AMAZON COM INC, 10-K filed on 2/2/2024
Annual Report
v3.24.0.1
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2023
Jan. 24, 2024
Jun. 30, 2023
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2023    
Current Fiscal Year End Date --12-31    
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 Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
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    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 1,183,684,965,587
Entity Common Stock, Shares Outstanding   10,387,381,291  
Documents Incorporated by Reference
The information required by Part III of this Report, to the extent not set forth herein, is incorporated herein by reference from the registrant’s definitive proxy statement relating to the Annual Meeting of Shareholders to be held in 2024, which definitive proxy statement shall be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates.
    
Amendment Flag false    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001018724    
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Audit Information
 12 Months Ended
Dec. 31, 2023
Audit Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Firm ID 42
Auditor Location Seattle, Washington
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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Cash Flows [Abstract]      
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD $ 54,253 $ 36,477 $ 42,377
OPERATING ACTIVITIES:      
Net income (loss) 30,425 (2,722) 33,364
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 48,663 41,921 34,433
Stock-based compensation 24,023 19,621 12,757
Non-operating expense (income), net (748) 16,966 (14,306)
Deferred income taxes (5,876) (8,148) (310)
Changes in operating assets and liabilities:      
Inventories 1,449 (2,592) (9,487)
Accounts receivable, net and other (8,348) (8,622) (9,145)
Other assets (12,265) (13,275) (9,018)
Accounts payable 5,473 2,945 3,602
Accrued expenses and other (2,428) (1,558) 2,123
Unearned revenue 4,578 2,216 2,314
Net cash provided by (used in) operating activities 84,946 46,752 46,327
INVESTING ACTIVITIES:      
Purchases of property and equipment (52,729) (63,645) (61,053)
Proceeds from property and equipment sales and incentives 4,596 5,324 5,657
Acquisitions, net of cash acquired, non-marketable investments, and other (5,839) (8,316) (1,985)
Sales and maturities of marketable securities 5,627 31,601 59,384
Purchases of marketable securities (1,488) (2,565) (60,157)
Net cash provided by (used in) investing activities (49,833) (37,601) (58,154)
FINANCING ACTIVITIES:      
Common stock repurchased 0 (6,000) 0
Proceeds from short-term debt, and other 18,129 41,553 7,956
Repayments of short-term debt, and other (25,677) (37,554) (7,753)
Proceeds from long-term debt 0 21,166 19,003
Repayments of long-term debt (3,676) (1,258) (1,590)
Principal repayments of finance leases (4,384) (7,941) (11,163)
Principal repayments of financing obligations (271) (248) (162)
Net cash provided by (used in) financing activities (15,879) 9,718 6,291
Foreign currency effect on cash, cash equivalents, and restricted cash 403 (1,093) (364)
Net increase (decrease) in cash, cash equivalents, and restricted cash 19,637 17,776 (5,900)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD $ 73,890 $ 54,253 $ 36,477
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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Total net sales $ 574,785 $ 513,983 $ 469,822
Operating expenses:      
Cost of sales 304,739 288,831 272,344
Fulfillment 90,619 84,299 75,111
Technology and infrastructure 85,622 73,213 56,052
Sales and marketing 44,370 42,238 32,551
General and administrative 11,816 11,891 8,823
Other operating expense (income), net 767 1,263 62
Total operating expenses 537,933 501,735 444,943
Operating income 36,852 12,248 24,879
Interest income 2,949 989 448
Interest expense (3,182) (2,367) (1,809)
Other income (expense), net 938 (16,806) 14,633
Total non-operating income (expense) 705 (18,184) 13,272
Income (loss) before income taxes 37,557 (5,936) 38,151
Benefit (provision) for income taxes (7,120) 3,217 (4,791)
Equity-method investment activity, net of tax (12) (3) 4
Net income (loss) $ 30,425 $ (2,722) $ 33,364
Basic earnings per share (in dollars per share) $ 2.95 $ (0.27) $ 3.30
Diluted earnings per share (in dollars per share) $ 2.90 $ (0.27) $ 3.24
Weighted-average shares used in computation of earnings per share:      
Basic (in shares) 10,304 10,189 10,117
Diluted (in shares) 10,492 10,189 10,296
Net product sales      
Total net sales $ 255,887 $ 242,901 $ 241,787
Net service sales      
Total net sales $ 318,898 $ 271,082 $ 228,035
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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 30,425 $ (2,722) $ 33,364
Other comprehensive income (loss):      
Foreign currency translation adjustments, net of tax of $47, $100, and $(55) 1,027 (2,586) (819)
Available-for-sale debt securities:      
Change in net unrealized gains (losses), net of tax of $72, $159, and $(110) 366 (823) (343)
Less: reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $13, $0, and $(15) 50 298 (34)
Net change 416 (525) (377)
Other, net of tax of $0, $0, and $(1) 4 0 0
Other comprehensive income (loss) 1,447 (3,111) (1,196)
Comprehensive income (loss) $ 31,872 $ (5,833) $ 32,168
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Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Foreign currency translation adjustments, tax $ (55) $ 100 $ 47
Unrealized gains (losses), tax (110) 159 72
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” tax (15) 0 13
Other, tax $ (1) $ 0 $ 0
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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 73,387 $ 53,888
Marketable securities 13,393 16,138
Inventories 33,318 34,405
Accounts receivable, net and other 52,253 42,360
Total current assets 172,351 146,791
Property and equipment, net 204,177 186,715
Operating leases 72,513 66,123
Goodwill 22,789 20,288
Other assets 56,024 42,758
Total assets 527,854 462,675
Current liabilities:    
Accounts payable 84,981 79,600
Accrued expenses and other 64,709 62,566
Unearned revenue 15,227 13,227
Total current liabilities 164,917 155,393
Long-term lease liabilities 77,297 72,968
Long-term debt 58,314 67,150
Other long-term liabilities 25,451 21,121
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding) 0 0
Common stock ($0.01 par value; 100,000 shares authorized; 10,757 and 10,898 shares issued; 10,242 and 10,383 shares outstanding) 109 108
Treasury stock, at cost (7,837) (7,837)
Additional paid-in capital 99,025 75,066
Accumulated other comprehensive income (loss) (3,040) (4,487)
Retained earnings 113,618 83,193
Total stockholders’ equity 201,875 146,043
Total liabilities and stockholders’ equity $ 527,854 $ 462,675
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Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]    
Preferred stock, par value (in usd per share) $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 500,000,000 500,000,000
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 100,000,000,000 100,000,000,000
Common stock, issued (in shares) 10,898,000,000 10,757,000,000
Common stock, outstanding (in shares) 10,383,000,000 10,242,000,000
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Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Treasury Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Beginning Balance (in shares) at Dec. 31, 2020   10,066        
Beginning Balance at Dec. 31, 2020 $ 93,404 $ 105 $ (1,837) $ 42,765 $ (180) $ 52,551
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 33,364         33,364
Other comprehensive income (loss) (1,196)       (1,196)  
Stock-based compensation and issuance of employee benefit plan stock (in shares)   109        
Stock-based compensation and issuance of employee benefit plan stock 12,673 $ 1   12,672    
Ending Balance (in shares) at Dec. 31, 2021   10,175        
Ending Balance at Dec. 31, 2021 138,245 $ 106 (1,837) 55,437 (1,376) 85,915
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) (2,722)         (2,722)
Other comprehensive income (loss) (3,111)       (3,111)  
Stock-based compensation and issuance of employee benefit plan stock (in shares)   113        
Stock-based compensation and issuance of employee benefit plan stock 19,631 $ 2   19,629    
Common stock repurchased (in shares)   (46)        
Common stock repurchased $ (6,000)   (6,000)      
Ending Balance (in shares) at Dec. 31, 2022 10,242 10,242        
Ending Balance at Dec. 31, 2022 $ 146,043 $ 108 (7,837) 75,066 (4,487) 83,193
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 30,425         30,425
Other comprehensive income (loss) 1,447       1,447  
Stock-based compensation and issuance of employee benefit plan stock (in shares)   141        
Stock-based compensation and issuance of employee benefit plan stock $ 23,960 $ 1   23,959    
Ending Balance (in shares) at Dec. 31, 2023 10,383 10,383        
Ending Balance at Dec. 31, 2023 $ 201,875 $ 109 $ (7,837) $ 99,025 $ (3,040) $ 113,618
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Description of Business, Accounting Policies, and Supplemental Disclosures
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Description of Business, Accounting Policies, and Supplemental Disclosures DESCRIPTION OF BUSINESS, ACCOUNTING POLICIES, AND SUPPLEMENTAL DISCLOSURES
Description of Business
We seek to be Earth’s most customer-centric company. In each of our segments, we serve our primary customer sets, consisting of consumers, sellers, developers, enterprises, content creators, advertisers, and employees. We serve consumers through our online and physical stores and focus on selection, price, and convenience. We offer programs that enable sellers to grow their businesses, sell their products in our stores, and fulfill orders using our services, and programs that allow authors, independent publishers, musicians, filmmakers, Twitch streamers, skill and app developers, and others to publish and sell content. We serve developers and enterprises of all sizes through AWS, which offers a broad set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services. We also manufacture and sell electronic devices. In addition, we provide advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
We have organized our operations into three segments: North America, International, and AWS. See “Note 10 — Segment Information.”
Common Stock Split
On May 27, 2022, we effected a 20-for-1 stock split of our common stock and proportionately increased the number of authorized shares of common stock. All share, restricted stock unit (“RSU”), and per share or per RSU information throughout this Annual Report on Form 10-K has been retroactively adjusted to reflect the stock split. The shares of common stock retain a par value of $0.01 per share. Accordingly, an amount equal to the par value of the increased shares resulting from the stock split was reclassified from “Additional paid-in capital” to “Common stock.”
Principles of Consolidation
The consolidated financial statements include the accounts of Amazon.com, Inc. and its consolidated entities (collectively, the “Company”), consisting of its wholly-owned subsidiaries and those entities in which we have a variable interest and of which we are the primary beneficiary, including certain entities in India and certain entities that support our health care services and seller lending financing activities. Intercompany balances and transactions between consolidated entities are eliminated.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, income taxes, useful lives of equipment, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, inventory valuation, collectability of receivables, impairment of property and equipment and operating leases, valuation and impairment of investments, self-insurance liabilities, and viewing patterns of capitalized video content. Actual results could differ materially from these estimates. For example, in Q4 2023 we completed a useful life study for our servers and are increasing the useful life from five years to six years in January 2024, which, based on servers that are included in “Property and equipment, net” as of December 31, 2023, will have an anticipated impact to our 2024 operating income of $3.1 billion. We had previously increased the useful life of our servers from four years to five years in January 2022.
For the year ended December 31, 2022, we recorded approximately $1.1 billion, of which $720 million was recorded in the fourth quarter, of impairments of property and equipment and operating leases primarily related to physical stores. These charges were recorded in “Other operating expense (income), net” on our consolidated statements of operations and primarily impacted our North America segment. For the year ended December 31, 2022, we also recorded expenses of approximately $480 million, primarily in “Fulfillment”, on our consolidated statements of operations primarily relating to terminating contracts for certain leases not yet commenced as well as other purchase commitments, which primarily impacted our North America segment.
For the year ended December 31, 2022, we recorded approximately $720 million, of which $640 million was recorded in the fourth quarter, of estimated severance costs primarily related to planned role eliminations. These charges were recorded primarily in “Technology and infrastructure,” “Fulfillment,” and “General and administrative” on our consolidated statements of operations and primarily impacted our North America segment.
Charges for impairment, expenses for terminating contracts and other commitments, and severance costs were not material to our consolidated results of operations for the years ended December 31, 2021 and 2023.
Supplemental Cash Flow Information
The following table shows supplemental cash flow information (in millions):
Year Ended December 31,
202120222023
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$1,098 $1,561 $2,608 
Cash paid for operating leases$6,722 $8,633 $10,453 
Cash paid for interest on finance leases$521 $374 $308 
Cash paid for interest on financing obligations$153 $207 $196 
Cash paid for income taxes, net of refunds$3,688 $6,035 $11,179 
Assets acquired under operating leases$25,369 $18,800 $14,052 
Property and equipment acquired under finance leases, net of remeasurements and modifications$7,061 $675 $642 
Property and equipment recognized during the construction period of build-to-suit lease arrangements$5,846 $3,187 $357 
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating$230 $5,158 $1,374 
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):
  
Year Ended December 31,
 202120222023
Shares used in computation of basic earnings per share10,117 10,189 10,304 
Total dilutive effect of outstanding stock awards179 — 188 
Shares used in computation of diluted earnings per share10,296 10,189 10,492 
Revenue
Revenue is measured based on the amount of consideration that we expect to receive, reduced by estimates for return allowances, promotional discounts, and rebates. Revenue also excludes any amounts collected on behalf of third parties, including sales and indirect taxes. In arrangements where we have multiple performance obligations, the transaction price is allocated to each performance obligation using the relative stand-alone selling price. We generally determine stand-alone selling prices based on the prices charged to customers or using expected cost plus a margin.
A description of our principal revenue generating activities is as follows:
Retail sales - We offer consumer products through our online and physical stores. Revenue is recognized when control of the goods is transferred to the customer, which generally occurs upon our delivery to a third-party carrier or, in the case of an Amazon delivery, to the customer.
Third-party seller services - We offer programs that enable sellers to sell their products in our stores, and fulfill orders using our services. We are not the seller of record in these transactions. The commissions and any related fulfillment and shipping fees we earn from these arrangements are recognized when the services are rendered, which generally occurs upon delivery of the related products to a third-party carrier or, in the case of an Amazon delivery, to the customer.
Advertising services - We provide advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising. Revenue is recognized as ads are delivered based on the number of clicks or impressions.
Subscription services - Our subscription sales include fees associated with Amazon Prime memberships and access to content including digital video, audiobooks, digital music, e-books, and other non-AWS subscription services. Prime memberships provide our customers with access to an evolving suite of benefits that represent a single stand-ready obligation. Subscriptions are paid for at the time of or in advance of delivering the services. Revenue from such arrangements is recognized over the subscription period.
AWS - Our AWS arrangements include global sales of compute, storage, database, and other services. Revenue is allocated to services using stand-alone selling prices and is primarily recognized when the customer uses these services, based on the quantity of services rendered, such as compute or storage capacity delivered on-demand. Certain services, including compute and database, are also offered as a fixed quantity over a specified term, for which revenue is recognized ratably. Sales commissions we pay in connection with contracts that exceed one year are capitalized and amortized over the contract term.
Other - Other revenue includes sales related to various other offerings, such as certain licensing and distribution of video content, health care services, and shipping services, and our co-branded credit card agreements. Revenue is recognized when content is licensed or distributed and as or when services are performed.
Return Allowances
Return allowances, which reduce revenue and cost of sales, are estimated using historical experience. Liabilities for return allowances are included in “Accrued expenses and other” and were $1.0 billion, $1.3 billion, and $1.4 billion as of December 31, 2021, 2022, and 2023. Additions to the allowance were $5.1 billion, $5.5 billion, and $5.2 billion and deductions from the allowance were $4.9 billion, $5.2 billion, and $5.1 billion in 2021, 2022, and 2023. Included in “Inventories” on our consolidated balance sheets are assets totaling $882 million, $948 million, and $992 million as of December 31, 2021, 2022, and 2023, for the rights to recover products from customers associated with our liabilities for return allowances.
Cost of Sales
Cost of sales primarily consists of the purchase price of consumer products, inbound and outbound shipping costs, including costs related to sortation and delivery centers and where we are the transportation service provider, and digital media content costs where we record revenue gross, including video and music. Shipping costs to receive products from our suppliers are included in our inventory, and recognized as cost of sales upon sale of products to our customers. Payment processing and related transaction costs, including those associated with seller transactions, are classified in “Fulfillment” on our consolidated statements of operations.
Vendor Agreements
We have agreements with our vendors to receive consideration primarily for cooperative marketing efforts, promotions, incentives, and volume rebates. We generally consider these amounts received from vendors to be a reduction of the prices we pay for their goods, including property and equipment, or services, and are recorded as a reduction of the cost of inventory, cost of services, or cost of property and equipment. Volume rebates typically depend on reaching minimum purchase thresholds. We evaluate the likelihood of reaching purchase thresholds using past experience and current year forecasts. When volume rebates can be reasonably estimated, we record a portion of the rebate as we make progress towards the purchase threshold.
Fulfillment
Fulfillment costs primarily consist of those costs incurred in operating and staffing our North America and International segments’ fulfillment centers, physical stores, and customer service centers, including facilities and equipment expenses, such as depreciation and amortization, and rent; costs attributable to buying, receiving, inspecting, and warehousing inventories; picking, packaging, and preparing customer orders for shipment; payment processing and related transaction costs, including costs associated with our guarantee for certain seller transactions; responding to inquiries from customers; and supply chain management for our manufactured electronic devices. Fulfillment costs also include amounts paid to third parties that assist us in fulfillment and customer service operations.
Technology and Infrastructure
Technology and infrastructure costs include payroll and related expenses for employees involved in the research and development of new and existing products and services, development, design, and maintenance of our stores, curation and display of products and services made available in our online stores, and infrastructure costs. Infrastructure costs include servers, networking equipment, and data center related depreciation and amortization, rent, utilities, and other expenses necessary to support AWS and other Amazon businesses. Collectively, these costs reflect the investments we make in order to offer a wide variety of products and services to our customers, including expenditures related to initiatives to build and deploy innovative and efficient software and electronic devices and the development of a satellite network for global broadband service and autonomous vehicles for ride-hailing services. Technology and infrastructure costs are generally expensed as incurred.
Sales and Marketing
Sales and marketing costs include advertising and payroll and related expenses for personnel engaged in marketing and selling activities, including sales commissions related to AWS. We pay commissions to third parties when their customer referrals result in sales. We also participate in cooperative advertising arrangements with certain of our vendors, and other third parties.
Advertising and other promotional costs to market our products and services are expensed as incurred and were $16.9 billion, $20.6 billion, and $20.3 billion in 2021, 2022, and 2023.
General and Administrative
General and administrative expenses primarily consist of costs for corporate functions, including payroll and related expenses; facilities and equipment expenses, such as depreciation and amortization expense and rent; and professional fees.
Stock-Based Compensation
Compensation cost for all equity-classified stock awards expected to vest is measured at fair value on the date of grant and recognized over the service period. The fair value of restricted stock units is determined based on the number of shares granted and the quoted price of our common stock. Such value is recognized as expense over the service period, net of estimated forfeitures, using the accelerated method. Under this method, approximately 50% of the grant date fair value is recognized as expense in the first year of grant for the majority of our stock-based compensation awards. The accelerated method also adds a higher level of sensitivity and complexity in estimating forfeitures. If an award is forfeited early in its life, the adjustment to compensation expense is much greater under an accelerated method than under a straight-line method. The estimated number of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. We consider many factors when estimating expected forfeitures, including historical forfeiture experience by grant year and employee level. Additionally, stock-based compensation includes stock appreciation rights that are expected to settle in cash. These liability-classified awards are remeasured to fair value at the end of each reporting period until settlement or expiration.
Other Operating Expense (Income), Net
Other operating expense (income), net, consists primarily of the amortization of intangible assets, and asset impairments for physical store closures in 2022 and for fulfillment network facilities and physical store closures in 2023.
Other Income (Expense), Net
Other income (expense), net, is as follows (in millions):
Year Ended December 31,
202120222023
Marketable equity securities valuation gains (losses)$11,526 $(13,870)$984 
Equity warrant valuation gains (losses)1,315 (2,132)26 
Upward adjustments relating to equity investments in private companies1,866 76 40 
Foreign currency gains (losses)(55)(340)65 
Other, net(19)(540)(177)
Total other income (expense), net$14,633 $(16,806)$938 
Included in other income (expense), net in 2022 and 2023 is a marketable equity securities valuation gain (loss) of $(12.7) billion and $797 million from our equity investment in Rivian Automotive, Inc. (“Rivian”). Our investment in Rivian’s preferred stock was accounted for at cost, with adjustments for observable changes in prices or impairments, prior to Rivian’s initial public offering in November 2021, which resulted in the conversion of our preferred stock to Class A common stock. As of December 31, 2023, we held 158 million shares of Rivian’s Class A common stock, representing an approximate 16% ownership interest, and an approximate 15% voting interest. We determined that we have the ability to exercise significant influence over Rivian through our equity investment, our commercial arrangement for the purchase of electric vehicles and jointly-owned intellectual property, and one of our employees serving on Rivian’s board of directors. We elected the fair value option to account for our equity investment in Rivian, which is included in “Marketable securities” on our consolidated balance sheets, and had a fair value of $2.9 billion and $3.7 billion as of December 31, 2022 and December 31, 2023. The investment was subject to regulatory sales restrictions resulting in a discount for lack of marketability of approximately $800 million as of December 31, 2021, which expired in Q1 2022.
Required summarized financial information of Rivian as disclosed in its most recent SEC filings is as follows (in millions):
Year Ended
December 31, 2021		Year Ended
December 31, 2022		Nine Months Ended
September 30, 2023
Revenues$55 $1,658 $3,119 
Gross profit(465)(3,123)(1,424)
Loss from operations(4,220)(6,856)(4,158)
Net loss(4,688)(6,752)(3,911)

December 31, 2022September 30, 2023
Total current assets$13,130 $12,086 
Total assets17,876 16,456 
Total current liabilities2,424 2,624 
Total liabilities4,077 5,904 
Income Taxes
Income tax expense includes U.S. (federal and state) and foreign income taxes. Certain foreign subsidiary earnings and losses are subject to current U.S. taxation and the subsequent repatriation of those earnings is not subject to tax in the U.S. We intend to invest substantially all of our foreign subsidiary earnings, as well as our capital in our foreign subsidiaries, indefinitely outside of the U.S. in those jurisdictions in which we would incur significant, additional costs upon repatriation of such amounts.
Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as net operating loss and tax credit carryforwards, and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered.
Deferred tax assets represent amounts available to reduce income taxes payable in future periods. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent we believe they will not be realized. We consider many factors when assessing the likelihood of future realization of our deferred tax assets, including recent cumulative loss experience and expectations of future earnings, capital gains and investment in such jurisdiction, the carry-forward periods available to us for tax reporting purposes, and other relevant factors.
We utilize a two-step approach to recognizing and measuring uncertain income tax positions (income tax contingencies). The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not the position will be sustained on audit, including resolution of related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. We consider many factors when evaluating our tax positions and estimating our tax benefits, which may require periodic adjustments and which may not accurately forecast actual outcomes. We include interest and penalties related to our income tax contingencies in income tax expense.
Fair Value of Financial Instruments
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value:
Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.
Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.
We measure the fair value of money market funds and certain marketable equity securities based on quoted prices in active markets for identical assets or liabilities. Other marketable securities were valued either based on recent trades of securities in inactive markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data. We did not hold significant amounts of marketable securities categorized as Level 3 assets as of December 31, 2022 and 2023.
We hold equity warrants giving us the right to acquire stock of other companies. As of December 31, 2022 and 2023, these warrants had a fair value of $2.1 billion and $2.2 billion, and are recorded within “Other assets” on our consolidated balance sheets with gains and losses recognized in “Other income (expense), net” on our consolidated statements of operations. These warrants are classified as Level 2 and 3 assets.
Cash and Cash Equivalents
We classify all highly liquid instruments with an original maturity of three months or less as cash equivalents.
Inventories
Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out method, and are valued at the lower of cost and net realizable value. This valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category. The inventory valuation allowance, representing a write-down of inventory, was $2.8 billion and $3.0 billion as of December 31, 2022 and 2023.
We provide Fulfillment by Amazon services in connection with certain of our sellers’ programs. Third-party sellers maintain ownership of their inventory, regardless of whether fulfillment is provided by us or the third-party sellers, and therefore these products are not included in our inventories.
We also purchase electronic device components from a variety of suppliers and use several contract manufacturers to provide manufacturing services for our products. During the normal course of business, in order to manage manufacturing lead times and help ensure adequate supply, we enter into agreements with contract manufacturers and suppliers for certain electronic device components. We have certain non-cancellable purchase commitments arising from these agreements. These commitments are based on forecasted customer demand. If we reduce these commitments, we may incur additional costs. We also have firm, non-cancellable commitments for certain products offered in our Whole Foods Market stores.
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are receivables primarily related to customers, vendors, and sellers, as well as prepaid expenses and other current assets. As of December 31, 2022 and 2023, customer receivables, net, were $26.6 billion and $34.1 billion, vendor receivables, net, were $6.9 billion and $8.5 billion, seller receivables, net, were $1.3 billion and $1.0 billion, and other receivables, net, were $3.1 billion and $3.3 billion. Seller receivables are amounts due from sellers related to our seller lending program, which provides funding to sellers primarily to procure inventory. Prepaid expenses and other current assets were $4.5 billion and $5.4 billion as of December 31, 2022 and December 31, 2023.
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. Receivables are considered impaired and written-off when it is probable that all contractual payments due will not be collected in accordance with the terms of the agreement. The allowance for doubtful accounts was $1.1 billion, $1.4 billion, and $1.7 billion as of December 31, 2021, 2022, and 2023. Additions to the allowance were $1.0 billion, $1.6 billion, and $1.9 billion, and deductions to the allowance were $1.1 billion, $1.3 billion, and $1.6 billion in 2021, 2022, and 2023.
Software Development Costs
We incur software development costs related to products to be sold, leased, or marketed to external users, internal-use software, and our websites. Software development costs capitalized were not significant for the years presented. All other costs, including those related to design or maintenance, are expensed as incurred.
Property and Equipment, Net
Property and equipment are stated at cost less accumulated depreciation and amortization. Incentives that we receive from property and equipment vendors are recorded as a reduction to our costs. Property includes buildings and land that we own, along with property we have acquired under build-to-suit lease arrangements when we have control over the building during the construction period and finance lease arrangements. Equipment includes assets such as servers and networking equipment, heavy equipment, and other fulfillment equipment. Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets (generally the lesser of 40 years or the remaining life of the underlying building, four years prior to January 1, 2022 and five years subsequent to January 1, 2022 for our servers, five years prior to January 1, 2022 and six years subsequent to January 1, 2022 for our networking equipment, ten years for heavy equipment, and three to ten years for other fulfillment equipment). Depreciation and amortization expense is classified within the corresponding operating expense categories on our consolidated statements of operations.
Leases
We categorize leases with contractual terms longer than twelve months as either operating or finance. Finance leases are generally those leases that allow us to substantially utilize or pay for the entire asset over its estimated life. Assets acquired under finance leases are recorded in “Property and equipment, net.” All other leases are categorized as operating leases. Our leases generally have terms that range from one to ten years for equipment and one to twenty years for property.
Certain lease contracts include obligations to pay for other services, such as operations and maintenance. For leases of property, we account for these other services as a component of the lease. For substantially all other leases, the services are accounted for separately and we allocate payments to the lease and other services components based on estimated stand-alone prices.
Lease liabilities are recognized at the present value of the fixed lease payments, reduced by landlord incentives using a discount rate based on similarly secured borrowings available to us. Lease assets are recognized based on the initial present value of the fixed lease payments, reduced by landlord incentives, plus any direct costs from executing the leases or lease prepayments reclassified from “Other assets” upon lease commencement. Leasehold improvements are capitalized at cost and amortized over the lesser of their expected useful life or the lease term.
When we have the option to extend the lease term, terminate the lease before the contractual expiration date, or purchase the leased asset, and it is reasonably certain that we will exercise the option, we consider the option in determining the classification and measurement of the lease. Our leases may include variable payments based on measures that include changes in price indices, market interest rates, or the level of sales at a physical store, which are expensed as incurred.
Costs associated with operating lease assets are recognized on a straight-line basis within operating expenses over the term of the lease. Finance lease assets are amortized within operating expenses on a straight-line basis over the shorter of the estimated useful lives of the assets or, in the instance where title does not transfer at the end of the lease term, the lease term. The interest component of a finance lease is included in interest expense and recognized using the effective interest method over the lease term.
We establish assets and liabilities for the present value of estimated future costs to retire long-lived assets at the termination or expiration of a lease. Such assets are amortized over the lease period into operating expense, and the recorded liabilities are accreted to the future value of the estimated retirement costs.
Financing Obligations
We record assets and liabilities for estimated construction costs under build-to-suit lease arrangements when we have control over the building during the construction period. If we continue to control the building after the construction period, the arrangement is classified as a financing obligation instead of a lease. The building is depreciated over the shorter of its useful life or the term of the obligation.
If we do not control the building after the construction period ends, the assets and liabilities for construction costs are derecognized, and we classify the lease as operating.
Goodwill and Indefinite-Lived Intangible Assets
We evaluate goodwill and indefinite-lived intangible assets for impairment annually or more frequently when an event occurs or circumstances change that indicate the carrying value may not be recoverable. We may elect to utilize a qualitative assessment to evaluate whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset is less than its carrying value and if so, we perform a quantitative test. We compare the carrying value of each reporting unit and indefinite-lived intangible asset to its estimated fair value and if the fair value is determined to be less than the carrying value, we recognize an impairment loss for the difference. We estimate the fair value of the reporting units using discounted cash flows. Forecasts of future cash flows are based on our best estimate of future net sales and operating expenses, based primarily on expected category expansion, pricing, market segment share, and general economic conditions.
We completed the required annual impairment test of goodwill for all reporting units and indefinite-lived intangible assets as of April 1, 2023, resulting in no impairments. The fair value of our reporting units substantially exceeded their carrying value. There were no events that caused us to update our annual impairment test. See “Note 5 — Acquisitions, Goodwill, and Acquired Intangible Assets.”
Other Assets
Included in “Other assets” on our consolidated balance sheets are amounts primarily related to video and music content, net of accumulated amortization; long-term deferred tax assets; acquired intangible assets, net of accumulated amortization; equity warrant assets and certain equity investments; satellite network launch services deposits; and affordable housing loans. We recognize certain transactions with governments when there is reasonable assurance that incentives included in the agreements, such as cash or certain tax credits, will be received and we are able to comply with any related conditions. These incentives are recorded as reductions to the cost of related assets or expenses.
Digital Video and Music Content
We obtain video content, inclusive of episodic television and movies, and music content for customers through licensing agreements that have a wide range of licensing provisions including both fixed and variable payment schedules. When the license fee for a specific video or music title is determinable or reasonably estimable and the content is available to us, we recognize an asset and a corresponding liability for the amounts owed. We reduce the liability as payments are made and we amortize the asset to “Cost of sales” on an accelerated basis, based on estimated usage or viewing patterns, or on a straight-line basis. If the licensing fee is not determinable or reasonably estimable, no asset or liability is recorded and licensing costs are expensed as incurred. We also develop original video content for which the production costs are capitalized and amortized to “Cost of sales” predominantly on an accelerated basis that follows the estimated viewing patterns associated with the content. The weighted average remaining life of our capitalized video content is 3.5 years. We review usage and viewing patterns impacting the amortization of capitalized video content on an ongoing basis and reflect any changes prospectively.
Our produced and licensed video content is primarily monetized together as a unit, referred to as a film group, in each major geography where we offer Amazon Prime memberships. These film groups are evaluated for impairment whenever an event occurs or circumstances change indicating the fair value is less than the carrying value. The total capitalized costs of video, which is primarily released content, and music as of December 31, 2022 and 2023 were $16.7 billion and $17.4 billion. Total video and music expense was $16.6 billion and $18.9 billion for the year ended December 31, 2022 and 2023. Total video and music expense includes licensing and production costs associated with content offered within Amazon Prime memberships, and costs associated with digital subscriptions and sold or rented content.
Investments
We generally invest our excess cash in AAA-rated money market funds and investment grade short- to intermediate-term marketable debt securities. Such investments are included in “Cash and cash equivalents” or “Marketable securities” on the accompanying consolidated balance sheets.
Marketable debt securities are classified as available-for-sale and reported at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss).” Each reporting period, we evaluate whether declines in fair value below carrying value are due to expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs. Expected credit losses are recorded as an allowance through “Other income (expense), net” on our consolidated statements of operations.
Convertible notes classified as available for sale, equity investments in private companies for which we do not have the ability to exercise significant influence and accounted for at cost, and equity investments accounted for using the equity method of accounting are included within “Other assets” on our consolidated balance sheets.
In Q3 2023, we invested in a $1.25 billion note from Anthropic, PBC, which is convertible to equity. The note is classified as available for sale and reported at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss).” The note is classified as a Level 3 asset. We have an agreement that expires in Q1 2024 to invest up to an additional $2.75 billion in a second convertible note. We also have a commercial arrangement primarily for the provision of AWS cloud services, which includes the use of AWS chips.
Equity investments in private companies for which we do not have the ability to exercise significant influence are accounted for at cost, with adjustments for observable changes in prices or impairments, with adjustments recognized in “Other income (expense), net” on our consolidated statements of operations. Each reporting period, we perform a qualitative assessment to evaluate whether the investment is impaired. Our assessment includes a review of recent operating results and trends, recent sales/acquisitions of the investee securities, and other publicly available data. If the investment is impaired, we write it down to its estimated fair value. As of December 31, 2022 and 2023, these investments had a carrying value of $715 million and $754 million.
Equity investments are accounted for using the equity method of accounting, or at fair value if we elect the fair value option, if the investment gives us the ability to exercise significant influence, but not control, over an investee. Our share of the earnings or losses as reported by equity-method investees, amortization of basis differences, related gains or losses, and impairments, if any, are recognized in “Equity-method investment activity, net of tax” on our consolidated statements of operations. Each reporting period, we evaluate whether declines in fair value below carrying value are other-than-temporary and if so, we write down the investment to its estimated fair value.
Equity investments that have readily determinable fair values, including investments for which we have elected the fair value option, are included in “Marketable securities” on our consolidated balance sheets and measured at fair value with changes recognized in “Other income (expense), net” on our consolidated statements of operations.
Long-Lived Assets
Long-lived assets, other than goodwill and indefinite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or any other significant adverse change that would indicate that the carrying amount of an asset or group of assets may not be recoverable.
For long-lived assets used in operations, including lease assets, impairment losses are only recorded if the asset’s carrying amount is not recoverable through its undiscounted, probability-weighted future cash flows. We measure the impairment loss based on the difference between the carrying amount and estimated fair value. Long-lived assets are considered held for sale when certain criteria are met, including when management has committed to a plan to sell the asset, the asset is available for sale in its immediate condition, and the sale is probable within one year of the reporting date. Assets held for sale are reported at the lower of cost or fair value less costs to sell. Assets held for sale were not significant as of December 31, 2022 and 2023.
Accrued Expenses and Other
Included in “Accrued expenses and other” on our consolidated balance sheets are liabilities primarily related to leases and asset retirement obligations, tax-related liabilities, current debt, payroll and related expenses, unredeemed gift cards, self-insurance liabilities, customer liabilities, marketing liabilities, acquired digital media content, and other operating expenses.
As of December 31, 2022 and 2023, our liabilities for payroll related expenses were $7.7 billion and our liabilities for unredeemed gift cards were $5.4 billion and $5.3 billion. We reduce the liability for a gift card when redeemed by a customer. The portion of gift cards that we do not expect to be redeemed is recognized based on customer usage patterns.
Self-Insurance Liabilities
Although we maintain certain high-deductible, third-party insurance coverage for catastrophic losses, we effectively self-insure for exposure primarily related to workers’ compensation, employee health care benefits, general and product liability, and automobile liability, including liability resulting from third-party transportation service providers. We estimate self-insurance liabilities by considering historical claims experience, frequency and costs of claims, projected claims development, inflation, and other actuarial assumptions. Changes in the number or costs of claims, healthcare costs, judgment and settlement amounts, associated legal expenses, and other factors could cause actual results to differ materially from these estimates. In the fourth quarter of 2022, we increased our reserves for general, product, and automobile liabilities by $1.3 billion primarily driven by changes in our estimates about the costs of asserted and unasserted claims, which was primarily recorded in “Cost of sales” on our consolidated statements of operations and impacted our North America segment. Increases to our reserves driven by changes in estimates were not material to our consolidated results of operations for the years ended December 31, 2021 and
2023. As of December 31, 2022 and 2023, our total self-insurance liabilities were $4.0 billion and $6.3 billion and are included in “Accrued expenses and other” on our consolidated balance sheets.
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, 2022 was $16.1 billion, of which $12.4 billion was recognized as revenue during the year ended December 31, 2023 and our total unearned revenue as of December 31, 2023 was $20.6 billion. Included in “Other long-term liabilities” on our consolidated balance sheets was $2.9 billion and $5.7 billion of unearned revenue as of December 31, 2022 and 2023.
Additionally, we have performance obligations, primarily related to AWS, associated with commitments in customer contracts for future services that have not yet been recognized in our financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were $155.7 billion as of December 31, 2023. The weighted average remaining life of our long-term contracts is 4.0 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
Other Long-Term Liabilities
Included in “Other long-term liabilities” on our consolidated balance sheets are liabilities primarily related to financing obligations, unearned revenue, asset retirement obligations, tax contingencies, digital video and music content, and deferred tax liabilities.
Foreign Currency
We have internationally-focused stores for which the net sales generated, as well as most of the related expenses directly incurred from those operations, are denominated in local functional currencies. The functional currency of our subsidiaries that either operate or support these stores is generally the same as the local currency. Assets and liabilities of these subsidiaries are translated into U.S. Dollars at period-end foreign exchange rates, and revenues and expenses are translated at average rates prevailing throughout the period. Translation adjustments are included in “Accumulated other comprehensive income (loss),” a separate component of stockholders’ equity. Transaction gains and losses including intercompany transactions denominated in a currency other than the functional currency of the entity involved are included in “Other income (expense), net” on our consolidated statements of operations. In connection with the settlement and remeasurement of intercompany balances, we recorded gains (losses) of $19 million, $386 million, and $(329) million in 2021, 2022, and 2023.
Accounting Pronouncements Not Yet Adopted
In December 2023, the Financial Accounting Standards Board issued an Accounting Standards Update (“ASU”) amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The ASU is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted and can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our income tax disclosures.
v3.24.0.1
Financial Instruments
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
Cash, Cash Equivalents, Restricted Cash, and Marketable Securities
As of December 31, 2022 and 2023, 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. 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, 2022
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$10,666 $— $— $10,666 
Level 1 securities:
Money market funds27,899 — — 27,899 
Equity securities (1)3,709 
Level 2 securities:
Foreign government and agency securities537 — (2)535 
U.S. government and agency securities2,301 — (155)2,146 
Corporate debt securities23,111 — (484)22,627 
Asset-backed securities2,721 — (149)2,572 
Other debt securities249 — (12)237 
$67,484 $— $(802)$70,391 
Less: Restricted cash, cash equivalents, and marketable securities (2)(365)
Total cash, cash equivalents, and marketable securities$70,026 
 December 31, 2023
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$11,706 $— $— $11,706 
Level 1 securities:
Money market funds39,160 — — 39,160 
Equity securities (1)4,658 
Level 2 securities:
Foreign government and agency securities505 — — 505 
U.S. government and agency securities1,789 1 (91)1,699 
Corporate debt securities27,996 — (191)27,805 
Asset-backed securities1,707 — (61)1,646 
Other debt securities108 — (4)104 
$82,971 $1 $(347)$87,283 
Less: Restricted cash, cash equivalents, and marketable securities (2)(503)
Total cash, cash equivalents, and marketable securities$86,780 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $11.6 billion, $(13.6) billion, and $1.0 billion for the years ended December 31, 2021, 2022, and 2023.
(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, and standby and trade letters of credit. 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 7 — Commitments and Contingencies.”
The following table summarizes gross gains and gross losses realized on sales of marketable debt securities (in millions):
Year Ended December 31,
202120222023
Realized gains$85 $43 $2 
Realized losses38 341 67 
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of December 31, 2023 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$65,224 $65,159 
Due after one year through five years4,635 4,430 
Due after five years through ten years411 394 
Due after ten years995 936 
Total$71,265 $70,919 
Actual maturities may differ from the contractual maturities because borrowers may have certain prepayment conditions.
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, 2022December 31, 2023
Cash and cash equivalents$53,888 $73,387 
Restricted cash included in accounts receivable, net and other358 497 
Restricted cash included in other assets7 6 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$54,253 $73,890 
v3.24.0.1
Property and Equipment
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment PROPERTY AND EQUIPMENT
Property and equipment, at cost, consisted of the following (in millions): 
 December 31,
 20222023
Gross property and equipment (1):
Land and buildings$91,650 $105,293 
Equipment157,458 185,039 
Other assets4,602 5,116 
Construction in progress30,020 28,840 
Gross property and equipment283,730 324,288 
Total accumulated depreciation and amortization (1)97,015 120,111 
Total property and equipment, net$186,715 $204,177 
__________________
(1)Includes the original cost and accumulated depreciation of fully-depreciated assets.
Depreciation and amortization expense on property and equipment was $22.9 billion, $24.9 billion, and $30.2 billion which includes amortization of property and equipment acquired under finance leases of $9.9 billion, $6.1 billion, and $5.9 billion for 2021, 2022, and 2023.
v3.24.0.1
Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases LEASESWe 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 $68.0 billion and $62.5 billion as of December 31, 2022 and 2023. Accumulated amortization associated with finance leases was $45.2 billion and $44.7 billion as of December 31, 2022 and 2023.
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
 Year Ended December 31,
202120222023
Operating lease cost$7,199 $8,847 $10,550 
Finance lease cost:
Amortization of lease assets9,857 6,097 5,899 
Interest on lease liabilities473 361 304 
Finance lease cost10,330 6,458 6,203 
Variable lease cost1,556 1,852 2,165 
Total lease cost$19,085 $17,157 $18,918 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2022December 31, 2023
 
Weighted-average remaining lease term – operating leases11.6 years11.3 years
Weighted-average remaining lease term – finance leases10.3 years11.9 years
Weighted-average discount rate – operating leases2.8 %3.3 %
Weighted-average discount rate – finance leases2.3 %2.7 %
Our lease liabilities were as follows (in millions):
December 31, 2022
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$81,273 $18,019 $99,292 
Less: imputed interest(12,233)(2,236)(14,469)
Present value of lease liabilities69,040 15,783 84,823 
Less: current portion of lease liabilities(7,458)(4,397)(11,855)
Total long-term lease liabilities$61,582 $11,386 $72,968 
December 31, 2023
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$90,777 $14,106 $104,883 
Less: imputed interest(15,138)(1,997)(17,135)
Present value of lease liabilities75,639 12,109 87,748 
Less: current portion of lease liabilities(8,419)(2,032)(10,451)
Total long-term lease liabilities$67,220 $10,077 $77,297 
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 $68.0 billion and $62.5 billion as of December 31, 2022 and 2023. Accumulated amortization associated with finance leases was $45.2 billion and $44.7 billion as of December 31, 2022 and 2023.
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
 Year Ended December 31,
202120222023
Operating lease cost$7,199 $8,847 $10,550 
Finance lease cost:
Amortization of lease assets9,857 6,097 5,899 
Interest on lease liabilities473 361 304 
Finance lease cost10,330 6,458 6,203 
Variable lease cost1,556 1,852 2,165 
Total lease cost$19,085 $17,157 $18,918 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2022December 31, 2023
 
Weighted-average remaining lease term – operating leases11.6 years11.3 years
Weighted-average remaining lease term – finance leases10.3 years11.9 years
Weighted-average discount rate – operating leases2.8 %3.3 %
Weighted-average discount rate – finance leases2.3 %2.7 %
Our lease liabilities were as follows (in millions):
December 31, 2022
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$81,273 $18,019 $99,292 
Less: imputed interest(12,233)(2,236)(14,469)
Present value of lease liabilities69,040 15,783 84,823 
Less: current portion of lease liabilities(7,458)(4,397)(11,855)
Total long-term lease liabilities$61,582 $11,386 $72,968 
December 31, 2023
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$90,777 $14,106 $104,883 
Less: imputed interest(15,138)(1,997)(17,135)
Present value of lease liabilities75,639 12,109 87,748 
Less: current portion of lease liabilities(8,419)(2,032)(10,451)
Total long-term lease liabilities$67,220 $10,077 $77,297 
v3.24.0.1
Acquisitions, Goodwill, and Acquired Intangible Assets
 12 Months Ended
Dec. 31, 2023
Business Combinations [Abstract]  
Acquisitions, Goodwill, and Acquired Intangible Assets ACQUISITIONS, GOODWILL, AND ACQUIRED INTANGIBLE ASSETS
2021 Acquisition Activity
During 2021, we acquired certain companies for an aggregate purchase price of $496 million, net of cash acquired.
2022 Acquisition Activity
On March 17, 2022, we acquired MGM Holdings Inc., for cash consideration of approximately $6.1 billion, net of cash acquired, to provide more digital media content options for customers. We also assumed $2.5 billion of debt, which we repaid immediately after closing. The acquired assets primarily consist of $3.4 billion of video content and $4.9 billion of goodwill.
During 2022, we also acquired certain other companies for an aggregate purchase price of $141 million, net of cash acquired.
2023 Acquisition Activity
On February 22, 2023, we acquired 1Life Healthcare, Inc. (One Medical), for cash consideration of approximately $3.5 billion, net of cash acquired, to provide health care options for customers. The acquired assets primarily consist of $1.3 billion of intangible assets and $2.5 billion of goodwill, which is allocated to our North America segment.
During 2023, we also acquired certain other companies for an immaterial aggregate purchase price, net of cash acquired.
Pro forma results of operations have not been presented because the effects of the 2023 acquisitions, individually and in the aggregate, were not material to our consolidated results of operations. Acquisition-related costs were expensed as incurred and were not significant.
In addition, in August 2022, we entered into an agreement to acquire iRobot Corporation, as amended in July 2023, for approximately $1.7 billion, including its debt, subject to customary closing conditions. In January 2024, we and iRobot agreed to terminate the transaction.
Goodwill
The goodwill of the acquired companies is primarily related to expected improvements in technology performance and functionality, as well as sales growth from future product and service offerings and new customers, together with certain intangible assets that do not qualify for separate recognition. The goodwill of the acquired companies is generally not deductible for tax purposes. The following summarizes our goodwill activity in 2022 and 2023 by segment (in millions):
North
America		InternationalAWSConsolidated
Goodwill - January 1, 2022$12,758 $1,327 $1,286 $15,371 
New acquisitions 3,943 1,054 — 4,997 
Other adjustments (1)(80)30 (30)(80)
Goodwill - December 31, 202216,621 2,411 1,256 20,288 
New acquisitions2,494 — — 2,494 
Other adjustments (1)11 1 (5)7 
Goodwill - December 31, 2023$19,126 $2,412 $1,251 $22,789 
 ___________________
(1)Primarily includes changes in foreign exchange rates.Intangible Assets
Acquired identifiable intangible assets are valued primarily by using discounted cash flows. These assets are included within “Other assets” on our consolidated balance sheets and consist of the following (in millions):
 
 December 31,
 20222023
  
Acquired
Intangibles,
Gross (1)		Accumulated
Amortization (1)		Acquired
Intangibles,
Net		Acquired
Intangibles,
Gross (1)		Accumulated
Amortization (1)		Acquired
Intangibles,
Net		Weighted
Average Life
Remaining
Finite-lived intangible assets (2):
Marketing-related$2,407 $(601)$1,806 $2,643 $(738)$1,905 17.5
Contract-based3,661 (813)2,848 4,800 (1,129)3,671 11.7
Technology- and content-based883 (643)240 743 (340)403 5.1
Customer-related184 (128)56 749 (188)561 6.6
Total finite-lived intangible assets$7,135 $(2,185)$4,950 $8,935 $(2,395)$6,540 12.5
IPR&D and other (3)$1,147  $1,147 $1,147  $1,147 
Total acquired intangibles $8,282 $(2,185)$6,097 $10,082 $(2,395)$7,687 
 ___________________
(1)Excludes the original cost and accumulated amortization of fully-amortized intangibles.
(2)Finite-lived intangible assets, excluding acquired video content, have estimated useful lives of between one and twenty-five years, and are being amortized to operating expenses on a straight-line basis.
(3)Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets.
Amortization expense for acquired finite-lived intangibles was $512 million, $604 million, and $706 million in 2021, 2022, and 2023. Expected future amortization expense of acquired finite-lived intangible assets as of December 31, 2023 is as follows (in millions):
 
Year Ended December 31,
2024$715 
2025631 
2026563 
2027552 
2028534 
Thereafter3,545 
$6,540 
v3.24.0.1
Debt
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt DEBT
As of December 31, 2023, we had $66.5 billion of unsecured senior notes outstanding (the “Notes”) and $682 million of borrowings under our secured revolving credit facility. Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2022December 31, 2023
2014 Notes issuance of $6.0 billion
2024 - 2044
3.80% - 4.95%
3.90% - 5.12%
4,000 4,000 
2017 Notes issuance of $17.0 billion
2024 - 2057
2.80% - 5.20%
2.95% - 4.33%
16,000 15,000 
2020 Notes issuance of $10.0 billion
2025 - 2060
0.80% - 2.70%
0.88% - 2.77%
10,000 9,000 
2021 Notes issuance of $18.5 billion
2024 - 2061
0.45% - 3.25%
0.57% - 3.31%
18,500 17,500 
April 2022 Notes issuance of $12.8 billion
2024 - 2062
2.73% - 4.10%
2.83% - 4.15%
12,750 12,750 
December 2022 Notes issuance of $8.3 billion
2024 - 2032
4.55% - 4.70%
4.61% - 4.83%
8,250 8,250 
Credit Facility1,042 682 
Total face value of long-term debt70,542 67,182 
Unamortized discount and issuance costs, net(393)(374)
Less: current portion of long-term debt(2,999)(8,494)
Long-term debt$67,150 $58,314 
___________________
(1)The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, and December 2022 Notes were 11.6, 14.1, 17.5, 13.1, 12.3, and 4.9 years as of December 31, 2023. The combined weighted-average remaining life of the Notes was 12.7 years as of December 31, 2023.
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 $61.4 billion and $60.6 billion as of December 31, 2022 and 2023, which is based on quoted prices for our debt as of those dates.
We have a $1.5 billion secured revolving credit facility with a lender that is secured by certain seller receivables, which we may from time to time increase in the future subject to lender approval (the “Credit Facility”). The Credit Facility is available until August 2025, bears interest based on the daily Secured Overnight Financing Rate plus 1.25%, and has a commitment fee of up to 0.45% on the undrawn portion. There were $1.0 billion and $682 million of borrowings outstanding under the Credit Facility as of December 31, 2022 and 2023, which had an interest rate of 5.6% and 6.6%, respectively. As of December 31, 2022 and 2023, we have pledged $1.2 billion and $806 million of our cash and seller receivables as collateral for debt related to our Credit Facility. The estimated fair value of the Credit Facility, which is based on Level 2 inputs, approximated its carrying value as of December 31, 2022 and 2023.
As of December 31, 2023, future principal payments for our total long-term debt were as follows (in millions):
Year Ended December 31,
2024$8,500 
20255,286 
20263,146 
20278,750 
20282,250 
Thereafter39,250 
$67,182 
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 has been repaid.
We have U.S. Dollar and Euro commercial paper programs (the “Commercial Paper Programs”) under which we may from time to time issue unsecured commercial paper up to a total of $20.0 billion (including up to €3.0 billion) at the date of issue, with individual maturities that may vary but will not exceed 397 days from the date of issue. There were $6.8 billion of
borrowings outstanding under the Commercial Paper Programs as of December 31, 2022, which were included in “Accrued expenses and other” on our consolidated balance sheets and had a weighted-average effective interest rate, including issuance costs, of 4.5%. There were no borrowings outstanding under the Commercial Paper Programs as of December 31, 2023. We use the net proceeds from the issuance of commercial paper for general corporate purposes.
In November 2023, we entered into a $15.0 billion unsecured revolving credit facility with a syndicate of lenders (the “Credit Agreement”), which replaced the prior amended and restated credit agreement entered into in March 2022. The Credit Agreement has a term that extends to November 2028 and may be extended for one or more additional one-year terms if approved by the lenders. The interest rate applicable to outstanding balances under the Credit Agreement is the applicable benchmark rate specified in the Credit Agreement plus 0.45%, with a commitment fee of 0.03% on the undrawn portion of the credit facility. There were no borrowings outstanding under the Credit Agreement or the prior amended and restated credit agreement as of December 31, 2022 and 2023.
In November 2023, we also entered into a $5.0 billion unsecured 364-day revolving credit facility with a syndicate of lenders (the “Short-Term Credit Agreement”), which replaced the prior 364-day revolving credit agreement entered into in November 2022. The Short-Term Credit Agreement matures in October 2024 and may be extended for one additional period of 364 days if approved by the lenders. The interest rate applicable to outstanding balances under the Short-Term Credit Agreement is the Secured Overnight Financing Rate specified in the 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 Short-Term Credit Agreement or the prior 364-day revolving credit agreement as of December 31, 2022 and 2023.
We also utilize other short-term credit facilities for working capital purposes. There were $1.2 billion and $147 million of borrowings outstanding under these facilities as of December 31, 2022 and 2023, which were included in “Accrued expenses and other” on our consolidated balance sheets. In addition, we had $6.8 billion of unused letters of credit as of December 31, 2023.
v3.24.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2023
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 December 31, 2023 (in millions):
 Year Ended December 31,  
 20242025202620272028ThereafterTotal
Long-term debt principal and interest$10,616 $7,175 $4,858 $10,404 $3,643 $60,176 $96,872 
Operating lease liabilities11,229 9,922 9,156 8,321 7,546 44,603 90,777 
Finance lease liabilities, including interest2,292 1,471 1,369 1,123 1,022 6,829 14,106 
Financing obligations, including interest (1)469 462 468 476 484 6,282 8,641 
Leases not yet commenced2,034 2,620 2,836 2,852 2,979 24,860 38,181 
Unconditional purchase obligations (2)9,432 7,823 5,901 4,463 1,912 5,953 35,484 
Other commitments (3)3,273 1,390 1,125 759 680 9,121 16,348 
Total commitments$39,345 $30,863 $25,713 $28,398 $18,266 $157,824 $300,409 
___________________
(1)Includes non-cancellable financing obligations for fulfillment network and data center facilities. Excluding interest, current financing obligations of $266 million and $271 million are recorded within “Accrued expenses and other” and $6.7 billion and $6.6 billion are recorded within “Other long-term liabilities” as of December 31, 2022 and 2023. The weighted-average remaining term of the financing obligations was 17.9 years and 17.0 years and the weighted-average imputed interest rate was 3.1% as of December 31, 2022 and 2023.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content that are not reflected on the consolidated balance sheets, and certain products offered in our Whole Foods Market stores. For those digital media content agreements with variable terms, we do not estimate the total obligation beyond any minimum quantities and/or pricing as of the reporting date. Purchase obligations associated with renewal provisions solely at the option of the content provider are included to the extent such commitments are fixed or a minimum amount is specified. Renewable energy agreements based on actual generation without a fixed or minimum volume commitment are not included. These agreements also provide the right to receive renewable energy certificates for no additional consideration.
(3)Includes asset retirement obligations, liabilities associated with digital media content agreements with initial terms greater than one year, and the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction. Excludes approximately $5.2 billion of income tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
Suppliers
During 2023, no vendor accounted for 10% or more of our purchases. We generally do not have long-term contracts or arrangements with our vendors to guarantee the availability of merchandise, particular payment terms, or the extension of credit limits.
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 following:
In November 2015, Eolas Technologies, Inc. filed a complaint against Amazon.com, Inc. in the United States District Court for the Eastern District of Texas. The complaint alleges, among other things, that the use of “interactive features” on www.amazon.com, including “search suggestions and search results,” infringes U.S. Patent No. 9,195,507, entitled “Distributed
Hypermedia Method and System for Automatically Invoking External Application Providing Interaction and Display of Embedded Objects Within a Hypermedia Document.” The complaint sought a judgment of infringement together with costs and attorneys’ fees. In February 2016, Eolas filed an amended complaint seeking, among other things, an unspecified amount of damages. In February 2017, Eolas alleged in its damages report that in the event of a finding of liability Amazon could be subject to $130 million to $250 million in damages. In April 2017, the case was transferred to the United States District Court for the Northern District of California. In May 2022, the district court granted summary judgment, holding that the patent is invalid. In June 2022, Eolas filed a notice of appeal. In February 2024, the United States Court of Appeals for the Federal Circuit affirmed the district court’s judgment. We dispute the allegations of wrongdoing and will continue to defend ourselves vigorously in this matter.
In May 2018, Rensselaer Polytechnic Institute and CF Dynamic Advances LLC filed a complaint against Amazon.com, Inc. in the United States District Court for the Northern District of New York. The complaint alleges, among other things, that “Alexa Voice Software and Alexa enabled devices” infringe U.S. Patent No. 7,177,798, entitled “Natural Language Interface Using Constrained Intermediate Dictionary of Results.” The complaint seeks an injunction, an unspecified amount of damages, enhanced damages, an ongoing royalty, interest, attorneys’ fees, and costs. In March 2023, the plaintiffs alleged in their damages report that in the event of a finding of liability Amazon could be subject to $140 million to $267 million in damages. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter.
In December 2018, Kove IO, Inc. filed a complaint against Amazon Web Services, Inc. in the United States District Court for the Northern District of Illinois. The complaint alleges, among other things, that Amazon S3 and DynamoDB infringe U.S. Patent Nos. 7,814,170 and 7,103,640, each entitled “Network Distributed Tracking Wire Transfer Protocol”; and 7,233,978, entitled “Method and Apparatus for Managing Location Information in a Network Separate from the Data to Which the Location Information Pertains.” The complaint seeks an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, interest, and injunctive relief. In March 2022, the case was stayed pending resolution of review petitions we filed with the United States Patent and Trademark Office. In November 2022, the stay was lifted. In July 2023, Kove alleged in its damages report that in the event of a finding of liability Amazon Web Services could be subject to $517 million to $1.03 billion in damages. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter.
Beginning in June 2019 with Wilcosky v. Amazon.com, Inc., now pending in the United States District Court for the Northern District of Illinois (“N.D. Ill.”), private litigants have filed a number of cases in U.S. federal and state courts, including Hogan v. Amazon.com, Inc. (N.D. Ill.), alleging, among other things, that Amazon’s collection, storage, use, retention, and protection of biometric identifiers violated the Illinois Biometric Information Privacy Act. The complaints allege purported classes of Illinois residents who had biometric identifiers collected through Amazon products or services, including Amazon Photos, Alexa, AWS cloud services, Ring, Amazon Connect, Amazon’s Flex driver app, and Amazon’s virtual try-on technology. The complaints seek certification as class actions, unspecified amounts of damages, injunctive relief, attorneys’ fees, costs, and interest. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
Beginning in March 2020 with Frame-Wilson v. Amazon.com, Inc. filed in the United States District Court for the Western District of Washington (“W.D. Wash.”), private litigants have filed a number of cases in the U.S. and Canada alleging, among other things, price fixing arrangements between Amazon.com, Inc. and vendors and third-party sellers in Amazon’s stores, monopolization and attempted monopolization, and consumer protection and unjust enrichment claims. Attorneys General for the District of Columbia and California brought similar suits in May 2021 and September 2022 in the Superior Court of the District of Columbia and the California Superior Court for the County of San Francisco, respectively. Some of the private cases include allegations of several distinct purported classes, including consumers who purchased a product through Amazon’s stores and consumers who purchased a product offered by Amazon through another e-commerce retailer. The complaints seek billions of dollars of alleged damages, treble damages, punitive damages, injunctive relief, civil penalties, attorneys’ fees, and costs. The Federal Trade Commission and a number of state Attorneys General filed a similar lawsuit in September 2023 in the W.D. Wash. alleging violations of federal antitrust and state antitrust and consumer protection laws. That complaint alleges, among other things, that Amazon has a monopoly in markets for online superstores and marketplace services, and unlawfully maintains those monopolies through anticompetitive practices relating to our pricing policies, advertising practices, the structure of Prime, and promotion of our own products on our website. The complaint seeks injunctive and structural relief, an unspecified amount of damages, and costs. Amazon’s motions to dismiss were granted in part and denied in part in Frame-Wilson in March 2022 and March 2023, De Coster v. Amazon.com, Inc. (W.D. Wash.) in January 2023, and the California Attorney General’s lawsuit in March 2023. All three courts dismissed claims alleging that Amazon’s pricing policies are inherently illegal and denied dismissal of claims alleging that Amazon’s pricing policies are an unlawful restraint of trade. In March 2022, the DC Superior Court dismissed the DC Attorney General’s lawsuit in its entirety; the dismissal is under appeal. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
In October 2020, Broadband iTV, Inc. filed a complaint against Amazon.com, Inc., Amazon.com Services LLC, and Amazon Web Services, Inc. in the United States District Court for the Western District of Texas. The complaint alleges, among other things, that certain Amazon Prime Video features and services infringe U.S. Patent Nos. 9,648,388, 10,546,750, and 10,536,751, each entitled “Video-On-Demand Content Delivery System for Providing Video-On-Demand Services to TV
Services Subscribers”; 10,028,026, entitled “System for Addressing On-Demand TV Program Content on TV Services Platform of a Digital TV Services Provider”; and 9,973,825, entitled “Dynamic Adjustment of Electronic Program Guide Displays Based on Viewer Preferences for Minimizing Navigation in VOD Program Selection.” The complaint seeks an unspecified amount of damages. In April 2022, Broadband iTV alleged in its damages report that in the event of a finding of liability Amazon could be subject to $166 million to $986 million in damages. In September 2022, the court granted summary judgment, holding that the patents are invalid. In October 2022, Broadband iTV filed a notice of appeal. We dispute the allegations of wrongdoing and will continue to defend ourselves vigorously in this matter.
In July 2021, the Luxembourg National Commission for Data Protection (the “CNPD”) issued a decision against Amazon Europe Core S.à r.l. claiming that Amazon’s processing of personal data did not comply with the EU General Data Protection Regulation. The decision imposes a fine of €746 million and corresponding practice revisions. We believe the CNPD’s decision to be without merit and intend to defend ourselves vigorously in this matter.
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. We believe the ICA’s decision to be without merit and intend to defend ourselves vigorously in this matter.
In July 2022, Acceleration Bay, LLC filed a complaint against Amazon Web Services, Inc. in the United States District Court for the District of Delaware. The complaint alleges, among other things, that Amazon EC2, Amazon CloudFront, AWS Lambda, Amazon Lumberyard, Luna, Amazon Prime Video, Twitch, Amazon GameLift, GridMate, Amazon EKS, AWS App Mesh, and Amazon VPC infringe U.S. Patent Nos. 6,701,344, entitled “Distributed Game Environment”; 6,714,966, entitled “Information Delivery Service”; 6,732,147, entitled “Leaving a Broadcast Channel”; 6,829,634, entitled “Broadcasting Network”; and 6,910,069, entitled “Joining a Broadcast Channel.” The complaint seeks injunctive relief, an unspecified amount of damages, enhanced damages, interest, attorneys’ fees, and costs. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter.
In November 2022, LightGuide, Inc. filed a complaint against Amazon.com, Inc. and Amazon.com Services LLC in the United States District Court for the Eastern District of Texas. The complaint alleges, among other things, that Amazon’s Nike Intent Detection System used in certain fulfillment centers infringes U.S. Patent Nos. 7,515,981, entitled “Light Guided Assembly System”; and 9,658,614 and 10,528,036, each entitled “Light Guided Assembly System and Method.” The complaint seeks an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, interest, and injunctive relief. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter.
In May 2023, Dialect, LLC filed a complaint against Amazon.com, Inc. and Amazon Web Services, Inc. in the United States District Court for the Eastern District for Virginia. The complaint alleges, among other things, that Amazon’s Alexa-enabled products and services, such as Echo devices, Fire tablets, Fire TV sticks, Fire TVs, Alexa, and Alexa Voice Services, infringe U.S. Patent Nos. 7,693,720 and 9,031,845, each entitled “Mobile Systems and Methods for Responding to Natural Language Speech Utterance”; 8,015,006, entitled “Systems and Methods for Processing Natural Language Speech Utterances with Context-Specific Domain Agents”; 8,140,327, entitled “System and Method for Filtering and Eliminating Noise from Natural Language Utterances to Improve Speech Recognition and Parsing”; 8,195,468 and 9,495,957, each entitled “Mobile Systems and Methods of Supporting Natural Language Human-Machine Interactions”; and 9,263,039, entitled “Systems and Methods for Responding to Natural Language Speech Utterance.” The complaint seeks an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, interest, and injunctive relief. In November 2023, the court granted in part Amazon’s motion to dismiss Dialect’s complaint and dismissed the ‘845 patent from the case. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter.
Beginning in October 2023, Nokia Technologies Oy and related entities filed complaints alleging infringement of patents related to video-related technologies against Amazon.com, Inc. and related entities in multiple courts in the United States, India, the United Kingdom, Germany, and Brazil, the Unified Patent Court of the European Union, and the United States International Trade Commission. The complaints allege, among other things, that certain Amazon Prime Video services and features of Amazon devices carrying the Prime Video app infringe Nokia’s patents; some of the complaints additionally allege infringement by Freevee, Twitch, and Amazon voice assistants. The complaints seek, among other things, injunctive relief and, in some cases, unspecified money damages, enhanced damages, attorneys’ fees, costs, interest, and declaratory relief. These matters are at various procedural stages, with preliminary injunctions issued in certain instances. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
In addition, we are regularly subject to claims, litigation, and other proceedings, including potential regulatory proceedings, involving patent and other intellectual property matters, taxes, labor and employment, competition and antitrust, privacy and data protection, consumer protection, commercial disputes, goods and services offered by us and by third parties, and other matters.
The outcomes of our legal proceedings and other contingencies are inherently unpredictable, subject to significant uncertainties, and could be material to our operating results and cash flows for a particular period. We evaluate, on a regular basis, developments in our legal proceedings and other contingencies that could affect the amount of liability, including amounts in excess of any previous accruals and reasonably possible losses disclosed, and make adjustments and changes to our accruals and disclosures as appropriate. For the matters we disclose that do not include an estimate of the amount of loss or range of losses, such an estimate is not possible or is immaterial, and we may be unable to estimate the possible loss or range of losses that could potentially result from the application of non-monetary remedies. Until the final resolution of such matters, if any of our estimates and assumptions change or prove to have been incorrect, we may experience losses in excess of the amounts recorded, which could have a material effect on our business, consolidated financial position, results of operations, or cash flows.
See also “Note 9 — Income Taxes.”
v3.24.0.1
Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Preferred Stock
We have authorized 500 million shares of $0.01 par value preferred stock. No preferred stock was outstanding for any year presented.
Common Stock
Common shares outstanding plus shares underlying outstanding stock awards totaled 10.5 billion, 10.6 billion, and 10.8 billion, as of December 31, 2021, 2022, and 2023. These totals include all vested and unvested stock awards outstanding, including those awards we estimate will be forfeited.
Stock Repurchase Activity
In March 2022, the Board of Directors authorized a program to repurchase up to $10.0 billion of our common stock, with no fixed expiration, which replaced the previous $5.0 billion stock repurchase authorization, approved by the Board of Directors in February 2016. We repurchased 46.2 million shares of our common stock for $6.0 billion in 2022 under these programs. There were no repurchases of common stock in 2021 or 2023. As of December 31, 2023, we have $6.1 billion remaining under the repurchase program.
Stock Award Plans
Employees vest in restricted stock unit awards over the corresponding service term, generally between two and five years. The majority of restricted stock unit awards are granted at the date of hire or in Q2 as part of the annual compensation review and primarily vest semi-annually in Q2 and Q4 of the relevant compensation year.
Stock Award Activity
Stock-based compensation expense is as follows (in millions):
Year Ended December 31,
202120222023
Cost of sales$540 $757 $836 
Fulfillment1,946 2,745 3,090 
Technology and infrastructure6,645 10,621 13,434 
Sales and marketing2,530 3,875 4,623 
General and administrative1,096 1,623 2,040 
Total stock-based compensation expense (1)$12,757 $19,621 $24,023 
___________________
(1)The related tax benefits were $2.7 billion, $4.3 billion, and $5.4 billion for 2021, 2022, and 2023.
The following table summarizes our restricted stock unit activity (in millions):
Number of UnitsWeighted Average
Grant-Date
Fair Value
Outstanding as of January 1, 2021303.3 $100 
Units granted127.3 167 
Units vested(108.4)85 
Units forfeited(42.3)116 
Outstanding as of December 31, 2021279.9 134 
Units granted262.8 142 
Units vested(113.3)114 
Units forfeited(45.0)143 
Outstanding as of December 31, 2022384.4 144 
Units granted218.1 106 
Units vested(139.9)143 
Units forfeited(56.8)135 
Outstanding as of December 31, 2023405.8 125 
Scheduled vesting for outstanding restricted stock units as of December 31, 2023, is as follows (in millions):
 Year Ended    
 20242025202620272028ThereafterTotal
Scheduled vesting — restricted stock units218.3 124.6 48.7 11.2 1.3 1.7 405.8 
As of December 31, 2023, there was $18.3 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 0.9 years. The estimated forfeiture rate as of December 31, 2021, 2022, and 2023 was 26.5%, 26.5%, and 26.1%.
During 2021, 2022, and 2023, the fair value of restricted stock units that vested was $18.2 billion, $12.8 billion, and $17.6 billion.
Common Stock Available for Future Issuance
As of December 31, 2023, common stock available for future issuance to employees is 1.6 billion shares.
v3.24.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
In 2021, 2022, and 2023, we recorded a net tax provision (benefit) of $4.8 billion, $(3.2) billion, and $7.1 billion. Our U.S. taxable income is reduced by accelerated depreciation deductions and increased by the impact of capitalized research and development expenses. Cash paid for income taxes, net of refunds, was $3.7 billion, $6.0 billion, and $11.2 billion for 2021, 2022, and 2023.
Certain foreign subsidiary earnings and losses are subject to current U.S. taxation and the subsequent repatriation of those earnings is not subject to tax in the U.S. The U.S. tax rules also provide for enhanced accelerated depreciation deductions by allowing us to expense a portion of qualified property, primarily equipment. These enhanced deductions are scheduled to phase out annually from 2023 through 2026. Our federal tax provision included a partial accelerated depreciation deduction election for 2021, and a full election for 2022 and 2023. Effective January 1, 2022, research and development expenses are required to be capitalized and amortized for U.S. tax purposes.
The components of the provision (benefit) for income taxes, net are as follows (in millions):
 Year Ended December 31,
202120222023
U.S. Federal:
Current$2,129 $2,175 $8,652 
Deferred155 (6,686)(5,505)
Total2,284 (4,511)3,147 
U.S. State:
Current763 1,074 2,158 
Deferred(178)(1,302)(498)
Total585 (228)1,660 
International:
Current2,209 1,682 2,186 
Deferred(287)(160)127 
Total1,922 1,522 2,313 
Provision (benefit) for income taxes, net$4,791 $(3,217)$7,120 
U.S. and international components of income (loss) before income taxes are as follows (in millions):
 Year Ended December 31,
 202120222023
U.S.$35,879 $(8,225)$32,328 
International2,272 2,289 5,229 
Income (loss) before income taxes$38,151 $(5,936)$37,557 
The items accounting for differences between income taxes computed at the federal statutory rate and the provision (benefit) recorded for income taxes are as follows (in millions):
 Year Ended December 31,
 202120222023
Income taxes computed at the federal statutory rate$8,012 $(1,246)$7,887 
Effect of:
Tax impact of foreign earnings and losses(1,349)(370)594 
State taxes, net of federal benefits465 (173)1,307 
Tax credits(1,136)(1,006)(2,362)
Stock-based compensation (1)(1,094)612 1,047 
Foreign income deduction (2)(301)(1,258)(1,429)
Other, net194 224 76 
Total$4,791 $(3,217)$7,120 
___________________
(1)Includes non-deductible stock-based compensation and excess tax benefits or shortfalls from stock-based compensation. Our tax provision includes $1.9 billion of excess tax benefits from stock-based compensation for 2021, and $33 million and $519 million of tax shortfalls from stock-based compensation for 2022 and 2023.
(2)U.S. companies are eligible for a deduction that lowers the effective tax rate on certain foreign income. This regime is referred to as the Foreign-Derived Intangible Income deduction and is dependent on the amount of our U.S. taxable income.
We generated an income tax benefit in 2022 as compared to a provision for income taxes in 2021 primarily due to a decrease in pretax income and an increase in the foreign income deduction. This was partially offset by a reduction in excess tax benefits from stock-based compensation and a decrease in the tax impact of foreign earnings and losses driven by a decline in the favorable effects of corporate restructuring transactions. The foreign income deduction benefit recognized in 2022 reflects a change in our application of tax regulations related to the computation of qualifying foreign income and includes a tax benefit of approximately $655 million related to years prior to 2022.
We recorded a provision for income taxes in 2023 as compared to an income tax benefit in 2022 primarily due to an increase in pretax income, a decrease in the tax impact of foreign earnings and losses driven by a decline in the favorable effects of corporate restructuring transactions, and an increase in tax shortfalls from stock-based compensation. This was partially offset by an increase in federal research and development credits, which included approximately $600 million of tax benefit recorded in 2023 related to a change in the estimated qualifying expenditures associated with our 2022 U.S. federal R&D credit.
We intend to invest substantially all of our foreign subsidiary earnings, as well as our capital in our foreign subsidiaries, indefinitely outside of the U.S. in those jurisdictions in which we would incur significant, additional costs upon repatriation of such amounts.
Deferred income tax assets and liabilities are as follows (in millions):
 December 31,
 20222023
Deferred tax assets (1):
Loss carryforwards U.S. - Federal/States386 610 
Loss carryforwards - Foreign2,831 2,796 
Accrued liabilities, reserves, and other expenses3,280 3,751 
Stock-based compensation4,295 5,279 
Depreciation and amortization1,009 1,114 
Operating lease liabilities18,285 19,922 
Capitalized research and development6,824 14,800 
Other items1,023 745 
Tax credits950 1,582 
Total gross deferred tax assets38,883 50,599 
Less valuation allowances (2)(4,374)(4,811)
Deferred tax assets, net of valuation allowances34,509 45,788 
Deferred tax liabilities:
Depreciation and amortization(9,039)(12,454)
Operating lease assets(17,140)(18,648)
Other items(817)(1,489)
Net deferred tax assets (liabilities), net of valuation allowances$7,513 $13,197 
 ___________________
(1)Deferred tax assets are presented after tax effects and net of tax contingencies.
(2)Relates primarily to deferred tax assets that would only be realizable upon the generation of net income in certain foreign taxing jurisdictions or future capital gains, as well as tax credits.
Our valuation allowances primarily relate to foreign deferred tax assets, including substantially all of our foreign net operating loss carryforwards as of December 31, 2023. Our foreign net operating loss carryforwards for income tax purposes as of December 31, 2023 were approximately $10.2 billion before tax effects and certain of these amounts are subject to annual limitations under applicable tax law. If not utilized, a portion of these losses will begin to expire in 2024.
Income Tax Contingencies
We are subject to income taxes in the U.S. (federal and state) and numerous foreign jurisdictions. Significant judgment is required in evaluating our tax positions and determining our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. We establish reserves for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. These reserves are established when we believe that certain positions might be challenged despite our belief that our tax return positions are fully supportable. We adjust these reserves in light of changing facts and circumstances, such as the outcome of tax audits. The provision for income taxes includes the impact of reserve provisions and changes to reserves that are considered appropriate.
The reconciliation of our income tax contingencies is as follows (in millions):
 December 31,
 202120222023
Gross tax contingencies – January 1$2,820 $3,242 $4,002 
Gross increases to tax positions in prior periods403 274 440 
Gross decreases to tax positions in prior periods(354)(172)(38)
Gross increases to current period tax positions507 706 1,009 
Settlements with tax authorities(60)(20)(106)
Lapse of statute of limitations(74)(28)(79)
Gross tax contingencies – December 31 (1)$3,242 $4,002 $5,228 
 ___________________
(1)As of December 31, 2023, we had approximately $5.2 billion of income tax contingencies of which $3.3 billion, if fully recognized, would decrease our effective tax rate.
As of December 31, 2022 and 2023, we had accrued interest and penalties, net of federal income tax benefit, related to tax contingencies of $103 million and $194 million. Interest and penalties, net of federal income tax benefit, recognized for the years ended December 31, 2021, 2022, and 2023 were $28 million, $(7) million, and $91 million.
We are under examination, or may be subject to examination, by the Internal Revenue Service for the calendar year 2016 and thereafter. These examinations may lead to ordinary course adjustments or proposed adjustments to our taxes or our net operating losses with respect to years under examination as well as subsequent periods.
We are also subject to taxation in various states and other foreign jurisdictions including China, France, Germany, India, Japan, Luxembourg, and the United Kingdom. We are under, or may be subject to, audit or examination and additional assessments by the relevant authorities in respect of these particular jurisdictions primarily for 2011 and thereafter. We are currently disputing tax assessments in multiple jurisdictions, including with respect to the allocation and characterization of income.
In September 2022, the Luxembourg tax authority (“LTA”) denied the tax basis of certain intangible assets that we distributed from Luxembourg to the U.S. in 2021. When we are assessed by the LTA, we will need to remit taxes related to this matter. We believe the LTA’s position is without merit, we intend to defend ourselves vigorously in this matter, and we expect to recoup taxes paid.
The Indian tax authority (“ITA”) has asserted that tax applies to cloud services fees paid to Amazon in the U.S. We will need to remit taxes related to this matter until it is resolved, which payments could be significant in the aggregate. We believe the ITA’s position is without merit, we are defending our position vigorously in the Indian courts, 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.
In October 2014, the European Commission opened a formal investigation to examine whether decisions by the tax authorities in Luxembourg with regard to the corporate income tax paid by certain of our subsidiaries comply with European Union rules on state aid. On October 4, 2017, the European Commission announced its decision that determinations by the tax authorities in Luxembourg did not comply with European Union rules on state aid. Based on that decision, the European Commission announced an estimated recovery amount of approximately €250 million, plus interest, for the period May 2006 through June 2014, and ordered Luxembourg tax authorities to calculate the actual amount of additional taxes subject to recovery. Luxembourg computed an initial recovery amount, consistent with the European Commission’s decision, which we deposited into escrow in March 2018, subject to adjustment pending conclusion of all appeals. In December 2017, Luxembourg appealed the European Commission’s decision. In May 2018, we appealed. On May 12, 2021, the European Union General Court annulled the European Commission’s state aid decision. In July 2021, the European Commission appealed the decision to the European Court of Justice. In December 2023, the European Court of Justice affirmed the European Union General Court’s decision.
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. The actual amount of any change could vary significantly depending on the ultimate timing and nature of any settlements. We cannot currently provide an estimate of the range of possible outcomes.
v3.24.0.1
Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
We have organized our operations into three segments: North America, International, and AWS. We allocate to segment results the operating expenses “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” and “General and administrative” based on usage, which is generally reflected in the segment in which the costs are incurred. The majority of technology costs recorded in “Technology and infrastructure” are incurred in the U.S. and are included in our North America and AWS segments. The majority of infrastructure costs recorded in “Technology and infrastructure” are allocated to the AWS segment based on usage. There are no internal revenue transactions between our reportable segments. Our chief operating decision maker (“CODM”) regularly reviews consolidated net sales, consolidated operating expenses, and consolidated operating income (loss) by segment. Amounts included in consolidated operating expenses include “Cost of sales,” “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” “General and administrative,” and “Other operating expense (income), net.” Our CODM manages our business by reviewing annual forecasts and consolidated results by segment on a quarterly basis.
North America
The North America segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through North America-focused online and physical stores. This segment includes export sales from these online stores.
International
The International segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through internationally-focused online stores. This segment includes export sales from these internationally-focused online stores (including export sales from these online stores to customers in the U.S., Mexico, and Canada), but excludes export sales from our North America-focused online stores.
AWS
The AWS segment consists of amounts earned from global sales of compute, storage, database, and other services for start-ups, enterprises, government agencies, and academic institutions.
Information on reportable segments and reconciliation to consolidated net income (loss) is as follows (in millions):
  
Year Ended December 31,
 202120222023
North America
Net sales$279,833 $315,880 $352,828 
Operating expenses272,562 318,727 337,951 
Operating income (loss)$7,271 $(2,847)$14,877 
International
Net sales$127,787 $118,007 $131,200 
Operating expenses128,711 125,753 133,856 
Operating loss$(924)$(7,746)$(2,656)
AWS
Net sales$62,202 $80,096 $90,757 
Operating expenses43,670 57,255 66,126 
Operating income$18,532 $22,841 $24,631 
Consolidated
Net sales$469,822 $513,983 $574,785 
Operating expenses444,943 501,735 537,933 
Operating income24,879 12,248 36,852 
Total non-operating income (expense)13,272 (18,184)705 
Benefit (provision) for income taxes(4,791)3,217 (7,120)
Equity-method investment activity, net of tax4 (3)(12)
Net income (loss)$33,364 $(2,722)$30,425 
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):
  
Year Ended December 31,
 202120222023
Net Sales:
Online stores (1)$222,075 $220,004 $231,872 
Physical stores (2)17,075 18,963 20,030 
Third-party seller services (3)103,366 117,716 140,053 
Advertising services (4)31,160 37,739 46,906 
Subscription services (5)31,768 35,218 40,209 
AWS62,202 80,096 90,757 
Other (6)2,176 4,247 4,958 
Consolidated$469,822 $513,983 $574,785 
___________________
(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 certain licensing and distribution of video content, health care services, and shipping services, and our co-branded credit card agreements.
Net sales are attributed to countries primarily based on country-focused online and physical stores or, for AWS purposes, the selling entity. Net sales attributed to countries that represent a significant portion of consolidated net sales are as follows (in millions):
 Year Ended December 31,
 202120222023
United States$314,006 $356,113 $395,637 
Germany37,326 33,598 37,588 
United Kingdom31,914 30,074 33,591 
Japan23,071 24,396 26,002 
Rest of world63,505 69,802 81,967 
Consolidated$469,822 $513,983 $574,785 
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 are allocated among the segments based on usage, with the majority allocated to the AWS segment. Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31,
 202120222023
North America (1)$161,255 $185,268 $196,029 
International (1)57,983 64,666 69,718 
AWS (2)63,835 88,491 108,533 
Corporate137,476 124,250 153,574 
Consolidated$420,549 $462,675 $527,854 
___________________
(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,
 202120222023
North America$83,640 $90,076 $93,632 
International21,718 23,347 24,357 
AWS43,245 60,324 72,701 
Corporate11,678 12,968 13,487 
Consolidated$160,281 $186,715 $204,177 
Total net additions to property and equipment by segment are as follows (in millions):
 Year Ended December 31,
 202120222023
North America (1)$37,397 $23,682 $17,529 
International (1)10,259 6,711 4,144 
AWS (2)22,047 27,755 24,843 
Corporate2,622 2,688 1,828 
Consolidated$72,325 $60,836 $48,344 
___________________
(1)Includes property and equipment added under finance leases of $3.6 billion, $422 million, and $525 million in 2021, 2022, and 2023, and under build-to-suit lease arrangements of $5.6 billion, $3.2 billion, and $356 million in 2021, 2022, and 2023.
(2)Includes property and equipment added under finance leases of $3.5 billion, $253 million, and $117 million in 2021, 2022, and 2023, and under build-to-suit lease arrangements of $51 million, $20 million, and $1 million in 2021, 2022, and 2023.
U.S. property and equipment, net and operating leases were $155.0 billion, $180.0 billion, and $196.0 billion, as of December 31, 2021, 2022, and 2023, and non-U.S. property and equipment, net and operating leases were $61.3 billion, $72.9 billion, and $80.7 billion as of December 31, 2021, 2022, and 2023. Except for the U.S., property and equipment, net and operating leases in any single country were less than 10% of consolidated property and equipment, net and operating leases.
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):
 Year Ended December 31,
 202120222023
North America$9,234 $11,565 $13,678 
International3,022 3,483 4,016 
AWS10,653 9,876 12,531 
Consolidated$22,909 $24,924 $30,225 
v3.24.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure      
Net income (loss) $ 30,425 $ (2,722) $ 33,364
v3.24.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2023
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Jonathan Rubinstein [Member]  
Trading Arrangements, by Individual  
Name Jonathan Rubinstein
Title Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 3, 2023
Aggregate Available 22,953
Douglas Herrington [Member]  
Trading Arrangements, by Individual  
Name Douglas Herrington
Title CEO Worldwide Amazon Stores
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 6, 2023
Aggregate Available 130,162
Jeffrey Bezos [Member]  
Trading Arrangements, by Individual  
Name Jeffrey Bezos
Title our founder and Executive Chair
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 8, 2023
Aggregate Available 50,000,000
Shelley Reynolds [Member]  
Trading Arrangements, by Individual  
Name Shelley Reynolds
Title Vice President, Worldwide Controller
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 13, 2023
Aggregate Available 11,200
David Zapolsky [Member]  
Trading Arrangements, by Individual  
Name David Zapolsky
Title Senior Vice President, Global Public Policy and General Counsel
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 13, 2023
Aggregate Available 48,480
Andrew Jassy [Member]  
Trading Arrangements, by Individual  
Name Andrew Jassy
Title President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 16, 2023
Aggregate Available 190,900
Brian Olsavsky [Member]  
Trading Arrangements, by Individual  
Name Brian Olsavsky
Title Senior Vice President and Chief Financial Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 21, 2023
Aggregate Available 31,400
Judith McGrath [Member]  
Trading Arrangements, by Individual  
Name Judith McGrath
Title Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 27, 2023
Aggregate Available 5,760
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures (Policies)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Segment Information We have organized our operations into three segments: North America, International, and AWS.
Principles of Consolidation
Principles of Consolidation
The consolidated financial statements include the accounts of Amazon.com, Inc. and its consolidated entities (collectively, the “Company”), consisting of its wholly-owned subsidiaries and those entities in which we have a variable interest and of which we are the primary beneficiary, including certain entities in India and certain entities that support our health care services and seller lending financing activities. Intercompany balances and transactions between consolidated entities are eliminated.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, income taxes, useful lives of equipment, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, inventory valuation, collectability of receivables, impairment of property and equipment and operating leases, valuation and impairment of investments, self-insurance liabilities, and viewing patterns of capitalized video content. Actual results could differ materially from these estimates.
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.
Revenue, Return Allowances, Cost of Sales, and Vendor Agreements
Revenue
Revenue is measured based on the amount of consideration that we expect to receive, reduced by estimates for return allowances, promotional discounts, and rebates. Revenue also excludes any amounts collected on behalf of third parties, including sales and indirect taxes. In arrangements where we have multiple performance obligations, the transaction price is allocated to each performance obligation using the relative stand-alone selling price. We generally determine stand-alone selling prices based on the prices charged to customers or using expected cost plus a margin.
A description of our principal revenue generating activities is as follows:
Retail sales - We offer consumer products through our online and physical stores. Revenue is recognized when control of the goods is transferred to the customer, which generally occurs upon our delivery to a third-party carrier or, in the case of an Amazon delivery, to the customer.
Third-party seller services - We offer programs that enable sellers to sell their products in our stores, and fulfill orders using our services. We are not the seller of record in these transactions. The commissions and any related fulfillment and shipping fees we earn from these arrangements are recognized when the services are rendered, which generally occurs upon delivery of the related products to a third-party carrier or, in the case of an Amazon delivery, to the customer.
Advertising services - We provide advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising. Revenue is recognized as ads are delivered based on the number of clicks or impressions.
Subscription services - Our subscription sales include fees associated with Amazon Prime memberships and access to content including digital video, audiobooks, digital music, e-books, and other non-AWS subscription services. Prime memberships provide our customers with access to an evolving suite of benefits that represent a single stand-ready obligation. Subscriptions are paid for at the time of or in advance of delivering the services. Revenue from such arrangements is recognized over the subscription period.
AWS - Our AWS arrangements include global sales of compute, storage, database, and other services. Revenue is allocated to services using stand-alone selling prices and is primarily recognized when the customer uses these services, based on the quantity of services rendered, such as compute or storage capacity delivered on-demand. Certain services, including compute and database, are also offered as a fixed quantity over a specified term, for which revenue is recognized ratably. Sales commissions we pay in connection with contracts that exceed one year are capitalized and amortized over the contract term.
Other - Other revenue includes sales related to various other offerings, such as certain licensing and distribution of video content, health care services, and shipping services, and our co-branded credit card agreements. Revenue is recognized when content is licensed or distributed and as or when services are performed.
Return Allowances
Return allowances, which reduce revenue and cost of sales, are estimated using historical experience. Liabilities for return allowances are included in “Accrued expenses and other” and were $1.0 billion, $1.3 billion, and $1.4 billion as of December 31, 2021, 2022, and 2023. Additions to the allowance were $5.1 billion, $5.5 billion, and $5.2 billion and deductions from the allowance were $4.9 billion, $5.2 billion, and $5.1 billion in 2021, 2022, and 2023. Included in “Inventories” on our consolidated balance sheets are assets totaling $882 million, $948 million, and $992 million as of December 31, 2021, 2022, and 2023, for the rights to recover products from customers associated with our liabilities for return allowances.
Cost of Sales
Cost of sales primarily consists of the purchase price of consumer products, inbound and outbound shipping costs, including costs related to sortation and delivery centers and where we are the transportation service provider, and digital media content costs where we record revenue gross, including video and music. Shipping costs to receive products from our suppliers are included in our inventory, and recognized as cost of sales upon sale of products to our customers. Payment processing and related transaction costs, including those associated with seller transactions, are classified in “Fulfillment” on our consolidated statements of operations.
Vendor Agreements
We have agreements with our vendors to receive consideration primarily for cooperative marketing efforts, promotions, incentives, and volume rebates. We generally consider these amounts received from vendors to be a reduction of the prices we pay for their goods, including property and equipment, or services, and are recorded as a reduction of the cost of inventory, cost of services, or cost of property and equipment. Volume rebates typically depend on reaching minimum purchase thresholds. We evaluate the likelihood of reaching purchase thresholds using past experience and current year forecasts. When volume rebates can be reasonably estimated, we record a portion of the rebate as we make progress towards the purchase threshold.
Fulfillment
Fulfillment
Fulfillment costs primarily consist of those costs incurred in operating and staffing our North America and International segments’ fulfillment centers, physical stores, and customer service centers, including facilities and equipment expenses, such as depreciation and amortization, and rent; costs attributable to buying, receiving, inspecting, and warehousing inventories; picking, packaging, and preparing customer orders for shipment; payment processing and related transaction costs, including costs associated with our guarantee for certain seller transactions; responding to inquiries from customers; and supply chain management for our manufactured electronic devices. Fulfillment costs also include amounts paid to third parties that assist us in fulfillment and customer service operations.
Technology and Infrastructure
Technology and Infrastructure
Technology and infrastructure costs include payroll and related expenses for employees involved in the research and development of new and existing products and services, development, design, and maintenance of our stores, curation and display of products and services made available in our online stores, and infrastructure costs. Infrastructure costs include servers, networking equipment, and data center related depreciation and amortization, rent, utilities, and other expenses necessary to support AWS and other Amazon businesses. Collectively, these costs reflect the investments we make in order to offer a wide variety of products and services to our customers, including expenditures related to initiatives to build and deploy innovative and efficient software and electronic devices and the development of a satellite network for global broadband service and autonomous vehicles for ride-hailing services. Technology and infrastructure costs are generally expensed as incurred.
Sales and Marketing
Sales and Marketing
Sales and marketing costs include advertising and payroll and related expenses for personnel engaged in marketing and selling activities, including sales commissions related to AWS. We pay commissions to third parties when their customer referrals result in sales. We also participate in cooperative advertising arrangements with certain of our vendors, and other third parties.
Advertising and other promotional costs to market our products and services are expensed as incurred and were $16.9 billion, $20.6 billion, and $20.3 billion in 2021, 2022, and 2023.
General and Administrative
General and Administrative
General and administrative expenses primarily consist of costs for corporate functions, including payroll and related expenses; facilities and equipment expenses, such as depreciation and amortization expense and rent; and professional fees.
Stock-Based Compensation
Stock-Based Compensation
Compensation cost for all equity-classified stock awards expected to vest is measured at fair value on the date of grant and recognized over the service period. The fair value of restricted stock units is determined based on the number of shares granted and the quoted price of our common stock. Such value is recognized as expense over the service period, net of estimated forfeitures, using the accelerated method. Under this method, approximately 50% of the grant date fair value is recognized as expense in the first year of grant for the majority of our stock-based compensation awards. The accelerated method also adds a higher level of sensitivity and complexity in estimating forfeitures. If an award is forfeited early in its life, the adjustment to compensation expense is much greater under an accelerated method than under a straight-line method. The estimated number of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. We consider many factors when estimating expected forfeitures, including historical forfeiture experience by grant year and employee level. Additionally, stock-based compensation includes stock appreciation rights that are expected to settle in cash. These liability-classified awards are remeasured to fair value at the end of each reporting period until settlement or expiration.
Other Operating Expense (Income), Net
Other Operating Expense (Income), Net
Other operating expense (income), net, consists primarily of the amortization of intangible assets, and asset impairments for physical store closures in 2022 and for fulfillment network facilities and physical store closures in 2023.
Other Income (Expense), Net
Included in other income (expense), net in 2022 and 2023 is a marketable equity securities valuation gain (loss) of $(12.7) billion and $797 million from our equity investment in Rivian Automotive, Inc. (“Rivian”). Our investment in Rivian’s preferred stock was accounted for at cost, with adjustments for observable changes in prices or impairments, prior to Rivian’s initial public offering in November 2021, which resulted in the conversion of our preferred stock to Class A common stock. As of December 31, 2023, we held 158 million shares of Rivian’s Class A common stock, representing an approximate 16% ownership interest, and an approximate 15% voting interest. We determined that we have the ability to exercise significant influence over Rivian through our equity investment, our commercial arrangement for the purchase of electric vehicles and jointly-owned intellectual property, and one of our employees serving on Rivian’s board of directors. We elected the fair value option to account for our equity investment in Rivian, which is included in “Marketable securities” on our consolidated balance sheets, and had a fair value of $2.9 billion and $3.7 billion as of December 31, 2022 and December 31, 2023. The investment was subject to regulatory sales restrictions resulting in a discount for lack of marketability of approximately $800 million as of December 31, 2021, which expired in Q1 2022.
Income Taxes
Income Taxes
Income tax expense includes U.S. (federal and state) and foreign income taxes. Certain foreign subsidiary earnings and losses are subject to current U.S. taxation and the subsequent repatriation of those earnings is not subject to tax in the U.S. We intend to invest substantially all of our foreign subsidiary earnings, as well as our capital in our foreign subsidiaries, indefinitely outside of the U.S. in those jurisdictions in which we would incur significant, additional costs upon repatriation of such amounts.
Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as net operating loss and tax credit carryforwards, and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered.
Deferred tax assets represent amounts available to reduce income taxes payable in future periods. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent we believe they will not be realized. We consider many factors when assessing the likelihood of future realization of our deferred tax assets, including recent cumulative loss experience and expectations of future earnings, capital gains and investment in such jurisdiction, the carry-forward periods available to us for tax reporting purposes, and other relevant factors.
We utilize a two-step approach to recognizing and measuring uncertain income tax positions (income tax contingencies). The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not the position will be sustained on audit, including resolution of related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. We consider many factors when evaluating our tax positions and estimating our tax benefits, which may require periodic adjustments and which may not accurately forecast actual outcomes. We include interest and penalties related to our income tax contingencies in income tax expense.
Fair Value of Financial Instruments
Fair Value of Financial Instruments
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value:
Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.
Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.
We measure the fair value of money market funds and certain marketable equity securities based on quoted prices in active markets for identical assets or liabilities. Other marketable securities were valued either based on recent trades of securities in inactive markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data. We did not hold significant amounts of marketable securities categorized as Level 3 assets as of December 31, 2022 and 2023.
We hold equity warrants giving us the right to acquire stock of other companies. As of December 31, 2022 and 2023, these warrants had a fair value of $2.1 billion and $2.2 billion, and are recorded within “Other assets” on our consolidated balance sheets with gains and losses recognized in “Other income (expense), net” on our consolidated statements of operations. These warrants are classified as Level 2 and 3 assets.
Cash and Cash Equivalents
Cash and Cash Equivalents
We classify all highly liquid instruments with an original maturity of three months or less as cash equivalents.
Inventories
Inventories
Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out method, and are valued at the lower of cost and net realizable value. This valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category. The inventory valuation allowance, representing a write-down of inventory, was $2.8 billion and $3.0 billion as of December 31, 2022 and 2023.
We provide Fulfillment by Amazon services in connection with certain of our sellers’ programs. Third-party sellers maintain ownership of their inventory, regardless of whether fulfillment is provided by us or the third-party sellers, and therefore these products are not included in our inventories.
We also purchase electronic device components from a variety of suppliers and use several contract manufacturers to provide manufacturing services for our products. During the normal course of business, in order to manage manufacturing lead times and help ensure adequate supply, we enter into agreements with contract manufacturers and suppliers for certain electronic device components. We have certain non-cancellable purchase commitments arising from these agreements. These commitments are based on forecasted customer demand. If we reduce these commitments, we may incur additional costs. We also have firm, non-cancellable commitments for certain products offered in our Whole Foods Market stores.
Accounts Receivable, Net and Other
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are receivables primarily related to customers, vendors, and sellers, as well as prepaid expenses and other current assets. As of December 31, 2022 and 2023, customer receivables, net, were $26.6 billion and $34.1 billion, vendor receivables, net, were $6.9 billion and $8.5 billion, seller receivables, net, were $1.3 billion and $1.0 billion, and other receivables, net, were $3.1 billion and $3.3 billion. Seller receivables are amounts due from sellers related to our seller lending program, which provides funding to sellers primarily to procure inventory. Prepaid expenses and other current assets were $4.5 billion and $5.4 billion as of December 31, 2022 and December 31, 2023.
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. Receivables are considered impaired and written-off when it is probable that all contractual payments due will not be collected in accordance with the terms of the agreement.
Software Development Costs
Software Development Costs
We incur software development costs related to products to be sold, leased, or marketed to external users, internal-use software, and our websites. Software development costs capitalized were not significant for the years presented. All other costs, including those related to design or maintenance, are expensed as incurred.
Property and Equipment, Net
Property and Equipment, Net
Property and equipment are stated at cost less accumulated depreciation and amortization. Incentives that we receive from property and equipment vendors are recorded as a reduction to our costs. Property includes buildings and land that we own, along with property we have acquired under build-to-suit lease arrangements when we have control over the building during the construction period and finance lease arrangements. Equipment includes assets such as servers and networking equipment, heavy equipment, and other fulfillment equipment. Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets (generally the lesser of 40 years or the remaining life of the underlying building, four years prior to January 1, 2022 and five years subsequent to January 1, 2022 for our servers, five years prior to January 1, 2022 and six years subsequent to January 1, 2022 for our networking equipment, ten years for heavy equipment, and three to ten years for other fulfillment equipment). Depreciation and amortization expense is classified within the corresponding operating expense categories on our consolidated statements of operations.
Leases
Leases
We categorize leases with contractual terms longer than twelve months as either operating or finance. Finance leases are generally those leases that allow us to substantially utilize or pay for the entire asset over its estimated life. Assets acquired under finance leases are recorded in “Property and equipment, net.” All other leases are categorized as operating leases. Our leases generally have terms that range from one to ten years for equipment and one to twenty years for property.
Certain lease contracts include obligations to pay for other services, such as operations and maintenance. For leases of property, we account for these other services as a component of the lease. For substantially all other leases, the services are accounted for separately and we allocate payments to the lease and other services components based on estimated stand-alone prices.
Lease liabilities are recognized at the present value of the fixed lease payments, reduced by landlord incentives using a discount rate based on similarly secured borrowings available to us. Lease assets are recognized based on the initial present value of the fixed lease payments, reduced by landlord incentives, plus any direct costs from executing the leases or lease prepayments reclassified from “Other assets” upon lease commencement. Leasehold improvements are capitalized at cost and amortized over the lesser of their expected useful life or the lease term.
When we have the option to extend the lease term, terminate the lease before the contractual expiration date, or purchase the leased asset, and it is reasonably certain that we will exercise the option, we consider the option in determining the classification and measurement of the lease. Our leases may include variable payments based on measures that include changes in price indices, market interest rates, or the level of sales at a physical store, which are expensed as incurred.
Costs associated with operating lease assets are recognized on a straight-line basis within operating expenses over the term of the lease. Finance lease assets are amortized within operating expenses on a straight-line basis over the shorter of the estimated useful lives of the assets or, in the instance where title does not transfer at the end of the lease term, the lease term. The interest component of a finance lease is included in interest expense and recognized using the effective interest method over the lease term.
We establish assets and liabilities for the present value of estimated future costs to retire long-lived assets at the termination or expiration of a lease. Such assets are amortized over the lease period into operating expense, and the recorded liabilities are accreted to the future value of the estimated retirement costs.
Financing Obligations
Financing Obligations
We record assets and liabilities for estimated construction costs under build-to-suit lease arrangements when we have control over the building during the construction period. If we continue to control the building after the construction period, the arrangement is classified as a financing obligation instead of a lease. The building is depreciated over the shorter of its useful life or the term of the obligation.
If we do not control the building after the construction period ends, the assets and liabilities for construction costs are derecognized, and we classify the lease as operating.
Goodwill and Indefinite-Lived Intangible Assets
Goodwill and Indefinite-Lived Intangible Assets
We evaluate goodwill and indefinite-lived intangible assets for impairment annually or more frequently when an event occurs or circumstances change that indicate the carrying value may not be recoverable. We may elect to utilize a qualitative assessment to evaluate whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset is less than its carrying value and if so, we perform a quantitative test. We compare the carrying value of each reporting unit and indefinite-lived intangible asset to its estimated fair value and if the fair value is determined to be less than the carrying value, we recognize an impairment loss for the difference. We estimate the fair value of the reporting units using discounted cash flows. Forecasts of future cash flows are based on our best estimate of future net sales and operating expenses, based primarily on expected category expansion, pricing, market segment share, and general economic conditions.
We completed the required annual impairment test of goodwill for all reporting units and indefinite-lived intangible assets as of April 1, 2023, resulting in no impairments. The fair value of our reporting units substantially exceeded their carrying value. There were no events that caused us to update our annual impairment test.
Other Assets
Other Assets
Included in “Other assets” on our consolidated balance sheets are amounts primarily related to video and music content, net of accumulated amortization; long-term deferred tax assets; acquired intangible assets, net of accumulated amortization; equity warrant assets and certain equity investments; satellite network launch services deposits; and affordable housing loans. We recognize certain transactions with governments when there is reasonable assurance that incentives included in the agreements, such as cash or certain tax credits, will be received and we are able to comply with any related conditions. These incentives are recorded as reductions to the cost of related assets or expenses.
Digital Video and Music Content
Digital Video and Music Content
We obtain video content, inclusive of episodic television and movies, and music content for customers through licensing agreements that have a wide range of licensing provisions including both fixed and variable payment schedules. When the license fee for a specific video or music title is determinable or reasonably estimable and the content is available to us, we recognize an asset and a corresponding liability for the amounts owed. We reduce the liability as payments are made and we amortize the asset to “Cost of sales” on an accelerated basis, based on estimated usage or viewing patterns, or on a straight-line basis. If the licensing fee is not determinable or reasonably estimable, no asset or liability is recorded and licensing costs are expensed as incurred. We also develop original video content for which the production costs are capitalized and amortized to “Cost of sales” predominantly on an accelerated basis that follows the estimated viewing patterns associated with the content. The weighted average remaining life of our capitalized video content is 3.5 years. We review usage and viewing patterns impacting the amortization of capitalized video content on an ongoing basis and reflect any changes prospectively.
Our produced and licensed video content is primarily monetized together as a unit, referred to as a film group, in each major geography where we offer Amazon Prime memberships. These film groups are evaluated for impairment whenever an event occurs or circumstances change indicating the fair value is less than the carrying value. The total capitalized costs of video, which is primarily released content, and music as of December 31, 2022 and 2023 were $16.7 billion and $17.4 billion. Total video and music expense was $16.6 billion and $18.9 billion for the year ended December 31, 2022 and 2023. Total video and music expense includes licensing and production costs associated with content offered within Amazon Prime memberships, and costs associated with digital subscriptions and sold or rented content.
Investments
Investments
We generally invest our excess cash in AAA-rated money market funds and investment grade short- to intermediate-term marketable debt securities. Such investments are included in “Cash and cash equivalents” or “Marketable securities” on the accompanying consolidated balance sheets.
Marketable debt securities are classified as available-for-sale and reported at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss).” Each reporting period, we evaluate whether declines in fair value below carrying value are due to expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs. Expected credit losses are recorded as an allowance through “Other income (expense), net” on our consolidated statements of operations.
Convertible notes classified as available for sale, equity investments in private companies for which we do not have the ability to exercise significant influence and accounted for at cost, and equity investments accounted for using the equity method of accounting are included within “Other assets” on our consolidated balance sheets.
In Q3 2023, we invested in a $1.25 billion note from Anthropic, PBC, which is convertible to equity. The note is classified as available for sale and reported at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss).” The note is classified as a Level 3 asset. We have an agreement that expires in Q1 2024 to invest up to an additional $2.75 billion in a second convertible note. We also have a commercial arrangement primarily for the provision of AWS cloud services, which includes the use of AWS chips.
Equity investments in private companies for which we do not have the ability to exercise significant influence are accounted for at cost, with adjustments for observable changes in prices or impairments, with adjustments recognized in “Other income (expense), net” on our consolidated statements of operations. Each reporting period, we perform a qualitative assessment to evaluate whether the investment is impaired. Our assessment includes a review of recent operating results and trends, recent sales/acquisitions of the investee securities, and other publicly available data. If the investment is impaired, we write it down to its estimated fair value. As of December 31, 2022 and 2023, these investments had a carrying value of $715 million and $754 million.
Equity investments are accounted for using the equity method of accounting, or at fair value if we elect the fair value option, if the investment gives us the ability to exercise significant influence, but not control, over an investee. Our share of the earnings or losses as reported by equity-method investees, amortization of basis differences, related gains or losses, and impairments, if any, are recognized in “Equity-method investment activity, net of tax” on our consolidated statements of operations. Each reporting period, we evaluate whether declines in fair value below carrying value are other-than-temporary and if so, we write down the investment to its estimated fair value.
Equity investments that have readily determinable fair values, including investments for which we have elected the fair value option, are included in “Marketable securities” on our consolidated balance sheets and measured at fair value with changes recognized in “Other income (expense), net” on our consolidated statements of operations.
Long-Lived Assets
Long-Lived Assets
Long-lived assets, other than goodwill and indefinite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or any other significant adverse change that would indicate that the carrying amount of an asset or group of assets may not be recoverable.
For long-lived assets used in operations, including lease assets, impairment losses are only recorded if the asset’s carrying amount is not recoverable through its undiscounted, probability-weighted future cash flows. We measure the impairment loss based on the difference between the carrying amount and estimated fair value. Long-lived assets are considered held for sale when certain criteria are met, including when management has committed to a plan to sell the asset, the asset is available for sale in its immediate condition, and the sale is probable within one year of the reporting date. Assets held for sale are reported at the lower of cost or fair value less costs to sell.
Accrued Expenses and Other
Accrued Expenses and Other
Included in “Accrued expenses and other” on our consolidated balance sheets are liabilities primarily related to leases and asset retirement obligations, tax-related liabilities, current debt, payroll and related expenses, unredeemed gift cards, self-insurance liabilities, customer liabilities, marketing liabilities, acquired digital media content, and other operating expenses.
As of December 31, 2022 and 2023, our liabilities for payroll related expenses were $7.7 billion and our liabilities for unredeemed gift cards were $5.4 billion and $5.3 billion. We reduce the liability for a gift card when redeemed by a customer. The portion of gift cards that we do not expect to be redeemed is recognized based on customer usage patterns.
Self-Insurance Liabilities
Self-Insurance Liabilities
Although we maintain certain high-deductible, third-party insurance coverage for catastrophic losses, we effectively self-insure for exposure primarily related to workers’ compensation, employee health care benefits, general and product liability, and automobile liability, including liability resulting from third-party transportation service providers. We estimate self-insurance liabilities by considering historical claims experience, frequency and costs of claims, projected claims development, inflation, and other actuarial assumptions. Changes in the number or costs of claims, healthcare costs, judgment and settlement amounts, associated legal expenses, and other factors could cause actual results to differ materially from these estimates. In the fourth quarter of 2022, we increased our reserves for general, product, and automobile liabilities by $1.3 billion primarily driven by changes in our estimates about the costs of asserted and unasserted claims, which was primarily recorded in “Cost of sales” on our consolidated statements of operations and impacted our North America segment. Increases to our reserves driven by changes in estimates were not material to our consolidated results of operations for the years ended December 31, 2021 and
2023. As of December 31, 2022 and 2023, our total self-insurance liabilities were $4.0 billion and $6.3 billion and are included in “Accrued expenses and other” on our consolidated balance sheets.
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, 2022 was $16.1 billion, of which $12.4 billion was recognized as revenue during the year ended December 31, 2023 and our total unearned revenue as of December 31, 2023 was $20.6 billion. Included in “Other long-term liabilities” on our consolidated balance sheets was $2.9 billion and $5.7 billion of unearned revenue as of December 31, 2022 and 2023.
Additionally, we have performance obligations, primarily related to AWS, associated with commitments in customer contracts for future services that have not yet been recognized in our financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were $155.7 billion as of December 31, 2023. The weighted average remaining life of our long-term contracts is 4.0 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
Other Long-Term Liabilities
Other Long-Term Liabilities
Included in “Other long-term liabilities” on our consolidated balance sheets are liabilities primarily related to financing obligations, unearned revenue, asset retirement obligations, tax contingencies, digital video and music content, and deferred tax liabilities.
Foreign Currency
Foreign Currency
We have internationally-focused stores for which the net sales generated, as well as most of the related expenses directly incurred from those operations, are denominated in local functional currencies. The functional currency of our subsidiaries that either operate or support these stores is generally the same as the local currency. Assets and liabilities of these subsidiaries are translated into U.S. Dollars at period-end foreign exchange rates, and revenues and expenses are translated at average rates prevailing throughout the period. Translation adjustments are included in “Accumulated other comprehensive income (loss),” a separate component of stockholders’ equity. Transaction gains and losses including intercompany transactions denominated in a currency other than the functional currency of the entity involved are included in “Other income (expense), net” on our consolidated statements of operations.
Accounting Pronouncements Not Yet Adopted
Accounting Pronouncements Not Yet Adopted
In December 2023, the Financial Accounting Standards Board issued an Accounting Standards Update (“ASU”) amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The ASU is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted and can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our income tax disclosures.
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Description of Business, Accounting Policies, and Supplemental Disclosures (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Supplemental Cash Flow Information
The following table shows supplemental cash flow information (in millions):
Year Ended December 31,
202120222023
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$1,098 $1,561 $2,608 
Cash paid for operating leases$6,722 $8,633 $10,453 
Cash paid for interest on finance leases$521 $374 $308 
Cash paid for interest on financing obligations$153 $207 $196 
Cash paid for income taxes, net of refunds$3,688 $6,035 $11,179 
Assets acquired under operating leases$25,369 $18,800 $14,052 
Property and equipment acquired under finance leases, net of remeasurements and modifications$7,061 $675 $642 
Property and equipment recognized during the construction period of build-to-suit lease arrangements$5,846 $3,187 $357 
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating$230 $5,158 $1,374 
Schedule of Calculation of Diluted Shares
The following table shows the calculation of diluted shares (in millions):
  
Year Ended December 31,
 202120222023
Shares used in computation of basic earnings per share10,117 10,189 10,304 
Total dilutive effect of outstanding stock awards179 — 188 
Shares used in computation of diluted earnings per share10,296 10,189 10,492 
Schedule of Other Income (Expense)
Other income (expense), net, is as follows (in millions):
Year Ended December 31,
202120222023
Marketable equity securities valuation gains (losses)$11,526 $(13,870)$984 
Equity warrant valuation gains (losses)1,315 (2,132)26 
Upward adjustments relating to equity investments in private companies1,866 76 40 
Foreign currency gains (losses)(55)(340)65 
Other, net(19)(540)(177)
Total other income (expense), net$14,633 $(16,806)$938 
Summarized Financial Information of Equity Investment
Required summarized financial information of Rivian as disclosed in its most recent SEC filings is as follows (in millions):
Year Ended
December 31, 2021		Year Ended
December 31, 2022		Nine Months Ended
September 30, 2023
Revenues$55 $1,658 $3,119 
Gross profit(465)(3,123)(1,424)
Loss from operations(4,220)(6,856)(4,158)
Net loss(4,688)(6,752)(3,911)

December 31, 2022September 30, 2023
Total current assets$13,130 $12,086 
Total assets17,876 16,456 
Total current liabilities2,424 2,624 
Total liabilities4,077 5,904 
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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Summary of 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, 2022
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$10,666 $— $— $10,666 
Level 1 securities:
Money market funds27,899 — — 27,899 
Equity securities (1)3,709 
Level 2 securities:
Foreign government and agency securities537 — (2)535 
U.S. government and agency securities2,301 — (155)2,146 
Corporate debt securities23,111 — (484)22,627 
Asset-backed securities2,721 — (149)2,572 
Other debt securities249 — (12)237 
$67,484 $— $(802)$70,391 
Less: Restricted cash, cash equivalents, and marketable securities (2)(365)
Total cash, cash equivalents, and marketable securities$70,026 
 December 31, 2023
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$11,706 $— $— $11,706 
Level 1 securities:
Money market funds39,160 — — 39,160 
Equity securities (1)4,658 
Level 2 securities:
Foreign government and agency securities505 — — 505 
U.S. government and agency securities1,789 1 (91)1,699 
Corporate debt securities27,996 — (191)27,805 
Asset-backed securities1,707 — (61)1,646 
Other debt securities108 — (4)104 
$82,971 $1 $(347)$87,283 
Less: Restricted cash, cash equivalents, and marketable securities (2)(503)
Total cash, cash equivalents, and marketable securities$86,780 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $11.6 billion, $(13.6) billion, and $1.0 billion for the years ended December 31, 2021, 2022, and 2023.
(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, and standby and trade letters of credit. 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 7 — Commitments and Contingencies.”
Summary of Gross Realized Gains (Losses) on Investments
The following table summarizes gross gains and gross losses realized on sales of marketable debt securities (in millions):
Year Ended December 31,
202120222023
Realized gains$85 $43 $2 
Realized losses38 341 67 
Summary of Contractual Maturities of Investments
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of December 31, 2023 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$65,224 $65,159 
Due after one year through five years4,635 4,430 
Due after five years through ten years411 394 
Due after ten years995 936 
Total$71,265 $70,919 
Actual maturities may differ from the contractual maturities because borrowers may have certain prepayment conditions.
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, 2022December 31, 2023
Cash and cash equivalents$53,888 $73,387 
Restricted cash included in accounts receivable, net and other358 497 
Restricted cash included in other assets7 6 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$54,253 $73,890 
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, 2022December 31, 2023
Cash and cash equivalents$53,888 $73,387 
Restricted cash included in accounts receivable, net and other358 497 
Restricted cash included in other assets7 6 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$54,253 $73,890 
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Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, at Cost
Property and equipment, at cost, consisted of the following (in millions): 
 December 31,
 20222023
Gross property and equipment (1):
Land and buildings$91,650 $105,293 
Equipment157,458 185,039 
Other assets4,602 5,116 
Construction in progress30,020 28,840 
Gross property and equipment283,730 324,288 
Total accumulated depreciation and amortization (1)97,015 120,111 
Total property and equipment, net$186,715 $204,177 
__________________
(1)Includes the original cost and accumulated depreciation of fully-depreciated assets.
v3.24.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Lease, Cost
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
 Year Ended December 31,
202120222023
Operating lease cost$7,199 $8,847 $10,550 
Finance lease cost:
Amortization of lease assets9,857 6,097 5,899 
Interest on lease liabilities473 361 304 
Finance lease cost10,330 6,458 6,203 
Variable lease cost1,556 1,852 2,165 
Total lease cost$19,085 $17,157 $18,918 
Other Operating and Finance Lease Information
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2022December 31, 2023
 
Weighted-average remaining lease term – operating leases11.6 years11.3 years
Weighted-average remaining lease term – finance leases10.3 years11.9 years
Weighted-average discount rate – operating leases2.8 %3.3 %
Weighted-average discount rate – finance leases2.3 %2.7 %
Operating and Finance Lease Liability Reconciliation
Our lease liabilities were as follows (in millions):
December 31, 2022
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$81,273 $18,019 $99,292 
Less: imputed interest(12,233)(2,236)(14,469)
Present value of lease liabilities69,040 15,783 84,823 
Less: current portion of lease liabilities(7,458)(4,397)(11,855)
Total long-term lease liabilities$61,582 $11,386 $72,968 
December 31, 2023
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$90,777 $14,106 $104,883 
Less: imputed interest(15,138)(1,997)(17,135)
Present value of lease liabilities75,639 12,109 87,748 
Less: current portion of lease liabilities(8,419)(2,032)(10,451)
Total long-term lease liabilities$67,220 $10,077 $77,297 
v3.24.0.1
Acquisitions, Goodwill, and Acquired Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combinations [Abstract]  
Summary of Goodwill Activity The following summarizes our goodwill activity in 2022 and 2023 by segment (in millions):
North
America		InternationalAWSConsolidated
Goodwill - January 1, 2022$12,758 $1,327 $1,286 $15,371 
New acquisitions 3,943 1,054 — 4,997 
Other adjustments (1)(80)30 (30)(80)
Goodwill - December 31, 202216,621 2,411 1,256 20,288 
New acquisitions2,494 — — 2,494 
Other adjustments (1)11 1 (5)7 
Goodwill - December 31, 2023$19,126 $2,412 $1,251 $22,789 
 ___________________
(1)Primarily includes changes in foreign exchange rates.
Schedule of Acquired Finite-Lived Intangible Assets by Major Class
Acquired identifiable intangible assets are valued primarily by using discounted cash flows. These assets are included within “Other assets” on our consolidated balance sheets and consist of the following (in millions):
 
 December 31,
 20222023
  
Acquired
Intangibles,
Gross (1)		Accumulated
Amortization (1)		Acquired
Intangibles,
Net		Acquired
Intangibles,
Gross (1)		Accumulated
Amortization (1)		Acquired
Intangibles,
Net		Weighted
Average Life
Remaining
Finite-lived intangible assets (2):
Marketing-related$2,407 $(601)$1,806 $2,643 $(738)$1,905 17.5
Contract-based3,661 (813)2,848 4,800 (1,129)3,671 11.7
Technology- and content-based883 (643)240 743 (340)403 5.1
Customer-related184 (128)56 749 (188)561 6.6
Total finite-lived intangible assets$7,135 $(2,185)$4,950 $8,935 $(2,395)$6,540 12.5
IPR&D and other (3)$1,147  $1,147 $1,147  $1,147 
Total acquired intangibles $8,282 $(2,185)$6,097 $10,082 $(2,395)$7,687 
 ___________________
(1)Excludes the original cost and accumulated amortization of fully-amortized intangibles.
(2)Finite-lived intangible assets, excluding acquired video content, have estimated useful lives of between one and twenty-five years, and are being amortized to operating expenses on a straight-line basis.
(3)Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Expected future amortization expense of acquired finite-lived intangible assets as of December 31, 2023 is as follows (in millions):
 
Year Ended December 31,
2024$715 
2025631 
2026563 
2027552 
2028534 
Thereafter3,545 
$6,540 
v3.24.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Long-term Debt Obligations Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2022December 31, 2023
2014 Notes issuance of $6.0 billion
2024 - 2044
3.80% - 4.95%
3.90% - 5.12%
4,000 4,000 
2017 Notes issuance of $17.0 billion
2024 - 2057
2.80% - 5.20%
2.95% - 4.33%
16,000 15,000 
2020 Notes issuance of $10.0 billion
2025 - 2060
0.80% - 2.70%
0.88% - 2.77%
10,000 9,000 
2021 Notes issuance of $18.5 billion
2024 - 2061
0.45% - 3.25%
0.57% - 3.31%
18,500 17,500 
April 2022 Notes issuance of $12.8 billion
2024 - 2062
2.73% - 4.10%
2.83% - 4.15%
12,750 12,750 
December 2022 Notes issuance of $8.3 billion
2024 - 2032
4.55% - 4.70%
4.61% - 4.83%
8,250 8,250 
Credit Facility1,042 682 
Total face value of long-term debt70,542 67,182 
Unamortized discount and issuance costs, net(393)(374)
Less: current portion of long-term debt(2,999)(8,494)
Long-term debt$67,150 $58,314 
___________________
(1)The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, and December 2022 Notes were 11.6, 14.1, 17.5, 13.1, 12.3, and 4.9 years as of December 31, 2023. The combined weighted-average remaining life of the Notes was 12.7 years as of December 31, 2023.
Future Principal Payments for Debt
As of December 31, 2023, future principal payments for our total long-term debt were as follows (in millions):
Year Ended December 31,
2024$8,500 
20255,286 
20263,146 
20278,750 
20282,250 
Thereafter39,250 
$67,182 
v3.24.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2023
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 December 31, 2023 (in millions):
 Year Ended December 31,  
 20242025202620272028ThereafterTotal
Long-term debt principal and interest$10,616 $7,175 $4,858 $10,404 $3,643 $60,176 $96,872 
Operating lease liabilities11,229 9,922 9,156 8,321 7,546 44,603 90,777 
Finance lease liabilities, including interest2,292 1,471 1,369 1,123 1,022 6,829 14,106 
Financing obligations, including interest (1)469 462 468 476 484 6,282 8,641 
Leases not yet commenced2,034 2,620 2,836 2,852 2,979 24,860 38,181 
Unconditional purchase obligations (2)9,432 7,823 5,901 4,463 1,912 5,953 35,484 
Other commitments (3)3,273 1,390 1,125 759 680 9,121 16,348 
Total commitments$39,345 $30,863 $25,713 $28,398 $18,266 $157,824 $300,409 
___________________
(1)Includes non-cancellable financing obligations for fulfillment network and data center facilities. Excluding interest, current financing obligations of $266 million and $271 million are recorded within “Accrued expenses and other” and $6.7 billion and $6.6 billion are recorded within “Other long-term liabilities” as of December 31, 2022 and 2023. The weighted-average remaining term of the financing obligations was 17.9 years and 17.0 years and the weighted-average imputed interest rate was 3.1% as of December 31, 2022 and 2023.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content that are not reflected on the consolidated balance sheets, and certain products offered in our Whole Foods Market stores. For those digital media content agreements with variable terms, we do not estimate the total obligation beyond any minimum quantities and/or pricing as of the reporting date. Purchase obligations associated with renewal provisions solely at the option of the content provider are included to the extent such commitments are fixed or a minimum amount is specified. Renewable energy agreements based on actual generation without a fixed or minimum volume commitment are not included. These agreements also provide the right to receive renewable energy certificates for no additional consideration.
(3)Includes asset retirement obligations, liabilities associated with digital media content agreements with initial terms greater than one year, and the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction. Excludes approximately $5.2 billion of income tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
v3.24.0.1
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Expense
Stock-based compensation expense is as follows (in millions):
Year Ended December 31,
202120222023
Cost of sales$540 $757 $836 
Fulfillment1,946 2,745 3,090 
Technology and infrastructure6,645 10,621 13,434 
Sales and marketing2,530 3,875 4,623 
General and administrative1,096 1,623 2,040 
Total stock-based compensation expense (1)$12,757 $19,621 $24,023 
___________________
(1)The related tax benefits were $2.7 billion, $4.3 billion, and $5.4 billion for 2021, 2022, and 2023.
Summary of Restricted Stock Unit Activity
The following table summarizes our restricted stock unit activity (in millions):
Number of UnitsWeighted Average
Grant-Date
Fair Value
Outstanding as of January 1, 2021303.3 $100 
Units granted127.3 167 
Units vested(108.4)85 
Units forfeited(42.3)116 
Outstanding as of December 31, 2021279.9 134 
Units granted262.8 142 
Units vested(113.3)114 
Units forfeited(45.0)143 
Outstanding as of December 31, 2022384.4 144 
Units granted218.1 106 
Units vested(139.9)143 
Units forfeited(56.8)135 
Outstanding as of December 31, 2023405.8 125 
Scheduled Vesting of Outstanding Restricted Stock Units
Scheduled vesting for outstanding restricted stock units as of December 31, 2023, is as follows (in millions):
 Year Ended    
 20242025202620272028ThereafterTotal
Scheduled vesting — restricted stock units218.3 124.6 48.7 11.2 1.3 1.7 405.8 
v3.24.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Components of Provision for Income Taxes, Net
The components of the provision (benefit) for income taxes, net are as follows (in millions):
 Year Ended December 31,
202120222023
U.S. Federal:
Current$2,129 $2,175 $8,652 
Deferred155 (6,686)(5,505)
Total2,284 (4,511)3,147 
U.S. State:
Current763 1,074 2,158 
Deferred(178)(1,302)(498)
Total585 (228)1,660 
International:
Current2,209 1,682 2,186 
Deferred(287)(160)127 
Total1,922 1,522 2,313 
Provision (benefit) for income taxes, net$4,791 $(3,217)$7,120 
Components of Income Before Income Taxes, Domestic and Foreign
U.S. and international components of income (loss) before income taxes are as follows (in millions):
 Year Ended December 31,
 202120222023
U.S.$35,879 $(8,225)$32,328 
International2,272 2,289 5,229 
Income (loss) before income taxes$38,151 $(5,936)$37,557 
Effective Income Tax Rate Reconciliation
The items accounting for differences between income taxes computed at the federal statutory rate and the provision (benefit) recorded for income taxes are as follows (in millions):
 Year Ended December 31,
 202120222023
Income taxes computed at the federal statutory rate$8,012 $(1,246)$7,887 
Effect of:
Tax impact of foreign earnings and losses(1,349)(370)594 
State taxes, net of federal benefits465 (173)1,307 
Tax credits(1,136)(1,006)(2,362)
Stock-based compensation (1)(1,094)612 1,047 
Foreign income deduction (2)(301)(1,258)(1,429)
Other, net194 224 76 
Total$4,791 $(3,217)$7,120 
___________________
(1)Includes non-deductible stock-based compensation and excess tax benefits or shortfalls from stock-based compensation. Our tax provision includes $1.9 billion of excess tax benefits from stock-based compensation for 2021, and $33 million and $519 million of tax shortfalls from stock-based compensation for 2022 and 2023.
(2)U.S. companies are eligible for a deduction that lowers the effective tax rate on certain foreign income. This regime is referred to as the Foreign-Derived Intangible Income deduction and is dependent on the amount of our U.S. taxable income.
Deferred Tax Assets and Liabilities
Deferred income tax assets and liabilities are as follows (in millions):
 December 31,
 20222023
Deferred tax assets (1):
Loss carryforwards U.S. - Federal/States386 610 
Loss carryforwards - Foreign2,831 2,796 
Accrued liabilities, reserves, and other expenses3,280 3,751 
Stock-based compensation4,295 5,279 
Depreciation and amortization1,009 1,114 
Operating lease liabilities18,285 19,922 
Capitalized research and development6,824 14,800 
Other items1,023 745 
Tax credits950 1,582 
Total gross deferred tax assets38,883 50,599 
Less valuation allowances (2)(4,374)(4,811)
Deferred tax assets, net of valuation allowances34,509 45,788 
Deferred tax liabilities:
Depreciation and amortization(9,039)(12,454)
Operating lease assets(17,140)(18,648)
Other items(817)(1,489)
Net deferred tax assets (liabilities), net of valuation allowances$7,513 $13,197 
 ___________________
(1)Deferred tax assets are presented after tax effects and net of tax contingencies.
(2)Relates primarily to deferred tax assets that would only be realizable upon the generation of net income in certain foreign taxing jurisdictions or future capital gains, as well as tax credits.
Reconciliation of Income Tax Contingencies
The reconciliation of our income tax contingencies is as follows (in millions):
 December 31,
 202120222023
Gross tax contingencies – January 1$2,820 $3,242 $4,002 
Gross increases to tax positions in prior periods403 274 440 
Gross decreases to tax positions in prior periods(354)(172)(38)
Gross increases to current period tax positions507 706 1,009 
Settlements with tax authorities(60)(20)(106)
Lapse of statute of limitations(74)(28)(79)
Gross tax contingencies – December 31 (1)$3,242 $4,002 $5,228 
 ___________________
(1)As of December 31, 2023, we had approximately $5.2 billion of income tax contingencies of which $3.3 billion, if fully recognized, would decrease our effective tax rate.
v3.24.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Information on Reportable Segments and Reconciliation to Consolidated Net Income (Loss)
Information on reportable segments and reconciliation to consolidated net income (loss) is as follows (in millions):
  
Year Ended December 31,
 202120222023
North America
Net sales$279,833 $315,880 $352,828 
Operating expenses272,562 318,727 337,951 
Operating income (loss)$7,271 $(2,847)$14,877 
International
Net sales$127,787 $118,007 $131,200 
Operating expenses128,711 125,753 133,856 
Operating loss$(924)$(7,746)$(2,656)
AWS
Net sales$62,202 $80,096 $90,757 
Operating expenses43,670 57,255 66,126 
Operating income$18,532 $22,841 $24,631 
Consolidated
Net sales$469,822 $513,983 $574,785 
Operating expenses444,943 501,735 537,933 
Operating income24,879 12,248 36,852 
Total non-operating income (expense)13,272 (18,184)705 
Benefit (provision) for income taxes(4,791)3,217 (7,120)
Equity-method investment activity, net of tax4 (3)(12)
Net income (loss)$33,364 $(2,722)$30,425 
Disaggregation of Revenue
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):
  
Year Ended December 31,
 202120222023
Net Sales:
Online stores (1)$222,075 $220,004 $231,872 
Physical stores (2)17,075 18,963 20,030 
Third-party seller services (3)103,366 117,716 140,053 
Advertising services (4)31,160 37,739 46,906 
Subscription services (5)31,768 35,218 40,209 
AWS62,202 80,096 90,757 
Other (6)2,176 4,247 4,958 
Consolidated$469,822 $513,983 $574,785 
___________________
(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 certain licensing and distribution of video content, health care services, and shipping services, and our co-branded credit card agreements.
Net Sales Attributed to Countries that Represent a Significant Portion of Consolidated Net Sales Net sales attributed to countries that represent a significant portion of consolidated net sales are as follows (in millions):
 Year Ended December 31,
 202120222023
United States$314,006 $356,113 $395,637 
Germany37,326 33,598 37,588 
United Kingdom31,914 30,074 33,591 
Japan23,071 24,396 26,002 
Rest of world63,505 69,802 81,967 
Consolidated$469,822 $513,983 $574,785 
Reconciliation of Assets from Segment to Consolidated Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31,
 202120222023
North America (1)$161,255 $185,268 $196,029 
International (1)57,983 64,666 69,718 
AWS (2)63,835 88,491 108,533 
Corporate137,476 124,250 153,574 
Consolidated$420,549 $462,675 $527,854 
___________________
(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,
 202120222023
North America$83,640 $90,076 $93,632 
International21,718 23,347 24,357 
AWS43,245 60,324 72,701 
Corporate11,678 12,968 13,487 
Consolidated$160,281 $186,715 $204,177 
Reconciliation of Property and Equipment Additions and Depreciation from Segments to Consolidated
Total net additions to property and equipment by segment are as follows (in millions):
 Year Ended December 31,
 202120222023
North America (1)$37,397 $23,682 $17,529 
International (1)10,259 6,711 4,144 
AWS (2)22,047 27,755 24,843 
Corporate2,622 2,688 1,828 
Consolidated$72,325 $60,836 $48,344 
___________________
(1)Includes property and equipment added under finance leases of $3.6 billion, $422 million, and $525 million in 2021, 2022, and 2023, and under build-to-suit lease arrangements of $5.6 billion, $3.2 billion, and $356 million in 2021, 2022, and 2023.
(2)Includes property and equipment added under finance leases of $3.5 billion, $253 million, and $117 million in 2021, 2022, and 2023, and under build-to-suit lease arrangements of $51 million, $20 million, and $1 million in 2021, 2022, and 2023.
Total depreciation and amortization expense, by segment, is as follows (in millions):
 Year Ended December 31,
 202120222023
North America$9,234 $11,565 $13,678 
International3,022 3,483 4,016 
AWS10,653 9,876 12,531 
Consolidated$22,909 $24,924 $30,225 
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Description of Business (Details)
 12 Months Ended
Dec. 31, 2023
segment
Accounting Policies [Abstract]  
Number of operating segments 3
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Common Stock Split (Details)
May 27, 2022
$ / shares
Dec. 31, 2023
$ / shares
Dec. 31, 2022
$ / shares
Accounting Policies [Abstract]      
Stock split ratio 20    
Common stock, par value (in usd per share) $ 0.01 $ 0.01 $ 0.01
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Use of Estimates (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jan. 31, 2024
Jan. 31, 2022
Property, Plant and Equipment [Line Items]              
Impact on operating income     $ 36,852 $ 12,248 $ 24,879    
Impairments $ 720     1,100      
Expenses for terminating contracts       480      
Severance costs $ 640     720      
AWS              
Property, Plant and Equipment [Line Items]              
Impact on operating income     $ 24,631 $ 22,841 $ 18,532    
Change in useful lives of servers and networking equipment | Forecast              
Property, Plant and Equipment [Line Items]              
Impact on operating income   $ 3,100          
Servers              
Property, Plant and Equipment [Line Items]              
Estimated useful lives of assets     5 years   4 years   5 years
Servers | Subsequent event              
Property, Plant and Equipment [Line Items]              
Estimated useful lives of assets           6 years  
Networking equipment              
Property, Plant and Equipment [Line Items]              
Estimated useful lives of assets     6 years   5 years    
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]      
Cash paid for interest on debt, net of capitalized interest $ 2,608 $ 1,561 $ 1,098
Cash paid for operating leases 10,453 8,633 6,722
Cash paid for interest on finance leases 308 374 521
Cash paid for interest on financing obligations 196 207 153
Cash paid for income taxes, net of refunds 11,179 6,035 3,688
Assets acquired under operating leases 14,052 18,800 25,369
Property and equipment acquired under finance leases, net of remeasurements and modifications 642 675 7,061
Property and equipment recognized during the construction period of build-to-suit lease arrangements 357 3,187 5,846
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating $ 1,374 $ 5,158 $ 230
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Calculation of Diluted Shares (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]      
Shares used in computation of basic earnings per share 10,304 10,189 10,117
Total dilutive effect of outstanding stock awards 188 0 179
Shares used in computation of diluted earnings per share 10,492 10,189 10,296
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]      
Liability for return allowance $ 1,400 $ 1,300 $ 1,000
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Rights to recover products from customers 992 948 882
Sales Returns and Allowances      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Additions to allowance for returns 5,200 5,500 5,100
Deductions to allowance for returns $ 5,100 $ 5,200 $ 4,900
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Marketing (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]      
Advertising and other promotional costs $ 20.3 $ 20.6 $ 16.9
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Stock-Based Compensation (Details)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement, Tranche One  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Percentage of compensation cost expensed in first year 50.00%
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Other Income (Expense), Net (Details) - USD ($)
shares in Millions, $ in Millions
 9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]        
Marketable equity securities valuation gains (losses)   $ 984 $ (13,870) $ 11,526
Equity warrant valuation gains (losses)   26 (2,132) 1,315
Upward adjustments relating to equity investments in private companies   40 76 1,866
Foreign currency gains (losses)   65 (340) (55)
Other, net   (177) (540) (19)
Total other income (expense), net   938 (16,806) 14,633
Schedule of Equity Method Investments [Line Items]        
Marketable equity securities valuation gains (losses)   984 (13,870) 11,526
Equity investment, discount due to lack of marketability       800
Loss from operations   36,852 12,248 24,879
Net income (loss)   30,425 (2,722) 33,364
Total current assets   172,351 146,791  
Total assets   527,854 462,675 420,549
Current liabilities   164,917 155,393  
Equity Method Investment, Nonconsolidated Investee or Group of Investees        
Accounting Policies [Abstract]        
Marketable equity securities valuation gains (losses)   797 (12,700)  
Schedule of Equity Method Investments [Line Items]        
Marketable equity securities valuation gains (losses)   $ 797 (12,700)  
Equity investment, shares held (in shares)   158    
Equity investment, ownership interest   16.00%    
Equity investment, voting interest   15.00%    
Revenue $ 3,119   1,658 55
Gross profit (1,424)   (3,123) (465)
Loss from operations (4,158)   (6,856) (4,220)
Net income (loss) (3,911)   (6,752) $ (4,688)
Total current assets 12,086   13,130  
Total assets 16,456   17,876  
Current liabilities 2,624   2,424  
Total liabilities $ 5,904   4,077  
Equity investment, fair value   $ 3,700 $ 2,900  
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Fair Value of Financial Instruments (Details) - USD ($)
$ in Billions
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Warrants, location Other assets Other assets
Fair Value, Inputs, Level 2 | Equity Warrant    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of warrants $ 2.2 $ 2.1
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Inventories (Details) - USD ($)
$ in Billions
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]    
Inventory valuation allowance $ 3.0 $ 2.8
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Accounts Receivable, Net and Other (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other $ 52,253 $ 42,360  
Prepaid expenses and other current assets 5,400 4,500  
Allowance for doubtful accounts 1,700 1,400 $ 1,100
Additions to allowance for doubtful accounts 1,900 1,600 1,000
Deductions to allowance for doubtful accounts 1,600 1,300 $ 1,100
Customer receivables      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other 34,100 26,600  
Vendor receivables      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other 8,500 6,900  
Seller receivables      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other 1,000 1,300  
Other Receivables      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other $ 3,300 $ 3,100  
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Property and Equipment, Net (Details)
Dec. 31, 2023
Jan. 31, 2022
Dec. 31, 2021
Building      
Property, Plant and Equipment [Line Items]      
Estimated useful lives of assets 40 years    
Servers      
Property, Plant and Equipment [Line Items]      
Estimated useful lives of assets 5 years 5 years 4 years
Networking equipment      
Property, Plant and Equipment [Line Items]      
Estimated useful lives of assets 6 years   5 years
Heavy equipment      
Property, Plant and Equipment [Line Items]      
Estimated useful lives of assets 10 years    
Minimum | Other fulfillment equipment      
Property, Plant and Equipment [Line Items]      
Estimated useful lives of assets 3 years    
Maximum | Other fulfillment equipment      
Property, Plant and Equipment [Line Items]      
Estimated useful lives of assets 10 years    
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Leases (Details)
 12 Months Ended
Dec. 31, 2023
Equipment | Minimum  
Lessee, Lease, Description [Line Items]  
Lessee, operating and finance lease, term of contract 1 year
Equipment | Maximum  
Lessee, Lease, Description [Line Items]  
Lessee, operating and finance lease, term of contract 10 years
Property | Minimum  
Lessee, Lease, Description [Line Items]  
Lessee, operating and finance lease, term of contract 1 year
Property | Maximum  
Lessee, Lease, Description [Line Items]  
Lessee, operating and finance lease, term of contract 20 years
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Goodwill and Indefinite-Lived Intangible Assets (Details)
$ in Millions
Apr. 01, 2023
USD ($)
Accounting Policies [Abstract]  
Goodwill and indefinite-lived intangible asset impairment $ 0
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Digital Video and Music Content (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]    
Weighted average remaining life, capitalized video content 3 years 6 months  
Video and music content, capitalized costs $ 17.4 $ 16.7
Video and music content, expense $ 18.9 $ 16.6
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Investments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]    
Payments to acquire nonmarketable securities $ 1,250  
Nonmarketable securities, agreed additional investment, maximum 2,750  
Equity investments in private companies $ 754 $ 715
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Accrued Expenses and Other (Details) - USD ($)
$ in Billions
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]    
Payroll-related liabilities $ 7.7 $ 7.7
Disaggregation of Revenue [Line Items]    
Payroll-related liabilities 7.7 7.7
Customer liability 20.6 16.1
Gift card    
Disaggregation of Revenue [Line Items]    
Customer liability $ 5.3 $ 5.4
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Self-Insurance Liabilities (Details) - USD ($)
$ in Billions
 3 Months Ended
Dec. 31, 2022
Dec. 31, 2023
Accounting Policies [Abstract]    
Increase in self-insurance liabilities $ 1.3  
Self-insurance liabilities $ 4.0 $ 6.3
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Unearned Revenue (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]    
Customer liability $ 20.6 $ 16.1
Unearned revenue, revenue recognized 12.4  
Unearned revenue, long-term 5.7 $ 2.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Remaining performance obligation, contracts exceeding one year $ 155.7  
Remaining performance obligation, weighted average remaining life 4 years  
v3.24.0.1
Description of Business, Accounting Policies, and Supplemental Disclosures - Foreign Currency (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]      
Transaction gain (loss) arising from intercompany foreign currency transactions $ (329) $ 386 $ 19
v3.24.0.1
Financial Instruments - Fair Values on Recurring Basis (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Equity Securities, FV-NI, Gain (Loss)      
Equity securities, unrealized gain (loss) $ 1,000 $ (13,600) $ 11,600
Recurring      
Schedule of Investments [Line Items]      
Cash 11,706 10,666  
Cost or Amortized Cost      
Cash, cash equivalents and short-term investments 82,971 67,484  
Gross Unrealized Gains      
Cash equivalents and marketable securities 1 0  
Gross Unrealized Losses      
Cash equivalents and marketable securities (347) (802)  
Total Estimated Fair Value      
Cash, cash equivalents and short-term investments 87,283 70,391  
Less: Restricted cash, cash equivalents, and marketable securities (503) (365)  
Total cash, cash equivalents, and marketable securities 86,780 70,026  
Recurring | Level 1 securities      
Total Estimated Fair Value      
Equity securities 4,658 3,709  
Recurring | Level 1 securities | Money market funds      
Schedule of Investments [Line Items]      
Money market funds 39,160 27,899  
Recurring | Level 1 securities | Money market funds | Money market funds      
Schedule of Investments [Line Items]      
Money market funds 39,160    
Recurring | Level 2 securities | Foreign government and agency securities      
Cost or Amortized Cost      
Cash equivalents and marketable securities 505 537  
Gross Unrealized Gains      
Cash equivalents and marketable securities 0 0  
Gross Unrealized Losses      
Cash equivalents and marketable securities 0 (2)  
Total Estimated Fair Value      
Cash equivalents and marketable securities 505 535  
Recurring | Level 2 securities | U.S. government and agency securities      
Cost or Amortized Cost      
Cash equivalents and marketable securities 1,789 2,301  
Gross Unrealized Gains      
Cash equivalents and marketable securities 1 0  
Gross Unrealized Losses      
Cash equivalents and marketable securities (91) (155)  
Total Estimated Fair Value      
Cash equivalents and marketable securities 1,699 2,146  
Recurring | Level 2 securities | Corporate debt securities      
Cost or Amortized Cost      
Cash equivalents and marketable securities 27,996 23,111  
Gross Unrealized Gains      
Cash equivalents and marketable securities 0 0  
Gross Unrealized Losses      
Cash equivalents and marketable securities (191) (484)  
Total Estimated Fair Value      
Cash equivalents and marketable securities 27,805 22,627  
Recurring | Level 2 securities | Asset-backed securities      
Cost or Amortized Cost      
Cash equivalents and marketable securities 1,707 2,721  
Gross Unrealized Gains      
Cash equivalents and marketable securities 0 0  
Gross Unrealized Losses      
Cash equivalents and marketable securities (61) (149)  
Total Estimated Fair Value      
Cash equivalents and marketable securities 1,646 2,572  
Recurring | Level 2 securities | Other debt securities      
Cost or Amortized Cost      
Cash equivalents and marketable securities 108 249  
Gross Unrealized Gains      
Cash equivalents and marketable securities 0 0  
Gross Unrealized Losses      
Cash equivalents and marketable securities (4) (12)  
Total Estimated Fair Value      
Cash equivalents and marketable securities $ 104 $ 237  
v3.24.0.1
Financial Instruments - Gross Gains and Gross Losses Realized on Sales of Available-For-Sale Marketable Securities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Debt Securities, Available-for-Sale, Realized Gain (Loss) [Abstract]      
Realized gains $ 2 $ 43 $ 85
Realized losses $ 67 $ 341 $ 38
v3.24.0.1
Financial Instruments - Contractual Maturities (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Amortized Cost  
Due within one year $ 65,224
Due after one year through five years 4,635
Due after five years through ten years 411
Due after ten years 995
Total 71,265
Estimated Fair Value  
Due within one year 65,159
Due after one year through five years 4,430
Due after five years through ten years 394
Due after ten years 936
Total $ 70,919
v3.24.0.1
Financial Instruments - Reconciliation to Cash Flow (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Reconciliation to Cash Flow [Abstract]        
Cash and cash equivalents $ 73,387 $ 53,888    
Restricted cash included in accounts receivable, net and other 497 358    
Restricted cash included in other assets 6 7    
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 73,890 $ 54,253 $ 36,477 $ 42,377
v3.24.0.1
Property and Equipment - Components (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Property, Plant and Equipment [Line Items]      
Gross property and equipment $ 324,288 $ 283,730  
Total accumulated depreciation and amortization 120,111 97,015  
Total property and equipment, net 204,177 186,715 $ 160,281
Land and buildings      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 105,293 91,650  
Equipment      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 185,039 157,458  
Other assets      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 5,116 4,602  
Construction in progress      
Property, Plant and Equipment [Line Items]      
Gross property and equipment $ 28,840 $ 30,020  
v3.24.0.1
Property and Equipment - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Property, Plant and Equipment [Abstract]      
Depreciation and amortization expense $ 30,225 $ 24,924 $ 22,909
Amortization of lease assets $ 5,899 $ 6,097 $ 9,857
v3.24.0.1
Leases - Additional Information (Details) - USD ($)
$ in Billions
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]    
Finance lease asset location Property and equipment, net Property and equipment, net
Finance lease asset $ 62.5 $ 68.0
Accumulated amortization associated with finance leases $ 44.7 $ 45.2
v3.24.0.1
Leases - Lease Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Lease, Cost [Abstract]      
Operating lease cost $ 10,550 $ 8,847 $ 7,199
Finance lease cost:      
Amortization of lease assets 5,899 6,097 9,857
Interest on lease liabilities 304 361 473
Finance lease cost 6,203 6,458 10,330
Variable lease cost 2,165 1,852 1,556
Total lease cost $ 18,918 $ 17,157 $ 19,085
v3.24.0.1
Leases - Other Operating and Finance Lease Information (Details)
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]    
Weighted-average remaining lease term – operating leases 11 years 3 months 18 days 11 years 7 months 6 days
Weighted-average remaining lease term – finance leases 11 years 10 months 24 days 10 years 3 months 18 days
Weighted-average discount rate – operating leases 3.30% 2.80%
Weighted-average discount rate – finance leases 2.70% 2.30%
v3.24.0.1
Leases - Operating and Finance Lease Reconciliation (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]    
Operating leases, gross lease liabilities $ 90,777 $ 81,273
Finance leases, gross lease liabilities 14,106 18,019
Gross lease liabilities 104,883 99,292
Imputed interest - operating leases (15,138) (12,233)
Imputed interest - finance leases (1,997) (2,236)
Imputed interest (17,135) (14,469)
Present value of operating leases 75,639 69,040
Present value of finance leases 12,109 15,783
Present value of lease liabilities 87,748 84,823
Current portion of operating leases (8,419) (7,458)
Current portion of finance leases (2,032) (4,397)
Current portion of lease liabilities (10,451) (11,855)
Total long-term operating lease liabilities 67,220 61,582
Total long-term finance lease liabilities 10,077 11,386
Long-term lease liabilities $ 77,297 $ 72,968
Operating lease liabilities, current, location Accrued expenses and other Accrued expenses and other
Finance lease liabilities, current, location Accrued expenses and other Accrued expenses and other
Operating lease liabilities, long-term, location Long-term lease liabilities Long-term lease liabilities
Finance lease liabilities, long-term, location Long-term lease liabilities Long-term lease liabilities
v3.24.0.1
Acquisitions, Goodwill, and Acquired Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Feb. 22, 2023
Mar. 17, 2022
Aug. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Business Acquisition [Line Items]            
Goodwill       $ 22,789 $ 20,288 $ 15,371
Amortization expense for acquired intangibles       $ 706 604 512
Other Acquisitions            
Business Acquisition [Line Items]            
Aggregate purchase price         $ 141 $ 496
MGM Holdings Inc            
Business Acquisition [Line Items]            
Cash paid, net of cash acquired   $ 6,100        
Debt assumed   2,500        
Video content assets acquired   3,400        
Goodwill   $ 4,900        
1Life Healthcare            
Business Acquisition [Line Items]            
Aggregate purchase price $ 3,500          
Goodwill 2,500          
Amount capitalized to in-process research and development intangible assets $ 1,300          
iRobot Corporation            
Business Acquisition [Line Items]            
Expected acquisition price     $ 1,700      
v3.24.0.1
Acquisitions, Goodwill, and Acquired Intangible Assets - Summary of Goodwill Activity by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Goodwill [Roll Forward]    
Goodwill, balance at beginning of period $ 20,288 $ 15,371
New acquisitions 2,494 4,997
Other adjustments 7 (80)
Goodwill, balance at end of period 22,789 20,288
North America    
Goodwill [Roll Forward]    
Goodwill, balance at beginning of period 16,621 12,758
New acquisitions 2,494 3,943
Other adjustments 11 (80)
Goodwill, balance at end of period 19,126 16,621
International    
Goodwill [Roll Forward]    
Goodwill, balance at beginning of period 2,411 1,327
New acquisitions 0 1,054
Other adjustments 1 30
Goodwill, balance at end of period 2,412 2,411
AWS    
Goodwill [Roll Forward]    
Goodwill, balance at beginning of period 1,256 1,286
New acquisitions 0 0
Other adjustments (5) (30)
Goodwill, balance at end of period $ 1,251 $ 1,256
v3.24.0.1
Acquisitions, Goodwill, and Acquired Intangible Assets - Acquired Intangible Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]    
Acquired finite-lived intangible assets, gross $ 8,935 $ 7,135
Accumulated amortization (2,395) (2,185)
Acquired finite-lived intangible assets, net 6,540 4,950
Acquired indefinite-lived intangible assets - IPR&D and other 1,147 1,147
Acquired Intangibles, Gross 10,082 8,282
Acquired Intangibles, Net $ 7,687 6,097
Weighted Average Life Remaining 12 years 6 months  
Minimum    
Acquired Finite-Lived Intangible Assets [Line Items]    
Intangible assets, estimated useful life 1 year  
Maximum    
Acquired Finite-Lived Intangible Assets [Line Items]    
Intangible assets, estimated useful life 25 years  
Marketing-related    
Acquired Finite-Lived Intangible Assets [Line Items]    
Acquired finite-lived intangible assets, gross $ 2,643 2,407
Accumulated amortization (738) (601)
Acquired finite-lived intangible assets, net $ 1,905 1,806
Weighted Average Life Remaining 17 years 6 months  
Contract-based    
Acquired Finite-Lived Intangible Assets [Line Items]    
Acquired finite-lived intangible assets, gross $ 4,800 3,661
Accumulated amortization (1,129) (813)
Acquired finite-lived intangible assets, net $ 3,671 2,848
Weighted Average Life Remaining 11 years 8 months 12 days  
Technology- and content-based    
Acquired Finite-Lived Intangible Assets [Line Items]    
Acquired finite-lived intangible assets, gross $ 743 883
Accumulated amortization (340) (643)
Acquired finite-lived intangible assets, net $ 403 240
Weighted Average Life Remaining 5 years 1 month 6 days  
Customer-related    
Acquired Finite-Lived Intangible Assets [Line Items]    
Acquired finite-lived intangible assets, gross $ 749 184
Accumulated amortization (188) (128)
Acquired finite-lived intangible assets, net $ 561 $ 56
Weighted Average Life Remaining 6 years 7 months 6 days  
v3.24.0.1
Acquisitions, Goodwill, and Acquired Intangible Assets - Expected Future Amortization Expense of Acquired Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Year Ended December 31,    
2024 $ 715  
2025 631  
2026 563  
2027 552  
2028 534  
Thereafter 3,545  
Acquired finite-lived intangible assets, net $ 6,540 $ 4,950
v3.24.0.1
Debt - Additional Information (Details)
 1 Months Ended 12 Months Ended
Nov. 30, 2023
USD ($)
extension
Jan. 31, 2023
USD ($)
Nov. 30, 2022
Dec. 31, 2023
USD ($)
Dec. 31, 2023
EUR (€)
Dec. 31, 2022
USD ($)
Mar. 31, 2022
USD ($)
Debt Instrument [Line Items]              
Total face value of long-term debt       $ 67,182,000,000   $ 70,542,000,000  
Term Loan | Loans Payable              
Debt Instrument [Line Items]              
Issuance amount   $ 8,000,000,000          
Credit term   364 days          
Term Loan | Secured Overnight Financing Rate | Loans Payable              
Debt Instrument [Line Items]              
Basis spread on variable rate   0.75%          
Commercial Paper              
Debt Instrument [Line Items]              
Credit term       397 days      
Commercial paper, maximum borrowing capacity         € 3,000,000,000   $ 20,000,000,000
Commercial paper       $ 0   $ 6,800,000,000  
Weighted average effective interest rate           4.50%  
The Credit Agreement | Credit Facility              
Debt Instrument [Line Items]              
Basis spread on variable rate 0.45%            
Maximum borrowing capacity $ 15,000,000,000            
Commitment fee percentage 0.03%            
Credit Agreement, additional term 1 year            
Short-term borrowings outstanding       0   $ 0  
April 2018 Revolving Credit Facility | Credit Facility              
Debt Instrument [Line Items]              
Short-term borrowings outstanding       0   0  
Short Term Credit Agreement | Credit Facility              
Debt Instrument [Line Items]              
Credit term     364 days        
Short-term borrowings outstanding       0   0  
November 2023 Short-Term Credit Agreement | Credit Facility              
Debt Instrument [Line Items]              
Credit term 364 days            
Basis spread on variable rate 0.45%            
Maximum borrowing capacity $ 5,000,000,000            
Commitment fee percentage 0.03%            
Credit Agreement, number of extensions | extension 1            
Credit Agreement, additional term 364 days            
Short-term borrowings outstanding       0   0  
Short Term Credit Facilities, Working Capital Purposes              
Debt Instrument [Line Items]              
Short-term borrowings outstanding       147,000,000   1,200,000,000  
Senior Notes              
Debt Instrument [Line Items]              
Total face value of long-term debt       66,500,000,000      
Estimated fair value of notes       60,600,000,000   61,400,000,000  
Line of Credit and Other Long-term Debt              
Debt Instrument [Line Items]              
Total face value of long-term debt       682,000,000      
Credit Facility | October 2016 Revolving Credit Facility              
Debt Instrument [Line Items]              
Maximum borrowing capacity       $ 1,500,000,000      
Commitment fee percentage       0.45%      
Borrowings outstanding       $ 682,000,000   $ 1,000,000,000  
Stated interest rate       6.60% 6.60% 5.60%  
Collateral amount       $ 806,000,000   $ 1,200,000,000  
Credit Facility | October 2016 Revolving Credit Facility | LIBOR              
Debt Instrument [Line Items]              
Basis spread on variable rate       1.25%      
Credit Facility | Short Term Credit Facilities, Working Capital Purposes | Letter of credit              
Debt Instrument [Line Items]              
Unused capacity       $ 6,800,000,000      
v3.24.0.1
Debt - Long-Term Debt Obligations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Total face value of long-term debt $ 67,182 $ 70,542
Less: current portion of long-term debt (8,494) (2,999)
Long-term debt 58,314 67,150
Senior Notes    
Debt Instrument [Line Items]    
Total face value of long-term debt 66,500  
Unamortized discount and issuance costs, net $ (374) (393)
Weighted average remaining lives term 12 years 8 months 12 days  
Senior Notes | 2014 Notes issuance of $6.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 6,000  
Total face value of long-term debt $ 4,000 4,000
Weighted average remaining lives term 11 years 7 months 6 days  
Senior Notes | 2014 Notes issuance of $6.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.80%  
Effective Interest Rates 3.90%  
Senior Notes | 2014 Notes issuance of $6.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.95%  
Effective Interest Rates 5.12%  
Senior Notes | 2017 Notes issuance of $17.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 17,000  
Total face value of long-term debt $ 15,000 16,000
Weighted average remaining lives term 14 years 1 month 6 days  
Senior Notes | 2017 Notes issuance of $17.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 2.80%  
Effective Interest Rates 2.95%  
Senior Notes | 2017 Notes issuance of $17.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 5.20%  
Effective Interest Rates 4.33%  
Senior Notes | 2020 Notes issuance of $10.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 10,000  
Total face value of long-term debt $ 9,000 10,000
Weighted average remaining lives term 17 years 6 months  
Senior Notes | 2020 Notes issuance of $10.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 0.80%  
Effective Interest Rates 0.88%  
Senior Notes | 2020 Notes issuance of $10.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 2.70%  
Effective Interest Rates 2.77%  
Senior Notes | 2021 Notes issuance of $18.5 billion    
Debt Instrument [Line Items]    
Issuance amount $ 18,500  
Total face value of long-term debt $ 17,500 18,500
Weighted average remaining lives term 13 years 1 month 6 days  
Senior Notes | 2021 Notes issuance of $18.5 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 0.45%  
Effective Interest Rates 0.57%  
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  
Total face value of long-term debt $ 12,750 12,750
Weighted average remaining lives term 12 years 3 months 18 days  
Senior Notes | April 2022 Notes issuance of $12.8 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 2.73%  
Effective Interest Rates 2.83%  
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  
Total face value of long-term debt $ 8,250 8,250
Weighted average remaining lives term 4 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 4.83%  
Credit Facility | Revolving Credit Facility    
Debt Instrument [Line Items]    
Total face value of long-term debt $ 682 $ 1,042
v3.24.0.1
Debt - Future Principal Payment for Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Year Ended December 31,    
2024 $ 8,500  
2025 5,286  
2026 3,146  
2027 8,750  
2028 2,250  
Thereafter 39,250  
Long-term debt, total $ 67,182 $ 70,542
v3.24.0.1
Commitments and Contingencies - Principal Contractual Commitments Excluding Open Orders (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Long-term debt principal and interest        
2024 $ 10,616      
2025 7,175      
2026 4,858      
2027 10,404      
2028 3,643      
Thereafter 60,176      
Long-term debt principal and interest 96,872      
Operating lease liabilities        
2024 11,229      
2025 9,922      
2026 9,156      
2027 8,321      
2028 7,546      
Thereafter 44,603      
Operating leases, gross lease liabilities 90,777 $ 81,273    
Finance lease liabilities, including interest        
2024 2,292      
2025 1,471      
2026 1,369      
2027 1,123      
2028 1,022      
Thereafter 6,829      
Finance leases, gross lease liabilities 14,106 18,019    
Financing obligations, including interest        
2024 469      
2025 462      
2026 468      
2027 476      
2028 484      
Thereafter 6,282      
Financing obligations, including interest 8,641      
Leases not yet commenced        
2024 2,034      
2025 2,620      
2026 2,836      
2027 2,852      
2028 2,979      
Thereafter 24,860      
Total 38,181      
Unconditional purchase obligations        
2024 9,432      
2025 7,823      
2026 5,901      
2027 4,463      
2028 1,912      
Thereafter 5,953      
Unconditional purchase obligations 35,484      
Other commitments        
2024 3,273      
2025 1,390      
2026 1,125      
2027 759      
2028 680      
Thereafter 9,121      
Other commitments 16,348      
Total commitments        
2024 39,345      
2025 30,863      
2026 25,713      
2027 28,398      
2028 18,266      
Thereafter 157,824      
Total 300,409      
Current financing obligations 271 266    
Noncurrent financing obligations $ 6,600 $ 6,700    
Weighted-average remaining term of financing obligations 17 years 17 years 10 months 24 days    
Weighted-average imputed interest rate of financing obligations 3.10% 3.10%    
Accrued tax contingencies $ 5,228 $ 4,002 $ 3,242 $ 2,820
v3.24.0.1
Commitments and Contingencies - Legal Proceedings (Details) - Pending Litigation
€ in Millions, $ in Millions
Jul. 31, 2023
USD ($)
Mar. 31, 2023
USD ($)
Apr. 30, 2022
USD ($)
Dec. 31, 2021
EUR (€)
Jul. 31, 2021
EUR (€)
Feb. 28, 2017
USD ($)
Eolas Technologies, Inc. | Minimum            
Loss Contingencies [Line Items]            
Estimate of possible loss           $ 130
Eolas Technologies, Inc. | Maximum            
Loss Contingencies [Line Items]            
Estimate of possible loss           $ 250
Rensselaer Polytechnic Institute and CF Dynamic Advances LLC | Minimum            
Loss Contingencies [Line Items]            
Estimate of possible loss   $ 140        
Rensselaer Polytechnic Institute and CF Dynamic Advances LLC | Maximum            
Loss Contingencies [Line Items]            
Estimate of possible loss   $ 267        
Kove IO, Inc. | Minimum            
Loss Contingencies [Line Items]            
Estimate of possible loss $ 517          
Kove IO, Inc. | Maximum            
Loss Contingencies [Line Items]            
Estimate of possible loss $ 1,030          
Luxembourg National Commission Matter            
Loss Contingencies [Line Items]            
Estimate of possible loss | €         € 746  
Italian Competition Authority Matter            
Loss Contingencies [Line Items]            
Estimate of possible loss | €       € 1,130    
BroadbandiTV | Minimum            
Loss Contingencies [Line Items]            
Estimate of possible loss     $ 166      
BroadbandiTV | Maximum            
Loss Contingencies [Line Items]            
Estimate of possible loss     $ 986      
v3.24.0.1
Stockholders' Equity - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Mar. 31, 2022
Feb. 29, 2016
Class of Stock [Line Items]          
Preferred stock, authorized (in shares) 500,000,000 500,000,000      
Preferred stock, par value (in usd per share) $ 0.01 $ 0.01      
Common shares outstanding plus underlying outstanding stock awards 10,800,000,000 10,600,000,000 10,500,000,000    
Repurchases of common stock (in shares) 0 46,200,000 0    
Repurchases of common stock   $ 6,000,000,000      
Amount remaining under repurchase program $ 6,100,000,000        
Net unrecognized compensation cost related to unvested stock-based compensation arrangements $ 18,300,000,000        
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) 10 months 24 days        
Estimated forfeiture rate 26.10% 26.50% 26.50%    
Common stock available for future issuance to employees (in shares) 1,600,000,000        
March 2022 Program          
Class of Stock [Line Items]          
Stock repurchase, authorized amount       $ 10,000,000,000  
February 2016 Program          
Class of Stock [Line Items]          
Stock repurchase, authorized amount         $ 5,000,000,000
Restricted Stock Units          
Class of Stock [Line Items]          
Fair value of units vested $ 17,600,000,000 $ 12,800,000,000 $ 18,200,000,000    
Minimum          
Class of Stock [Line Items]          
Award vesting period 2 years        
Maximum          
Class of Stock [Line Items]          
Award vesting period 5 years        
v3.24.0.1
Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 24,023 $ 19,621 $ 12,757
Tax benefits from stock-based compensation expense 5,400 4,300 2,700
Cost of sales      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 836 757 540
Fulfillment      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 3,090 2,745 1,946
Technology and infrastructure      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 13,434 10,621 6,645
Sales and marketing      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 4,623 3,875 2,530
General and administrative      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 2,040 $ 1,623 $ 1,096
v3.24.0.1
Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units - $ / shares
shares in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Number of Units      
Beginning balance (in shares) 384.4 279.9 303.3
Units granted (in shares) 218.1 262.8 127.3
Units vested (in shares) (139.9) (113.3) (108.4)
Units forfeited (in shares) (56.8) (45.0) (42.3)
Ending balance (in shares) 405.8 384.4 279.9
Weighted Average Grant-Date Fair Value      
Beginning Balance (in dollars per share) $ 144 $ 134 $ 100
Units granted (in dollars per share) 106 142 167
Units vested (in dollars per share) 143 114 85
Units forfeited (in dollars per share) 135 143 116
Ending Balance (in dollars per share) $ 125 $ 144 $ 134
v3.24.0.1
Stockholders' Equity - Scheduled Vesting for Outstanding Restricted Stock Units (Details) - Restricted Stock Units - shares
shares in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Scheduled vesting — restricted stock units        
2024 (in shares) 218.3      
2025 (in shares) 124.6      
2026 (in shares) 48.7      
2027 (in shares) 11.2      
2028 (in shares) 1.3      
Thereafter (in shares) 1.7      
Total (in shares) 405.8 384.4 279.9 303.3
v3.24.0.1
Income Taxes - Additional Information (Details)
€ in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Oct. 04, 2017
EUR (€)
Dec. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Income Tax Disclosure [Abstract]          
Provision (benefit) for income taxes, net     $ 7,120 $ (3,217) $ 4,791
Cash taxes paid, net of refunds     11,179 6,035 3,688
Utilization of deferred tax assets previously subject to valuation allowance   $ 655      
Income Taxes [Line Items]          
Accrued interest and penalties, net of federal income tax benefit, related to tax contingencies   $ 103 194 103  
Interest and penalties expense (benefit), net of federal income tax benefit     91 (7) 28
Income tax benefit recorded in current year related to prior year income taxes     600    
International          
Income Tax Disclosure [Abstract]          
Provision (benefit) for income taxes, net     2,313 $ 1,522 $ 1,922
Income Taxes [Line Items]          
Net operating loss carryforwards     $ 10,200    
International | Luxembourg Tax Administration          
Income Taxes [Line Items]          
Tax examination, estimate of additional tax expense | € € 250        
v3.24.0.1
Income Taxes - Components of Provision for Income Taxes, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
International:      
Provision (benefit) for income taxes, net $ 7,120 $ (3,217) $ 4,791
U.S. Federal      
U.S. Federal:      
Current 8,652 2,175 2,129
Deferred (5,505) (6,686) 155
International:      
Provision (benefit) for income taxes, net 3,147 (4,511) 2,284
U.S. State      
U.S. State:      
Current 2,158 1,074 763
Deferred (498) (1,302) (178)
International:      
Provision (benefit) for income taxes, net 1,660 (228) 585
International      
International:      
Current 2,186 1,682 2,209
Deferred 127 (160) (287)
Provision (benefit) for income taxes, net $ 2,313 $ 1,522 $ 1,922
v3.24.0.1
Income Taxes - U.S. and International Components of Income Before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
U.S. $ 32,328 $ (8,225) $ 35,879
International 5,229 2,289 2,272
Income (loss) before income taxes $ 37,557 $ (5,936) $ 38,151
v3.24.0.1
Income Taxes - Items Accounting for Differences Between Income Taxes Computed at Federal Statutory Rate and Provision Recorded for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Income taxes computed at the federal statutory rate $ 7,887 $ (1,246) $ 8,012
Effect of:      
Tax impact of foreign earnings and losses 594 (370) (1,349)
State taxes, net of federal benefits 1,307 (173) 465
Tax credits (2,362) (1,006) (1,136)
Stock-based compensation 1,047 612 (1,094)
Foreign income deduction (1,429) (1,258) (301)
Other, net 76 224 194
Provision (benefit) for income taxes, net 7,120 (3,217) 4,791
Excess tax (benefits) deficiency from stock-based compensation $ 519 $ 33 $ (1,900)
v3.24.0.1
Income Taxes - Deferred Income Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Deferred tax assets:    
Loss carryforwards U.S. - Federal/States $ 610 $ 386
Loss carryforwards - Foreign 2,796 2,831
Accrued liabilities, reserves, and other expenses 3,751 3,280
Stock-based compensation 5,279 4,295
Depreciation and amortization 1,114 1,009
Operating lease liabilities 19,922 18,285
Capitalized research and development 14,800 6,824
Other items 745 1,023
Tax credits 1,582 950
Total gross deferred tax assets 50,599 38,883
Less valuation allowance (4,811) (4,374)
Deferred tax assets, net of valuation allowances 45,788 34,509
Deferred tax liabilities:    
Depreciation and amortization (12,454) (9,039)
Operating lease assets (18,648) (17,140)
Other items (1,489) (817)
Net deferred tax assets (liabilities), net of valuation allowances $ 13,197 $ 7,513
v3.24.0.1
Income Taxes - Reconciliation of Income Tax Contingencies (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Gross tax contingencies – beginning of period $ 4,002 $ 3,242 $ 2,820
Gross increases to tax positions in prior periods 440 274 403
Gross decreases to tax positions in prior periods (38) (172) (354)
Gross increases to current period tax positions 1,009 706 507
Settlements with tax authorities (106) (20) (60)
Lapse of statute of limitations (79) (28) (74)
Gross tax contingencies - end of period 5,228 $ 4,002 $ 3,242
Tax contingencies, that if fully recognized, would decrease our effective tax rate $ 3,300    
v3.24.0.1
Segment Information - Additional Information (Details)
$ in Billions
 12 Months Ended
Dec. 31, 2023
USD ($)
segment
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Segment Reporting [Abstract]      
Number of operating segments | segment 3    
United States      
Segment Reporting Information [Line Items]      
Property and equipment, net and operating leases $ 196.0 $ 180.0 $ 155.0
Rest of world      
Segment Reporting Information [Line Items]      
Property and equipment, net and operating leases $ 80.7 $ 72.9 $ 61.3
v3.24.0.1
Segment Information - Reportable Segments and Reconciliation to Consolidated Net Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Net sales $ 574,785 $ 513,983 $ 469,822
Operating expenses 537,933 501,735 444,943
Operating Income (Loss) 36,852 12,248 24,879
Total non-operating income (expense) 705 (18,184) 13,272
Benefit (provision) for income taxes (7,120) 3,217 (4,791)
Equity-method investment activity, net of tax (12) (3) 4
Net income (loss) 30,425 (2,722) 33,364
North America      
Segment Reporting Information [Line Items]      
Net sales 352,828 315,880 279,833
Operating expenses 337,951 318,727 272,562
Operating Income (Loss) 14,877 (2,847) 7,271
International      
Segment Reporting Information [Line Items]      
Net sales 131,200 118,007 127,787
Operating expenses 133,856 125,753 128,711
Operating Income (Loss) (2,656) (7,746) (924)
AWS      
Segment Reporting Information [Line Items]      
Net sales 90,757 80,096 62,202
Operating expenses 66,126 57,255 43,670
Operating Income (Loss) $ 24,631 $ 22,841 $ 18,532
v3.24.0.1
Segment Information - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Disaggregation of Revenue [Line Items]      
Net sales $ 574,785 $ 513,983 $ 469,822
Online stores      
Disaggregation of Revenue [Line Items]      
Net sales 231,872 220,004 222,075
Physical stores      
Disaggregation of Revenue [Line Items]      
Net sales 20,030 18,963 17,075
Third-party seller services      
Disaggregation of Revenue [Line Items]      
Net sales 140,053 117,716 103,366
Advertising services      
Disaggregation of Revenue [Line Items]      
Net sales 46,906 37,739 31,160
Subscription services      
Disaggregation of Revenue [Line Items]      
Net sales 40,209 35,218 31,768
AWS      
Disaggregation of Revenue [Line Items]      
Net sales 90,757 80,096 62,202
Other      
Disaggregation of Revenue [Line Items]      
Net sales $ 4,958 $ 4,247 $ 2,176
v3.24.0.1
Segment Information - Net Sales Attributed to Countries Representing Portion of Consolidated Net Sales (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting, Revenue Reconciling Item      
Net sales $ 574,785 $ 513,983 $ 469,822
United States      
Segment Reporting, Revenue Reconciling Item      
Net sales 395,637 356,113 314,006
Germany      
Segment Reporting, Revenue Reconciling Item      
Net sales 37,588 33,598 37,326
United Kingdom      
Segment Reporting, Revenue Reconciling Item      
Net sales 33,591 30,074 31,914
Japan      
Segment Reporting, Revenue Reconciling Item      
Net sales 26,002 24,396 23,071
Rest of world      
Segment Reporting, Revenue Reconciling Item      
Net sales $ 81,967 $ 69,802 $ 63,505
v3.24.0.1
Segment Information - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets $ 527,854 $ 462,675 $ 420,549
Operating Segments | North America      
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets 196,029 185,268 161,255
Operating Segments | International      
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets 69,718 64,666 57,983
Operating Segments | AWS      
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets 108,533 88,491 63,835
Corporate      
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets $ 153,574 $ 124,250 $ 137,476
v3.24.0.1
Segment Information - Reconciliation of Property and Equipment from Segments to Consolidated (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net $ 204,177 $ 186,715 $ 160,281
Operating Segments | North America      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net 93,632 90,076 83,640
Operating Segments | International      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net 24,357 23,347 21,718
Operating Segments | AWS      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net 72,701 60,324 43,245
Corporate      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net $ 13,487 $ 12,968 $ 11,678
v3.24.0.1
Segment Information - Reconciliation of Property and Equipment Additions from Segments to Consolidated (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Property and equipment additions $ 48,344 $ 60,836 $ 72,325
Operating Segments | North America      
Segment Reporting Information [Line Items]      
Property and equipment additions 17,529 23,682 37,397
Operating Segments | International      
Segment Reporting Information [Line Items]      
Property and equipment additions 4,144 6,711 10,259
Operating Segments | AWS      
Segment Reporting Information [Line Items]      
Property and equipment additions 24,843 27,755 22,047
Operating Segments | AWS | Assets held under finance leases      
Segment Reporting Information [Line Items]      
Property and equipment additions 117 253 3,500
Operating Segments | AWS | Assets under financing obligations      
Segment Reporting Information [Line Items]      
Property and equipment additions 1 20 51
Operating Segments | North America and International | Assets held under finance leases      
Segment Reporting Information [Line Items]      
Property and equipment additions 525 422 3,600
Operating Segments | North America and International | Assets under financing obligations      
Segment Reporting Information [Line Items]      
Property and equipment additions 356 3,200 5,600
Corporate      
Segment Reporting Information [Line Items]      
Property and equipment additions $ 1,828 $ 2,688 $ 2,622
v3.24.0.1
Segment Information - Depreciation and Amortization Expense, by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Depreciation and amortization expense $ 30,225 $ 24,924 $ 22,909
North America      
Segment Reporting Information [Line Items]      
Depreciation and amortization expense 13,678 11,565 9,234
International      
Segment Reporting Information [Line Items]      
Depreciation and amortization expense 4,016 3,483 3,022
AWS      
Segment Reporting Information [Line Items]      
Depreciation and amortization expense $ 12,531 $ 9,876 $ 10,653