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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-K ____________________________________ (Mark One)
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☒ / ☒ / ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 / ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 / ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
☒ ....................................... ☒ / ☒ / ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 / ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 / ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2025 or
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☐ / ☐ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
☐ ....................................... ☐ / ☐ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to . Commission File No. 000-22513 ____________________________________ AMAZON.COM, INC. (Exact name of registrant as specified in its charter)
Delaware
Delaware / Delaware / 91-1646860 / 91-1646860 / 91-1646860
(State or other jurisdiction ofincorporation or organization) ... (State or other jurisdiction ofincorporation or organization) / (State or other jurisdiction ofincorporation or organization) / (I.R.S. EmployerIdentification No.) / (I.R.S. EmployerIdentification No.) / (I.R.S. EmployerIdentification No.)
410 Terry Avenue North Seattle, Washington 98109-5210 (206) 266-1000 (Address and telephone number, including area code, of registrant’s principal executive offices) Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Title of Each Class / Title of Each Class / Trading Symbol(s) / Trading Symbol(s) / Trading Symbol(s) / Name of Each Exchange on Which Registered / Name of Each Exchange on Which Registered / Name of Each Exchange on Which Registered
Common Stock, par value $.01 per share ... Common Stock, par value $.01 per share / Common Stock, par value $.01 per share / AMZN / AMZN / AMZN / Nasdaq Global Select Market / Nasdaq Global Select Market / Nasdaq Global Select Market
Securities registered pursuant to Section 12(g) of the Act: None ____________________________________ Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
Large accelerated filer / Large accelerated filer / ☒ / ☒ / ☒ / Accelerated filer / Accelerated filer / Accelerated filer / ☐ / ☐ / ☐
Non-accelerated filer ................... Non-accelerated filer / Non-accelerated filer / ☐ / ☐ / ☐ / Smaller reporting company / Smaller reporting company / Smaller reporting company / ☐ / ☐ / ☐
Emerging growth company / Emerging growth company / Emerging growth company / ☐ / ☐ / ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒ If securities are registered pursuant to Section 12(b) of the Exchange Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
Aggregate market value of voting stock held by non-affiliates of the registrant as of June 30, 2025
Aggregate market value of voting stock held by non-affiliates of the registrant as of June 30, 2025 / Aggregate market value of voting stock held by non-affiliates of the registrant as of June 30, 2025 / $ / 2,118,061,430,046
Number of shares of common stock outstanding as of January 28, 2026 ... Number of shares of common stock outstanding as of January 28, 2026 / Number of shares of common stock outstanding as of January 28, 2026 / 10,734,920,870 / 10,734,920,870
____________________________________ DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III of this Report, to the extent not set forth herein, is incorporated herein by reference from the registrant’s definitive proxy statement relating to the Annual Meeting of Shareholders to be held in 2026, which definitive proxy statement shall be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates.
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AMAZON.COM, INC. FORM 10-K For the Fiscal Year Ended December 31, 2025 INDEX
Page / Page / Page
PART I .................................. PART I / PART I / PART I / PART I / PART I
Item 1. ................................. Item 1. / Item 1. / Business / Business / Business / 3 / 3 / 3
Item 1A. ................................ Item 1A. / Item 1A. / Risk Factors / Risk Factors / Risk Factors / 6 / 6 / 6
Item 1B. ................................ Item 1B. / Item 1B. / Unresolved Staff Comments / Unresolved Staff Comments / Unresolved Staff Comments / 17 / 17 / 17
Item 1C. ................................ Item 1C. / Item 1C. / Cybersecurity / Cybersecurity / Cybersecurity / 17 / 17 / 17
Item 2. ................................. Item 2. / Item 2. / Properties / Properties / Properties / 18 / 18 / 18
Item 3. ................................. Item 3. / Item 3. / Legal Proceedings / Legal Proceedings / Legal Proceedings / 18 / 18 / 18
Item 4. ................................. Item 4. / Item 4. / Mine Safety Disclosures / Mine Safety Disclosures / Mine Safety Disclosures / 18 / 18 / 18
PART II ................................. PART II / PART II / PART II / PART II / PART II
Item 5. ................................. Item 5. / Item 5. / Market for the Registrant’s Common Stock, Related Shareholder Matters, and Issuer Purchases of Equity Securities / Market for the Registrant’s Common Stock, Related Shareholder Matters, and Issuer Purchases of Equity Securities / Market for the Registrant’s Common Stock, Related Shareholder Matters, and Issuer Purchases of Equity Securities / 19 / 19 / 19
Item 6. ................................. Item 6. / Item 6. / Reserved / Reserved / Reserved / 19 / 19 / 19
Item 7. ................................. Item 7. / Item 7. / Management’s Discussion and Analysis of Financial Condition and Results of Operations / Management’s Discussion and Analysis of Financial Condition and Results of Operations / Management’s Discussion and Analysis of Financial Condition and Results of Operations / 20 / 20 / 20
Item 7A. ................................ Item 7A. / Item 7A. / Quantitative and Qualitative Disclosures About Market Risk / Quantitative and Qualitative Disclosures About Market Risk / Quantitative and Qualitative Disclosures About Market Risk / 31 / 31 / 31
Item 8. ................................. Item 8. / Item 8. / Financial Statements and Supplementary Data / Financial Statements and Supplementary Data / Financial Statements and Supplementary Data / 33 / 33 / 33
Item 9. ................................. Item 9. / Item 9. / Changes in and Disagreements with Accountants on Accounting and Financial Disclosure / Changes in and Disagreements with Accountants on Accounting and Financial Disclosure / Changes in and Disagreements with Accountants on Accounting and Financial Disclosure / 72 / 72 / 72
Item 9A. ................................ Item 9A. / Item 9A. / Controls and Procedures / Controls and Procedures / Controls and Procedures / 72 / 72 / 72
Item 9B. ................................ Item 9B. / Item 9B. / Other Information / Other Information / Other Information / 74 / 74 / 74
Item 9C. ................................ Item 9C. / Item 9C. / Disclosure Regarding Foreign Jurisdictions that Prevent Inspections / Disclosure Regarding Foreign Jurisdictions that Prevent Inspections / Disclosure Regarding Foreign Jurisdictions that Prevent Inspections / 74 / 74 / 74
PART III ................................ PART III / PART III / PART III / PART III / PART III
Item 10. ................................ Item 10. / Item 10. / Directors, Executive Officers, and Corporate Governance / Directors, Executive Officers, and Corporate Governance / Directors, Executive Officers, and Corporate Governance / 74 / 74 / 74
Item 11. ................................ Item 11. / Item 11. / Executive Compensation / Executive Compensation / Executive Compensation / 74 / 74 / 74
Item 12. ................................ Item 12. / Item 12. / Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters / Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters / Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters / 74 / 74 / 74
Item 13. ................................ Item 13. / Item 13. / Certain Relationships and Related Transactions, and Director Independence / Certain Relationships and Related Transactions, and Director Independence / Certain Relationships and Related Transactions, and Director Independence / 75 / 75 / 75
Item 14. ................................ Item 14. / Item 14. / Principal Accountant Fees and Services / Principal Accountant Fees and Services / Principal Accountant Fees and Services / 75 / 75 / 75
PART IV ................................. PART IV / PART IV / PART IV / PART IV / PART IV
Item 15. ................................ Item 15. / Item 15. / Exhibits, Financial Statement Schedules / Exhibits, Financial Statement Schedules / Exhibits, Financial Statement Schedules / 76 / 76 / 76
Item 16. Form 10-K Summary
Signatures .............................. Signatures / Signatures / Signatures / Signatures / Signatures / 79 / 79 / 79
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AMAZON.COM, INC. PART I