AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD OPERATING ACTIVITIES: Net income Year Ended December 31, 2019 2020 2021 32,173 $ 36,410 $ 42,377 11,588 21,331 33,364 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 21,789 25,251 34,296 Stock-based compensation 6,864 9,208 12,757 Other operating expense (income), net 164 (71) 137 Other expense (income), net Deferred income taxes Changes in operating assets and liabilities: Inventories Accounts receivable, net and other (249) (2,582) (14,306) 796 (554) (310) (3,278) (2,849) (9,487) (7,681) (8,169) (18,163) Accounts payable 8,193 17,480 3,602 Accrued expenses and other (1,383) 5,754 2,123 Unearned revenue 1,711 1,265 2,314 Net cash provided by (used in) operating activities 38,514 66,064 46,327 INVESTING ACTIVITIES: Purchases of property and equipment (16,861) (40,140) (61,053) Proceeds from property and equipment sales and incentives 4,172 5,096 5,657 Acquisitions, net of cash acquired, and other (2,461) (2,325) (1,985) Sales and maturities of marketable securities 22,681 50,237 59,384 Purchases of marketable securities (31,812) (72,479) (60,157) Net cash provided by (used in) investing activities (24,281) (59,611) (58,154) FINANCING ACTIVITIES: Proceeds from short-term debt, and other 1,402 6,796 7,956 Repayments of short-term debt, and other (1,518) (6,177) (7,753) Proceeds from long-term debt Repayments of long-term debt Principal repayments of finance leases Principal repayments of financing obligations Net cash provided by (used in) financing activities Foreign currency effect on cash, cash equivalents, and restricted cash Net increase (decrease) in cash, cash equivalents, and restricted cash CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD See accompanying notes to consolidated financial statements. 871 10,525 19,003 (1,166) (1,553) (1,590) (9,628) (10,642) (11,163) (27) (53) (162) (10,066) (1,104) 6,291 70 618 (364) 4,237 5,967 (5,900) $ 36,410 $ 42,377 $ 36,477