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SEC Filings

10-K
AMAZON COM INC filed this Form 10-K on 01/30/2013
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Amortization expense for acquired intangibles was $163 million, $149 million, and $105 million in 2012, 2011, and 2010. Expected future amortization expense of acquired intangible assets as of December 31, 2012 is as follows (in millions):

 

Year Ended December 31,

  

2013

   $ 159   

2014

     143   

2015

     126   

2016

     103   

2017

     82   

Thereafter

     112   
  

 

 

 
   $ 725   
  

 

 

 

Note 5—EQUITY-METHOD INVESTMENTS

Our equity-method investments include a 29% interest in LivingSocial. Summarized condensed financial information for this investee, as provided to us by LivingSocial, is as follows (in millions):

 

     Year Ended
December 31,
 
     2012     2011  

Statement of Operations:

    

Revenue

   $ 536      $ 250   

Operating expense

     862        669   

Impairment charge

     579        —     
  

 

 

   

 

 

 

Operating loss

     (905     (419

Net loss (1)

   $ (650   $ (499

 

(1) The difference between the operating loss and net loss for 2012 is primarily due to the recognition of non-operating, non-cash gains on previously held equity positions in companies that LivingSocial acquired during Q1 2012.

 

     December 31,  
     2012      2011  

Balance Sheet:

     

Current assets

   $ 76       $ 176   

Noncurrent assets

     218         271   

Current liabilities

     338         210   

Noncurrent liabilities

     14         32   

Mandatorily redeemable stock

     205         201   

LivingSocial tested its goodwill and certain long-lived assets for impairment based on certain triggering events. Although its goodwill impairment test is not complete as of the date of this filing, LivingSocial believes an impairment loss is probable and has provided to us its best estimate. Completion of this impairment test by LivingSocial may result in an adjustment to this estimate.

As of December 31, 2012, the book value of our LivingSocial investment was $52 million. The summarized financial information is included for the periods in which we held an equity method ownership interest.

 

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