Amazon Com Inc (AMZN) 10-Q Quarterly Report July 2022

•Operating cash flow decreased 40% to $35.6 billion for the trailing twelve months, compared with $59.3 billion for the trailing twelve months ended June 30, 2021.

•Free cash flow decreased to an outflow of $23.5 billion for the trailing twelve months, compared with an inflow of $12.1 billion for the trailing twelve months ended June 30, 2021.

•Free cash flow less principal repayments of finance leases and financing obligations decreased to an outflow of $33.5 billion for the trailing twelve months, compared with an inflow of $0.6 billion for the trailing twelve months ended June 30, 2021.

•Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations decreased to an outflow of $26.1 billion for the trailing twelve months, compared with an inflow of $4.2 billion for the trailing twelve months ended June 30, 2021.

•Common shares outstanding plus shares underlying stock-based awards totaled 10.6 billion on June 30, 2022, compared with 10.4 billion one year ago. All share and per share information throughout this release has been retroactively adjusted to reflect the 20-for-1 stock split effected on May 27, 2022.

•Net sales increased 7% to $121.2 billion in the second quarter, compared with $113.1 billion in second quarter 2021. Excluding the $3.6 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 10% compared with second quarter 2021.

•Operating income decreased to $3.3 billion in the second quarter, compared with $7.7 billion in second quarter 2021.

•Net loss was $2.0 billion in the second quarter, or $0.20 per diluted share, compared with net income of $7.8 billion, or $0.76 per diluted share, in second quarter 2021. Second quarter 2022 net loss includes a pre-tax valuation loss of $3.9 billion included in non-operating expense from our common stock investment in Rivian Automotive, Inc.

“Despite continued inflationary pressures in fuel, energy, and transportation costs, we’re making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network,” said Andy Jassy, Amazon CEO. “We’re also seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits such as free delivery from Grubhub for a year, exclusive access to NFL Thursday Night Football games starting September 15, and releasing the highly anticipated series The Lord of the Rings: The Rings of Power on September 2.”

Highlights

Shopping Innovation

•Prime members worldwide shopped more and saved more this Prime Day than any other Prime Day event, purchasing more than 300 million items and saving more than $1.7 billion. On July 12 and July 13, Prime members worldwide purchased more than 100,000 items per minute, and some of the best-selling categories were Amazon Devices, Consumer Electronics, and Home. Amazon Devices had a record-breaking Prime Day, selling more devices than any other Prime Day event.

•Prime continued to provide even more value to members around the world. In the U.S., Amazon introduced new offers for Prime members, including a free one-year Grubhub+ membership, a new year-round 20% discount on select

The following information was filed by Amazon Com Inc (AMZN) on Thursday, July 28, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Amazon Com Inc's 10-Q Quarterly Report:

Other - Other Highlight
We had no borrowings outstanding under the Credit Agreement, $8.2 billion of borrowings outstanding under the Commercial Paper Programs, and $935 million of borrowings outstanding under our Credit Facility as of June 30, 2022.

Financial - Expense Highlight
Fulfillment costs as a percentage of net sales may vary due to several factors, such as payment processing and related transaction costs, our level of productivity and accuracy, changes in volume, size, and weight of units received and fulfilled, the extent to which third party sellers utilize Fulfillment by Amazon services, timing of fulfillment network and physical store expansion, the extent we utilize fulfillment services provided by third parties, mix of products and services sold, and our ability to affect customer service contacts per unit by implementing improvements in our operations and enhancements to our customer self-service features.
Financial - Expense Highlight
While costs associated with Amazon Prime membership benefits and other shipping offers are not included in sales and marketing expense, we view these offers as effective worldwide marketing tools, and intend to continue offering them indefinitely.
Financial - Expense Highlight
We expect our cost of shipping to continue to increase to the extent our customers accept and use our shipping offers at an increasing rate, we use more expensive shipping methods, including faster delivery, and we offer additional services.
Other - Other Highlight
U.S. tax rules provide for enhanced accelerated depreciation deductions by allowing the election of full expensing of qualified property, primarily equipment, through 2022.
Financial - Expense
In addition, economic conditions and...Read more
Financial - Expense
26 Table of Contents Fulfillment...Read more
Revenue - Product
We seek to expand our...Read more
Financial - Income
The increase in AWS operating...Read more
Revenue - Geography
Our results are inherently unpredictable...Read more
Financial - Expense
Technology and Content Technology and...Read more
Revenue - Product
Increased unit sales were driven...Read more
Revenue - Geography
The North America operating loss...Read more
Financial - Expense
27 Table of Contents General...Read more
Revenue - Product
Cash provided by (used in)...Read more
Other - Other
Cash capital expenditures were $13.0...Read more
Financial - Expense
Other Operating Expense (Income), Net...Read more
Financial - Expense
25 Table of Contents Operating...Read more
Revenue - Geography
For a discussion of the...Read more
Revenue - Product
The factors described above contributed...Read more
Revenue - Product
Additionally, sales by our sellers...Read more
Financial - Cash Flow
Developments in an audit, investigation,...Read more
Financial - Income
Our U.S. taxable income is...Read more
Financial - Expense
The increase in fulfillment costs...Read more
Revenue - Product
International sales decreased 12% in...Read more
Revenue - Product
The sales growth primarily reflects...Read more
Revenue - Product
The sales growth primarily reflects...Read more
Financial - Expense
Effective January 1, 2022, research...Read more
Financial - Income
Our interest income corresponds with...Read more
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Infrastructure costs include servers, networking...Read more
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Our operating cash flows result...Read more
Other - Other
See Item 7 of Part...Read more
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Changes in foreign exchange rates...Read more
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Shipping costs to receive products...Read more
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We provide multiple measures of...Read more
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Net sales information is as...Read more
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24 Table of Contents North...Read more
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AWS sales increased 33% in...Read more
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Our measures of free cash...Read more
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In addition, the COVID-19 pandemic...Read more
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Third Quarter 2022 Guidance Net...Read more
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The following is a reconciliation...Read more
Financial - Expense
We seek to mitigate costs...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Amazon Com Inc provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 10.2: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: AMZN
CIK: 1018724
Form Type: 10-Q Quarterly Report
Accession Number: 0001018724-22-000019
Submitted to the SEC: Thu Jul 28 2022 6:24:06 PM EST
Accepted by the SEC: Fri Jul 29 2022
Period: Thursday, June 30, 2022
Industry: Retail Catalog And Mail Order Houses