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Segment Information (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Information on Reportable Segments and Reconciliation to Consolidated Net Income
Information on reportable segments and reconciliation to consolidated net income is as follows (in millions):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202520242025
North America
Net sales$95,537 $106,267 $271,911 $299,222 
Operating expenses89,874 101,478 256,200 281,075 
Operating income$5,663 $4,789 $15,711 $18,147 
International
Net sales$35,888 $40,896 $99,486 $111,170 
Operating expenses34,587 39,697 97,009 107,460 
Operating income$1,301 $1,199 $2,477 $3,710 
AWS
Net sales$27,452 $33,006 $78,770 $93,146 
Operating expenses17,005 21,572 49,568 60,005 
Operating income$10,447 $11,434 $29,202 $33,141 
Consolidated
Net sales$158,877 $180,169 $450,167 $503,538 
Operating expenses141,466 162,747 402,777 448,540 
Operating income17,411 17,422 47,390 54,998 
Total non-operating income (expense)626 10,748 (1,125)15,708 
Provision for income taxes(2,706)(6,910)(6,940)(14,141)
Equity-method investment activity, net of tax(3)(73)(81)(87)
Net income$15,328 $21,187 $39,244 $56,478 
Disaggregation of Revenue
Net sales by groups of similar products and services, which also have similar economic characteristics, is as follows (in millions):    
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202520242025
Net Sales:
Online stores (1)$61,411 $67,407 $171,473 $186,299 
Physical stores (2)5,228 5,578 15,636 16,706 
Third-party seller services (3)37,864 42,486 108,661 119,346 
Advertising services (4)14,331 17,703 38,926 47,318 
Subscription services (5)11,278 12,574 32,866 36,497 
AWS27,452 33,006 78,770 93,146 
Other (6)1,313 1,415 3,835 4,226 
Consolidated$158,877 $180,169 $450,167 $503,538 
____________________________
(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.
Reconciliation of Assets from Segment to Consolidated
Total segment assets reconciled to consolidated amounts are as follows (in millions):
 December 31, 2024September 30, 2025
North America (1)$210,120 $227,984 
International (1)69,487 79,221 
AWS (2)155,953 223,729 
Corporate189,334 196,987 
Consolidated$624,894 $727,921 
___________________
(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, 2024September 30, 2025
North America$103,041 $115,661 
International25,618 29,488 
AWS110,683 165,106 
Corporate13,323 14,180 
Consolidated$252,665 $324,435 
Reconciliation of Property and Equipment Additions and Depreciation from Segments to Consolidated
Total net additions to property and equipment are as follows (in millions):
Three Months Ended
September 30,
Nine Months Ended
September 30,
 2024202520242025
North America (1)$6,522 $8,638 $16,602 $25,006 
International (1)2,185 1,439 4,422 5,476 
AWS (2)14,341 28,301 35,023 64,808 
Corporate349 507 1,101 1,805 
Consolidated$23,397 $38,885 $57,148 $97,095 
___________________
(1)Includes property and equipment added under finance leases of $182 million and $432 million in Q3 2024 and Q3 2025, and $324 million and $507 million for the nine months ended September 30, 2024 and 2025.
(2)Includes property and equipment added under finance leases of $4 million and $545 million in Q3 2024 and Q3 2025, and $85 million and $1.5 billion for the nine months ended September 30, 2024 and 2025.
Total depreciation and amortization expense, by segment, is as follows (in millions):
 Three Months Ended
September 30,
Nine Months Ended
September 30,
 2024202520242025
North America$3,611 $4,001 $10,501 $11,273 
International1,164 1,276 3,267 3,592 
AWS3,541 5,648 9,458 14,882 
Consolidated$8,316 $10,925 $23,226 $29,747