AMAZON.COM, INC.
Supplemental Financial Information and Business Metrics
(in millions, except per share data)
(unaudited)
Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
Y/Y %
Change
Cash Flows and Shares
Operating cash flow -- trailing twelve months (TTM)
$ 46,752 $ 54,330 $ 61,841 $ 71,654 $ 84,946 $ 99,147 82 %
Operating cash flow -- TTM Y/Y growth
1 % 38 % 74 % 81 % 82 % 82 % N/A
Purchases of property and equipment, net of proceeds from sales and
incentives -- TTM
$ 58,321 $ 57,649 $ 53,963 $ 50,220 $ 48,133 $ 48,998 (15) %
Principal repayments of finance leases -- TTM
$ 7,941 $ 6,544 $ 5,705 $ 5,245 $ 4,384 $ 3,774 (42) %
Principal repayments of financing obligations -- TTM
$ 248 $ 226 $ 244 $ 260 $ 271 $ 304 34 %
Equipment acquired under finance leases -- TTM (1)
$ 299 $ 285 $ 269 $ 239 $ 310 $ 306 8 %
Principal repayments of all other finance leases -- TTM (2)
$ 670 $ 625 $ 631 $ 694 $ 683 $ 761 22 %
Free cash flow -- TTM (3)
$ (11,569) $ (3,319) $ 7,878 $ 21,434 $ 36,813 $ 50,149 N/A
Free cash flow less principal repayments of finance leases and
financing obligations -- TTM (4)
$ (19,758) $ (10,089) $ 1,929 $ 15,929 $ 32,158 $ 46,071 N/A
Free cash flow less equipment finance leases and principal repayments
of all other finance leases and financing obligations -- TTM (5)
$ (12,786) $ (4,455) $ 6,734 $ 20,241 $ 35,549 $ 48,778 N/A
Common shares and stock-based awards outstanding
10,627 10,625 10,794 10,792 10,788 10,788 2 %
Common shares outstanding
10,242 10,258 10,313 10,330 10,383 10,403 1 %
Stock-based awards outstanding
384 367 481 462 406 385 5 %
Stock-based awards outstanding -- % of common shares outstanding
3.8 % 3.6 % 4.7 % 4.5 % 3.9 % 3.7 % N/A
Results of Operations
Worldwide (WW) net sales
$ 149,204 $ 127,358 $ 134,383 $ 143,083 $ 169,961 $ 143,313 13 %
WW net sales -- Y/Y growth, excluding F/X
12 % 11 % 11 % 11 % 13 % 13 % N/A
WW net sales -- TTM
$ 513,983 $ 524,897 $ 538,046 $ 554,028 $ 574,785 $ 590,740 13 %
WW net sales -- TTM Y/Y growth, excluding F/X
13 % 13 % 13 % 12 % 12 % 12 % N/A
Operating income
$ 2,737 $ 4,774 $ 7,681 $ 11,188 $ 13,209 $ 15,307 221 %
F/X impact -- favorable
$ 213 $ 139 $ 104 $ 132 $ 85 $ 72 N/A
Operating income -- Y/Y growth (decline), excluding F/X
(27) % 26 % 128 % 338 % 379 % 219 % N/A
Operating margin -- % of WW net sales
1.8 % 3.7 % 5.7 % 7.8 % 7.8 % 10.7 % N/A
Operating income -- TTM
$ 12,248 $ 13,353 $ 17,717 $ 26,380 $ 36,852 $ 47,385 255 %
Operating income -- TTM Y/Y growth (decline), excluding F/X
(54) % (37) % 10 % 99 % 197 % 252 % N/A
Operating margin -- TTM % of WW net sales
2.4 % 2.5 % 3.3 % 4.8 % 6.4 % 8.0 % N/A
Net income
$ 278 $ 3,172 $ 6,750 $ 9,879 $ 10,624 $ 10,431 229 %
Net income per diluted share
$ 0.03 $ 0.31 $ 0.65 $ 0.94 $ 1.00 $ 0.98 219 %
Net income (loss) -- TTM
$ (2,722) $ 4,294 $ 13,072 $ 20,079 $ 30,425 $ 37,684 778 %
Net income (loss) per diluted share -- TTM
$ (0.27) $ 0.42 $ 1.26 $ 1.93 $ 2.90 $ 3.56 756 %
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(1) For the twelve months ended March 31, 2023 and 2024, this amount relates to equipment included in “Property and equipment acquired under finance leases, net of
remeasurements and modifications” of $517 million and $676 million.
(2) For the twelve months ended March 31, 2023 and 2024, this amount relates to property included in “Principal repayments of finance leases” of $6,544 million and $3,774
million.
(3) Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, net of proceeds from sales and incentives.”
(4) Free cash flow less principal repayments of finance leases and financing obligations is free cash flow reduced by “Principal repayments of finance leases” and “Principal
repayments of financing obligations.”
(5) Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations is free cash flow reduced by equipment acquired
under finance leases, which is included in “Property and equipment acquired under finance leases, net of remeasurements and modifications,” principal repayments of all
other finance lease liabilities, which is included in “Principal repayments of finance leases,” and “Principal repayments of financing obligations.”