148 $97,095 
___________________
(1)Includes property and equipment added under finance leases of $182 million and $432 million in Q3 2024 and Q3 2025, and $324 million and $507 million for the nine months ended September 30, 2024 and 2025.
(2)Includes property and equipment added under finance leases of $4 million and $545 million in Q3 2024 and Q3 2025, and $85 million and $1.5 billion for the nine months ended September 30, 2024 and 2025.
Total depreciation and amortization expense, by segment, is as follows (in millions):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202520242025
North America$3,611 $4,001 $10,501 $11,273 
International1,164 1,276 3,267 3,592 
AWS3,541 5,648 9,458 14,882 
Consolidated$8,316 $10,925 $23,226 $29,747 
v3.25.3
Accounting Policies and Supplemental Disclosures - Use of Estimates (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Jan. 01, 2025
Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]                
Increase in depreciation and amortization $ 16,796 $ 13,442 $ 46,285 $ 37,164 $ 61,916 $ 50,984    
Reduction in net income $ (21,187) $ (15,328) $ (56,478) $ (39,244) $ (76,482) $ (49,868)    
Reduction in basic earnings per share (in usd per share) $ (1.98) $ (1.46) $ (5.31) $ (3.76)        
Reduction in diluted earnings per share (in usd per share) $ (1.95) $ (1.43) $ (5.22) $ (3.67)        
Estimated severance costs $ 1,800   $ 2,000          
Settled Litigation | Federal Trade Commission                
Restructuring Cost and Reserve [Line Items]                
Settlement expense 2,500              
Service Life                
Restructuring Cost and Reserve [Line Items]                
Increase in depreciation and amortization 392   889          
Reduction in net income $ 298   $ 677          
Reduction in basic earnings per share (in usd per share) $ 0.03   $ 0.06          
Reduction in diluted earnings per share (in usd per share) $ 0.03   $ 0.06          
Servers                
Restructuring Cost and Reserve [Line Items]                
Estimated useful lives of assets               6 years
Servers | Service Life                
Restructuring Cost and Reserve [Line Items]                
Estimated useful lives of assets             5 years  
Networking equipment                
Restructuring Cost and Reserve [Line Items]                
Estimated useful lives of assets               6 years
Networking equipment | Service Life                
Restructuring Cost and Reserve [Line Items]                
Estimated useful lives of assets             5 years  
v3.25.3
Accounting Policies and Supplemental Disclosures - Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
SUPPLEMENTAL CASH FLOW INFORMATION:            
Cash paid for interest on debt, net of capitalized interest $ 249 $ 266 $ 1,008 $ 1,215 $ 1,651 $ 2,002
Cash paid for operating leases 4,155 2,940 11,475 9,116 14,700 11,882
Cash paid for interest on finance leases 76 71 219 217 289 291
Cash paid for interest on financing obligations 52 47 159 161 217 207
Cash paid for income taxes, net of refunds 1,136 2,004 6,774 8,162 10,920 12,359
Assets acquired under operating leases 5,057 3,571 13,999 11,235 18,188 14,212
Property and equipment acquired under finance leases, net of remeasurements and modifications 977 186 1,968 409 2,413 620
Increase (decrease) in property and equipment acquired but not yet paid $ 3,341 $ 1,622 $ 4,849 $ 4,793 $ 7,095 $ 4,769
v3.25.3
Accounting Policies and Supplemental Disclosures - Calculation of Diluted Shares (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Accounting Policies [Abstract]        
Shares used in computation of basic earnings per share (in shares) 10,674 10,501 10,638 10,447
Total dilutive effect of outstanding stock awards (in shares) 171 234 177 258
Shares used in computation of diluted earnings per share (in shares) 10,845 10,735 10,815 10,705
v3.25.3
Accounting Policies and Supplemental Disclosures - Other Income (Expense), Net (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Accounting Policies [Abstract]          
Marketable equity securities valuation gains (losses) $ 220   $ (117) $ 470 $ (1,800)
Equity warrant valuation gains (losses) 441   80 653 (421)
Reclassification adjustments for gains (losses) on available-for-sale debt securities 2,307 $ 3,300 0 5,592 (5)
Upward adjustments relating to equity investments in private companies 7,226   2 7,312 13
Foreign currency gains (losses) 1   17 69 (195)
Other, net (9)   (9) (44) (310)
Other income (expense), net $ 10,186   $ (27) $ 14,052 $ (2,718)
v3.25.3
Accounting Policies and Supplemental Disclosures - Inventories (Details) - USD ($)
$ in Billions
Sep. 30, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Inventory valuation allowance $ 2.9 $ 3.0
v3.25.3
Accounting Policies and Supplemental Disclosures - Accounts Receivable, Net and Other (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other $ 61,175 $ 55,451
Prepaid expenses and other current assets 6,800 6,300
Allowance for doubtful accounts 2,300 2,000
Customer receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other 38,000 34,300
Vendor receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other 12,500 11,600
Other receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net and other $ 3,800 $ 3,400
v3.25.3
Accounting Policies and Supplemental Disclosures - Digital Video and Music Content (Details) - USD ($)
$ in Billions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Accounting Policies [Abstract]          
Digital video and music content, capitalized costs $ 21.5   $ 21.5   $ 19.6
Digital video and music content, expense $ 5.5 $ 5.0 $ 15.7 $ 14.2  
v3.25.3
Accounting Policies and Supplemental Disclosures - Unearned Revenue (Details) - USD ($)
$ in Billions
 9 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Unearned revenue   $ 24.6
Unearned revenue, revenue recognized $ 15.0  
Unearned revenue, long-term 4.1 $ 6.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Remaining performance obligation, contracts exceeding one year $ 200.0  
Remaining performance obligation, weighted average remaining life 3 years 9 months 18 days  
v3.25.3
Financial Instruments - Fair Values on Recurring Basis (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Debt Securities, Available-for-sale          
Fixed income securities $ 23,700   $ 23,700    
Equity Securities, FV-NI, Gain (Loss)          
Equity securities, unrealized gain (loss) 153 $ (145) 341 $ (1,800)  
Recurring          
Schedule of Investments [Line Items]          
Cash 15,977   15,977   $ 17,055
Debt Securities, Available-for-sale          
Gross unrealized gains 64   64    
Gross unrealized losses (44)   (44)    
Cash, Cash Equivalents, and Marketable Securities          
Cash, cash equivalents and marketable securities 97,739   97,739   104,735
Cash, cash equivalents and marketable securities, amortized cost 94,499   94,499    
Less: Restricted cash, cash equivalents, and marketable securities (3,542)   (3,542)   (3,533)
Total cash, cash equivalents, and marketable securities 94,197   94,197   101,202
Recurring | Level 1 securities          
Schedule of Investments [Line Items]          
Equity securities 3,220   3,220   3,318
Recurring | Level 1 securities | Money market funds          
Schedule of Investments [Line Items]          
Money market funds 32,317   32,317   28,282
Recurring | Level 1 securities | Money market funds | Money market funds          
Schedule of Investments [Line Items]          
Money market funds 32,317   32,317    
Recurring | Level 2 securities | Foreign government and agency securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 74   74    
Gross unrealized gains 0   0    
Gross unrealized losses 0   0    
Fixed income securities 74   74   177
Recurring | Level 2 securities | U.S. government and agency securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 5,400   5,400    
Gross unrealized gains 7   7    
Gross unrealized losses (23)   (23)    
Fixed income securities 5,384   5,384   3,401
Recurring | Level 2 securities | Corporate debt securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 38,810   38,810    
Gross unrealized gains 49   49    
Gross unrealized losses (11)   (11)    
Fixed income securities 38,848   38,848   50,912
Recurring | Level 2 securities | Asset-backed securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 1,893   1,893    
Gross unrealized gains 8   8    
Gross unrealized losses (10)   (10)    
Fixed income securities 1,891   1,891   1,523
Recurring | Level 2 securities | Other debt securities          
Debt Securities, Available-for-sale          
Fixed income securities, amortized cost 28   28    
Gross unrealized gains 0   0    
Gross unrealized losses 0   0    
Fixed income securities $ 28   $ 28   $ 67
v3.25.3
Financial Instruments - Contractual Maturities (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Amortized Cost  
Due within one year $ 68,867
Due after one year through five years 8,051
Due after five years through ten years 600
Due after ten years 1,004
Amortized cost 78,522
Estimated Fair Value  
Due within one year 68,860
Due after one year through five years 8,098
Due after five years through ten years 599
Due after ten years 985
Estimated fair value $ 78,542
v3.25.3
Financial Instruments - Non-Marketable Equity Investments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 18 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Derivative [Line Items]              
Payments to acquire convertible notes   $ 1,300         $ 5,300
Fair value of convertible notes $ 23,700       $ 23,700    
Reclassification adjustments for gains (losses) on available-for-sale debt securities 2,307   $ 3,300 $ 0 5,592 $ (5)  
Amount of additional investment   $ 1,400          
Equity investments without readily determinable fair values 16,000       16,000   989
Reclassification adjustments for gains (losses) on available-for-sale debt securities         18,800    
Equity method investments 1,100       1,100   1,200
Preferred Stock              
Derivative [Line Items]              
Equity investments without readily determinable fair values 14,800       14,800    
Fair Value, Inputs, Level 3              
Derivative [Line Items]              
Fair value of convertible notes             13,800
Warrant | Level 2 assets              
Derivative [Line Items]              
Fair value of warrant assets $ 2,900       $ 2,900   $ 2,700
v3.25.3
Financial Instruments - Consolidated Statements of Cash Flows Reconciliation (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]              
Cash and cash equivalents $ 66,922   $ 78,779        
Restricted cash included in accounts receivable, net and other 302   247        
Restricted cash included in other assets 3,240   3,286        
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 70,464 $ 61,453 $ 82,312 $ 78,677 $ 71,673 $ 73,890 $ 50,081
v3.25.3
Leases - Additional Information (Details) - USD ($)
$ in Billions
Sep. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Gross assets acquired under finance leases, location Property and equipment, net Property and equipment, net
Gross assets acquired under finance leases $ 56.0 $ 56.5
Accumulated amortization associated with finance leases $ 41.1 $ 41.8
v3.25.3
Leases - Lease Cost (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Leases [Abstract]        
Operating lease cost $ 3,593 $ 3,057 $ 10,259 $ 8,807
Finance lease cost:        
Amortization of lease assets 813 1,040 2,513 2,929
Interest on lease liabilities 81 70 224 215
Finance lease cost 894 1,110 2,737 3,144
Variable lease cost 637 605 1,992 1,832
Total lease cost $ 5,124 $ 4,772 $ 14,988 $ 13,783
v3.25.3
Leases - Other Operating and Finance Lease Information (Details)
Sep. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Weighted-average remaining lease term – operating leases 10 years 10 years 7 months 6 days
Weighted-average remaining lease term – finance leases 12 years 1 month 6 days 11 years 10 months 24 days
Weighted-average discount rate – operating leases 3.60% 3.50%
Weighted-average discount rate – finance leases 3.20% 3.00%
v3.25.3
Leases - Operating and Finance Lease Liability Reconciliation (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Total operating lease liabilities $ 103,025 $ 95,294
Total finance lease liabilities 14,052 12,520
Gross lease liabilities 117,077 107,814
Imputed interest - operating leases (16,792) (15,698)
Imputed interest - finance leases (2,287) (1,918)
Imputed interest (19,079) (17,616)
Present value of operating leases 86,233 79,596
Present value of finance leases 11,765 10,602
Present value of lease liabilities $ 97,998 $ 90,198
Operating lease liability, current, location Accrued expenses and other Accrued expenses and other
Finance lease liability, current location Accrued expenses and other Accrued expenses and other
Current portion of operating lease liabilities $ (11,873) $ (10,546)
Current portion of finance lease liabilities (1,448) (1,375)
Current portion of lease liabilities $ (13,321) $ (11,921)
Operating lease liability, long-term, location Total long-term lease liabilities Total long-term lease liabilities
Finance lease liability, long-term, location Total long-term lease liabilities Total long-term lease liabilities
Total long-term operating lease liabilities $ 74,360 $ 69,050
Total long-term finance lease liabilities 10,317 9,227
Total long-term lease liabilities $ 84,677 $ 78,277
v3.25.3
Commitments and Contingencies - Commitments (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Long-term debt principal and interest    
2025 $ 1,914  
2026 4,518  
2027 10,548  
2028 3,688  
2029 4,388  
Thereafter 57,813  
Total 82,869  
Operating lease liabilities    
2025 4,347  
2026 13,414  
2027 12,434  
2028 11,312  
2029 10,207  
Thereafter 51,311  
Total operating lease liabilities 103,025 $ 95,294
Finance lease liabilities, including interest    
2025 458  
2026 1,665  
2027 1,524  
2028 1,521  
2029 1,187  
Thereafter 7,697  
Total finance lease liabilities 14,052 12,520
Financing obligations, including interest    
2025 91  
2026 532  
2027 540  
2028 548  
2029 557  
Thereafter 6,556  
Total 8,824  
Other commitments    
2025 1,259  
2026 2,292  
2027 1,330  
2028 1,079  
2029 1,005  
Thereafter 12,313  
Total 19,278  
Total commitments    
2025 14,962  
2026 42,141  
2027 40,941  
2028 29,525  
2029 28,061  
Thereafter 220,372  
Total 376,002  
Financing obligations, current 281 312
Financing obligations, noncurrent $ 7,200 $ 7,100
Financing obligations, weighted-average remaining term 15 years 3 months 18 days 16 years 1 month 6 days
Financing obligations, weighted-average imputed interest rate 3.10% 3.10%
Accrued tax contingencies $ 5,900 $ 6,500
Leases not yet commenced    
Leases not yet commenced and Unconditional purchase obligations    
2025 996  
2026 4,856  
2027 5,868  
2028 5,089  
2029 4,995  
Thereafter 53,217  
Total 75,021  
Unconditional purchase obligations    
Leases not yet commenced and Unconditional purchase obligations    
2025 5,897  
2026 14,864  
2027 8,697  
2028 6,288  
2029 5,722  
Thereafter 31,465  
Total $ 72,933  
v3.25.3
Commitments and Contingencies - Legal Proceedings (Details)
€ in Millions
Sep. 30, 2025
EUR (€)
lawsuit
Dec. 31, 2021
EUR (€)
CANADA    
Loss Contingencies [Line Items]    
Number of class action lawsuits in pre-certification 2  
UNITED KINGDOM    
Loss Contingencies [Line Items]    
Number of class action lawsuits in pre-certification 1  
Number of class action lawsuits certified 2  
UNITED STATES    
Loss Contingencies [Line Items]    
Number of class action lawsuits in pre-certification 3  
Number of class action lawsuits certified 1  
Italian Competition Authority Matter | Jury Verdict Which Company Will Appeal    
Loss Contingencies [Line Items]    
Estimate of possible loss | € € 752 € 1,130
v3.25.3
Debt - Long-Term Debt Obligations (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Face value of long-term debt $ 55,097 $ 58,000
Total face value of long-term debt 55,097 58,000
Less: current portion of long-term debt (3,997) (5,017)
Long-term debt 50,742 52,623
Senior Notes    
Debt Instrument [Line Items]    
Face value of long-term debt 54,300  
Total face value of long-term debt 54,300  
Unamortized discount and issuance costs, net $ (358) (360)
Weighted average remaining lives term 13 years 7 months 6 days  
Senior Notes | 2014 Notes issuance of $6.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 6,000  
Face value of long-term debt 2,750 2,750
Total face value of long-term debt $ 2,750 2,750
Weighted average remaining lives term 14 years 7 months 6 days  
Senior Notes | 2014 Notes issuance of $6.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.80%  
Effective Interest Rates 4.93%  
Senior Notes | 2014 Notes issuance of $6.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.95%  
Effective Interest Rates 5.12%  
Senior Notes | 2017 Notes issuance of $17.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 17,000  
Face value of long-term debt 12,000 13,000
Total face value of long-term debt $ 12,000 13,000
Weighted average remaining lives term 15 years 8 months 12 days  
Senior Notes | 2017 Notes issuance of $17.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.15%  
Effective Interest Rates 3.25%  
Senior Notes | 2017 Notes issuance of $17.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.25%  
Effective Interest Rates 4.33%  
Senior Notes | 2020 Notes issuance of $10.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 10,000  
Face value of long-term debt 7,750 9,000
Total face value of long-term debt $ 7,750 9,000
Weighted average remaining lives term 18 years 4 months 24 days  
Senior Notes | 2020 Notes issuance of $10.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 1.20%  
Effective Interest Rates 1.26%  
Senior Notes | 2020 Notes issuance of $10.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 2.70%  
Effective Interest Rates 2.77%  
Senior Notes | 2021 Notes issuance of $18.5 billion    
Debt Instrument [Line Items]    
Issuance amount $ 18,500  
Face value of long-term debt 15,000 15,000
Total face value of long-term debt $ 15,000 15,000
Weighted average remaining lives term 13 years 4 months 24 days  
Senior Notes | 2021 Notes issuance of $18.5 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 1.00%  
Effective Interest Rates 1.14%  
Senior Notes | 2021 Notes issuance of $18.5 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.25%  
Effective Interest Rates 3.31%  
Senior Notes | April 2022 Notes issuance of $12.8 billion    
Debt Instrument [Line Items]    
Issuance amount $ 12,800  
Face value of long-term debt 9,750 11,250
Total face value of long-term debt $ 9,750 11,250
Weighted average remaining lives term 14 years  
Senior Notes | April 2022 Notes issuance of $12.8 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.30%  
Effective Interest Rates 3.40%  
Senior Notes | April 2022 Notes issuance of $12.8 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.10%  
Effective Interest Rates 4.15%  
Senior Notes | December 2022 Notes issuance of $8.3 billion    
Debt Instrument [Line Items]    
Issuance amount $ 8,300  
Face value of long-term debt 7,000 7,000
Total face value of long-term debt $ 7,000 7,000
Weighted average remaining lives term 3 years 10 months 24 days  
Senior Notes | December 2022 Notes issuance of $8.3 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.55%  
Effective Interest Rates 4.61%  
Senior Notes | December 2022 Notes issuance of $8.3 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.70%  
Effective Interest Rates 4.74%  
Other long-term debt    
Debt Instrument [Line Items]    
Face value of long-term debt $ 847 0
Total face value of long-term debt $ 847 $ 0
v3.25.3
Debt - Additional Information (Details)
$ in Millions, € in Billions
 1 Months Ended 9 Months Ended
Oct. 30, 2025
USD ($)
extension
Jan. 31, 2023
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
Apr. 30, 2025
USD ($)
Apr. 30, 2025
EUR (€)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Debt Instrument [Line Items]                
Notes outstanding     $ 55,097         $ 58,000
Short-term debt     $ 220         151
Term Loan | Loans Payable                
Debt Instrument [Line Items]                
Basis spread on variable rate (as a percent)   0.75%            
Issuance amount   $ 8,000            
Debt term   364 days            
Commercial Paper                
Debt Instrument [Line Items]                
Debt term     397 days          
Commercial paper, maximum borrowing capacity         $ 30,000 € 3.0 $ 20,000  
Commercial paper     $ 0         0
The Credit Agreement | Credit Facility                
Debt Instrument [Line Items]                
Basis spread on variable rate (as a percent)     0.45%          
Commitment fee percentage     0.03%          
Revolving credit facility maximum borrowing capacity     $ 15,000          
Short-term debt     $ 0         0
2024 Short Term Credit Agreement | Credit Facility                
Debt Instrument [Line Items]                
Basis spread on variable rate (as a percent)     0.45%          
Commitment fee percentage     0.03%          
Debt term     364 days          
Revolving credit facility maximum borrowing capacity     $ 5,000          
Short-term debt     0         0
2025 Short-Term Credit Agreement | Credit Facility | Subsequent Event                
Debt Instrument [Line Items]                
Debt term 364 days              
Revolving credit facility maximum borrowing capacity $ 5,000              
Additional term 364 days              
Number of term extensions | extension 1              
Senior Notes                
Debt Instrument [Line Items]                
Notes outstanding     54,300          
Estimated fair value of notes     $ 47,900         $ 50,200
Credit Facility | Revolving Credit Facility | October 2016 Revolving Credit Facility                
Debt Instrument [Line Items]                
Basis spread on variable rate (as a percent)       1.25%        
Commitment fee percentage       0.45%        
Credit Facility | Revolving Credit Facility | The Credit Agreement                
Debt Instrument [Line Items]                
Additional term     1 year          
Credit Facility | Letter of Credit | April 2018 Revolving Credit Facility                
Debt Instrument [Line Items]                
Unused letters of credit     $ 10,600          
v3.25.3
Stockholders' Equity - Additional Information (Details) - USD ($)
shares in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Mar. 31, 2022
Class of Stock [Line Items]        
Stock repurchases (in shares) 0.0 0.0    
Stock repurchase, remaining authorized amount $ 6,100,000,000      
Common shares outstanding plus underlying outstanding stock awards (in shares) 11,000.0   10,900.0  
Net unrecognized compensation cost related to unvested stock-based compensation arrangements $ 20,100,000,000      
Compensation expense expected to be expensed in next twelve months expected to exceed, percentage 50.00%      
Net unrecognized compensation cost related to unvested stock-based compensation arrangements, weighted average recognition period (in years) 1 year      
Minimum        
Class of Stock [Line Items]        
Award vesting period 2 years      
Maximum        
Class of Stock [Line Items]        
Award vesting period 5 years      
March 2022 Program        
Class of Stock [Line Items]        
Stock repurchase, authorized amount       $ 10,000,000,000.0
v3.25.3
Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense $ 4,847 $ 5,333 $ 15,070 $ 17,016
Cost of sales        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 197 193 595 633
Fulfillment        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 685 696 2,062 2,276
Technology and infrastructure        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 2,697 2,961 8,412 9,403
Sales and marketing        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 832 1,012 2,692 3,168
General and administrative        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense $ 436 $ 471 $ 1,309 $ 1,536
v3.25.3
Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units
shares in Millions
 9 Months Ended
Sep. 30, 2025
$ / shares
shares
Number of Units  
Beginning balance (in shares) | shares 283.1
Units granted (in shares) | shares 106.6
Units vested (in shares) | shares (93.9)
Units forfeited (in shares) | shares (27.7)
Ending balance (in shares) | shares 268.1
Weighted-Average Grant-Date Fair Value  
Beginning balance (in usd per share) | $ / shares $ 145
Units granted (in usd per share) | $ / shares 198
Units vested (in usd per share) | $ / shares 137
Units forfeited (in usd per share) | $ / shares 153
Ending balance (in usd per share) | $ / shares $ 168
v3.25.3
Stockholders' Equity - Scheduled Vesting for Outstanding Restricted Stock Units (Details) - Restricted Stock Units - shares
shares in Millions
Sep. 30, 2025
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
2025 (in shares) 44.5  
2026 (in shares) 112.8  
2027 (in shares) 70.9  
2028 (in shares) 29.7  
2029 (in shares) 8.3  
Thereafter (in shares) 1.9  
Total (in shares) 268.1 283.1
v3.25.3
Stockholders' Equity - Changes in Stockholders Equity (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Changes in Stockholders' Equity            
Beginning balance $ 333,775 $ 236,447 $ 285,970 $ 201,875 $ 259,151  
Other comprehensive income (loss) 9,913 2,075 12,367 1,122    
Net income 21,187 15,328 56,478 39,244 76,482 $ 49,868
Ending balance 369,631 259,151 369,631 259,151 369,631 259,151
Common stock            
Changes in Stockholders' Equity            
Beginning balance 112 110 111 109 110  
Stock-based compensation and issuance of employee benefit plan stock 0 0 1 1    
Ending balance 112 110 112 110 112 110
Treasury stock            
Changes in Stockholders' Equity            
Beginning balance (7,837) (7,837) (7,837) (7,837) (7,837)  
Ending balance (7,837) (7,837) (7,837) (7,837) (7,837) (7,837)
Additional paid-in capital            
Changes in Stockholders' Equity            
Beginning balance 130,923 110,633 120,864 99,025 115,934  
Stock-based compensation and issuance of employee benefit plan stock 4,756 5,301 14,815 16,909    
Ending balance 135,679 115,934 135,679 115,934 135,679 115,934
Accumulated other comprehensive income (loss)            
Changes in Stockholders' Equity            
Beginning balance 2,420 (3,993) (34) (3,040) (1,918)  
Other comprehensive income (loss) 9,913 2,075 12,367 1,122    
Ending balance 12,333 (1,918) 12,333 (1,918) 12,333 (1,918)
Retained earnings            
Changes in Stockholders' Equity            
Beginning balance 208,157 137,534 172,866 113,618 152,862  
Net income 21,187 15,328 56,478 39,244    
Ending balance $ 229,344 $ 152,862 $ 229,344 $ 152,862 $ 229,344 $ 152,862
v3.25.3
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Income Tax Disclosure [Abstract]              
Provision for income taxes $ 6,910 $ 2,706 $ 14,141 $ 6,940      
Net discrete tax benefit     (354) 2,400      
Cash paid for income taxes, net of refunds 1,136 $ 2,004 6,774 $ 8,162 $ 10,920 $ 12,359  
Tax contingencies $ 5,900   $ 5,900   $ 5,900   $ 6,500
v3.25.3
Segment Information - Reportable Segments and Reconciliation to Consolidated Net Income (Details)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Segment Reporting [Abstract]            
Number of operating segments | segment     3      
Segment Reporting Disclosure [Line Items]            
Net sales $ 180,169 $ 158,877 $ 503,538 $ 450,167    
Operating expenses 162,747 141,466 448,540 402,777    
Operating income 17,422 17,411 54,998 47,390    
Total non-operating income (expense) 10,748 626 15,708 (1,125)    
Provision for income taxes (6,910) (2,706) (14,141) (6,940)    
Equity-method investment activity, net of tax (73) (3) (87) (81)    
Net income 21,187 15,328 56,478 39,244 $ 76,482 $ 49,868
North America            
Segment Reporting Disclosure [Line Items]            
Net sales 106,267 95,537 299,222 271,911    
Operating expenses 101,478 89,874 281,075 256,200    
Operating income 4,789 5,663 18,147 15,711    
International            
Segment Reporting Disclosure [Line Items]            
Net sales 40,896 35,888 111,170 99,486    
Operating expenses 39,697 34,587 107,460 97,009    
Operating income 1,199 1,301 3,710 2,477    
AWS            
Segment Reporting Disclosure [Line Items]            
Net sales 33,006 27,452 93,146 78,770    
Operating expenses 21,572 17,005 60,005 49,568    
Operating income $ 11,434 $ 10,447 $ 33,141 $ 29,202    
v3.25.3
Segment Information - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Total net sales $ 180,169 $ 158,877 $ 503,538 $ 450,167
Online stores        
Disaggregation of Revenue [Line Items]        
Total net sales 67,407 61,411 186,299 171,473
Physical stores        
Disaggregation of Revenue [Line Items]        
Total net sales 5,578 5,228 16,706 15,636
Third-party seller services        
Disaggregation of Revenue [Line Items]        
Total net sales 42,486 37,864 119,346 108,661
Advertising services        
Disaggregation of Revenue [Line Items]        
Total net sales 17,703 14,331 47,318 38,926
Subscription services        
Disaggregation of Revenue [Line Items]        
Total net sales 12,574 11,278 36,497 32,866
AWS        
Disaggregation of Revenue [Line Items]        
Total net sales 33,006 27,452 93,146 78,770
Other        
Disaggregation of Revenue [Line Items]        
Total net sales $ 1,415 $ 1,313 $ 4,226 $ 3,835
v3.25.3
Segment Information - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets $ 727,921 $ 624,894
Operating Segments | North America    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets 227,984 210,120
Operating Segments | International    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets 79,221 69,487
Operating Segments | AWS    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets 223,729 155,953
Corporate    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets $ 196,987 $ 189,334
v3.25.3
Segment Information - Reconciliation of Property and Equipment from Segments to Consolidated (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Property and equipment, net $ 324,435 $ 252,665
Operating Segments | North America    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Property and equipment, net 115,661 103,041
Operating Segments | International    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Property and equipment, net 29,488 25,618
Operating Segments | AWS    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Property and equipment, net 165,106 110,683
Corporate    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Property and equipment, net $ 14,180 $ 13,323
v3.25.3
Segment Information - Reconciliation of Property and Equipment Additions from Segments to Consolidated (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Disclosure [Line Items]        
Property and equipment additions $ 38,885 $ 23,397 $ 97,095 $ 57,148
Operating Segments | North America and International | Assets held under finance leases        
Segment Reporting Disclosure [Line Items]        
Property and equipment additions 432 182 507 324
Operating Segments | North America        
Segment Reporting Disclosure [Line Items]        
Property and equipment additions 8,638 6,522 25,006 16,602
Operating Segments | International        
Segment Reporting Disclosure [Line Items]        
Property and equipment additions 1,439 2,185 5,476 4,422
Operating Segments | AWS        
Segment Reporting Disclosure [Line Items]        
Property and equipment additions 28,301 14,341 64,808 35,023
Operating Segments | AWS | Assets held under finance leases        
Segment Reporting Disclosure [Line Items]        
Property and equipment additions 545 4 1,500 85
Corporate        
Segment Reporting Disclosure [Line Items]        
Property and equipment additions $ 507 $ 349 $ 1,805 $ 1,101
v3.25.3
Segment Information - Depreciation and Amortization Expense, by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Disclosure [Line Items]        
Depreciation and amortization expense $ 10,925 $ 8,316 $ 29,747 $ 23,226
North America        
Segment Reporting Disclosure [Line Items]        
Depreciation and amortization expense 4,001 3,611 11,273 10,501
International        
Segment Reporting Disclosure [Line Items]        
Depreciation and amortization expense 1,276 1,164 3,592 3,267
AWS        
Segment Reporting Disclosure [Line Items]        
Depreciation and amortization expense $ 5,648 $ 3,541 $ 14,882 $ 9,458