SEATTLE--(BUSINESS WIRE)--Apr. 24, 2014--
Amazon.com, Inc. (NASDAQ:AMZN) today announced financial results for its
first quarter ended March 31, 2014.
Operating cash flow increased 26% to $5.35 billion for the trailing
twelve months, compared with $4.25 billion for the trailing twelve
months ended March 31, 2013. Free cash flow increased to $1.49 billion
for the trailing twelve months, compared with $177 million for the
trailing twelve months ended March 31, 2013. Free cash flow for the
trailing twelve months ended March 31, 2013 includes cash outflows for
purchases of corporate office space and property in Seattle, Washington,
of $1.4 billion.
Common shares outstanding plus shares underlying stock-based awards
totaled 476 million on March 31, 2014, compared with 471 million one
year ago.
Net sales increased 23% to $19.74 billion in the first quarter, compared
with $16.07 billion in first quarter 2013. Excluding the $10 million
favorable impact from year-over-year changes in foreign exchange rates
throughout the quarter, net sales grew 23% compared with first quarter
2013.
Operating income decreased 19% to $146 million in the first quarter,
compared with $181 million in first quarter 2013. The favorable impact
from year-over-year changes in foreign exchange rates throughout the
quarter on operating income was $18 million.
Net income increased to $108 million in the first quarter, or $0.23 per
diluted share, compared with $82 million, or $0.18 per diluted share, in
first quarter 2013.
“We get our energy from inventing on behalf of customers, and 2014 is
off to a kinetic start,” said Jeff Bezos, founder and CEO of
Amazon.com. “Our device team launched Fire TV, offering great content,
including our recently announced exclusive deal with HBO, and innovative
features like unified voice search, which we’re delighted is being
adopted by so many new partners, including Netflix, HBO Go, Hulu Plus,
Crackle and Showtime Anytime. The team is working hard to keep Fire TV
in stock. Our retail team launched Prime Pantry, a new option available
only to Prime members offering exclusive access to everyday essentials
in non-bulk sizes — ranging from breakfast foods and popular soft
drinks, to cleaning and personal care items. And, our AWS team
significantly lowered prices on EC2, S3 and RDS, saving AWS customers
hundreds of millions of dollars over the next several months alone.”
Highlights
-
Amazon introduced Fire TV, a tiny box that plugs into your HDTV for
easy and instant access to Netflix, Prime Instant Video, Hulu Plus,
WatchESPN, Showtime Anytime, low-cost video rentals, and much more,
offering an open ecosystem of over 200,000 movies and TV episodes.
Fire TV also provides access to games from EA, Disney, Gameloft,
Mojang, 2K, Amazon Game Studios, and more. The device offers voice
search (that actually works!) to instantly find movies and TV shows,
as well as the new ASAP feature which predicts the movies and TV
episodes customers will want to watch and prepares them for playback.
-
Amazon announced that HBO Go will become available for Fire TV,
targeting a launch by year-end.
-
With the launch of Fire TV, Amazon released new developer tools that
allow developers to quickly and easily optimize PC, console or Android
mobile apps and games for the new Fire TV. The new tools include
sample code, as well as documentation and guidelines to help
developers design and build living room experiences, including how to
manage the input for the Fire game controller and Fire TV remote.
-
Amazon Game Studios introduced Sev Zero, the Studios’
first game built from the ground up for Fire TV. Sev Zero combines
a fast-action third-person shooter experience with the calculated
strategy of tower defense gameplay for a fun, big screen experience.
-
Amazon announced that video streams on Prime Instant Video nearly
tripled year over year.
-
Amazon announced a content licensing agreement with HBO, making Prime
Instant Video the exclusive online-only subscription home for select
HBO programming, including The Sopranos, Six Feet Under, The
Wire, Big Love, Deadwood, Eastbound and
Down, Family Tree, Enlightened, Treme,
early seasons of Boardwalk Empire and True Blood, as
well as mini-series like Band of Brothers, John Adams,
and more. The first wave of content will arrive on Prime Instant Video
May 21.
-
In addition, Prime Instant Video is now the exclusive online-only
subscription home for FOX’s 24, BBC America’s Orphan Black,
FX’s The Americans, and MTV’s Teen Wolf.
-
Amazon introduced Prime Instant Video for the U.K. and Germany,
offering thousands of popular movies and TV episodes available for
unlimited streaming to Prime members. Prime members also continue to
receive unlimited One-Day Delivery on millions of items and access to
500,000 Kindle books to borrow from the Kindle Owners’ Lending Library.
-
Amazon Studios greenlit six original pilots for full seasons available
exclusively to Prime members — The After, Bosch, Gortimer Gibbon’s
Life on Normal Street, Mozart in the Jungle, Transparent and
Wishenpoof! will become the next Amazon Original Series following
rave customer reviews of the pilot episodes. In addition, Garry
Trudeau’s political series Alpha House will return for a second
season.
-
Amazon Studios announced it has greenlit two new pilots — the half
hour dramatic comedy The Cosmopolitans, from Whit Stillman, and
the one hour drama Hand of God from Executive Producers Marc
Forster, Ben Watkins, Ron Perlman, Brian Wilkins and Jeff King — for
its third pilot season debuting later this year on Amazon Instant
Video.
-
Amazon now offers U.S. fulfillment center tours open to the public.
Visit www.amazon.com/fctours for information on available tour
locations, dates and times.
-
Amazon introduced Prime Pantry, a new service available only to Prime
members offering exclusive access to low-priced everyday essentials in
everyday sizes. Available nationally, Prime customers can buy as much
or as little as they want and have items conveniently delivered to
their home. Selection includes popular soft drinks and bottled water,
a new range of paper and laundry products in popular pack sizes,
single boxes of breakfast cereal, potato chips, convenience-sized
personal care products and more. There’s a flat $5.99 delivery fee per
Prime Pantry box.
-
Amazon introduced Dash, an easy-to-use shopping device that allows
Prime Fresh customers, and their families, to effortlessly shop
hundreds of thousands of items — ranging from groceries to household
essentials — from anywhere in their home without having to browse the
AmazonFresh website or app. Dash works directly with a customer’s
AmazonFresh account — simply scan items or say the items you want and
Dash finds it for you using voice search that actually works.
-
Amazon Fashion and Shopbop are joining with Vogue and Born Free, a
private sector-led initiative with the sole objective of ending
mother-to-child HIV transmission by December 31, 2015, to create the
Born Free Collection. Amazon Fashion will sponsor the launch event and
support the initiative through on-site messaging and social
programming. The collaboration, featuring pieces for both women and
children from 22 notable female designers, is based on the works of
Kenyan-born, New York-based visual artist Wangechi Mutu and is
available exclusively on Shopbop. All profits from sales of the
Collection will benefit Born Free.
-
Amazon introduced Flow to the Amazon app for iPhone. Flow offers
customers a convenient way to search for products they need to restock
in their home without typing, scanning a barcode or taking a photo —
simply move your phone over packaged goods you need to restock and the
Amazon app recognizes the products and saves them in your search
history, where they can be added to the shopping cart or saved for
later.
-
The launch of Amazon Student on Amazon.co.uk was announced, offering
students six months of free Prime One-Day Delivery on millions of
items, including books, laptops, housewares, kitchen equipment and
more. At the end of the six-month free trial, students can convert to
a discounted Amazon Prime membership for just £39 per year — less than
half the standard cost of Amazon Prime.
-
Amazon.in continued its rapid pace of category expansion, launching
apparel, shoes, video games, music, luggage & bags, health & personal
care, and sports, fitness and outdoors stores.
-
Amazon Publishing announced the launch of a new German-language
publishing program under the Amazon Publishing umbrella. The European
Amazon Publishing team will acquire German-language fiction for
publication in Kindle and print editions available on Amazon.
-
Amazon announced that it has reached an agreement to acquire
comiXology, the company that revolutionized the digital comics reading
experience with their immersive Guided View technology and makes
discovering, buying, and reading comic books and graphic novels easier
and more fun than ever before. The acquisition is expected to close in
the second quarter of 2014.
-
Amazon Web Services (AWS) announced its 42nd price
reduction, lowering prices for Amazon Simple Storage Service (S3) by
an average of 51 percent, reducing Amazon Elastic Compute Cloud (EC2)
prices by up to 40 percent and lowering Amazon Relational Database
Service (RDS) prices by an average of 28 percent. To help customers
continue to optimize their costs, AWS also introduced Cost Explorer,
with advanced reporting, analytics and visualization tools that allow
customers to easily view their costs, analyze trends and identify
spending patterns.
-
AWS announced that all four of AWS’s infrastructure Regions in the
U.S., including AWS GovCloud (U.S.), have received a Department of
Defense (DoD) Provisional Authorization, which recognizes the ability
of AWS to meet the stringent security and compliance requirements to
run DoD applications. This certification simplifies and speeds the
process for DoD agencies to evaluate and adopt AWS, allowing more DoD
agencies to use AWS’s secure, compliant infrastructure.
-
AWS continued to expand the AWS Activate program, which helps startups
launch and quickly scale their businesses on AWS. With AWS credits,
training, support, forums, and exclusive offers from AWS partners, AWS
Activate makes it easy for new companies to join some of the world’s
fastest-growing startups who use AWS.
-
AWS announced the broad availability of Amazon WorkSpaces, a fully
managed desktop computing service in the cloud that allows end-users
to access the documents, applications and resources they need with the
device of their choice.
-
AWS announced the broad availability of Amazon AppStream, a service
that allows developers to stream resource-intensive
applications, such as 3D games or interactive HD applications, from
the cloud to a broad range of devices.
Financial Guidance
The following forward-looking statements reflect Amazon.com’s
expectations as of April 24, 2014, and are subject to substantial
uncertainty. Our results are inherently unpredictable and may be
materially affected by many factors, such as fluctuations in foreign
exchange rates, changes in global economic conditions and consumer
spending, world events, the rate of growth of the Internet and online
commerce, and the various factors detailed below.
Second Quarter 2014 Guidance
-
Net sales are expected to be between $18.1 billion and $19.8 billion,
or to grow between 15% and 26% compared with second quarter 2013.
-
Operating income (loss) is expected to be between $(455) million and
$(55) million, compared to $79 million in second quarter 2013.
-
This guidance includes approximately $455 million for stock-based
compensation and amortization of intangible assets, and it assumes,
among other things, that no additional business acquisitions,
investments, restructurings, or legal settlements are concluded and
that there are no further revisions to stock-based compensation
estimates.
A conference call will be webcast live today at 2 p.m. PT/5 p.m. ET, and
will be available for at least three months at www.amazon.com/ir. This
call will contain forward-looking statements and other material
information regarding the Company’s financial and operating results.
These forward-looking statements are inherently difficult to predict.
Actual results could differ materially for a variety of reasons,
including, in addition to the factors discussed above, the amount that
Amazon.com invests in new business opportunities and the timing of those
investments, the mix of products sold to customers, the mix of net sales
derived from products as compared with services, the extent to which we
owe income taxes, competition, management of growth, potential
fluctuations in operating results, international growth and expansion,
the outcomes of legal proceedings and claims, fulfillment and data
center optimization, risks of inventory management, seasonality, the
degree to which the Company enters into, maintains, and develops
commercial agreements, acquisitions and strategic transactions, payments
risks, and risks of fulfillment throughput and productivity. Other risks
and uncertainties include, among others, risks related to new products,
services, and technologies, system interruptions, government regulation
and taxation, and fraud. In addition, the current global economic
climate amplifies many of these risks. More information about factors
that potentially could affect Amazon.com’s financial results is included
in Amazon.com’s filings with the Securities and Exchange Commission
(“SEC”), including its most recent Annual Report on Form 10-K and
subsequent filings.
Our investor relations website is www.amazon.com/ir and we encourage
investors to use it as a way of easily finding information about us. We
promptly make available on this website, free of charge, the reports
that we file or furnish with the SEC, corporate governance information
(including our Code of Business Conduct and Ethics), and select press
releases and social media postings.
About Amazon.com
Amazon.com, Inc. (NASDAQ: AMZN), a Fortune 500 company based in Seattle,
opened on the World Wide Web in July 1995 and today offers Earth’s
Biggest Selection. Amazon.com, Inc. seeks to be Earth’s most
customer-centric company, where customers can find and discover anything
they might want to buy online, and endeavors to offer its customers the
lowest possible prices. Amazon.com and other sellers offer millions of
unique new, refurbished and used items in categories such as Books;
Movies, Music & Games; Digital Downloads; Electronics & Computers; Home
& Garden; Toys, Kids & Baby; Grocery; Apparel, Shoes & Jewelry; Health &
Beauty; Sports & Outdoors; and Tools, Auto & Industrial. Amazon Web
Services provides Amazon’s developer customers with access to
in-the-cloud infrastructure services based on Amazon’s own back-end
technology platform, which developers can use to enable virtually any
type of business. Amazon Fire TV is a tiny box that plugs into your HDTV
for easy and instant access to Netflix, Prime Instant Video, Hulu Plus,
WatchESPN, SHOWTIME, low-cost video rentals, and much more. Kindle
Paperwhite is the world’s best-selling and most advanced e-reader. It
features new display technology with higher contrast, the next
generation built-in light, a faster processor, the latest touch
technology, and exclusive new features designed from the ground up for
readers. Kindle, the lightest and smallest Kindle, features improved
fonts and faster page turns. The new Kindle Fire HDX features a stunning
exclusive 7” or 8.9” HDX display, a quad-core 2.2 GHz processor, 2x more
memory, and 11 hours of battery life, as well as exclusive new features
of Fire OS 3.0 including X-Ray for Music, Second Screen, Prime Instant
Video downloads, and the revolutionary new Mayday button. The all-new
Kindle Fire HD includes an HD display, high-performance processor and
dual speakers at a breakthrough price.
Amazon and its affiliates operate websites, including www.amazon.com,
www.amazon.co.uk, www.amazon.de, www.amazon.co.jp, www.amazon.fr,
www.amazon.ca, www.amazon.cn, www.amazon.it, www.amazon.es,
www.amazon.com.br, www.amazon.in, www.amazon.com.mx, and
www.amazon.com.au. As used herein, “Amazon.com,” “we,” “our” and similar
terms include Amazon.com, Inc., and its subsidiaries, unless the context
indicates otherwise.
|
AMAZON.COM, INC.
|
Consolidated Statements of Cash Flows
|
(in millions)
|
(unaudited)
|
|
|
|
Three Months Ended March 31,
|
|
Twelve Months Ended March 31,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
|
|
$
|
8,658
|
|
|
$
|
8,084
|
|
|
$
|
4,481
|
|
|
$
|
2,288
|
|
OPERATING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
108
|
|
|
82
|
|
|
299
|
|
|
(87
|
)
|
Adjustments to reconcile net income (loss) to net cash from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation of property and equipment, including internal-use
software and website development, and other amortization
|
|
1,010
|
|
|
700
|
|
|
3,563
|
|
|
2,402
|
|
Stock-based compensation
|
|
321
|
|
|
229
|
|
|
1,226
|
|
|
901
|
|
Other operating expense (income), net
|
|
35
|
|
|
31
|
|
|
117
|
|
|
139
|
|
Losses (gains) on sales of marketable securities, net
|
|
—
|
|
|
—
|
|
|
2
|
|
|
(7
|
)
|
Other expense (income), net
|
|
(50
|
)
|
|
68
|
|
|
48
|
|
|
306
|
|
Deferred income taxes
|
|
(185
|
)
|
|
(80
|
)
|
|
(261
|
)
|
|
(307
|
)
|
Excess tax benefits from stock-based compensation
|
|
(121
|
)
|
|
—
|
|
|
(199
|
)
|
|
(390
|
)
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventories
|
|
699
|
|
|
535
|
|
|
(1,245
|
)
|
|
(1,211
|
)
|
Accounts receivable, net and other
|
|
727
|
|
|
729
|
|
|
(849
|
)
|
|
(877
|
)
|
Accounts payable
|
|
(4,675
|
)
|
|
(4,187
|
)
|
|
1,400
|
|
|
2,141
|
|
Accrued expenses and other
|
|
(731
|
)
|
|
(703
|
)
|
|
708
|
|
|
864
|
|
Additions to unearned revenue
|
|
1,092
|
|
|
684
|
|
|
3,100
|
|
|
2,083
|
|
Amortization of previously unearned revenue
|
|
(732
|
)
|
|
(460
|
)
|
|
(2,564
|
)
|
|
(1,712
|
)
|
Net cash provided by (used in) operating activities
|
|
(2,502
|
)
|
|
(2,372
|
)
|
|
5,345
|
|
|
4,245
|
|
INVESTING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of property and equipment, including internal-use software
and website development
|
|
(1,080
|
)
|
|
(670
|
)
|
|
(3,854
|
)
|
|
(4,068
|
)
|
Acquisitions, net of cash acquired, and other
|
|
—
|
|
|
(103
|
)
|
|
(208
|
)
|
|
(798
|
)
|
Sales and maturities of marketable securities and other investments
|
|
593
|
|
|
599
|
|
|
2,299
|
|
|
3,098
|
|
Purchases of marketable securities and other investments
|
|
(437
|
)
|
|
(776
|
)
|
|
(2,487
|
)
|
|
(3,227
|
)
|
Net cash provided by (used in) investing activities
|
|
(924
|
)
|
|
(950
|
)
|
|
(4,250
|
)
|
|
(4,995
|
)
|
FINANCING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
Excess tax benefits from stock-based compensation
|
|
121
|
|
|
—
|
|
|
199
|
|
|
390
|
|
Proceeds from long-term debt and other
|
|
65
|
|
|
25
|
|
|
426
|
|
|
3,319
|
|
Repayments of long-term debt, capital lease, and finance lease
obligations
|
|
(361
|
)
|
|
(182
|
)
|
|
(1,182
|
)
|
|
(603
|
)
|
Net cash provided by (used in) financing activities
|
|
(175
|
)
|
|
(157
|
)
|
|
(557
|
)
|
|
3,106
|
|
Foreign-currency effect on cash and cash equivalents
|
|
17
|
|
|
(124
|
)
|
|
55
|
|
|
(163
|
)
|
Net increase (decrease) in cash and cash equivalents
|
|
(3,584
|
)
|
|
(3,603
|
)
|
|
593
|
|
|
2,193
|
|
CASH AND CASH EQUIVALENTS, END OF PERIOD
|
|
$
|
5,074
|
|
|
$
|
4,481
|
|
|
$
|
5,074
|
|
|
$
|
4,481
|
|
SUPPLEMENTAL CASH FLOW INFORMATION:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid for interest on long-term debt
|
|
$
|
18
|
|
|
$
|
13
|
|
|
$
|
102
|
|
|
$
|
37
|
|
Cash paid for income taxes (net of refunds)
|
|
38
|
|
|
86
|
|
|
121
|
|
|
179
|
|
Property and equipment acquired under capital leases
|
|
716
|
|
|
340
|
|
|
2,243
|
|
|
993
|
|
Property and equipment acquired under build-to-suit leases
|
|
126
|
|
|
150
|
|
|
852
|
|
|
163
|
|
|
AMAZON.COM, INC.
|
Consolidated Statements of Operations
|
(in millions, except per share data)
|
(unaudited)
|
|
|
|
Three Months Ended March 31,
|
|
|
2014
|
|
2013
|
Net product sales
|
|
$
|
15,705
|
|
|
$
|
13,271
|
|
Net services sales
|
|
4,036
|
|
|
2,799
|
|
Total net sales
|
|
19,741
|
|
|
16,070
|
|
Operating expenses (1):
|
|
|
|
|
|
|
Cost of sales
|
|
14,055
|
|
|
11,801
|
|
Fulfillment
|
|
2,317
|
|
|
1,796
|
|
Marketing
|
|
870
|
|
|
632
|
|
Technology and content
|
|
1,991
|
|
|
1,383
|
|
General and administrative
|
|
327
|
|
|
246
|
|
Other operating expense (income), net
|
|
35
|
|
|
31
|
|
Total operating expenses
|
|
19,595
|
|
|
15,889
|
|
Income from operations
|
|
146
|
|
|
181
|
|
Interest income
|
|
11
|
|
|
10
|
|
Interest expense
|
|
(42
|
)
|
|
(33
|
)
|
Other income (expense), net
|
|
5
|
|
|
(77
|
)
|
Total non-operating income (expense)
|
|
(26
|
)
|
|
(100
|
)
|
Income before income taxes
|
|
120
|
|
|
81
|
|
Benefit (provision) for income taxes
|
|
(73
|
)
|
|
18
|
|
Equity-method investment activity, net of tax
|
|
61
|
|
|
(17
|
)
|
Net income
|
|
$
|
108
|
|
|
$
|
82
|
|
Basic earnings per share
|
|
$
|
0.23
|
|
|
$
|
0.18
|
|
Diluted earnings per share
|
|
$
|
0.23
|
|
|
$
|
0.18
|
|
Weighted average shares used in computation of earnings per share:
|
|
|
|
|
|
|
Basic
|
|
460
|
|
|
455
|
|
Diluted
|
|
468
|
|
|
463
|
|
_____________
|
|
|
|
|
|
|
(1) Includes stock-based compensation as follows:
|
|
|
|
|
|
|
Fulfillment
|
|
$
|
81
|
|
|
$
|
61
|
|
Marketing
|
|
27
|
|
|
16
|
|
Technology and content
|
|
169
|
|
|
120
|
|
General and administrative
|
|
44
|
|
|
32
|
|
|
AMAZON.COM, INC.
|
Consolidated Statements of Comprehensive Income
|
(in millions)
|
(unaudited)
|
|
|
|
Three Months Ended March 31,
|
|
|
2014
|
|
2013
|
Net income
|
|
$
|
108
|
|
|
$
|
82
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
|
Foreign currency translation adjustments, net of tax of $0 and $(9)
|
|
27
|
|
|
(78
|
)
|
Net change in unrealized gains on available-for-sale securities:
|
|
|
|
|
|
|
Unrealized gains (losses), net of tax of $(1) and $1
|
|
1
|
|
|
(2
|
)
|
Reclassification adjustment for losses (gains) included in “Other
income (expense), net,” net of tax of $0 and $0
|
|
—
|
|
|
—
|
|
Net unrealized gains (losses) on available-for-sale securities
|
|
1
|
|
|
(2
|
)
|
Total other comprehensive income (loss)
|
|
28
|
|
|
(80
|
)
|
Comprehensive income
|
|
$
|
136
|
|
|
$
|
2
|
|
|
AMAZON.COM, INC.
|
Segment Information
|
(in millions)
|
(unaudited)
|
|
|
|
Three Months Ended March 31,
|
|
|
2014
|
|
2013
|
North America
|
|
|
|
|
|
|
Net sales
|
|
$
|
11,858
|
|
|
$
|
9,391
|
|
Segment operating expenses (1)
|
|
11,296
|
|
|
8,934
|
|
Segment operating income
|
|
$
|
562
|
|
|
$
|
457
|
|
International
|
|
|
|
|
|
|
Net sales
|
|
$
|
7,883
|
|
|
$
|
6,679
|
|
Segment operating expenses (1)
|
|
7,943
|
|
|
6,695
|
|
Segment operating income (loss)
|
|
$
|
(60
|
)
|
|
$
|
(16
|
)
|
Consolidated
|
|
|
|
|
|
|
Net sales
|
|
$
|
19,741
|
|
|
$
|
16,070
|
|
Segment operating expenses (1)
|
|
19,239
|
|
|
15,629
|
|
Segment operating income
|
|
502
|
|
|
441
|
|
Stock-based compensation
|
|
(321
|
)
|
|
(229
|
)
|
Other operating income (expense), net
|
|
(35
|
)
|
|
(31
|
)
|
Income from operations
|
|
146
|
|
|
181
|
|
Total non-operating income (expense)
|
|
(26
|
)
|
|
(100
|
)
|
Benefit (provision) for income taxes
|
|
(73
|
)
|
|
18
|
|
Equity-method investment activity, net of tax
|
|
61
|
|
|
(17
|
)
|
Net income
|
|
$
|
108
|
|
|
$
|
82
|
|
Segment Highlights:
|
|
|
|
|
|
|
Y/Y net sales growth:
|
|
|
|
|
|
|
North America
|
|
26
|
%
|
|
26
|
%
|
International
|
|
18
|
|
|
16
|
|
Consolidated
|
|
23
|
|
|
22
|
|
Y/Y segment operating income/loss growth (decline):
|
|
|
|
|
|
|
North America
|
|
23
|
%
|
|
31
|
%
|
International
|
|
269
|
|
|
(133
|
)
|
Consolidated
|
|
14
|
|
|
11
|
|
Net sales mix:
|
|
|
|
|
|
|
North America
|
|
60
|
%
|
|
58
|
%
|
International
|
|
40
|
|
|
42
|
|
|
|
100
|
%
|
|
100
|
%
|
______________________________
(1) Represents operating expenses, excluding stock-based compensation
and "Other operating expense (income), net," which are not allocated to
segments.
|
AMAZON.COM, INC.
|
Supplemental Net Sales Information
|
(in millions)
|
(unaudited)
|
|
|
|
Three Months Ended March 31,
|
|
|
2014
|
|
2013
|
Net Sales:
|
|
|
North America
|
|
|
|
|
|
|
Media
|
|
$
|
2,825
|
|
|
$
|
2,513
|
|
Electronics and other general merchandise
|
|
7,829
|
|
|
6,128
|
|
Other (1)
|
|
1,204
|
|
|
750
|
|
Total North America
|
|
$
|
11,858
|
|
|
$
|
9,391
|
|
International
|
|
|
|
|
|
|
Media
|
|
$
|
2,642
|
|
|
$
|
2,545
|
|
Electronics and other general merchandise
|
|
5,188
|
|
|
4,086
|
|
Other (1)
|
|
53
|
|
|
48
|
|
Total International
|
|
$
|
7,883
|
|
|
$
|
6,679
|
|
Consolidated
|
|
|
|
|
|
|
Media
|
|
$
|
5,467
|
|
|
$
|
5,058
|
|
Electronics and other general merchandise
|
|
13,017
|
|
|
10,214
|
|
Other (1)
|
|
1,257
|
|
|
798
|
|
Total consolidated
|
|
$
|
19,741
|
|
|
$
|
16,070
|
|
Year-over-year Percentage Growth:
|
|
|
|
|
|
|
North America
|
|
|
|
|
|
|
Media
|
|
12
|
%
|
|
14
|
%
|
Electronics and other general merchandise
|
|
28
|
|
|
28
|
|
Other
|
|
60
|
|
|
64
|
|
Total North America
|
|
26
|
|
|
26
|
|
International
|
|
|
|
|
|
|
Media
|
|
4
|
%
|
|
1
|
%
|
Electronics and other general merchandise
|
|
27
|
|
|
28
|
|
Other
|
|
13
|
|
|
14
|
|
Total International
|
|
18
|
|
|
16
|
|
Consolidated
|
|
|
|
|
|
|
Media
|
|
8
|
%
|
|
7
|
%
|
Electronics and other general merchandise
|
|
27
|
|
|
28
|
|
Other
|
|
58
|
|
|
59
|
|
Total consolidated
|
|
23
|
|
|
22
|
|
Year-over-year Percentage Growth:
|
|
|
|
|
|
|
Excluding the effect of exchange rates
|
|
|
|
|
|
|
International
|
|
|
|
|
|
|
Media
|
|
4
|
%
|
|
7
|
%
|
Electronics and other general merchandise
|
|
26
|
|
|
32
|
|
Other
|
|
11
|
|
|
18
|
|
Total International
|
|
18
|
|
|
21
|
|
Consolidated
|
|
|
|
|
|
|
Media
|
|
8
|
%
|
|
10
|
%
|
Electronics and other general merchandise
|
|
27
|
|
|
30
|
|
Other
|
|
58
|
|
|
60
|
|
Total consolidated
|
|
23
|
|
|
24
|
|
Consolidated Net Sales Mix:
|
|
|
|
|
|
|
Media
|
|
28
|
%
|
|
31
|
%
|
Electronics and other general merchandise
|
|
66
|
|
|
64
|
|
Other
|
|
6
|
|
|
5
|
|
Total consolidated
|
|
100
|
%
|
|
100
|
%
|
______________________________
(1) Includes sales from non-retail activities, such as AWS sales, which
are included in the North America segment, and advertising services and
our co-branded credit card agreements, which are included in both
segments.
|
AMAZON.COM, INC.
|
Consolidated Balance Sheets
|
(in millions, except per share data)
|
|
|
|
March 31,
2014
|
|
December 31,
2013
|
|
|
(unaudited)
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
5,074
|
|
|
$
|
8,658
|
|
Marketable securities
|
|
3,592
|
|
|
3,789
|
|
Inventories
|
|
6,716
|
|
|
7,411
|
|
Accounts receivable, net and other
|
|
3,945
|
|
|
4,767
|
|
Total current assets
|
|
19,327
|
|
|
24,625
|
|
Property and equipment, net
|
|
12,267
|
|
|
10,949
|
|
Goodwill
|
|
2,653
|
|
|
2,655
|
|
Other assets
|
|
2,117
|
|
|
1,930
|
|
Total assets
|
|
$
|
36,364
|
|
|
$
|
40,159
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
10,590
|
|
|
$
|
15,133
|
|
Accrued expenses and other
|
|
6,251
|
|
|
6,688
|
|
Unearned revenue
|
|
1,516
|
|
|
1,159
|
|
Total current liabilities
|
|
18,357
|
|
|
22,980
|
|
Long-term debt
|
|
3,147
|
|
|
3,191
|
|
Other long-term liabilities
|
|
4,532
|
|
|
4,242
|
|
Commitments and contingencies
|
|
|
|
|
|
|
Stockholders’ equity:
|
|
|
|
|
|
|
Preferred stock, $0.01 par value:
|
|
|
|
|
|
|
Authorized shares — 500
|
|
|
|
|
|
|
Issued and outstanding shares — none
|
|
—
|
|
|
—
|
|
Common stock, $0.01 par value:
|
|
|
|
|
|
|
Authorized shares — 5,000
|
|
|
|
|
|
|
Issued shares — 484 and 483
|
|
|
|
|
|
|
Outstanding shares — 460 and 459
|
|
5
|
|
|
5
|
|
Treasury stock, at cost
|
|
(1,837
|
)
|
|
(1,837
|
)
|
Additional paid-in capital
|
|
10,019
|
|
|
9,573
|
|
Accumulated other comprehensive loss
|
|
(157
|
)
|
|
(185
|
)
|
Retained earnings
|
|
2,298
|
|
|
2,190
|
|
Total stockholders’ equity
|
|
10,328
|
|
|
9,746
|
|
Total liabilities and stockholders’ equity
|
|
$
|
36,364
|
|
|
$
|
40,159
|
|
|
AMAZON.COM, INC.
|
Supplemental Financial Information and Business Metrics
|
(in millions, except per share data)
|
(unaudited)
|
|
|
|
Q1 2013
|
|
Q2 2013
|
|
Q3 2013
|
|
Q4 2013
|
|
Q1 2014
|
|
Y/Y %
Change
|
Cash Flows and Shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating cash flow -- trailing twelve months (TTM)
|
|
$
|
4,245
|
|
|
$
|
4,532
|
|
|
$
|
4,977
|
|
|
$
|
5,475
|
|
|
$
|
5,345
|
|
|
26
|
%
|
Purchases of property and equipment (incl. internal-use software &
website development) -- TTM
|
|
$
|
4,068
|
|
|
$
|
4,267
|
|
|
$
|
4,589
|
|
|
$
|
3,444
|
|
|
$
|
3,854
|
|
|
(5
|
)%
|
Free cash flow (operating cash flow less purchases of property and
equipment) -- TTM
|
|
$
|
177
|
|
|
$
|
265
|
|
|
$
|
388
|
|
|
$
|
2,031
|
|
|
$
|
1,491
|
|
|
744
|
%
|
Free cash flow -- TTM Y/Y growth (decline)
|
|
(85
|
)%
|
|
(76
|
)%
|
|
(63
|
)%
|
|
414
|
%
|
|
744
|
%
|
|
N/A
|
Invested capital (1)
|
|
$
|
12,019
|
|
|
$
|
13,115
|
|
|
$
|
14,306
|
|
|
$
|
15,749
|
|
|
$
|
16,681
|
|
|
39
|
%
|
Return on invested capital (2)
|
|
1
|
%
|
|
2
|
%
|
|
3
|
%
|
|
13
|
%
|
|
9
|
%
|
|
N/A
|
Common shares and stock-based awards outstanding
|
|
471
|
|
|
474
|
|
|
475
|
|
|
476
|
|
|
476
|
|
|
1
|
%
|
Common shares outstanding
|
|
455
|
|
|
457
|
|
|
458
|
|
|
459
|
|
|
460
|
|
|
1
|
%
|
Stock awards outstanding
|
|
16
|
|
|
17
|
|
|
17
|
|
|
17
|
|
|
16
|
|
|
3
|
%
|
Stock awards outstanding -- % of common shares outstanding
|
|
3.4
|
%
|
|
3.8
|
%
|
|
3.8
|
%
|
|
3.6
|
%
|
|
3.5
|
%
|
|
N/A
|
Results of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide (WW) net sales
|
|
$
|
16,070
|
|
|
$
|
15,704
|
|
|
$
|
17,092
|
|
|
$
|
25,587
|
|
|
$
|
19,741
|
|
|
23
|
%
|
WW net sales -- Y/Y growth, excluding F/X
|
|
24
|
%
|
|
25
|
%
|
|
26
|
%
|
|
22
|
%
|
|
23
|
%
|
|
N/A
|
WW net sales -- TTM
|
|
$
|
63,978
|
|
|
$
|
66,848
|
|
|
$
|
70,133
|
|
|
$
|
74,452
|
|
|
$
|
78,124
|
|
|
22
|
%
|
WW net sales -- TTM Y/Y growth, excluding F/X
|
|
27
|
%
|
|
25
|
%
|
|
25
|
%
|
|
24
|
%
|
|
24
|
%
|
|
N/A
|
Operating income (loss)
|
|
$
|
181
|
|
|
$
|
79
|
|
|
$
|
(25
|
)
|
|
$
|
510
|
|
|
$
|
146
|
|
|
(19
|
)%
|
Operating income -- Y/Y growth (decline), excluding F/X
|
|
1
|
%
|
|
(9
|
)%
|
|
(33
|
)%
|
|
24
|
%
|
|
(29
|
)%
|
|
N/A
|
Operating margin -- % of WW net sales
|
|
1.1
|
%
|
|
0.5
|
%
|
|
(0.1
|
)%
|
|
2.0
|
%
|
|
0.7
|
%
|
|
N/A
|
Operating income -- TTM
|
|
$
|
665
|
|
|
$
|
637
|
|
|
$
|
640
|
|
|
$
|
745
|
|
|
$
|
710
|
|
|
7
|
%
|
Operating income -- TTM Y/Y growth (decline), excluding F/X
|
|
(6
|
)%
|
|
3
|
%
|
|
27
|
%
|
|
14
|
%
|
|
7
|
%
|
|
N/A
|
Operating margin -- TTM % of WW net sales
|
|
1.0
|
%
|
|
1.0
|
%
|
|
0.9
|
%
|
|
1.0
|
%
|
|
0.9
|
%
|
|
N/A
|
Net income (loss)
|
|
$
|
82
|
|
|
$
|
(7
|
)
|
|
$
|
(41
|
)
|
|
$
|
239
|
|
|
$
|
108
|
|
|
31
|
%
|
Net income (loss) per diluted share
|
|
$
|
0.18
|
|
|
$
|
(0.02
|
)
|
|
$
|
(0.09
|
)
|
|
$
|
0.51
|
|
|
$
|
0.23
|
|
|
29
|
%
|
Net income (loss) -- TTM
|
|
$
|
(87
|
)
|
|
$
|
(101
|
)
|
|
$
|
132
|
|
|
$
|
274
|
|
|
$
|
299
|
|
|
N/A
|
Net income (loss) per diluted share -- TTM
|
|
$
|
(0.19
|
)
|
|
$
|
(0.22
|
)
|
|
$
|
0.28
|
|
|
$
|
0.59
|
|
|
$
|
0.64
|
|
|
N/A
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North America Segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
$
|
9,391
|
|
|
$
|
9,495
|
|
|
$
|
10,301
|
|
|
$
|
15,331
|
|
|
$
|
11,858
|
|
|
26
|
%
|
Net sales -- Y/Y growth, excluding F/X
|
|
26
|
%
|
|
30
|
%
|
|
31
|
%
|
|
26
|
%
|
|
26
|
%
|
|
N/A
|
Net sales -- TTM
|
|
$
|
36,777
|
|
|
$
|
38,945
|
|
|
$
|
41,361
|
|
|
$
|
44,517
|
|
|
$
|
46,984
|
|
|
28
|
%
|
Operating income
|
|
$
|
457
|
|
|
$
|
409
|
|
|
$
|
295
|
|
|
$
|
725
|
|
|
$
|
562
|
|
|
23
|
%
|
Operating margin -- % of North America net sales
|
|
4.9
|
%
|
|
4.3
|
%
|
|
2.9
|
%
|
|
4.7
|
%
|
|
4.7
|
%
|
|
N/A
|
Operating income -- TTM
|
|
$
|
1,700
|
|
|
$
|
1,766
|
|
|
$
|
1,770
|
|
|
$
|
1,886
|
|
|
$
|
1,992
|
|
|
17
|
%
|
Operating income -- TTM Y/Y growth, excluding F/X
|
|
72
|
%
|
|
58
|
%
|
|
40
|
%
|
|
18
|
%
|
|
17
|
%
|
|
N/A
|
Operating margin -- TTM % of North America net sales
|
|
4.6
|
%
|
|
4.5
|
%
|
|
4.3
|
%
|
|
4.2
|
%
|
|
4.2
|
%
|
|
N/A
|
International Segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
$
|
6,679
|
|
|
$
|
6,209
|
|
|
$
|
6,791
|
|
|
$
|
10,256
|
|
|
$
|
7,883
|
|
|
18
|
%
|
Net sales -- Y/Y growth, excluding F/X
|
|
21
|
%
|
|
20
|
%
|
|
20
|
%
|
|
15
|
%
|
|
18
|
%
|
|
N/A
|
Net sales -- TTM
|
|
$
|
27,201
|
|
|
$
|
27,903
|
|
|
$
|
28,772
|
|
|
$
|
29,935
|
|
|
$
|
31,140
|
|
|
14
|
%
|
Net sales -- TTM % of WW net sales
|
|
43
|
%
|
|
42
|
%
|
|
41
|
%
|
|
40
|
%
|
|
40
|
%
|
|
N/A
|
Operating income (loss)
|
|
$
|
(16
|
)
|
|
$
|
—
|
|
|
$
|
(28
|
)
|
|
$
|
151
|
|
|
$
|
(60
|
)
|
|
269
|
%
|
Operating margin -- % of International net sales
|
|
(0.2
|
)%
|
|
—
|
%
|
|
(0.4
|
)%
|
|
1.5
|
%
|
|
(0.8
|
)%
|
|
N/A
|
Operating income (loss) -- TTM
|
|
$
|
11
|
|
|
$
|
(6
|
)
|
|
$
|
25
|
|
|
$
|
107
|
|
|
$
|
63
|
|
|
493
|
%
|
Operating income/loss -- TTM Y/Y growth (decline), excluding F/X
|
|
(83
|
)%
|
|
(82
|
)%
|
|
(56
|
)%
|
|
106
|
%
|
|
770
|
%
|
|
N/A
|
Operating margin -- TTM % of International net sales
|
|
—
|
%
|
|
—
|
%
|
|
0.1
|
%
|
|
0.4
|
%
|
|
0.2
|
%
|
|
N/A
|
Consolidated Segments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses (3)
|
|
$
|
15,629
|
|
|
$
|
15,295
|
|
|
$
|
16,825
|
|
|
$
|
24,711
|
|
|
$
|
19,239
|
|
|
23
|
%
|
Operating expenses -- TTM (3)
|
|
$
|
62,267
|
|
|
$
|
65,087
|
|
|
$
|
68,338
|
|
|
$
|
72,459
|
|
|
$
|
76,069
|
|
|
22
|
%
|
Operating income
|
|
$
|
441
|
|
|
$
|
409
|
|
|
$
|
267
|
|
|
$
|
876
|
|
|
$
|
502
|
|
|
14
|
%
|
Operating margin -- % of Consolidated net sales
|
|
2.7
|
%
|
|
2.6
|
%
|
|
1.6
|
%
|
|
3.4
|
%
|
|
2.5
|
%
|
|
N/A
|
Operating income -- TTM
|
|
$
|
1,711
|
|
|
$
|
1,760
|
|
|
$
|
1,795
|
|
|
$
|
1,993
|
|
|
$
|
2,055
|
|
|
20
|
%
|
Operating income -- TTM Y/Y growth, excluding F/X
|
|
15
|
%
|
|
21
|
%
|
|
26
|
%
|
|
21
|
%
|
|
20
|
%
|
|
N/A
|
Operating margin -- TTM % of Consolidated net sales
|
|
2.7
|
%
|
|
2.6
|
%
|
|
2.6
|
%
|
|
2.7
|
%
|
|
2.6
|
%
|
|
N/A
|
|
AMAZON.COM, INC.
|
Supplemental Financial Information and Business Metrics
|
(in millions, except inventory turnover, accounts payable days
and employee data)
|
(unaudited)
|
|
|
|
Q1 2013
|
|
Q2 2013
|
|
Q3 2013
|
|
Q4 2013
|
|
Q1 2014
|
|
Y/Y %
Change
|
Supplemental
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental North America Segment Net Sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Media
|
|
$
|
2,513
|
|
|
$
|
2,173
|
|
|
$
|
2,609
|
|
|
$
|
3,513
|
|
|
$
|
2,825
|
|
|
12
|
%
|
Media -- Y/Y growth, excluding F/X
|
|
14
|
%
|
|
16
|
%
|
|
18
|
%
|
|
21
|
%
|
|
13
|
%
|
|
N/A
|
Media -- TTM
|
|
$
|
9,506
|
|
|
$
|
9,805
|
|
|
$
|
10,199
|
|
|
$
|
10,809
|
|
|
$
|
11,121
|
|
|
17
|
%
|
Electronics and other general merchandise
|
|
$
|
6,128
|
|
|
$
|
6,478
|
|
|
$
|
6,732
|
|
|
$
|
10,648
|
|
|
$
|
7,829
|
|
|
28
|
%
|
Electronics and other general merchandise -- Y/Y growth, excluding
F/X
|
|
28
|
%
|
|
31
|
%
|
|
33
|
%
|
|
25
|
%
|
|
28
|
%
|
|
N/A
|
Electronics and other general merchandise -- TTM
|
|
$
|
24,629
|
|
|
$
|
26,169
|
|
|
$
|
27,840
|
|
|
$
|
29,985
|
|
|
$
|
31,686
|
|
|
29
|
%
|
Electronics and other general merchandise -- TTM % of North America
net sales
|
|
67
|
%
|
|
67
|
%
|
|
67
|
%
|
|
67
|
%
|
|
67
|
%
|
|
N/A
|
Other
|
|
$
|
750
|
|
|
$
|
844
|
|
|
$
|
960
|
|
|
$
|
1,170
|
|
|
$
|
1,204
|
|
|
60
|
%
|
Other -- TTM
|
|
$
|
2,642
|
|
|
$
|
2,971
|
|
|
$
|
3,322
|
|
|
$
|
3,723
|
|
|
$
|
4,177
|
|
|
58
|
%
|
Supplemental International Segment Net Sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Media
|
|
$
|
2,545
|
|
|
$
|
2,224
|
|
|
$
|
2,424
|
|
|
$
|
3,714
|
|
|
$
|
2,642
|
|
|
4
|
%
|
Media -- Y/Y growth, excluding F/X
|
|
7
|
%
|
|
7
|
%
|
|
9
|
%
|
|
6
|
%
|
|
4
|
%
|
|
N/A
|
Media -- TTM
|
|
$
|
10,785
|
|
|
$
|
10,764
|
|
|
$
|
10,803
|
|
|
$
|
10,907
|
|
|
$
|
11,004
|
|
|
2
|
%
|
Electronics and other general merchandise
|
|
$
|
4,086
|
|
|
$
|
3,937
|
|
|
$
|
4,316
|
|
|
$
|
6,478
|
|
|
$
|
5,188
|
|
|
27
|
%
|
Electronics and other general merchandise -- Y/Y growth, excluding
F/X
|
|
32
|
%
|
|
29
|
%
|
|
28
|
%
|
|
21
|
%
|
|
26
|
%
|
|
N/A
|
Electronics and other general merchandise -- TTM
|
|
$
|
16,238
|
|
|
$
|
16,952
|
|
|
$
|
17,771
|
|
|
$
|
18,817
|
|
|
$
|
19,919
|
|
|
23
|
%
|
Electronics and other general merchandise -- TTM % of International
net sales
|
|
60
|
%
|
|
61
|
%
|
|
62
|
%
|
|
63
|
%
|
|
64
|
%
|
|
N/A
|
Other
|
|
$
|
48
|
|
|
$
|
48
|
|
|
$
|
51
|
|
|
$
|
64
|
|
|
$
|
53
|
|
|
13
|
%
|
Other -- TTM
|
|
$
|
178
|
|
|
$
|
187
|
|
|
$
|
198
|
|
|
$
|
211
|
|
|
$
|
217
|
|
|
22
|
%
|
Supplemental Worldwide Net Sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Media
|
|
$
|
5,058
|
|
|
$
|
4,397
|
|
|
$
|
5,033
|
|
|
$
|
7,227
|
|
|
$
|
5,467
|
|
|
8
|
%
|
Media -- Y/Y growth, excluding F/X
|
|
10
|
%
|
|
11
|
%
|
|
13
|
%
|
|
13
|
%
|
|
8
|
%
|
|
N/A
|
Media -- TTM
|
|
$
|
20,291
|
|
|
$
|
20,569
|
|
|
$
|
21,002
|
|
|
$
|
21,716
|
|
|
$
|
22,125
|
|
|
9
|
%
|
Electronics and other general merchandise
|
|
$
|
10,214
|
|
|
$
|
10,415
|
|
|
$
|
11,048
|
|
|
$
|
17,126
|
|
|
$
|
13,017
|
|
|
27
|
%
|
Electronics and other general merchandise -- Y/Y growth, excluding
F/X
|
|
30
|
%
|
|
30
|
%
|
|
31
|
%
|
|
24
|
%
|
|
27
|
%
|
|
N/A
|
Electronics and other general merchandise -- TTM
|
|
$
|
40,867
|
|
|
$
|
43,121
|
|
|
$
|
45,611
|
|
|
$
|
48,802
|
|
|
$
|
51,605
|
|
|
26
|
%
|
Electronics and other general merchandise -- TTM % of WW net sales
|
|
64
|
%
|
|
65
|
%
|
|
65
|
%
|
|
66
|
%
|
|
66
|
%
|
|
N/A
|
Other
|
|
$
|
798
|
|
|
$
|
892
|
|
|
$
|
1,011
|
|
|
$
|
1,234
|
|
|
$
|
1,257
|
|
|
58
|
%
|
Other -- TTM
|
|
$
|
2,820
|
|
|
$
|
3,158
|
|
|
$
|
3,520
|
|
|
$
|
3,934
|
|
|
$
|
4,394
|
|
|
56
|
%
|
Balance Sheet
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and marketable securities
|
|
$
|
7,895
|
|
|
$
|
7,463
|
|
|
$
|
7,689
|
|
|
$
|
12,447
|
|
|
$
|
8,666
|
|
|
10
|
%
|
Inventory, net -- ending
|
|
$
|
5,395
|
|
|
$
|
5,420
|
|
|
$
|
6,068
|
|
|
$
|
7,411
|
|
|
$
|
6,716
|
|
|
24
|
%
|
Inventory turnover, average -- TTM
|
|
9.5
|
|
|
9.4
|
|
|
9.2
|
|
|
8.9
|
|
|
9.1
|
|
|
(4
|
)%
|
Property and equipment, net
|
|
$
|
7,674
|
|
|
$
|
8,789
|
|
|
$
|
9,991
|
|
|
$
|
10,949
|
|
|
$
|
12,267
|
|
|
60
|
%
|
Accounts payable -- ending
|
|
$
|
8,916
|
|
|
$
|
8,990
|
|
|
$
|
10,037
|
|
|
$
|
15,133
|
|
|
$
|
10,590
|
|
|
19
|
%
|
Accounts payable days -- ending
|
|
68
|
|
|
73
|
|
|
75
|
|
|
74
|
|
|
68
|
|
|
—
|
%
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WW shipping revenue
|
|
$
|
633
|
|
|
$
|
646
|
|
|
$
|
721
|
|
|
$
|
1,137
|
|
|
$
|
849
|
|
|
34
|
%
|
WW shipping costs
|
|
$
|
1,396
|
|
|
$
|
1,364
|
|
|
$
|
1,532
|
|
|
$
|
2,344
|
|
|
$
|
1,829
|
|
|
31
|
%
|
WW net shipping costs
|
|
$
|
763
|
|
|
$
|
718
|
|
|
$
|
811
|
|
|
$
|
1,207
|
|
|
$
|
980
|
|
|
28
|
%
|
WW net shipping costs -- % of WW net sales
|
|
4.7
|
%
|
|
4.6
|
%
|
|
4.7
|
%
|
|
4.7
|
%
|
|
5.0
|
%
|
|
N/A
|
Employees (full-time and part-time; excludes contractors & temporary
personnel)
|
|
91,300
|
|
|
97,000
|
|
|
109,800
|
|
|
117,300
|
|
|
124,600
|
|
|
36
|
%
|
|
______________________________
|
(1) Average Total Assets minus Current Liabilities (excluding
current portion of Long-Term Debt) over five quarter ends.
|
(2) TTM Free Cash Flow divided by Invested Capital.
|
(3) Represents cost of sales, fulfillment, marketing, technology
and content, and general and administrative operating expenses,
excluding stock-based compensation.
|
|
Amazon.com, Inc.
Certain Definitions
Customer Accounts
-
References to customers mean customer accounts, which are unique
e-mail addresses, established either when a customer places an order
or when a customer orders from other sellers on our websites. Customer
accounts exclude certain customers, including customers associated
with certain of our acquisitions, Amazon Payments customers, Amazon
Web Services customers, and the customers of select companies with
whom we have a technology alliance or marketing and promotional
relationship. Customers are considered active when they have placed an
order during the preceding twelve-month period.
Seller Accounts
-
References to sellers means seller accounts, which are established
when a seller receives an order from a customer account. Sellers are
considered active when they have received an order from a customer
during the preceding twelve-month period.
Registered Developers
-
References to registered developers mean cumulative registered
developer accounts, which are established when potential developers
enroll with Amazon Web Services and receive a developer access key.
Units
-
References to units mean physical and digital units sold (net of
returns and cancellations) by us and sellers at Amazon domains
worldwide — for example www.amazon.com, www.amazon.co.uk,
www.amazon.de, www.amazon.co.jp, www.amazon.fr, www.amazon.ca,
www.amazon.cn, www.amazon.it, www.amazon.es, www.amazon.com.br,
www.amazon.in, www.amazon.com.mx, www.amazon.com.au, www.diapers.com,
www.shopbop.com and www.zappos.com — as well as Amazon-owned items
sold through non-Amazon domains. Units sold are paid units and do not
include units associated with certain acquisitions, rental businesses,
web services or advertising businesses, or Amazon gift certificates.

Source: Amazon.com, Inc.
Amazon.com Investor Relations Dave Fildes, 206-266-2171 www.amazon.com/ir or Amazon.com
Public Relations Ty Rogers, 206-266-7180 www.amazon.com/pr
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