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SEC Filings

10-K
AMAZON COM INC filed this Form 10-K on 01/30/2013
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Note 7—OTHER LONG-TERM LIABILITIES

Our other long-term liabilities are summarized as follows (in millions):

 

     December 31,  
     2012      2011  

Long-term capital lease obligations

   $ 737       $ 598   

Long-term financing lease obligations (1)

     9         562   

Construction liabilities

     87         59   

Tax contingencies

     336         266   

Other (2)

     1,108         885   
  

 

 

    

 

 

 
   $ 2,277       $ 2,370   
  

 

 

    

 

 

 

 

(1) Long-term financing lease obligations related to our corporate headquarters leases are no longer included as we acquired the associated land and buildings in December 2012. See “Note 3 – Property and Equipment.”
(2) Primarily includes long-term deferred tax liabilities.

Capital Leases

Certain of our equipment, primarily related to technology infrastructure, and buildings have been acquired under capital leases. Long-term capital lease obligations are as follows (in millions):

 

     December 31,
2012
 

Gross capital lease obligations

   $ 1,342   

Less imputed interest

     (50
  

 

 

 

Present value of net minimum lease payments

     1,292   

Less current portion of capital lease obligation

     (555
  

 

 

 

Total long-term capital lease obligations

   $ 737   
  

 

 

 

Construction Liabilities

We capitalize construction in progress and record a corresponding long-term liability for build-to-suit lease agreements where we are considered the owner during the construction period for accounting purposes.

Tax Contingencies

We have recorded tax reserves for tax contingencies, inclusive of accrued interest and penalties, of approximately $336 million as of December 31, 2012, and $266 million as of December 31, 2011, for U.S. and foreign income taxes. These contingencies primarily relate to transfer pricing, state income taxes, and research and development credits. See “Note 11—Income Taxes” for discussion of tax contingencies.

The remainder of our long-term liabilities primarily includes deferred tax liabilities, unearned revenue, asset retirement obligations, and deferred rental liabilities.

Note 8—COMMITMENTS AND CONTINGENCIES

Commitments

We have entered into non-cancellable operating, capital, and financing leases for equipment and office, fulfillment center, and data center facilities. Rental expense under operating lease agreements was $541 million, $362 million, and $225 million for 2012, 2011, and 2010.

 

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