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This report analyzes the key changes in Amazon's balance sheet for 2013, highlighting significant items such as cash and cash equivalents, property, plant, and equipment (PPE), and long-term debt. Amazon holds substantial cash reserves and low-risk government debt. Notably, the acquisition of corporate headquarters and additional buildings in 2012 increased their land and buildings value. The long-term debt structure is staggered to minimize repayment pressure. The report outlines missing details in the income statement and raises questions about product segment sales and operating expenses.
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Amazon.com,inc Nick Romjue
agenda • Module 10 changes for 2013 numbers • Balance sheet • Missing information
Property plant and equipment PPE breakdown
Long term debt Long term debt breakdown
Other long term liabilities Other long term liabilities breakdown
Takeaways from balance sheet footnotes • Amazon has a ton of cash and cash equivalents in the form of cash and money market funds • They also hold a lot of low risk, government debt • Most of their PPE is in the form of internal use software and equipment • Land and buildings went up by $1.5 billion in 2012 because they bought their corporate headquarters and 11 buildings which they were leasing before • Their long term debt is staggered so that they don’t have significant amounts due in any one year • Deferred tax assets are immaterial and rolled in to other assets
Other information • The income statement line items were not broken down in their footnotes • Tax rate adjustments were not related to financing • Items I was hoping to see: • Sales breakdown by product segment • Cost of sales breakdown, particularly shipping expense • Inventory information • More information on other operating expenses
