Document and Entity Information - shares |
3 Months Ended | |
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Mar. 31, 2018 |
Apr. 18, 2018 |
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| Document And Entity Information [Abstract] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Mar. 31, 2018 | |
| Document Fiscal Year Focus | 2018 | |
| Document Fiscal Period Focus | Q1 | |
| Entity Registrant Name | AMAZON COM INC | |
| Entity Central Index Key | 0001018724 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 485,226,904 |
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions |
3 Months Ended | |
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Mar. 31, 2018 |
Mar. 31, 2017 |
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| Income Statement [Abstract] | ||
| Net product sales | $ 31,605 | $ 23,734 |
| Net service sales | 19,437 | 11,980 |
| Total net sales | 51,042 | 35,714 |
| Operating expenses: | ||
| Cost of sales | 30,735 | 22,440 |
| Fulfillment | 7,792 | 4,697 |
| Marketing | 2,699 | 1,920 |
| Technology and content | 6,759 | 4,813 |
| General and administrative | 1,067 | 795 |
| Other operating expense, net | 63 | 44 |
| Total operating expenses | 49,115 | 34,709 |
| Operating income | 1,927 | 1,005 |
| Interest income | 80 | 39 |
| Interest expense | (330) | (139) |
| Other income (expense), net | 239 | 48 |
| Total non-operating income (expense) | (11) | (52) |
| Income before income taxes | 1,916 | 953 |
| Provision for income taxes | (287) | (229) |
| Net income | $ 1,629 | $ 724 |
| Basic earnings per share | $ 3.36 | $ 1.52 |
| Diluted earnings per share | $ 3.27 | $ 1.48 |
| Weighted-average shares used in computation of earnings per share: | ||
| Basic (in shares) | 484 | 477 |
| Diluted (in shares) | 498 | 490 |
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2018 |
Mar. 31, 2017 |
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| Statement of Comprehensive Income [Abstract] | ||
| Net income | $ 1,629 | $ 724 |
| Other comprehensive income (loss): | ||
| Foreign currency translation adjustments, net of tax of $(13) and $21 | 59 | 187 |
| Net change in unrealized gains (losses) on available-for-sale debt securities: | ||
| Unrealized gains (losses), net of tax of $(1) and $9 | (44) | (2) |
| Reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $0 and $0 | 2 | 3 |
| Net unrealized gains (losses) on available-for-sale debt securities | (42) | 1 |
| Total other comprehensive income (loss) | 17 | 188 |
| Comprehensive income | $ 1,646 | $ 912 |
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2018 |
Mar. 31, 2017 |
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| Statement of Comprehensive Income [Abstract] | ||
| Foreign currency translation adjustments, tax | $ 21 | $ (13) |
| Unrealized gains (losses), tax | 9 | (1) |
| Reclassification adjustment for losses (gains) included in “Other income (expense), net,” tax | $ 0 | $ 0 |
Consolidated Balance Sheets (Parenthetical) - $ / shares |
Mar. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Preferred stock, par value (in usd per share) | $ 0.01 | $ 0.01 |
| Preferred stock, authorized shares | 500,000,000 | 500,000,000 |
| Preferred stock, issued shares | 0 | 0 |
| Preferred stock, outstanding shares | 0 | 0 |
| Common stock, par value (in usd per share) | $ 0.01 | $ 0.01 |
| Common stock, authorized shares | 5,000,000,000 | 5,000,000,000 |
| Common stock, issued shares | 508,000,000 | 507,000,000 |
| Common stock, outstanding shares | 485,000,000 | 484,000,000 |
Accounting Policies |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies | ACCOUNTING POLICIES Unaudited Interim Financial Information We have prepared the accompanying consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our consolidated balance sheets, operating results, and cash flows for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for 2018 due to seasonal and other factors. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our 2017 Annual Report on Form 10-K. Prior Period Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation, including the addition of restricted cash to cash and cash equivalents on the consolidated statements of cash flows as a result of the adoption of new accounting guidance. Principles of Consolidation The consolidated financial statements include the accounts of Amazon.com, Inc., 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 China and that support our seller lending financing activities (collectively, the “Company”). Intercompany balances and transactions between consolidated entities are eliminated. The financial results of Whole Foods Market, Inc. (“Whole Foods Market”) have been included in our consolidated financial statements from the date of acquisition on August 28, 2017. 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, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, and inventory valuation. Actual results could differ materially from those 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. The following table shows the calculation of diluted shares (in millions):
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 the carrier or the customer. Third-party seller services - We offer programs that enable sellers to sell their products on our websites and their own branded websites, and fulfill orders through us. 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 as the services are rendered. Subscription services - Our subscription sales include fees associated with Amazon Prime memberships and access to content including audiobooks, e-books, digital video, digital music, 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 sales arrangements include global sales of compute, storage, database, and other service offerings. Revenue is allocated to the services provided based on stand-alone selling prices and is recognized as the services are rendered. Sales commissions we pay in connection with contracts that exceed one year are capitalized and amortized over the contract term. Other - Other revenue primarily includes sales of advertising services and is recognized as the services are rendered. 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 $468 million and $349 million as of December 31, 2017 and March 31, 2018. Included in “Inventories” on our consolidated balance sheets are assets totaling $406 million and $259 million as of December 31, 2017 and March 31, 2018, 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, digital media content costs, including video and music, packaging supplies, sortation and delivery centers and related equipment costs, and inbound and outbound shipping costs, including where we are the transportation service provider. 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 funds 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. Accounts Receivable, Net and Other Included in “Accounts receivable, net and other” on our consolidated balance sheets are amounts primarily related to customers, sellers, and vendors. As of December 31, 2017 and March 31, 2018, customer receivables, net, were $6.4 billion and $6.3 billion, seller receivables, net, were $692 million and $610 million, and vendor receivables, net, were $2.6 billion and $1.7 billion. Seller receivables are amounts due from sellers related to our seller lending program, which provides funding to sellers primarily to procure inventory. We estimate losses on receivables based on known troubled accounts and historical experience of losses incurred. 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 $348 million and $416 million as of December 31, 2017 and March 31, 2018. 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 Amazon Prime memberships and AWS services. Our total unearned revenue as of December 31, 2017 was $6.1 billion, of which $2.3 billion was recognized as revenue during the three months ended March 31, 2018, including adjustments related to the new revenue recognition guidance. Included in “Other long-term liabilities” on our consolidated balance sheets was $1.0 billion and $1.1 billion of unearned revenue as of December 31, 2017 and March 31, 2018. 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, the amount of revenue not yet recognized was $12.4 billion as of March 31, 2018. The weighted average remaining life of these contracts is 3.2 years. However, the timing of revenue recognition is largely driven by customer activity, some of which can extend beyond the original contractual term. Accrued Expenses and Other Included in “Accrued expenses and other” on our consolidated balance sheets are amounts primarily related to unredeemed gift cards, customer liabilities, leases and asset retirement obligations, current debt, acquired digital media content, and other operating expenses. As of December 31, 2017 and March 31, 2018, our liabilities for unredeemed gift cards were $3.0 billion and $1.7 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. Accounting Pronouncements Recently Adopted In May 2014, the FASB issued an Accounting Standards Update (“ASU”) amending revenue recognition guidance and requiring more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. We adopted this ASU on January 1, 2018 for all revenue contracts with our customers using the modified retrospective approach and increased retained earnings by approximately $650 million. The adjustment primarily relates to the unredeemed portion of our gift cards, which are now recognized over the expected customer usage period rather than waiting until gift cards expire or when the likelihood of redemption becomes remote. Other changes relate to our accounting for revenue related to Amazon-branded electronic devices sold through retailers, which are now recognized upon sale to the retailer rather than to end customers, and the recognition and classification of Amazon Prime memberships, which are now accounted for as a single performance obligation and recognized ratably over the membership period as service sales. Previously, Prime memberships were considered to be arrangements with multiple deliverables and were allocated among product sales and service sales. Other changes relate primarily to the presentation of revenue. Certain advertising services are now classified as revenue rather than a reduction in cost of sales, and sales of apps, in-app content, and certain digital media content are presented on a net basis. The impact of applying this ASU for the three months ended March 31, 2018 primarily resulted in a decrease in product sales and an increase in service sales driven by a reclassification of Prime membership fees of approximately $845 million, which are now accounted for as a single performance obligation and recognized over the membership period. Service sales also increased by approximately $560 million due to the reclassification of certain advertising services that were previously classified as a reduction of cost of sales. In January 2016, the FASB issued an ASU that updates certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Under this ASU, certain equity investments will be measured at fair value with changes recognized in net income. We adopted this ASU in Q1 2018 with no material impact to our consolidated financial statements. In October 2016, the FASB issued an ASU amending the accounting for income taxes. The new guidance requires the recognition of the income tax consequences of an intercompany asset transfer, other than transfers of inventory, when the transfer occurs. For intercompany transfers of inventory, the income tax effects will continue to be deferred until the inventory has been sold to a third party. We adopted this ASU in Q1 2018 with an increase of approximately $250 million to retained earnings and deferred tax assets net of valuation allowances. In November 2016, the FASB issued an ASU amending the presentation of restricted cash within the consolidated statements of cash flows. The new guidance requires that restricted cash be added to cash and cash equivalents on the consolidated statements of cash flows. We adopted this ASU in Q1 2018 on a retrospective basis with the following impacts to our consolidated statements of cash flows (in millions):
Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued an ASU amending the accounting for leases. The new guidance requires the recognition of lease assets and liabilities for operating leases with terms of more than 12 months, in addition to those currently recorded, on our consolidated balance sheets. Presentation of leases within the consolidated statements of operations and consolidated statements of cash flows will be generally consistent with the current lease accounting guidance. The ASU is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. We plan to adopt this ASU beginning in Q1 2019. We are continuing to evaluate the impact and expect the ASU will have a material impact on our consolidated financial statements, primarily to the consolidated balance sheets and related disclosures. |
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Cash, Cash Equivalents, and Marketable Securities |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash, Cash Equivalents, and Marketable Securities | CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND MARKETABLE SECURITIES As of December 31, 2017 and March 31, 2018, our cash, cash equivalents, restricted cash, and marketable securities primarily consisted of cash, U.S. and foreign government and agency securities, AAA-rated money market funds, and other investment grade securities. Cash equivalents and marketable securities are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: Level 1—Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3—Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. We measure the fair value of money market funds and equity securities based on quoted prices in active markets for identical assets or liabilities. All other financial instruments 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 any cash, cash equivalents, restricted cash, or marketable securities categorized as Level 3 assets as of December 31, 2017 and March 31, 2018. 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):
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The following table summarizes the contractual maturities of our cash equivalents and marketable fixed-income securities as of March 31, 2018 (in millions):
Actual maturities may differ from the contractual maturities because borrowers may have certain prepayment conditions. We also hold equity warrant assets giving us the right to acquire stock of other companies. As of December 31, 2017 and March 31, 2018, these warrants had a fair value of $441 million and $497 million, and are recorded within “Other assets” on our consolidated balance sheets. The related gain (loss) recorded in “Other income (expense), net” was $15 million and $45 million in Q1 2017 and Q1 2018. These assets are primarily classified as Level 2 assets. 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):
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Commitments and Contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Commitments We have entered into non-cancellable operating, capital, and finance leases for equipment and office, fulfillment, sortation, delivery, data center, physical store, and renewable energy facilities. Rental expense under operating lease agreements was $411 million and $791 million for Q1 2017 and Q1 2018. The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of March 31, 2018 (in millions):
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Pledged Assets As of December 31, 2017 and March 31, 2018, we have pledged or otherwise restricted $1.4 billion and $1.0 billion of our cash, cash equivalents, and marketable securities, and certain property and equipment as collateral for real estate leases, amounts due to third-party sellers in certain jurisdictions, debt, and standby and trade letters of credit. Other Contingencies In 2016, we determined that we processed and delivered orders of consumer products for certain individuals and entities located outside Iran covered by the Iran Threat Reduction and Syria Human Rights Act or other United States sanctions and export control laws. The consumer products included books, music, other media, apparel, home and kitchen, health and beauty, jewelry, office, consumer electronics, software, lawn and patio, grocery, and automotive products. Our review is ongoing and we have voluntarily reported these orders to the United States Treasury Department’s Office of Foreign Assets Control and the United States Department of Commerce’s Bureau of Industry and Security. We intend to cooperate fully with OFAC and BIS with respect to their review, which may result in the imposition of penalties. For additional information, see Item 5 of Part II, “Other Information — Disclosure Pursuant to Section 13(r) of the Exchange Act.” We are subject to claims related to various indirect taxes (such as sales, value added, consumption, service, and similar taxes), including in jurisdictions in which we already collect and remit such taxes. If the relevant taxing authorities were successfully to pursue these claims, we could be subject to significant additional tax liabilities. For example, in June 2017, the State of South Carolina issued an assessment for uncollected sales and use taxes for the period from January 2016 to March 2016, including interest and penalties. South Carolina is alleging that we should have collected sales and use taxes on transactions by our third-party sellers. We believe the assessment is without merit. If South Carolina or other states were successfully to seek additional adjustments of a similar nature, we could be subject to significant additional tax liabilities. We intend to defend ourselves vigorously in this matter. Legal Proceedings The Company is involved from time to time in claims, proceedings, and litigation, including the matters described in Item 8 of Part II, “Financial Statements and Supplementary Data — Note 7 — Commitments and Contingencies — Legal Proceedings” of our 2017 Annual Report on Form 10-K as supplemented by the following: In December 2014, Smartflash LLC and Smartflash Technologies Limited filed a complaint against Amazon.com, Inc., Amazon.com, LLC, AMZN Mobile, LLC, Amazon Web Services, Inc. and Audible, Inc. for patent infringement in the United States District Court for the Eastern District of Texas. The complaint alleges, among other things, that Amazon Appstore, Amazon Instant Video, Amazon Music, Audible Audiobooks, the Amazon Mobile Ad Network, certain Kindle and Fire devices, Kindle e-bookstore, Amazon’s proprietary Android operating system, and the servers involved in operating Amazon Appstore, Amazon Instant Video, Amazon Music, the Fire TV app, Audible Audiobooks, Cloud Drive, Cloud Player, Amazon Web Services, and Amazon Mobile Ad Network infringe seven related U.S. Patents: Nos. 7,334,720; 7,942,317; 8,033,458; 8,061,598; 8,118,221; 8,336,772; and 8,794,516, all entitled “Data Storage and Access Systems.” The complaint seeks an unspecified amount of damages, an injunction, enhanced damages, attorneys’ fees, costs, and interest. In May 2015, the case was stayed until further notice. In March 2017, in an unrelated lawsuit, the United States Court of Appeals for the Federal Circuit entered judgment invalidating all asserted claims of U.S. Patent Nos. 7,334,720; 8,118,221; and 8,336,772. In April 2018, in an unrelated lawsuit, the United States Court of Appeals for the Federal Circuit entered judgment invalidating all asserted claims of U.S. Patent Nos. 7,942,317; 8,033,458; 8,061,598; and 8,794,516. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter. In October 2017, SRC Labs, LLC and Saint Regis Mohawk Tribe filed a complaint for patent infringement against Amazon Web Services, Inc., Amazon.com, Inc., and VADATA, Inc. in the United States District Court for the Eastern District of Virginia. The complaint alleges, among other things, that certain AWS EC2 Instances infringe U.S. Patent Nos. 6,434,687, entitled “System and method for accelerating web site access and processing utilizing a computer system incorporating reconfigurable processors operating under a single operating system image”; 7,149,867, entitled “System and method of enhancing efficiency and utilization of memory bandwidth in reconfigurable hardware”; 7,225,324 and 7,620,800, both entitled “Multi-adaptive processing systems and techniques for enhancing parallelism and performance of computational functions”; and 9,153,311, entitled “System and method for retaining DRAM data when reprogramming reconfigurable devices with DRAM memory controllers.” The complaint seeks an unspecified amount of damages, enhanced damages, interest, and a compulsory on-going royalty. In February 2018, the Virginia district court transferred the case to the United States District Court for the Western District of Washington. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter. 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. In addition, for the matters disclosed above 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. See also “Note 7 — Income Taxes.” |
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Acquisitions, Goodwill, and Acquired Intangible Assets |
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Mar. 31, 2018 | |
| Business Combinations [Abstract] | |
| Acquisitions, Goodwill, and Acquired Intangible Assets | ACQUISITIONS, GOODWILL, AND ACQUIRED INTANGIBLE ASSETS 2018 Acquisition Activity On April 12, 2018, we acquired Ring Inc. for cash consideration of approximately $900 million, net of cash acquired, to expand our product and service offerings. We are currently in the process of estimating the fair values of the assets acquired and liabilities assumed and will include the impact of this acquisition in our Quarterly Report on Form 10-Q for the period ended June 30, 2018. During the three months ended March 31, 2018, we also acquired certain other companies for an aggregate purchase price of $39 million, net of cash acquired. We have completed the purchase price allocation for the Whole Foods Market acquisition as of March 31, 2018 with no material adjustments from those disclosed within our 2017 Annual Report on Form 10-K. |
Long-Term Debt |
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| Long-Term Debt | LONG-TERM DEBT As of March 31, 2018, we had $24.3 billion of unsecured senior notes outstanding (the “Notes”). As of December 31, 2017 and March 31, 2018, the net unamortized discount and debt issuance costs on the Notes was $99 million. We also have other long-term debt with a carrying amount, including the current portion and borrowings under our credit facility, of $692 million and $542 million as of December 31, 2017 and March 31, 2018. The face value of our total long-term debt obligations is as follows (in millions):
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Interest on the Notes issued in 2012 is payable semi-annually in arrears in May and November. Interest on the Notes issued in 2014 is payable semi-annually in arrears in June and December. Interest on the Notes issued in 2017 is payable semi-annually in arrears in February and August. Interest on the 2025 Notes is payable semi-annually in arrears in June and December. We may redeem the Notes at any time in whole, or from time to time, in part at specified redemption prices. We are not subject to any financial covenants under the Notes. The proceeds from the November 2012 and the December 2014 Notes were used for general corporate purposes. The proceeds from the August 2017 Notes were used to fund the consideration for the acquisition of Whole Foods Market, to repay notes due in 2017, and for general corporate purposes. The estimated fair value of the Notes was approximately $25.7 billion and $24.5 billion as of December 31, 2017 and March 31, 2018, which is based on quoted prices for our debt as of those dates. In October 2016, we entered into a $500 million secured revolving credit facility with a lender that is secured by certain seller receivables, which we subsequently increased to $600 million and may from time to time increase in the future subject to lender approval (the “Credit Facility”). The Credit Facility is available for a term of three years, bears interest at the London interbank offered rate (“LIBOR”) plus 1.65%, and has a commitment fee of 0.50% on the undrawn portion. There were $592 million and $489 million of borrowings outstanding under the Credit Facility as of December 31, 2017 and March 31, 2018, with weighted-average interest rates of 2.7% and 2.8% as of December 31, 2017 and March 31, 2018. As of December 31, 2017 and March 31, 2018, we have pledged $686 million and $579 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, 2017 and March 31, 2018. The other debt, including the current portion, had a weighted-average interest rate of 5.8% and 5.0% as of December 31, 2017 and March 31, 2018. We used the net proceeds from the issuance of this debt primarily to fund certain business operations. The estimated fair value of the other long-term debt, which is based on Level 2 inputs, approximated its carrying value as of December 31, 2017 and March 31, 2018. In May 2016, we entered into an unsecured revolving credit facility (the “Credit Agreement”) with a syndicate of lenders that provides us with a borrowing capacity of up to $3.0 billion. The Credit Agreement has a term of three years, but it may be extended for up to three additional one-year terms if approved by the lenders. The initial interest rate applicable to outstanding balances under the Credit Agreement is LIBOR plus 0.60%, with a commitment fee of 0.05% on the undrawn portion of the credit facility, under our current credit ratings. If our credit ratings are downgraded these rates could increase to as much as LIBOR plus 1.00% and 0.09%, respectively. There were no borrowings outstanding under the Credit Agreement as of December 31, 2017 and March 31, 2018. |
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Stockholders' Equity |
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| Stockholders' Equity | STOCKHOLDERS’ EQUITY Stock Repurchase Activity In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration. There were no repurchases of common stock in Q1 2017 or Q1 2018. Stock Award Activity Common shares outstanding plus shares underlying outstanding stock awards totaled 504 million as of December 31, 2017 and March 31, 2018. These totals include all vested and unvested stock awards outstanding, including those awards we estimate will be forfeited. Stock-based compensation expense is as follows (in millions):
The following table summarizes our restricted stock unit activity for the three months ended March 31, 2018 (in millions):
Scheduled vesting for outstanding restricted stock units as of March 31, 2018, is as follows (in millions):
As of March 31, 2018, there was $6.0 billion of net unrecognized compensation cost related to unvested stock-based compensation arrangements. This compensation is recognized on an accelerated basis with approximately half of the compensation expected to be expensed in the next twelve months, and has a weighted-average recognition period of 1.1 years. The estimated forfeiture rate as of December 31, 2017 and March 31, 2018 was 28%. Changes in our estimates and assumptions relating to forfeitures may cause us to realize material changes in stock-based compensation expense in the future. |
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Income Taxes |
3 Months Ended |
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Mar. 31, 2018 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | INCOME TAXES Our tax provision or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. Our quarterly tax provision, and our quarterly estimate of our annual effective tax rate, is subject to significant variation due to several factors, including variability in accurately predicting our pre-tax and taxable income and loss and the mix of jurisdictions to which they relate, intercompany transactions, the applicability of special tax regimes, changes in how we do business, acquisitions (including integrations) and investments, audit-related developments, changes in our stock price, changes in our deferred tax assets and liabilities and their valuation, foreign currency gains (losses), changes in statutes, regulations, case law, and administrative practices, principles, and interpretations related to tax, accounting, and other areas, including European Union state aid rules, and relative changes of expenses or losses for which tax benefits are not recognized. Additionally, our effective tax rate can be more or less volatile based on the amount of pre-tax income or loss. For example, the impact of discrete items and non-deductible expenses on our effective tax rate is greater when our pre-tax income is lower. The 2017 Tax Act was signed into law on December 22, 2017. The 2017 Tax Act significantly revised the U.S. corporate income tax by, among other things, lowering the statutory corporate tax rate from 35% to 21%, eliminating certain deductions, imposing a mandatory one-time tax on accumulated earnings of foreign subsidiaries, introducing new tax regimes, and changing how foreign earnings are subject to U.S. tax. The 2017 Tax Act also enhanced and extended through 2026 the option to claim accelerated depreciation deductions on qualified property. We have not completed our determination of the accounting implications of the 2017 Tax Act on our tax accruals. However, we have reasonably estimated the effects of the 2017 Tax Act and recorded provisional amounts in our financial statements as of December 31, 2017. We recorded a provisional tax benefit for the impact of the 2017 Tax Act of approximately $789 million. This amount was primarily comprised of the remeasurement of federal net deferred tax liabilities resulting from the permanent reduction in the U.S. statutory corporate tax rate to 21% from 35%, after taking into account the mandatory one-time tax on the accumulated earnings of our foreign subsidiaries. The amount of this one-time tax is not material. As we complete our analysis of the 2017 Tax Act, collect and prepare necessary data, and interpret any additional guidance issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, we may make adjustments to the provisional amounts. Those adjustments may materially impact our provision for income taxes in the period in which the adjustments are made. For 2018, we estimate that our effective tax rate will be favorably affected by the impact of excess tax benefits from stock-based compensation and the U.S. federal research and development credit and adversely affected by losses incurred in certain foreign jurisdictions for which we may not realize a tax benefit. Losses for which we may not realize a related tax benefit, primarily due to losses of foreign subsidiaries, reduce our pre-tax income without a corresponding reduction in our tax expense, and therefore increase our effective tax rate. We record valuation allowances against the deferred tax assets associated with losses for which we may not realize a related tax benefit. Our income tax provision for the three months ended March 31, 2017 was $229 million, which included $122 million of net discrete tax benefits primarily attributable to excess tax benefits from stock-based compensation, partially offset by the estimated impact of audit-related developments. Our income tax provision for the three months ended March 31, 2018 was $287 million, which included $368 million of net discrete tax benefits primarily attributable to excess tax benefits from stock-based compensation. Cash paid for income taxes, net of refunds was $246 million and $513 million in Q1 2017 and Q1 2018. As of December 31, 2017 and March 31, 2018, tax contingencies were $2.3 billion and $2.6 billion. We expect the total amount of tax contingencies will grow in 2018. In addition, changes in state, federal, and foreign tax laws may increase our tax contingencies. The timing of the resolution of income tax examinations is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next 12 months we will receive additional assessments by various tax authorities or possibly reach resolution of income tax examinations in one or more jurisdictions. These assessments or settlements could result in changes to our contingencies related to positions on tax filings on prior years’ tax filings. We are under examination, or may be subject to examination, by the Internal Revenue Service (“IRS”) for the calendar year 2005 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. As previously disclosed, we have received Notices of Proposed Adjustment (“NOPAs”) from the IRS for transactions undertaken in the 2005 and 2006 calendar years relating to transfer pricing with our foreign subsidiaries. The IRS is seeking to increase our U.S. taxable income by an amount that would result in additional federal tax of approximately $1.5 billion, subject to interest. On March 23, 2017, the U.S. Tax Court issued its decision regarding the issues raised in the IRS NOPAs. The Tax Court rejected the approach from the IRS NOPAs in determining transfer pricing adjustments in 2005 and 2006 for the transactions undertaken with our foreign subsidiaries and adopted, with adjustments, our suggested approach. In September 2017, the IRS appealed the decision to the U.S. Court of Appeals for the Ninth Circuit. We will continue to defend ourselves vigorously in this matter. If the Tax Court decision were reversed on appeal or if the IRS were to successfully assert transfer pricing adjustments of a similar nature to the NOPAs for transactions in subsequent years, we could be subject to significant additional tax liabilities. In October 2014, the European Commission opened a formal investigation to examine whether decisions by the tax authorities in Luxembourg with regard to the corporate income tax paid by certain of our subsidiaries comply with European Union rules on state aid. On October 4, 2017, the European Commission announced its decision that determinations by the tax authorities in Luxembourg did not comply with European Union rules on state aid. Based on that decision the European Commission announced an estimated recovery amount of approximately €250 million, plus interest, for the period May 2006 through June 2014, and ordered Luxembourg tax authorities to calculate the actual amount of additional taxes subject to recovery. Luxembourg computed an initial recovery amount, consistent with the European Commission’s decision, that we deposited into escrow in March 2018, subject to adjustment pending conclusion of all appeals. In December 2017, Luxembourg appealed the European Commission’s decision. We believe the European Commission’s decision to be without merit and will consider our legal options, including an appeal. We are also subject to taxation in various states and other foreign jurisdictions including Canada, China, Germany, India, Japan, Luxembourg, and the United Kingdom. We are under, or may be subject to, audit or examination and additional assessments by the relevant authorities in respect of these particular jurisdictions primarily for 2008 and thereafter. |
Segment Information |
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| 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,” “Marketing,” “Technology and content,” and “General and administrative” based on usage, which is generally reflected in the segment in which the costs are incurred. The majority of technology infrastructure costs are allocated to the AWS segment based on usage. The majority of the remaining non-infrastructure technology costs are incurred in the U.S. and are allocated to our North America segment. The results of Whole Foods Market are included in our North America and International segments based on physical location. There are no internal revenue transactions between our reportable segments. These segments reflect the way our chief operating decision maker evaluates the Company’s business performance and manages its operations. North America The North America segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and subscriptions through North America-focused websites. This segment includes export sales from these websites. International The International segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and subscriptions through internationally-focused websites. This segment includes export sales from these internationally-focused websites (including export sales from these sites to customers in the U.S., Mexico, and Canada), but excludes export sales from our North American websites. AWS The AWS segment consists of amounts earned from global sales of compute, storage, database, and other service offerings for start-ups, enterprises, government agencies, and academic institutions. Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):
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Accounting Policies (Policies) |
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| Unaudited Interim Financial Information | Unaudited Interim Financial Information We have prepared the accompanying consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our consolidated balance sheets, operating results, and cash flows for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for 2018 due to seasonal and other factors. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our 2017 Annual Report on Form 10-K. |
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| Prior Period Reclassifications | Prior Period Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation, including the addition of restricted cash to cash and cash equivalents on the consolidated statements of cash flows as a result of the adoption of new accounting guidance. |
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| Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of Amazon.com, Inc., 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 China and that support our seller lending financing activities (collectively, the “Company”). Intercompany balances and transactions between consolidated entities are eliminated. The financial results of Whole Foods Market, Inc. (“Whole Foods Market”) have been included in our consolidated financial statements from the date of acquisition on August 28, 2017. |
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| 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, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, and inventory valuation. Actual results could differ materially from those estimates. |
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| Earnings per Share | Earnings per Share Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we have a net loss, stock awards are excluded from our calculation of earnings per share as their inclusion would have an antidilutive effect. |
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| Revenue Recognition, Policy [Policy Text Block] | 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 the carrier or the customer. Third-party seller services - We offer programs that enable sellers to sell their products on our websites and their own branded websites, and fulfill orders through us. 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 as the services are rendered. Subscription services - Our subscription sales include fees associated with Amazon Prime memberships and access to content including audiobooks, e-books, digital video, digital music, 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 sales arrangements include global sales of compute, storage, database, and other service offerings. Revenue is allocated to the services provided based on stand-alone selling prices and is recognized as the services are rendered. Sales commissions we pay in connection with contracts that exceed one year are capitalized and amortized over the contract term. Other - Other revenue primarily includes sales of advertising services and is recognized as the services are rendered. |
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| Revenue Recognition, Allowances [Policy Text Block] | 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 $468 million and $349 million as of December 31, 2017 and March 31, 2018. Included in “Inventories” on our consolidated balance sheets are assets totaling $406 million and $259 million as of December 31, 2017 and March 31, 2018, for the rights to recover products from customers associated with our liabilities for return allowances. |
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| Cost of Sales, Policy [Policy Text Block] | Cost of Sales Cost of sales primarily consists of the purchase price of consumer products, digital media content costs, including video and music, packaging supplies, sortation and delivery centers and related equipment costs, and inbound and outbound shipping costs, including where we are the transportation service provider. 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. |
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| Cost of Sales, Vendor Allowances, Policy [Policy Text Block] | Vendor Agreements We have agreements with our vendors to receive funds 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. |
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| Receivables, Policy [Policy Text Block] | Accounts Receivable, Net and Other Included in “Accounts receivable, net and other” on our consolidated balance sheets are amounts primarily related to customers, sellers, and vendors. As of December 31, 2017 and March 31, 2018, customer receivables, net, were $6.4 billion and $6.3 billion, seller receivables, net, were $692 million and $610 million, and vendor receivables, net, were $2.6 billion and $1.7 billion. Seller receivables are amounts due from sellers related to our seller lending program, which provides funding to sellers primarily to procure inventory. We estimate losses on receivables based on known troubled accounts and historical experience of losses incurred. 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. |
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| Revenue Recognition, Deferred Revenue [Policy Text Block] | 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 Amazon Prime memberships and AWS services. Our total unearned revenue as of December 31, 2017 was $6.1 billion, of which $2.3 billion was recognized as revenue during the three months ended March 31, 2018, including adjustments related to the new revenue recognition guidance. Included in “Other long-term liabilities” on our consolidated balance sheets was $1.0 billion and $1.1 billion of unearned revenue as of December 31, 2017 and March 31, 2018. 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, the amount of revenue not yet recognized was $12.4 billion as of March 31, 2018. The weighted average remaining life of these contracts is 3.2 years. However, the timing of revenue recognition is largely driven by customer activity, some of which can extend beyond the original contractual term. |
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| Accrued Expenses And Other, Policy [Policy Text Block] | Accrued Expenses and Other Included in “Accrued expenses and other” on our consolidated balance sheets are amounts primarily related to unredeemed gift cards, customer liabilities, leases and asset retirement obligations, current debt, acquired digital media content, and other operating expenses. As of December 31, 2017 and March 31, 2018, our liabilities for unredeemed gift cards were $3.0 billion and $1.7 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. |
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| Accounting Pronouncements Recently Adopted and Accounting Pronouncements Not Yet Adopted | Accounting Pronouncements Recently Adopted In May 2014, the FASB issued an Accounting Standards Update (“ASU”) amending revenue recognition guidance and requiring more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. We adopted this ASU on January 1, 2018 for all revenue contracts with our customers using the modified retrospective approach and increased retained earnings by approximately $650 million. The adjustment primarily relates to the unredeemed portion of our gift cards, which are now recognized over the expected customer usage period rather than waiting until gift cards expire or when the likelihood of redemption becomes remote. Other changes relate to our accounting for revenue related to Amazon-branded electronic devices sold through retailers, which are now recognized upon sale to the retailer rather than to end customers, and the recognition and classification of Amazon Prime memberships, which are now accounted for as a single performance obligation and recognized ratably over the membership period as service sales. Previously, Prime memberships were considered to be arrangements with multiple deliverables and were allocated among product sales and service sales. Other changes relate primarily to the presentation of revenue. Certain advertising services are now classified as revenue rather than a reduction in cost of sales, and sales of apps, in-app content, and certain digital media content are presented on a net basis. The impact of applying this ASU for the three months ended March 31, 2018 primarily resulted in a decrease in product sales and an increase in service sales driven by a reclassification of Prime membership fees of approximately $845 million, which are now accounted for as a single performance obligation and recognized over the membership period. Service sales also increased by approximately $560 million due to the reclassification of certain advertising services that were previously classified as a reduction of cost of sales. In January 2016, the FASB issued an ASU that updates certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Under this ASU, certain equity investments will be measured at fair value with changes recognized in net income. We adopted this ASU in Q1 2018 with no material impact to our consolidated financial statements. In October 2016, the FASB issued an ASU amending the accounting for income taxes. The new guidance requires the recognition of the income tax consequences of an intercompany asset transfer, other than transfers of inventory, when the transfer occurs. For intercompany transfers of inventory, the income tax effects will continue to be deferred until the inventory has been sold to a third party. We adopted this ASU in Q1 2018 with an increase of approximately $250 million to retained earnings and deferred tax assets net of valuation allowances. In November 2016, the FASB issued an ASU amending the presentation of restricted cash within the consolidated statements of cash flows. The new guidance requires that restricted cash be added to cash and cash equivalents on the consolidated statements of cash flows. We adopted this ASU in Q1 2018 on a retrospective basis with the following impacts to our consolidated statements of cash flows (in millions):
Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued an ASU amending the accounting for leases. The new guidance requires the recognition of lease assets and liabilities for operating leases with terms of more than 12 months, in addition to those currently recorded, on our consolidated balance sheets. Presentation of leases within the consolidated statements of operations and consolidated statements of cash flows will be generally consistent with the current lease accounting guidance. The ASU is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. We plan to adopt this ASU beginning in Q1 2019. We are continuing to evaluate the impact and expect the ASU will have a material impact on our consolidated financial statements, primarily to the consolidated balance sheets and related disclosures. |
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Accounting Policies (Tables) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Calculation of Diluted Shares | The following table shows the calculation of diluted shares (in millions):
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| Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | We adopted this ASU in Q1 2018 on a retrospective basis with the following impacts to our consolidated statements of cash flows (in millions):
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Cash, Cash Equivalents, and Marketable Securities (Tables) |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value by Major Security Type | The following table summarizes, by major security type, our cash, cash equivalents, restricted cash, and marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in millions):
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| Investments Classified by Contractual Maturity Date | The following table summarizes the contractual maturities of our cash equivalents and marketable fixed-income securities as of March 31, 2018 (in millions):
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| Reconciliation of cash, cash equivalents, and restricted cash [Table Text Block] | 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):
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Commitments and Contingencies (Tables) |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal Contractual Commitments, Excluding Open Orders for Purchases | The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of March 31, 2018 (in millions):
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Long-Term Debt (Tables) |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt Obligations | The face value of our total long-term debt obligations is as follows (in millions):
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Stockholders' Equity (Tables) |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation Expense | Stock-based compensation expense is as follows (in millions):
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| Nonvested Restricted Stock Units Activity | Common shares outstanding plus shares underlying outstanding stock awards totaled 504 million as of December 31, 2017 |
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| Nonvested Share Activity | Scheduled vesting for outstanding restricted stock units as of March 31, 2018, is as follows (in millions):
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Segment Information (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Information on Reportable Segments and Reconciliation to Consolidated Net Income | Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
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| Disaggregation of Revenue | Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):
____________________________
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Accounting Policies - Calculation of Diluted Shares (Details) - shares shares in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2018 |
Mar. 31, 2017 |
|
| Accounting Policies [Abstract] | ||
| Shares used in computation of basic earnings per share | 484 | 477 |
| Total dilutive effect of outstanding stock awards | 14 | 13 |
| Shares used in computation of diluted earnings per share | 498 | 490 |
Accounting Policies Return Allowances (Details) - USD ($) $ in Millions |
Mar. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Accounting Policies [Abstract] | ||
| Contract with Customer, Refund Liability | $ 349 | $ 468 |
| Contract with Customer, Right to Recover Product | $ 259 | $ 406 |
Accounting Policies Accounts Receivable, Net and Other (Details) - USD ($) $ in Millions |
Mar. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Accounts receivable, net and other | $ 12,026 | $ 13,164 |
| Allowance for Doubtful Accounts Receivable, Current | 416 | 348 |
| Customer Receivables, net | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Accounts receivable, net and other | 6,300 | 6,400 |
| Seller Receivables, net | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Accounts receivable, net and other | 610 | 692 |
| Vendor Receivables, net | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Accounts receivable, net and other | $ 1,700 | $ 2,600 |
Accounting Policies Unearned Revenue (Details) - USD ($) $ in Billions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2018 |
Dec. 31, 2017 |
|
| Accounting Policies [Abstract] | ||
| Unearned revenue | $ 6.1 | |
| Unearned revenue, revenue recognized from beginning balance | $ 2.3 | |
| Unearned revenue, noncurrent | 1.1 | $ 1.0 |
| Remaining performance obligation, contracts exceeding one year | $ 12.4 | |
| Remaining performance obligation, expected timing of satisfaction, weighted average remaining life | 3 years 2 months |
Accounting Policies -Accrued Expenses and Other (Details) - USD ($) $ in Billions |
Mar. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Accounting Policies [Abstract] | ||
| Unredeemed gift certificates | $ 1.7 | $ 3.0 |
Accounting Policies Revenue, Initial Application Period Cumulative Effect Transition (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2018 |
Mar. 31, 2017 |
|
| Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
| Net service sales | $ 19,437 | $ 11,980 |
| Net product sales | 31,605 | 23,734 |
| Cost of sales | 30,735 | $ 22,440 |
| Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Subscription Services [Member] | ||
| Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
| Net service sales | 845 | |
| Net product sales | (845) | |
| Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Other Services [Member] | ||
| Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
| Net service sales | 560 | |
| Cost of sales | $ 560 | |
Cash, Cash Equivalents, and Marketable Securities - Contractual Maturities (Details) $ in Millions |
Mar. 31, 2018
USD ($)
|
|---|---|
| Amortized Cost | |
| Due within one year | $ 12,969 |
| Due after one year through five years | 3,434 |
| Due after five years through ten years | 248 |
| Due after ten years | 490 |
| Cash equivalents and marketable securities | 17,141 |
| Estimated Fair Value | |
| Due within one year | 12,960 |
| Due after one year through five years | 3,400 |
| Due after five years through ten years | 245 |
| Due after ten years | 482 |
| Cash equivalents and marketable securities | $ 17,087 |
Cash, Cash Equivalents, and Marketable Securities - Additional Information (Details) - Warrant - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2018 |
Mar. 31, 2017 |
Dec. 31, 2017 |
|
| Investments, Warrant Assets | |||
| Gain (loss) on warrant assets | $ 45 | $ 15 | |
| Level 2 assets | |||
| Investments, Warrant Assets | |||
| Fair value of warrant assets | $ 497 | $ 441 | |
Cash, Cash Equivalents, and Marketable Securities Reconciliation to Cash Flow (Details) - USD ($) $ in Millions |
Mar. 31, 2018 |
Dec. 31, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Mar. 31, 2016 |
|---|---|---|---|---|---|
| Reconciliation to Cash Flow [Abstract] | |||||
| Cash and cash equivalents | $ 16,676 | $ 20,522 | |||
| Restricted cash included in accounts receivable, net and other | 935 | 1,329 | |||
| Restricted cash included in other assets | 5 | 5 | |||
| Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows | $ 17,616 | $ 21,856 | $ 16,301 | $ 19,934 | $ 12,781 |
Commitments and Contingencies - Commitments (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2018 |
Mar. 31, 2017 |
|
| Commitments and Contingencies Disclosure [Abstract] | ||
| Rental expense under operating lease agreements | $ 791 | $ 411 |
Commitments and Contingencies - Pledged Assets (Details) - USD ($) $ in Billions |
Mar. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Commitments and Contingencies Disclosure [Abstract] | ||
| Pledged assets | $ 1.0 | $ 1.4 |
Acquisitions, Goodwill, and Acquired Intangible Assets - Additional Information (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
Apr. 12, 2018 |
Mar. 31, 2018 |
Mar. 31, 2017 |
Mar. 31, 2018 |
Mar. 31, 2017 |
|
| Business Acquisition [Line Items] | |||||
| Payments to acquire businesses, net of cash acquired | $ 13 | $ 45 | $ 13,939 | $ 146 | |
| Acquisition of Certain Other Companies | |||||
| Business Acquisition [Line Items] | |||||
| Aggregate purchase price | $ 39 | ||||
| Subsequent Event [Member] | Ring, Inc [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Payments to acquire businesses, net of cash acquired | $ 900 | ||||
Stockholders' Equity - Additional Information (Details) - USD ($) shares in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2018 |
Dec. 31, 2017 |
Feb. 29, 2016 |
|
| Class of Stock [Line Items] | |||
| Common shares outstanding plus underlying outstanding stock awards | 504 | ||
| Net unrecognized compensation cost related to unvested stock-based compensation arrangements | $ 6,000,000,000 | ||
| Compensation cost expected to be expensed in next twelve months, percentage | 50.00% | ||
| Net unrecognized compensation cost related to unvested stock-based compensation arrangements, weighted average recognition period (in years) | 1 year 1 month | ||
| Estimated forfeiture rate | 28.00% | 28.00% | |
| February 2016 Program | |||
| Class of Stock [Line Items] | |||
| Stock repurchase, authorized amount | $ 5,000,000,000 |
Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units shares in Millions, $ in Millions |
3 Months Ended |
|---|---|
|
Mar. 31, 2018
USD ($)
shares
| |
| Number of Units | |
| Beginning balance (in shares) | shares | 20.1 |
| Units granted (in shares) | shares | 0.7 |
| Units vested (in shares) | shares | (1.1) |
| Units forfeited (in shares) | shares | (0.6) |
| Ending balance (in shares) | shares | 19.1 |
| Weighted-Average Grant-Date Fair Value | |
| Beginning balance | $ | $ 725 |
| Units granted | $ | 1,464 |
| Units vested | $ | 440 |
| Units forfeited | $ | 750 |
| Ending balance | $ | $ 769 |
Stockholders' Equity - Scheduled Vesting for Outstanding Restricted Stock Units (Details) - Restricted Stock Units - shares shares in Millions |
Mar. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Nine Months Ended December 31, 2018 | 6.0 | |
| Year Ended December 31, 2019 | 7.2 | |
| Year Ended December 31, 2020 | 3.7 | |
| Year Ended December 31, 2021 | 1.8 | |
| Year Ended December 31, 2022 | 0.2 | |
| Thereafter | 0.2 | |
| Total | 19.1 | 20.1 |
Income Taxes (Details) € in Millions, $ in Millions |
3 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|
|
Oct. 04, 2017
EUR (€)
|
Mar. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
Mar. 31, 2017
USD ($)
|
Mar. 31, 2018
USD ($)
|
Mar. 31, 2017
USD ($)
|
|
| Income Tax Disclosure [Abstract] | ||||||
| Provision for income taxes | $ 287 | $ 229 | ||||
| Discrete tax benefits | 368 | 122 | ||||
| Cash taxes paid, net of refunds | 513 | $ 246 | $ 1,224 | $ 520 | ||
| Tax contingencies | 2,600 | $ 2,300 | $ 2,600 | |||
| Income Tax Examination [Line Items] | ||||||
| Provisional tax benefit for impact of the Act | $ 789 | |||||
| Internal Revenue Service (IRS) | Domestic Tax Authority [Member] | ||||||
| Income Tax Examination [Line Items] | ||||||
| Tax examination, estimate of additional tax expense | $ 1,500 | |||||
| Luxembourg Tax Administration [Member] | Foreign Tax Authority [Member] | ||||||
| Income Tax Examination [Line Items] | ||||||
| Tax examination, estimate of additional tax expense | € | € 250 | |||||
Segment Information Disaggregation of Revenue - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2018 |
Mar. 31, 2017 |
|
| Disaggregation of Revenue [Line Items] | ||
| Net sales | $ 51,042 | $ 35,714 |
| Online stores (1) | ||
| Disaggregation of Revenue [Line Items] | ||
| Net sales | 26,939 | 22,826 |
| Physical stores (2) | ||
| Disaggregation of Revenue [Line Items] | ||
| Net sales | 4,263 | 0 |
| Third-party seller services (3) | ||
| Disaggregation of Revenue [Line Items] | ||
| Net sales | 9,265 | 6,438 |
| Subscription services (4) | ||
| Disaggregation of Revenue [Line Items] | ||
| Net sales | 3,102 | 1,939 |
| AWS | ||
| Disaggregation of Revenue [Line Items] | ||
| Net sales | 5,442 | 3,661 |
| Other (5) | ||
| Disaggregation of Revenue [Line Items] | ||
| Net sales | $ 2,031 | $ 850 |