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AMZN » Topics » Foreign Exchange

This excerpt taken from the AMZN 8-K filed Jan 29, 2009.

Foreign Exchange

 

  •  

The effect on our consolidated statements of operations from year-over-year changes in exchange rates versus the U.S. dollar throughout the period is as follows:

 

     Three Months Ended December 31,
     2008    2007
     At Prior
Year
Rates (1)		    Exchange
Rate
Effect (2)		     As
Reported		    At Prior
Year
Rates (1)		    Exchange
Rate
Effect (2)		    As
Reported
     (in millions, except per share data)

Net sales

    $ 7,024    $ (320 )   $ 6,704    $ 5,478    $ 195    $ 5,673

Gross profit

      1,407      (59 )     1,348      1,134      36      1,170

Operating expenses

      1,109      (33 )     1,076      877      22      899

Income from operations

      298      (26 )     272      257      14      271

Net interest income (expense) and other (3)

      7      23       30      8      2      10

Net income

      227      (2 )     225      195      12      207

Diluted earnings per share

    $ 0.53    $ (0.01 )   $ 0.52    $ 0.45    $ 0.03    $ 0.48

 

(1) Represents the outcome that would have resulted had exchange rates in the reported period been the same as those in effect in the comparable prior year period for operating results, and if we did not incur the variability associated with remeasurements for our 6.875% PEACS and intercompany balances.

 

(2) Represents the increase or decrease in reported amounts resulting from changes in exchange rates from those in effect in the comparable prior year period for operating results, and if we did not incur the variability associated with remeasurements for our 6.875% PEACS and intercompany balances.

 

(3) Includes foreign-currency gains and losses on cross-currency investments, remeasurement of 6.875% PEACS, and intercompany balances.

 

Page 14 of 17

This excerpt taken from the AMZN 8-K filed Oct 22, 2008.

Foreign Exchange

 

  •  

The effect on our consolidated statements of operations from year-over-year changes in exchange rates versus the U.S. dollar throughout the period is as follows:

 

     Three Months Ended September 30,  
     2008    2007  
     At Prior
Year
Rates (1)		    Exchange
Rate
Effect (2)		    As
Reported		    At Prior
Year
Rates (1)		     Exchange
Rate
Effect (2)		     As
Reported		  
     (in millions)  

Net sales

    $ 4,184    $ 80    $ 4,264    $ 3,187     $ 75     $ 3,262  

Gross profit

      984      15      999      747       15       762  

Operating expenses

      835      10      845      628       11       639  

Income from operations

      149      5      154      118       5       123  

Net interest income (expense) and other (3)

      3      25      28      (4 )     (1 )     (5 )

Net income

      98      20      118      78       2       80  

Diluted earnings per share

    $ 0.22    $ 0.05    $ 0.27    $ 0.18     $ 0.01     $ 0.19  

 
(1)    Represents the outcome that would have resulted had exchange rates in the reported period been the same as those in effect in the comparable prior year period for operating results, and if we did not incur the variability associated with remeasurements for our 6.875% PEACS and intercompany balances.
(2)    Represents the increase or decrease in reported amounts resulting from changes in exchange rates from those in effect in the comparable prior year period for operating results, and if we did not incur the variability associated with remeasurements for our 6.875% PEACS and intercompany balances.
(3)    Includes foreign-currency gains and losses on cross-currency investments, remeasurement of 6.875% PEACS, and intercompany balances.
This excerpt taken from the AMZN 8-K filed Jul 23, 2008.

Foreign Exchange

 

  •  

The effect on our consolidated statements of operations from year-over-year changes in exchange rates versus the U.S. dollar throughout the period is as follows:

 

     Three Months Ended June 30,  
     2008     2007  
     At Prior
Year
Rates (1)		     Exchange
Rate
Effect (2)		     As
Reported		     At Prior
Year
Rates (1)		     Exchange
Rate
Effect (2)		     As
Reported		  
     (in millions)  

Net sales

    $ 3,881     $ 182     $ 4,063     $ 2,840     $ 46     $ 2,886  

Gross profit

      928       39       967       691       10       701  

Operating expenses

      728       22       750       578       7       585  

Income from operations

      200       17       217       113       3       116  

Net interest income (expense) and other (3)

      (1 )     (8 )     (9 )     (3 )     (2 )     (5 )

Net income

      151       7       158       77       1       78  

Diluted earnings per share

    $ 0.35     $ 0.02     $ 0.37     $ 0.19     $ —       $ 0.19  

 

(1) Represents the outcome that would have resulted had exchange rates in the reported period been the same as those in effect in the comparable prior year period for operating results, and if we did not incur the variability associated with remeasurements for our 6.875% PEACS and intercompany balances.

 

(2) Represents the increase or decrease in reported amounts resulting from changes in exchange rates from those in effect in the comparable prior year period for operating results, and if we did not incur the variability associated with remeasurements for our 6.875% PEACS and intercompany balances.

 

(3) Includes foreign-currency gains and losses on cross-currency investments, remeasurement of 6.875% PEACS, and intercompany balances.
This excerpt taken from the AMZN 8-K filed Feb 1, 2007.

Foreign Exchange

 

  •   The effect on our consolidated statements of operations from year-over-year changes in exchange rates versus the U.S. dollar throughout the period is as follows:

 

     Q4 2006    Q4 2005
    

At Prior

Year
Rates (1)

    Exchange
Rate
Effect (2)		    As
Reported		    At Prior
Year
Rates (1)		    Exchange
Rate
Effect (2)		     As
Reported

Net sales

    $ 3,864    $ 122    $ 3,986    $ 3,098    $ (121 )   $ 2,977

Gross profit

      829      21      850      690      (23 )     667

Operating expenses

      640      13      653      514      (12 )     502

Income from operations

      189      8      197      177      (12 )     165

Net interest expense and other (3)

      2      7      9      11      (3 )     8

Remeasurements and other income (4)

      1      —        1      1      3       4

Net income

      97      1      98      207      (8 )     199

Diluted earnings per share

    $ 0.23    $ —      $ 0.23    $ 0.49    $ (0.02 )   $ 0.47
(1) Represents the outcome that would have resulted had currency exchange rates in the current period been the same as those in effect in the comparable prior year period for operating results, and if we did not incur the variability associated with remeasurements for our 6.875% PEACS and intercompany balances.

 

Page 15 of 18

(2) Represents the increase or decrease in reported amounts resulting from changes in exchange rates from those in effect in the comparable prior year period for operating results, and if we did not incur the variability associated with remeasurements for our 6.875% PEACS and intercompany balances.

 

(3) Includes foreign-currency gains and losses on cross-currency investments.

 

(4) Includes foreign-currency gains and losses on remeasurement of 6.875% PEACS and intercompany balances.
This excerpt taken from the AMZN 8-K filed Feb 2, 2005.

Foreign Exchange

 

  •   As our financial reporting currency is the U.S. Dollar, our total sales, profit, and operating and free cash flow have benefited significantly the past ten quarters from weakness in the U.S. Dollar in comparison to the currencies of our international websites. We believe it is important to evaluate our growth rates after the effect of currency changes.

 

The effect of changes in exchange rates in the fourth quarter is as follows (in millions):

 

     2003
     2004
  

Effect of exchange rate on:

                 

Net sales

    $ 98     $ 85  

Gross profit

      17       14  

Operating expenses

      (11 )     (9 )
    
 

Operating income

      6       5  

Net interest expense and other

      (6 )     (5 )

Remeasurements and other (1)

      (30 )     (33 )
    
 

Net income (loss)

      (29 )     (32 )

Diluted earnings (loss) per diluted share

    $ (0.07 )   $ (0.08 )
    
 
(1) Includes foreign-currency gains (losses) on remeasurement of 6.875% PEACS and intercompany balances.

 

These amounts represent the impact on reported results that is due to year-over-year changes in exchange rates. Absent year-over-year changes in exchange rates, reported amounts would have been lower (higher) by these amounts.

 

EXCERPTS ON THIS PAGE:

8-K
Jan 29, 2009
8-K
Oct 22, 2008
8-K
Jul 23, 2008
8-K
Feb 1, 2007
8-K
Feb 2, 2005

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