v3.25.4
Acquisitions, Goodwill, and Acquired Intangible Assets
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions, Goodwill, and Acquired Intangible Assets ACQUISITIONS, GOODWILL, AND ACQUIRED INTANGIBLE ASSETS
2023 Acquisition Activity
On February 22, 2023, we acquired 1Life Healthcare, Inc. (One Medical), for cash consideration of approximately $3.5 billion, net of cash acquired, to provide healthcare options for customers. The acquired assets primarily consist of $1.3 billion of intangible assets and $2.5 billion of goodwill, which is allocated to our North America segment.
During 2023, we also completed acquisition activity for immaterial aggregate cash consideration, net of cash acquired.
2024 Acquisition Activity
During 2024, we completed acquisition activity for aggregate cash consideration of $780 million, net of cash acquired.
2025 Acquisition Activity
During 2025, we completed acquisition activity for immaterial aggregate cash consideration, net of cash acquired.
The primary reasons for these transactions were to acquire technologies and know-how to enable Amazon to serve customers more effectively or to expand our customer base.
Pro forma results of operations have not been presented because the effects of the 2025 transactions, individually and in the aggregate, were not material to our consolidated results of operations. Transaction-related costs were expensed as incurred and were not significant.
Goodwill
The goodwill resulting from the acquisition activity is primarily related to expected improvements in technology performance and functionality, as well as sales growth from future product and service offerings and new customers, together with certain intangible assets that do not qualify for separate recognition. The goodwill resulting from the acquisition activity is generally not deductible for tax purposes. The following summarizes our goodwill activity in 2024 and 2025 by segment (in millions):
North
America		InternationalAWSConsolidated
Goodwill - January 1, 2024$19,126 $2,412 $1,251 $22,789 
Acquisition activity191 77 52 320 
Other adjustments (1)(28)(4)(3)(35)
Goodwill - December 31, 202419,289 2,485 1,300 23,074 
Acquisition activity25 85 2 112 
Other adjustments (1)49 8 30 87 
Goodwill - December 31, 2025$19,363 $2,578 $1,332 $23,273 
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(1)Primarily includes changes in foreign exchange rates.
Intangible Assets
Acquired identifiable intangible assets are valued primarily by using discounted cash flows. These assets are included within “Other assets” on our consolidated balance sheets and consist of the following (in millions):
 
 December 31,
 20242025
  
Acquired
Intangibles,
Gross (1)		Accumulated
Amortization (1)		Acquired
Intangibles,
Net		Acquired
Intangibles,
Gross (1)		Accumulated
Amortization (1)		Acquired
Intangibles,
Net		Weighted
Average Life
Remaining
Finite-lived intangible assets (2):
Marketing-related$2,629 $(860)$1,769 $2,402 $(754)$1,648 16.5
Contract-based5,767 (1,541)4,226 7,068 (1,957)5,111 16.6
Technology- and content-based1,246 (284)962 1,463 (605)858 3.1
Customer-related764 (282)482 654 (237)417 5.2
Total finite-lived intangible assets$10,406 $(2,967)$7,439 $11,587 $(3,553)$8,034 14.5
IPR&D and other (3)$1,163  $1,163 $1,163  $1,163 
Total acquired intangibles $11,569 $(2,967)$8,602 $12,750 $(3,553)$9,197 
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(1)Excludes the original cost and accumulated amortization of fully-amortized intangibles.
(2)Finite-lived intangible assets, excluding acquired video content, have estimated useful lives of between one and forty years, and are being amortized to operating expenses on a straight-line basis.
(3)Intangible assets acquired in a business combination that are in-process and used in research and development activities (“IPR&D”) are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we reclassify the cost of the IPR&D assets to finite-lived intangible assets, determine the useful life, and begin amortization.
Amortization expense for acquired finite-lived intangibles was $706 million, $838 million, and $817 million in 2023, 2024, and 2025. Expected future amortization expense of acquired finite-lived intangible assets as of December 31, 2025, is as follows (in millions):
 
Year Ended December 31,
2026$1,085 
2027962 
2028764 
2029690 
2030593 
Thereafter3,940 
$8,034