1. Compare the A/R TO and A/P TO

1. What implications for cash flows do you observe?

AMAZON.COM, INC.

CONSOLIDATED BALANCE SHEETS

(in millions, except per share data)

			December 31,
			2020						2021
ASSETS
Current assets:
Cash and cash equivalents			$	42,122					$	36,220
Marketable securities			42,274						59,829
Inventories			23,795						32,640
Accounts receivable, net and other			24,542						32,891
Total current assets			132,733						161,580
Property and equipment, net			113,114						160,281
Operating leases			37,553						56,082
Goodwill			15,017						15,371
Other assets			22,778						27,235
Total assets			$	321,195					$	420,549
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
Accounts payable			$	72,539					$	78,664
Accrued expenses and other			44,138						51,775
Unearned revenue			9,708						11,827
Total current liabilities			126,385						142,266
Long-term lease liabilities			52,573						67,651
Long-term debt			31,816						48,744
Other long-term liabilities			17,017						23,643
Commitments and contingencies (Note 7)
Stockholders equity:
Preferred stock, $0.01 par value:
Authorized shares 500
Issued and outstanding shares none
Common stock, $0.01 par value:
Authorized shares 5,000
Issued shares 527 and 532
Outstanding shares 503 and 509			5						5
Treasury stock, at cost			(1,837)						(1,837)
Additional paid-in capital			42,865						55,538
Accumulated other comprehensive income (loss)			(180)						(1,376)
Retained earnings			52,551						85,915
Total stockholders equity			93,404						138,245
Total liabilities and stockholders equity			$	321,195					$	420,549