AMAZON COM INC, 10-K filed on 2/6/2026
Annual Report
v3.25.4
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2025
Jan. 28, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
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     $ 2,118,061,430,046
Entity Common Stock, Shares Outstanding   10,734,920,870  
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 2026, 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 2025    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001018724    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Firm ID 42
Auditor Location Seattle, Washington
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Cash Flows [Abstract]      
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD $ 82,312 $ 73,890 $ 54,253
OPERATING ACTIVITIES:      
Net income 77,670 59,248 30,425
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 65,756 52,795 48,663
Stock-based compensation 19,467 22,011 24,023
Non-operating expense (income), net (14,880) 2,012 (748)
Deferred income taxes 11,470 (4,648) (5,876)
Changes in operating assets and liabilities:      
Inventories (3,002) (1,884) 1,449
Accounts receivable, net and other (7,333) (3,249) (8,348)
Other assets (15,632) (14,483) (12,265)
Accounts payable 11,231 2,972 5,473
Accrued expenses and other (5,019) (2,904) (2,428)
Unearned revenue (214) 4,007 4,578
Net cash provided by (used in) operating activities 139,514 115,877 84,946
INVESTING ACTIVITIES:      
Purchases of property and equipment (131,819) (82,999) (52,729)
Proceeds from property and equipment sales and incentives 3,499 5,341 4,596
Acquisitions, net of cash acquired, non-marketable investments, and other, net (3,841) (7,082) (5,839)
Sales and maturities of marketable securities 44,386 16,403 5,627
Purchases of marketable securities (54,770) (26,005) (1,488)
Net cash provided by (used in) investing activities (142,545) (94,342) (49,833)
FINANCING ACTIVITIES:      
Proceeds from short-term debt, and other 9,320 5,142 18,129
Repayments of short-term debt, and other (8,426) (5,060) (25,677)
Proceeds from long-term debt 15,673 0 0
Repayments of long-term debt (5,021) (9,182) (3,676)
Principal repayments of finance leases (1,557) (2,043) (4,384)
Principal repayments of financing obligations (328) (669) (271)
Net cash provided by (used in) financing activities 9,661 (11,812) (15,879)
Foreign currency effect on cash, cash equivalents, and restricted cash 1,164 (1,301) 403
Net increase (decrease) in cash, cash equivalents, and restricted cash 7,794 8,422 19,637
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD $ 90,106 $ 82,312 $ 73,890
v3.25.4
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Total net sales $ 716,924 $ 637,959 $ 574,785
Operating expenses:      
Cost of sales 356,414 326,288 304,739
Fulfillment 109,074 98,505 90,619
Technology and infrastructure 108,521 88,544 85,622
Sales and marketing 47,129 43,907 44,370
General and administrative 11,172 11,359 11,816
Other operating expense (income), net 4,639 763 767
Total operating expenses 636,949 569,366 537,933
Operating income 79,975 68,593 36,852
Interest income 4,381 4,677 2,949
Interest expense (2,274) (2,406) (3,182)
Other income (expense), net 15,229 (2,250) 938
Total non-operating income 17,336 21 705
Income before income taxes 97,311 68,614 37,557
Provision for income taxes (19,087) (9,265) (7,120)
Equity-method investment activity, net of tax (554) (101) (12)
Net income $ 77,670 $ 59,248 $ 30,425
Basic earnings per share (in dollars per share) $ 7.29 $ 5.66 $ 2.95
Diluted earnings per share (in dollars per share) $ 7.17 $ 5.53 $ 2.90
Weighted-average shares used in computation of earnings per share:      
Basic (in shares) 10,656 10,473 10,304
Diluted (in shares) 10,827 10,721 10,492
Net product sales      
Total net sales $ 296,266 $ 272,311 $ 255,887
Net service sales      
Total net sales $ 420,658 $ 365,648 $ 318,898
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 77,670 $ 59,248 $ 30,425
Other comprehensive income (loss):      
Foreign currency translation adjustments, net of tax of $(55), $226, and $(194) 4,226 (3,333) 1,027
Available-for-sale debt securities:      
Change in net unrealized gains (losses), net of tax of $(110), $(2,086), and $(8,754) 28,304 6,339 366
Less: reclassification adjustment for net losses (gains) included in “Other income (expense), net,” net of tax of $(15), $(2), and $1,327 (4,273) 5 50
Net change 24,031 6,344 416
Other, net of tax of $(1), $1, and $(1) 7 (5) 4
Other comprehensive income (loss) 28,264 3,006 1,447
Comprehensive income $ 105,934 $ 62,254 $ 31,872
v3.25.4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Foreign currency translation adjustments, tax $ (194) $ 226 $ (55)
Unrealized gains (losses), tax (8,754) (2,086) (110)
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” tax 1,327 (2) (15)
Other, tax $ (1) $ 1 $ (1)
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 86,810 $ 78,779
Marketable securities 36,219 22,423
Inventories 38,325 34,214
Accounts receivable, net and other 67,729 55,451
Total current assets 229,083 190,867
Property and equipment, net 357,025 252,665
Operating leases 86,054 76,141
Goodwill 23,273 23,074
Other assets 122,607 82,147
Total assets 818,042 624,894
Current liabilities:    
Accounts payable 121,909 94,363
Accrued expenses and other 75,520 66,965
Unearned revenue 20,576 18,103
Total current liabilities 218,005 179,431
Long-term lease liabilities 87,339 78,277
Long-term debt 65,648 52,623
Other long-term liabilities 35,985 28,593
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; 11,108 and 11,246 shares issued; 10,593 and 10,731 shares outstanding) 112 111
Treasury stock, at cost (7,837) (7,837)
Additional paid-in capital 140,024 120,864
Accumulated other comprehensive income (loss) 28,230 (34)
Retained earnings 250,536 172,866
Total stockholders’ equity 411,065 285,970
Total liabilities and stockholders’ equity $ 818,042 $ 624,894
v3.25.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in usd per share) $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 500,000,000 500,000,000
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 100,000,000,000 100,000,000,000
Common stock, issued (in shares) 11,246,000,000 11,108,000,000
Common stock, outstanding (in shares) 10,731,000,000 10,593,000,000
v3.25.4
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, 2022   10,242        
Beginning 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 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        
Ending Balance at Dec. 31, 2023 201,875 $ 109 (7,837) 99,025 (3,040) 113,618
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 59,248         59,248
Other comprehensive income (loss) 3,006       3,006  
Stock-based compensation and issuance of employee benefit plan stock (in shares)   210        
Stock-based compensation and issuance of employee benefit plan stock $ 21,841 $ 2   21,839    
Ending Balance (in shares) at Dec. 31, 2024 10,593 10,593        
Ending Balance at Dec. 31, 2024 $ 285,970 $ 111 (7,837) 120,864 (34) 172,866
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 77,670         77,670
Other comprehensive income (loss) 28,264       28,264  
Stock-based compensation and issuance of employee benefit plan stock (in shares)   138        
Stock-based compensation and issuance of employee benefit plan stock $ 19,161 $ 1   19,160    
Ending Balance (in shares) at Dec. 31, 2025 10,731 10,731        
Ending Balance at Dec. 31, 2025 $ 411,065 $ 112 $ (7,837) $ 140,024 $ 28,230 $ 250,536
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures
 12 Months Ended
Dec. 31, 2025
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, artificial intelligence 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.”
Principles of Consolidation
The consolidated financial statements include the accounts of Amazon.com, Inc. and its consolidated entities (collectively, the “Company”), consisting of its wholly-owned subsidiaries and those entities in which we have a variable interest and of which we are the primary beneficiary, including certain entities in India and certain entities that support our healthcare services and production and distribution of video content. Intercompany balances and transactions between consolidated entities are eliminated.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, collectability of receivables, commitments and contingencies, impairment of property and equipment and operating leases, income taxes, inventory valuation, self-insurance liabilities, stock-based compensation forfeiture rates, the determination of when to capitalize certain costs relating to new products or service offerings, useful lives of equipment, valuation and impairment of investments, valuation of acquired intangibles and goodwill, valuation of derivative instruments, vendor funding, and viewing patterns of capitalized video content. Actual results could differ materially from these estimates. We review the useful lives of equipment on an ongoing basis.
Effective January 1, 2025 we changed our estimate of the useful lives of a subset of our servers and networking equipment from six years to five years. The shorter useful lives are due to the increased pace of technology development, particularly in the area of artificial intelligence and machine learning. The effect of this change in estimate for the year ended December 31, 2025, based on servers and networking equipment that were included in “Property and equipment, net” as of December 31, 2024 and those acquired during the year ended December 31, 2025, was an increase in depreciation and amortization expense of $1.4 billion and a reduction in net income of $1.0 billion, or $0.10 per basic share and $0.10 per diluted share, which primarily impacted our AWS segment.
During Q3 2025, we recorded $2.5 billion of expense related to the settlement of a lawsuit with the FTC. This charge was recorded in “Other operating expense (income), net” and impacted our North America segment.
During Q4 2025, we recorded $2.4 billion of expense related to settlements of a lawsuit and tax disputes, severance costs, and asset impairments. Of this total, $1.1 billion related to the resolution of tax disputes associated with our stores business in Italy, and the settlement of a lawsuit, recorded primarily in “Other operating expense (income), net” and “Fulfillment,” and primarily impacted our International segment.
For the year ended December 31, 2025, we recorded approximately $2.7 billion of estimated severance costs primarily related to planned role eliminations, of which $1.8 billion was recorded in Q3 2025 and $730 million was recorded in the fourth quarter. These charges increased our payroll and related expenses, were recorded primarily in “Technology and infrastructure,” “Fulfillment,” and “Sales and marketing,” and impacted all of our segments.
For the year ended December 31, 2025, we recorded approximately $1.3 billion of asset impairments, of which $610 million was recorded in the fourth quarter, primarily consisting of property and equipment and operating leases related to
physical stores. These fourth quarter charges were recorded in “Other operating expense (income), net” and primarily impacted our North America segment.
Supplemental Cash Flow Information
The following table shows supplemental cash flow information (in millions):
Year Ended December 31,
202320242025
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$2,608 $1,858 $1,458 
Cash paid for operating leases10,453 12,341 15,038 
Cash paid for interest on finance leases308 287 295 
Cash paid for interest on financing obligations196 219 196 
Cash paid for income taxes, net of refunds11,179 12,308 8,295 
Assets acquired under operating leases14,052 15,424 19,930 
Property and equipment acquired under finance leases, net of remeasurements and modifications642 854 2,911 
Increase (decrease) in property and equipment acquired but not yet paid(1,414)7,039 10,155 
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,
 202320242025
Shares used in computation of basic earnings per share10,304 10,473 10,656 
Total dilutive effect of outstanding stock awards188 248 171 
Shares used in computation of diluted earnings per share10,492 10,721 10,827 
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 healthcare services, certain licensing and distribution of video content, 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 $1.4 billion, $1.4 billion, and $1.6 billion as of December 31, 2023, 2024, and 2025. Additions to the allowance were $5.2 billion, $5.5 billion, and $5.8 billion and deductions from the allowance were $5.1 billion, $5.5 billion, and $5.8 billion in 2023, 2024, and 2025. Included in “Inventories” on our consolidated balance sheets are assets totaling $992 million, $998 million, and $1.2 billion as of December 31, 2023, 2024, and 2025, 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 $20.3 billion, $21.4 billion, and $23.5 billion in 2023, 2024, and 2025.
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. Additionally, we have stock-based compensation awards 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. During 2025, we also recorded the settlement of a lawsuit with the FTC and the resolution of tax disputes associated with our stores business in Italy.
Other Income (Expense), Net
Other income (expense), net, is as follows (in millions):
Year Ended December 31,
202320242025
Marketable equity securities valuation gains (losses), net$984 $(1,278)$1,439 
Equity warrant valuation gains (losses), net26 (192)553 
Reclassification adjustments for gains (losses) on available-for-sale debt securities, net(65)(7)5,600 
Upward adjustments relating to equity investments in private companies40 49 7,709 
Foreign currency gains (losses), net65 (408)19 
Other, net(112)(414)(91)
Total other income (expense), net$938 $(2,250)$15,229 
The marketable equity securities valuation gain (loss) of $984 million, $(1.3) billion, and $1.4 billion in 2023, 2024, and 2025 is primarily from our equity investment in Rivian. The reclassification adjustments for the gains on available-for-sale debt securities of $5.6 billion for the year ended December 31, 2025 is primarily from the portions of our convertible notes investments in Anthropic that were converted to nonvoting preferred stock during the year ended December 31, 2025. The upward adjustments relating to equity investments in private companies of $7.7 billion for the year ended December 31, 2025 reflect observable changes in prices, primarily from our nonvoting preferred stock in Anthropic.
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.
Derivative Instruments
We enter into energy contracts to secure electricity supply for our existing and future operations, some of which extend 20 years. We may make or receive net cash payments, rather than take delivery of electricity, when our consumption is less than committed quantities due to operational variability. Because we may make or receive net cash payments, these contracts are derivative instruments. These contracts are not traded on exchanges or transacted in secondary markets and are not used for trading or speculative purposes.
Derivative instruments are measured at fair value each reporting period. Fair value measurements are based on valuation methods using both common factors like electricity futures prices where there are more liquid trading volumes generally for remaining contractual periods up to four to five years, forward capacity auctions and risk-free interest rates, and a number of management assumptions for remaining contractual periods greater than four to five years where there is significantly less or no trading data such as long-dated forward commodity prices and implied volatility curves, and credit adjustments. The extent of management judgment is significant (Level 3).
Fair value measurements will not impact cash flows but may be material to our statements of operations and balance sheet due to the duration of these contracts and volatility inherent in valuation methods. Generally, we can terminate our contracts by paying cash in the form of fixed penalties, such as reimbursing the counterparty for the costs of new construction incurred. Termination penalties are generally not based on fair value measurements.
As of December 31, 2025, the energy contract quantities subject to derivative accounting fair value measurements were approximately 200 million megawatt-hours and the weighted-average remaining duration of these contracts is approximately 16 years, with the majority of these megawatt-hours to be delivered beyond the next nine years. The impact of these fair value measurements on our consolidated statement of operations for the year ended December 31, 2025 was not significant.
Changes in fair value measurements will create unrealized gains and losses recorded within operating expenses on our statements of operations with corresponding assets (unrealized gains) and liabilities (unrealized losses) recorded on our balance sheet.
Certain of our energy contracts are subject to regulatory approval and are exempt from derivative guidance until the approval is obtained. If possible, we may elect the normal purchases and normal sales (NPNS) scope exemption from derivative guidance for energy contracts where we expect to consume substantially all committed quantities. A contract that no longer meets the NPNS exemption must be measured at fair value with immediate recognition in our financial statements.
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 $3.0 billion and $3.3 billion as of December 31, 2024 and 2025.
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.
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are receivables primarily related to customers, vendors, and prepaid expenses and other current assets. As of December 31, 2024 and 2025, customer receivables, net, were $34.3 billion and $40.4 billion, vendor receivables, net, were $11.6 billion and $15.9 billion, and other receivables, net, were $3.4 billion and $4.5 billion. Prepaid expenses and other current assets, which include amounts related to non-income taxes and satellite network launch services deposits, were $6.3 billion and $6.9 billion as of December 31, 2024 and December 31, 2025. We currently expense satellite network launch services deposits upon launch to “Technology and infrastructure.”
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. 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 $1.7 billion, $2.0 billion, and $2.4 billion as of December 31, 2023, 2024, and 2025. Additions to the allowance were $1.9 billion, $1.9 billion, and $1.6 billion, and deductions to the allowance were $1.6 billion, $1.6 billion, and $1.2 billion in 2023, 2024, and 2025.
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. Heavy equipment consists primarily of assets that support the infrastructure of our fulfillment network and data centers. Other equipment consists primarily of fulfillment equipment. Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets and classified within the corresponding operating expense categories on our consolidated statements of operations. The estimated useful lives as of December 31, 2025, are as follows:
Property and equipmentEstimated useful life
Buildings
Lesser of forty years or the remaining life of the underlying building
Servers and networking equipment
Five to six years (1)
Heavy equipment
Ten to thirteen years (2)
Other equipment
Three to ten years
___________________
(1)Effective January 1, 2024, we changed our estimate of the useful lives for our servers from five to six years, and effective January 1, 2025, we changed our estimate of the useful lives of a subset of our servers and networking equipment from six to five years.
(2)Ten years prior to January 1, 2025.
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, 2025, 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 convertible notes and certain equity investments; video and music content, net of accumulated amortization; long-term deferred tax assets; acquired intangible assets, net of accumulated amortization; satellite network launch services deposits; and affordable housing loans. We will reclassify the satellite network launch service deposits to construction-in-progress included within “Property and equipment, net” on our consolidated balance sheet once the service achieves commercial viability, including sales to customers. We recognize certain transactions with governments when it is probable 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 3.2 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, 2024 and 2025 were $19.6 billion and $21.3 billion. Total video and music expense was $20.4 billion and $22.4 billion for the year ended December 31, 2024 and 2025. 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.
Cash Equivalents and Marketable Securities
We generally invest our excess cash in investment grade short- to intermediate-term marketable debt securities and AAA-rated money market funds. 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.
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.
Non-Marketable Investments
Notes that are convertible to equity classified as available-for-sale are reported at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss),” a separate component of stockholders’ equity. Credit losses, if any, are recorded as an allowance through “Other income (expense), net” on our consolidated statements of operations. Upon conversion, the amount of the notes reported at fair value are reclassified generally from available-for-sale to equity investments accounted for at cost, with any associated unrealized gain or loss reclassified from “Accumulated other comprehensive income (loss)” to “Other income (expense), net” on our consolidated statements of operations.
From Q3 2023 to Q4 2024, we invested $5.3 billion in convertible notes from Anthropic, which are classified as available-for-sale and as Level 3 assets, and as of December 31, 2024 had an estimated fair value of approximately $13.8 billion. In making these estimates, we utilized valuation methods based on information available, including the rights and obligations of the convertible notes, other outstanding classes of securities, observable transactions such as new securities offerings, estimates of expected time to and type of liquidity events and anticipated securities offerings, and discounts for lack of marketability. Some of these notes converted to nonvoting preferred stock in Q1 2025. As a result of conversions, a significant portion of the unrealized gain associated with the notes as of December 31, 2024 was reclassified and a gain of approximately $3.3 billion was recorded in “Other income (expense), net” in our consolidated statement of operations. The investment in nonvoting preferred stock was initially recorded at its estimated fair value at the time of the conversion and is accounted for as a component of our equity investments in private companies not accounted for under the equity-method, with future adjustments for observable changes in prices or impairments representing Level 3 fair value measurements recognized in “Other income (expense), net” on our consolidated statements of operations. In Q2 2025, we invested $1.3 billion in a new convertible note from Anthropic. In Q3 2025, an additional portion of our notes was converted to nonvoting preferred stock, and as a result of the conversion a portion of the unrealized gain associated with the notes was reclassified and a gain of approximately $2.3 billion was recorded in “Other income (expense), net.” We also recorded an upward adjustment of $7.2 billion to our nonvoting preferred stock in “Other income (expense), net” to reflect observable changes in price. In Q4 2025, we invested $1.4 billion in a new convertible note from Anthropic. As of December 31, 2025, the amount recorded on our consolidated balance sheet for nonvoting preferred stock was approximately $14.8 billion. As of December 31, 2025, the estimated fair value of our convertible notes recorded on our consolidated balance sheet was approximately $45.8 billion, and the associated pre-tax unrealized gain included in “Accumulated other comprehensive income (loss)” was $39.5 billion. We also have a commercial arrangement primarily for the provision of AWS cloud services, which includes the use of AWS chips.
Subsequent to December 31, 2025, an additional portion of our notes was converted to nonvoting preferred stock. As a result of this conversion, in our Q1 2026 financial statements, we will reclassify a portion of the unrealized gain associated with the notes as of December 31, 2025 and record a gain of approximately $3 billion in “Other income (expense), net.” In our Q1
2026 financial statements, we will also record an upward adjustment of approximately $12 billion to our nonvoting preferred stock as of December 31, 2025 in “Other income (expense), net” to reflect observable changes in price.
Equity investments in private companies not accounted for under the equity-method, which primarily relate to nonvoting preferred stock in Anthropic, are accounted for at cost, with adjustments for observable changes in prices or impairments representing Level 3 fair value measurements recognized in “Other income (expense), net” on our consolidated statements of operations. 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, 2024 and 2025, these investments had a carrying value of $989 million and $16.2 billion.
Equity investments where we can exercise significant influence, but not control, over an investee are accounted for using the equity-method of accounting, or at fair value if we elect the fair value option. 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. As of December 31, 2024 and 2025, these investments had a carrying value of $1.2 billion and $659 million.
As of December 31, 2024 and 2025, equity warrants measured at fair value were $2.7 billion, with changes recognized in “Other income (expense), net” on our consolidated statements of operations. These warrants are classified as Level 2 and 3 assets.
These non-marketable investments are included within “Other assets” on our consolidated balance sheets.
Certain of our investments represent a variable interest in an entity for which we do not consolidate because we are not the primary beneficiary.
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, 2024 and 2025.
Accrued Expenses and Other
Included in “Accrued expenses and other” on our consolidated balance sheets are liabilities primarily related to tax-related liabilities, leases and asset retirement obligations, payroll and related expenses, self-insurance liabilities, unredeemed gift cards, other operating expenses, customer liabilities, marketing liabilities, current debt, and acquired digital media content.
As of December 31, 2024 and 2025, our liabilities for payroll related expenses were $7.5 billion and $10.5 billion and our liabilities for unredeemed gift cards were $5.4 billion and $5.6 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 healthcare 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. As of December 31, 2024 and 2025, our total self-insurance liabilities, which primarily relate to automobile liability, were $8.5 billion and $10.4 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, 2024 was $24.6 billion, of which $17.4 billion was recognized as revenue during the year ended December 31, 2025 and our total unearned revenue as of December 31, 2025 was $25.0 billion. Included in “Other long-term liabilities” on our consolidated balance sheets was $6.5 billion and $4.4 billion of unearned revenue as of December 31, 2024 and 2025.
Additionally, we have performance obligations, primarily related to AWS, associated with commitments in customer contracts for future services that we expect to fulfill but have not yet been recognized in our financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were approximately $244 billion as of December 31, 2025. The weighted average remaining life of our long-term contracts is 4.1 years. The amount and timing of revenue recognition will be driven by customer usage and our performance in accordance with contractual obligations, which can extend beyond the original contractual duration and commitment.
Other Long-Term Liabilities
Included in “Other long-term liabilities” on our consolidated balance sheets are liabilities primarily related to deferred tax liabilities, financing obligations, asset retirement obligations, unearned revenue, tax contingencies, and digital video and music content.
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 $(329) million, $413 million, and $(863) million in 2023, 2024, and 2025.
Accounting Pronouncements Recently Adopted
In December 2023, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. We adopted this ASU for the year ended December 31, 2025 on a retroactive basis. See “Note 9 — Income Taxes.”
Accounting Pronouncements Not Yet Adopted
In November 2024, the FASB issued an ASU amending existing income statement disclosure guidance, primarily requiring more detailed disclosure for expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The amendments can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our disclosures.
v3.25.4
Financial Instruments
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
Cash, Cash Equivalents, Restricted Cash, and Marketable Securities
As of December 31, 2024 and 2025, our cash, cash equivalents, restricted cash, and marketable securities primarily consisted of cash, AAA-rated money market funds, U.S. 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 investment 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, 2024
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash and time deposits$17,055 $— $— $17,055 
Level 1:
Money market funds28,282 — — 28,282 
Equity securities (1)3,318 
Level 2:
U.S. government and agency securities3,452 1 (52)3,401 
Corporate debt securities50,959 3 (50)50,912 
Asset-backed securities1,539 2 (18)1,523 
Other financial instruments245 — (1)244 
$101,532 $6 $(121)$104,735 
Less: Restricted cash, cash equivalents, and marketable securities (2)(3,533)
Total cash, cash equivalents, and marketable securities$101,202 
 December 31, 2025
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash and time deposits$16,145 $— $— $16,145 
Level 1:
Money market funds29,777 — — 29,777 
Equity securities (1)3,687 
Level 2:
U.S. government and agency securities5,231 8 (17)5,222 
Corporate debt securities69,542 50 (7)69,585 
Asset-backed securities1,781 8 (9)1,780 
Other financial instruments129 — — 129 
$122,605 $66 $(33)$126,325 
Less: Restricted cash, cash equivalents, and marketable securities (2)(3,296)
Total cash, cash equivalents, and marketable securities$123,029 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $1.0 billion, $(1.3) billion, and $1.2 billion for the years ended December 31, 2023, 2024, and 2025.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable debt securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, standby and trade letters of credit, and licenses of digital media content. We classify cash, cash equivalents, and marketable debt securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 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,
202320242025
Realized gains$2 $3 $18 
Realized losses67 10 7 
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of December 31, 2025 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$96,776 $96,778 
Due after one year through five years8,217 8,264 
Due after five years through ten years501 501 
Due after ten years966 950 
Total$106,460 $106,493 
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, 2024December 31, 2025
Cash and cash equivalents$78,779 $86,810 
Restricted cash included in accounts receivable, net and other247 300 
Restricted cash included in other assets3,286 2,996 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$82,312 $90,106 
v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment PROPERTY AND EQUIPMENT
Property and equipment, at cost, consisted of the following (in millions): 
 December 31,
 20242025
Gross property and equipment (1):
Land and buildings$123,039 $155,121 
Servers and networking equipment113,156 172,492 
Heavy equipment52,228 65,545 
Other equipment53,509 63,376 
Other assets5,487 5,819 
Construction in progress46,636 71,745 
Gross property and equipment394,055 534,098 
Total accumulated depreciation and amortization (1)141,390 177,073 
Total property and equipment, net$252,665 $357,025 
__________________
(1)Includes the original cost and accumulated depreciation of fully-depreciated assets.
Property and equipment acquired but not yet paid are included within “Accounts payable” and were $16.8 billion and $27.0 billion as of December 31, 2024 and 2025.
Depreciation and amortization expense on property and equipment was $30.2 billion, $32.1 billion, and $41.9 billion which includes amortization of property and equipment acquired under finance leases of $5.9 billion, $3.9 billion, and $3.3 billion for 2023, 2024, and 2025.
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
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 $56.5 billion and $55.6 billion as of December 31, 2024 and 2025. Accumulated amortization associated with finance leases was $41.8 billion and $40.4 billion as of December 31, 2024 and 2025.
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
 Year Ended December 31,
202320242025
Operating lease cost$10,550 $11,961 $14,006 
Finance lease cost:
Amortization of lease assets5,899 3,866 3,284 
Interest on lease liabilities304 285 312 
Finance lease cost6,203 4,151 3,596 
Variable lease cost2,165 2,465 2,694 
Total lease cost$18,918 $18,577 $20,296 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2024December 31, 2025
 
Weighted-average remaining lease term – operating leases10.6 years10.0 years
Weighted-average remaining lease term – finance leases11.9 years12.6 years
Weighted-average discount rate – operating leases3.5 %3.7 %
Weighted-average discount rate – finance leases3.0 %3.4 %
Our lease liabilities were as follows (in millions):
December 31, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,294 $12,520 $107,814 
Less: imputed interest(15,698)(1,918)(17,616)
Present value of lease liabilities79,596 10,602 90,198 
Less: current portion of lease liabilities(10,546)(1,375)(11,921)
Total long-term lease liabilities$69,050 $9,227 $78,277 
December 31, 2025
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$106,914 $14,917 $121,831 
Less: imputed interest(17,662)(2,631)(20,293)
Present value of lease liabilities89,252 12,286 101,538 
Less: current portion of lease liabilities(12,655)(1,544)(14,199)
Total long-term lease liabilities$76,597 $10,742 $87,339 
Leases LEASES
We have entered into non-cancellable operating and finance leases for fulfillment network, data center, office, and physical store facilities as well as server and networking equipment, aircraft, and vehicles. Gross assets acquired under finance leases, including those where title transfers at the end of the lease, are recorded in “Property and equipment, net” and were $56.5 billion and $55.6 billion as of December 31, 2024 and 2025. Accumulated amortization associated with finance leases was $41.8 billion and $40.4 billion as of December 31, 2024 and 2025.
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
 Year Ended December 31,
202320242025
Operating lease cost$10,550 $11,961 $14,006 
Finance lease cost:
Amortization of lease assets5,899 3,866 3,284 
Interest on lease liabilities304 285 312 
Finance lease cost6,203 4,151 3,596 
Variable lease cost2,165 2,465 2,694 
Total lease cost$18,918 $18,577 $20,296 
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2024December 31, 2025
 
Weighted-average remaining lease term – operating leases10.6 years10.0 years
Weighted-average remaining lease term – finance leases11.9 years12.6 years
Weighted-average discount rate – operating leases3.5 %3.7 %
Weighted-average discount rate – finance leases3.0 %3.4 %
Our lease liabilities were as follows (in millions):
December 31, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,294 $12,520 $107,814 
Less: imputed interest(15,698)(1,918)(17,616)
Present value of lease liabilities79,596 10,602 90,198 
Less: current portion of lease liabilities(10,546)(1,375)(11,921)
Total long-term lease liabilities$69,050 $9,227 $78,277 
December 31, 2025
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$106,914 $14,917 $121,831 
Less: imputed interest(17,662)(2,631)(20,293)
Present value of lease liabilities89,252 12,286 101,538 
Less: current portion of lease liabilities(12,655)(1,544)(14,199)
Total long-term lease liabilities$76,597 $10,742 $87,339 
v3.25.4
Acquisitions, Goodwill, and Acquired Intangible Assets
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions, Goodwill, and Acquired Intangible Assets ACQUISITIONS, GOODWILL, AND ACQUIRED INTANGIBLE ASSETS
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 healthcare 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 completed acquisition activity for immaterial aggregate cash consideration, net of cash acquired.
2024 Acquisition Activity
During 2024, we completed acquisition activity for aggregate cash consideration of $780 million, net of cash acquired.
2025 Acquisition Activity
During 2025, we completed acquisition activity for immaterial aggregate cash consideration, net of cash acquired.
The primary reasons for these transactions were to acquire technologies and know-how to enable Amazon to serve customers more effectively or to expand our customer base.
Pro forma results of operations have not been presented because the effects of the 2025 transactions, individually and in the aggregate, were not material to our consolidated results of operations. Transaction-related costs were expensed as incurred and were not significant.
Goodwill
The goodwill resulting from the acquisition activity 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 resulting from the acquisition activity is generally not deductible for tax purposes. The following summarizes our goodwill activity in 2024 and 2025 by segment (in millions):
North
America		InternationalAWSConsolidated
Goodwill - January 1, 2024$19,126 $2,412 $1,251 $22,789 
Acquisition activity191 77 52 320 
Other adjustments (1)(28)(4)(3)(35)
Goodwill - December 31, 202419,289 2,485 1,300 23,074 
Acquisition activity25 85 2 112 
Other adjustments (1)49 8 30 87 
Goodwill - December 31, 2025$19,363 $2,578 $1,332 $23,273 
 ___________________
(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,
 20242025
  
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$2,629 $(860)$1,769 $2,402 $(754)$1,648 16.5
Contract-based5,767 (1,541)4,226 7,068 (1,957)5,111 16.6
Technology- and content-based1,246 (284)962 1,463 (605)858 3.1
Customer-related764 (282)482 654 (237)417 5.2
Total finite-lived intangible assets$10,406 $(2,967)$7,439 $11,587 $(3,553)$8,034 14.5
IPR&D and other (3)$1,163  $1,163 $1,163  $1,163 
Total acquired intangibles $11,569 $(2,967)$8,602 $12,750 $(3,553)$9,197 
 ___________________
(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 forty 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 (“IPR&D”) are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we reclassify the cost of the IPR&D assets to finite-lived intangible assets, determine the useful life, and begin amortization.
Amortization expense for acquired finite-lived intangibles was $706 million, $838 million, and $817 million in 2023, 2024, and 2025. Expected future amortization expense of acquired finite-lived intangible assets as of December 31, 2025, is as follows (in millions):
 
Year Ended December 31,
2026$1,085 
2027962 
2028764 
2029690 
2030593 
Thereafter3,940 
$8,034 
v3.25.4
Debt
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt DEBT
As of December 31, 2025, we had $68.0 billion of unsecured senior notes outstanding (the “Notes”), including $15.0 billion issued in November 2025 for general corporate purposes. Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2024December 31, 2025
2014 Notes issuance of $6.0 billion
2034 - 2044
4.80% - 4.95%
4.93% - 5.12%
$2,750 $2,750 
2017 Notes issuance of $17.0 billion
2027 - 2057
3.15% - 4.25%
3.25% - 4.33%
13,000 12,000 
2020 Notes issuance of $10.0 billion
2027 - 2060
1.20% - 2.70%
1.26% - 2.77%
9,000 7,750 
2021 Notes issuance of $18.5 billion
2026 - 2061
1.00% - 3.25%
1.14% - 3.31%
15,000 15,000 
April 2022 Notes issuance of $12.8 billion
2027 - 2062
3.30% - 4.10%
3.40% - 4.15%
11,250 9,750 
December 2022 Notes issuance of $8.3 billion
2027 - 2032
4.55% - 4.70%
4.61% - 4.74%
7,000 5,750 
2025 Notes issuance of $15.0 billion
2028 - 2065
3.90% - 5.55%
3.99% - 5.62%
— 15,000 
Other long-term debt— 836 
Total face value of long-term debt58,000 68,836 
Unamortized discount and issuance costs, net(360)(440)
Less: current portion of long-term debt(5,017)(2,748)
Long-term debt$52,623 $65,648 
___________________
(1)The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, December 2022, and 2025 Notes were 14.4, 15.4, 18.1, 13.2, 13.8, 4.4, and 15.6 years as of December 31, 2025. The combined weighted-average remaining life of the Notes was 14.1 years as of December 31, 2025.
Interest on the Notes is payable semi-annually in arrears. We may redeem the Notes at any time in whole, or from time to time, in part at specified redemption prices. We are not subject to any financial covenants under the Notes. The estimated fair value of the Notes was approximately $50.2 billion and $61.1 billion as of December 31, 2024 and 2025, which is based on quoted prices for our debt as of those dates.
As of September 30, 2024, we had repaid outstanding borrowings and terminated the secured revolving credit facility with a lender that was secured by certain seller receivables (the “Credit Facility”). The Credit Facility bore interest based on the daily Secured Overnight Financing Rate plus 1.25%, and had a commitment fee of up to 0.45% on the undrawn portion. There were $682 million of borrowings outstanding under the Credit Facility as of December 31, 2023, which had an interest rate of 6.6%.
As of December 31, 2025, future principal payments for our total long-term debt were as follows (in millions):
Year Ended December 31,
2026$2,752 
20278,832 
20284,752 
20293,000 
20304,500 
Thereafter45,000 
$68,836 
In January 2023, we entered into an $8.0 billion unsecured 364-day term loan with a syndicate of lenders (the “Term Loan”), maturing in January 2024 and bearing interest at the Secured Overnight Financing Rate specified in the Term Loan plus 0.75%. The Term Loan was classified as short-term debt and included within “Accrued expenses and other” on our consolidated balance sheets. As of December 31, 2023, the entire amount of the Term Loan had been repaid.
We have U.S. Dollar and Euro commercial paper programs (the “Commercial Paper Programs”) under which we may from time to time issue unsecured commercial paper up to a total of $30.0 billion (including up to €3.0 billion) at the date of issue, with individual maturities that may vary but will not exceed 397 days from the date of issue. In April 2025, we increased the size of the Commercial Paper Programs from $20.0 billion to $30.0 billion. There were no borrowings outstanding under the
Commercial Paper Programs as of December 31, 2024 and 2025. We use the net proceeds from the issuance of commercial paper for general corporate purposes.
We have a $15.0 billion unsecured revolving credit facility with a syndicate of lenders (the “Credit Agreement”), with a term that extends to November 2028 and may be extended for one or more additional one-year terms subject to approval by the lenders. The interest rate applicable to outstanding balances under the Credit Agreement is the applicable benchmark rate specified in the Credit Agreement plus 0.45%, with a commitment fee of 0.03% on the undrawn portion of the credit facility. There were no borrowings outstanding under the Credit Agreement as of December 31, 2024 and 2025.
In October 2025, we 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 October 2024. The Short-Term Credit Agreement matures in October 2026 and may be extended for one additional period of 364 days subject to approval 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, 2024 and 2025.
We also utilize other short-term credit facilities for working capital purposes. There were $151 million and $455 million of borrowings outstanding under these facilities as of December 31, 2024 and 2025, which were included in “Accrued expenses and other” on our consolidated balance sheets. In addition, we had $9.5 billion of unused letters of credit as of December 31, 2025.
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Commitments
The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of December 31, 2025 (in millions):
 Year Ended December 31,  
 20262027202820292030ThereafterTotal
Long-term debt principal and interest$5,201 $11,250 $6,891 $4,993 $6,381 $73,486 $108,202 
Operating lease liabilities15,380 13,186 12,140 10,911 9,710 45,587 106,914 
Finance lease liabilities, including interest1,838 1,626 1,726 1,285 1,122 7,320 14,917 
Financing obligations, including interest (1)577 582 592 601 612 6,651 9,615 
Leases not yet commenced5,808 9,103 6,420 6,571 6,738 61,733 96,373 
Unconditional purchase obligations (2)19,906 8,934 7,195 6,658 6,602 35,477 84,772 
Other commitments (3)2,956 1,578 1,120 1,000 988 11,226 18,868 
Total commitments$51,666 $46,259 $36,084 $32,019 $32,153 $241,480 $439,661 
___________________
(1)Includes non-cancellable financing obligations for fulfillment network and data center facilities. Excluding interest, current financing obligations of $312 million and $358 million are recorded within “Accrued expenses and other” and $7.1 billion and $7.8 billion are recorded within “Other long-term liabilities” as of December 31, 2024 and 2025. The weighted-average remaining term of the financing obligations was 16.1 years and 15.0 years and the weighted-average imputed interest rate was 3.1% and 2.9% as of December 31, 2024 and 2025.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content, procure energy, acquire property and equipment, and license software that are not reflected on the consolidated balance sheets. For those agreements with variable terms or subject to certain regulatory approvals, we do not estimate the total obligation beyond any minimum quantities and/or pricing, or termination penalties, as of the reporting date. Purchase obligations associated with renewal provisions solely at the option of the content provider are included to the extent such commitments are fixed or a minimum amount is specified. Energy agreements based on actual generation without a fixed or minimum volume commitment are not included. Certain of our energy agreements also provide the right to receive energy certificates.
(3)Includes asset retirement obligations, the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction, and liabilities associated with digital media content agreements with initial terms greater than one year. Excludes approximately $6.6 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 2025, 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 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 alleged, among other things, that “Alexa Voice Software and Alexa enabled devices” infringe U.S. Patent No. 7,177,798. The complaint sought 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. In March 2024, the district court granted summary judgment ruling that the patent is invalid and dismissed the case. In April 2024, the plaintiffs filed a notice of appeal. We dispute the allegations of wrongdoing and will continue 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 alleged, among other things, that Amazon S3 and DynamoDB infringe U.S. Patent Nos. 7,814,170; 7,103,640; and 7,233,978. The complaint sought an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, interest, and injunctive relief. In April 2024, a jury found that Amazon infringed the asserted patents and awarded Kove $525 million in damages. In August 2024, the court awarded Kove $148 million in pre-judgment interest. In September 2024, we filed a notice of appeal. We disagree with the jury’s findings and will continue 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, Amazon Connect, Amazon’s virtual try-on technology, and Amazon’s Just Walk Out 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.
Since March 2020, private litigants, state Attorneys General, and the Federal Trade Commission have filed cases in the U.S., Canada, and the United Kingdom alleging, among other things: price fixing arrangements between each of Amazon and its vendors and Amazon and its third-party sellers; abuse of dominance, monopolization, and attempted monopolization; and consumer protection and unjust enrichment claims, in violation of federal and state antitrust, state consumer protection, and Canadian and U.K. antitrust laws. The first of these complaints was Frame-Wilson v. Amazon.com, Inc., which was filed in the United States District Court for the Western District of Washington (“W.D. Wash.”). These complaints seek billions of dollars of alleged damages, treble damages, punitive damages, injunctive relief, structural relief, civil penalties, attorneys’ fees, and costs. Some of the private plaintiff cases include allegations of distinct purported classes, including consumers who purchased a product through Amazon’s stores and consumers who purchased a product offered by Amazon through another e-commerce retailer. Some of the cases include allegations that Amazon has a monopoly in markets for online superstores, marketplace services, or intermediation services and that we unlawfully engage in anticompetitive practices relating to our pricing policies, selection of the Featured Offers, use of seller data, advertising practices, the structure of Prime, and promotion of our own products on our website. In the U.S., most of Amazon’s motions to dismiss were granted in part, but in each case, at least some of the claims survived. In Canada, class certification was denied in a case before the Federal Court of Canada, finding that plaintiffs had not stated a viable claim, and plaintiffs’ appeal of that ruling is pending. Two Canadian class actions before other
courts are pre-certification. In the United Kingdom, two class actions have been certified and a third is pre-certification. In the U.S., one class action has been certified, and three others are pre-certification. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
In 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. In March 2025, the Luxembourg Administrative Court dismissed our appeal of the CNPD’s decision. In April 2025, we appealed the court’s decision to the Luxembourg Administrative Court of Appeal. We believe the CNPD’s decision to be without merit and will continue 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. In September 2025, the Italian Administrative Tribunal (the “TAR”) affirmed the ICA’s decision but reduced the fine to €752 million. In December 2025, we appealed the TAR’s ruling. We disagree with the TAR’s decision and will continue to defend ourselves vigorously in this matter.
In June 2025, Xockets, Inc. filed two complaints against Amazon.com, Inc. and Amazon Web Services, Inc. in the United States District Court for the Western District of Texas. The complaints allege, among other things, that certain versions of the AWS Nitro System infringe U.S. Patent Nos. 11,080,209; 10,649,924; 11,082,350; 10,223,297; 9,378,161; 9,436,640; and 10,212,092. The complaints seek 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 these matters.
Beginning in November 2025, InterDigital, Inc. and related entities filed complaints alleging infringement of patents on video-related technologies against Amazon.com, Inc. and related entities in multiple courts in the United States, Germany, and Brazil, the Unified Patent Court of the European Union, and the United States International Trade Commission. The complaints were filed after Amazon’s August 2025 rate-setting complaint on video-related technologies was filed against InterDigital and related entities in the United Kingdom. InterDigital’s complaints allege, among other things, that certain Amazon Prime Video services and features of Amazon devices carrying the Prime Video app infringe InterDigital’s patents. The complaints seek, among other things, injunctive relief and, in some cases, unspecified money damages, enhanced damages, attorneys’ fees, costs, interest, and declaratory relief. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in these matters.
In December 2025, Primos Storage Technology LLC filed a complaint against Amazon.com, Inc. and Amazon Web Services, Inc. in the United States District Court for the District of Delaware. The complaint alleges, among other things, that Amazon S3, Amazon EMR, Amazon EC2 instances using Amazon EBS, and Amazon FSx for Lustre infringe U.S. Patent Nos. 7,386,663; 7,937,528; and 10,599,344, and that Amazon S3 and Amazon EMR infringe U.S. Patent Nos. 8,078,944 and 8,312,356. The complaint seeks injunctive relief, an ongoing royalty, an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, and interest. We dispute the allegations of wrongdoing and intend to defend ourselves vigorously in this matter.
In addition, we are regularly subject to claims, litigation, and other proceedings, including potential regulatory proceedings, involving patent and other intellectual property matters, taxes, labor and employment, competition and antitrust, privacy and data protection, consumer protection, commercial disputes, goods and services offered by us and by third parties, and other matters.
The outcomes of our legal proceedings and other contingencies are inherently unpredictable, subject to significant uncertainties, and could be material to our operating results and cash flows for a particular period. We evaluate, on a regular basis, developments in our legal proceedings and other contingencies that could affect the amount of liability, including amounts in excess of any previous accruals and reasonably possible losses disclosed, and make adjustments and changes to our accruals and disclosures as appropriate. For the matters we disclose that do not include an estimate of the amount of loss or range of losses, such an estimate is not possible or is immaterial, and we may be unable to estimate the possible loss or range of losses that could potentially result from the application of non-monetary remedies. Until the final resolution of such matters, if any of our estimates and assumptions change or prove to have been incorrect, we may experience losses in excess of the amounts recorded, which could have a material effect on our business, consolidated financial position, results of operations, or cash flows.
See also “Note 9 — Income Taxes.”
v3.25.4
Stockholders' Equity
 12 Months Ended
Dec. 31, 2025
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 10.8 billion, 10.9 billion, and 11.0 billion, as of December 31, 2023, 2024, and 2025. 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. There were no repurchases of our common stock in 2023, 2024, or 2025. As of December 31, 2025, we have $6.1 billion remaining under the repurchase program.
Stock Award Plans
Employees vest in restricted stock unit awards over the corresponding service term, generally between two and five years. The majority of outstanding restricted stock unit awards are granted at the date of hire or in Q2 as part of the annual compensation review and primarily vest quarterly in the relevant compensation year.
Stock Award Activity
Stock-based compensation expense is as follows (in millions):
Year Ended December 31,
202320242025
Cost of sales$836 $838 $777 
Fulfillment3,090 2,973 2,703 
Technology and infrastructure13,434 12,150 10,871 
Sales and marketing4,623 4,084 3,445 
General and administrative2,040 1,966 1,671 
Total stock-based compensation expense (1)$24,023 $22,011 $19,467 
___________________
(1)The related tax benefits were $5.4 billion, $5.0 billion, and $4.4 billion for 2023, 2024, and 2025.
The following table summarizes our restricted stock unit activity (in millions):
Number of UnitsWeighted Average
Grant-Date
Fair Value
Outstanding as of January 1, 2023384.4 $144 
Units granted218.1 106 
Units vested(139.9)143 
Units forfeited(56.8)135 
Outstanding as of December 31, 2023405.8 125 
Units granted126.9 183 
Units vested(209.7)132 
Units forfeited(39.9)133 
Outstanding as of December 31, 2024283.1 145 
Units granted112.9 200 
Units vested(138.1)135 
Units forfeited(35.4)157 
Outstanding as of December 31, 2025222.5 178 
Scheduled vesting for outstanding restricted stock units as of December 31, 2025, is as follows (in millions):
 Year Ended    
 20262027202820292030ThereafterTotal
Scheduled vesting — restricted stock units110.4 69.9 30.7 9.8 0.8 0.9 222.5 
As of December 31, 2025, there was $16.9 billion of net unrecognized compensation cost related to unvested stock-based compensation arrangements. This compensation is recognized on an accelerated basis with more than half of the compensation expected to be expensed in the next twelve months, and has a remaining weighted-average recognition period of 1.0 year.
During 2023, 2024, and 2025, the fair value of restricted stock units that vested was $17.6 billion, $39.6 billion, and $30.0 billion.
Common Stock Available for Future Issuance
As of December 31, 2025, common stock available for future issuance to employees is 1.4 billion shares.
Accumulated Other Comprehensive Income (Loss)
The following table summarizes the changes in “Accumulated other comprehensive income (loss)” by separate components (in millions):
December 31,
 20242025
Total beginning accumulated other comprehensive income (loss), net of tax of $99 and $(1,762)
$(3,040)$(34)
Foreign currency translation adjustments:
Beginning of year balance, net of tax of $66 and $292
(2,841)(6,174)
Foreign currency translation adjustments, net of tax of $226 and $(194)
(3,333)4,226
End of year balance, net of tax of $292 and $98
(6,174)(1,948)
Unrealized gains (losses) on available-for-sale debt securities:
Beginning of year balance, net of tax of $34 and $(2,054)
(205)6,139
Change in net unrealized gains (losses), net of tax of $(2,086) and $(8,754)
6,339 28,304
Reclassification adjustment for net losses (gains) included in “Other income (expense), net,” net of tax of $(2) and $1,327
5 (4,273)
End of year balance, net of tax of $(2,054) and $(9,481)
6,139 30,170
Other:
Beginning of year balance, net of tax of $(1) and $0
61
Other, net of tax of $1 and $(1)
(5)7
End of year balance, net of tax of $0 and $(1)
1 8
Total ending accumulated other comprehensive income (loss), net of tax of $(1,762) and $(9,384)
$(34)$28,230 
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
In 2023, 2024, and 2025, we recorded a net tax provision of $7.1 billion, $9.3 billion, and $19.1 billion. Our U.S. taxable income is reduced by accelerated depreciation deductions and the resulting U.S. tax liability is reduced by tax credits, primarily related to the U.S. federal research and development credit. Cash paid for income taxes, net of refunds, was $11.2 billion, $12.3 billion, and $8.3 billion for 2023, 2024, and 2025.
The 2025 Tax Act was signed into law on July 4, 2025. The 2025 Tax Act makes changes to the U.S. corporate income tax, including reinstating the option to claim 100% accelerated depreciation deductions on qualified property, with retroactive application beginning January 20, 2025, and immediate expensing of domestic research and development costs, with retroactive application beginning January 1, 2025. For 2025, the 2025 Tax Act increased our income tax provision, primarily due to a decrease in the foreign income deduction, and significantly decreased our cash taxes.
The components of cash paid for income taxes, net of refunds, are as follows (in millions):
 Year Ended December 31,
202320242025
U.S. Federal$7,435 $7,630 $2,751 
U.S. State2,070 2,450 2,125 
International1,674 2,228 3,419 
Total cash taxes paid, net of refunds$11,179 $12,308 $8,295 
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 components of the provision for income taxes, net are as follows (in millions):
 Year Ended December 31,
202320242025
U.S. Federal:
Current$8,652 $9,039 $1,220 
Deferred(5,505)(4,101)11,134 
Total3,147 4,938 12,354 
U.S. State:
Current2,158 2,109 2,067 
Deferred(498)(453)984 
Total1,660 1,656 3,051 
International:
Current2,186 2,765 4,330 
Deferred127 (94)(648)
Total2,313 2,671 3,682 
Provision for income taxes, net$7,120 $9,265 $19,087 
U.S. and international components of income before income taxes are as follows (in millions):
 Year Ended December 31,
 202320242025
U.S.$32,328 $61,947 $89,537 
International5,229 6,667 7,774 
Income before income taxes$37,557 $68,614 $97,311 
The items accounting for differences between income taxes computed at the federal statutory rate and the provision recorded for income taxes are as follows (in millions, except percentages):
 Year Ended December 31,
 202320242025
Income taxes computed at the federal statutory rate$7,887 21.0 %$14,409 21.0 %$20,435 21.0 %
Federal:
Tax credits:
Research and development tax credits(2,196)(5.8)(2,644)(3.9)(2,403)(2.5)
Foreign tax credits(558)(1.5)(440)(0.6)(642)(0.7)
Other credits(185)(0.5)(176)(0.3)(139)(0.1)
Effect of cross-border tax laws:
Foreign income deduction (1)(1,429)(3.8)(2,379)(3.5)(522)(0.5)
Other effects of cross-border tax laws(18)— (33)— (271)(0.3)
Nontaxable and nondeductible items:
Stock-based compensation (2)784 2.1 (2,236)(3.3)(2,029)(2.1)
Other nontaxable and nondeductible items 162 0.4 158 0.3 372 0.4 
Other186 0.5 33 — 486 0.5 
State and local income taxes, net of federal effect (3)1,292 3.4 1,321 1.9 2,455 2.5 
Foreign tax effects1,117 3.0 1,150 1.7 1,517 1.6 
Worldwide changes in prior period unrecognized tax benefits78 0.2 102 0.2 (172)(0.2)
Total$7,120 19.0 %$9,265 13.5 %$19,087 19.6 %
___________________
(1)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.
(2)Includes amounts related to non-taxable and non-deductible stock-based compensation, in addition to excess tax benefits or shortfalls from stock-based compensation. Our tax provision includes $519 million of tax shortfalls from stock-based compensation for 2023, and $2.8 billion and $2.6 billion of excess tax benefits from stock-based compensation for 2024 and 2025.
(3)The jurisdictions that contribute to the majority of the tax effect in this category are Illinois, Maryland, New Jersey, New York, Pennsylvania, and Virginia.
Our provision for income taxes in 2024 was higher than in 2023 primarily due to an increase in pretax income, partially offset by an increase in excess tax benefits from stock-based compensation and an increase in our foreign income deduction.
Our provision for income taxes in 2025 was higher than in 2024 primarily due to an increase in pretax income and a decrease in foreign income deduction resulting from the effects of the 2025 Tax Act.
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,
 20242025
Deferred tax assets (1):
Loss carryforwards U.S. - Federal/States$692 $632 
Loss carryforwards - Foreign2,687 2,936 
Accrued liabilities, reserves, and other expenses4,254 5,545 
Stock-based compensation4,089 4,295 
Depreciation and amortization1,133 1,503 
Operating lease liabilities20,921 23,596 
Capitalized research and development22,701 18,725 
Other items1,688 2,166 
Tax credits1,773 2,812 
Total gross deferred tax assets59,938 62,210 
Less valuation allowances (2)(4,893)(5,560)
Deferred tax assets, net of valuation allowances55,045 56,650 
Deferred tax liabilities:
Depreciation and amortization(16,240)(23,159)
Operating lease assets(19,517)(22,177)
Assets held for investment(2,133)(13,149)
Other items(1,190)(1,159)
Net deferred tax assets (liabilities), net of valuation allowances$15,965 $(2,994)
 ___________________
(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, 2025. Our foreign net operating loss carryforwards for income tax purposes as of December 31, 2025 were approximately $10.6 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 2026.
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,
 202320242025
Gross tax contingencies – January 1$4,002 $5,228 $6,485 
Gross increases to tax positions in prior periods440 154 310 
Gross decreases to tax positions in prior periods(38)(129)(1,180)
Gross increases to current period tax positions1,009 1,392 1,292 
Settlements with tax authorities(106)(9)(312)
Lapse of statute of limitations(79)(151)(29)
Gross tax contingencies – December 31 (1)$5,228 $6,485 $6,566 
 ___________________
(1)As of December 31, 2025, we had approximately $6.6 billion of income tax contingencies of which $5.0 billion, if fully recognized, would decrease our effective tax rate.
As of December 31, 2024 and 2025, we had accrued interest and penalties, net of federal income tax benefit, related to tax contingencies of $316 million and $400 million. Interest and penalties, net of federal income tax benefit, recognized for the years ended December 31, 2023, 2024, and 2025 were $91 million, $121 million, and $84 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 foreign jurisdictions including Germany, India, Japan, Luxembourg, and the United Kingdom. We are under, or may be subject to, audit or examination and additional assessments by the relevant authorities in respect of these particular jurisdictions primarily for 2011 and thereafter. We are currently disputing tax assessments in multiple jurisdictions, including with respect to the allocation and characterization of income.
In September 2022, the Luxembourg tax authority (“LTA”) denied the tax basis of certain intangible assets that we distributed from Luxembourg to the U.S. in 2021. When we are assessed by the LTA, we will need to remit taxes related to this matter. We believe the LTA’s position is without merit, we intend to defend ourselves vigorously in this matter, and we expect to recoup taxes paid.
The Indian tax authority (“ITA”) has asserted that tax applies to cloud services fees paid to Amazon in the U.S. We will need to remit taxes related to this matter until it is resolved, which payments could be significant in the aggregate. We believe the ITA’s position is without merit, we are defending our position vigorously, and we expect to recoup taxes paid. If this matter is adversely resolved, we could recognize significant additional tax expense, including for taxes previously paid.
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.
v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
We have organized our operations into three segments: North America, International, and AWS. We allocate to segment results the operating expenses “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” and “General and administrative” based on usage, which is generally reflected in the segment in which the costs are incurred. The majority of technology costs recorded in “Technology and infrastructure” are incurred in the U.S. and are included in our North America and AWS segments. The majority of infrastructure costs recorded in “Technology and infrastructure” are allocated to the AWS segment based on usage. There are no internal revenue transactions between our reportable segments. Our chief operating decision maker (“CODM”) is our President and Chief Executive Officer. Our CODM regularly reviews consolidated net sales, consolidated operating expenses, and consolidated operating income (loss) by segment. Amounts included in consolidated operating expenses include “Cost of sales,” “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” “General and administrative,” and “Other operating expense (income), net.” Our CODM manages our business primarily by reviewing consolidated results by segment on a quarterly basis, and using those results along with forecasts and other non-financial information in our annual budgeting process.
North America
The North America segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through North America-focused online and physical stores. This segment includes export sales from these online stores.
International
The International segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through internationally-focused online stores. This segment includes export sales from these internationally-focused online stores (including export sales from these online stores to customers in the U.S., Mexico, and Canada), but excludes export sales from our North America-focused online stores.
AWS
The AWS segment consists of amounts earned from global sales of compute, storage, database, and other services for start-ups, enterprises, government agencies, and academic institutions.
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
  
Year Ended December 31,
 202320242025
North America
Net sales$352,828 $387,497 $426,305 
Operating expenses337,951 362,530 396,686 
Operating income$14,877 $24,967 $29,619 
International
Net sales$131,200 $142,906 $161,894 
Operating expenses133,856 139,114 157,144 
Operating income (loss)$(2,656)$3,792 $4,750 
AWS
Net sales$90,757 $107,556 $128,725 
Operating expenses66,126 67,722 83,119 
Operating income$24,631 $39,834 $45,606 
Consolidated
Net sales$574,785 $637,959 $716,924 
Operating expenses537,933 569,366 636,949 
Operating income36,852 68,593 79,975 
Total non-operating income705 21 17,336 
Provision for income taxes(7,120)(9,265)(19,087)
Equity-method investment activity, net of tax(12)(101)(554)
Net income$30,425 $59,248 $77,670 
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):
  
Year Ended December 31,
 202320242025
Net Sales:
Online stores (1)$231,872 $247,029 $269,287 
Physical stores (2)20,030 21,215 22,561 
Third-party seller services (3)140,053 156,146 172,162 
Advertising services (4)46,906 56,214 68,635 
Subscription services (5)40,209 44,374 49,619 
AWS90,757 107,556 128,725 
Other (6)4,958 5,425 5,935 
Consolidated$574,785 $637,959 $716,924 
___________________
(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.
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,
 202320242025
United States$395,637 $438,015 $489,657 
Germany37,588 40,856 45,900 
United Kingdom33,591 37,855 43,212 
Japan26,002 27,401 30,688 
Rest of world81,967 93,832 107,467 
Consolidated$574,785 $637,959 $716,924 
Total segment assets exclude corporate assets, such as cash and cash equivalents, marketable securities, other long-term investments, corporate facilities, goodwill and other acquired intangible assets, and tax assets. Technology infrastructure assets, which are included in property and equipment, net, net additions, and the depreciation and amortization expense on these assets, are allocated among the segments based on usage, with the majority allocated to the AWS segment. Usage of technology infrastructure assets by the North America and International segments, and the related allocation of total net additions, can fluctuate on a quarter-to-quarter basis, and is affected by seasonality, peak periods, new product or service offerings, and other factors.
Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31,
 202320242025
North America (1)$196,029 $210,120 $235,652 
International (1)69,718 69,487 81,984 
AWS (2)108,533 155,953 252,588 
Corporate153,574 189,334 247,818 
Consolidated$527,854 $624,894 $818,042 
___________________
(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,
 202320242025
North America$93,632 $103,041 $122,043 
International24,357 25,618 30,632 
AWS72,701 110,683 190,055 
Corporate13,487 13,323 14,295 
Consolidated$204,177 $252,665 $357,025 
Total net additions to property and equipment include technology infrastructure assets and the effect of non-cash activity such as property and equipment acquired but not yet paid.
Total net additions to property and equipment are as follows (in millions):
 Year Ended December 31,
 202320242025
North America (1)$17,529 $24,348 $35,919 
International (1)4,144 6,643 7,617 
AWS (2)24,843 53,267 96,496 
Corporate1,828 1,494 2,320 
Consolidated$48,344 $85,752 $142,352 
___________________
(1)Includes property and equipment added under finance leases of $525 million, $616 million, and $1.0 billion in 2023, 2024, and 2025, and under build-to-suit lease arrangements of $356 million, $89 million, and $20 million in 2023, 2024, and 2025.
(2)Includes property and equipment added under finance leases of $117 million, $238 million, and $1.9 billion in 2023, 2024, and 2025, and under build-to-suit lease arrangements of $1 million, $8 million, and $421 million in 2023, 2024, and 2025.
U.S. property and equipment, net and operating leases were $196.0 billion, $241.6 billion, and $321.9 billion, as of December 31, 2023, 2024, and 2025, and non-U.S. property and equipment, net and operating leases were $80.7 billion, $87.2 billion, and $121.2 billion as of December 31, 2023, 2024, and 2025. 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,
 202320242025
North America$13,678 $14,285 $15,503 
International4,016 4,462 4,907 
AWS12,531 13,320 21,450 
Consolidated$30,225 $32,067 $41,860 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Terminated false
David A. Zapolsky [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On November 3, 2025, David A. Zapolsky, Senior Vice President, Chief Global Affairs and Legal Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 64,059 shares of Amazon.com, Inc. common stock over a period ending on November 30, 2026, subject to certain conditions.
Name David A. Zapolsky
Title Senior Vice President, Chief Global Affairs and Legal Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 3, 2025
Expiration Date November 30, 2026
Arrangement Duration 392 days
Aggregate Available 64,059
Douglas J. Herrington [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On November 10, 2025, Douglas J. Herrington, CEO Worldwide Amazon Stores, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 132,937 shares of Amazon.com, Inc. common stock over a period ending on December 31, 2026, subject to certain conditions.
Name Douglas J. Herrington
Title CEO Worldwide Amazon Stores
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 10, 2025
Expiration Date December 31, 2026
Arrangement Duration 416 days
Aggregate Available 132,937
Keith B. Alexander [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On November 11, 2025, Keith B. Alexander, a member of our Board of Directors, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 1,800 shares of Amazon.com, Inc. common stock over a period ending on November 4, 2026, subject to certain conditions.
Name Keith B. Alexander
Title Board of Directors
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 11, 2025
Expiration Date November 4, 2026
Arrangement Duration 358 days
Aggregate Available 1,800
Shelley L. Reynolds [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On November 11, 2025, Shelley L. Reynolds, Vice President, Worldwide Controller, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 9,744 shares of Amazon.com, Inc. common stock over a period ending on November 29, 2026, subject to certain conditions.
Name Shelley L. Reynolds
Title Vice President, Worldwide Controller
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 11, 2025
Expiration Date November 29, 2026
Arrangement Duration 383 days
Aggregate Available 9,744
Andrew R. Jassy [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On November 14, 2025, Andrew R. Jassy, President and Chief Executive Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 142,224 shares of Amazon.com, Inc. common stock over a period ending on December 31, 2026, subject to certain conditions.
Name Andrew R. Jassy
Title President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 14, 2025
Expiration Date December 31, 2026
Arrangement Duration 412 days
Aggregate Available 142,224
Jeffrey P. Bezos [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On November 14, 2025, Jeffrey P. Bezos, our founder and Executive Chair, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 15,000,000 shares of Amazon.com, Inc. common stock over a period ending on February 26, 2027, subject to certain conditions.
Name Jeffrey P. Bezos
Title founder and Executive Chair
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 14, 2025
Expiration Date February 26, 2027
Arrangement Duration 469 days
Aggregate Available 15,000,000
Brian T. Olsavsky [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On November 19, 2025, Brian T. Olsavsky, Senior Vice President and Chief Financial Officer, terminated a trading plan intended to satisfy Rule 10b5-1(c) initially adopted on May 20, 2025 to sell up to 53,249 shares of Amazon.com, Inc. common stock over a period ending on March 2, 2026.
Name Brian T. Olsavsky
Title Senior Vice President and Chief Financial Officer
Rule 10b5-1 Arrangement Terminated true
Termination Date November 19, 2025
Aggregate Available 53,249
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have processes in place for assessing, identifying, and managing material risks from potential unauthorized occurrences on or through our electronic information systems that could adversely affect the confidentiality, integrity, or availability of our information systems or the information residing on those systems. These include a wide variety of mechanisms, controls, technologies, methods, systems, and other processes that are designed to prevent, detect, or mitigate data loss, theft, misuse, unauthorized access, or other security incidents or vulnerabilities affecting the data. The data include confidential, proprietary, and business and personal information that we collect, process, store, and transmit as part of our business, including on behalf of third parties. We also use systems and processes designed to reduce the impact of a security incident at a third-party vendor or customer. Additionally, we use processes to oversee and identify material risks from cybersecurity threats associated with our use of third-party technology and systems, including: artificial intelligence technologies; technology and systems we use for encryption and authentication; employee email and other communication technologies; content delivery to customers; back-office support; and other functions.
As part of our risk management process, we conduct application security assessments, vulnerability management, penetration testing, security audits, and ongoing risk assessments. We also maintain a variety of incident response plans that are utilized when incidents are detected. We require employees with access to information systems, including all corporate employees, to undertake data protection and cybersecurity training and compliance programs annually.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We have processes in place for assessing, identifying, and managing material risks from potential unauthorized occurrences on or through our electronic information systems that could adversely affect the confidentiality, integrity, or availability of our information systems or the information residing on those systems. These include a wide variety of mechanisms, controls, technologies, methods, systems, and other processes that are designed to prevent, detect, or mitigate data loss, theft, misuse, unauthorized access, or other security incidents or vulnerabilities affecting the data. The data include confidential, proprietary, and business and personal information that we collect, process, store, and transmit as part of our business, including on behalf of third parties. We also use systems and processes designed to reduce the impact of a security incident at a third-party vendor or customer. Additionally, we use processes to oversee and identify material risks from cybersecurity threats associated with our use of third-party technology and systems, including: artificial intelligence technologies; technology and systems we use for encryption and authentication; employee email and other communication technologies; content delivery to customers; back-office support; and other functions
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our cybersecurity risks and associated mitigations are evaluated by senior leadership, including as part of our enterprise risk assessments that are reviewed by the Audit Committee and our Board of Directors. Such risks and mitigations are also subject to oversight by the Security Committee of our Board of Directors.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Security Committee, which is comprised of independent directors, oversees our policies and procedures for protecting our cybersecurity infrastructure and for compliance with applicable data protection and security regulations, and related risks. The Security Committee receives reports regarding such risks from management, including our chief security officer, and reports to the Board at least annually. The Security Committee also oversees the Board’s response to any significant cybersecurity incidents.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Security Committee, which is comprised of independent directors, oversees our policies and procedures for protecting our cybersecurity infrastructure and for compliance with applicable data protection and security regulations, and related risks. The Security Committee receives reports regarding such risks from management, including our chief security officer, and reports to the Board at least annually. The Security Committee also oversees the Board’s response to any significant cybersecurity incidents.
Cybersecurity Risk Role of Management [Text Block]
We have a unified and centrally-coordinated team, led by our chief security officer, that is responsible for implementing and maintaining centralized cybersecurity and data protection practices at Amazon in close coordination with senior leadership and other teams across Amazon. Reporting to our chief security officer are a number of experienced chief information security officers responsible for various parts of our business, including AWS, each of whom is supported by a team of trained cybersecurity professionals. In addition to our extensive in-house cybersecurity capabilities, at times we also engage assessors, consultants, auditors, or other third parties to assist with assessing, identifying, and managing cybersecurity risks.
Our cybersecurity risks and associated mitigations are evaluated by senior leadership, including as part of our enterprise risk assessments that are reviewed by the Audit Committee and our Board of Directors. Such risks and mitigations are also subject to oversight by the Security Committee of our Board of Directors. Additional information about cybersecurity risks we face is discussed in Item 1A of Part I, “Risk Factors,” under the heading “We Could Be Harmed by Data Loss or Other Security Incidents,” which should be read in conjunction with the information above.
The Security Committee, which is comprised of independent directors, oversees our policies and procedures for protecting our cybersecurity infrastructure and for compliance with applicable data protection and security regulations, and related risks. The Security Committee receives reports regarding such risks from management, including our chief security officer, and reports to the Board at least annually. The Security Committee also oversees the Board’s response to any significant cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] We have a unified and centrally-coordinated team, led by our chief security officer, that is responsible for implementing and maintaining centralized cybersecurity and data protection practices at Amazon in close coordination with senior leadership and other teams across Amazon.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
Our chief security officer, who has extensive cybersecurity knowledge and skills gained from over 15 years of work experience on the security team at Amazon and an extensive career in the technology and cybersecurity industries as a senior executive in the federal government, heads the team responsible for implementing and maintaining cybersecurity and data protection practices at Amazon and reports directly to the Chief Executive Officer.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Security Committee receives reports regarding such risks from management, including our chief security officer, and reports to the Board at least annually. The Security Committee also oversees the Board’s response to any significant cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures (Policies)
 12 Months Ended
Dec. 31, 2025
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 healthcare services and production and distribution of video content. Intercompany balances and transactions between consolidated entities are eliminated.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, collectability of receivables, commitments and contingencies, impairment of property and equipment and operating leases, income taxes, inventory valuation, self-insurance liabilities, stock-based compensation forfeiture rates, the determination of when to capitalize certain costs relating to new products or service offerings, useful lives of equipment, valuation and impairment of investments, valuation of acquired intangibles and goodwill, valuation of derivative instruments, vendor funding, and viewing patterns of capitalized video content. Actual results could differ materially from these estimates. We review the useful lives of equipment on an ongoing basis.
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 healthcare services, certain licensing and distribution of video content, 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 $1.4 billion, $1.4 billion, and $1.6 billion as of December 31, 2023, 2024, and 2025. Additions to the allowance were $5.2 billion, $5.5 billion, and $5.8 billion and deductions from the allowance were $5.1 billion, $5.5 billion, and $5.8 billion in 2023, 2024, and 2025. Included in “Inventories” on our consolidated balance sheets are assets totaling $992 million, $998 million, and $1.2 billion as of December 31, 2023, 2024, and 2025, 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.
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. Additionally, we have stock-based compensation awards 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. During 2025, we also recorded the settlement of a lawsuit with the FTC and the resolution of tax disputes associated with our stores business in Italy.
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.
Derivative Instruments
Derivative Instruments
We enter into energy contracts to secure electricity supply for our existing and future operations, some of which extend 20 years. We may make or receive net cash payments, rather than take delivery of electricity, when our consumption is less than committed quantities due to operational variability. Because we may make or receive net cash payments, these contracts are derivative instruments. These contracts are not traded on exchanges or transacted in secondary markets and are not used for trading or speculative purposes.
Derivative instruments are measured at fair value each reporting period. Fair value measurements are based on valuation methods using both common factors like electricity futures prices where there are more liquid trading volumes generally for remaining contractual periods up to four to five years, forward capacity auctions and risk-free interest rates, and a number of management assumptions for remaining contractual periods greater than four to five years where there is significantly less or no trading data such as long-dated forward commodity prices and implied volatility curves, and credit adjustments. The extent of management judgment is significant (Level 3).
Fair value measurements will not impact cash flows but may be material to our statements of operations and balance sheet due to the duration of these contracts and volatility inherent in valuation methods. Generally, we can terminate our contracts by paying cash in the form of fixed penalties, such as reimbursing the counterparty for the costs of new construction incurred. Termination penalties are generally not based on fair value measurements.
As of December 31, 2025, the energy contract quantities subject to derivative accounting fair value measurements were approximately 200 million megawatt-hours and the weighted-average remaining duration of these contracts is approximately 16 years, with the majority of these megawatt-hours to be delivered beyond the next nine years. The impact of these fair value measurements on our consolidated statement of operations for the year ended December 31, 2025 was not significant.
Changes in fair value measurements will create unrealized gains and losses recorded within operating expenses on our statements of operations with corresponding assets (unrealized gains) and liabilities (unrealized losses) recorded on our balance sheet.
Certain of our energy contracts are subject to regulatory approval and are exempt from derivative guidance until the approval is obtained. If possible, we may elect the normal purchases and normal sales (NPNS) scope exemption from derivative guidance for energy contracts where we expect to consume substantially all committed quantities. A contract that no longer meets the NPNS exemption must be measured at fair value with immediate recognition in our financial statements.
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 $3.0 billion and $3.3 billion as of December 31, 2024 and 2025.
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.
Accounts Receivable, Net and Other
Accounts Receivable, Net and Other
Included in “Accounts receivable, net and other” on our consolidated balance sheets are receivables primarily related to customers, vendors, and prepaid expenses and other current assets. As of December 31, 2024 and 2025, customer receivables, net, were $34.3 billion and $40.4 billion, vendor receivables, net, were $11.6 billion and $15.9 billion, and other receivables, net, were $3.4 billion and $4.5 billion. Prepaid expenses and other current assets, which include amounts related to non-income taxes and satellite network launch services deposits, were $6.3 billion and $6.9 billion as of December 31, 2024 and December 31, 2025. We currently expense satellite network launch services deposits upon launch to “Technology and infrastructure.”
We estimate losses on receivables based on expected losses, including our historical experience of actual losses. 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. Heavy equipment consists primarily of assets that support the infrastructure of our fulfillment network and data centers. Other equipment consists primarily of fulfillment equipment. Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets and classified within the corresponding operating expense categories on our consolidated statements of operations. The estimated useful lives as of December 31, 2025, are as follows:
Property and equipmentEstimated useful life
Buildings
Lesser of forty years or the remaining life of the underlying building
Servers and networking equipment
Five to six years (1)
Heavy equipment
Ten to thirteen years (2)
Other equipment
Three to ten years
___________________
(1)Effective January 1, 2024, we changed our estimate of the useful lives for our servers from five to six years, and effective January 1, 2025, we changed our estimate of the useful lives of a subset of our servers and networking equipment from six to five years.
(2)Ten years prior to January 1, 2025.
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, 2025, 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 convertible notes and certain equity investments; video and music content, net of accumulated amortization; long-term deferred tax assets; acquired intangible assets, net of accumulated amortization; satellite network launch services deposits; and affordable housing loans. We will reclassify the satellite network launch service deposits to construction-in-progress included within “Property and equipment, net” on our consolidated balance sheet once the service achieves commercial viability, including sales to customers. We recognize certain transactions with governments when it is probable 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 3.2 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, 2024 and 2025 were $19.6 billion and $21.3 billion. Total video and music expense was $20.4 billion and $22.4 billion for the year ended December 31, 2024 and 2025. 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.
Cash Equivalents and Marketable Securities
Cash Equivalents and Marketable Securities
We generally invest our excess cash in investment grade short- to intermediate-term marketable debt securities and AAA-rated money market funds. 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.
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.
Non-Marketable Investments Notes that are convertible to equity classified as available-for-sale are reported at fair value with unrealized gains and losses included in “Accumulated other comprehensive income (loss),” a separate component of stockholders’ equity. Credit losses, if any, are recorded as an allowance through “Other income (expense), net” on our consolidated statements of operations. Upon conversion, the amount of the notes reported at fair value are reclassified generally from available-for-sale to equity investments accounted for at cost, with any associated unrealized gain or loss reclassified from “Accumulated other comprehensive income (loss)” to “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 tax-related liabilities, leases and asset retirement obligations, payroll and related expenses, self-insurance liabilities, unredeemed gift cards, other operating expenses, customer liabilities, marketing liabilities, current debt, and acquired digital media content.
As of December 31, 2024 and 2025, our liabilities for payroll related expenses were $7.5 billion and $10.5 billion and our liabilities for unredeemed gift cards were $5.4 billion and $5.6 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 healthcare 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. As of December 31, 2024 and 2025, our total self-insurance liabilities, which primarily relate to automobile liability, were $8.5 billion and $10.4 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, 2024 was $24.6 billion, of which $17.4 billion was recognized as revenue during the year ended December 31, 2025 and our total unearned revenue as of December 31, 2025 was $25.0 billion. Included in “Other long-term liabilities” on our consolidated balance sheets was $6.5 billion and $4.4 billion of unearned revenue as of December 31, 2024 and 2025.
Additionally, we have performance obligations, primarily related to AWS, associated with commitments in customer contracts for future services that we expect to fulfill but have not yet been recognized in our financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized were approximately $244 billion as of December 31, 2025. The weighted average remaining life of our long-term contracts is 4.1 years. The amount and timing of revenue recognition will be driven by customer usage and our performance in accordance with contractual obligations, which can extend beyond the original contractual duration and commitment.
Other Long-Term Liabilities
Other Long-Term Liabilities
Included in “Other long-term liabilities” on our consolidated balance sheets are liabilities primarily related to deferred tax liabilities, financing obligations, asset retirement obligations, unearned revenue, tax contingencies, and digital video and music content.
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 Recently Adopted and Not Yet Adopted
Accounting Pronouncements Recently Adopted
In December 2023, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. We adopted this ASU for the year ended December 31, 2025 on a retroactive basis. See “Note 9 — Income Taxes.”
Accounting Pronouncements Not Yet Adopted
In November 2024, the FASB issued an ASU amending existing income statement disclosure guidance, primarily requiring more detailed disclosure for expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The amendments can be applied on either a prospective or retroactive basis. We are currently evaluating the ASU to determine its impact on our disclosures.
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Supplemental Cash Flow Information
The following table shows supplemental cash flow information (in millions):
Year Ended December 31,
202320242025
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$2,608 $1,858 $1,458 
Cash paid for operating leases10,453 12,341 15,038 
Cash paid for interest on finance leases308 287 295 
Cash paid for interest on financing obligations196 219 196 
Cash paid for income taxes, net of refunds11,179 12,308 8,295 
Assets acquired under operating leases14,052 15,424 19,930 
Property and equipment acquired under finance leases, net of remeasurements and modifications642 854 2,911 
Increase (decrease) in property and equipment acquired but not yet paid(1,414)7,039 10,155 
The components of cash paid for income taxes, net of refunds, are as follows (in millions):
 Year Ended December 31,
202320242025
U.S. Federal$7,435 $7,630 $2,751 
U.S. State2,070 2,450 2,125 
International1,674 2,228 3,419 
Total cash taxes paid, net of refunds$11,179 $12,308 $8,295 
Schedule of Calculation of Diluted Shares
The following table shows the calculation of diluted shares (in millions):
  
Year Ended December 31,
 202320242025
Shares used in computation of basic earnings per share10,304 10,473 10,656 
Total dilutive effect of outstanding stock awards188 248 171 
Shares used in computation of diluted earnings per share10,492 10,721 10,827 
Schedule of Other Income (Expense)
Other income (expense), net, is as follows (in millions):
Year Ended December 31,
202320242025
Marketable equity securities valuation gains (losses), net$984 $(1,278)$1,439 
Equity warrant valuation gains (losses), net26 (192)553 
Reclassification adjustments for gains (losses) on available-for-sale debt securities, net(65)(7)5,600 
Upward adjustments relating to equity investments in private companies40 49 7,709 
Foreign currency gains (losses), net65 (408)19 
Other, net(112)(414)(91)
Total other income (expense), net$938 $(2,250)$15,229 
Schedule of Estimated Useful Lives The estimated useful lives as of December 31, 2025, are as follows:
Property and equipmentEstimated useful life
Buildings
Lesser of forty years or the remaining life of the underlying building
Servers and networking equipment
Five to six years (1)
Heavy equipment
Ten to thirteen years (2)
Other equipment
Three to ten years
___________________
(1)Effective January 1, 2024, we changed our estimate of the useful lives for our servers from five to six years, and effective January 1, 2025, we changed our estimate of the useful lives of a subset of our servers and networking equipment from six to five years.
(2)Ten years prior to January 1, 2025.
Property and equipment, at cost, consisted of the following (in millions): 
 December 31,
 20242025
Gross property and equipment (1):
Land and buildings$123,039 $155,121 
Servers and networking equipment113,156 172,492 
Heavy equipment52,228 65,545 
Other equipment53,509 63,376 
Other assets5,487 5,819 
Construction in progress46,636 71,745 
Gross property and equipment394,055 534,098 
Total accumulated depreciation and amortization (1)141,390 177,073 
Total property and equipment, net$252,665 $357,025 
__________________
(1)Includes the original cost and accumulated depreciation of fully-depreciated assets.
v3.25.4
Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Fair Value by Major Security Type The following table summarizes, by major investment 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, 2024
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash and time deposits$17,055 $— $— $17,055 
Level 1:
Money market funds28,282 — — 28,282 
Equity securities (1)3,318 
Level 2:
U.S. government and agency securities3,452 1 (52)3,401 
Corporate debt securities50,959 3 (50)50,912 
Asset-backed securities1,539 2 (18)1,523 
Other financial instruments245 — (1)244 
$101,532 $6 $(121)$104,735 
Less: Restricted cash, cash equivalents, and marketable securities (2)(3,533)
Total cash, cash equivalents, and marketable securities$101,202 
 December 31, 2025
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash and time deposits$16,145 $— $— $16,145 
Level 1:
Money market funds29,777 — — 29,777 
Equity securities (1)3,687 
Level 2:
U.S. government and agency securities5,231 8 (17)5,222 
Corporate debt securities69,542 50 (7)69,585 
Asset-backed securities1,781 8 (9)1,780 
Other financial instruments129 — — 129 
$122,605 $66 $(33)$126,325 
Less: Restricted cash, cash equivalents, and marketable securities (2)(3,296)
Total cash, cash equivalents, and marketable securities$123,029 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $1.0 billion, $(1.3) billion, and $1.2 billion for the years ended December 31, 2023, 2024, and 2025.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable debt securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, standby and trade letters of credit, and licenses of digital media content. We classify cash, cash equivalents, and marketable debt securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 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,
202320242025
Realized gains$2 $3 $18 
Realized losses67 10 7 
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, 2025 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$96,776 $96,778 
Due after one year through five years8,217 8,264 
Due after five years through ten years501 501 
Due after ten years966 950 
Total$106,460 $106,493 
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, 2024December 31, 2025
Cash and cash equivalents$78,779 $86,810 
Restricted cash included in accounts receivable, net and other247 300 
Restricted cash included in other assets3,286 2,996 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$82,312 $90,106 
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, 2024December 31, 2025
Cash and cash equivalents$78,779 $86,810 
Restricted cash included in accounts receivable, net and other247 300 
Restricted cash included in other assets3,286 2,996 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$82,312 $90,106 
v3.25.4
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, at Cost The estimated useful lives as of December 31, 2025, are as follows:
Property and equipmentEstimated useful life
Buildings
Lesser of forty years or the remaining life of the underlying building
Servers and networking equipment
Five to six years (1)
Heavy equipment
Ten to thirteen years (2)
Other equipment
Three to ten years
___________________
(1)Effective January 1, 2024, we changed our estimate of the useful lives for our servers from five to six years, and effective January 1, 2025, we changed our estimate of the useful lives of a subset of our servers and networking equipment from six to five years.
(2)Ten years prior to January 1, 2025.
Property and equipment, at cost, consisted of the following (in millions): 
 December 31,
 20242025
Gross property and equipment (1):
Land and buildings$123,039 $155,121 
Servers and networking equipment113,156 172,492 
Heavy equipment52,228 65,545 
Other equipment53,509 63,376 
Other assets5,487 5,819 
Construction in progress46,636 71,745 
Gross property and equipment394,055 534,098 
Total accumulated depreciation and amortization (1)141,390 177,073 
Total property and equipment, net$252,665 $357,025 
__________________
(1)Includes the original cost and accumulated depreciation of fully-depreciated assets.
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease, Cost
Lease cost recognized in our consolidated statements of operations is summarized as follows (in millions):
 Year Ended December 31,
202320242025
Operating lease cost$10,550 $11,961 $14,006 
Finance lease cost:
Amortization of lease assets5,899 3,866 3,284 
Interest on lease liabilities304 285 312 
Finance lease cost6,203 4,151 3,596 
Variable lease cost2,165 2,465 2,694 
Total lease cost$18,918 $18,577 $20,296 
Other Operating and Finance Lease Information
Other information about lease amounts recognized in our consolidated financial statements is as follows:
 December 31, 2024December 31, 2025
 
Weighted-average remaining lease term – operating leases10.6 years10.0 years
Weighted-average remaining lease term – finance leases11.9 years12.6 years
Weighted-average discount rate – operating leases3.5 %3.7 %
Weighted-average discount rate – finance leases3.0 %3.4 %
Operating and Finance Lease Liability Reconciliation
Our lease liabilities were as follows (in millions):
December 31, 2024
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$95,294 $12,520 $107,814 
Less: imputed interest(15,698)(1,918)(17,616)
Present value of lease liabilities79,596 10,602 90,198 
Less: current portion of lease liabilities(10,546)(1,375)(11,921)
Total long-term lease liabilities$69,050 $9,227 $78,277 
December 31, 2025
 Operating LeasesFinance LeasesTotal
Gross lease liabilities$106,914 $14,917 $121,831 
Less: imputed interest(17,662)(2,631)(20,293)
Present value of lease liabilities89,252 12,286 101,538 
Less: current portion of lease liabilities(12,655)(1,544)(14,199)
Total long-term lease liabilities$76,597 $10,742 $87,339 
v3.25.4
Acquisitions, Goodwill, and Acquired Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Summary of Goodwill Activity The following summarizes our goodwill activity in 2024 and 2025 by segment (in millions):
North
America		InternationalAWSConsolidated
Goodwill - January 1, 2024$19,126 $2,412 $1,251 $22,789 
Acquisition activity191 77 52 320 
Other adjustments (1)(28)(4)(3)(35)
Goodwill - December 31, 202419,289 2,485 1,300 23,074 
Acquisition activity25 85 2 112 
Other adjustments (1)49 8 30 87 
Goodwill - December 31, 2025$19,363 $2,578 $1,332 $23,273 
 ___________________
(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,
 20242025
  
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$2,629 $(860)$1,769 $2,402 $(754)$1,648 16.5
Contract-based5,767 (1,541)4,226 7,068 (1,957)5,111 16.6
Technology- and content-based1,246 (284)962 1,463 (605)858 3.1
Customer-related764 (282)482 654 (237)417 5.2
Total finite-lived intangible assets$10,406 $(2,967)$7,439 $11,587 $(3,553)$8,034 14.5
IPR&D and other (3)$1,163  $1,163 $1,163  $1,163 
Total acquired intangibles $11,569 $(2,967)$8,602 $12,750 $(3,553)$9,197 
 ___________________
(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 forty 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 (“IPR&D”) are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we reclassify the cost of the IPR&D assets to finite-lived intangible assets, determine the useful life, and begin amortization.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Expected future amortization expense of acquired finite-lived intangible assets as of December 31, 2025, is as follows (in millions):
 
Year Ended December 31,
2026$1,085 
2027962 
2028764 
2029690 
2030593 
Thereafter3,940 
$8,034 
v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2025
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, 2024December 31, 2025
2014 Notes issuance of $6.0 billion
2034 - 2044
4.80% - 4.95%
4.93% - 5.12%
$2,750 $2,750 
2017 Notes issuance of $17.0 billion
2027 - 2057
3.15% - 4.25%
3.25% - 4.33%
13,000 12,000 
2020 Notes issuance of $10.0 billion
2027 - 2060
1.20% - 2.70%
1.26% - 2.77%
9,000 7,750 
2021 Notes issuance of $18.5 billion
2026 - 2061
1.00% - 3.25%
1.14% - 3.31%
15,000 15,000 
April 2022 Notes issuance of $12.8 billion
2027 - 2062
3.30% - 4.10%
3.40% - 4.15%
11,250 9,750 
December 2022 Notes issuance of $8.3 billion
2027 - 2032
4.55% - 4.70%
4.61% - 4.74%
7,000 5,750 
2025 Notes issuance of $15.0 billion
2028 - 2065
3.90% - 5.55%
3.99% - 5.62%
— 15,000 
Other long-term debt— 836 
Total face value of long-term debt58,000 68,836 
Unamortized discount and issuance costs, net(360)(440)
Less: current portion of long-term debt(5,017)(2,748)
Long-term debt$52,623 $65,648 
___________________
(1)The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, December 2022, and 2025 Notes were 14.4, 15.4, 18.1, 13.2, 13.8, 4.4, and 15.6 years as of December 31, 2025. The combined weighted-average remaining life of the Notes was 14.1 years as of December 31, 2025.
Future Principal Payments for Debt
As of December 31, 2025, future principal payments for our total long-term debt were as follows (in millions):
Year Ended December 31,
2026$2,752 
20278,832 
20284,752 
20293,000 
20304,500 
Thereafter45,000 
$68,836 
v3.25.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Principal Contractual Commitments, Excluding Open Orders for Purchases
The following summarizes our principal contractual commitments, excluding open orders for purchases that support normal operations and are generally cancellable, as of December 31, 2025 (in millions):
 Year Ended December 31,  
 20262027202820292030ThereafterTotal
Long-term debt principal and interest$5,201 $11,250 $6,891 $4,993 $6,381 $73,486 $108,202 
Operating lease liabilities15,380 13,186 12,140 10,911 9,710 45,587 106,914 
Finance lease liabilities, including interest1,838 1,626 1,726 1,285 1,122 7,320 14,917 
Financing obligations, including interest (1)577 582 592 601 612 6,651 9,615 
Leases not yet commenced5,808 9,103 6,420 6,571 6,738 61,733 96,373 
Unconditional purchase obligations (2)19,906 8,934 7,195 6,658 6,602 35,477 84,772 
Other commitments (3)2,956 1,578 1,120 1,000 988 11,226 18,868 
Total commitments$51,666 $46,259 $36,084 $32,019 $32,153 $241,480 $439,661 
___________________
(1)Includes non-cancellable financing obligations for fulfillment network and data center facilities. Excluding interest, current financing obligations of $312 million and $358 million are recorded within “Accrued expenses and other” and $7.1 billion and $7.8 billion are recorded within “Other long-term liabilities” as of December 31, 2024 and 2025. The weighted-average remaining term of the financing obligations was 16.1 years and 15.0 years and the weighted-average imputed interest rate was 3.1% and 2.9% as of December 31, 2024 and 2025.
(2)Includes unconditional purchase obligations related to long-term agreements to acquire and license digital media content, procure energy, acquire property and equipment, and license software that are not reflected on the consolidated balance sheets. For those agreements with variable terms or subject to certain regulatory approvals, we do not estimate the total obligation beyond any minimum quantities and/or pricing, or termination penalties, as of the reporting date. Purchase obligations associated with renewal provisions solely at the option of the content provider are included to the extent such commitments are fixed or a minimum amount is specified. Energy agreements based on actual generation without a fixed or minimum volume commitment are not included. Certain of our energy agreements also provide the right to receive energy certificates.
(3)Includes asset retirement obligations, the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements that are under construction, and liabilities associated with digital media content agreements with initial terms greater than one year. Excludes approximately $6.6 billion of income tax contingencies for which we cannot make a reasonably reliable estimate of the amount and period of payment, if any.
v3.25.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Expense
Stock-based compensation expense is as follows (in millions):
Year Ended December 31,
202320242025
Cost of sales$836 $838 $777 
Fulfillment3,090 2,973 2,703 
Technology and infrastructure13,434 12,150 10,871 
Sales and marketing4,623 4,084 3,445 
General and administrative2,040 1,966 1,671 
Total stock-based compensation expense (1)$24,023 $22,011 $19,467 
___________________
(1)The related tax benefits were $5.4 billion, $5.0 billion, and $4.4 billion for 2023, 2024, and 2025.
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, 2023384.4 $144 
Units granted218.1 106 
Units vested(139.9)143 
Units forfeited(56.8)135 
Outstanding as of December 31, 2023405.8 125 
Units granted126.9 183 
Units vested(209.7)132 
Units forfeited(39.9)133 
Outstanding as of December 31, 2024283.1 145 
Units granted112.9 200 
Units vested(138.1)135 
Units forfeited(35.4)157 
Outstanding as of December 31, 2025222.5 178 
Scheduled Vesting of Outstanding Restricted Stock Units
Scheduled vesting for outstanding restricted stock units as of December 31, 2025, is as follows (in millions):
 Year Ended    
 20262027202820292030ThereafterTotal
Scheduled vesting — restricted stock units110.4 69.9 30.7 9.8 0.8 0.9 222.5 
Schedule of Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in “Accumulated other comprehensive income (loss)” by separate components (in millions):
December 31,
 20242025
Total beginning accumulated other comprehensive income (loss), net of tax of $99 and $(1,762)
$(3,040)$(34)
Foreign currency translation adjustments:
Beginning of year balance, net of tax of $66 and $292
(2,841)(6,174)
Foreign currency translation adjustments, net of tax of $226 and $(194)
(3,333)4,226
End of year balance, net of tax of $292 and $98
(6,174)(1,948)
Unrealized gains (losses) on available-for-sale debt securities:
Beginning of year balance, net of tax of $34 and $(2,054)
(205)6,139
Change in net unrealized gains (losses), net of tax of $(2,086) and $(8,754)
6,339 28,304
Reclassification adjustment for net losses (gains) included in “Other income (expense), net,” net of tax of $(2) and $1,327
5 (4,273)
End of year balance, net of tax of $(2,054) and $(9,481)
6,139 30,170
Other:
Beginning of year balance, net of tax of $(1) and $0
61
Other, net of tax of $1 and $(1)
(5)7
End of year balance, net of tax of $0 and $(1)
1 8
Total ending accumulated other comprehensive income (loss), net of tax of $(1,762) and $(9,384)
$(34)$28,230 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Cash Paid for Income Taxes
The following table shows supplemental cash flow information (in millions):
Year Ended December 31,
202320242025
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on debt, net of capitalized interest$2,608 $1,858 $1,458 
Cash paid for operating leases10,453 12,341 15,038 
Cash paid for interest on finance leases308 287 295 
Cash paid for interest on financing obligations196 219 196 
Cash paid for income taxes, net of refunds11,179 12,308 8,295 
Assets acquired under operating leases14,052 15,424 19,930 
Property and equipment acquired under finance leases, net of remeasurements and modifications642 854 2,911 
Increase (decrease) in property and equipment acquired but not yet paid(1,414)7,039 10,155 
The components of cash paid for income taxes, net of refunds, are as follows (in millions):
 Year Ended December 31,
202320242025
U.S. Federal$7,435 $7,630 $2,751 
U.S. State2,070 2,450 2,125 
International1,674 2,228 3,419 
Total cash taxes paid, net of refunds$11,179 $12,308 $8,295 
Components of Provision for Income Taxes, Net
The components of the provision for income taxes, net are as follows (in millions):
 Year Ended December 31,
202320242025
U.S. Federal:
Current$8,652 $9,039 $1,220 
Deferred(5,505)(4,101)11,134 
Total3,147 4,938 12,354 
U.S. State:
Current2,158 2,109 2,067 
Deferred(498)(453)984 
Total1,660 1,656 3,051 
International:
Current2,186 2,765 4,330 
Deferred127 (94)(648)
Total2,313 2,671 3,682 
Provision for income taxes, net$7,120 $9,265 $19,087 
Components of Income Before Income Taxes, Domestic and Foreign
U.S. and international components of income before income taxes are as follows (in millions):
 Year Ended December 31,
 202320242025
U.S.$32,328 $61,947 $89,537 
International5,229 6,667 7,774 
Income before income taxes$37,557 $68,614 $97,311 
Effective Income Tax Rate Reconciliation
The items accounting for differences between income taxes computed at the federal statutory rate and the provision recorded for income taxes are as follows (in millions, except percentages):
 Year Ended December 31,
 202320242025
Income taxes computed at the federal statutory rate$7,887 21.0 %$14,409 21.0 %$20,435 21.0 %
Federal:
Tax credits:
Research and development tax credits(2,196)(5.8)(2,644)(3.9)(2,403)(2.5)
Foreign tax credits(558)(1.5)(440)(0.6)(642)(0.7)
Other credits(185)(0.5)(176)(0.3)(139)(0.1)
Effect of cross-border tax laws:
Foreign income deduction (1)(1,429)(3.8)(2,379)(3.5)(522)(0.5)
Other effects of cross-border tax laws(18)— (33)— (271)(0.3)
Nontaxable and nondeductible items:
Stock-based compensation (2)784 2.1 (2,236)(3.3)(2,029)(2.1)
Other nontaxable and nondeductible items 162 0.4 158 0.3 372 0.4 
Other186 0.5 33 — 486 0.5 
State and local income taxes, net of federal effect (3)1,292 3.4 1,321 1.9 2,455 2.5 
Foreign tax effects1,117 3.0 1,150 1.7 1,517 1.6 
Worldwide changes in prior period unrecognized tax benefits78 0.2 102 0.2 (172)(0.2)
Total$7,120 19.0 %$9,265 13.5 %$19,087 19.6 %
___________________
(1)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.
(2)Includes amounts related to non-taxable and non-deductible stock-based compensation, in addition to excess tax benefits or shortfalls from stock-based compensation. Our tax provision includes $519 million of tax shortfalls from stock-based compensation for 2023, and $2.8 billion and $2.6 billion of excess tax benefits from stock-based compensation for 2024 and 2025.
(3)The jurisdictions that contribute to the majority of the tax effect in this category are Illinois, Maryland, New Jersey, New York, Pennsylvania, and Virginia.
Deferred Tax Assets and Liabilities
Deferred income tax assets and liabilities are as follows (in millions):
 December 31,
 20242025
Deferred tax assets (1):
Loss carryforwards U.S. - Federal/States$692 $632 
Loss carryforwards - Foreign2,687 2,936 
Accrued liabilities, reserves, and other expenses4,254 5,545 
Stock-based compensation4,089 4,295 
Depreciation and amortization1,133 1,503 
Operating lease liabilities20,921 23,596 
Capitalized research and development22,701 18,725 
Other items1,688 2,166 
Tax credits1,773 2,812 
Total gross deferred tax assets59,938 62,210 
Less valuation allowances (2)(4,893)(5,560)
Deferred tax assets, net of valuation allowances55,045 56,650 
Deferred tax liabilities:
Depreciation and amortization(16,240)(23,159)
Operating lease assets(19,517)(22,177)
Assets held for investment(2,133)(13,149)
Other items(1,190)(1,159)
Net deferred tax assets (liabilities), net of valuation allowances$15,965 $(2,994)
 ___________________
(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,
 202320242025
Gross tax contingencies – January 1$4,002 $5,228 $6,485 
Gross increases to tax positions in prior periods440 154 310 
Gross decreases to tax positions in prior periods(38)(129)(1,180)
Gross increases to current period tax positions1,009 1,392 1,292 
Settlements with tax authorities(106)(9)(312)
Lapse of statute of limitations(79)(151)(29)
Gross tax contingencies – December 31 (1)$5,228 $6,485 $6,566 
 ___________________
(1)As of December 31, 2025, we had approximately $6.6 billion of income tax contingencies of which $5.0 billion, if fully recognized, would decrease our effective tax rate.
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Information on Reportable Segments and Reconciliation to Consolidated Net Income (Loss)
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
  
Year Ended December 31,
 202320242025
North America
Net sales$352,828 $387,497 $426,305 
Operating expenses337,951 362,530 396,686 
Operating income$14,877 $24,967 $29,619 
International
Net sales$131,200 $142,906 $161,894 
Operating expenses133,856 139,114 157,144 
Operating income (loss)$(2,656)$3,792 $4,750 
AWS
Net sales$90,757 $107,556 $128,725 
Operating expenses66,126 67,722 83,119 
Operating income$24,631 $39,834 $45,606 
Consolidated
Net sales$574,785 $637,959 $716,924 
Operating expenses537,933 569,366 636,949 
Operating income36,852 68,593 79,975 
Total non-operating income705 21 17,336 
Provision for income taxes(7,120)(9,265)(19,087)
Equity-method investment activity, net of tax(12)(101)(554)
Net income$30,425 $59,248 $77,670 
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,
 202320242025
Net Sales:
Online stores (1)$231,872 $247,029 $269,287 
Physical stores (2)20,030 21,215 22,561 
Third-party seller services (3)140,053 156,146 172,162 
Advertising services (4)46,906 56,214 68,635 
Subscription services (5)40,209 44,374 49,619 
AWS90,757 107,556 128,725 
Other (6)4,958 5,425 5,935 
Consolidated$574,785 $637,959 $716,924 
___________________
(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.
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,
 202320242025
United States$395,637 $438,015 $489,657 
Germany37,588 40,856 45,900 
United Kingdom33,591 37,855 43,212 
Japan26,002 27,401 30,688 
Rest of world81,967 93,832 107,467 
Consolidated$574,785 $637,959 $716,924 
Reconciliation of Assets from Segment to Consolidated
Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31,
 202320242025
North America (1)$196,029 $210,120 $235,652 
International (1)69,718 69,487 81,984 
AWS (2)108,533 155,953 252,588 
Corporate153,574 189,334 247,818 
Consolidated$527,854 $624,894 $818,042 
___________________
(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,
 202320242025
North America$93,632 $103,041 $122,043 
International24,357 25,618 30,632 
AWS72,701 110,683 190,055 
Corporate13,487 13,323 14,295 
Consolidated$204,177 $252,665 $357,025 
Reconciliation of Property and Equipment Additions and Depreciation from Segments to Consolidated
Total net additions to property and equipment include technology infrastructure assets and the effect of non-cash activity such as property and equipment acquired but not yet paid.
Total net additions to property and equipment are as follows (in millions):
 Year Ended December 31,
 202320242025
North America (1)$17,529 $24,348 $35,919 
International (1)4,144 6,643 7,617 
AWS (2)24,843 53,267 96,496 
Corporate1,828 1,494 2,320 
Consolidated$48,344 $85,752 $142,352 
___________________
(1)Includes property and equipment added under finance leases of $525 million, $616 million, and $1.0 billion in 2023, 2024, and 2025, and under build-to-suit lease arrangements of $356 million, $89 million, and $20 million in 2023, 2024, and 2025.
(2)Includes property and equipment added under finance leases of $117 million, $238 million, and $1.9 billion in 2023, 2024, and 2025, and under build-to-suit lease arrangements of $1 million, $8 million, and $421 million in 2023, 2024, and 2025.
Total depreciation and amortization expense, by segment, is as follows (in millions):
 Year Ended December 31,
 202320242025
North America$13,678 $14,285 $15,503 
International4,016 4,462 4,907 
AWS12,531 13,320 21,450 
Consolidated$30,225 $32,067 $41,860 
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Description of Business (Details)
 12 Months Ended
Dec. 31, 2025
segment
Accounting Policies [Abstract]  
Number of operating segments 3
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Use of Estimates (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jan. 01, 2025
Jan. 01, 2024
Property, Plant and Equipment [Line Items]              
Accelerated depreciation and amortization expense     $ 65,756 $ 52,795 $ 48,663    
Reduction in net income     $ (77,670) $ (59,248) $ (30,425)    
Reduction in basic earnings per share (in dollars per share)     $ (7.29) $ (5.66) $ (2.95)    
Reduction in diluted earnings per share (in dollars per share)     $ (7.17) $ (5.53) $ (2.90)    
Severance costs $ 730 $ 1,800 $ 2,700        
Impairments 610   1,300        
Federal Trade Commission | Settled Litigation              
Property, Plant and Equipment [Line Items]              
Pre-judgment interest   $ 2,500          
Litigation Cases | Settled Litigation              
Property, Plant and Equipment [Line Items]              
Pre-judgment interest 2,400            
Tax Disputes and Lawsuit | Settled Litigation              
Property, Plant and Equipment [Line Items]              
Pre-judgment interest $ 1,100            
Change In Property And Equipment Useful Life              
Property, Plant and Equipment [Line Items]              
Accelerated depreciation and amortization expense     1,400        
Reduction in net income     $ 1,000        
Reduction in basic earnings per share (in dollars per share)     $ 0.10        
Reduction in diluted earnings per share (in dollars per share)     $ 0.10        
Servers | Change In Property And Equipment Useful Life              
Property, Plant and Equipment [Line Items]              
Estimated useful lives of assets       6 years 5 years 5 years 6 years
Networking equipment | Change In Property And Equipment Useful Life              
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      
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]      
Cash paid for interest on debt, net of capitalized interest $ 1,458 $ 1,858 $ 2,608
Cash paid for operating leases 15,038 12,341 10,453
Cash paid for interest on finance leases 295 287 308
Cash paid for interest on financing obligations 196 219 196
Cash paid for income taxes, net of refunds 8,295 12,308 11,179
Assets acquired under operating leases 19,930 15,424 14,052
Property and equipment acquired under finance leases, net of remeasurements and modifications 2,911 854 642
Increase (decrease) in property and equipment acquired but not yet paid $ 10,155 $ 7,039 $ (1,414)
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Calculation of Diluted Shares (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]      
Shares used in computation of basic earnings per share 10,656 10,473 10,304
Total dilutive effect of outstanding stock awards 171 248 188
Shares used in computation of diluted earnings per share 10,827 10,721 10,492
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]      
Liability for return allowance $ 1,600 $ 1,400 $ 1,400
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Liability for return allowance 1,600 1,400 1,400
Rights to recover products from customers 1,200 998 992
Sales Returns and Allowances      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Additions to allowance for returns 5,800 5,500 5,200
Deductions to allowance for returns $ 5,800 $ 5,500 $ 5,100
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Marketing (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]      
Advertising and other promotional costs $ 23.5 $ 21.4 $ 20.3
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Stock-Based Compensation (Details)
 12 Months Ended
Dec. 31, 2025
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%
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Other Income (Expense), Net (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]          
Marketable equity securities valuation gains (losses), net     $ 1,439 $ (1,278) $ 984
Equity warrant valuation gains (losses), net     553 (192) 26
Reclassification adjustments for gains (losses) on available-for-sale debt securities, net $ 2,300 $ 3,300 5,600 (7) (65)
Upward adjustments relating to equity investments in private companies $ 7,200   7,709 49 40
Foreign currency gains (losses), net     19 (408) 65
Other, net     (91) (414) (112)
Total other income (expense), net     $ 15,229 $ (2,250) $ 938
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Inventories (Details) - USD ($)
$ in Billions
Dec. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Inventory valuation allowance $ 3.3 $ 3.0
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Derivative Instruments (Details)
MWh in Millions
 12 Months Ended
Dec. 31, 2025
MWh
Derivative [Line Items]  
Energy contract quantity 200
Period for which the majority of mega-watt hours is expected to be delivered 9 years
Maximum  
Derivative [Line Items]  
Derivative term 20 years
Maximum | Electric Future Prices | Fair Value, Inputs, Level 1 and Level 2  
Derivative [Line Items]  
Derivative, remaining maturity 5 years
Maximum | Various Management Assumptions | Fair Value, Inputs, Level 3  
Derivative [Line Items]  
Derivative, remaining maturity 5 years
Minimum | Electric Future Prices | Fair Value, Inputs, Level 1 and Level 2  
Derivative [Line Items]  
Derivative, remaining maturity 4 years
Minimum | Various Management Assumptions | Fair Value, Inputs, Level 3  
Derivative [Line Items]  
Derivative, remaining maturity 4 years
Weighted Average  
Derivative [Line Items]  
Derivative term 16 years
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Accounts Receivable, Net and Other (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other $ 67,729 $ 55,451  
Prepaid expenses and other current assets 6,900 6,300  
Allowance for doubtful accounts 2,400 2,000 $ 1,700
Additions to allowance for doubtful accounts 1,600 1,900 1,900
Deductions to allowance for doubtful accounts 1,200 1,600 $ 1,600
Customer receivables      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other 40,400 34,300  
Vendor receivables      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other 15,900 11,600  
Other Receivables      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts receivable, net and other $ 4,500 $ 3,400  
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Property and Equipment, Net (Details)
Dec. 31, 2025
Dec. 31, 2024
Building    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 40 years  
Heavy equipment    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets   10 years
Minimum | Servers    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 5 years  
Minimum | Networking equipment    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 5 years  
Minimum | Heavy equipment    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 10 years  
Minimum | Other equipment    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 3 years  
Maximum | Servers    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 6 years  
Maximum | Networking equipment    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 6 years  
Maximum | Heavy equipment    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 13 years  
Maximum | Other equipment    
Property, Plant and Equipment [Line Items]    
Estimated useful lives of assets 10 years  
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Leases (Details)
 12 Months Ended
Dec. 31, 2025
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
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Goodwill and Indefinite-Lived Intangible Assets (Details)
$ in Millions
Apr. 01, 2025
USD ($)
Accounting Policies [Abstract]  
Goodwill and indefinite-lived intangible asset impairment $ 0
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Digital Video and Music Content (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Weighted average remaining life, capitalized video content 3 years 2 months 12 days  
Video and music content, capitalized costs $ 21.3 $ 19.6
Video and music content, expense $ 22.4 $ 20.4
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended 18 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]                  
Payments to acquire convertible notes   $ 1,400   $ 1,300         $ 5,300
Cash equivalents and marketable securities   45,800       $ 45,800      
Reclassification adjustments for gains (losses) on available-for-sale debt securities, net     $ 2,300   $ 3,300 5,600 $ (7) $ (65)  
Upward adjustments relating to equity investments in private companies     $ 7,200     7,709 49 $ 40  
Equity investments in private companies   16,200       16,200 989   989
Reclassification adjustments for gains (losses) on available-for-sale debt securities           39,500      
Equity method investments   659       659 1,200   1,200
Subsequent event | Forecast                  
Schedule of Equity Method Investments [Line Items]                  
Reclassification adjustments for gains (losses) on available-for-sale debt securities, net $ 3,000                
Upward adjustments relating to equity investments in private companies $ 12,000                
Preferred Stock                  
Schedule of Equity Method Investments [Line Items]                  
Equity investments in private companies   14,800       14,800      
Fair Value, Inputs, Level 3                  
Schedule of Equity Method Investments [Line Items]                  
Cash equivalents and marketable securities             13,800   13,800
Equity Warrant | Level 2:                  
Schedule of Equity Method Investments [Line Items]                  
Fair value of warrants   $ 2,700       $ 2,700 $ 2,700   $ 2,700
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Accrued Expenses and Other (Details) - USD ($)
$ in Billions
Dec. 31, 2025
Dec. 31, 2024
Disaggregation of Revenue [Line Items]    
Payroll-related liabilities $ 10.5 $ 7.5
Customer liability 25.0 24.6
Gift card    
Disaggregation of Revenue [Line Items]    
Customer liability $ 5.6 $ 5.4
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Self-Insurance Liabilities (Details) - USD ($)
$ in Billions
Dec. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Self-insurance liabilities $ 10.4 $ 8.5
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Unearned Revenue (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Customer liability $ 25.0 $ 24.6
Unearned revenue, revenue recognized 17.4  
Unearned revenue, long-term 4.4 $ 6.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Remaining performance obligation, contracts exceeding one year $ 244.0  
Remaining performance obligation, weighted average remaining life 4 years 1 month 6 days  
v3.25.4
Description of Business, Accounting Policies, and Supplemental Disclosures - Foreign Currency (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]      
Transaction gain (loss) arising from intercompany foreign currency transactions $ (863) $ 413 $ (329)
v3.25.4
Financial Instruments - Fair Values on Recurring Basis (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale      
Cash equivalents and marketable securities $ 45,800    
Equity Securities, FV-NI, Gain (Loss)      
Equity securities, unrealized gain (loss) 1,200 $ (1,300) $ 1,000
Recurring      
Schedule of Investments [Line Items]      
Cash and time deposits 16,145 17,055  
Debt Securities, Available-for-sale      
Gross unrealized gains 66 6  
Gross unrealized losses (33) (121)  
Cash, Cash Equivalents, and Marketable Securities      
Cash, cash equivalents and marketable securities, amortized cost 122,605 101,532  
Cash, cash equivalents and marketable securities 126,325 104,735  
Less: Restricted cash, cash equivalents, and marketable securities (3,296) (3,533)  
Total cash, cash equivalents, and marketable securities 123,029 101,202  
Recurring | Level 1:      
Schedule of Investments [Line Items]      
Equity securities 3,687 3,318  
Recurring | Level 1: | Money market funds      
Schedule of Investments [Line Items]      
Money market funds 29,777 28,282  
Recurring | Level 2: | U.S. government and agency securities      
Debt Securities, Available-for-sale      
Fixed income securities, amortized cost 5,231 3,452  
Gross unrealized gains 8 1  
Gross unrealized losses (17) (52)  
Cash equivalents and marketable securities 5,222 3,401  
Recurring | Level 2: | Corporate debt securities      
Debt Securities, Available-for-sale      
Fixed income securities, amortized cost 69,542 50,959  
Gross unrealized gains 50 3  
Gross unrealized losses (7) (50)  
Cash equivalents and marketable securities 69,585 50,912  
Recurring | Level 2: | Asset-backed securities      
Debt Securities, Available-for-sale      
Fixed income securities, amortized cost 1,781 1,539  
Gross unrealized gains 8 2  
Gross unrealized losses (9) (18)  
Cash equivalents and marketable securities 1,780 1,523  
Recurring | Level 2: | Other financial instruments      
Debt Securities, Available-for-sale      
Fixed income securities, amortized cost 129 245  
Gross unrealized gains 0 0  
Gross unrealized losses 0 (1)  
Cash equivalents and marketable securities $ 129 $ 244  
v3.25.4
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, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]      
Realized gains $ 18 $ 3 $ 2
Realized losses $ 7 $ 10 $ 67
v3.25.4
Financial Instruments - Contractual Maturities (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Amortized Cost  
Due within one year $ 96,776
Due after one year through five years 8,217
Due after five years through ten years 501
Due after ten years 966
Total 106,460
Estimated Fair Value  
Due within one year 96,778
Due after one year through five years 8,264
Due after five years through ten years 501
Due after ten years 950
Total $ 106,493
v3.25.4
Financial Instruments - Reconciliation to Cash Flow (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]        
Cash and cash equivalents $ 86,810 $ 78,779    
Restricted cash included in accounts receivable, net and other 300 247    
Restricted cash included in other assets 2,996 3,286    
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 90,106 $ 82,312 $ 73,890 $ 54,253
v3.25.4
Property and Equipment - Components (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Gross property and equipment $ 534,098 $ 394,055
Total accumulated depreciation and amortization 177,073 141,390
Total property and equipment, net 357,025 252,665
Land and buildings    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 155,121 123,039
Servers and networking equipment    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 172,492 113,156
Heavy equipment    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 65,545 52,228
Other equipment    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 63,376 53,509
Other assets    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 5,819 5,487
Construction in progress    
Property, Plant and Equipment [Line Items]    
Gross property and equipment $ 71,745 $ 46,636
v3.25.4
Property and Equipment - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]      
Property and equipment acquired but not yet paid $ 27,000 $ 16,800  
Depreciation and amortization expense 41,860 32,067 $ 30,225
Amortization of lease assets $ 3,284 $ 3,866 $ 5,899
v3.25.4
Leases - Additional Information (Details) - USD ($)
$ in Billions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Finance lease asset location Property and equipment, net Property and equipment, net
Finance lease asset $ 55.6 $ 56.5
Accumulated amortization associated with finance leases $ 40.4 $ 41.8
v3.25.4
Leases - Lease Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Lease, Cost [Abstract]      
Operating lease cost $ 14,006 $ 11,961 $ 10,550
Finance lease cost:      
Amortization of lease assets 3,284 3,866 5,899
Interest on lease liabilities 312 285 304
Finance lease cost 3,596 4,151 6,203
Variable lease cost 2,694 2,465 2,165
Total lease cost $ 20,296 $ 18,577 $ 18,918
v3.25.4
Leases - Other Operating and Finance Lease Information (Details)
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Weighted-average remaining lease term – operating leases 10 years 10 years 7 months 6 days
Weighted-average remaining lease term – finance leases 12 years 7 months 6 days 11 years 10 months 24 days
Weighted-average discount rate – operating leases 3.70% 3.50%
Weighted-average discount rate – finance leases 3.40% 3.00%
v3.25.4
Leases - Operating and Finance Lease Reconciliation (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Operating Leases    
Total $ 106,914 $ 95,294
Less: imputed interest (17,662) (15,698)
Present value of lease liabilities 89,252 79,596
Less: current portion of lease liabilities (12,655) (10,546)
Total long-term lease liabilities $ 76,597 $ 69,050
Operating 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 Leases    
Total $ 14,917 $ 12,520
Less: imputed interest (2,631) (1,918)
Present value of lease liabilities 12,286 10,602
Less: current portion of lease liabilities (1,544) (1,375)
Total long-term lease liabilities $ 10,742 $ 9,227
Finance lease liabilities, current, location Accrued expenses and other Accrued expenses and other
Finance lease liabilities, long-term, location Long-term lease liabilities Long-term lease liabilities
Total    
Gross lease liabilities $ 121,831 $ 107,814
Less: imputed interest (20,293) (17,616)
Present value of lease liabilities 101,538 90,198
Current portion of lease liabilities (14,199) (11,921)
Long-term lease liabilities $ 87,339 $ 78,277
v3.25.4
Acquisitions, Goodwill, and Acquired Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 22, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Goodwill   $ 23,273 $ 23,074 $ 22,789
Amortization expense for acquired intangibles   $ 817 838 $ 706
1Life Healthcare        
Business Combination [Line Items]        
Aggregate purchase price $ 3,500      
Amount capitalized to in-process research and development intangible assets 1,300      
Goodwill $ 2,500      
Business Combination, Series of Individually Immaterial Business Combinations        
Business Combination [Line Items]        
Cash paid, net of cash acquired     $ 780  
v3.25.4
Acquisitions, Goodwill, and Acquired Intangible Assets - Summary of Goodwill Activity by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Goodwill, balance at beginning of period $ 23,074 $ 22,789
Acquisition activity 112 320
Other adjustments 87 (35)
Goodwill, balance at end of period 23,273 23,074
North America    
Goodwill [Roll Forward]    
Goodwill, balance at beginning of period 19,289 19,126
Acquisition activity 25 191
Other adjustments 49 (28)
Goodwill, balance at end of period 19,363 19,289
International    
Goodwill [Roll Forward]    
Goodwill, balance at beginning of period 2,485 2,412
Acquisition activity 85 77
Other adjustments 8 (4)
Goodwill, balance at end of period 2,578 2,485
AWS    
Goodwill [Roll Forward]    
Goodwill, balance at beginning of period 1,300 1,251
Acquisition activity 2 52
Other adjustments 30 (3)
Goodwill, balance at end of period $ 1,332 $ 1,300
v3.25.4
Acquisitions, Goodwill, and Acquired Intangible Assets - Acquired Intangible Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Acquired finite-lived intangible assets, gross $ 11,587 $ 10,406
Accumulated amortization (3,553) (2,967)
Acquired finite-lived intangible assets, net 8,034 7,439
Acquired indefinite-lived intangible assets - IPR&D and other 1,163 1,163
Acquired Intangibles, Gross 12,750 11,569
Acquired Intangibles, Net $ 9,197 8,602
Weighted Average Life Remaining 14 years 6 months  
Minimum    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Intangible assets, estimated useful life 1 year  
Maximum    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Intangible assets, estimated useful life 40 years  
Marketing-related    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Acquired finite-lived intangible assets, gross $ 2,402 2,629
Accumulated amortization (754) (860)
Acquired finite-lived intangible assets, net $ 1,648 1,769
Weighted Average Life Remaining 16 years 6 months  
Contract-based    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Acquired finite-lived intangible assets, gross $ 7,068 5,767
Accumulated amortization (1,957) (1,541)
Acquired finite-lived intangible assets, net $ 5,111 4,226
Weighted Average Life Remaining 16 years 7 months 6 days  
Technology- and content-based    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Acquired finite-lived intangible assets, gross $ 1,463 1,246
Accumulated amortization (605) (284)
Acquired finite-lived intangible assets, net $ 858 962
Weighted Average Life Remaining 3 years 1 month 6 days  
Customer-related    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Acquired finite-lived intangible assets, gross $ 654 764
Accumulated amortization (237) (282)
Acquired finite-lived intangible assets, net $ 417 $ 482
Weighted Average Life Remaining 5 years 2 months 12 days  
v3.25.4
Acquisitions, Goodwill, and Acquired Intangible Assets - Expected Future Amortization Expense of Acquired Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Year Ended December 31,    
2026 $ 1,085  
2027 962  
2028 764  
2029 690  
2030 593  
Thereafter 3,940  
Acquired finite-lived intangible assets, net $ 8,034 $ 7,439
v3.25.4
Debt - Additional Information (Details)
 1 Months Ended 9 Months Ended 12 Months Ended
Oct. 31, 2025
USD ($)
Oct. 31, 2024
extension
Nov. 30, 2023
USD ($)
Jan. 31, 2023
USD ($)
Sep. 30, 2024
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Apr. 30, 2025
USD ($)
Apr. 30, 2025
EUR (€)
Mar. 31, 2025
USD ($)
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]                      
Total face value of long-term debt           $ 68,836,000,000 $ 58,000,000,000        
Short-term borrowings outstanding           $ 455,000,000 151,000,000        
Term Loan | Loans Payable                      
Debt Instrument [Line Items]                      
Basis spread on variable rate       0.75%              
Issuance amount       $ 8,000,000,000.0              
Credit term       364 days              
Commercial Paper                      
Debt Instrument [Line Items]                      
Credit term           397 days          
Commercial paper, maximum borrowing capacity               $ 30,000,000,000.0 € 3,000,000,000.0 $ 20,000,000,000.0  
Commercial paper           $ 0 0        
The Credit Agreement | Credit Facility                      
Debt Instrument [Line Items]                      
Basis spread on variable rate     0.45%                
Commitment fee percentage     0.03%                
Maximum borrowing capacity     $ 15,000,000,000.0                
Short-term borrowings outstanding           $ 0 $ 0        
The Credit Agreement | Revolving Credit Facility | Credit Facility                      
Debt Instrument [Line Items]                      
Credit Agreement, additional term     1 year                
October 2025 Short Term Credit Agreement | Credit Facility                      
Debt Instrument [Line Items]                      
Basis spread on variable rate   0.45%                  
Commitment fee percentage   0.03%                  
Credit term 364 days                    
Maximum borrowing capacity $ 5,000,000,000.0                    
October 2024 Short-Term Credit Agreement | Credit Facility                      
Debt Instrument [Line Items]                      
Credit term   364 days                  
Credit Agreement, number of extensions | extension   1                  
Short Term Credit Agreement | Credit Facility                      
Debt Instrument [Line Items]                      
Credit term           364 days 364 days        
Short-term borrowings outstanding           $ 0 $ 0        
Senior Notes                      
Debt Instrument [Line Items]                      
Total face value of long-term debt           68,000,000,000.0          
Estimated fair value of notes           61,100,000,000 50,200,000,000        
Senior Notes | November 2025 Senior Unsecured Notes                      
Debt Instrument [Line Items]                      
Total face value of long-term debt           15,000,000,000 $ 0        
Issuance amount           15,000,000,000.0          
Credit Facility | October 2016 Revolving Credit Facility | Revolving Credit Facility                      
Debt Instrument [Line Items]                      
Basis spread on variable rate         1.25%            
Commitment fee percentage         0.45%            
Borrowings outstanding                     $ 682,000,000
Stated Interest Rates                     6.60%
Credit Facility | April 2018 Revolving Credit Facility | Letter of credit                      
Debt Instrument [Line Items]                      
Unused capacity           $ 9,500,000,000          
v3.25.4
Debt - Long-Term Debt Obligations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Total face value of long-term debt $ 68,836 $ 58,000
Less: current portion of long-term debt (2,748) (5,017)
Long-term debt 65,648 52,623
Senior Notes    
Debt Instrument [Line Items]    
Total face value of long-term debt 68,000  
Unamortized discount and issuance costs, net $ (440) (360)
Weighted average remaining lives term 14 years 1 month 6 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 $ 2,750 2,750
Weighted average remaining lives term 14 years 4 months 24 days  
Senior Notes | 2014 Notes issuance of $6.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.80%  
Effective Interest Rates 4.93%  
Senior Notes | 2014 Notes issuance of $6.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.95%  
Effective Interest Rates 5.12%  
Senior Notes | 2017 Notes issuance of $17.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 17,000  
Total face value of long-term debt $ 12,000 13,000
Weighted average remaining lives term 15 years 4 months 24 days  
Senior Notes | 2017 Notes issuance of $17.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.15%  
Effective Interest Rates 3.25%  
Senior Notes | 2017 Notes issuance of $17.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.25%  
Effective Interest Rates 4.33%  
Senior Notes | 2020 Notes issuance of $10.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 10,000  
Total face value of long-term debt $ 7,750 9,000
Weighted average remaining lives term 18 years 1 month 6 days  
Senior Notes | 2020 Notes issuance of $10.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 1.20%  
Effective Interest Rates 1.26%  
Senior Notes | 2020 Notes issuance of $10.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 2.70%  
Effective Interest Rates 2.77%  
Senior Notes | 2021 Notes issuance of $18.5 billion    
Debt Instrument [Line Items]    
Issuance amount $ 18,500  
Total face value of long-term debt $ 15,000 15,000
Weighted average remaining lives term 13 years 2 months 12 days  
Senior Notes | 2021 Notes issuance of $18.5 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 1.00%  
Effective Interest Rates 1.14%  
Senior Notes | 2021 Notes issuance of $18.5 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.25%  
Effective Interest Rates 3.31%  
Senior Notes | April 2022 Notes issuance of $12.8 billion    
Debt Instrument [Line Items]    
Issuance amount $ 12,800  
Total face value of long-term debt $ 9,750 11,250
Weighted average remaining lives term 13 years 9 months 18 days  
Senior Notes | April 2022 Notes issuance of $12.8 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.30%  
Effective Interest Rates 3.40%  
Senior Notes | April 2022 Notes issuance of $12.8 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.10%  
Effective Interest Rates 4.15%  
Senior Notes | December 2022 Notes issuance of $8.3 billion    
Debt Instrument [Line Items]    
Issuance amount $ 8,300  
Total face value of long-term debt $ 5,750 7,000
Weighted average remaining lives term 4 years 4 months 24 days  
Senior Notes | December 2022 Notes issuance of $8.3 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.55%  
Effective Interest Rates 4.61%  
Senior Notes | December 2022 Notes issuance of $8.3 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 4.70%  
Effective Interest Rates 4.74%  
Senior Notes | 2025 Notes issuance of $15.0 billion    
Debt Instrument [Line Items]    
Issuance amount $ 15,000  
Total face value of long-term debt $ 15,000 0
Weighted average remaining lives term 15 years 7 months 6 days  
Senior Notes | 2025 Notes issuance of $15.0 billion | Minimum    
Debt Instrument [Line Items]    
Stated Interest Rates 3.90%  
Effective Interest Rates 3.99%  
Senior Notes | 2025 Notes issuance of $15.0 billion | Maximum    
Debt Instrument [Line Items]    
Stated Interest Rates 5.55%  
Effective Interest Rates 5.62%  
Other long-term debt    
Debt Instrument [Line Items]    
Total face value of long-term debt $ 836 $ 0
v3.25.4
Debt - Future Principal Payment for Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Year Ended December 31,    
2026 $ 2,752  
2027 8,832  
2028 4,752  
2029 3,000  
2030 4,500  
Thereafter 45,000  
Long-term debt, total $ 68,836 $ 58,000
v3.25.4
Commitments and Contingencies - Principal Contractual Commitments Excluding Open Orders (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Long-term debt principal and interest        
2026 $ 5,201      
2027 11,250      
2028 6,891      
2029 4,993      
2030 6,381      
Thereafter 73,486      
Total 108,202      
Operating lease liabilities        
2026 15,380      
2027 13,186      
2028 12,140      
2029 10,911      
2030 9,710      
Thereafter 45,587      
Total 106,914 $ 95,294    
Finance lease liabilities, including interest        
2026 1,838      
2027 1,626      
2028 1,726      
2029 1,285      
2030 1,122      
Thereafter 7,320      
Total 14,917 12,520    
Financing obligations, including interest        
2026 577      
2027 582      
2028 592      
2029 601      
2030 612      
Thereafter 6,651      
Total 9,615      
Other commitments        
2026 2,956      
2027 1,578      
2028 1,120      
2029 1,000      
2030 988      
Thereafter 11,226      
Total 18,868      
Total commitments        
2026 51,666      
2027 46,259      
2028 36,084      
2029 32,019      
2030 32,153      
Thereafter 241,480      
Total 439,661      
Current financing obligations 358 312    
Noncurrent financing obligations $ 7,800 $ 7,100    
Weighted-average remaining term of financing obligations 15 years 16 years 1 month 6 days    
Weighted-average imputed interest rate of financing obligations 2.90% 3.10%    
Accrued tax contingencies $ 6,566 $ 6,485 $ 5,228 $ 4,002
Operating and Finance Leases, Lease Not Yet Commenced        
Leases not yet commenced and Unconditional purchase obligations        
2026 5,808      
2027 9,103      
2028 6,420      
2029 6,571      
2030 6,738      
Thereafter 61,733      
Total 96,373      
Long-Term Agreements to Acquire and License Digital Media Content, Procure Energy and License Software        
Leases not yet commenced and Unconditional purchase obligations        
2026 19,906      
2027 8,934      
2028 7,195      
2029 6,658      
2030 6,602      
Thereafter 35,477      
Total $ 84,772      
v3.25.4
Commitments and Contingencies - Legal Proceedings (Details)
€ in Millions, $ in Millions
 1 Months Ended
Jun. 30, 2025
complaint
Aug. 31, 2024
USD ($)
Apr. 30, 2024
USD ($)
Dec. 31, 2025
lawsuit
Sep. 30, 2025
EUR (€)
Mar. 31, 2023
USD ($)
Dec. 31, 2021
EUR (€)
Jul. 31, 2021
EUR (€)
Loss Contingencies [Line Items]                
Number of complaints | complaint 2              
CANADA                
Loss Contingencies [Line Items]                
Number of class action lawsuits in pre-certification | lawsuit       2        
United Kingdom                
Loss Contingencies [Line Items]                
Number of class action lawsuits certified | lawsuit       2        
United States                
Loss Contingencies [Line Items]                
Number of class action lawsuits in pre-certification | lawsuit       3        
Number of class action lawsuits certified | lawsuit       1        
Rensselaer Polytechnic Institute and CF Dynamic Advances LLC | Pending Litigation | Minimum                
Loss Contingencies [Line Items]                
Estimate of possible loss | $           $ 140    
Rensselaer Polytechnic Institute and CF Dynamic Advances LLC | Pending Litigation | Maximum                
Loss Contingencies [Line Items]                
Estimate of possible loss | $           $ 267    
Kove IO, Inc. | Settled Litigation                
Loss Contingencies [Line Items]                
Pre-judgment interest | $     $ 525          
Damages sought | $   $ 148            
Luxembourg National Commission Matter | Pending Litigation                
Loss Contingencies [Line Items]                
Estimate of possible loss | €               € 746
Italian Competition Authority Matter | Pending Litigation                
Loss Contingencies [Line Items]                
Estimate of possible loss | €         € 752   € 1,130  
v3.25.4
Stockholders' Equity - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Mar. 31, 2022
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    
Preferred stock, outstanding (in shares) 0 0    
Common shares outstanding plus underlying outstanding stock awards 11,000,000,000.0 10,900,000,000 10,800,000,000  
Repurchases of common stock (in shares) 0 0 0  
Amount remaining under repurchase program $ 6,100,000,000      
Net unrecognized compensation cost related to unvested stock-based compensation arrangements $ 16,900,000,000      
Compensation expense expected to be expensed in next twelve months expected to exceed, percentage 50.00%      
Net unrecognized compensation cost related to unvested stock-based compensation arrangements, weighted average recognition period (in years) 1 year      
Common stock available for future issuance to employees (in shares) 1,400,000,000      
March 2022 Program        
Class of Stock [Line Items]        
Stock repurchase, authorized amount       $ 10,000,000,000.0
Restricted Stock Units        
Class of Stock [Line Items]        
Fair value of units vested $ 30,000,000,000.0 $ 39,600,000,000 $ 17,600,000,000  
Minimum        
Class of Stock [Line Items]        
Award vesting period 2 years      
Maximum        
Class of Stock [Line Items]        
Award vesting period 5 years      
v3.25.4
Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 19,467 $ 22,011 $ 24,023
Tax benefits from stock-based compensation expense 4,400 5,000 5,400
Cost of sales      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 777 838 836
Fulfillment      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 2,703 2,973 3,090
Technology and infrastructure      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 10,871 12,150 13,434
Sales and marketing      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 3,445 4,084 4,623
General and administrative      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 1,671 $ 1,966 $ 2,040
v3.25.4
Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units - $ / shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of Units      
Beginning balance (in shares) 283.1 405.8 384.4
Units granted (in shares) 112.9 126.9 218.1
Units vested (in shares) (138.1) (209.7) (139.9)
Units forfeited (in shares) (35.4) (39.9) (56.8)
Ending balance (in shares) 222.5 283.1 405.8
Weighted Average Grant-Date Fair Value      
Beginning Balance (in dollars per share) $ 145 $ 125 $ 144
Units granted (in dollars per share) 200 183 106
Units vested (in dollars per share) 135 132 143
Units forfeited (in dollars per share) 157 133 135
Ending Balance (in dollars per share) $ 178 $ 145 $ 125
v3.25.4
Stockholders' Equity - Scheduled Vesting for Outstanding Restricted Stock Units (Details) - Restricted Stock Units - shares
shares in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Scheduled vesting — restricted stock units        
2026 (in shares) 110.4      
2027 (in shares) 69.9      
2028 (in shares) 30.7      
2029 (in shares) 9.8      
2030 (in shares) 0.8      
Thereafter (in shares) 0.9      
Total (in shares) 222.5 283.1 405.8 384.4
v3.25.4
Stockholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning Balance $ 285,970 $ 201,875
Ending Balance 411,065 285,970
Accumulated Other Comprehensive Income (Loss)    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning Balance (34) (3,040)
Ending Balance 28,230 (34)
Foreign currency translation adjustments    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning Balance (6,174) (2,841)
Foreign currency translation adjustments and other, net of tax 4,226 (3,333)
Ending Balance (1,948) (6,174)
Unrealized gains (losses) on available-for-sale debt securities    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning Balance 6,139 (205)
Change in net unrealized gains (losses), net of tax of $(2,086) and $(8,754) 28,304 6,339
Reclassification adjustment for net losses (gains) included in “Other income (expense), net,” net of tax of $(2) and $1,327 (4,273) 5
Ending Balance 30,170 6,139
Other    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning Balance 1 6
Foreign currency translation adjustments and other, net of tax 7 (5)
Ending Balance $ 8 $ 1
v3.25.4
Stockholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Foreign currency translation adjustments, tax $ 194 $ (226) $ 55
Unrealized gains (losses), tax 8,754 2,086 110
Other, tax (1) 1 (1)
Accumulated Other Comprehensive Income (Loss)      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss), tax (9,384) (1,762) 99
Foreign currency translation adjustments      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss), tax 98 292 66
Foreign currency translation adjustments, tax (194) 226  
Unrealized gains (losses) on available-for-sale debt securities      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss), tax (9,481) (2,054) 34
Unrealized gains (losses), tax (8,754) (2,086)  
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” tax 1,327 (2)  
Other      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss), tax (1) 0 $ (1)
Other, tax $ (1) $ 1  
v3.25.4
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Provision (benefit) for income taxes, net $ 19,087 $ 9,265 $ 7,120
Cash taxes paid, net of refunds 8,295 12,308 11,179
Income Taxes [Line Items]      
Accrued interest and penalties, net of federal income tax benefit, related to tax contingencies 400 316  
Interest and penalties expense (benefit), net of federal income tax benefit 84 $ 121 $ 91
Foreign Tax Jurisdiction, Other      
Income Taxes [Line Items]      
Net operating loss carryforwards $ 10,600    
v3.25.4
Income Taxes - Cash Paid for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
U.S. Federal $ 2,751 $ 7,630 $ 7,435
U.S. State 2,125 2,450 2,070
International 3,419 2,228 1,674
Total cash taxes paid, net of refunds $ 8,295 $ 12,308 $ 11,179
v3.25.4
Income Taxes - Components of Provision for Income Taxes, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
U.S. Federal:      
Current $ 1,220 $ 9,039 $ 8,652
Deferred 11,134 (4,101) (5,505)
Total 12,354 4,938 3,147
U.S. State:      
Current 2,067 2,109 2,158
Deferred 984 (453) (498)
Total 3,051 1,656 1,660
International:      
Current 4,330 2,765 2,186
Deferred (648) (94) 127
Total 3,682 2,671 2,313
Provision for income taxes, net $ 19,087 $ 9,265 $ 7,120
v3.25.4
Income Taxes - U.S. and International Components of Income Before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
U.S. $ 89,537 $ 61,947 $ 32,328
International 7,774 6,667 5,229
Income before income taxes $ 97,311 $ 68,614 $ 37,557
v3.25.4
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, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Income taxes computed at the federal statutory rate $ 20,435 $ 14,409 $ 7,887
Income taxes computed at the federal statutory rate, percent 21.00% 21.00% 21.00%
Tax credits:      
Research and development tax credits $ (2,403) $ (2,644) $ (2,196)
Research and development tax credits, percent (2.50%) (3.90%) (5.80%)
Foreign tax credits $ (642) $ (440) $ (558)
Foreign tax credits, percent (0.70%) (0.60%) (1.50%)
Other credits $ (139) $ (176) $ (185)
Other credits, percent (0.10%) (0.30%) (0.50%)
Effect of cross-border tax laws:      
Foreign income deduction $ (522) $ (2,379) $ (1,429)
Foreign income deduction, percent (0.50%) (3.50%) (3.80%)
Other effects of cross-border tax laws $ (271) $ (33) $ (18)
Other effects of cross-border tax laws, percent (0.30%) 0.00% 0.00%
Nontaxable and nondeductible items:      
Stock-based compensation $ (2,029) $ (2,236) $ 784
Stock-based compensation, percent (2.10%) (3.30%) 2.10%
Other nontaxable and nondeductible items $ 372 $ 158 $ 162
Other nontaxable and nondeductible items, percent 0.40% 0.30% 0.40%
Other $ 486 $ 33 $ 186
Other, percent 0.50% 0.00% 0.50%
State and local income taxes, net of federal effect $ 2,455 $ 1,321 $ 1,292
State and local income taxes, net of federal effect, percent 2.50% 1.90% 3.40%
Foreign tax effects $ 1,517 $ 1,150 $ 1,117
Foreign tax effects, percent 1.60% 1.70% 3.00%
Worldwide changes in prior period unrecognized tax benefits $ (172) $ 102 $ 78
Worldwide changes in prior period unrecognized tax benefits, percent (0.20%) 0.20% 0.20%
Provision for income taxes, net $ 19,087 $ 9,265 $ 7,120
Total, percent 19.60% 13.50% 19.00%
Excess tax expense (benefits) deficiency from stock-based compensation $ (2,600) $ (2,800) $ 519
v3.25.4
Income Taxes - Deferred Income Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Loss carryforwards U.S. - Federal/States $ 632 $ 692
Loss carryforwards - Foreign 2,936 2,687
Accrued liabilities, reserves, and other expenses 5,545 4,254
Stock-based compensation 4,295 4,089
Depreciation and amortization 1,503 1,133
Operating lease liabilities 23,596 20,921
Capitalized research and development 18,725 22,701
Other items 2,166 1,688
Tax credits 2,812 1,773
Total gross deferred tax assets 62,210 59,938
Less valuation allowance (5,560) (4,893)
Deferred tax assets, net of valuation allowances 56,650 55,045
Deferred tax liabilities:    
Depreciation and amortization (23,159) (16,240)
Operating lease assets (22,177) (19,517)
Assets held for investment (13,149) (2,133)
Other items (1,159) (1,190)
Net deferred tax assets, net of valuation allowances   $ 15,965
Net deferred tax liabilities, net of valuation allowances $ (2,994)  
v3.25.4
Income Taxes - Reconciliation of Income Tax Contingencies (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Gross tax contingencies – beginning of period $ 6,485 $ 5,228 $ 4,002
Gross increases to tax positions in prior periods 310 154 440
Gross decreases to tax positions in prior periods (1,180) (129) (38)
Gross increases to current period tax positions 1,292 1,392 1,009
Settlements with tax authorities (312) (9) (106)
Lapse of statute of limitations (29) (151) (79)
Gross tax contingencies - end of period 6,566 $ 6,485 $ 5,228
Tax contingencies, that if fully recognized, would decrease our effective tax rate $ 5,000    
v3.25.4
Segment Information - Additional Information (Details)
$ in Billions
 12 Months Ended
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting [Abstract]      
Number of operating segments | segment 3    
Number of reportable segments | segment 3    
United States      
Segment Reporting Information [Line Items]      
Property and equipment, net and operating leases | $ $ 321.9 $ 241.6 $ 196.0
Rest of world      
Segment Reporting Information [Line Items]      
Property and equipment, net and operating leases | $ $ 121.2 $ 87.2 $ 80.7
v3.25.4
Segment Information - Reportable Segments and Reconciliation to Consolidated Net Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Net sales $ 716,924 $ 637,959 $ 574,785
Operating expenses 636,949 569,366 537,933
Operating Income (Loss) 79,975 68,593 36,852
Total non-operating income 17,336 21 705
Provision for income taxes (19,087) (9,265) (7,120)
Equity-method investment activity, net of tax (554) (101) (12)
Net income 77,670 59,248 30,425
North America      
Segment Reporting Information [Line Items]      
Net sales 426,305 387,497 352,828
Operating expenses 396,686 362,530 337,951
Operating Income (Loss) 29,619 24,967 14,877
International      
Segment Reporting Information [Line Items]      
Net sales 161,894 142,906 131,200
Operating expenses 157,144 139,114 133,856
Operating Income (Loss) 4,750 3,792 (2,656)
AWS      
Segment Reporting Information [Line Items]      
Net sales 128,725 107,556 90,757
Operating expenses 83,119 67,722 66,126
Operating Income (Loss) $ 45,606 $ 39,834 $ 24,631
v3.25.4
Segment Information - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Net sales $ 716,924 $ 637,959 $ 574,785
Online stores      
Disaggregation of Revenue [Line Items]      
Net sales 269,287 247,029 231,872
Physical stores      
Disaggregation of Revenue [Line Items]      
Net sales 22,561 21,215 20,030
Third-party seller services      
Disaggregation of Revenue [Line Items]      
Net sales 172,162 156,146 140,053
Advertising services      
Disaggregation of Revenue [Line Items]      
Net sales 68,635 56,214 46,906
Subscription services      
Disaggregation of Revenue [Line Items]      
Net sales 49,619 44,374 40,209
AWS      
Disaggregation of Revenue [Line Items]      
Net sales 128,725 107,556 90,757
Other      
Disaggregation of Revenue [Line Items]      
Net sales $ 5,935 $ 5,425 $ 4,958
v3.25.4
Segment Information - Net Sales Attributed to Countries Representing Portion of Consolidated Net Sales (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Revenue Reconciling Item      
Net sales $ 716,924 $ 637,959 $ 574,785
United States      
Segment Reporting, Revenue Reconciling Item      
Net sales 489,657 438,015 395,637
Germany      
Segment Reporting, Revenue Reconciling Item      
Net sales 45,900 40,856 37,588
United Kingdom      
Segment Reporting, Revenue Reconciling Item      
Net sales 43,212 37,855 33,591
Japan      
Segment Reporting, Revenue Reconciling Item      
Net sales 30,688 27,401 26,002
Rest of world      
Segment Reporting, Revenue Reconciling Item      
Net sales $ 107,467 $ 93,832 $ 81,967
v3.25.4
Segment Information - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets $ 818,042 $ 624,894 $ 527,854
Operating Segments | North America      
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets 235,652 210,120 196,029
Operating Segments | International      
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets 81,984 69,487 69,718
Operating Segments | AWS      
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets 252,588 155,953 108,533
Corporate      
Segment Reporting, Asset Reconciling Item [Line Items]      
Total assets $ 247,818 $ 189,334 $ 153,574
v3.25.4
Segment Information - Reconciliation of Property and Equipment from Segments to Consolidated (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net $ 357,025 $ 252,665 $ 204,177
Operating Segments | North America      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net 122,043 103,041 93,632
Operating Segments | International      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net 30,632 25,618 24,357
Operating Segments | AWS      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net 190,055 110,683 72,701
Corporate      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Property and equipment, net $ 14,295 $ 13,323 $ 13,487
v3.25.4
Segment Information - Reconciliation of Property and Equipment Additions from Segments to Consolidated (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Property and equipment additions $ 142,352 $ 85,752 $ 48,344
Operating Segments | North America      
Segment Reporting Information [Line Items]      
Property and equipment additions 35,919 24,348 17,529
Operating Segments | International      
Segment Reporting Information [Line Items]      
Property and equipment additions 7,617 6,643 4,144
Operating Segments | AWS      
Segment Reporting Information [Line Items]      
Property and equipment additions 96,496 53,267 24,843
Operating Segments | AWS | Assets held under finance leases      
Segment Reporting Information [Line Items]      
Property and equipment additions 1,900 238 117
Operating Segments | AWS | Assets under financing obligations      
Segment Reporting Information [Line Items]      
Property and equipment additions 421 8 1
Operating Segments | North America and International | Assets held under finance leases      
Segment Reporting Information [Line Items]      
Property and equipment additions 1,000 616 525
Operating Segments | North America and International | Assets under financing obligations      
Segment Reporting Information [Line Items]      
Property and equipment additions 20 89 356
Corporate      
Segment Reporting Information [Line Items]      
Property and equipment additions $ 2,320 $ 1,494 $ 1,828
v3.25.4
Segment Information - Depreciation and Amortization Expense, by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Depreciation and amortization expense $ 41,860 $ 32,067 $ 30,225
North America      
Segment Reporting Information [Line Items]      
Depreciation and amortization expense 15,503 14,285 13,678
International      
Segment Reporting Information [Line Items]      
Depreciation and amortization expense 4,907 4,462 4,016
AWS      
Segment Reporting Information [Line Items]      
Depreciation and amortization expense $ 21,450 $ 13,320 $ 12,531