2017 Q4 Form 10-K Financial Statement

#000101872418000005 Filed on February 02, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017
Revenue $60.45B $43.74B $177.9B
YoY Change 38.21% 33.72% 30.8%
Cost Of Revenue $38.50B $27.55B $111.9B
YoY Change 32.93% 29.58% 26.82%
Gross Profit $21.96B $16.20B $65.93B
YoY Change 48.55% 41.39% 38.16%
Gross Profit Margin 36.32% 37.02% 37.07%
Selling, General & Admin $13.46B $3.439B $13.74B
YoY Change 50.39% 44.68% 42.19%
% of Gross Profit 61.29% 21.23% 20.84%
Research & Development $6.314B $5.944B $22.62B
YoY Change 38.95% 43.75% 40.63%
% of Gross Profit 28.75% 36.7% 34.31%
Depreciation & Amortization $3.498B $2.912B $11.48B
YoY Change 52.29% 39.73% 41.42%
% of Gross Profit 15.93% 17.98% 17.41%
Operating Expenses $19.83B $9.383B $36.36B
YoY Change 46.6% 44.09% 41.22%
Operating Profit $2.127B $347.0M $4.106B
YoY Change 69.48% -39.65% -1.91%
Interest Expense -$273.0M $228.0M $848.0M
YoY Change 162.5% 93.22% 75.21%
% of Operating Profit -12.83% 65.71% 20.65%
Other Income/Expense, Net $17.00M -$31.00M -$300.0M
YoY Change 13.33% -63.1% 2.04%
Pretax Income $1.872B $316.0M $5.630B
YoY Change 60.55% -35.64% 23.71%
Income Tax $16.00M $58.00M $769.0M
% Of Pretax Income 0.85% 18.35% 13.66%
Net Earnings $1.856B $256.0M $3.033B
YoY Change 147.8% 1.59% 27.92%
Net Earnings / Revenue 3.07% 0.59% 1.71%
Basic Earnings Per Share $3.85 $0.53 $6.32
Diluted Earnings Per Share $3.75 $0.52 $6.15
COMMON SHARES
Basic Shares Outstanding 483.0M shares 481.0M shares 480.0M shares
Diluted Shares Outstanding 496.0M shares 494.0M shares 493.0M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.99B $24.31B $30.99B
YoY Change 19.26% 32.5% 19.26%
Cash & Equivalents $20.52B $12.77B $20.52B
Short-Term Investments $10.46B $11.54B $10.46B
Other Short-Term Assets
YoY Change
Inventory $16.05B $13.71B $16.05B
Prepaid Expenses
Receivables $13.16B $10.56B
Other Receivables
Total Short-Term Assets $60.20B $48.58B $60.20B
YoY Change 31.49% 36.42% 31.49%
LONG-TERM ASSETS
Property, Plant & Equipment $48.87B $45.34B $48.87B
YoY Change 67.84% 66.81% 67.84%
Goodwill $13.35B $13.27B
YoY Change 252.8% 247.86%
Intangibles $3.371B
YoY Change 294.73%
Long-Term Investments $415.0M $438.0M $415.0M
YoY Change 71.49% 48.47% 71.49%
Other Assets $8.897B $8.083B $5.111B
YoY Change 88.38% 88.15% 40.92%
Total Long-Term Assets $71.11B $66.69B $71.11B
YoY Change 89.02% 88.98% 89.02%
TOTAL ASSETS
Total Short-Term Assets $60.20B $48.58B $60.20B
Total Long-Term Assets $71.11B $66.69B $71.11B
Total Assets $131.3B $115.3B $131.3B
YoY Change 57.44% 62.58% 57.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.62B $26.08B $34.62B
YoY Change 36.77% 38.69% 36.77%
Accrued Expenses $11.95B $9.268B $11.95B
YoY Change -13.03% -11.71% 39.89%
Deferred Revenue $5.097B
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0M $1.037B $6.221B
YoY Change -90.53% 2060.42% 19.7%
Total Short-Term Liabilities $57.88B $47.07B $57.88B
YoY Change 32.1% 40.52% 32.1%
LONG-TERM LIABILITIES
Long-Term Debt $24.74B $24.71B $37.93B
YoY Change 221.59% 201.16% 149.3%
Other Long-Term Liabilities $20.98B $18.83B $6.802B
YoY Change 66.38% 64.98% 44.85%
Total Long-Term Liabilities $45.72B $43.54B $44.73B
YoY Change 125.2% 121.94% 124.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.88B $47.07B $57.88B
Total Long-Term Liabilities $45.72B $43.54B $44.73B
Total Liabilities $103.6B $90.61B $103.6B
YoY Change 61.58% 70.59% 61.58%
SHAREHOLDERS EQUITY
Retained Earnings $8.636B $6.779B
YoY Change 75.67% 62.68%
Common Stock $5.000M $5.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.837B $1.837B
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $27.71B $24.66B $27.71B
YoY Change
Total Liabilities & Shareholders Equity $131.3B $115.3B $131.3B
YoY Change 57.44% 62.58% 57.44%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017
OPERATING ACTIVITIES
Net Income $1.856B $256.0M $3.033B
YoY Change 147.8% 1.59% 27.92%
Depreciation, Depletion And Amortization $3.498B $2.912B $11.48B
YoY Change 52.29% 39.73% 41.42%
Cash From Operating Activities $12.36B $3.777B $18.37B
YoY Change 8.29% -18.93% 6.75%
INVESTING ACTIVITIES
Capital Expenditures -$3.619B -$3.075B $7.417B
YoY Change 17.77% -267.03% 51.46%
Acquisitions $13.21B $13.97B
YoY Change 15629.76% 11944.83%
Other Investing Activities $1.638B -$15.40B -$15.13B
YoY Change -321.05% 2013.03% 783.7%
Cash From Investing Activities -$1.981B -$18.48B -$27.08B
YoY Change -48.06% 618.99% 184.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.571B $14.66B $9.928B
YoY Change 142.32% -1566.2% -367.17%
NET CHANGE
Cash From Operating Activities 12.36B $3.777B $18.37B
Cash From Investing Activities -1.981B -$18.48B -$27.08B
Cash From Financing Activities -2.571B $14.66B $9.928B
Net Change In Cash 7.806B $109.0M $1.922B
YoY Change 19.41% -89.99% -48.87%
FREE CASH FLOW
Cash From Operating Activities $12.36B $3.777B $18.37B
Capital Expenditures -$3.619B -$3.075B $7.417B
Free Cash Flow $15.98B $6.852B $10.95B
YoY Change 10.3% 143.15% -11.04%

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100000 shares
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StockIssuedDuringPeriodValueAcquisitions
5000000 USD
CY2015 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
2131000000 USD
CY2016 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
2962000000 USD
CY2017 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
4202000000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4000000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000000 USD
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
10741000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
13384000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
19285000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
27709000000 USD
CY2017Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
1100000000 USD
CY2015 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax
-215000000 USD
CY2016 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax
62000000 USD
CY2017 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax
202000000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1837000000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1837000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
710000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1181000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1710000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2300000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2309000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
22000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
133000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
139000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
67000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
107000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
18000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
9000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
40000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
242000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
308000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
518000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
254000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
355000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
223000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1200000000 USD
CY2017Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
2922000000 USD
CY2017Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
3527000000 USD
CY2017Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
3039000000 USD
CY2017Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
3561000000 USD
CY2017Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
3195000000 USD
CY2017Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
24200000000 USD
CY2017Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
7956000000 USD
CY2017Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
600000000 USD
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
477000000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
481000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
483000000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
485000000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
486000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
484000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
490000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
492000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
494000000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
496000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
493000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
467000000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
471000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
473000000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
474000000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
476000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
474000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
477000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
479000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
481000000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
483000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
480000000 shares
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Prior Period Reclassifications </font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform to the current period presentation, including the expanded presentation of &#8220;Net cash provided by (used in) investing activities&#8221; on our consolidated statements of cash flows and the allocation of stock-based compensation to &#8220;Other operating expense, net&#8221; in the segment results within &#8220;Note 11 - Segment Information.&#8221; These revised segment results reflect the way our chief operating decision maker evaluates the Company&#8217;s business performance and manages its operations. In addition, excess tax benefits from stock-based compensation were reclassified from &#8220;Net cash provided by (used in) financing activities&#8221; to &#8220;Net cash provided by (used in) operating activities&#8221; on our consolidated statements of cash flows as a result of the adoption of new accounting guidance.</font></div></div>
CY2017 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Unearned Revenue</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unearned revenue is recorded when payments are received in advance of performing our service obligations and is recognized over the service period. Unearned revenue primarily relates to prepayments of Amazon Prime memberships and AWS services.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, determining the selling price of products and services in multiple element revenue arrangements and determining the amortization period of these elements, incentive discount offers, sales returns, vendor funding, stock-based compensation forfeiture rates, income taxes, valuation and impairment of investments, inventory valuation and inventory purchase commitments, collectability of receivables, valuation of acquired intangibles and goodwill, depreciable lives of property and equipment, internal-use software and website development costs, acquisition purchase price allocations, investments in equity interests, and contingencies. Actual results could differ materially from those estimates.</font></div></div>

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