v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Information on Reportable Segments and Reconciliation to Consolidated Net Income (Loss)
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
  
Year Ended December 31,
 202320242025
North America
Net sales$352,828 $387,497 $426,305 
Operating expenses337,951 362,530 396,686 
Operating income$14,877 $24,967 $29,619 
International
Net sales$131,200 $142,906 $161,894 
Operating expenses133,856 139,114 157,144 
Operating income (loss)$(2,656)$3,792 $4,750 
AWS
Net sales$90,757 $107,556 $128,725 
Operating expenses66,126 67,722 83,119 
Operating income$24,631 $39,834 $45,606 
Consolidated
Net sales$574,785 $637,959 $716,924 
Operating expenses537,933 569,366 636,949 
Operating income36,852 68,593 79,975 
Total non-operating income705 21 17,336 
Provision for income taxes(7,120)(9,265)(19,087)
Equity-method investment activity, net of tax(12)(101)(554)
Net income$30,425 $59,248 $77,670 
Disaggregation of Revenue
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):
  
Year Ended December 31,
 202320242025
Net Sales:
Online stores (1)$231,872 $247,029 $269,287 
Physical stores (2)20,030 21,215 22,561 
Third-party seller services (3)140,053 156,146 172,162 
Advertising services (4)46,906 56,214 68,635 
Subscription services (5)40,209 44,374 49,619 
AWS90,757 107,556 128,725 
Other (6)4,958 5,425 5,935 
Consolidated$574,785 $637,959 $716,924 
___________________
(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.
Net Sales Attributed to Countries that Represent a Significant Portion of Consolidated Net Sales
Net sales attributed to countries that represent a significant portion of consolidated net sales are as follows (in millions):
 Year Ended December 31,
 202320242025
United States$395,637 $438,015 $489,657 
Germany37,588 40,856 45,900 
United Kingdom33,591 37,855 43,212 
Japan26,002 27,401 30,688 
Rest of world81,967 93,832 107,467 
Consolidated$574,785 $637,959 $716,924 
Reconciliation of Assets from Segment to Consolidated
Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31,
 202320242025
North America (1)$196,029 $210,120 $235,652 
International (1)69,718 69,487 81,984 
AWS (2)108,533 155,953 252,588 
Corporate153,574 189,334 247,818 
Consolidated$527,854 $624,894 $818,042 
___________________
(1)North America and International segment assets primarily consist of property and equipment, operating leases, inventory, accounts receivable, and digital video and music content.
(2)AWS segment assets primarily consist of property and equipment, accounts receivable, and operating leases.
Reconciliation of Property and Equipment from Segments to Consolidated
Property and equipment, net by segment is as follows (in millions):
 December 31,
 202320242025
North America$93,632 $103,041 $122,043 
International24,357 25,618 30,632 
AWS72,701 110,683 190,055 
Corporate13,487 13,323 14,295 
Consolidated$204,177 $252,665 $357,025 
Reconciliation of Property and Equipment Additions and Depreciation from Segments to Consolidated
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):
 Year Ended December 31,
 202320242025
North America (1)$17,529 $24,348 $35,919 
International (1)4,144 6,643 7,617 
AWS (2)24,843 53,267 96,496 
Corporate1,828 1,494 2,320 
Consolidated$48,344 $85,752 $142,352 
___________________
(1)Includes property and equipment added under finance leases of $525 million, $616 million, and $1.0 billion in 2023, 2024, and 2025, and under build-to-suit lease arrangements of $356 million, $89 million, and $20 million in 2023, 2024, and 2025.
(2)Includes property and equipment added under finance leases of $117 million, $238 million, and $1.9 billion in 2023, 2024, and 2025, and under build-to-suit lease arrangements of $1 million, $8 million, and $421 million in 2023, 2024, and 2025.
Total depreciation and amortization expense, by segment, is as follows (in millions):
 Year Ended December 31,
 202320242025
North America$13,678 $14,285 $15,503 
International4,016 4,462 4,907 
AWS12,531 13,320 21,450 
Consolidated$30,225 $32,067 $41,860