Amazon.com Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>Amazon.com Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

AMAZON COM INC (AMZN) filed a Annual Report (10-K) with the SEC on February 2, 2024. Amazon.com Inc. filed its 2023 Form 10-K with the SEC on February 2, 2024. The filing covers the fiscal year ending December 31, 2023. Amazon's principal business is retail catalog and mail-order houses (SIC 5961). The company is incorporated in Delaware. The filing includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking AMAZON COM INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Amazon's financial health, operational segments, and strategic direction for investors and analysts. The detailed financial statements and risk factors within the report are crucial for understanding the company's performance and future outlook in the retail and cloud computing sectors.

Risk Assessment

Risk Level: medium — AMAZON COM INC shows moderate risk based on this filing. The filing is a standard annual report, but the sheer scale and complexity of Amazon's operations across multiple industries (e-commerce, cloud, advertising) present inherent risks that are detailed within the report.

Analyst Insight

Review the detailed financial statements and segment performance in the 10-K to assess Amazon's growth trajectory and profitability across its diverse business units.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-02 — Filing Date (Date of submission)
• 5961 — SIC Code (Standard Industrial Classification for retail-catalog & mail-order houses)

Key Players & Entities

• AMAZON COM INC (company) — Filer name
• AMZN (company) — Ticker symbol
• 2024-02-02 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• SEATTLE (location) — Business address city
• DE (location) — State of incorporation

Forward-Looking Statements

• Amazon will continue to focus on its core retail and cloud services, with potential for further expansion into new markets. (AMAZON COM INC) — high confidence, target: 2024-12-31

FAQ

Industry Context

Amazon operates primarily in the retail catalog and mail-order houses sector, but its business is highly diversified across e-commerce, cloud computing (AWS), digital advertising, and streaming services.

Regulatory Implications

The filing is a standard annual report (10-K) required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze Amazon's revenue streams and growth rates for its various segments (e.g., online stores, AWS, advertising) as detailed in the full 10-K.
2. Examine the company's balance sheet and cash flow statements to assess its financial health and liquidity.
3. Review the risk factors section for potential challenges and uncertainties impacting Amazon's future operations and profitability.

Year-Over-Year Comparison

This is the initial extraction of the 2023 10-K filing. Comparative data from previous filings would be found within the document itself.

Filing Documents

• amzn-20231231.htm (10-K) — 1900KB
• amzn-20231231xex107.htm (EX-10.7) — 69KB
• amzn-20231231xex211.htm (EX-21.1) — 13KB
• amzn-20231231xex231.htm (EX-23.1) — 7KB
• amzn-20231231xex311.htm (EX-31.1) — 8KB
• amzn-20231231xex312.htm (EX-31.2) — 8KB
• amzn-20231231xex321.htm (EX-32.1) — 4KB
• amzn-20231231xex322.htm (EX-32.2) — 4KB
• amzn-20231231xex971.htm (EX-97.1) — 4KB
• 0001018724-24-000008.txt (&nbsp;) — 11827KB
• amzn-20231231.xsd (EX-101.SCH) — 87KB
• amzn-20231231_cal.xml (EX-101.CAL) — 190KB
• amzn-20231231_def.xml (EX-101.DEF) — 342KB
• amzn-20231231_lab.xml (EX-101.LAB) — 1105KB
• amzn-20231231_pre.xml (EX-101.PRE) — 694KB
• amzn-20231231_htm.xml (XML) — 1876KB

Risk Factors

Item 1A. Risk Factors 6

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 16

Cybersecurity

Item 1C. Cybersecurity 16

Properties

Item 2. Properties 18

Legal Proceedings

Item 3. Legal Proceedings 18

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 18 PART II

Market for the Registrant's Common Stock, Related Shareholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for the Registrant's Common Stock, Related Shareholder Matters, and Issuer Purchases of Equity Securities 19

Reserved

Item 6. Reserved 19

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 32

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 34

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 71

Controls and Procedures

Item 9A. Controls and Procedures 71

Other Information

Item 9B. Other Information 73

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 73 PART III

Directors, Executive Officers, and Corporate Governance

Item 10. Directors, Executive Officers, and Corporate Governance 73

Executive Compensation

Item 11. Executive Compensation 73

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 73

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 74

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 74 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 75

Form 10-K Summary

Item 16. Form 10-K Summary 77

Signatures

Signatures 78 2 Table of Contents AMAZON.COM, INC. PART I

Business

Item 1. Business This Annual Report on Form 10-K and the documents incorporated herein by reference contain forward-looking statements based on expectations, estimates, and projections as of the date of this filing. Actual results and outcomes may differ materially from those expressed in forward-looking statements. See Item 1A of Part I — "Risk Factors." As used herein, "Amazon.com," "we," "our," and similar terms include Amazon.com, Inc. and its subsidiaries, unless the context indicates otherwise. General We seek to be Earth's most customer-centric company. We are guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. In each of our segments, we serve our primary customer sets, consisting of consumers, sellers, developers, enterprises, content creators, advertisers, and employees. We have organized our operations into three segments: North America, International, and Amazon Web Services ("AWS"). These segments reflect the way the Company evaluates its business performance and manages its operations. Information on our net sales is contained in Item 8 of Part II, "Financial Statements and Supplementary Data — Note 10 — Segment Information." Consumers We serve consumers through our online and physical stores and focus on selection, price, and convenience. We design our stores to enable hundreds of millions of unique products to be sold by us and by third parties across dozens of product categories. Customers access our offerings through our websites, mobile apps, Alexa, devices, streaming, and physically visiting our stores. We also manufacture and sell electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and we develop and produce media content. We seek to offer our customers low prices, fast and free delivery, easy-to-use functionality, and timely customer service. In addition, we offer subscription services such as

Risk Factors

Item 1A. Risk Factors Please carefully consider the following discussion of significant factors, events, and uncertainties that make an investment in our securities risky. The events and consequences discussed in these risk factors could, in circumstances we may or may not be able to accurately predict, recognize, or control, have a material adverse effect on our business, growth, reputation, prospects, financial condition, operating results (including components of our financial results), cash flows, liquidity, and stock price. These risk factors do not identify all risks that we face; our operations could also be affected by factors, events, or uncertainties that are not presently known to us or that we currently do not consider to present significant risks to our operations. In addition to the factors discussed in Item 7 of Part II, "Management's Discussion and Analysis of Financial Condition and Results of Operations," and in the risk factors below, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of the risks discussed below. Many of the risks discussed below also impact our customers, including third-party sellers, which could indirectly have a material adverse effect on us. Business and Industry Risks We Face Intense Competition Our businesses are rapidly evolving and intensely competitive, and we have many competitors across geographies, including cross-border competition, and in different industries, including physical, e-commerce, and omnichannel retail, e-commerce services, web and infrastructure computing services, electronic devices, digital content, advertising, grocery, and transportation and logistics services. Some of our current and potential competitors have greater resources, longer histories, more customers, and/or greater brand recognition, particularly with our newly-launched products and services and in our newer geographic regions. They may s

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View this 10-K filing on SEC EDGAR