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35
AMAZON.COM, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Year Ended December 31,
2013 2012 2011
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD $ 8,084 $ 5,269 $ 3,777
OPERATING ACTIVITIES:
Net income (loss) 274 (39) 631
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation of property and equipment, including internal-use software and
website development, and other amortization 3,253 2,159 1,083
Stock-based compensation 1,134 833 557
Other operating expense (income), net 114 154 154
Losses (gains) on sales of marketable securities, net 1 (9) (4)
Other expense (income), net 166 253 (56)
Deferred income taxes (156) (265) 136
Excess tax benefits from stock-based compensation (78) (429) (62)
Changes in operating assets and liabilities:
Inventories (1,410) (999) (1,777)
Accounts receivable, net and other (846) (861) (866)
Accounts payable 1,888 2,070 2,997
Accrued expenses and other 736 1,038 1,067
Additions to unearned revenue 2,691 1,796 1,064
Amortization of previously unearned revenue (2,292) (1,521) (1,021)
Net cash provided by (used in) operating activities 5,475 4,180 3,903
INVESTING ACTIVITIES:
Purchases of property and equipment, including internal-use software and website
development (3,444) (3,785) (1,811)
Acquisitions, net of cash acquired, and other (312) (745) (705)
Sales and maturities of marketable securities and other investments 2,306 4,237 6,843
Purchases of marketable securities and other investments (2,826) (3,302) (6,257)
Net cash provided by (used in) investing activities (4,276) (3,595) (1,930)
FINANCING ACTIVITIES:
Excess tax benefits from stock-based compensation 78 429 62
Common stock repurchased — (960) (277)
Proceeds from long-term debt and other 394 3,378 177
Repayments of long-term debt, capital lease, and finance lease obligations (1,011) (588) (444)
Net cash provided by (used in) financing activities (539) 2,259 (482)
Foreign-currency effect on cash and cash equivalents (86) (29) 1
Net increase (decrease) in cash and cash equivalents 574 2,815 1,492
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 8,658 $ 8,084 $ 5,269
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest on long-term debt $ 97 $ 31 $ 14
Cash paid for income taxes (net of refunds) 169 112 33
Property and equipment acquired under capital leases 1,867 802 753
Property and equipment acquired under build-to-suit leases 877 29 259
See accompanying notes to consolidated financial statements.