Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Amazon.com Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Accounts payable	94,363)	84,981)	79,600)	78,664)	72,539)
Current portion of lease liabilities, operating leases	10,546)	8,419)	7,458)	6,349)	4,586)
Current portion of lease liabilities, finance leases	1,375)	2,032)	4,397)	8,083)	10,374)
Current portion of long-term debt	5,017)	8,494)	2,999)	1,491)	1,155)
Other	50,027)	45,764)	47,712)	35,852)	28,023)
Accrued expenses and other	66,965)	64,709)	62,566)	51,775)	44,138)
Unearned revenue	18,103)	15,227)	13,227)	11,827)	9,708)
Current liabilities	179,431)	164,917)	155,393)	142,266)	126,385)
Long-term lease liabilities, operating leases, excluding current portion	69,050)	67,220)	61,582)	51,981)	34,513)
Long-term lease liabilities, finance leases, excluding current portion	9,227)	10,077)	11,386)	15,670)	18,060)
Long-term lease liabilities, excluding current portion	78,277)	77,297)	72,968)	67,651)	52,573)
Long-term debt, excluding current portion	52,623)	58,314)	67,150)	48,744)	31,816)
Other long-term liabilities	28,593)	25,451)	21,121)	23,643)	17,017)
Long-term liabilities	159,493)	161,062)	161,239)	140,038)	101,406)
Total liabilities	338,924)	325,979)	316,632)	282,304)	227,791)
Preferred stock, $0.01 par value; no shares issued or outstanding	—)	—)	—)	—)	—)
Common stock, $0.01 par value	111)	109)	108)	5)	5)
Treasury stock, at cost	(7,837)	(7,837)	(7,837)	(1,837)	(1,837)
Additional paid-in capital	120,864)	99,025)	75,066)	55,538)	42,865)
Accumulated other comprehensive loss	(34)	(3,040)	(4,487)	(1,376)	(180)
Retained earnings	172,866)	113,618)	83,193)	85,915)	52,551)
Stockholders’ equity	285,970)	201,875)	146,043)	138,245)	93,404)
Total liabilities and stockholders’ equity	624,894)	527,854)	462,675)	420,549)	321,195)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Liabilities Analysis: Current liabilities have shown a consistent upward trend from 126,385 million US dollars in 2020 to 179,431 million US dollars in 2024. Accounts payable increased steadily each year, reaching 94,363 million US dollars in 2024, indicating growing obligations to suppliers or vendors. The current portion of lease liabilities related to operating leases rose significantly, more than doubling from 4,586 million to 10,546 million US dollars over the period, suggesting increased lease commitments for operational use. Conversely, the current portion of finance lease liabilities declined substantially, dropping from 10,374 million to 1,375 million US dollars, which may indicate repayment or reclassification of these liabilities. Current portion of long-term debt showed volatility, peaking at 8,494 million in 2023 before falling to 5,017 million in 2024.
Long-term Liabilities: Long-term liabilities excluding current portions experienced growth overall from 101,406 million to a peak of 161,239 million in 2022, before slightly declining to 159,493 million in 2024. Operating lease liabilities long-term portion increased steadily from 34,513 million to 69,050 million, reflecting higher long-term lease obligations. In contrast, long-term finance lease liabilities consistently decreased from 18,060 million to 9,227 million, which aligns with the reduction in current finance lease liabilities, indicating a broader strategy of reducing finance lease exposure. Long-term debt excluding the current portion rose significantly from 31,816 million to a peak of 67,150 million in 2022 but then declined to 52,623 million in 2024. Other long-term liabilities showed a gradual increase, indicating additional long-term obligations rising modestly throughout the years.
Total Liabilities: Total liabilities grew substantially, from 227,791 million in 2020 to 338,924 million in 2024, reflecting increased leverage and financial obligations, likely supporting ongoing operational expansion and business activities.
Equity Components: Common stock remained relatively stable in nominal terms, increasing slightly from 5 million to 111 million. Treasury stock was constant at a cost of -7,837 million since 2022 after a prior increase from -1,837 million. Additional paid-in capital showed a robust increase, nearly tripling from 42,865 million to 120,864 million, indicating substantial capital infusions or equity issuance over the period. The accumulated other comprehensive loss improved substantially from a loss of -4,487 million in 2022 to near neutrality at -34 million in 2024, implying reduced unrealized losses or other comprehensive income improvements. Retained earnings displayed strong growth, moving from 52,551 million to 172,866 million, reflecting increased profitability and earnings retention.
Total Stockholders’ Equity and Capital Structure: Stockholders’ equity increased markedly, from 93,404 million to 285,970 million, indicating enhanced net worth and strengthened capital base. The total of liabilities and stockholders’ equity expanded significantly from 321,195 million to 624,894 million, consistent with overall balance sheet growth and scaling of business operations.
General Observations: The financial data reveal consistent growth in liabilities, both current and long-term, particularly due to lease obligations and debt. The reduction in finance lease liabilities suggests a strategic shift in lease financing. Equity growth, led by significant increases in retained earnings and additional paid-in capital, outweighs liability increases, resulting in a stronger equity position. The marked improvement in accumulated other comprehensive loss signals better comprehensive return management. Overall, the company demonstrates expanding operational scale, increased financial obligations mostly linked to leases, a solidifying equity base, and enhanced earnings retention across the period.

Download chart

Amazon.com Inc. (NASDAQ:AMZN)

Balance Sheet: Liabilities and Stockholders’ Equity