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Segment Information | 12 Months Ended
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Dec. 31, 2024
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 (loss) is as follows (in millions):
| Year Ended December 31,
| 2022 |  | 2023 |  | 2024
North America |  |  |  |  |
Net sales | $ | 315,880 |  |  | $ | 352,828 |  |  | $ | 387,497 |
Operating expenses | 318,727 |  |  | 337,951 |  |  | 362,530 |
Operating income (loss) | $ | (2,847) |  |  | $ | 14,877 |  |  | $ | 24,967 |
International |  |  |  |  |
Net sales | $ | 118,007 |  |  | $ | 131,200 |  |  | $ | 142,906 |
Operating expenses | 125,753 |  |  | 133,856 |  |  | 139,114 |
Operating income (loss) | $ | (7,746) |  |  | $ | (2,656) |  |  | $ | 3,792 |
AWS |  |  |  |  |
Net sales | $ | 80,096 |  |  | $ | 90,757 |  |  | $ | 107,556 |
Operating expenses | 57,255 |  |  | 66,126 |  |  | 67,722 |
Operating income | $ | 22,841 |  |  | $ | 24,631 |  |  | $ | 39,834 |
Consolidated |  |  |  |  |
Net sales | $ | 513,983 |  |  | $ | 574,785 |  |  | $ | 637,959 |
Operating expenses | 501,735 |  |  | 537,933 |  |  | 569,366 |
Operating income | 12,248 |  |  | 36,852 |  |  | 68,593 |
Total non-operating income (expense) | (18,184) |  |  | 705 |  |  | 21 |
Benefit (provision) for income taxes | 3,217 |  |  | (7,120) |  |  | (9,265) |
Equity-method investment activity, net of tax | (3) |  |  | (12) |  |  | (101) |
Net income (loss) | $ | (2,722) |  |  | $ | 30,425 |  |  | $ | 59,248 |
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):
| Year Ended December 31,
| 2022 |  | 2023 |  | 2024
Net Sales: |  |  |  |  |
Online stores (1) | $ | 220,004 |  |  | $ | 231,872 |  |  | $ | 247,029 |
Physical stores (2) | 18,963 |  |  | 20,030 |  |  | 21,215 |
Third-party seller services (3) | 117,716 |  |  | 140,053 |  |  | 156,146 |
Advertising services (4) | 37,739 |  |  | 46,906 |  |  | 56,214 |
Subscription services (5) | 35,218 |  |  | 40,209 |  |  | 44,374 |
AWS | 80,096 |  |  | 90,757 |  |  | 107,556 |
Other (6) | 4,247 |  |  | 4,958 |  |  | 5,425 |
Consolidated | $ | 513,983 |  |  | $ | 574,785 |  |  | $ | 637,959 |
___________________ (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 healthcare services, certain licensing and distribution of video content, and shipping services, 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,
| 2022 |  | 2023 |  | 2024
United States | $ | 356,113 |  |  | $ | 395,637 |  |  | $ | 438,015 |
Germany | 33,598 |  |  | 37,588 |  |  | 40,856 |
United Kingdom | 30,074 |  |  | 33,591 |  |  | 37,855 |
Japan | 24,396 |  |  | 26,002 |  |  | 27,401 |
Rest of world | 69,802 |  |  | 81,967 |  |  | 93,832 |
Consolidated | $ | 513,983 |  |  | $ | 574,785 |  |  | $ | 637,959 |
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 are allocated among the segments based on usage, with the majority allocated to the AWS segment. Total segment assets reconciled to consolidated amounts are as follows (in millions):
| December 31,
| 2022 |  | 2023 |  | 2024
North America (1) | $ | 185,268 |  |  | $ | 196,029 |  |  | $ | 210,120 |
International (1) | 64,666 |  |  | 69,718 |  |  | 69,487 |
AWS (2) | 88,491 |  |  | 108,533 |  |  | 155,953 |
Corporate | 124,250 |  |  | 153,574 |  |  | 189,334 |
Consolidated | $ | 462,675 |  |  | $ | 527,854 |  |  | $ | 624,894 |
___________________ (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,
| 2022 |  | 2023 |  | 2024
North America | $ | 90,076 |  |  | $ | 93,632 |  |  | $ | 103,041 |
International | 23,347 |  |  | 24,357 |  |  | 25,618 |
AWS | 60,324 |  |  | 72,701 |  |  | 110,683 |
Corporate | 12,968 |  |  | 13,487 |  |  | 13,323 |
Consolidated | $ | 186,715 |  |  | $ | 204,177 |  |  | $ | 252,665 |
Total net additions to property and equipment include technology infrastructure assets, which are allocated among the segments based on usage, with the majority allocated to the AWS segment. Total net additions to property and equipment include the effect of non-cash activity such as property and equipment acquired but not yet paid for. Total net additions to property and equipment are as follows (in millions):
| Year Ended December 31,
| 2022 |  | 2023 |  | 2024
North America (1) | $ | 23,682 |  |  | $ | 17,529 |  |  | $ | 24,348 |
International (1) | 6,711 |  |  | 4,144 |  |  | 6,643 |
AWS (2) | 27,755 |  |  | 24,843 |  |  | 53,267 |
Corporate | 2,688 |  |  | 1,828 |  |  | 1,494 |
Consolidated | $ | 60,836 |  |  | $ | 48,344 |  |  | $ | 85,752 |
___________________ (1)Includes property and equipment added under finance leases of $422 million, $525 million, and $616 million in 2022, 2023, and 2024, and under build-to-suit lease arrangements of $3.2 billion, $356 million, and $89 million in 2022, 2023, and 2024. (2)Includes property and equipment added under finance leases of $253 million, $117 million, and $238 million in 2022, 2023, and 2024, and under build-to-suit lease arrangements of $20 million, $1 million, and $8 million in 2022, 2023, and 2024. U.S. property and equipment, net and operating leases were $180.0 billion, $196.0 billion, and $241.6 billion, as of December 31, 2022, 2023, and 2024, and non-U.S. property and equipment, net and operating leases were $72.9 billion, $80.7 billion, and $87.2 billion as of December 31, 2022, 2023, and 2024. 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,
| 2022 |  | 2023 |  | 2024
North America | $ | 11,565 |  |  | $ | 13,678 |  |  | $ | 14,285 |
International | 3,483 |  |  | 4,016 |  |  | 4,462 |
AWS | 9,876 |  |  | 12,531 |  |  | 13,320 |
Consolidated | $ | 24,924 |  |  | $ | 30,225 |  |  | $ | 32,067 |

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- Definition The entire disclosure for reporting segments including data and tables. 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