v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
We have organized our operations into three segments: North America, International, and AWS. We allocate to segment results the operating expenses “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” and “General and administrative” based on usage, which is generally reflected in the segment in which the costs are incurred. The majority of technology costs recorded in “Technology and infrastructure” are incurred in the U.S. and are included in our North America and AWS segments. The majority of infrastructure costs recorded in “Technology and infrastructure” are allocated to the AWS segment based on usage. There are no internal revenue transactions between our reportable segments. Our chief operating decision maker (“CODM”) is our President and Chief Executive Officer. Our CODM regularly reviews consolidated net sales, consolidated operating expenses, and consolidated operating income (loss) by segment. Amounts included in consolidated operating expenses include “Cost of sales,” “Fulfillment,” “Technology and infrastructure,” “Sales and marketing,” “General and administrative,” and “Other operating expense (income), net.” Our CODM manages our business primarily by reviewing consolidated results by segment on a quarterly basis, and using those results along with forecasts and other non-financial information in our annual budgeting process.
North America
The North America segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through North America-focused online and physical stores. This segment includes export sales from these online stores.
International
The International segment primarily consists of amounts earned from retail sales of consumer products (including from sellers) and advertising and subscription services through internationally-focused online stores. This segment includes export sales from these internationally-focused online stores (including export sales from these online stores to customers in the U.S., Mexico, and Canada), but excludes export sales from our North America-focused online stores.
AWS
The AWS segment consists of amounts earned from global sales of compute, storage, database, and other services for start-ups, enterprises, government agencies, and academic institutions.
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202620252026
North America
Net sales$100,068 $116,177 $192,955 $220,320 
Operating expenses92,551 107,054 179,597 202,930 
Operating income$7,517 $9,123 $13,358 $17,390 
International
Net sales$36,761 $42,197 $70,274 $81,986 
Operating expenses35,267 40,480 67,763 78,845 
Operating income$1,494 $1,717 $2,511 $3,141 
AWS
Net sales$30,873 $42,232 $60,140 $79,819 
Operating expenses20,713 25,611 38,433 49,037 
Operating income$10,160 $16,621 $21,707 $30,782 
Consolidated
Net sales$167,702 $200,606 $323,369 $382,125 
Operating expenses148,531 173,145 285,793 330,812 
Operating income19,171 27,461 37,576 51,313 
Total non-operating income1,686 53,396 4,960 69,378 
Provision for income taxes(2,678)(18,199)(7,231)(27,759)
Equity-method investment activity, net of tax(15)(11)(14)(30)
Net income$18,164 $62,647 $35,291 $92,902 
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):    
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202620252026
Net Sales:
Online stores (1)$61,485 $70,432 $118,892 $134,686 
Physical stores (2)5,595 5,794 11,128 11,579 
Third-party seller services (3)40,348 46,780 76,860 88,358 
Advertising services (4)15,694 19,809 29,615 37,052 
Subscription services (5)12,208 13,730 23,923 27,157 
AWS30,873 42,232 60,140 79,819 
Other (6)1,499 1,829 2,811 3,474 
Consolidated$167,702 $200,606 $323,369 $382,125 
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(1)Includes product sales and digital media content where we record revenue gross. We leverage our retail infrastructure to offer a wide selection of consumable and durable goods that includes media products available in both a physical and digital format, such as books, videos, games, music, and software. These product sales include digital products sold on a transactional basis. Digital media content subscriptions that provide unlimited viewing or usage rights are included in “Subscription services.”
(2)Includes product sales where our customers physically select items in a store. Sales to customers who order goods online for delivery or pickup at our physical stores are included in “Online stores.”
(3)Includes commissions and any related fulfillment and shipping fees, and other third-party seller services.
(4)Includes sales of advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.
(5)Includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book, and other non-AWS subscription services.
(6)Includes sales related to various other offerings (such as shipping services, healthcare services, and certain licensing and distribution of video content) and our co-branded credit card agreements.
Total segment assets exclude corporate assets, such as cash and cash equivalents, marketable securities, other long-term investments, corporate facilities, goodwill and other acquired intangible assets, and tax assets. Technology infrastructure assets, which are included in property and equipment, net, net additions, and the depreciation and amortization expense on these assets, are allocated among the segments based on usage, with the majority allocated to the AWS segment. Usage of technology infrastructure assets by the North America and International segments, and the related allocation of total net additions, can fluctuate on a quarter-to-quarter basis, and is affected by seasonality, peak periods, new product or service offerings, and other factors.
Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31, 2025June 30, 2026
North America (1)$235,652 $249,006 
International (1)81,984 85,271 
AWS (2)252,588 350,170 
Corporate247,818 411,242 
Consolidated$818,042 $1,095,689 
___________________
(1)North America and International segment assets primarily consist of property and equipment, operating leases, inventory, accounts receivable, and digital video and music content.
Property and equipment, net by segment is as follows (in millions):
 December 31, 2025June 30, 2026
North America$122,043 $135,013 
International30,632 32,879 
AWS190,055 263,750 
Corporate14,295 14,404 
Consolidated$357,025 $446,046 
Total net additions to property and equipment include technology infrastructure assets and the effect of non-cash activity such as property and equipment acquired but not yet paid.
Total net additions to property and equipment are as follows (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202620252026
North America (1)$11,272 $12,139 $16,368 $23,265 
International (1)2,531 2,540 4,037 4,267 
AWS (2)16,043 48,604 36,507 90,120 
Corporate915 608 1,298 996 
Consolidated$30,761 $63,891 $58,210 $118,648 
___________________
(1)Includes property and equipment added under finance leases of $21 million and $235 million in Q2 2025 and Q2 2026, and $75 million and $472 million for the six months ended June 30, 2025 and 2026.
(2)Includes property and equipment added under finance leases of $916 million and $328 million in Q2 2025 and Q2 2026, and $916 million and $1.7 billion for the six months ended June 30, 2025 and 2026.
Depreciation and amortization expense on property and equipment, including corporate property and equipment, are allocated to all segments based on usage.
Total depreciation and amortization expense, by segment, is as follows (in millions):
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202620252026
North America$3,742 $4,500 $7,272 $8,780 
International1,180 1,293 2,316 2,570 
AWS4,844 8,076 9,234 15,353 
Consolidated$9,766 $13,869 $18,822 $26,703