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Mod 11 Adjusting enterprise operations

Mod 11 Adjusting enterprise operations. SPECIALTY RETAIL - AMAZON Sophie Yu Section 2. INVENTORY METHOD. From 10-k Notes: Inventories

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Mod 11 Adjusting enterprise operations

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  1. Mod 11Adjustingenterpriseoperations SPECIALTY RETAIL - AMAZON Sophie Yu Section 2

  2. INVENTORY METHOD • From10-kNotes: • Inventories • Inventories,consistingofproductsavailableforsale,areprimarilyaccountedforusingthefirst-infirst-out(“FIFO”)method,andarevaluedatthelowerofcostormarketvalue. • NoNeedtoadjustinventory

  3. OPERATINGLEASES • NospecificNotesforLeases,butpaymentsscheduleisincludedin“CommitmentsandContingencies”,andpresentvalueiscalculatedin“OtherLong-termLiabilities”.

  4. implicit DISCOUNT RATE =117

  5. CAPITALIZATIONOFOPERATINGLEASES AdjustmentstoBalanceSheet AdjustmentstoIncomeStatement

  6. Share-based compensation IncomeTaxesNote: …Taxbenefitsrelatingtoexcessstock-basedcompensationdeductionsarepresentedasfinancingcashflows.Cashinflowsfromtaxbenefitsrelatedtostock-basedcompensationdeductionswere$78million…in2013.

  7. Historical prices $398.79 $257.31

  8. Share-based compensation • 1.Valueofoptionsexercisableatbeginningofyear:$110million(givenbythenote) • 2. Valueofoptionsexercisableatbeginningofyearusingendofyearprices:$1674.92million(4.2*398.79) • 3.Estimatedvalueofexercisedoptions:$222.86million($78/35%) • 4.Valueofoptionscancelledduringtheyear:$209 million(givenbythenote) • 5. Value of options exercisable at end of year: $160million(givenbythenote) • 6.ShareBasedCompensation(5)-(2)+(3)+(4)=$(1083)million

  9. adjustment • Adjustments Adjusted • IncreasebeginningNFLby(1) $(7,032) • IncreaseendingNFLby(5) $(3,618) • Decrease EPAT by (6) $(610) • IncreaseFEATby[(2)-(1)]-[(3)-(4)] $1,750

  10. Questions?

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