Amazon.com 2002 Annual Report Download

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2002
ANNUAL RE P O R T

Table of contents

  • Page 1
    2 0 0 2 ANNUAL REPORT

  • Page 2
    ...ered by Amazon have increased at a steep rate.'' Second, while focused on customer experience, we've also been lowering price substantially. We've been doing so broadly across product categories, from books to electronics, and we've eliminated shipping fees with our 365 day-per-year Free Super Saver...

  • Page 3
    ... at Amazon.com are grateful to our customers for their business and trust, to each other for our hard work, and to our shareholders for their support and encouragement. JeÃ...rey P. Bezos Founder and Chief Executive OÇcer Amazon.com, Inc. Free cash Ã-ow for 2002 of $135 million is net cash provided...

  • Page 4
    1997 LETTER TO SHAREHOLDERS (Reprinted from the 1997 Annual Report) To our shareholders: Amazon.com passed many milestones in 1997: by year-end, we had served more than 1.5 million customers, yielding 838% revenue growth to $147.8 million, and extended our market leadership despite aggressive ...

  • Page 5
    ...in 1997 substantially enhanced our store. We now oÃ...er customers gift certiÃ'cates, 1-ClickSM shopping, and vastly more reviews, content, browsing options, and recommendation features. We dramatically lowered prices, further increasing customer value. Word of mouth remains the most powerful customer...

  • Page 6
    Infrastructure During 1997, we worked hard to expand our business infrastructure to support these greatly increased traÇc, sales, and service levels: ‚ Amazon.com's employee base grew from 158 to 614, and we signiÃ'cantly strengthened our management team. ‚ Distribution center capacity grew ...

  • Page 7
    1997 was indeed an incredible year. We at Amazon.com are grateful to our customers for their business and trust, to each other for our hard work, and to our shareholders for their support and encouragement. JeÃ...rey P. Bezos Founder and Chief Executive OÇcer Amazon.com, Inc.

  • Page 8
    ... Yes ¥ No n Aggregate market value of voting stock held by non-aÇliates of the registrant as of June 28, 2002 Number of shares of common stock outstanding as of January 27, 2003 DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III of this Report, to the extent not set forth...

  • Page 9
    ... 31, 2002 INDEX Page Item Item Item Item 1. 2. 3. 4. PART I Business Properties Legal Proceedings Submission of Matters to a Vote of Security Holders PART II Market for the Registrant's Common Stock and Related Stockholder Matters Selected Consolidated Financial Data Management's Discussion...

  • Page 10
    ... housewares, books, music, DVDs, videos, cameras and photo items, oÇce products, toys, baby items and baby registry, software, computer and video games, cell phones and service, tools and hardware, travel services, magazine subscriptions and outdoor living items. Through our Merchants@ and Amazon...

  • Page 11
    ... utilize our e-commerce services, features and technologies to sell our products through another business's Web site using another business's name and URL. Under these arrangements, we are the seller of record and are responsible for fulÃ'llment and customer service. The other business earns a sales...

  • Page 12
    ..., browsing, searching and the ability to view selected interior pages of over 250,000 books with our ""Look Inside the Book'' feature. Our community of online users creates feature-rich content, including product reviews and online lists, such as wish lists, wedding registries and baby registries of...

  • Page 13
    ... the Amazon.com customer service experience. Customers can use the ""your-account'' website features to track order and shipment status, review estimated delivery dates, cancel unshipped items, change delivery information and payment options, combine orders, edit gift options and return items. In...

  • Page 14
    ...cant brand awareness, sales volume and customer bases, and some of which currently sell, or may sell, products or services through the Internet, mail order or direct marketing; (2) other online e-commerce sites; (3) a number of indirect competitors, including Web portals and Web search engines that...

  • Page 15
    ... retain qualiÃ'ed personnel. Available Information Our investor relations website is www.amazon.com/ir. We make available on this website under ""Financial Documents and Annual Reports,'' free of charge, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and...

  • Page 16
    ..., hardware and content, these initiatives may not be viable. The amount of compensation we receive under certain of these agreements is dependent on the volume of sales that the other company makes. Therefore, if the other business's Web site or product or services oÃ...ering is not successful, we may...

  • Page 17
    ... our shipping margins due to complimentary upgrades, split-shipments and additional long-zone shipments necessary to ensure timely delivery, especially for the holiday season. If the other businesses on whose behalf we perform inventory fulÃ'llment services deliver product to our fulÃ'llment centers...

  • Page 18
    ... on favorable terms our strategic alliances; ‚ foreign exchange rate Ã-uctuations; ‚ our ability to acquire merchandise, manage inventory and fulÃ'll orders; ‚ the introduction by our competitors of Web sites, products or services; ‚ changes in usage of the Internet and online services and...

  • Page 19
    ... of the Board. We do not have ""key person'' life insurance policies. The loss of any of our executive oÇcers or other key employees could harm our business. System Interruption and the Lack of Integration and Redundancy in Our Systems May AÃ...ect Our Sales Customer access to our Web sites directly...

  • Page 20
    ... on pricing or discounts; ‚ lower level of adoption or use of the Internet and other technologies vital to our business and the lack of appropriate infrastructure to support widespread Internet usage; ‚ lower level of credit card usage and increased payment risk; ‚ diÇculty in developing and...

  • Page 21
    ... within our fulÃ'llment network will harm our shipping margins by requiring us to make split shipments from one or more locations, complimentary upgrades and additional long-zone shipments necessary to ensure timely delivery. As a result of our Merchants@ program relationships with Toysrus.com...

  • Page 22
    ... ‚ Ã-uctuations in the stock market in general and market prices for Internet-related companies in particular; ‚ quarterly variations in operating results; ‚ new products, services, innovations and strategic developments by our competitors or us, or business combinations and investments by our...

  • Page 23
    ... Japanese consumption tax for products that are ordered on www.amazon.co.jp and delivered in Japan. In addition, Canadian consumption taxes are collected on sales of products that are ordered on www.amazon.ca and delivered in Canada. Our fulÃ'llment center and customer service center networks, and...

  • Page 24
    ... product liability. We Could Be Liable for Breaches of Security on Our Web Site and Fraudulent Activities of Users of Our Amazon Payments Program A fundamental requirement for e-commerce is the secure transmission of conÃ'dential information over public networks. Although we have developed systems...

  • Page 25
    ... or the fraudulent collection of payments could harm our business. In running our Merchants@ program, Merchant.com program, Amazon Marketplace, Auctions and zShops services, we rely on sellers to make accurate representations and provide reliable delivery, and on buyers to pay the agreed purchase...

  • Page 26
    ... and Chief Information OÇcer Vice President and Chief Accounting OÇcer Senior Vice President, Worldwide Retail and Marketing Senior Vice President and Chief Financial OÇcer Senior Vice President, Worldwide Operations and Customer Service Senior Vice President, Human Resources, General Counsel and...

  • Page 27
    ... and shipping. These oÃ...site storage and shipping facilities are under relatively short-term lease agreements that expire at various times through May 2003; following expiration, we intend to renew certain of these leases or consolidate into new oÃ...site facilities, or both. Our U.S. customer service...

  • Page 28
    the United Kingdom and France are located in Bad Hersfeld, Marston Gate and Orleans, respectively, and the lease terms expire in December 2009, October 2025 and March 2009, respectively. In January 2001, we closed our fulÃ'llment centers in McDonough, Georgia and Seattle, Washington. Our lease for ...

  • Page 29
    ... quarter of 2002. PART II Item 5. Market for the Registrant's Common Stock and Related Stockholder Matters Market Information Our common stock is traded on the Nasdaq National Market under the symbol ""AMZN.'' The following table sets forth the high and low sale prices for the common stock for the...

  • Page 30
    ... of the economy in general, the Internet and online commerce, customer spending patterns, the amount that we invest in new business opportunities and the timing of those investments, the mix of products sold to customers, the mix of net sales derived from products as compared with services, risks of...

  • Page 31
    ..., a Ã'xed-payment schedule, or a combination of the two, we generally record the net amounts as commissions earned. Product sales, net of promotional discounts, rebates and return allowances, are recorded when the products are shipped and title passes to customers. Retail items sold to customers are...

  • Page 32
    ... other businesses and individuals to oÃ...er products or services through our Web sites; and powering third-party Web sites, either with or without providing accompanying fulÃ'llment services. These commercial agreements also include miscellaneous marketing and promotional agreements. As compensation...

  • Page 33
    ... price of consumer products sold by us, less promotional discounts, rebates and sales returns; outbound shipping charges billed to our customers; commissions and other amounts earned from sales of new and used products on Amazon Marketplace; amounts earned (Ã'xed fees, sales commissions, per-unit...

  • Page 34
    ... includes all retail sales of the following internationally-focused Web sites: www.amazon.co.uk, www.amazon.de, www.amazon.fr and www.amazon.co.jp. These international sites share a common Amazon.com experience, but are localized in terms of language, products, customer service and fulÃ'llment...

  • Page 35
    ... sales through Amazon Marketplace), improvements in transportation and inventory management and improvements in product sourcing, oÃ...set by price reductions on books and electronics, the expiration of certain high-margin marketing and promotional agreements, and our free and reduced-rate shipping...

  • Page 36
    ... in comparison to the prior year. If product sales through Amazon Marketplace continue to increase, we anticipate improvement in gross margin, oÃ...set to the extent we oÃ...er additional or broader price reductions, free shipping oÃ...ers and other promotions. Gross proÃ't for our International segment...

  • Page 37
    ... in marketing channels considered most eÃ...ective in driving incremental net sales, such as targeted online advertising through various Web portals and our Associates program. In January 2002, we introduced a new shipping option at www.amazon.com, oÃ...ering everyday free shipping for certain orders...

  • Page 38
    ... eÃ...ect on ""Stock-based compensation'' associated with various quoted prices of our common stock, which we are unable to forecast accurately, using a sensitivity analysis for our outstanding stock options subject to variable accounting at December 31, 2002. We have provided this information to give...

  • Page 39
    ... options are exercised during a period at prices that diÃ...er from the closing stock price for the reporting period. As of December 31, 2002, the Company's common stock closed at $18.89, representing an increase of 41% over $13.375. Cumulative compensation expense associated with variable accounting...

  • Page 40
    ... our consolidated balance sheets. Cash payments resulting from our operational restructuring were $45 million and $49 million for 2002 and 2001, respectively. We estimate, based on currently available information, the remaining net cash outÃ-ows associated with our restructuring-related commitments...

  • Page 41
    ... marketing, technology and content and general and administrative; a decline in restructuring-related charges; as well as a decline in amortization of goodwill and other intangibles primarily due to the adoption of SFAS No. 142; oÃ...set by stock-based compensation charges associated primarily...

  • Page 42
    ... generally deÃ'ned as an ownership interest of the voting stock of the investee of between 20% and 50%, although other factors, such as representation on our investee's Board of Directors and the eÃ...ect of commercial arrangements, are considered in determining whether the equity method of accounting...

  • Page 43
    ...our PEACS from Euros to U.S. Dollars, we would have reported more net income in the fourth quarter of 2002. We are unable to forecast the eÃ...ect on our future reported results of certain items, including the stock-based compensation charges or credits associated with variable accounting treatment on...

  • Page 44
    ...the Company's common stock on ""Stock-based compensation.'' Other amounts, such as charges associated with our 2001 operational restructuring, are excluded to provide our management and investors information relating to ongoing operations. All pro forma results are derived from information presented...

  • Page 45
    ...cash Ã-ow information for 2002, 2001 and 2000, were as follows (in thousands): Full Year Year Ended December 31, 2002 Fourth Third Second Quarter Quarter Quarter First Quarter Pro forma income from operations Pro forma net income (loss Pro forma income from operations as a percentage of net sales...

  • Page 46
    ... 364,211 364,211 Net sales Cost of sales Gross proÃ't Operating expenses: FulÃ'llment Marketing Technology and content General and administrative Stock-based compensation Amortization of goodwill and other intangibles Restructuring-related and other Total operating expenses Income (loss...

  • Page 47
    ... the swap agreement Ã-uctuates with the fair market value of the swap obligation. The change in the total amount of collateral pledged under these agreements was as follows (in thousands): Standby Letters of Credit Swap Agreement Real Estate Leases Total Balance at December 31, 2001 Net change in...

  • Page 48
    ... Company had signed contractual sublease agreements covering $10 million in future payments. Long-term capital lease obligations are as follows (in thousands): December 31, 2002 Gross capital lease obligations Less imputed interest Present value of net minimum lease payments Less current portion...

  • Page 49
    ... securities are designated as available-for-sale and, accordingly, are presented at fair value on our balance sheets. We generally invest our excess cash in A-rated or higher short- to intermediate-term Ã'xed income securities and money market mutual funds. Fixed rate securities may have their fair...

  • Page 50
    ... maturity and the related weighted average interest rates at December 31, 2002. Amounts were as follows (in thousands, except percentages): Estimated Fair Value at December 31, 2002 2003 2004 2005 2006 2007 Thereafter Total Commercial paper and short-term obligations $437,363 Weighted...

  • Page 51
    ....uk, www.amazon.de, www.amazon.fr, www.amazon.co.jp and www.amazon.ca is the same as the local currency of the United Kingdom, Germany, France, Japan and Canada, respectively. Results of operations from our foreign subsidiaries and our subsidiaries that operate our internationally-focused Web sites...

  • Page 52
    ... option at no cost on or after February 20, 2003 if our common stock price (converted into Euros) is greater than or equal to 84.883 Euros, the minimum conversion price of the 6.875% PEACS. We account for the swap agreement as a cash Ã-ow hedge of the risk of exchange rate Ã-uctuations on the debt...

  • Page 53
    Item 8. Financial Statements and Supplementary Data INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Page Report of Ernst & Young LLP, Independent Auditors Consolidated Balance Sheets Consolidated Statements of Operations Consolidated Statements of Cash Flows Consolidated Statements of Stockholders' ...

  • Page 54
    ..., INDEPENDENT AUDITORS The Board of Directors and Stockholders Amazon.com, Inc. We have audited the accompanying consolidated balance sheets of Amazon.com, Inc. as of December 31, 2002 and 2001, and the related consolidated statements of operations, stockholders' equity (deÃ'cit) and cash Ã-ows for...

  • Page 55
    AMAZON.COM, INC. CONSOLIDATED BALANCE SHEETS December 31, December 31, 2002 2001 (In thousands, except per share data) ASSETS Current assets: Cash and cash equivalents Marketable securities Inventories Accounts receivable, net and other current assets Total current assets Fixed assets, net ...

  • Page 56
    ..., except per share data) Net sales Cost of sales Gross proÃ't Operating expenses: FulÃ'llment Marketing Technology and content General and administrative Stock-based compensation(1 Amortization of goodwill and other intangibles Restructuring-related and other Total operating expenses...

  • Page 57
    ... of marketable securities Purchases of Ã'xed assets, including internal-use software and Web site development Investments in equity-method investees and other investments ÏÏÏ Net cash provided by (used in) investing activities FINANCING ACTIVITIES: Proceeds from exercise of stock options and...

  • Page 58
    ... available-for-sale securities, netÏÏÏ Comprehensive loss Issuance of capital stock, net of issuance costs Exercise of common stock options, net Public oÃ...ering of equity-method investee Note receivable for common stock ÏÏ Deferred stock-based compensation, net of adjustments Amortization...

  • Page 59
    ... and housewares, books, music, DVDs, videos, cameras and photo items, oÇce products, toys, baby items and baby registry, software, computer and video games, cell phones and service, tools and hardware, travel services, magazine subscriptions and outdoor living items. Through Amazon Marketplace...

  • Page 60
    ... and eÃ...ective January 1, 2002, the Company adopted the full provisions of SFAS No. 141 and SFAS No. 142, ""Goodwill and Other Intangible Assets.'' SFAS No. 141 requires business combinations initiated after June 30, 2001 to be accounted for using the purchase method of accounting, and broadens the...

  • Page 61
    ... (generally two to ten years). Included in Ã'xed assets is the cost of internal-use software, including software used to upgrade and enhance the Company's Web sites. The Company expenses all costs related to the development of internal-use software other than those incurred during the application...

  • Page 62
    ... from the balance sheet date, such investments are included in ""Other equity investments.'' The Company also invests in certain marketable debt securities, which consist primarily of highquality short- to intermediate-term Ã'xed income securities that are classiÃ'ed as available-for-sale securities...

  • Page 63
    ...nancial ratios. The evaluation also considers publicly available information regarding the investee companies, including reports from investment analysts and other publicly available investee-speciÃ'c news or general market conditions. For investments in private companies with no quoted market price...

  • Page 64
    ...xed-payment schedule, or a combination of the two, the Company generally records the net amounts as commissions earned. Product sales, net of promotional discounts, rebates and return allowances, are recorded when the products are shipped and title passes to customers. Retail items sold to customers...

  • Page 65
    ...indirect fulÃ'llment-related costs to ship products on behalf of third-party sellers, costs to provide customer service, credit card fees and other related costs. Outbound shipping charges and the cost of tangible supplies used to package products for shipment to customers totaled $404 million, $376...

  • Page 66
    ... infrastructure. Technology and content costs are expensed as incurred, except for certain costs relating to the development of internal-use software, including upgrades and enhancements to the Company's Web sites, that are capitalized and depreciated over two years. Fixed assets associated...

  • Page 67
    AMAZON.COM, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (Continued) Restricted stock and restricted stock units are measured at fair value on the date of grant based on the number of shares granted and the quoted price of the Company's common stock. Such value is recognized as an expense ...

  • Page 68
    ... TO CONSOLIDATED FINANCIAL STATEMENTS Ì (Continued) Foreign Currency The Company has the following internationally-focused Web sites: www.amazon.co.uk, www.amazon.de, www.amazon.fr, www.amazon.co.jp and www.amazon.ca. Net sales generated from these Web sites, as well as most of the related expenses...

  • Page 69
    ... an equivalent amount of Euro-denominated investments classiÃ'ed as available-for-sale; accordingly, currency gains and losses on the 6.875% PEACS were recorded to ""Accumulated other comprehensive income (loss)'' on the consolidated balance sheets as hedging oÃ...sets to currency gains and losses on...

  • Page 70
    ... and are consistent with the Company's existing accounting policy. In November 2002, the EITF reached a consensus on Issue 00-21, addressing how to account for arrangements that involve the delivery or performance of multiple products, services, and/or rights to use assets. Revenue arrangements with...

  • Page 71
    ..., 2002, 2001, and 2000 respectively. The Company has pledged a portion of its marketable securities as collateral for stand-by letters of credit that guarantee certain of its contractual obligations, a majority of which relates to property leases; the swap agreement that hedges foreign exchange rate...

  • Page 72
    ...EquityMethod Cost-Method Total Balance, December 31, 2000 Investments Ì common stock consideration Fair value of equity securities received in services-related transactions Equity-method losses, net Sales of investments at fair value Realized gains on sales of investments, net Non-cash gains...

  • Page 73
    ... fair value of the Company's investments in the common stock of publicly held equity-method investees was $31 million and $25 million, respectively. Note 5 Ì Unearned Revenue Activity in unearned revenue was as follows (in thousands): Balance, December 31, 2000 Cash received or accounts receivable...

  • Page 74
    ... paying taxes and other claims in a timely manner. The Company was in compliance with these covenants at December 31, 2002. In order to hedge a portion of the risk of foreign exchange Ã-uctuations between the U.S. Dollar and the Euro, the Company entered into a cross-currency swap agreement. Under...

  • Page 75
    ... value of net future cash payments and receipts, adjusted for the Company's ability to cancel the agreement and the likelihood of such cancellation. The fair value takes into consideration current foreign exchange rates, market interest rates, the current market price of the Company's common stock...

  • Page 76
    ... taxes and other claims in a timely manner and the provision of information required under Rule 144A of the Securities Act of 1933 to enable holders to sell without registration. The Company was in compliance with these covenants at December 31, 2002. Based upon quoted market prices, the fair value...

  • Page 77
    ... TO CONSOLIDATED FINANCIAL STATEMENTS ÃŒ (Continued) Note 7 ÃŒ Commitments and Contingencies Commitments The Company currently leases oÇce and fulÃ'llment center facilities and Ã'xed assets under noncancelable operating and capital leases. Rental expense under operating lease agreements for 2002...

  • Page 78
    ... interest Present value of net minimum lease payments Less current portion Long-term capital lease obligations Pledged Securities $ 9,083 (592) 8,491 (7,506) $ 985 The Company has pledged a portion of its marketable securities as collateral for stand-by letters of credit that guarantee certain...

  • Page 79
    ...Book Group. No other vendors account for over 10%. The Company does not have long-term contracts or arrangements with most of its vendors to guarantee the availability of merchandise, particular payment terms or the extension of credit limits. Note 8 ÃŒ Stockholders' Equity (DeÃ'cit) Preferred Stock...

  • Page 80
    ... the 1997 Stock Incentive Plan, as its primary vehicle for employee equity compensation. Employees vest in restricted stock unit awards ratably over the corresponding service term, generally three to six years. As it relates to stock option awards, the Company's Board of Directors generally sets an...

  • Page 81
    ... At December 31, 2002, outstanding stock awards totaled 45 million, which includes 42 million stock options and 3 million restricted stock units. The following table summarizes the Company's stock option activity: Number of Shares (In thousands) Weighted Average Exercise Price Balance December 31...

  • Page 82
    ...'s common stock issued on the date of grant. Such value is recognized as an expense ratably over the corresponding service period, which is generally Ã've years. Additionally, in 2002, 2001 and 2000, the Company recorded adjustments to reduce previously recorded deferred stock-based compensation of...

  • Page 83
    ... organizational structure, consolidate certain of its fulÃ'llment and customer service operations and migrate a large portion of its technology infrastructure to a new operating platform. This initiative involved the reduction of employee staÃ... by 1,327 positions throughout the Company in managerial...

  • Page 84
    ... Georgia, primarily due to weakness in these real estate markets; reached a termination agreement with the landlord of its leased fulÃ'llment center facility in McDonough, Georgia; and permanently closed its fulÃ'llment center in Seattle, Washington. Restructuring-related charges were as follows (in...

  • Page 85
    ... of the Company's business acquisitions. Note 11 Ì Other Income (Expense), Net Other income (expense), net consisted of the following (in thousands): Years Ended December 31, 2002 2001 2000 Gains on sales of marketable securities, net Foreign-currency transaction losses, net Miscellaneous state...

  • Page 86
    ... in 2003 using its common stock. Note 15 Ì Segment Information The Company presents information to its chief operating decision maker in four segments: North America Books, Music, and DVD/Video (""BMVD''); North America Electronics, Tools, and Kitchen (""ETK''); International; and Services...

  • Page 87
    ... includes all retail sales of the following internationally-focused Web sites: www.amazon.co.uk, www.amazon.de, www.amazon.fr and www.amazon.co.jp. These international sites share a common Amazon.com experience, but are localized in terms of language, products, customer service and fulÃ'llment...

  • Page 88
    ...2002: North America Books, Music Electronics, and Tools and DVD/Video Kitchen Total International Services Consolidated Net sales Gross proÃ't Pro forma income (loss) from operations Stock-based compensation Amortization of other intangibles ÏÏÏÏÏ Restructuring-related and other Total...

  • Page 89
    ... America Books, Music Electronics, and Tools and DVD/Video Kitchen Total International Services Consolidated Net sales Gross proÃ't Pro forma income (loss) from operations Stock-based compensation Amortization of goodwill and other intangibles Restructuring-related and other Total non...

  • Page 90
    ...Fourth Quarter Year Ended December 31, 2002 Third Second Quarter Quarter First Quarter Net sales Gross proÃ't Income (loss) before change in accounting principle Cumulative eÃ...ect of change in accounting principle Net income (loss Basic income (loss) per share(1): Prior to cumulative eÃ...ect of...

  • Page 91
    ...91) $ (0.90) Shares used in computation of basic and diluted loss per share 355,681 353,954 349,886 343,884 (1) The sum of quarterly per share amounts may not equal per share amounts reported for year-to-date periods. This is due to changes in the number of weighted-average shares outstanding and...

  • Page 92
    ... Item 11. Executive Compensation Information required by Item 11 of Part III is included in our Proxy Statement relating to our 2003 annual meeting of stockholders and is incorporated herein by reference. Item 12. Security Ownership of Certain BeneÃ'cial Owners and Management and Related Stockholder...

  • Page 93
    ...of 43/4% Convertible Subordinated Notes Due 2009 attached as Exhibit A thereto (incorporated by reference to the Company's Current Report on Form 8-K dated February 3, 1999). Registration Rights Agreement, dated February 3, 1999, by and among Amazon.com, Inc. and the Initial Purchasers (incorporated...

  • Page 94
    ... 28, 2000. Executive Compensation Letter to Mark Peek, dated April 19, 2002. Form of Restricted Stock Unit Agreement for OÇcers and Employees. Form of Restricted Stock Unit Agreement for Directors. Form of Restricted Stock Agreement (incorporated by reference to the Company's Annual Report on Form...

  • Page 95
    ..., thereunto duly authorized, as of February 17, 2003. AMAZON.COM, INC. By: JEFFREY P. BEZOS JeÃ...rey P. Bezos President, Chief Executive OÇcer and Chairman of the Board /s/ Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following...

  • Page 96
    ... respect to the period covered by this annual report; 3. Based on my knowledge, the Ã'nancial statements, and other Ã'nancial information included in this annual report, fairly present in all material respects the Ã'nancial condition, results of operations and cash Ã-ows of the registrant as of, and...

  • Page 97
    ... respect to the period covered by this annual report; 3. Based on my knowledge, the Ã'nancial statements, and other Ã'nancial information included in this annual report, fairly present in all material respects the Ã'nancial condition, results of operations and cash Ã-ows of the registrant as of, and...

  • Page 98
    www.amazon.ca www.amazon.co.jp www.amazon.co.uk www.amazon.com www.amazon.de www.amazon.fr