Analyzing Amazon.com's Balance Sheet

Prior to beginning work on this discussion, read Amazon.com's most recent Annual Report

Go to Amazon.com, select the Investor Relations link near the bottom of the web page, then select Annual Reports, Proxies and Shareholders Letters, and open Amazons most recent annual report. Discuss in a minimum post of at least 200 words how Amazon's use of capital leases to purchase property, plant & equipment (PPT) overstates its cash flow metrics, after reading Notes 1 & 3 to Consolidated Financial Statements in Amazons.com Consolidated Balance Sheet:

• Note 1Description of Business and Accounting Policies, and the two subsections titled Property and Equipment, Net and Leases and Asset Retirement Obligations.
• Note 3Property and Equipment