# embeddings_queue

created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8af6ca-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 82, "chroma:document": "Table of Contents\nItem 7A.Quantitative and Qualitative Disclosures About Market Risk\nWe are exposed to market risks, including changes to foreign currency exchange rates, interest rates, and equity price risk.\nForeign Currency Exchange Risk\nWe have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, primarily the Euro.\nAccordingly, changes in exchange rates, and in particular a strengthening of the U.S. dollar, have in the past, and may in the future, negatively affect our\nrevenue and other operating results as expressed in U.S. dollars. See Management's Discussion and Analysis of Financial Condition and Results of Operations\n\u2014 Foreign Exchange Impact on Revenue section included in Part II, Item 7 of this Annual Report on Form 10-K for additional information.\nWe have experienced and will continue to experience fluctuations in our net income as a result of transaction gains or losses related to remeasuring\nmonetary asset and liability balances that are denominated in currencies other than the functional currency of the entities in which they are recorded. At this\ntime, we have not entered into, but in the future we may enter into, derivatives or other financial instruments in an attempt to hedge our foreign currency\nexchange risk. It is difficult to predict the effect hedging activities would have on our results of operations. Foreign currency exchange net losses of\n$366 million, $81 million, and $140 million were recognized in 2023, 2022, and 2021, respectively.\nInterest Rate Sensitivity\nOur exposure to changes in interest rates relates primarily to interest income and market value of our cash equivalents, marketable debt securities, and\nthe fair value of our long-term debt.\nOur cash, cash equivalents, and marketable debt securities consist of cash, time deposits, money market funds, U.S. government securities, U.S.\ngovernment agency securities, and investment grade corporate debt securities. Our investment policy and strategy are focused on preservation of capital and\nsupporting our liquidity requirements. Changes in U.S. interest rates affect the interest earned on our cash, cash equivalents, and marketable securities, and the\nmarket value of those securities. A hypothetical 100 basis point increase in market interest rates would have resulted in a decrease of $355 million and\n$558 million in the market value of our available-for-sale debt securities and cash equivalents as of December 31, 2023 and 2022, respectively. Any realized"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8af72e-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 82, "chroma:document": "gains or losses resulting from such interest rate changes and from the current unrealized gains or losses would only occur if we sold the investments prior to\nmaturity.\nAs of December 31, 2023 and 2022, we also had aggregate principal amounts of fixed-rate senior notes (the Notes) outstanding of $18.50 billion and\n$10.00 billion, respectively. Since our Notes bear interest at fixed rates and are carried at amortized cost, fluctuations in interest rates do not have any impact\non our consolidated financial statements. However, the fair value of the Notes will fluctuate with movements in market interest rates, increasing in periods of\ndeclining interest rates and declining in periods of increasing interest rates.\n82"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8af788-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 83, "chroma:document": "Table of Contents\nEquity Price Risk\nOur equity investments are in non-marketable equity securities and are subject to equity price risks that could have a material impact on the carrying\nvalue of our holdings.\nOur non-marketable equity securities are investments in privately-held companies without readily determinable fair values. We elected to account for\nsubstantially all of our non-marketable equity securities using the measurement alternative, which is cost, less any impairment, adjusted for changes in fair\nvalue resulting from observable transactions for identical or similar investments of the same issuer. We perform a qualitative assessment at each reporting date\nto determine whether there are triggering events for impairment. The qualitative assessment considers factors such as, but not limited to, the investee's financial\ncondition and business outlook; industry and sector performance; economic or technological environment; and other relevant events and factors affecting the\ninvestee. Valuations of our non-marketable equity securities are complex due to the lack of readily available market data and observable transactions.\nUncertainties in the global economic climate and financial markets could adversely impact the valuation of these companies we invest in and, therefore, result\nin a material impairment or downward adjustment in our investments. Our total non-marketable equity securities, which mostly consists of our investment in\nJio Platforms Limited, had a carrying value of $6.14 billion and $6.20 billion as of December 31, 2023 and 2022, respectively.\nFor additional information, see Note 1 \u2014 Summary of Significant Accounting Policies, Note 5 \u2014 Financial Instruments, Note 6 \u2014 Non-marketable\nEquity Securities, and Note 10 \u2014 Long-term Debt in the notes to the consolidated financial statements included in Part II, Item 8, \"Financial Statements and\nSupplementary Data\" and Part II, Item 7, \"Management\u2019s Discussion and Analysis of Financial Conditions and Results of Operations \u2014 Critical Accounting\nEstimates\" contained in this Annual Report on Form 10-K.\n83"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 84, "chroma:document": "Table of Contents\nItem 8.Financial Statements and Supplementary Data\nMETA PLATFORMS, INC.\n \nINDEX TO CONSOLIDATED FINANCIAL STATEMENTS\n \nPage\nReports of Independent Registered Public Accounting Firm (PCAOB ID No. 42) 85\nConsolidated Financial Statements:\nConsolidated Balance Sheets 89\nConsolidated Statements of Income 90\nConsolidated Statements of Comprehensive Income 91\nConsolidated Statements of Stockholders' Equity 92\nConsolidated Statements of Cash Flows 93\nNotes to Consolidated Financial Statements 95\n \n84"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 85, "chroma:document": "Table of Contents\nReport of Independent Registered Public Accounting Firm\nTo the Stockholders and the Board of Directors of Meta Platforms, Inc.\nOpinion on the Financial Statements\nWe have audited the accompanying consolidated balance sheets of Meta Platforms, Inc. (the Company) as of December 31, 2023 and 2022, the related\nconsolidated statements of income, comprehensive income, stockholders' equity and cash flows for each of the three years in the period ended December 31,\n2023, and the related notes (collectively referred to as the \"consolidated financial statements\"). In our opinion, the consolidated financial statements present\nfairly, in all material respects, the financial position of the Company at December 31, 2023 and 2022, and the results of its operations and its cash flows for\neach of the three years in the period ended December 31, 2023, in conformity with U.S. generally accepted accounting principles.\nWe also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal\ncontrol over financial reporting as of December 31, 2023, based on criteria established in Internal Control \u2013 Integrated Framework issued by the Committee of\nSponsoring Organizations of the Treadway Commission (2013 framework), and our report dated February 1, 2024, expressed an unqualified opinion thereon.\nBasis for Opinion\nThese financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial\nstatements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in\naccordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.\nWe conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable\nassurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to\nassess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such\nprocedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8af8a0-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 85, "chroma:document": "the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We\nbelieve that our audits provide a reasonable basis for our opinion.\nCritical Audit Matters\nThe critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated or required\nto be communicated to the Audit & Risk Oversight Committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2)\ninvolved our especially challenging, subjective or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the\nconsolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the\ncritical audit matters or on the accounts or disclosures to which they relate.\n85"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8af92c-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 86, "chroma:document": "Table of Contents\nLoss Contingencies\nDescription of the MatterAs described in Note 12 to the consolidated financial statements, the Company is party to various legal proceedings, claims, and\nregulatory or government inquiries and investigations. The Company accrues a liability when it believes a loss is probable and the\namount can be reasonably estimated. In addition, the Company believes it is reasonably possible that it will incur a loss in some of\nthese cases, actions or inquiries described above. When applicable, the Company discloses an estimate of the amount of loss or\nrange of possible loss that may be incurred. However, for certain other matters, the Company discloses that the amount of such\nlosses or a range of possible losses cannot be reasonably estimated at this time.\nAuditing the Company's accounting for, and disclosure of, these loss contingencies was especially challenging due to the\nsignificant judgment required to evaluate management's assessments of the likelihood of a loss, and their estimate of the potential\namount or range of such losses.\nHow We Addressed the\nMatter in Our AuditWe obtained an understanding, evaluated the design and tested the operating effectiveness of controls over the identification and\nevaluation of these matters, including controls relating to the Company's assessment of the likelihood that a loss will be realized\nand their ability to reasonably estimate the potential range of possible losses.\nOur audit procedures included reading the minutes or a summary of the meetings of the committees of the board of directors,\nreading the proceedings, claims, and regulatory, or government inquiries and investigations, or summaries as we deemed\nappropriate, requesting and receiving internal and external legal counsel confirmation letters, meeting with internal and external\nlegal counsel to discuss the nature of the various matters, and obtaining representations from management. We also evaluated the\nappropriateness of the related disclosures included in Note 12 to the consolidated financial statements.\n86"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 87, "chroma:document": "Table of Contents\nUncertain Tax Positions\nDescription of the MatterAs discussed in Note 15 to the consolidated financial statements, the Company has received certain notices from the Internal\nRevenue Service (IRS) related to transfer pricing agreements with the Company's foreign subsidiaries for certain periods\nexamined. The IRS has stated that it will also apply its position to tax years subsequent to those examined. If the IRS prevails in\nits position, it could result in an additional federal tax liability, plus interest and any penalties asserted. The Company uses\njudgment to (1) determine whether a tax position's technical merits are more-likely-than-not to be sustained and (2) measure the\namount of tax benefit that qualifies for recognition.\nAuditing the Company's accounting for, and disclosure of, these uncertain tax positions was especially challenging due to the\nsignificant judgment required to assess management's evaluation of technical merits and the measurement of the tax position\nbased on interpretations of tax laws and legal rulings.\nHow We Addressed the\nMatter in Our AuditWe obtained an understanding, evaluated the design and tested the operating effectiveness of controls over the Company's process\nto assess the technical merits of tax positions related to these transfer pricing agreements and to measure the benefit of those tax\npositions.\nAs part of our audit procedures over the Company's accounting for these positions, we involved our tax professionals to assist\nwith our assessment of the technical merits of the Company's tax positions. This included assessing the Company's\ncorrespondence with the relevant tax authorities, evaluating income tax opinions or other third-party advice obtained by the\nCompany, and requesting and receiving confirmation letters from third-party advisors. We also used our knowledge of, and\nexperience with, the application of international and local income tax laws by the relevant income tax authorities to evaluate the\nCompany's accounting for those tax positions. We analyzed the Company's assumptions and data used to determine the amount of\nthe federal tax liability recognized and tested the mathematical accuracy of the underlying data and calculations. We also\nevaluated the appropriateness of the related disclosures included in Note 15 to the consolidated financial statements in relation to\nthese matters.\n/s/ Ernst & Young LLP\nWe have served as the Company's auditor since 2007.\nSan Mateo, California\nFebruary 1, 2024\n87"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 88, "chroma:document": "Table of Contents\nReport of Independent Registered Public Accounting Firm\nTo the Stockholders and the Board of Directors of Meta Platforms, Inc.\nOpinion on Internal Control over Financial Reporting\nWe have audited Meta Platforms, Inc.'s internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control \u2013\nIntegrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), (the COSO criteria). In our\nopinion, Meta Platforms, Inc. (the Company) maintained, in all material respects, effective internal control over financial reporting as of December 31, 2023,\nbased on the COSO criteria.\nWe also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated\nbalance sheets of the Company as of December 31, 2023 and 2022, the related consolidated statements of income, comprehensive income, stockholders' equity\nand cash flows for each of the three years in the period ended December 31, 2023, and the related notes and our report dated February 1, 2024 expressed an\nunqualified opinion thereon.\nBasis for Opinion\nThe Company's management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of\ninternal control over financial reporting included in the accompanying Management's Report on Internal Control over Financial Reporting. Our responsibility is\nto express an opinion on the Company's internal control over financial reporting based on our audit. We are a public accounting firm registered with the\nPCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and\nregulations of the Securities and Exchange Commission and the PCAOB.\nWe conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable\nassurance about whether effective internal control over financial reporting was maintained in all material respects.\nOur audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and\nevaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered\nnecessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.\nDefinition and Limitations of Internal Control Over Financial Reporting"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8afa3a-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 88, "chroma:document": "Definition and Limitations of Internal Control Over Financial Reporting\nA company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and\nthe preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over\nfinancial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect\nthe transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit\npreparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being\nmade only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or\ntimely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.\nBecause of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of\neffectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance\nwith the policies or procedures may deteriorate.\n/s/ Ernst & Young LLP\nSan Mateo, California\nFebruary 1, 2024\n88"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 89, "chroma:document": "Table of Contents\nMETA PLATFORMS, INC.\nCONSOLIDATED BALANCE SHEETS\n(In millions, except for number of shares and par value)\nDecember 31,\n 2023 2022\nAssets   \nCurrent assets:   \nCash and cash equivalents $ 41,862 $ 14,681 \nMarketable securities 23,541 26,057 \nAccounts receivable, net 16,169 13,466 \nPrepaid expenses and other current assets 3,793 5,345 \nTotal current assets 85,365 59,549 \nNon-marketable equity securities 6,141 6,201 \nProperty and equipment, net 96,587 79,518 \nOperating lease right-of-use assets 13,294 12,673 \nIntangible assets, net 788 897 \nGoodwill 20,654 20,306 \nOther assets 6,794 6,583 \nTotal assets $ 229,623 $ 185,727 \nLiabilities and stockholders' equity   \nCurrent liabilities:   \nAccounts payable $ 4,849 $ 4,990 \nPartners payable 863 1,117 \nOperating lease liabilities, current 1,623 1,367 \nAccrued expenses and other current liabilities 24,625 19,552 \nTotal current liabilities 31,960 27,026 \nOperating lease liabilities, non-current 17,226 15,301 \nLong-term debt 18,385 9,923 \nOther liabilities 8,884 7,764 \nTotal liabilities 76,455 60,014 \nCommitments and contingencies\nStockholders' equity:   \nCommon stock, $0.000006 par value; 5,000 million Class A shares authorized, 2,211 million and 2,247 million\nshares issued and outstanding, as of December 31, 2023 and 2022, respectively; 4,141 million Class B shares\nauthorized, 350 million and 367 million shares issued and outstanding, as of December 31, 2023 and 2022,\nrespectively \u2014 \u2014 \nAdditional paid-in capital 73,253 64,444 \nAccumulated other comprehensive loss (2,155) (3,530)"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8afaf8-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 89, "chroma:document": "Retained earnings 82,070 64,799 \nTotal stockholders' equity 153,168 125,713 \nTotal liabilities and stockholders' equity $ 229,623 $ 185,727 \nSee Accompanying Notes to Consolidated Financial Statements.\n89"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 90, "chroma:document": "Table of Contents\nMETA PLATFORMS, INC.\nCONSOLIDATED STATEMENTS OF INCOME\n(In millions, except per share amounts)\n Year Ended December 31,\n2023 2022 2021\nRevenue $ 134,902 $ 116,609 $ 117,929 \nCosts and expenses:   \nCost of revenue 25,959 25,249 22,649 \nResearch and development 38,483 35,338 24,655 \nMarketing and sales 12,301 15,262 14,043 \nGeneral and administrative 11,408 11,816 9,829 \nTotal costs and expenses 88,151 87,665 71,176 \nIncome from operations 46,751 28,944 46,753 \nInterest and other income (expense), net 677 (125) 531 \nIncome before provision for income taxes 47,428 28,819 47,284 \nProvision for income taxes 8,330 5,619 7,914 \nNet income $ 39,098 $ 23,200 $ 39,370 \nEarnings per share attributable to Class A and Class B common stockholders:    \nBasic $ 15.19 $ 8.63 $ 13.99 \nDiluted $ 14.87 $ 8.59 $ 13.77 \nWeighted-average shares used to compute earnings per share attributable to Class A\nand Class B common stockholders:\nBasic 2,574 2,687 2,815 \nDiluted 2,629 2,702 2,859 \nSee Accompanying Notes to Consolidated Financial Statements.\n90"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 91, "chroma:document": "Table of Contents\nMETA PLATFORMS, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(In millions)\nYear Ended December 31, \n2023 2022 2021\nNet income $ 39,098 $ 23,200 $ 39,370 \nOther comprehensive income (loss):\nChange in foreign currency translation adjustment, net of tax 618 (1,184) (1,116)\nChange in unrealized gain (loss) on available-for-sale investments and other, net of tax 757 (1,653) (504)\nComprehensive income $ 40,473 $ 20,363 $ 37,750 \nSee Accompanying Notes to Consolidated Financial Statements.\n91"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 92, "chroma:document": "Table of Contents\nMETA PLATFORMS, INC.\nCONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY\n(In millions)\nClass A and Class B\nCommon Stock\nAdditional\nPaid-In CapitalAccumulated\nOther\nComprehensive\nIncome (Loss)Retained\nEarningsTotal\nStockholders'\nEquity Shares Par Value\nBalances at December 31, 2020 2,849 $ \u2014 $ 50,018 $ 927 $ 77,345 $ 128,290 \nIssuance of common stock 45 \u2014 \u2014 \u2014 \u2014 \u2014 \nShares withheld related to net share settlement (17) \u2014 (3,371) \u2014 (2,144) (5,515)\nShare-based compensation \u2014 \u2014 9,164 \u2014 \u2014 9,164 \nShare repurchases (136) \u2014 \u2014 \u2014 (44,810) (44,810)\nOther comprehensive loss \u2014 \u2014 \u2014 (1,620) \u2014 (1,620)\nNet income \u2014 \u2014 \u2014 \u2014 39,370 39,370 \nBalances at December 31, 2021 2,741 \u2014 55,811 (693) 69,761 124,879 \nIssuance of common stock 54 \u2014 \u2014 \u2014 \u2014 \u2014 \nShares withheld related to net share settlement (20) \u2014 (3,359) \u2014 (236) (3,595)\nShare-based compensation \u2014 \u2014 11,992 \u2014 \u2014 11,992 \nShare repurchases (161) \u2014 \u2014 \u2014 (27,926) (27,926)\nOther comprehensive loss \u2014 \u2014 \u2014 (2,837) \u2014 (2,837)\nNet income \u2014 \u2014 \u2014 \u2014 23,200 23,200 \nBalances at December 31, 2022 2,614 \u2014 64,444 (3,530) 64,799 125,713 \nIssuance of common stock 65 \u2014 \u2014 \u2014 \u2014 \u2014 \nShares withheld related to net share settlement (26) \u2014 (5,218) \u2014 (1,794) (7,012)\nShare-based compensation \u2014 \u2014 14,027 \u2014 \u2014 14,027 \nShare repurchases (92) \u2014 \u2014 \u2014 (20,033) (20,033)\nOther comprehensive income \u2014 \u2014 \u2014 1,375 \u2014 1,375"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 92, "chroma:document": "Net income \u2014 \u2014 \u2014 \u2014 39,098 39,098 \nBalances at December 31, 2023 2,561 $ \u2014 $ 73,253 $ (2,155)$ 82,070 $ 153,168 \nSee Accompanying Notes to Consolidated Financial Statements.\n92"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 93, "chroma:document": "Table of Contents\nMETA PLATFORMS, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions)\nYear Ended December 31, \n2023 2022 2021\nCash flows from operating activities\nNet income $ 39,098 $ 23,200 $ 39,370 \nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 11,178 8,686 7,967 \nShare-based compensation 14,027 11,992 9,164 \nDeferred income taxes 131 (3,286) 609 \nImpairment charges for facilities consolidation, net 2,432 2,218 \u2014 \nData center assets abandonment (224) 1,341 \u2014 \nOther 635 641 (127)\nChanges in assets and liabilities:\nAccounts receivable (2,399) 231 (3,110)\nPrepaid expenses and other current assets 559 162 (1,750)\nOther assets (80) (106) (349)\nAccounts payable 51 210 1,436 \nPartners payable (271) 90 (12)\nAccrued expenses and other current liabilities 5,352 4,210 3,544 \nOther liabilities 624 886 941 \nNet cash provided by operating activities 71,113 50,475 57,683 \nCash flows from investing activities\nPurchases of property and equipment (27,266) (31,431) (18,690)\nProceeds relating to property and equipment 221 245 123 \nPurchases of marketable debt securities (2,982) (9,626) (30,407)\nSales and maturities of marketable debt securities 6,184 13,158 42,586 \nAcquisitions of businesses and intangible assets (629) (1,312) (851)\nOther investing activities (23) (4) (331)\nNet cash used in investing activities (24,495) (28,970) (7,570)\nCash flows from financing activities\nTaxes paid related to net share settlement of equity awards (7,012) (3,595) (5,515)\nRepurchases of Class A common stock (19,774) (27,956) (44,537)"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 93, "chroma:document": "Proceeds from issuance of long-term debt, net 8,455 9,921 \u2014 \nPrincipal payments on finance leases (1,058) (850) (677)\nOther financing activities (111) 344 1 \nNet cash used in financing activities (19,500) (22,136) (50,728)\nEffect of exchange rate changes on cash, cash equivalents, and restricted cash 113 (638) (474)\nNet increase (decrease) in cash, cash equivalents, and restricted cash 27,231 (1,269) (1,089)\nCash, cash equivalents, and restricted cash at beginning of the period 15,596 16,865 17,954 \nCash, cash equivalents, and restricted cash at end of the period $ 42,827 $ 15,596 $ 16,865 \nReconciliation of cash, cash equivalents, and restricted cash to the consolidated balance\nsheets\nCash and cash equivalents $ 41,862 $ 14,681 $ 16,601 \nRestricted cash, included in prepaid expenses and other current assets 99 294 149 \nRestricted cash, included in other assets 866 621 115 \nTotal cash, cash equivalents, and restricted cash $ 42,827 $ 15,596 $ 16,865 \n    \nSee Accompanying Notes to Consolidated Financial Statements.\n93"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8afddc-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 94, "chroma:document": "Table of Contents\nMETA PLATFORMS, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions)\nYear Ended December 31, \n2023 2022 2021\nSupplemental cash flow data\nCash paid for income taxes, net $ 6,607 $ 6,407 $ 8,525 \nCash paid for interest, net of amounts capitalized $ 448 $ \u2014 $ \u2014 \nNon-cash investing and financing activities:\nProperty and equipment in accounts payable and accrued expenses and other current\nliabilities $ 4,105 $ 3,319 $ 3,404 \nAcquisition of businesses in accrued expenses and other current liabilities and other\nliabilities $ 119 $ 291 $ 73 \nOther current assets through financing arrangement in accrued expenses and other\ncurrent liabilities $ 15 $ 16 $ 508 \nRepurchases of Class A common stock in accrued expenses and other current liabilities$ 474 $ 310 $ 340 \nSee Accompanying Notes to Consolidated Financial Statements.\n94"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8afe36-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 95, "chroma:document": "Table of Contents\nMETA PLATFORMS, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nNote 1. Summary of Significant Accounting Policies\nOrganization and Description of Business\nWe were incorporated in Delaware in July 2004. Our mission is to give people the power to build community and bring the world closer together. All of\nour products, including our apps, share the vision of helping to bring the metaverse to life.\nWe report our financial results based on two reportable segments: Family of Apps (FoA) and Reality Labs (RL). The segment information aligns with\nhow the chief operating decision maker (CODM), who is our chief executive officer (CEO), reviews and manages the business. We generate substantially all of\nour revenue from advertising.\nBasis of Presentation\nWe prepared the consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP). The consolidated financial\nstatements include the accounts of Meta Platforms, Inc., its subsidiaries where we have controlling financial interests, and any variable interest entities for\nwhich we are deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated.\nUse of Estimates\nPreparation of consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts\nin the consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets\nand liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other\nassumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not\nlimited to, those related to loss contingencies, income taxes, valuation of long-lived assets and their associated estimated useful lives, valuation of non-\nmarketable equity securities, revenue recognition, valuation of goodwill, credit losses of available-for-sale (AFS) debt securities and accounts receivable, and\nfair value of financial instruments and leases. These estimates are based on management's knowledge about current events, interpretation of regulations, and\nexpectations about actions we may undertake in the future. Actual results could differ materially from those estimates.\nRevenue Recognition\nWe recognize revenue under Accounting Standards Codification (ASC) 606 Revenue From Contracts With Customers. Revenue is recognized when\ncontrol of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8afe9a-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 95, "chroma:document": "those goods or services.\nSales commissions we pay in connection with contracts are expensed when incurred because the amortization period is one year or less. These costs are\nrecorded within marketing and sales on our consolidated statements of income. We do not disclose the value of unsatisfied performance obligations for\ncontracts with an original expected length of one year or less.\nRevenue includes sales and usage\u2011based taxes, except for cases where we are acting as a pass\u2011through agent.\nAdvertising Revenue\nAdvertising revenue is generated by displaying ad products on Facebook, Instagram, Messenger, and third-party mobile applications. Marketers pay for\nad products either directly or through their relationships with advertising agencies or resellers, based on the number of impressions delivered or the number of\nactions, such as clicks, taken by our users.\nWe recognize revenue from the display of impression-based ads in the contracted period in which the impressions are delivered. Impressions are\nconsidered delivered when an ad is displayed to users. We recognize revenue from the delivery of action-based ads in the period in which a user takes the\naction the marketer contracted for. In general, we report advertising\n95"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8afefe-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 96, "chroma:document": "Table of Contents\nrevenue on a gross basis, since we control the advertising inventory before it is transferred to our customers. Our control is evidenced by our sole ability to\nmonetize the advertising inventory before it is transferred to our customers.\nFor revenue generated from arrangements that involve third-parties, we evaluate whether we are the principal, and report revenue on a gross basis, or the\nagent, and report revenue on a net basis. In this assessment, we consider if we obtain control of the specified goods or services before they are transferred to the\ncustomer, as well as other indicators such as the party primarily responsible for fulfillment, inventory risk, and discretion in establishing price.\nWe may accept lower consideration than the amount promised per the contract for certain revenue transactions and certain customers may receive cash-\nbased incentives, credits, or refunds, which are accounted for as variable consideration when estimating the amount of revenue to recognize. We estimate these\namounts and reduce revenue based on the amounts expected to be provided to customers. We believe that there will not be significant changes to our estimates\nof variable consideration.\nReality Labs Revenue\nRL revenue is generated from the delivery of consumer hardware products, such as Meta Quest, wearables, and related software and content. Revenue is\nrecognized at the time control of the products is transferred to customers, which is generally at the time of delivery, in an amount that reflects the consideration\nRL expects to be entitled to in exchange for the products.\nOther Revenue\nOther revenue consists of revenue from WhatsApp Business Platform, net fees we receive from developers using our Payments infrastructure, and\nrevenue from various other sources.\nCost of Revenue\nOur cost of revenue consists of expenses associated with the delivery and distribution of our products. These mainly include expenses related to the\noperation of our data centers and technical infrastructure, such as depreciation expense from servers, network infrastructure and buildings, as well as payroll\nand related expenses which include share-based compensation for employees on our operations teams, and energy and bandwidth costs. Cost of revenue also\nincludes costs associated with partner arrangements, including traffic acquisition costs and credit card and other fees related to processing customer\ntransactions; RL inventory costs, which consist of cost of products sold and estimated losses on non-cancelable contractual commitments; and content costs.\nContent Costs\nOur content costs are mostly related to payments to content providers from whom we license video and music to increase engagement on the platform."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8aff62-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 96, "chroma:document": "We pay fees to these content providers based on revenue generated, a flat fee, or both. For licensed video, we expense the cost per title when the title is\naccepted and available for viewing if the capitalization criteria are not met. Video content costs that meet the criteria for capitalization were not material to\ndate.\nFor licensed music, we expense the license fees over the contractual license period. We pay fees to music partners based on revenue generated, minimum\nguaranteed fees, flat fees, or a combination thereof. Expensed content costs are included in cost of revenue on our consolidated statements of income.\nSoftware Development Costs\nSoftware development costs, including costs to develop software products or the software component of products to be marketed or sold to external\nusers, are expensed before the software or technology reach technological feasibility, which is typically reached shortly before the release of such products.\nSoftware development costs also include costs to develop software to be used solely to meet internal needs and applications used to deliver our services.\nThese software development costs meet the criteria for capitalization once the preliminary project stage is complete and it is probable that the project will be\ncompleted and the software will be used to perform the function intended. Software development costs that meet the criteria for capitalization were not material\nto date.\n96"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8affbc-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 97, "chroma:document": "Table of Contents\nShare-based Compensation\nShare-based compensation expense consists of the company's restricted stock units (RSUs) expense. RSUs granted to employees are measured based on\nthe grant-date fair value. In general, our RSUs vest over a service period of four years. Share-based compensation expense is generally recognized based on the\nstraight-line basis over the requisite service period and forfeitures are accounted for as they occur.\nIncome Taxes\nWe are subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining our provision for\nincome taxes and income tax assets and liabilities, including evaluating uncertainties in the application of accounting principles and complex tax laws.\nWe record a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method.\nUnder this method, we recognize deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial\nreporting and tax bases of assets and liabilities, as well as for loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax\nrates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. We recognize the\ndeferred income tax effects of a change in tax rates in the period of the enactment.\nWe record a valuation allowance to reduce our deferred tax assets to the net amount that we believe is more likely than not to be realized. We consider\nall available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable\nincome and ongoing tax planning strategies in assessing the need for a valuation allowance.\nWe recognize tax benefits from uncertain tax positions only if we believe that it is more likely than not that the tax position will be sustained on\nexamination by the taxing authorities based on the technical merits of the position. We recognize interest and penalties related to uncertain tax positions as a\ncomponent of the provision for income taxes.\nAdvertising Expense\nAdvertising costs are expensed when incurred and are included in marketing and sales expenses on our consolidated statements of income. We incurred\nadvertising expenses of $2.02 billion, $2.65 billion, and $2.99 billion for the years ended December 31, 2023, 2022, and 2021, respectively.\nEmployee Severance\nWe recognize one-time employee termination costs when notification occurs, based on the regional requirements in which the employee works."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0020-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 97, "chroma:document": "Cash and Cash Equivalents, Marketable Securities, and Restricted Cash\nCash and cash equivalents consist of cash on deposit with financial institutions globally and highly liquid investments with maturities of 90 days or less\nfrom the date of purchase. We classify amounts in transit from customer credit cards and payment service providers as cash on our consolidated balance sheets.\nWe hold investments in marketable securities, consisting of U.S. government securities, U.S. government agency securities, and investment grade\ncorporate debt securities. We classify our marketable securities as available-for-sale (AFS) investments in our current assets because they represent investments\nof cash available for current operations. Our AFS investments are carried at estimated fair value with any unrealized gains and losses, net of taxes, included in\naccumulated other comprehensive income (loss) in stockholders' equity. AFS debt securities with an amortized cost basis in excess of estimated fair value are\nassessed to determine what amount of that difference, if any, is caused by expected credit losses. Allowance for credit losses on AFS debt securities are\nrecognized as a charge in interest and other income (expense), net on our consolidated statements of income, and any remaining unrealized losses, net of taxes,\nare included in accumulated other comprehensive income (loss) in stockholders' equity. The amounts of credit losses recorded for the years ended\nDecember 31, 2023, 2022, and 2021 were not material. We determine realized gains or losses on sale of marketable securities on a specific\n97"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b00ac-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 98, "chroma:document": "Table of Contents\nidentification method and include such gains or losses in interest and other income (expense), net on our consolidated statements of income.\nWe classify certain restricted cash balances, consisting primarily of cash related to insurance policies, and retention and indemnification holdback for our\nacquisitions, within prepaid expenses and other current assets and other assets on our consolidated balance sheets based upon the expected duration of the\nrestrictions.\nNon-marketable Equity Securities\nOur non-marketable equity securities are investments in privately-held companies without readily determinable fair values. We elected to account for\nsubstantially all of our non-marketable equity securities using the measurement alternative, which is cost, less any impairment, adjusted for changes in fair\nvalue resulting from observable transactions for identical or similar investments of the same issuer as of the respective transaction dates. We periodically\nreview our non-marketable equity securities for impairment. When indicators exist and the estimated fair value of an investment is below the carrying amount,\nwe write down the investment to fair value. The change in carrying value, if any, gains and losses resulting from the remeasurements are recognized in interest\nand other income (expense), net on our consolidated statements of income. For additional information, see Note 6 \u2014 Non-marketable Equity Securities.\nIn addition, we also held other non-marketable equity securities accounted for under the equity method which were immaterial as of December 31, 2023\nand 2022.\nFair Value Measurements\nWe apply fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value\nin the financial statements on a recurring basis. We define fair value as the price that would be received from selling an asset or paid to transfer a liability in an\norderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are\nrequired to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk\nmeasurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer\nrestrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels\nand bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0106-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 98, "chroma:document": "Level 1- Quoted prices in active markets for identical assets or liabilities.\nLevel 2- Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or\nliabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or\nliabilities.\nLevel 3- Inputs that are generally unobservable and typically reflect management's estimate of assumptions that market participants would use in pricing\nthe asset or liability.\nOur cash equivalents and marketable debt securities are classified within Level 1 or Level 2 of the fair value hierarchy because their fair value is derived\nfrom quoted market prices or alternative pricing sources and models utilizing observable market inputs. Certain other assets are classified within Level 3\nbecause factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity.\nOur non-marketable equity securities accounted for using the measurement alternative are recorded at fair value on a non-recurring basis. When\nindicators of impairment exist or observable price changes of qualified transactions occur, the respective non-marketable equity security would be classified\nwithin Level 3 of the fair value hierarchy because the valuation methods include a combination of the observable transaction price at the transaction date and\nother unobservable inputs including volatility, rights, and obligations of the securities we hold.\nAccounts Receivable and Allowances\nAccounts receivable are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. We make\nestimates of expected credit and collectibility trends for the allowance for credit losses and\n98"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b016a-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 99, "chroma:document": "Table of Contents\nallowance for unbilled receivables based upon our assessment of various factors, including historical experience, the age of the accounts receivable balances,\ncredit quality of our customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may\naffect our ability to collect from customers. Expected credit losses are recorded as general and administrative expenses on our consolidated statements of\nincome. As of December 31, 2023 and 2022, the allowances for accounts receivable were immaterial.\nProperty and Equipment\nProperty and equipment, including finance leases, are depreciated and stated at cost less accumulated depreciation. Depreciation is computed using the\nstraight-line method over the estimated useful lives of the assets or the remaining lease term, whichever is shorter.\nThe estimated useful lives of property and equipment and amortization periods of finance lease right-of-use (ROU) assets are described below:\nProperty and Equipment Useful Life/ Amortization period\nServers and network assets Four to Five years\nBuildings 25 to 30 years\nEquipment and other One to 25 years\nFinance lease right-of-use assets Three to 20 years\nLeasehold improvements Lesser of estimated useful life or remaining lease term\nWe evaluate at least annually the recoverability of property and equipment for possible impairment whenever events or circumstances indicate that the\ncarrying amount of such assets may not be recoverable. If such review indicates that the carrying amount of property and equipment assets is not recoverable,\nand the asset's fair value is less than the carrying amount, an impairment charge is recognized. Additionally, we recorded abandonment charges and its related\nadjustments in 2023 and 2022 for data center construction in progress (CIP) assets under ASC Topic 360 related to our restructuring efforts. For additional\ninformation regarding our restructuring efforts, see Note 3 \u2014 Restructuring.\nThe useful lives of our property and equipment are determined by management when those assets are initially recognized and are routinely reviewed for\nthe remaining estimated useful lives. Our current estimate of useful lives represents the best estimate of the useful lives based on current facts and\ncircumstances, but may differ from the actual useful lives due to changes to our business operations, changes in the planned use of assets, and technological\nadvancements. When we change the estimated useful life assumption for any asset, the remaining carrying amount of the asset is accounted for prospectively"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b01ce-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 99, "chroma:document": "and depreciated or amortized over the revised estimated useful life.\nServers and network assets include property and equipment mostly in our data centers, which is used to support production traffic. Land and assets held\nwithin CIP are not depreciated. CIP is related to the construction or development of property and equipment that have not yet been placed in service for their\nintended use. We capitalize interest on our debt related to certain eligible CIP assets and depreciate over the useful life of the related assets.\nThe cost of maintenance and repairs is expensed as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated\ndepreciation are removed from their respective accounts, and gain or loss on such sale or disposal is reflected in income from operations.\nLease Obligations\nOur operating leases mostly comprise of certain offices, data centers, and colocations. We also have finance leases for certain network infrastructure. We\ndetermine if an arrangement is a lease at inception. Most of our leases contain lease and non-lease components. Non-lease components include fixed payments\nfor maintenance, utilities, real estate taxes, and management fees. We combine fixed lease and non-lease components and account for them as a single lease\ncomponent. Our lease agreements may contain variable costs such as contingent rent escalations, common area maintenance, insurance, real estate taxes, or\nother costs. These amounts are affected by the Consumer Price Index, payments contingent on energy production for renewable energy purchase arrangements,\nand maintenance and utilities. Such variable lease costs are\n99"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0228-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 100, "chroma:document": "Table of Contents\nexpensed as incurred on our consolidated statements of income. For certain colocation and equipment leases, we apply a portfolio approach to effectively\naccount for the operating lease ROU assets and lease liabilities.\nFor leases with a lease term greater than 12 months, ROU assets and lease liabilities are recognized on our consolidated balance sheets at the\ncommencement date based on the present value of the remaining fixed lease payments and includes only payments that are fixed and determinable at the time\nof commencement.\nOur lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. When determining\nthe probability of exercising such options, we consider contract-based, asset-based, entity-based, and market-based factors. We do not assume renewals in our\ndetermination of the lease term unless the renewals are deemed to be reasonably assured. Our lease agreements generally do not contain any material residual\nvalue guarantees or material restrictive covenants.\nAs most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement\ndate in determining the present value of lease payments. Our incremental borrowing rate is based on our understanding of what our credit rating would be in a\nsimilar economic environment.\nOperating leases are included in operating lease ROU assets, operating lease liabilities, current, and operating lease liabilities, non-current on our\nconsolidated balance sheets. Finance leases are included in property and equipment, net, accrued expenses and other current liabilities, and other liabilities on\nour consolidated balance sheets.\nOperating lease costs are recognized on a straight-line basis over the lease terms. Finance lease assets are amortized on a straight-line basis over the\nshorter of the estimated useful lives of the assets or the lease terms.\nDuring the year ended December 31, 2023 and 2022, we recorded net impairment losses of $2.43 billion and $2.22 billion in aggregate for operating\nlease ROU assets and leasehold improvements under ASC Topic 360 as a part of our facilities consolidation restructuring efforts. The fair values of the\nimpaired assets were estimated using discounted cash flow models (income approach) based on market participant assumptions with Level 3 inputs. The\nassumptions used in estimating fair value include the expected downtime prior to the commencement of future subleases, projected sublease income over the"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0282-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 100, "chroma:document": "remaining lease periods, and discount rates that reflect the level of risk associated with receiving future cash flows. For additional information regarding our\nrestructuring efforts, see Note 3 \u2014 Restructuring.\nLoss Contingencies\nWe are involved in legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business.\nCertain of these matters include speculative claims for substantial or indeterminate amounts of damages. Additionally, we are required to comply with various\nlegal and regulatory obligations around the world, and we regularly become subject to new laws and regulations in the jurisdictions in which we operate. The\nrequirements for complying with these obligations may be uncertain and subject to interpretation and enforcement by regulatory and other authorities, and any\nfailure to comply with such obligations could eventually lead to asserted legal or regulatory action. With respect to these matters, asserted and unasserted, we\nevaluate the associated developments on a regular basis and accrue a liability when we believe that it is both probable that a loss has been incurred and the\namount can be reasonably estimated. If we determine there is a reasonable possibility that we may incur a loss and the loss or range of loss can be reasonably\nestimated, we record such losses as general and administrative expenses on our consolidated statements of income and disclose the possible loss in the\naccompanying notes to the consolidated financial statements to the extent material.\nBusiness Combinations\nWe allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their\nestimated fair values as of the acquisition date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and\nliabilities is recorded as goodwill to reporting units based on the expected benefit from the business combination. Allocation of purchase consideration to\nidentifiable assets and liabilities affects the amortization expense, as acquired finite-lived intangible assets are amortized over the useful life, whereas any\nindefinite-lived intangible assets, including goodwill, are not amortized. During the measurement period, which is not to exceed one year from the acquisition\ndate, we record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement\nperiod, any subsequent adjustments are recorded to earnings. Acquisition-related expenses are recognized separately from business combinations and are\nexpensed as incurred.\n100"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b02e6-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 101, "chroma:document": "Table of Contents\nGoodwill and Intangibles Assets\nWe allocate goodwill to reporting units based on the expected benefit from business combinations. We evaluate our reporting units annually, as well as\nwhen changes in our operating segments occur. For changes in reporting units, we reassign goodwill using a relative fair value allocation approach. Goodwill is\ntested for impairment at the reporting unit level annually or more frequently if events or changes in circumstances would more likely than not reduce the fair\nvalue of a reporting unit below its carrying value. We have two reporting units subject to goodwill impairment testing. As of December 31, 2023, no\nimpairment of goodwill has been identified.\nWe evaluate the recoverability of finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying\namount of such assets may not be recoverable. The evaluation of these intangible assets are performed at the lowest level for which identifiable cash flows are\nlargely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the\nfuture undiscounted cash flows the assets are expected to generate from the use and eventual disposition. If such review indicates that the carrying amount of\nfinite-lived intangible assets is not recoverable, and the assets fair value is less than the carrying amount, an impairment charge is recognized. We have not\nrecorded any material impairment charges during the years presented.\nOur finite-lived intangible assets are amortized on a straight-line basis over the estimated useful lives of the assets. Indefinite-lived intangible assets are\nnot amortized. If an indefinite-lived intangible asset is subsequently determined to have a finite useful life, the asset will be tested for impairment and\naccounted for as a finite-lived intangible asset prospectively over its estimated remaining useful life. We routinely review the remaining estimated useful lives\nof finite-lived intangible assets. If we change the estimated useful life assumption for any asset, the remaining unamortized balance is amortized over the\nrevised estimated useful life.\nForeign Currency\nGenerally, the functional currency of our international subsidiaries is the local currency. We translate the financial statements of these subsidiaries to\nU.S. dollars using month-end rates of exchange for assets and liabilities, and average rates of exchange for revenue, costs, and expenses. Translation gains and"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0340-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 101, "chroma:document": "losses are recorded in accumulated other comprehensive income (loss) as a component of stockholders' equity. As of December 31, 2023 and 2022, we had\ncumulative translation losses, net of tax of $1.24 billion and $1.86 billion, respectively.\nForeign currency transaction gains and losses from transactions denominated in a currency other than the functional currency of the subsidiary involved\nare recorded within interest and other income (expense), net on our consolidated statements of income. Net losses resulting from foreign currency transactions\nwere $366 million, $81 million, and $140 million for the years ended December 31, 2023, 2022, and 2021, respectively.\nCredit Risk and Concentration\nOur financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash,\nmarketable securities, and accounts receivable. Cash equivalents consists mostly of money market funds, that primarily invest in U.S. government and agency\nsecurities. Marketable securities consist of investments in U.S. government securities, U.S. government agency securities, and investment grade corporate debt\nsecurities. As part of our cash management strategy, we concentrate cash deposits with large financial institutions and our marketable securities are held in\ndiversified highly rated securities. Our investment portfolio in corporate debt securities is highly liquid and diversified among individual issuers. The amount\nof credit losses recorded for the year ended December 31, 2023 was not material.\nAccounts receivable are typically unsecured and are derived from revenue earned from customers across different industries and countries. We generated\n37%, 40%, and 41% of our revenue for the years ended December 31, 2023, 2022, and 2021, respectively, from marketers and developers based in the United\nStates, with a majority of the revenue outside of the United States in 2023 coming from customers located in western Europe, China, Brazil, Australia, Canada\nand Japan.\nWe perform ongoing credit evaluations of our customers and generally do not require collateral. We maintain an allowance for estimated credit losses,\nand bad debt expense on these losses was not material during the years ended\n101"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b03a4-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 102, "chroma:document": "Table of Contents\nDecember 31, 2023, 2022, or 2021. In the event that accounts receivable collection cycles deteriorate, our operating results and financial position could be\nadversely affected.\nNo customer represented 10% or more of total revenue during the years ended December 31, 2023, 2022, and 2021.\nRecently Adopted Accounting Pronouncements\nOn April 1, 2023 we early adopted Accounting Standards Update (ASU) No. 2023-01, Leases (Topic 842): Common Control Arrangements (ASU 2023-\n01), which requires leasehold improvements associated with common control leases to be amortized over the useful life to the common control group. The\nadoption of this new standard did not have a material impact on our consolidated financial statements.\nAccounting Pronouncements Not Yet Adopted\nIn November 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to\nReportable Segment Disclosures (ASU 2023-07), which requires an enhanced disclosure of significant segment expenses on an annual and interim basis. This\nguidance will be effective for the annual periods beginning the year ended December 31, 2024, and for interim periods beginning January 1, 2025. Early\nadoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. We do not expect\nthe adoption of this guidance to have a material impact on our consolidated financial statements.\nIn December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which\nimproves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate\nreconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax\ndisclosures. This guidance will be effective for the annual periods beginning the year ended December 31, 2025. Early adoption is permitted. Upon adoption,\nthe guidance can be applied prospectively or retrospectively. We do not expect the adoption of this guidance to have a material impact on our consolidated\nfinancial statements.\n102"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b03fe-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 103, "chroma:document": "Table of Contents\nNote 2. Revenue\nRevenue disaggregated by revenue source and by segment consists of the following (in millions):\nYear Ended December 31, \n2023 2022 2021\nAdvertising $ 131,948 $ 113,642 $ 114,934 \nOther revenue 1,058 808 721 \nFamily of Apps 133,006 114,450 115,655 \nReality Labs 1,896 2,159 2,274 \nTotal revenue $ 134,902 $ 116,609 $ 117,929 \nRevenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):\n Year Ended December 31, \n 2023 2022 2021\nUnited States and Canada $ 52,888 $ 50,150 $ 51,541 \nEurope 31,210 26,681 29,057 \nAsia-Pacific 36,154 27,760 26,739 \nRest of World 14,650 12,018 10,592 \nTotal revenue $ 134,902 $ 116,609 $ 117,929 \n_________________________\n(1) United States revenue was $49.78 billion, $47.20 billion, and $48.38 billion for the years ended December 31, 2023, 2022, and 2021, respectively .\n(2) China revenue was $13.69 billion, $7.40 billion, and $7.59 billion for the years ended December 31, 2023, 2022, and 2021, respectively .\n(3) Europe includes Russia and Turkey , and Rest of World includes Africa, Latin America, and the Middle East.\nOur total deferred revenue was $675 million and $526 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023, we expect\n$626 million of our deferred revenue to be realized in less than a year.(1)\n(3)\n (2)\n(3)\n103"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0462-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 104, "chroma:document": "Table of Contents\nNote 3. Restructuring\n2023 Restructuring\nIn March 2023, we announced three rounds of planned layoffs to further reduce our company size by approximately 10,000 employees across the Family\nof Apps (FoA) and Reality Labs (RL) segments (the 2023 Restructuring). Impacted employees in our recruiting, technology, and business groups were notified\nduring March 2023 to May 2023. As of December 31, 2023, we have completed these employee layoffs. In certain regions, a small portion of the impacted\nemployees continue to be included in our reported headcount through 2024. We recognized $1.20 billion pre-tax severance and related personnel costs across\nthe FoA and RL segments during the year ended December 31, 2023 in accordance with ASC Topic 420, Exit or Disposal Cost Obligations, where applicable.\nA summary of our 2023 Restructuring pre-tax charges, including subsequent adjustments, recorded for severance and related personnel costs during the\nyear ended December 31, 2023 is as follows (in millions):\nYear Ended December 31,\n2023\nResearch and development $ 422 \nMarketing and sales 308 \nGeneral and administrative 467 \nTotal $ 1,197 \n____________________________\n(1)    Includes $101 million of share-based compensation expense recognized for the 2023 layof fs during the year ended December 31, 2023.\nThe 2023 Restructuring charges recorded under our FoA segment were $1.10 billion and RL segment were $96 million during the year ended\nDecember 31, 2023.\nThe following is a summary of changes in the accrued severance and other personnel liabilities related to the 2023 layoff activities, included within\naccrued expenses and other current liabilities on our consolidated balance sheets (in millions):\nSeverance Liabilities\nBalance as of January 1, 2023 $ \u2014 \nSeverance and other personnel costs 1,097 \nCash payments (1,021)\nBalance as of December 31, 2023 $ 76 \n2022 Restructuring\nIn 2022, we initiated several measures to pursue greater efficiency and to realign our business and strategic priorities. These measures included a"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b04c6-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 104, "chroma:document": "facilities consolidation strategy to sublease, early terminate, or abandon several office buildings under operating leases, a layoff of approximately 11,000\nemployees across the FoA and RL segments, and a pivot towards a next generation data center design, including cancellation of multiple data center projects\n(the 2022 Restructuring). As of December 31, 2023, we have completed the data center initiatives and the 2022 employee layoffs, and substantially completed\nthe facilities consolidation initiatives.(1)\n104"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0520-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 105, "chroma:document": "Table of Contents\nA summary of our 2022 Restructuring pre-tax charges for the years ended December 31, 2023 and 2022, including subsequent adjustments, is as follows\n(in millions):\nYear Ended December 31, 2023 Year Ended December 31, 2022\nFacilities\nConsolidationSeverance and\nOther Personnel\nCostsData Center\nAssets TotalFacilities\nConsolidationSeverance and\nOther Personnel\nCostsData Center\nAssets Total\nCost of revenue $ 177 $ \u2014 $ (224)$ (47)$ 154 $ \u2014 $ 1,341 $ 1,495 \nResearch and development 1,581 (9) \u2014 1,572 1,311 408 \u2014 1,719 \nMarketing and sales 396 (1) \u2014 395 404 234 \u2014 638 \nGeneral and administrative 352 (17) \u2014 335 426 333 \u2014 759 \nTotal $ 2,506 $ (27)$ (224)$ 2,255 $ 2,295 $ 975 $ 1,341 $ 4,611 \n____________________________________\n(1) Relates to changes in estimates in our data center restructuring char ges recorded during 2022.\nTotal restructuring charges recorded under our FoA segment were $1.74 billion and $4.10 billion, and RL segment were $516 million and $515 million\nfor the years ended December 31, 2023 and 2022, respectively.\nThe following is a summary of changes in the severance and other personnel liabilities related to the 2022 layoff activities, included within accrued\nexpenses and other current liabilities on our consolidated balance sheets (in millions):\nSeverance Liabilities\nBalance as of January 1, 2022 $ \u2014 \nSeverance and other personnel costs 975 \nCash payments (203)\nBalance as of December 31, 2022 772 \nAdjustments and foreign exchange (35)\nCash payments (737)\nBalance as of December 31, 2023 $ \u2014 (1)\n105"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0584-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 106, "chroma:document": "Table of Contents\nNote 4. Earnings per Share\nWe compute earnings per share (EPS) of Class A and Class B common stock using the two-class method. As the liquidation and dividend rights for both\nClass A and Class B common stock are identical, the undistributed earnings are allocated on a proportionate basis to the weighted-average number of common\nshares outstanding for the period.\nBasic EPS is computed by dividing net income by the weighted-average number of shares of our Class A and Class B common stock outstanding. For\nthe calculation of diluted EPS, net income for basic EPS is adjusted by the effect of dilutive securities, including restricted stock units (RSUs) awards under our\nEquity Incentive Plan.\nIn addition, the computation of the diluted EPS of Class A common stock assumes the conversion of our Class B common stock to Class A common\nstock, while the diluted EPS of Class B common stock does not assume the conversion of those shares to Class A common stock. Diluted EPS is computed by\ndividing the resulting net income by the weighted-average number of fully diluted common shares outstanding.\nFor the years ended December 31, 2023 and 2022, approximately 16 million and 95 million shares of Class A common stock equivalents of RSUs were\nexcluded from the diluted EPS calculation, respectively, as including them would have an anti-dilutive effect. RSUs with anti-dilutive effect were not material\nfor the year ended December 31, 2021.\nBasic and diluted EPS are the same for each class of common stock because they are entitled to the same liquidation and dividend rights.\nThe numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per\nshare amounts):\n Year Ended December 31,\n 2023 2022 2021\n Class\nAClass\nBClass\nAClass\nBClass\nAClass\nB \nBasic EPS:       \nNumerator       \nNet income $33,722 $ 5,376 $19,729 $ 3,471 $33,328 $ 6,042 \nDenominator       \nShares used in computation of basic earnings per share 2,220 354 2,285 402 2,383 432"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b05de-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 106, "chroma:document": "Basic EPS $ 15.19 $ 15.19 $ 8.63 $ 8.63 $ 13.99 $ 13.99 \nDiluted EPS:     \nNumerator       \nNet income $33,722 $ 5,376 $19,729 $ 3,471 $33,328 $ 6,042 \nReallocation of net income as a result of conversion of Class B to\nClass A common stock 5,376 \u2014 3,471 \u2014 6,042 \u2014 \nReallocation of net income to Class B common stock \u2014 (112) \u2014 (19) \u2014 (93)\nNet income for diluted EPS $39,098 $ 5,264 $23,200 $ 3,452 $39,370 $ 5,949 \nDenominator       \nShares used in computation of basic earnings per share 2,220 354 2,285 402 2,383 432 \nConversion of Class B to Class A common stock 354 \u2014 402 \u2014 432 \u2014 \nWeighted-average effect of dilutive RSUs 55 \u2014 15 \u2014 44 \u2014 \nShares used in computation of diluted earnings per share 2,629 354 2,702 402 2,859 432 \nDiluted EPS $ 14.87 $ 14.87 $ 8.59 $ 8.59 $ 13.77 $ 13.77 \n106"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0638-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 107, "chroma:document": "Table of Contents\nNote 5. Financial Instruments\nInstruments Measured at Fair Value\nWe classify our cash equivalents and marketable debt securities within Level 1 or Level 2 because we use quoted market prices or alternative pricing\nsources and models utilizing market observable inputs to determine their fair value. Certain other assets are classified within Level 3 because factors used to\ndevelop the estimated fair value are unobservable inputs that are not supported by market activity.\nThe following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value\nhierarchy (in millions):\n  Fair Value Measurement at Reporting Date Using\nDescription December 31, 2023Quoted Prices in Active\nMarkets for\nIdentical Assets\n(Level 1)Significant Other\nObservable Inputs\n(Level 2)Significant Unobservable\nInputs\n(Level 3)\nCash $ 6,265 \nCash equivalents:\nMoney market funds 32,910 $ 32,910 $ \u2014 $ \u2014 \nU.S. government and agency securities 2,206 2,206 \u2014 \u2014 \nTime deposits 261 \u2014 261 \u2014 \nCorporate debt securities 220 \u2014 220 \u2014 \nTotal cash and cash equivalents 41,862 35,116 481 \u2014 \nMarketable securities:\nU.S. government securities 8,439 8,439 \u2014 \u2014 \nU.S. government agency securities 3,498 3,498 \u2014 \u2014 \nCorporate debt securities 11,604 \u2014 11,604 \u2014 \nTotal marketable securities 23,541 11,937 11,604 \u2014 \nRestricted cash equivalents 857 857 \u2014 \u2014 \nOther assets 101 \u2014 \u2014 101 \nTotal $ 66,361 $ 47,910 $ 12,085 $ 101 \n107"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0692-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 108, "chroma:document": "Table of Contents\n  Fair Value Measurement at Reporting Date Using\nDescription December 31, 2022Quoted Prices in Active\nMarkets for\nIdentical Assets\n(Level 1)Significant Other\nObservable Inputs\n(Level 2)Significant Unobservable\nInputs\n(Level 3)\nCash $ 6,176 \nCash equivalents:\nMoney market funds 8,305 $ 8,305 $ \u2014 $ \u2014 \nU.S. government and agency securities 16 16 \u2014 \u2014 \nTime deposits 156 \u2014 156 \u2014 \nCorporate debt securities 28 \u2014 28 \u2014 \nTotal cash and cash equivalents 14,681 8,321 184 \u2014 \nMarketable securities:\nU.S. government securities 8,708 8,708 \u2014 \u2014 \nU.S. government agency securities 4,989 4,989 \u2014 \u2014 \nCorporate debt securities 12,335 \u2014 12,335 \u2014 \nMarketable equity securities 25 25 \u2014 \u2014 \nTotal marketable securities 26,057 13,722 12,335 \u2014 \nRestricted cash equivalents 583 583 \u2014 \u2014 \nOther assets 157 \u2014 \u2014 157 \nTotal $ 41,478 $ 22,626 $ 12,519 $ 157 \nUnrealized Losses\nThe following tables summarize our available-for-sale marketable debt securities and cash equivalents with unrealized losses as of December 31, 2023\nand 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):\nDecember 31, 2023\nLess than 12 months 12 months or greater Total\nFair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses\nU.S. government securities $ 336 $ (1)$ 7,041 $ (275)$ 7,377 $ (276)\nU.S. government agency securities 71 \u2014 3,225 (164) 3,296 (164)\nCorporate debt securities 647 (3) 10,125 (491) 10,772 (494)\nTotal $ 1,054 $ (4)$ 20,391 $ (930)$ 21,445 $ (934)\nDecember 31, 2022\nLess than 12 months 12 months or greater Total"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b06f6-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 108, "chroma:document": "Less than 12 months 12 months or greater Total\nFair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses\nU.S. government securities $ 5,008 $ (234)$ 3,499 $ (247)$ 8,507 $ (481)\nU.S. government agency securities 524 (17) 4,415 (308) 4,939 (325)\nCorporate debt securities 4,555 (249) 7,256 (634) 11,811 (883)\nTotal $ 10,087 $ (500)$ 15,170 $ (1,189)$ 25,257 $ (1,689)\nThe decrease in the gross unrealized losses for the year ended December 31, 2023 is mostly due to a shorter average portfolio duration. The allowance\nfor credit losses and the gross unrealized gains on our marketable debt securities were not material as of December 31, 2023 and 2022.\n108"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0750-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 109, "chroma:document": "Table of Contents\nContractual Maturities\nThe following table classifies our marketable debt securities by contractual maturities (in millions):\nDecember 31, 2023\nDue within one year $ 7,120 \nDue after one year to five years 16,421 \nTotal $ 23,541 \nInstruments Measured at Fair Value on Non-recurring Basis\nOur non-marketable equity securities accounted for using the measurement alternative are measured at fair value on a non-recurring basis and are\nclassified within Level 3 of the fair value hierarchy because we use significant unobservable inputs to estimate their fair value. Assets remeasured at fair value\non a non-recurring basis within Level 3 during the years ended December 31, 2023 and 2022 were $53 million and $198 million, respectively. For additional\ninformation, see Note 6 \u2014 Non-marketable Equity Securities.\nNote 6. Non-marketable Equity Securities\nOur non-marketable equity securities are investments in privately-held companies without readily determinable fair values. The following table\nsummarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions):\nDecember 31,\n2023 2022\nNon-marketable equity securities under measurement alternative:\nInitial cost $ 6,389 $ 6,388\nCumulative upward adjustments 293 293\nCumulative impairment/downward adjustments (599) (497)\nCarrying value 6,083 6,184\nNon-marketable equity securities under equity method 58 17\nTotal $ 6,141 $ 6,201\nDuring the years ended December 31, 2023, 2022 and 2021, impairment and downward adjustments recorded for our non-marketable equity securities\nthat were measured using measurement alternative was $101 million, $447 million, and immaterial, respectively.\n109"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b07f0-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 110, "chroma:document": "Table of Contents\nNote 7. Property and Equipment\nProperty and equipment, net consists of the following (in millions):\n December 31,\n 2023 2022\nLand $ 2,080 $ 1,874 \nServers and network assets 46,838 34,330 \nBuildings 37,961 27,720 \nLeasehold improvements 6,972 6,522 \nEquipment and other 7,416 5,642 \nFinance lease right-of-use assets 4,185 3,353 \nConstruction in progress 24,269 25,052 \nProperty and equipment, gross 129,721 104,493 \nLess: Accumulated depreciation (33,134) (24,975)\nProperty and equipment, net $ 96,587 $ 79,518 \nConstruction in progress includes costs mostly related to construction of data centers, network infrastructure and servers. As of December 31, 2023, and\n2022, construction in progress also included $1.40 billion and $2.18 billion of servers and network assets components stored by our suppliers until required by\nour design manufacturers to fulfill certain purchase orders, respectively.\nDepreciation expense on property and equipment was $11.02 billion, $8.50 billion, and $7.56 billion for the years ended December 31, 2023, 2022, and\n2021, respectively. Within property and equipment, our servers and network assets depreciation expenses were $7.32 billion, $5.29 billion, and $4.94 billion for\nthe years ended December 31, 2023, 2022, and 2021, respectively. During the year ended December 31, 2023, we capitalized $283 million of interest expense\nrelated to certain eligible construction in progress assets.\nDuring the years ended December 31, 2023, and 2022, we recorded $671 million and $508 million of impairment losses mostly for leasehold\nimprovements assets as part of our facilities consolidation restructuring efforts, respectively. For additional information, see Note 3 \u2014 Restructuring.\nNote 8. Leases\nWe have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, and colocations. We have also entered into"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0854-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 110, "chroma:document": "various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between 2024 and 2093.\nMany leases include one or more options to renew.\nThe components of lease costs are as follows (in millions):\nYear Ended December 31,\n2023 2022 2021\nFinance lease cost:\nAmortization of right-of-use assets $ 349 $ 380 $ 344 \nInterest 20 16 15 \nOperating lease cost 2,091 1,857 1,540 \nVariable lease cost and other, net 580 363 272 \nTotal lease cost $ 3,040 $ 2,616 $ 2,171 \n110"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b08ae-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 111, "chroma:document": "Table of Contents\nWe also recorded $1.76 billion and $1.71 billion net impairment losses for operating lease right-of-use assets as a part of our facilities consolidation\nrestructuring efforts for the years ended December 31, 2023, and 2022, respectively. For additional information, see Note 3 \u2014 Restructuring.\nSupplemental balance sheet information related to lease liabilities is as follows:\nDecember 31,\n2023 2022\nWeighted-average remaining lease term:\nFinance leases 14.0 years 14.4 years\nOperating leases 11.6 years 12.5 years\nWeighted-average discount rate:\nFinance leases 3.4 % 3.1 %\nOperating leases 3.7 % 3.2 %\nThe following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 (in millions):\nOperating Leases Finance Leases\n2024 $ 2,219 $ 111 \n2025 2,330 64 \n2026 2,264 64 \n2027 2,233 60 \n2028 2,112 60 \nThereafter 12,491 492 \nTotal undiscounted cash flows 23,649 851 \nLess: Imputed interest (4,800) (161)\nPresent value of lease liabilities $ 18,849 $ 690 \nLease liabilities, current $ 1,623 $ 90 \nLease liabilities, non-current 17,226 600 \nPresent value of lease liabilities $ 18,849 $ 690 \n_________________\n(1)    Lease liabilities include operating leases under restructuring as a part of our facilities consolidation ef forts. For additional information, see Note 3 \u2014 Restructuring.\nThe table above does not include lease payments that were not fixed at commencement or lease modification. As of December 31, 2023, we have\nadditional operating and finance leases, that have not yet commenced, with lease obligations of approximately $7.07 billion and $1.37 billion, respectively,\nmostly for data centers, colocations, and network infrastructure. These operating and finance leases will commence between 2024 and 2028 with lease terms of\ngreater than one year to 30 years.(1)\n(1)\n111"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0930-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 112, "chroma:document": "Table of Contents\nSupplemental cash flow information related to leases is as follows (in millions):\nYear Ended December 31,\n2023 2022 2021\nCash paid for amounts included in the measurement of lease liabilities:\nOperating cash flows for operating leases $ 2,233 $ 1,654 $ 1,406 \nOperating cash flows for finance leases $ 20 $ 16 $ 15 \nFinancing cash flows for finance leases $ 1,058 $ 850 $ 677 \nLease liabilities arising from obtaining right-of-use assets:\nOperating leases $ 4,370 $ 4,366 $ 4,466 \nFinance leases $ 588 $ 223 $ 160 \n_________________\n(1)    Cash flows for operating leases during the year ended December 31, 2023 include cash paid for terminations of certain operating leases .\nNote 9. Acquisitions, Goodwill, and Intangible Assets\nDuring the year ended December 31, 2023, we completed business acquisitions with total purchase consideration of $467 million in cash, including\n$88 million and $352 million allocated to intangible assets and goodwill, respectively. Goodwill generated from these business acquisitions was primarily\nattributable to expected synergies and potential monetization opportunities. The amount of goodwill generated that was deductible for tax purposes was not\nmaterial. Acquisition-related costs were immaterial and were expensed as incurred. Pro forma historical results of operations related to these business\nacquisitions have not been presented because they are not significant to our consolidated financial statements, either individually or in aggregate. We have\nincluded the financial results of these acquired businesses in our consolidated financial statements from their respective dates of acquisition.\nChanges in the carrying amount of goodwill by reportable segment for the years ended December 31, 2023 and 2022 are as follows (in millions):\nFamily of Apps Reality Labs Total\nGoodwill at December 31, 2021 $ 18,458 $ 739 $ 19,197 \nAcquisitions 773 364 1,137 \nAdjustments 19 (47) (28)\nGoodwill at December 31, 2022 19,250 1,056 20,306 \nAcquisitions \u2014 357 357 \nAdjustments (4) (5) (9)"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0994-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 112, "chroma:document": "Adjustments (4) (5) (9)\nGoodwill at December 31, 2023 $ 19,246 $ 1,408 $ 20,654  (1)\n112"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b09ee-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 113, "chroma:document": "Table of Contents\nThe following table sets forth the major categories of the intangible assets and their weighted-average remaining useful lives (in millions):\nDecember 31, 2023 December 31, 2022\nWeighted-\nAverage\nRemaining\nUseful Lives\n (in years)Gross Carrying\nAmountAccumulated\nAmortizationNet Carrying\nAmountGross Carrying\nAmountAccumulated\nAmortizationNet Carrying\nAmount\nAcquired technology 4.7 $ 478 $ (182)$ 296 $ 507 $ (144)$ 363 \nAcquired patents 2.4 287 (233) 54 380 (289) 91 \nOther 2.3 28 (15) 13 86 (25) 61 \nTotal finite-lived assets 793 (430) 363 973 (458) 515 \nTotal indefinite-lived assets N/A 425 \u2014 425 382 \u2014 382 \nTotal intangible assets $ 1,218 $ (430)$ 788 $ 1,355 $ (458)$ 897 \nAmortization expense of intangible assets for the years ended December 31, 2023, 2022, and 2021 was $161 million, $185 million, and $407 million,\nrespectively.\nAs of December 31, 2023, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as\nfollows (in millions):\n2024 $ 136 \n2025 97 \n2026 46 \n2027 24 \n2028 15 \nThereafter 45 \nTotal $ 363 \n113"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0a52-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 114, "chroma:document": "Table of Contents\nNote 10. Long-term Debt\nAs of December 31, 2023, we had $18.50 billion of fixed-rate senior unsecured notes (the Notes), including $10.0 billion issued in August 2022 and\n$8.50 billion issued in May 2023. The following table summarizes the Notes and the carrying amount of our debt (in millions, except percentages):\nMaturity Stated Interest RateEffective Interest\nRate December 31, 2023 December 31, 2022\nAugust 2022 debt:\n2027 Notes 2027 3.50% 3.63% $ 2,750 $ 2,750 \n2032 Notes 2032 3.85% 3.92% 3,000 3,000 \n2052 Notes 2052 4.45% 4.51% 2,750 2,750 \n2062 Notes 2062 4.65% 4.71% 1,500 1,500 \nMay 2023 debt:\n2028 Notes 2028 4.60% 4.68% 1,500 \n2030 Notes 2030 4.80% 4.90% 1,000 \n2033 Notes 2033 4.95% 5.00% 1,750 \n2053 Notes 2053 5.60% 5.64% 2,500 \n2063 Notes 2063 5.75% 5.79% 1,750 \nTotal face amount of long-term debt 18,500 10,000 \nUnamortized discount and issuance costs, net (115) (77)\nLong-term debt $ 18,385 $ 9,923 \nEach series of the Notes in the table above rank equally with each other. Interest on the Notes is payable semi-annually in arrears. We may redeem the\nNotes at any time, in whole or in part, at specified redemption prices. We are not subject to any financial covenants under the Notes. Interest expense, net of\ncapitalized interest, recognized on the debt was $420 million and $160 million for the years ended December 31, 2023 and 2022, respectively."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0aac-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 114, "chroma:document": "The total estimated fair value of our outstanding debt was $18.48 billion and $8.63 billion as of December 31, 2023 and 2022, respectively. The fair\nvalue was determined based on the closing trading price per $100 of the Notes and is categorized accordingly as Level 2 in the fair value hierarchy.\nAs of December 31, 2023, future principal payments for the Notes, by year, are as follows (in millions):\n2024 through 2026 $ \u2014 \n2027 2,750 \n2028 1,500 \nThereafter 14,250 \nTotal outstanding debt $ 18,500 \n114"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0b10-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 115, "chroma:document": "Table of Contents\nNote 11. Liabilities\nThe components of accrued expenses and other current liabilities are as follows (in millions):\nDecember 31,\n2023 2022\nLegal-related accruals $ 6,592 $ 4,795 \nAccrued compensation and benefits 6,659 4,591 \nAccrued property and equipment 2,213 2,921 \nAccrued taxes 3,655 2,339 \nOther current liabilities 5,506 4,906 \nAccrued expenses and other current liabilities $ 24,625 $ 19,552 \n_________________________\n(1) Includes accruals for estim ated fines, settlements, or other losses in connection with legal and related matters, as well as other legal fees. For further information, see Legal\nand Related Matters  in Note 12 \u2014 Commitments and Contingencies.\nThe components of other liabilities are as follows (in millions):\nDecember 31,\n2023 2022\nIncome tax payable, non-current $ 7,514 $ 6,645 \nOther non-current liabilities 1,370 1,119 \nOther liabilities $ 8,884 $ 7,764 \nNote 12. Commitments and Contingencies\nContractual Commitments\nWe have $16.49 billion of non-cancelable contractual commitments as of December 31, 2023, which are primarily related to our investments in servers,\nnetwork infrastructure, and consumer hardware products in Reality Labs. The following is a schedule, by years, of non-cancelable contractual commitments as\nof December 31, 2023 (in millions):\n2024 $ 12,105 \n2025 1,152 \n2026 417 \n2027 218 \n2028 127 \nThereafter 2,470 \nTotal $ 16,489 \nAdditionally, as part of the normal course of business, we have entered into multi-year agreements to purchase renewable energy that do not specify a\nfixed or minimum volume commitment or to purchase certain server components that do not specify a fixed or minimum price commitment. We enter into\nthese agreements in order to secure either volume or price. Using the expected volume consumption, the total estimated spend related to our renewable energy"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0b74-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 115, "chroma:document": "agreements as of December 31, 2023 is approximately $15.12 billion, a majority of which is due beyond five years. The ultimate spend under these agreements\nmay vary and will be based on actual volume purchased.(1)\n115"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0bce-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 116, "chroma:document": "Table of Contents\nLegal and Related Matters\nWith respect to the cases, actions, and inquiries described below, we evaluate the associated developments on a regular basis and accrue a liability when\nwe believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in\nsome of these matters. With respect to the matters described below that do not include an estimate of the amount of loss or range of possible loss, such losses or\nrange of possible losses either cannot be estimated or are not individually material, but we believe there is a reasonable possibility that they may be material in\nthe aggregate.\nWe are also party to various other legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary\ncourse of business. Additionally, we are required to comply with various legal and regulatory obligations around the world. The requirements for complying\nwith these obligations may be uncertain and subject to interpretation and enforcement by regulatory and other authorities, and any failure to comply with such\nobligations could eventually lead to asserted legal or regulatory action. With respect to these other legal proceedings, claims, regulatory, tax, or government\ninquiries and investigations, and other matters, asserted and unasserted, we evaluate the associated developments on a regular basis and accrue a liability when\nwe believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in\nsome of these other matters. We believe that the amount of losses or any estimable range of possible losses with respect to these other matters will not, either\nindividually or in the aggregate, have a material adverse effect on our business and consolidated financial statements.\nThe ultimate outcome of the legal and related matters described in this section, such as whether the likelihood of loss is remote, reasonably possible, or\nprobable, or if and when the reasonably possible range of loss is estimable, is inherently uncertain. Therefore, if one or more of these matters were resolved\nagainst us for amounts in excess of management's estimates of loss, our results of operations and financial condition, including in a particular reporting period\nin which any such outcome becomes probable and estimable, could be materially adversely affected.\nFor information regarding income tax contingencies, see Note 15 \u2014 Income Taxes.\nPrivacy and Related Matters"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0c28-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 116, "chroma:document": "Privacy and Related Matters\nBeginning on March 20, 2018, multiple putative class actions were filed in state and federal courts in the United States and elsewhere against us and\ncertain of our directors and officers alleging various causes of action in connection with our platform and user data practices as well as the misuse of certain\ndata by a developer that shared such data with third parties in violation of our terms and policies, and seeking unspecified damages and injunctive relief. With\nrespect to the putative class actions alleging fraud and violations of consumer protection, privacy, and other laws in connection with the same matters, several\nof the cases brought on behalf of consumers in the United States were consolidated in the U.S. District Court for the Northern District of California (In re\nFacebook, Inc., Consumer Privacy User Profile Litigation). On September 9, 2019, the court granted, in part, and denied, in part, our motion to dismiss the\nconsolidated putative consumer class action. On December 22, 2022, the parties entered into a settlement agreement to resolve the lawsuit, which provides for\na payment of $725 million by us. The settlement was approved by the court on October 10, 2023, and the payment was made in November 2023. In addition,\nour platform and user data practices, as well as the events surrounding the misuse of certain data by a developer, became the subject of U.S. Federal Trade\nCommission (FTC), state attorneys general, and other government inquiries in the United States, Europe, and other jurisdictions. We entered into a settlement\nand modified consent order to resolve the FTC inquiry, which took effect in April 2020. Among other matters, our settlement with the FTC required us to pay a\npenalty of $5.0 billion which was paid in April 2020 upon the effectiveness of the modified consent order. The state attorneys general inquiry and certain\ngovernment inquiries in other jurisdictions remain ongoing. On July 16, 2021, a stockholder derivative action was filed in Delaware Court of Chancery against\ncertain of our directors and officers asserting breach of fiduciary duty and related claims relating to our historical platform and user data practices, as well as\nour settlement with the FTC. On July 20, 2021, other stockholders filed an amended derivative complaint in a related Delaware Chancery Court action,"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0c8c-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 116, "chroma:document": "asserting breach of fiduciary duty and related claims against certain of our current and former directors and officers in connection with our historical platform\nand user data practices. On November 4, 2021, the lead plaintiffs filed a second amended and consolidated complaint in the stockholder derivative action. The\npending consolidated matter is In re Facebook Inc. Derivative Litigation. On January 19, 2022, we filed a motion to dismiss, which was denied in part on May\n10, 2023. The insider trading claim was dismissed as to all defendants except Mark Zuckerberg, and the motion was denied as to the breach of fiduciary duty\nclaims.\n116"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0d54-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 117, "chroma:document": "Table of Contents\nOn May 3, 2023, the FTC filed a public administrative proceeding (In the Matter of Facebook, Inc.) seeking substantial changes to the modified consent\norder, which took effect in April 2020 after its entry by the U.S. District Court for the District of Columbia. The changes sought by the FTC are set forth in a\nproposed order and include, among others, a prohibition on our use of minors' data for any commercial purposes, changes to the composition of our board of\ndirectors, and significant limitations on our ability to modify and launch new products. On May 31, 2023, we filed a motion before the U.S. District Court for\nthe District of Columbia (USA v. Facebook, Inc.) seeking to enjoin the FTC from further pursuing its agency process to modify the modified consent order. On\nNovember 27, 2023, the district court denied our motion, and we have appealed to the U.S. Court of Appeals for the District of Columbia Circuit (U.S. v.\nFacebook, Inc.) and sought to stay the FTC proceeding pending resolution of the appeal. On January 12, 2024, the district court denied our motion for a stay\npending appeal and, on January 25, 2024, we filed a motion for a stay pending appeal before the Court of Appeals. On November 29, 2023, we separately filed\na complaint, also in the U.S. District Court for the District of Columbia (Meta Platforms, Inc. v. FTC), asserting constitutional challenges to the structure of the\nFTC, and seeking to preliminarily enjoin the FTC proceeding during the pendency of the litigation. On December 13, 2023, the FTC filed an opposition to our\nmotion for preliminary injunction and a motion to dismiss the complaint. Oral argument on our motion to enjoin and the FTC\u2019s motion to dismiss is scheduled\nfor March 1, 2024. If the FTC proceeding is not enjoined or stayed, our response in the proceeding will be due on March 15, 2024, after which time the FTC\ncould amend the order to impose these additional requirements set forth in the proposed order. We should have the opportunity to appeal an FTC decision\nmodifying the order and could request the appellate court to stay the enforcement of the modifications to the order while the appeal is pending. It is unclear\nwhether the appeal or the request for a stay would be successful."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0dae-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 117, "chroma:document": "whether the appeal or the request for a stay would be successful.\nWe also notify the Irish Data Protection Commission (IDPC), our lead European Union privacy regulator under the General Data Protection Regulation\n(GDPR), of certain other personal data breaches and privacy issues, and are subject to inquiries and investigations by the IDPC and other European regulators\nregarding various aspects of our regulatory compliance. For example, on May 12, 2023, the IDPC issued a Final Decision concluding that Meta Platforms\nIreland's reliance on Standard Contractual Clauses in respect of certain transfers of European Economic Area (EEA) Facebook user data was not in compliance\nwith the GDPR. The IDPC issued an administrative fine of EUR \u20ac1.2 billion as well as corrective orders, which is described further in \"Legal Proceedings\"\ncontained in Part I, Item 3 of this Annual Report on Form 10-K. The interpretation of the GDPR is still evolving, including through decisions of the Court of\nJustice of the European Union, and draft decisions in investigations by the IDPC are subject to review by other European privacy regulators as part of the\nGDPR's cooperation and consistency mechanisms, which may lead to significant changes in the final outcome of such investigations. As a result, the\ninterpretation and enforcement of the GDPR, as well as the imposition and amount of penalties for non-compliance, are subject to significant uncertainty.\nAlthough we are vigorously defending our regulatory compliance, we have accrued significant amounts for loss contingencies related to these inquiries and\ninvestigations in Europe, and we believe there is a reasonable possibility that additional accruals for losses related to these matters could be material\nindividually or in the aggregate.\nOn February 14, 2022, the State of Texas filed a lawsuit against us in Texas state court (Texas v. Meta Platforms, Inc.) alleging that \"tag suggestions\" and\nother uses of facial recognition technology violated the Texas Capture or Use of Biometric Identifiers Act and the Texas Deceptive Trade Practices-Consumer\nProtection Act, and seeking statutory damages and injunctive relief. The case is currently scheduled for trial in June 2024.\nBeginning on June 7, 2021, multiple putative class actions were filed against us alleging that we improperly received individuals' information from\nthird-party websites or apps via our business tools in violation of our terms and various state and federal laws and seeking unspecified damages and injunctive"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0e08-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 117, "chroma:document": "relief (for example, In re Meta Pixel Healthcare Litigation; In re Meta Pixel Tax Filing Cases; Frasco v. Flo Health, Inc.; Doe v. Hey Favor, Inc. et al.; Doe v.\nGoodRx Holdings, Inc. et al. in the U.S. District Court for the Northern District of California; and Rickwalder, et al. v. Meta Platforms, Inc. in the California\nSupreme Court).\nCompetition\nWe are subject to various litigation and government inquiries and investigations, formal or informal, by competition authorities in the United States,\nEurope, and other jurisdictions. Such investigations, inquiries, and lawsuits concern, among other things, our business practices in the areas of social\nnetworking or social media services, digital advertising, and/or mobile or online applications, as well as our acquisitions. For example, in 2019 we became the\nsubject of antitrust investigations by the FTC, and U.S. Department of Justice. On December 9, 2020, the FTC filed a complaint (FTC v. Meta Platforms, Inc.)\nagainst us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct and unfair methods of competition in\nviolation of Section 5 of the Federal Trade Commission Act and Section 2 of\n117"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0e62-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 118, "chroma:document": "Table of Contents\nthe Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. The FTC sought a\npermanent injunction against our company's alleged violations of the antitrust laws, and other equitable relief, including divestiture or reconstruction of\nInstagram and WhatsApp. On June 28, 2021, the court granted our motion to dismiss the complaint filed by the FTC with leave to amend. On August 19, 2021,\nthe FTC filed an amended complaint, and on October 4, 2021, we filed a motion to dismiss this amended complaint. On January 11, 2022, the court denied our\nmotion to dismiss the FTC's amended complaint. Multiple putative class actions have also been filed in state and federal courts in the United States and in the\nUnited Kingdom against us alleging violations of antitrust laws and other causes of action in connection with these acquisitions and/or other alleged\nanticompetitive conduct, and seeking damages and injunctive relief. Several of the cases brought on behalf of certain advertisers and users in the United States\nwere consolidated in the U.S. District Court for the Northern District of California (Klein et al., v. Meta Platforms, Inc.). On January 14, 2022, the court\ngranted, in part, and denied, in part, our motion to dismiss the consolidated actions. On March 1, 2022, a first amended consolidated complaint was filed in the\nputative class action brought on behalf of certain advertisers. On December 6, 2022, the court denied our motion to dismiss the first amended consolidated\ncomplaint filed in the putative class action brought on behalf of certain advertisers. In December 2022, the European Commission issued a Statement of\nObjections alleging that we tie Facebook Marketplace to Facebook and use data in a manner that infringes European Union competition rules.\nSecurities and Other Actions\nBeginning on March 20, 2018, multiple putative class actions and derivative actions were filed in state and federal courts in the United States and\nelsewhere against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in\nconnection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0ebc-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 118, "chroma:document": "our terms and policies, and seeking unspecified damages and injunctive relief. Beginning on July 27, 2018, two putative class actions were filed in federal court\nin the United States against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings\nresults for the second quarter of 2018 and seeking unspecified damages. These two actions subsequently were transferred and consolidated in the U.S. District\nCourt for the Northern District of California (In Re Facebook, Inc. Securities Litigation) with the putative securities class action described above relating to our\nplatform and user data practices. In a series of orders in 2019 and 2020, the district court granted our motions to dismiss the plaintiffs' claims. On January 17,\n2022, the plaintiffs filed a notice of appeal of the order dismissing their case, and on October 18, 2023, the U.S. Court of Appeals for the Ninth Circuit issued\nits decision affirming in part and reversing in part the district court's order dismissing the plaintiffs' case.\nWe are also subject to other government inquiries and investigations relating to our business activities and disclosure practices. For example, beginning\nin September 2021, we became subject to government investigations and requests relating to a former employee's allegations and release of internal company\ndocuments concerning, among other things, our algorithms, advertising and user metrics, and content enforcement practices, as well as misinformation and\nother undesirable activity on our platform, and user well-being. We have since received additional requests relating to these and other topics. Beginning on\nOctober 27, 2021, multiple putative class actions and derivative actions were filed in the U.S. District Court for the Northern District of California against us\nand certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with the same\nmatters, and seeking unspecified damages. Ohio Pub. Empl. Ret. Sys. v. Meta Platforms, Inc.\nOn March 8, 2022, a putative class action was filed in the U.S. District Court for the Northern District of California against us and certain of our\ndirectors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the fourth quarter of 2021 and seeking"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0f16-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 118, "chroma:document": "unspecified damages (Plumbers & Steamfitters Local 60 Pension Trust v. Meta Platforms, Inc.). On July 18, 2023, the court dismissed the claims against Meta\nand its officers with leave to amend. On September 18, 2023, the plaintiffs filed an amended complaint.\nYouth-Related Actions\nBeginning in January 2022, we became subject to litigation and other proceedings that were filed in various federal and state courts alleging that\nFacebook and Instagram cause \"social media addiction\" in users, with most proceedings focused on those under 18 years old, resulting in various mental health\nand other harms. Putative class actions have been filed in the United States and Canada on behalf of users in those jurisdictions, and numerous school districts,\nmunicipalities, and one state in the United States have filed public nuisance claims based on similar allegations. On October 6, 2022, the federal cases were\ncentralized in the U.S. District Court for the Northern District of California (In re Social Media Adolescent\n118"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0f98-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 119, "chroma:document": "Table of Contents\nAddiction Product Liability Personal Injury Litigation). On October 13, 2023, in In re Social Media Cases, the Los Angeles County Superior Court presiding\nover the California state court proceedings sustained in part and overruled in part our demurrer as to the plaintiff's claims. Beginning in October 2023,\nadditional U.S. states have filed lawsuits on these topics in various federal and state courts. These additional lawsuits include allegations regarding violations of\nthe Children's Online Privacy Protection Act (COPPA) as well as violations of state laws concerning consumer protection, unfair business practices, and\nproducts liability, with proceedings focused on our alleged business practices and harms to users under 18 years old. These lawsuits seek damages and\ninjunctive relief, and include cases filed by various state attorneys general in In re Social Media Adolescent Addiction Product Liability Personal Injury\nLitigation in the U.S. District Court for the Northern District of California, as well as various state courts around the country. We are also subject to government\ninvestigations and requests from multiple regulators concerning the use of our products, and the alleged mental and physical health and safety impacts on users,\nparticularly younger users.\nOther Actions\nBeginning on August 15, 2018, multiple putative class actions were filed against us alleging that we inflated our estimates of the potential audience size\nfor advertisements, resulting in artificially increased demand and higher prices. The cases were consolidated in the U.S. District Court for the Northern District\nof California (DZ Reserve v. Facebook, Inc.) and seek unspecified damages and injunctive relief. In a series of rulings in 2019, 2021, and 2022, the court\ndismissed certain of the plaintiffs' claims, but permitted their fraud and unfair competition claims to proceed. On March 29, 2022, the court granted the\nplaintiffs' motion for class certification. On June 21, 2022, the U.S. Court of Appeals for the Ninth Circuit granted our petition for permission to appeal the\ndistrict court's class certification order, and the court heard argument on September 12, 2023. The case is stayed in the district court pending appeal.\nBeginning on July 7, 2023, multiple putative class actions were filed against us in the U.S. District Court for the Northern District of California (Kadrey,"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b0ff2-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 119, "chroma:document": "et al. v. Meta Platforms, Inc. and Chabon, et al. v. Meta Platforms, Inc.) and U.S. District Court for the Southern District of New York (Huckabee, et al. v. Meta\nPlatforms, Inc. et al.), which was subsequently transferred to the U.S. District Court for the Northern District of California) alleging that we used various\ncopyrighted books and materials to train our artificial intelligence models, and seeking unspecified damages and injunctive relief.\nIn addition, we are subject to litigation and other proceedings involving law enforcement and other regulatory agencies, including in particular in Brazil,\nRussia, and other countries in Europe, in order to ascertain the precise scope of our legal obligations to comply with the requests of those agencies, including\nour obligation to disclose user information in particular circumstances. A number of such instances have resulted in the assessment of fines and penalties\nagainst us. We believe we have multiple legal grounds to satisfy these requests or prevail against associated fines and penalties, and we intend to vigorously\ndefend such fines and penalties.\nIndemnifications\nIn the normal course of business, to facilitate transactions of services and products, we have agreed to indemnify certain parties with respect to certain\nmatters. We have agreed to hold certain parties harmless against losses arising from a breach of representations or covenants, or out of intellectual property\ninfringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of\nthe claim. In addition, we have entered into indemnification agreements with our officers, directors, and certain employees, and our certificate of incorporation\nand bylaws contain similar indemnification obligations.\nIt is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification\nclaims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by us under these agreements have not had a\nmaterial impact on our consolidated financial statements. In our opinion, as of December 31, 2023, there was not a reasonable possibility we had incurred a\nmaterial loss with respect to indemnification of such parties. We have not recorded any liability for costs related to indemnification through December 31,\n2023.\n119"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1042-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 120, "chroma:document": "Table of Contents\nNote 13. Stockholders' Equity\nCommon Stock\nOur certificate of incorporation authorizes the issuance of Class A common stock and Class B common stock. As of December 31, 2023, we are\nauthorized to issue 5,000 million shares of Class A common stock and 4,141 million shares of Class B common stock, each with a par value of $0.000006 per\nshare. Holders of our Class A common stock and Class B common stock are entitled to dividends when, as, and if declared by our board of directors, subject to\nthe rights of the holders of all classes of stock outstanding having priority rights to dividends. The holder of each share of Class A common stock is entitled to\none vote, while the holder of each share of Class B common stock is entitled to ten votes. Shares of our Class B common stock are convertible into an\nequivalent number of shares of our Class A common stock and generally convert into shares of our Class A common stock upon transfer. Class A common\nstock and Class B common stock are collectively referred to as common stock throughout the notes to these financial statements, unless otherwise noted.\nAs of December 31, 2023, there were 2,211 million shares of Class A common stock and 350 million shares of Class B common stock issued and\noutstanding.\nCapital Return Program\nShare Repurchase\nOur board of directors has authorized a share repurchase program of our Class A common stock, which commenced in January 2017 and does not have\nan expiration date. As of December 31, 2022, $10.87 billion remained available and authorized for repurchases under this program. In January 2023, an\nadditional $40 billion of repurchases was authorized under this program. In 2023, we repurchased and subsequently retired 92 million shares of our Class A\ncommon stock for an aggregate amount of $20.03 billion, which includes the 1% excise tax accruals as a result of the Inflation Reduction Act of 2022. As of\nDecember 31, 2023, $30.93 billion remained available and authorized for repurchases. In January 2024, an additional $50 billion of repurchases was authorized\nunder this program.\nThe timing and actual number of shares repurchased under the repurchase program depend on a variety of factors, including price, general business and"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b109c-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 120, "chroma:document": "market conditions, and other investment opportunities. Shares may be repurchased through open market purchases or privately negotiated transactions,\nincluding through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.\nDividend\nOn February 1, 2024, we announced the initiation of our first ever cash dividend program. This cash dividend of $0.50 per share of common stock is\nequivalent to $2.00 per share on an annual basis. The first cash dividend will be paid on March 26, 2024 to all holders of record of common stock at the close\nof business on February 22, 2024.\nSubject to legally available funds and future declaration by our board of directors, we currently intend to continue to pay a quarterly cash dividend on\nour outstanding common stock. The declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account\nvarious factors, including our financial condition, operating results, available cash, and current and anticipated cash needs.\nShare-based Compensation Plan\nWe have one active share-based employee compensation plan, the 2012 Equity Incentive Plan (Amended 2012 Plan), which was amended in each of\nJune 2016, February 2018, and December 2022. Our Amended 2012 Plan provides for the issuance of incentive and nonqualified stock options, restricted stock\nawards, stock appreciation rights, RSUs, performance shares, and stock bonuses to qualified employees, directors, and consultants. Shares that are withheld in\nconnection with the net settlement of RSUs or forfeited are added to the reserves of the Amended 2012 Plan.\nOn March 1, 2023, the number of shares available for issuance under the Amended 2012 Plan increased by 425 million shares pursuant to the December\n2022 amendment. As of December 31, 2023, there were 494 million shares of our Class A common stock reserved for future issuance under our Amended 2012\nPlan.\n120"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b10f6-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 121, "chroma:document": "Table of Contents\nThe following table summarizes our share-based compensation expense, which consists of the RSU expense, by line item in our consolidated statements\nof income (in millions):\nYear Ended December 31, \n2023 2022 2021\nCost of revenue $ 740 $ 768 $ 577 \nResearch and development 11,429 9,361 7,106 \nMarketing and sales 952 1,004 837 \nGeneral and administrative 906 859 644 \nTotal share-based compensation expense $ 14,027 $ 11,992 $ 9,164 \nThe following table summarizes the activities for our unvested RSUs for the year ended December 31, 2023:\nNumber of SharesWeighted-Average Grant\nDate Fair Value Per\nShare\n(in thousands)\nUnvested at December 31, 2022 127,110 $ 216.93 \nGranted 112,066 $ 202.46 \nVested (65,402)$ 210.74 \nForfeited (24,712)$ 210.39 \nUnvested at December 31, 2023 149,062 $ 209.85 \nThe weighted-average grant date fair value of RSUs granted in the years ended December 31, 2022 and 2021 was $195.66 and $305.40, respectively.\nThe fair value as of the respective vesting dates of RSUs that vested during the years ended December 31, 2023, 2022, and 2021 was $17.46 billion,\n$9.44 billion, and $14.42 billion, respectively. The income tax benefit recognized related to awards vested during the years ended December 31, 2023, 2022,\nand 2021 was $3.65 billion, $2.00 billion, and $3.08 billion, respectively.\nAs of December 31, 2023, there was $29.46 billion of unrecognized share-based compensation expense related to RSU awards. This unrecognized\ncompensation expense is expected to be recognized over a weighted-average period of approximately three years based on vesting under the award service\nconditions.\nNote 14. Interest and Other Income (Expense), Net\nThe following table presents the detail of interest and other income (expense), net (in millions):\nYear Ended December 31,"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1146-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 121, "chroma:document": "Year Ended December 31,\n2023 2022 2021\nInterest income $ 1,639 $ 461 $ 484 \nInterest expense (446) (185) (23)\nForeign currency exchange losses, net (366) (81) (140)\nOther income (expense), net (150) (320) 210 \nInterest and other income (expense), net $ 677 $ (125)$ 531 \n121"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b11a0-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 122, "chroma:document": "Table of Contents\nNote 15. Income Taxes\nThe components of income before provision for income taxes are as follows (in millions):\n Year Ended December 31, \n 2023 2022 2021\nDomestic $ 43,499 $ 25,025 $ 43,669 \nForeign 3,929 3,794 3,615 \nIncome before provision for income taxes $ 47,428 $ 28,819 $ 47,284 \nThe provision for income taxes consists of the following (in millions):\n Year Ended December 31, \n 2023 2022 2021\nCurrent:    \nFederal $ 4,934 $ 6,094 $ 4,971 \nState 577 874 548 \nForeign 2,688 1,928 1,786 \nTotal current tax expense 8,199 8,896 7,305 \nDeferred:    \nFederal 67 (2,776) 585 \nState 123 (405) 43 \nForeign (59) (96) (19)\nTotal deferred tax (benefits)/expense 131 (3,277) 609 \nProvision for income taxes $ 8,330 $ 5,619 $ 7,914 \n \nA reconciliation of the U.S. federal statutory income tax rates to our effective tax rate is as follows (in percentages):\n Year Ended December 31, \n 2023 2022 2021\nU.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 %\nState income taxes, net of federal benefit 1.1 1.0 1.0 \nShare-based compensation (0.6) 2.6 (1.7)\nResearch and development tax credits (1.5) (2.4) (1.3)\nForeign-derived intangible income deduction (4.3) (7.0) (3.5)\nEffect of non-U.S. operations 0.9 3.0 0.9 \nOther 1.0 1.3 0.3 \nEffective tax rate 17.6 % 19.5 % 16.7 %\n122"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b11fa-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 123, "chroma:document": "Table of Contents\nOur deferred tax assets (liabilities) are as follows (in millions):\n December 31, \n 2023 2022\nDeferred tax assets:   \nLoss carryforwards $ 353 $ 234 \nTax credit carryforwards 2,028 1,576 \nShare-based compensation 459 368 \nAccrued expenses and other liabilities 2,168 1,627 \nLease liabilities 3,752 3,200 \nCapitalized research and development 9,292 8,175 \nUnrealized losses in securities and investments 232 489 \nOther 487 621 \nTotal deferred tax assets 18,771 16,290 \nLess: valuation allowance (2,879) (2,493)\nDeferred tax assets, net of valuation allowance 15,892 13,797 \nDeferred tax liabilities:   \nDepreciation and amortization (8,320) (6,296)\nRight-of-use assets (2,708) (2,555)\nTotal deferred tax liabilities (11,028) (8,851)\nNet deferred tax assets $ 4,864 $ 4,946 \nThe valuation allowance was approximately $2.88 billion and $2.49 billion as of December 31, 2023 and 2022, respectively, primarily related to U.S.\nstate tax credit carryforwards, U.S. foreign tax credits, unrealized losses in marketable securities, and certain foreign tax attributes for which we do not believe\na tax benefit is more likely than not to be realized.\nAs of December 31, 2023, the U.S. federal and state net operating loss carryforwards were $200 million and $2.78 billion, which will begin to expire in\n2035 and 2031, respectively, if not utilized. We have federal tax credit carryforwards of $490 million, which will begin to expire in 2029, if not utilized, and\nstate tax credit carryforwards of $4.08 billion, most of which do not expire.\nUtilization of our net operating loss and tax credit carryforwards may be subject to substantial annual limitations due to the ownership change limitations\nprovided by the Internal Revenue Code and similar state provisions. Such annual limitations could result in the expiration of the net operating loss and tax"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b124a-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 123, "chroma:document": "credit carryforwards before their utilization. The events that may cause ownership changes include, but are not limited to, a cumulative stock ownership change\nof greater than 50% over a three\u2011year period.\nThe following table reflects changes in the gross unrecognized tax benefits (in millions):\n Year Ended December 31, \n 2023 2022 2021\nGross unrecognized tax benefits \u2011 beginning of period $ 10,757 $ 9,807 $ 8,692 \nIncreases related to prior year tax positions 168 210 328 \nDecreases related to prior year tax positions (264) (172) (86)\nIncreases related to current year tax positions 1,204 1,166 963 \nDecreases related to settlements of prior year tax positions (199) (254) (90)\nGross unrecognized tax benefits \u2011 end of period $ 11,666 $ 10,757 $ 9,807 \n123"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b12a4-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 124, "chroma:document": "Table of Contents\nThese unrecognized tax benefits were primarily accrued for the uncertainties related to transfer pricing with our foreign subsidiaries, which include\nlicensing of intellectual property, providing services and other transactions, as well as for the uncertainties with our research tax credits. During all years\npresented, we recognized interest and penalties related to unrecognized tax benefits within the provision for income taxes on our consolidated statements of\nincome. The amount of interest and penalties accrued as of December 31, 2023, 2022, and 2021 were $1.48 billion, $1.07 billion, and $960 million\nrespectively.\nIf our gross unrecognized tax benefits of $11.67 billion as of December 31, 2023 were realized in a future period, this would result in a tax benefit of\n$7.33 billion within our provision of income taxes at such time.\nWe are subject to taxation in the United States and various other state and foreign jurisdictions. The material jurisdictions in which we are subject to\npotential examination include the United States and Ireland. We are under examination by the Internal Revenue Service (IRS) for our 2017 through 2019 tax\nyears. Our 2014 through 2016 tax years are with the IRS Independent Office of Appeals for certain unresolved issues. Our 2020 and subsequent tax years\nremain open to examination by the IRS and the Irish Revenue Commissioners.\nIn July 2016, we received a Statutory Notice of Deficiency (Notice) from the IRS related to transfer pricing with our foreign subsidiaries in conjunction\nwith the examination of the 2010 tax year. While the Notice applies only to the 2010 tax year, the IRS stated that it will also apply its position for tax years\nsubsequent to 2010 and has done so in years covered by the second Notice described below. We do not agree with the position of the IRS and have filed a\npetition in the Tax Court challenging the Notice. On January 15, 2020, the IRS's amendment to answer was filed stating that it planned to assert at trial an\nadjustment that is higher than the adjustment stated in the Notice. The first session of the trial was completed in March 2020 and the final trial session was\ncompleted in August 2022. We expect the Tax Court to issue an opinion in 2024. Based on the information provided, we believe that, if the IRS prevails in its"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1308-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 124, "chroma:document": "updated position, this could result in an additional federal tax liability of an estimated, aggregate amount of up to approximately $9.0 billion in excess of the\namounts in our originally filed U.S. return, plus interest and any penalties asserted.\nIn March 2018, we received a second Notice from the IRS in conjunction with the examination of our 2011 through 2013 tax years. The IRS applied its\nposition from the 2010 tax year to each of these years and also proposed new adjustments related to other transfer pricing with our foreign subsidiaries and\ncertain tax credits that we claimed. If the IRS prevails in its position for these new adjustments, this could result in an additional federal tax liability of up to\napproximately $680 million in excess of the amounts in our originally filed U.S. returns, plus interest and any penalties asserted. We do not agree with the\npositions of the IRS in the second Notice and have filed a petition in the Tax Court challenging the second Notice.\nWe have previously accrued an estimated unrecognized tax benefit consistent with the guidance in ASC 740, Income Taxes (ASC 740), that is lower than\nthe potential additional federal tax liability from the positions taken by the IRS in the two Notices and its Pretrial Memorandum. In addition, if the IRS prevails\nin its positions related to transfer pricing with our foreign subsidiaries, the additional tax that we would owe would be partially offset by a reduction in the tax\nthat we owe under the mandatory transition tax on accumulated foreign earnings from the 2017 Tax Cuts and Jobs Act. As of December 31, 2023, we have not\nresolved these matters and proceedings continue in the Tax Court.\nWe believe that adequate amounts have been reserved in accordance with ASC 740 for any adjustments to the provision for income taxes or other tax\nitems that may ultimately result from these examinations. The timing of the resolution, settlement, and closure of any audits is highly uncertain, and it is\nreasonably possible that the balance of gross unrecognized tax benefits could significantly change in the next 12 months. Given the number of years remaining\nthat are subject to examination, we are unable to estimate the full range of possible adjustments to the balance of gross unrecognized tax benefits. If the tax\nauthorities prevail in the assessment of additional tax due, the assessed tax, interest, and penalties, if any, could have a material adverse impact on our financial\nposition, results of operations, and cash flows.\n124"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1362-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 125, "chroma:document": "Table of Contents\nNote 16. Segment and Geographical Information\nWe report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram,\nMessenger, WhatsApp, and other services. RL includes our augmented, mixed and virtual reality related consumer hardware, software, and content. Our\noperating segments are the same as our reportable segments.\nOur chief executive officer is our chief operating decision maker (CODM), who allocates resources to and assesses the performance of each operating\nsegment using information about the operating segment's revenue and income (loss) from operations. Our CODM does not evaluate operating segments using\nasset or liability information.\nRevenue and costs and expenses are generally directly attributed to our segments. These costs and expenses include certain product development related\noperating expenses, costs associated with partnership arrangements, consumer hardware product costs, content costs, legal-related costs, and severance costs.\nIndirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the\noperating segments. Indirect cost of revenue is allocated to our segments based on usage, such as costs related to the operation of our data centers and technical\ninfrastructure. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, physical\nsecurity expenses, and certain restructuring costs, are mostly allocated based on headcount.\nThe following table sets forth our segment information of revenue and income (loss) from operations (in millions):\n Year Ended December 31, \n 2023 2022 2021\nRevenue:\nFamily of Apps $ 133,006 $ 114,450 $ 115,655 \nReality Labs 1,896 2,159 2,274 \nTotal revenue $ 134,902 $ 116,609 $ 117,929 \nIncome (loss) from operations:\nFamily of Apps $ 62,871 $ 42,661 $ 56,946 \nReality Labs (16,120) (13,717) (10,193)\nTotal income from operations $ 46,751 $ 28,944 $ 46,753 \nFor information regarding revenue disaggregated by geography, see Note 2 \u2014 Revenue.\nThe following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b13b2-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 125, "chroma:document": "assets (in millions):\n December 31,\n 2023 2022\nUnited States $ 91,940 $ 76,334 \nRest of the world 17,941 15,857 \nTotal long-lived assets $ 109,881 $ 92,191 \n_________________________\n(1) No individual country , other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.(1)\n125"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b140c-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 126, "chroma:document": "Table of Contents\nItem 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure\nNone.\nItem 9A.Controls and Procedures\nEvaluation of Disclosure Controls and Procedures\nOur management, with the participation of our chief executive officer (CEO) and chief financial officer (CFO), has evaluated the effectiveness of our\ndisclosure controls and procedures (as defined in Rules 13a- 15(e) and 15d- 15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act)), as\nof the end of the period covered by this Annual Report on Form 10-K. Based on such evaluation, our CEO and CFO have concluded that as of December 31,\n2023, our disclosure controls and procedures are designed at a reasonable assurance level and are effective to provide reasonable assurance that information we\nare required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods\nspecified in the rules and forms of the Securities and Exchange Commission, and that such information is accumulated and communicated to our management,\nincluding our CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.\nManagement's Report on Internal Control over Financial Reporting\nOur management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under\nthe Exchange Act). Management conducted an assessment of the effectiveness of our internal control over financial reporting based on the criteria set forth in\nInternal Control\u2014Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework). Based on the\nassessment, management has concluded that its internal control over financial reporting was effective as of December 31, 2023 to provide reasonable assurance\nregarding the reliability of financial reporting and the preparation of financial statements in accordance with U.S. GAAP. Our independent registered public\naccounting firm, Ernst & Young LLP, has issued an audit report with respect to our internal control over financial reporting, which appears in Part II, Item 8 of\nthis Annual Report on Form 10-K.\nChanges in Internal Control\nThere were no changes in our internal control over financial reporting identified in management's evaluation pursuant to Rules 13a-15(d) or 15d-15(d) of\nthe Exchange Act during the fourth quarter of 2023 that materially affected, or are reasonably likely to materially affect, our internal control over financial"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1466-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 126, "chroma:document": "reporting.\nLimitations on Effectiveness of Controls and Procedures and Internal Control over Financial Reporting\nIn designing and evaluating the disclosure controls and procedures and internal control over financial reporting, management recognizes that any\ncontrols and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In\naddition, the design of disclosure controls and procedures and internal control over financial reporting must reflect the fact that there are resource constraints\nand that management is required to apply judgment in evaluating the benefits of possible controls and procedures relative to their costs.\nItem 9B.Other Information\nRule 10b5-1 Trading Plans\nOn November 30, 2023, Jennifer Newstead, our Chief Legal Officer, entered into a trading plan intended to satisfy the affirmative defense conditions of\nRule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The trading plan provides for the sale of an aggregate of 10,968 shares of our Class A\ncommon stock and all shares received during the duration of the plan pursuant to Ms. Newstead's outstanding equity awards and any future equity award\ngrants, excluding any shares withheld by the company to satisfy its income tax withholding and remittance obligations in connection with the net settlement of\nthe equity awards. The plan will terminate on May 13, 2025, subject to early termination for certain specified events set forth in the plan.\nItem 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections\nNot Applicable.\n126"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b14c0-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 127, "chroma:document": "Table of Contents\nPART III\nItem 10.Directors, Executive Officers and Corporate Governance\nThe information required by this item is incorporated by reference to our Proxy Statement for the 2024 Annual Meeting of Stockholders to be filed with\nthe SEC within 120 days of the fiscal year ended December 31, 2023.\nOur board of directors has adopted a Code of Conduct applicable to all officers, directors, and employees, which is available on our website\n(investor.fb.com) under \"Leadership & Governance.\" We intend to satisfy the disclosure requirement under Item 5.05 of Form 8-K regarding amendment to, or\nwaiver from, a provision of our Code of Conduct by posting such information on the website address and location specified above.\nItem 11.Executive Compensation\nThe information required by this item is incorporated by reference to our Proxy Statement for the 2024 Annual Meeting of Stockholders to be filed with\nthe SEC within 120 days of the fiscal year ended December 31, 2023.\nItem 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters\nThe information required by this item is incorporated by reference to our Proxy Statement for the 2024 Annual Meeting of Stockholders to be filed with\nthe SEC within 120 days of the fiscal year ended December 31, 2023.\nItem 13.Certain Relationships and Related Transactions, and Director Independence\nThe information required by this item is incorporated by reference to our Proxy Statement for the 2024 Annual Meeting of Stockholders to be filed with\nthe SEC within 120 days of the fiscal year ended December 31, 2023.\nItem 14.Principal Accountant Fees and Services\nThe information required by this item is incorporated by reference to our Proxy Statement for the 2024 Annual Meeting of Stockholders to be filed with\nthe SEC within 120 days of the fiscal year ended December 31, 2023.\n127"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 128, "chroma:document": "Table of Contents\nPART IV\nItem 15. Exhibit and Financial Statement Schedules\nWe have filed the following documents as part of this Form 10-K:\n1. Consolidated Financial Statements:\nPage\nReports of Independent Registered Public Accounting Firm (PCAOB ID No. 42) 85\nConsolidated Balance Sheets 89\nConsolidated Statements of Income 90\nConsolidated Statements of Comprehensive Income 91\nConsolidated Statements of Stockholders' Equity 92\nConsolidated Statements of Cash Flows 93\nNotes to Consolidated Financial Statements 95\n    \n2. Financial Statement Schedules\nAll schedules have been omitted because they are not required, not applicable, not present in amounts sufficient to require submission of the schedule, or the\nrequired information is otherwise included.\n3. Exhibits\nExhibit Incorporated by ReferenceFiled\nHerewith Number Exhibit Description Form File No. Exhibit Filing Date\n3.1 Amended and Restated Certificate of Incorporation. 8-K 001-35551 3.1 October 28, 2021\n3.2 Amended and Restated Bylaws. 8-K 001-35551 3.2 October 28, 2021\n4.1 Form of Class A Common Stock Certificate. 10-K 001-35551 4.1 February 3, 2022\n4.2 Form of Class B Common Stock Certificate. 10-K 001-35551 4.2 February 3, 2022\n4.3 Indenture, dated as of August 9, 2022, between Meta\nPlatforms, Inc. and U.S. Bank Trust Company,\nNational Association, as trustee.8-K 001-35551 4.1 August 9, 2022\n4.4 First Supplemental Indenture, dated as of August 9,\n2022, between Meta Platforms, Inc. and U.S. Bank\nTrust Company, National Association, as trustee.8-K 001-35551 4.2 August 9, 2022\n4.5 Second Supplemental Indenture, dated as of May 3,\n2023, by and between Meta Platforms, Inc. and U.S.\nBank Trust Company, National Association, as\ntrustee.8-K 001-35551 4.1 May 3, 2023"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 128, "chroma:document": "4.6 Description of Registrant's Capital Stock. X\n10.1+ Form of Indemnification Agreement. 8-K 001-35551 10.1 April 15, 2019\n10.2(A)+ 2012 Equity Incentive Plan, as amended. 10-K 001-35551 10.2(A) February 2, 2023\n10.2(B)+ Third Amendment to the 2012 Equity Incentive Plan.10-K 001-35551 10.2(B) February 2, 2023\n10.2(C)+ 2012 Equity Incentive Plan forms of award\nagreements.10-Q 001-35551 10.2 July 31, 2012\n10.2(D)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-Q 001-35551 10.1 May 4, 2017\n128"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 129, "chroma:document": "Table of Contents\nExhibit Incorporated by ReferenceFiled\nHerewith Number Exhibit Description Form File No. Exhibit Filing Date\n10.2(E)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-Q 001-35551 10.1 July 27, 2017\n10.2(F)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-Q 001-35551 10.2 April 26, 2018\n10.2(G)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-K 001-35551 10.3(G) January 31, 2019\n10.2(H)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-Q 001-35551 10.2 April 25, 2019\n10.2(I)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-Q 001-35551 10.2 April 30, 2020\n10.2(J)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-Q 001-35551 10.2 July 29, 2021\n10.2(K)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-Q 001-35551 10.3 April 28, 2022\n10.2(L)+ 2012 Equity Incentive Plan forms of award\nagreements (Additional Forms).10-Q 001-35551 10.1 April 27, 2023\n10.3+ Amended and Restated Bonus Plan, effective January\n1, 2023.10-Q 001-35551 10.1 October 26, 2023\n10.4+ Amended and Restated Offer Letter, dated January\n27, 2012, between Registrant and Mark Zuckerberg.S-1 333-179287 10.6 February 8, 2012\n10.5+ Offer Letter, dated June 5, 2020, between Registrant\nand Christopher K. Cox.10-Q 001-35551 10.1 April 29, 2021\n10.6+ Offer Letter, dated December 22, 2022, between"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 129, "chroma:document": "Registrant and Javier Olivan.10-K 001-35551 10.8 February 2, 2023\n10.7+ Offer Letter, dated March 14, 2022, between\nRegistrant and Andrew Bosworth.10-Q 001-35551 10.3 April 27, 2023\n10.8+ Offer Letter, dated November 1, 2022, between\nRegistrant and Susan Li.10-Q 001-35551 10.4 April 27, 2023\n10.9+ Form of Executive Officer Offer Letter. 10-Q 001-35551 10.3 July 25, 2019\n10.10+ Director Compensation Policy, as amended. 10-Q 001-35551 10.5 April 27, 2023\n10.11+ Deferred Compensation Plan for Non-Employee\nDirectors.10-K 001-35551 10.12 February 2, 2023\n10.12+ Indemnification Agreement Relating to Subsidiary\nOperations, dated March 14, 2021, between\nRegistrant and Mark Zuckerberg.10-Q 001-35551 10.2 April 29, 2021\n21.1 List of Subsidiaries. X\n23.1 Consent of Independent Registered Public\nAccounting Firm.X\n31.1 Certification of Mark Zuckerberg, Chief Executive\nOfficer, pursuant to Rule 13a-14(a)/15d-14(a), as\nadopted pursuant to Section 302 of the Sarbanes-\nOxley Act of 2002.X\n31.2 Certification of Susan Li, Chief Financial Officer,\npursuant to Rule 13a-14(a)/15d-14(a), as adopted\npursuant to Section 302 of the Sarbanes-Oxley Act of\n2002.X\n32.1# Certification of Mark Zuckerberg, Chief Executive\nOfficer, pursuant to 18 U.S.C. Section 1350, as\nadopted pursuant to Section 906 of the Sarbanes-\nOxley Act of 2002.X\n129"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 130, "chroma:document": "Table of Contents\nExhibit Incorporated by ReferenceFiled\nHerewith Number Exhibit Description Form File No. Exhibit Filing Date\n32.2# Certification of Susan Li, Chief Financial Officer,\npursuant to 18 U.S.C. Section 1350, as adopted\npursuant to Section 906 of the Sarbanes-Oxley Act of\n2002.X\n97.1 Compensation Recoupment Policy. X\n101.INS Inline XBRL Instance Document (the instance\ndocument does not appear in the Interactive Data File\nbecause its XBRL tags are embedded within the\nInline XBRL document).X\n101.SCH Inline XBRL Taxonomy Extension Schema\nDocument.X\n101.CAL Inline XBRL Taxonomy Extension Calculation\nLinkbase Document.X\n101.DEF Inline XBRL Taxonomy Extension Definition\nLinkbase Document.X\n101.LAB Inline XBRL Taxonomy Extension Labels Linkbase\nDocument.X\n101.PRE Inline XBRL Taxonomy Extension Presentation\nLinkbase Document.X\n104 Cover Page Interactive Data File (formatted as inline\nXBRL and contained in Exhibit 101).X\n+ Indicates a management contract or compensatory plan.    \n# This certification is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (Exchange Act), or otherwise\nsubject to the liability of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the\nExchange Act.\nItem 16. Form 10-K Summary\nNone.\n130"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 131, "chroma:document": "Table of Contents\nSIGNATURES\nPursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Annual Report on Form\n10-K to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Menlo Park, State of California, on this 1st day of February 2024.\nMETA PLATFORMS, INC.\nDate: February 1, 2024 /s/ Susan Li \nSusan Li\nChief Financial Officer\n \n131"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 132, "chroma:document": "Table of Contents\nPOWER OF ATTORNEY\nKNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Susan Li and Katherine R.\nKelly, and each of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or\nher name, place and stead, in any and all capacities, to sign any and all amendments to this Annual Report on Form 10-K, and to file the same, with all exhibits\nthereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each\nof them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all\nintents and purposes as he or she might or could do in person, hereby ratifying and confirming that all said attorneys-in-fact and agents, or any of them or their\nor his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.\nPursuant to the requirements of the Securities Exchange Act of 1934, this Annual Report on Form 10-K has been signed by the following persons on\nbehalf of the Registrant and in the capacities and on the dates indicated: \nSignatur e Title Date\n/s/ Mark Zuckerberg Board Chair and Chief Executive Officer\n(Principal Executive Officer)February 1, 2024\nMark Zuckerberg\n/s/ Susan Li Chief Financial Officer\n(Principal Financial Officer)February 1, 2024\nSusan Li\n/S/ Aaron Anderson Chief Accounting Officer\n(Principal Accounting Officer)February 1, 2024\nAaron Anderson\n/s/ Peggy Alford Director February 1, 2024\nPeggy Alford\n/s/ Marc L. Andreessen Director February 1, 2024\nMarc L. Andreessen\n/s/ Andrew W. Houston Director February 1, 2024\nAndrew W. Houston\n/s/ Nancy Killefer Director February 1, 2024\nNancy Killefer\n/s/ Robert M. Kimmitt Director February 1, 2024\nRobert M. Kimmitt\n/s/ Sheryl K. Sandberg Director February 1, 2024\nSheryl K. Sandberg"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 132, "chroma:document": "Sheryl K. Sandberg\n/s/ Tracey T. Travis Director February 1, 2024\nTracey T. Travis\n/s/ Tony Xu Director February 1, 2024\nTony Xu\n132"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 133, "chroma:document": "EXHIBIT 4.6\nDESCRIPTION OF CAPITAL STOCK\nThe following description of capital stock of Meta Platforms, Inc. (the \u201ccompany,\u201d \u201cwe,\u201d \u201cus\u201d and \u201cour\u201d) summarizes certain provisions of our amended\nand restated certificate of incorporation and our amended and restated bylaws. The description is intended as a summary, and is qualified in its entirety by\nreference to our amended and restated certificate of incorporation and our amended and restated bylaws, copies of which have been filed as exhibits to this\nAnnual Report on Form 10-K.\nOur authorized capital stock consists of 9,241,000,000 shares, consisting of: (i) 5,000,000,000 shares of Class A common stock, $0.000006 par value per\nshare; (ii) 4,141,000,000 shares of Class B common stock, $0.000006 par value per share; and (iii) 100,000,000 shares of preferred stock, $0.000006 par value\nper share.\nCommon Stock\nDividend Rights\nSubject to preferences that may apply to shares of preferred stock outstanding at the time, the holders of outstanding shares of our common stock are\nentitled to receive dividends out of funds legally available if our board of directors, in its discretion, determines to issue dividends and only then at the times\nand in the amounts that our board of directors may determine.\nVoting Rights\nThe holders of our Class B common stock are entitled to ten votes per share, and holders of our Class A common stock are entitled to one vote per share.\nThe holders of our Class A common stock and Class B common stock vote together as a single class, unless otherwise required by law. Delaware law could\nrequire either holders of our Class A common stock or our Class B common stock to vote separately as a single class in the following circumstances:\n\u2022if we were to seek to amend our amended and restated certificate of incorporation to increase the authorized number of shares of a class of stock, or to\nincrease or decrease the par value of a class of stock, then that class would be required to vote separately to approve the proposed amendment; and\n\u2022if we were to seek to amend our amended and restated certificate of incorporation in a manner that alters or changes the powers, preferences or special"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 133, "chroma:document": "rights of a class of stock in a manner that affected its holders adversely, then that class would be required to vote separately to approve the proposed\namendment.\nStockholders do not have the ability to cumulate votes for the election of directors. Our amended and restated certificate of incorporation and amended and\nrestated bylaws provide for a classified board of directors consisting of three classes of approximately equal size, each serving staggered three-year terms,\nwhen the outstanding shares of our Class B common stock represent less than a majority of the combined voting power of common stock. Our directors will be\nassigned by the then-current board of directors to a class when the outstanding shares of our Class B common stock represent less than a majority of the\ncombined voting power of common stock.\nNo Preemptive or Similar Rights\nOur common stock is not entitled to preemptive rights and is not subject to conversion, redemption or sinking fund provisions.\n1"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 134, "chroma:document": "Right to Receive Liquidation Distributions\nUpon our dissolution, liquidation or winding-up, the assets legally available for distribution to our stockholders are distributable ratably among the holders\nof our common stock, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights and payment of liquidation preferences, if\nany, on any outstanding shares of preferred stock.\nConversion\nThe outstanding shares of Class B common stock are convertible at any time as follows: (1) at the option of the holder, a share of Class B common stock\nmay be converted at any time into one share of Class A common stock or (2) upon the election of the holders of a majority of the then outstanding shares of\nClass B common stock, all outstanding shares of Class B common stock may be converted into shares of Class A common stock. In addition, each share of\nClass B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain\ntransfers described in our amended and restated certificate of incorporation, including transfers to family members, trusts solely for the benefit of the\nstockholder or their family members, and partnerships, corporations, and other entities exclusively owned by the stockholder or their family members. Once\nconverted or transferred and converted into Class A common stock, the Class B common stock will not be reissued.\nPreferred Stock\nSubject to limitations prescribed by Delaware law, our board of directors is authorized to issue preferred stock in one or more series, to establish from time\nto time the number of shares to be included in each series and to fix the designation, powers, preferences and rights of the shares of each series and any of its\nqualifications, limitations or restrictions. Our board of directors also can increase or decrease the number of shares of any series, but not below the number of\nshares of that series then outstanding, without any further vote or action by our stockholders. Our board of directors may authorize the issuance of preferred\nstock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of the common stock. The issuance of\npreferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of\ndelaying, deferring or preventing a change in control of our company.\nAnti-Takeover Provisions"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 134, "chroma:document": "Anti-Takeover Provisions\nSo long as the outstanding shares of our Class B common stock represent a majority of the combined voting power of common stock, Mark Zuckerberg\nwill effectively control all matters submitted to our stockholders for a vote, as well as the overall management and direction of our company, which will have\nthe effect of delaying, deferring or discouraging another person from acquiring control of our company.\nAfter such time as the shares of our Class B common stock no longer represent a majority of the combined voting power of our common stock, the\nprovisions of Delaware law, our amended and restated certificate of incorporation and our amended and restated bylaws may have the effect of delaying,\ndeferring or discouraging another person from acquiring control of our company.\nDelaware Law\nA Delaware corporation may \u201copt out\u201d of these provisions with an express provision in its original certificate of incorporation or an express provision in its\ncertificate of incorporation or bylaws resulting from a stockholders\u2019 amendment approved by at least a majority of the outstanding voting shares. We have\nexpressly elected not to be governed by the business combination provisions of Section 203 of the Delaware General Corporation Law.\n2"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 135, "chroma:document": "Amended and Restated Certificate of Incorporation and Bylaw Provisions\nOur amended and restated certificate of incorporation and our amended and restated bylaws include a number of provisions that may have the effect of\ndeterring hostile takeovers or delaying or preventing changes in control of our company, even after such time as the shares of our Class B common stock no\nlonger represent a majority of the combined voting power of our common stock, including the following:\n\u2022Separate Class B Vote for Certain Transactions. Any transaction that would result in a change in control of our company requires the approval of a\nmajority of our outstanding Class B common stock voting as a separate class until such time as shares of our Class B common stock represent less than\nthirty-five percent (35%) of the combined voting power of our common stock. This provision could delay or prevent the approval of a change in control\nthat might otherwise be approved by a majority of outstanding shares of our Class A and Class B common stock voting together on a combined basis.\n\u2022Dual Class Stock. Our amended and restated certificate of incorporation provides for a dual class common stock structure, which provides Mark\nZuckerberg, our founder, Chairman, and CEO, with the ability to control the outcome of matters requiring stockholder approval, even if he owns\nsignificantly less than a majority of the shares of our outstanding Class A and Class B common stock, including the election of directors and significant\ncorporate transactions, such as a merger or other sale of our company or its assets.\n\u2022Supermajority Approvals. Our amended and restated certificate of incorporation and amended and restated bylaws do not provide that certain\namendments to our amended and restated certificate of incorporation or amended and restated bylaws by stockholders will require the approval of two-\nthirds of the combined vote of our then-outstanding shares of Class A and Class B common stock. However, when the outstanding shares of our Class B\ncommon stock represent less than a majority of the combined voting power of common stock, certain amendments to our amended and restated certificate\nof incorporation or amended and restated bylaws by stockholders will require the approval of two-thirds of the combined vote of our then-outstanding\nshares of Class A and Class B common stock. This will have the effect of making it more difficult to amend our amended and restated certificate of\nincorporation or amended and restated bylaws to remove or modify certain provisions."}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 135, "chroma:document": "\u2022Board of Directors Vacancies. Our amended and restated certificate of incorporation and amended and restated bylaws provide that stockholders may\nfill vacant directorships. When the outstanding shares of our Class B common stock represent less than a majority of the combined voting power of\ncommon stock, our amended and restated certificate of incorporation and amended and restated bylaws authorize only our board of directors to fill vacant\ndirectorships. In addition, the number of directors constituting our board of directors is set only by resolution adopted by a majority vote of our entire\nboard of directors. These provisions restricting the filling of vacancies will prevent a stockholder from increasing the size of our board of directors and\ngaining control of our board of directors by filling the resulting vacancies with its own nominees.\n\u2022Classified Board. Our board of directors is not classified. Our amended and restated certificate of incorporation and amended and restated bylaws\nprovide that when the outstanding shares of our Class B common stock represent less than a majority of the combined voting power of common stock, our\nboard of directors will be classified into three classes of directors each of which will hold office for a three-year term. In addition, thereafter, directors may\nonly be removed from the board of directors for cause. The existence of a classified board could delay a successful tender offeror from obtaining majority\ncontrol of our board of directors, and the prospect of that delay might deter a potential offeror.\n\u2022Stockholder Action; Special Meeting of Stockholders. Our amended and restated certificate of incorporation provides that stockholders will be able to\ntake action by written consent. When the outstanding shares of our Class B common stock represent less than a majority of the combined voting power of\ncommon stock, our stockholders will no longer be able to take action by written consent, and will only be able to take action at annual or special meetings\nof our stockholders. Stockholders will not be permitted to cumulate their votes for the election of directors. Our amended and restated bylaws further\nprovide that special meetings of our\n3"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/Meta-10-k-2023.pdf", "page": 136, "chroma:document": "stockholders may be called only by a majority of our board of directors, the chairman of our board of directors, our chief executive officer or our president.\n\u2022Advance Notice Requirements for Stockholder Proposals and Director Nominations. Our amended and restated bylaws provide advance notice\nprocedures for stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at any\nmeeting of stockholders. Our amended and restated bylaws also specify certain requirements regarding the form and content of a stockholder\u2019s notice.\nThese provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for\ndirectors at our meetings of stockholders.\n\u2022Issuance of Undesignated Preferred Stock. Our board of directors has the authority, without further action by the stockholders, to issue up to\n100,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by the board of\ndirectors. The existence of authorized but unissued shares of preferred stock enables our board of directors to render more difficult or to discourage an\nattempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise.\nChoice of Forum\nOur amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware is the exclusive forum for any\nderivative action or proceeding brought on our behalf; any action asserting a breach of fiduciary duty; any action asserting a claim against us arising pursuant\nto the Delaware General Corporation Law, our amended and restated certificate of incorporation or our amended and restated bylaws; or any action asserting a\nclaim against us that is governed by the internal affairs doctrine.\nListing\nOur Class A common stock is listed on the Nasdaq Global Select Market under the symbol \u201cMETA.\u201d\nTransfer Agent and Registrar\nThe transfer agent and registrar for our common stock is Computershare Trust Company, N.A.\n4"}


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{"source": "dataset/Meta-10-k-2023.pdf", "page": 137, "chroma:document": "EXHIBIT 21.1\nLIST OF SUBSIDIARIES\nMETA PLATFORMS, INC.\nCassin Networks ApS (Denmark)\nEdge Network Services Limited (Ireland)\nFacebook Circularity, LLC (Delaware)\nFacebook Holdings, LLC (Delaware)\nFacebook India Online Services Private Limited (India)\nFacebook Operations, LLC (Delaware)\nFacebook Procurement LLC (Delaware)\nFacebook Servi\u00e7os Online Do Brasil Ltda. (Brazil)\nFacebook UK Limited (United Kingdom)\nFCL Tech Limited (Ireland)\nGoldframe LLC (Delaware)\nGreater Kudu LLC (Delaware)\nHibiscus Properties, LLC (Delaware)\nInstagram, LLC (Delaware)\nMalkoha Pte. Ltd. (Singapore)\nMeta Payments Inc. (Florida)\nMeta Platforms Ireland Limited (Ireland)\nMeta Platforms Technologies, LLC (Delaware)\nMorning Hornet LLC (Delaware)\nPinnacle Sweden AB (Sweden)\nRaven Northbrook LLC (Delaware)\nRedale LLC (Delaware)\nRunways Information Services Limited (Ireland)\nScout Development, LLC (Delaware)\nSiculus, Inc. (Delaware)\nSidecat LLC (Delaware)\nStadion LLC (Delaware)\nStarbelt LLC (Delaware)\nVitesse, LLC (Delaware)\nWhatsApp LLC (Delaware)\nWinner LLC (Delaware)\nWoolhawk LLC (Delaware)"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1b50-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 138, "chroma:document": "EXHIBIT 23.1\nConsent of Independent Registered Public Accounting Firm\nWe consent to the incorporation by reference in the following Registration Statements:\n(1)Registration Statement (Form S-8 No. 333-270184) pertaining to the 2012 Equity Incentive Plan of Meta Platforms, Inc.,\n(2)Registration Statement (Form S-8 No. 333-262508) pertaining to the 2012 Equity Incentive Plan of Meta Platforms, Inc.,\n(3)Registration Statement (Form S-8 No. 333-252518) pertaining to the 2012 Equity Incentive Plan of Meta Platforms, Inc.,\n(4)Registration Statement (Form S-8 No. 333-236161) pertaining to the 2012 Equity Incentive Plan of Meta Platforms, Inc.,\n(5)Registration Statement (Form S-8 No. 333-229457) pertaining to the 2012 Equity Incentive Plan of Meta Platforms, Inc.,\n(6)Registration Statement (Form S-8 No. 333-222823) pertaining to the 2012 Equity Incentive Plan of Meta Platforms, Inc.,\n(7)Registration Statement (Form S-8 No. 333-186402) pertaining to the 2012 Equity Incentive Plan of Meta Platforms, Inc.,\n(8)Registration Statement (Form S-8 No. 333-181566) pertaining to the 2005 Officers\u2019 Stock Plan, 2005 Stock Plan, and 2012 Equity Incentive Plan of\nMeta Platforms, Inc., and\n(9)Registration Statement (Form S-3 No. 333-271535) of Meta Platforms, Inc.\nof our reports dated February 1, 2024, with respect to the consolidated financial statements of Meta Platforms, Inc. and the effectiveness of internal control\nover financial reporting of Meta Platforms, Inc. included in this Annual Report (Form 10-K) of Meta Platforms, Inc. for the year ended December 31, 2023.\n/s/ Ernst & Young LLP\nSan Mateo, California\nFebruary 1, 2024"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1baa-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 139, "chroma:document": "EXHIBIT 31.1\nCERTIFICATION OF PERIODIC REPORT UNDER SECTION 302 OF\nTHE SARBANES-OXLEY ACT OF 2002\nI, Mark Zuckerberg, certify that:\n1. I have reviewed this annual report on Form 10-K of Meta Platforms, Inc.;\n2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements\nmade, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;\n3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial\ncondition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;\n4. The registrant\u2019s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act\nRules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and\nhave:\na) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to\nensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities,\nparticularly during the period in which this report is being prepared;\nb) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our\nsupervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external\npurposes in accordance with generally accepted accounting principles;\nc) Evaluated the effectiveness of the registrant\u2019s disclosure controls and procedures and presented in this report our conclusions about the effectiveness\nof the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and\nd) Disclosed in this report any change in the registrant\u2019s internal control over financial reporting that occurred during the registrant\u2019s most recent fiscal\nquarter (the registrant\u2019s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the\nregistrant\u2019s internal control over financial reporting; and"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1bfa-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 139, "chroma:document": "registrant\u2019s internal control over financial reporting; and\n5. The registrant\u2019s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the\nregistrant\u2019s auditors and the audit committee of the registrant\u2019s board of directors (or persons performing the equivalent functions):\na) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably\nlikely to adversely affect the registrant\u2019s ability to record, process, summarize and report financial information; and\nb) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant\u2019s internal control\nover financial reporting.\nDate: February 1, 2024\n/s/ MARK ZUCKERBERG\nMark Zuckerberg\nBoard Chair and Chief Executive Officer\n(Principal Executive Officer)"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1c54-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 140, "chroma:document": "EXHIBIT 31.2\nCERTIFICATION OF PERIODIC REPORT UNDER SECTION 302 OF\nTHE SARBANES-OXLEY ACT OF 2002\nI, Susan Li, certify that:\n1. I have reviewed this annual report on Form 10-K of Meta Platforms, Inc.;\n2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements\nmade, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;\n3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial\ncondition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;\n4. The registrant\u2019s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act\nRules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and\nhave:\na) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to\nensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities,\nparticularly during the period in which this report is being prepared;\nb) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our\nsupervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external\npurposes in accordance with generally accepted accounting principles;\nc) Evaluated the effectiveness of the registrant\u2019s disclosure controls and procedures and presented in this report our conclusions about the effectiveness\nof the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and\nd) Disclosed in this report any change in the registrant\u2019s internal control over financial reporting that occurred during the registrant\u2019s most recent fiscal\nquarter (the registrant\u2019s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the\nregistrant\u2019s internal control over financial reporting; and"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1cae-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 140, "chroma:document": "registrant\u2019s internal control over financial reporting; and\n5. The registrant\u2019s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the\nregistrant\u2019s auditors and the audit committee of the registrant\u2019s board of directors (or persons performing the equivalent functions):\na) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably\nlikely to adversely affect the registrant\u2019s ability to record, process, summarize and report financial information; and\nb) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant\u2019s internal control\nover financial reporting.\nDate: February 1, 2024\n/s/ SUSAN LI\nSusan Li\nChief Financial Officer\n(Principal Financial Officer)"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1d08-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 141, "chroma:document": "EXHIBIT 32.1\nCERTIFICATION PURSUANT TO\n18 U.S.C. SECTION 1350\nAS ADOPTED PURSUANT TO SECTION 906\nOF THE SARBANES-OXLEY ACT OF 2002\nI, Mark Zuckerberg, Board Chair and Chief Executive Officer of Meta Platforms, Inc. (Company), do hereby certify, pursuant to 18 U.S.C. Section 1350, as\nadopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:\n\u2022the Annual Report on Form 10-K of the Company for the year ended December 31, 2023 (Report) fully complies with the requirements of\nSection 13(a) or 15(d) of the Securities Exchange Act of 1934; and\n\u2022the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company for the\nperiods presented therein.\nDate: February 1, 2024\n/s/ MARK ZUCKERBERG\nMark Zuckerberg\nBoard Chair and Chief Executive Officer\n(Principal Executive Officer)"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1d8a-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 142, "chroma:document": "EXHIBIT 32.2\nCERTIFICATION PURSUANT TO\n18 U.S.C. SECTION 1350\nAS ADOPTED PURSUANT TO SECTION 906\nOF THE SARBANES-OXLEY ACT OF 2002\nI, Susan Li, Chief Financial Officer of Meta Platforms, Inc. (Company), do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to\nSection 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:\n\u2022the Annual Report on Form 10-K of the Company for the year ended December 31, 2023 (Report) fully complies with the requirements of\nSection 13(a) or 15(d) of the Securities Exchange Act of 1934; and\n\u2022the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company for the\nperiods presented therein.\nDate: February 1, 2024\n/s/ SUSAN LI\nSusan Li\nChief Financial Officer\n(Principal Financial Officer)"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1de4-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 143, "chroma:document": "EXHIBIT 97.1\nMETA PLATFORMS, INC.\nCOMPENSATION RECOUPMENT POLICY\nThis Meta Platforms, Inc. Compensation Recoupment Policy (the \u201cPolicy\u201d) has been adopted by the Compensation, Nominating & Governance\nCommittee of the Board of Directors (the \u201cBoard\u201d) of Meta Platforms, Inc. (the \u201cCompany\u201d) on June 1, 2023. This Policy provides for the recoupment of\ncertain executive compensation in the event of an accounting restatement resulting from material noncompliance with financial reporting requirements under\nU.S. federal securities laws in accordance with the terms and conditions set forth herein. This Policy is intended to comply with the requirements of Section\n10D of the Exchange Act (as defined below) and Section 5608 of the Nasdaq Listing Rules.\n1.Definitions. For the purposes of this Policy, the following terms shall have the meanings set forth below.\n(a) \u201cCommittee\u201d means the Compensation, Nominating & Governance Committee of the Board or any successor committee thereof. If there is no\nCompensation, Nominating & Governance Committee of the Board, references herein to the \u201cCommittee\u201d shall refer to the Company\u2019s committee of\nindependent directors that is responsible for executive compensation decisions, or in the absence of such a compensation committee, the independent members\nof the Board.\n(b) \u201cCovered Compensation\u201d means any Incentive-based Compensation \u201creceived\u201d by a Covered Executive during the applicable Recoupment\nPeriod; provided that:\n(i) such Covered Compensation was received by such Covered Executive (A) after the Effective Date, (B) after he or she commenced service as\nan Executive Officer and (C) while the Company had a class of securities publicly listed on a United States national securities exchange; and\n(ii) such Covered Executive served as an Executive Officer at any time during the performance period applicable to such Incentive-based\nCompensation.\nFor purposes of this Policy, Incentive-based Compensation is \u201creceived\u201d by a Covered Executive during the fiscal period in which the Financial Reporting\nMeasure applicable to such Incentive-based Compensation (or portion thereof) is attained, even if the payment or grant of such Incentive-based Compensation\nis made thereafter.\n(c) \u201cCovered Executive\u201d means any current or former Executive Officer."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1e34-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 143, "chroma:document": "(c) \u201cCovered Executive\u201d means any current or former Executive Officer.\n(d) \u201cEffective Date\u201d means the date on which Section 5608 of the Nasdaq Listing Rules becomes effective.\n(e) \u201cExchange Act\u201d means the U.S. Securities Exchange Act of 1934, as amended.\n(f) \u201cExecutive Officer\u201d means, with respect to the Company, (i) its president, (ii) its principal financial officer, (iii) its principal accounting officer (or\nif there is no such accounting officer, its controller), (iv) any vice-president in charge of a principal business unit, division or function (such as sales,\nadministration or finance), (v) any other officer who performs a policy-making function for the Company (including any officer of the Company\u2019s parent(s) or\nsubsidiaries if they perform policy-making functions for the Company) and (vi) any other person who performs similar policy-making functions for the\nCompany. Policy-making function is not intended to include policy-making functions that are not significant. The determination as to an individual\u2019s status as\nan Executive Officer shall be made by the Committee and such determination shall be final, conclusive and binding on such individual and all other interested\npersons.\n(g) \u201cFinancial Reporting Measure\u201d means any (i) measure that is determined and presented in accordance with the accounting principles used in\npreparing the Company\u2019s financial statements, (ii) stock price measure or (iii) total shareholder return measure (and any measures that are derived wholly or in\npart from any measure referenced in clause (i), (ii) or (iii) above). For the avoidance of doubt, any such measure does not need to be presented within the\nCompany\u2019s financial statements or included in a filing with the U.S. Securities and Exchange Commission to constitute a Financial Reporting Measure."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1e8e-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 144, "chroma:document": "(h) \u201cFinancial Restatement\u201d means a restatement of the Company\u2019s financial statements due to the Company\u2019s material noncompliance with any\nfinancial reporting requirement under U.S. federal securities laws that is required in order to correct:\n(i) an error in previously issued financial statements that is material to the previously issued financial statements; or\n(ii) an error that would result in a material misstatement if (A) the error were corrected in the current period or (B) left uncorrected in the current\nperiod.\nFor purposes of this Policy, a Financial Restatement shall not be deemed to occur in the event of a revision of the Company\u2019s financial statements due to an\nout-of-period adjustment (i.e., when the error is immaterial to the previously issued financial statements and the correction of the error is also immaterial to the\ncurrent period) or a retrospective (1) application of a change in accounting principles; (2) revision to reportable segment information due to a change in the\nstructure of the Company\u2019s internal organization; (3) reclassification due to a discontinued operation; (4) application of a change in reporting entity, such as\nfrom a reorganization of entities under common control; or (5) revision for stock splits, reverse stock splits, stock dividends or other changes in capital\nstructure.\n(j) \u201cIncentive-based Compensation\u201d means any compensation (including, for the avoidance of doubt, any cash or equity or equity-based\ncompensation, whether deferred or current) that is granted, earned and/or vested based wholly or in part upon the achievement of a Financial Reporting\nMeasure. For purposes of this Policy, \u201cIncentive-based Compensation\u201d shall also be deemed to include any amounts which were determined based on (or were\notherwise calculated by reference to) Incentive-based Compensation (including, without limitation, any amounts under any long-term disability, life insurance\nor supplemental retirement or severance plan or agreement or any notional account that is based on Incentive-based Compensation, as well as any earnings\naccrued thereon).\n(k) \u201cNasdaq\u201d means the NASDAQ Global Select Market, or any successor thereof.\n(l) \u201cRecoupment Period\u201d means the three fiscal years completed immediately preceding the date of any applicable Recoupment Trigger Date.\nNotwithstanding the foregoing, the Recoupment Period additionally includes any transition period (that results from a change in the Company\u2019s fiscal year)"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1ee8-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 144, "chroma:document": "within or immediately following those three completed fiscal years, provided that a transition period between the last day of the Company\u2019s previous fiscal year\nend and the first day of its new fiscal year that comprises a period of nine (9) to twelve (12) months would be deemed a completed fiscal year.\n(m) \u201cRecoupment Trigger Date\u201d means the earlier of (i) the date that the Board (or a committee thereof or the officer(s) of the Company authorized\nto take such action if Board action is not required) concludes, or reasonably should have concluded, that the Company is required to prepare a Financial\nRestatement, and (ii) the date on which a court, regulator or other legally authorized body directs the Company to prepare a Financial Restatement.\n2.Recoupment of Erroneously Awarded Compensation.\n(a) In the event of a Financial Restatement, if the amount of any Covered Compensation received by a Covered Executive (the \u201cAwarded\nCompensation\u201d) exceeds the amount of such Covered Compensation that would have otherwise been received by such Covered Executive if calculated based\non the Financial Restatement (the \u201cAdjusted Compensation\u201d), the Company shall reasonably promptly recover from such Covered Executive an amount equal\nto the excess of the Awarded Compensation over the Adjusted Compensation, each calculated on a pre-tax basis (such excess amount, the \u201cErroneously\nAwarded Compensation\u201d).\n(b) If (i) the Financial Reporting Measure applicable to the relevant Covered Compensation is stock price or total shareholder return (or any measure\nderived wholly or in part from either of such measures) and (ii) the amount of Erroneously Awarded Compensation is not subject to mathematical recalculation\ndirectly from the information in the Financial Restatement, then the amount of Erroneously Awarded Compensation shall be determined (on a pre-tax basis)\nbased on the Company\u2019s reasonable estimate of the effect of the Financial Restatement on the Company\u2019s stock price or total shareholder return (or the\nderivative measure thereof) upon which such Covered Compensation was received."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1f38-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 145, "chroma:document": "(c) For the avoidance of doubt, the Company\u2019s obligation to recover Erroneously Awarded Compensation is not dependent on (i) if or when the\nrestated financial statements are filed or (ii) any fault of any Covered Executive for the accounting errors or other actions leading to a Financial Restatement.\n(d) Notwithstanding anything to the contrary in Sections 2(a) through (c) hereof, the Company shall not be required to recover any Erroneously\nAwarded Compensation if both (x) the conditions set forth in either of the following clauses (i) or (ii) are satisfied and (y) the Committee (or a majority of the\nindependent directors serving on the Board) has determined that recovery of the Erroneously Awarded Compensation would be impracticable:\n(i) the direct expense paid to a third party to assist in enforcing the recovery of the Erroneously Awarded Compensation under this Policy\nwould exceed the amount of such Erroneously Awarded Compensation to be recovered; provided that, before concluding that it would be\nimpracticable to recover any amount of Erroneously Awarded Compensation pursuant to this Section 2(d), the Company shall have first made a\nreasonable attempt to recover such Erroneously Awarded Compensation, document such reasonable attempt(s) to make such recovery and provide\nthat documentation to the Nasdaq;\n(ii) recovery of the Erroneously Awarded Compensation would likely cause an otherwise tax-qualified retirement plan, under which\nbenefits are broadly available to employees of the Company, to fail to meet the requirements of Sections 401(a)(13) or 411(a) of the U.S. Internal\nRevenue Code of 1986, as amended (the \u201cCode\u201d).\n(e) The Company shall not indemnify any Covered Executive, directly or indirectly, for any losses that such Covered Executive may incur in\nconnection with the recovery of Erroneously Awarded Compensation pursuant to this Policy, including through the payment of insurance premiums or gross-up\npayments.\n(f) The Committee shall determine, in its sole discretion, the manner and timing in which any Erroneously Awarded Compensation shall be recovered\nfrom a Covered Executive in accordance with applicable law, including, without limitation, by (i) requiring reimbursement of Covered Compensation\npreviously paid in cash; (ii) seeking recovery of any gain realized on the vesting, exercise, settlement, sale, transfer or other disposition of any equity or equity-"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1f92-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 145, "chroma:document": "based awards; (iii) offsetting the Erroneously Awarded Compensation amount from any compensation otherwise owed by the Company or any of its affiliates\nto the Covered Executive; (iv) cancelling outstanding vested or unvested equity or equity-based awards; and/or (v) taking any other remedial and recovery\naction permitted by applicable law. For the avoidance of doubt, except as set forth in Section 2(d), in no event may the Company accept an amount that is less\nthan the amount of Erroneously Awarded Compensation; provided that, to the extent necessary to avoid any adverse tax consequences to the Covered Executive\npursuant to Section 409A of the Code, any offsets against amounts under any nonqualified deferred compensation plans (as defined under Section 409A of the\nCode) shall be made in compliance with Section 409A of the Code.\n3.Administration. This Policy shall be administered by the Committee. All decisions of the Committee shall be final, conclusive and binding upon the\nCompany and the Covered Executives, their beneficiaries, executors, administrators and any other legal representative. The Committee shall have full power\nand authority to (i) administer and interpret this Policy; (ii) correct any defect, supply any omission and reconcile any inconsistency in this Policy; and (iii)\nmake any other determination and take any other action that the Committee deems necessary or desirable for the administration of this Policy and to comply\nwith applicable law (including Section 10D of the Exchange Act) and applicable stock market or exchange rules and regulations. Notwithstanding anything to\nthe contrary contained herein, to the extent permitted by Section 10D of the Exchange Act and Section 5608 of the Nasdaq Listing Rules, the Board may, in its\nsole discretion, at any time and from time to time, administer this Policy in the same manner as the Committee.\n4.Amendment/Termination. Subject to Section 10D of the Exchange Act and Section 5608 of the Nasdaq Listing Rules, this Policy may be amended or\nterminated by the Committee at any time. To the extent that any applicable law, or stock market or exchange rules or regulations require recovery of\nErroneously Awarded Compensation in circumstances in addition to those specified herein, nothing in this Policy shall be deemed to limit or restrict the right or\nobligation of the Company to recover Erroneously Awarded Compensation to the fullest extent required by such applicable law, stock market or exchange rules"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b1fe2-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 145, "chroma:document": "and regulations. Unless otherwise required"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2046-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 146, "chroma:document": "by applicable law, this Policy shall no longer be effective from and after the date that the Company no longer has a class of securities publicly listed on a\nUnited States national securities exchange.\n5.Interpretation. Notwithstanding anything to the contrary herein, this Policy is intended to comply with the requirements of Section 10D of the\nExchange Act and Section 5608 of the Nasdaq Listing Rules (and any applicable regulations, administrative interpretations or stock market or exchange rules\nand regulations adopted in connection therewith). The provisions of this Policy shall be interpreted in a manner that satisfies such requirements and this Policy\nshall be operated accordingly. If any provision of this Policy would otherwise frustrate or conflict with this intent, the provision shall be interpreted and deemed\namended so as to avoid such conflict.\n6.Other Compensation Clawback/Recoupment Rights. Any right of recoupment under this Policy is in addition to, and not in lieu of, any other remedies,\nrights or requirements with respect to the clawback or recoupment of any compensation that may be available to the Company pursuant to the terms of any\nother recoupment or clawback policy of the Company (or any of its affiliates) that may be in effect from time to time, any provisions in any employment\nagreement, offer letter, equity plan, equity award agreement or similar plan or agreement, and any other legal remedies available to the Company, as well as\napplicable law, stock market or exchange rules, listing standards or regulations; provided, however, that any amounts recouped or clawed back under any other\npolicy that would be recoupable under this Policy shall count toward any required clawback or recoupment under this Policy and vice versa.\n7.Exempt Compensation. Notwithstanding anything to the contrary herein, the Company has no obligation to seek recoupment of amounts paid to a\nCovered Executive which are granted, vested or earned based solely upon the occurrence or non-occurrence of nonfinancial events. Such exempt compensation\nincludes, without limitation, base salary, time-vesting awards, compensation awarded on the basis of the achievement of metrics that are not Financial\nReporting Measures or compensation awarded solely at the discretion of the Committee or the Board, provided that such amounts are in no way contingent on,\nand were not in any way granted on the basis of, the achievement of any Financial Reporting Measure.\n8.Miscellaneous."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b20a0-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/Meta-10-k-2023.pdf", "page": 146, "chroma:document": "8.Miscellaneous.\n(a) Any applicable award agreement or other document setting forth the terms and conditions of any compensation covered by this Policy shall be\ndeemed to include the restrictions imposed herein and incorporate this Policy by reference and, in the event of any inconsistency, the terms of this Policy will\ngovern. For the avoidance of doubt, this Policy applies to all compensation that is received on or after the Effective Date, regardless of the date on which the\naward agreement or other document setting forth the terms and conditions of the Covered Executive\u2019s compensation became effective or was first granted or\nawarded, including, without limitation, compensation received under the Meta Platforms, Inc. 2012 Equity Incentive Plan (as amended) and any successor plan\nthereto.\n(b) This Policy shall be binding and enforceable against all Covered Executives and their beneficiaries, heirs, executors, administrators or other legal\nrepresentatives.\n(c) If any provision of this Policy is determined to be unenforceable or invalid under any applicable law, such provision will be applied to the\nmaximum extent permitted by applicable law and shall automatically be deemed amended in a manner consistent with its objectives to the extent necessary to\nconform to any limitations required under applicable law."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b20f0-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/aws-10-k-2023.pdf", "page": 0, "chroma:document": "Table of Contents\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n ____________________________________\nFORM 10-K\n____________________________________ \n(Mark One)\n\u2612 ANNUAL  REPOR T PURSUANT  TO SECTION 13 OR 15(d) OF  THE SECURITIES EXCHANGE ACT  OF 1934\nFor the fiscal year ended December 31, 2022\nor\n\u2610 TRANSITION REPOR T PURSUANT  TO SECTION 13 OR 15(d) OF  THE SECURITIES EXCHANGE ACT  OF 1934\nFor the transition period from            to             .\nCommission File No. 000-22513\n____________________________________\nAMAZON .COM, INC.\n(Exact name of registrant as specified in its charter)\nDelaware  91-1646860\n(State or other jurisdiction of\nincorporation or organization)  (I.R.S. Employer\nIdentification No.)\n410 Terry Avenue North\nSeattle, Washington 98109-5210\n(206) 266-1000\n(Addr ess and telephone number , including ar ea code, of r egistrant\u2019 s principal executive offices)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered\nCommon Stock, par value $.01 per share AMZN Nasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n ____________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  \u2612    No  \u2610\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.    Yes  \u2610    No  \u2612\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  \u2612    No  \u2610"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b214a-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 0, "chroma:document": "Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12\nmonths (or for such shorter period that the registrant was required to submit such files).    Yes  \u2612    No  \u2610\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the\ndefinitions of \u201clarge accelerated filer,\u201d \u201caccelerated filer,\u201d \u201csmaller reporting company,\u201d and \u201cemerging growth company\u201d in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer \u2612 Accelerated filer \u2610\nNon-accelerated filer \u2610 Smaller reporting company \u2610\nEmerging growth company \u2610\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. \u2610\nIndicate by check mark whether the registrant has filed a report on and attestation to its management\u2019s assessment of the effectiveness of its internal control over financial reporting under Section\n404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. \u2612\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  \u2610    No  \u2612\nAggregate market value of voting stock held by non-affiliates of the registrant as of June 30, 2022 $ 944,744,113,598 \nNumber of shares of common stock outstanding as of January 25, 2023 10,247,259,757 \n____________________________________ \nDOCUMENTS INCORPORATED BY REFERENCE\nThe information required by Part III of this Report, to the extent not set forth herein, is incorporated herein by reference from the registrant\u2019s definitive proxy statement relating to the Annual\nMeeting of Shareholders to be held in 2023, which definitive proxy statement shall be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this\nReport relates."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b21a4-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 1, "chroma:document": "Table of Contents\nAMAZON.COM, INC.\nFORM 10-K\nFor the Fiscal Year Ended December 31, 2022\nINDEX\n \n  Page\nPART I\nItem 1. Business 3\nItem 1A. Risk Factors 6\nItem 1B. Unresolved Staff Comments 16\nItem 2. Properties 17\nItem 3. Legal Proceedings 17\nItem 4. Mine Safety Disclosures 17\nPART II\nItem 5. Market for the Registrant\u2019s Common Stock, Related Shareholder Matters, and Issuer Purchases of Equity Securities 18\nItem 6. Reserved 18\nItem 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations 19\nItem 7A. Quantitative and Qualitative Disclosures About Market Risk 31\nItem 8. Financial Statements and Supplementary Data 33\nItem 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 69\nItem 9A. Controls and Procedures 69\nItem 9B. Other Information 71\nItem 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 71\nPART III\nItem 10. Directors, Executive Officers, and Corporate Governance 71\nItem 11. Executive Compensation 71\nItem 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 71\nItem 13. Certain Relationships and Related Transactions, and Director Independence 71\nItem 14. Principal Accountant Fees and Services 71\nPART IV\nItem 15. Exhibits, Financial Statement Schedules 72\nItem 16. Form 10-K Summary 74\nSignatures 75\n2"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b21f4-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/aws-10-k-2023.pdf", "page": 2, "chroma:document": "Table of Contents\nAMAZON.COM, INC.\nPART I\nItem 1. Business\nThis Annual Report on Form 10-K and the documents incorporated herein by reference contain forward-looking statements based on expectations,\nestimates, and projections as of the date of this filing. Actual results and outcomes may differ materially from those expressed in forward-looking statements.\nSee Item 1A of Part I \u2014 \u201cRisk Factors.\u201d As used herein, \u201cAmazon.com,\u201d \u201cwe,\u201d \u201cour,\u201d and similar terms include Amazon.com, Inc. and its subsidiaries, unless\nthe context indicates otherwise.\nGeneral\nWe seek to be Earth\u2019s most customer-centric company. We are guided by four principles: customer obsession rather than competitor focus, passion for\ninvention, commitment to operational excellence, and long-term thinking. In each of our segments, we serve our primary customer sets, consisting of\nconsumers, sellers, developers, enterprises, content creators, advertisers, and employees.\nWe have organized our operations into three segments: North America, International, and Amazon Web Services (\u201cAWS\u201d). These segments reflect the\nway the Company evaluates its business performance and manages its operations. Information on our net sales is contained in Item 8 of Part II, \u201cFinancial\nStatements and Supplementary Data \u2014 Note 10 \u2014 Segment Information.\u201d\nConsumers\nWe serve consumers through our online and physical stores and focus on selection, price, and convenience. We design our stores to enable hundreds of\nmillions of unique products to be sold by us and by third parties across dozens of product categories. Customers access our offerings through our websites,\nmobile apps, Alexa, devices, streaming, and physically visiting our stores. We also manufacture and sell electronic devices, including Kindle, Fire tablet, Fire\nTV, Echo, Ring, Blink, and eero, and we develop and produce media content. We seek to offer our customers low prices, fast and free delivery, easy-to-use\nfunctionality, and timely customer service. In addition, we offer subscription services such as Amazon Prime, a membership program that includes fast, free\nshipping on millions of items, access to award-winning movies and series, and other benefits.\nWe fulfill customer orders in a number of ways, including through: North America and International fulfillment networks that we operate; co-sourced and\noutsourced arrangements in certain countries; digital delivery; and through our physical stores. We operate customer service centers globally, which are"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b224e-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 2, "chroma:document": "supplemented by co-sourced arrangements. See Item 2 of Part I, \u201cProperties.\u201d\nSellers\nWe offer programs that enable sellers to grow their businesses, sell their products in our stores, and fulfill orders through us. We are not the seller of\nrecord in these transactions. We earn fixed fees, a percentage of sales, per-unit activity fees, interest, or some combination thereof, for our seller programs.\nDevelopers and Enterprises\nWe serve developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a broad\nset of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.\nContent Creators\nWe offer programs that allow authors, independent publishers, musicians, filmmakers, Twitch streamers, skill and app developers, and others to publish\nand sell content.\nAdvertisers\nWe provide advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads, display, and video\nadvertising.\n3"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b22a8-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/aws-10-k-2023.pdf", "page": 3, "chroma:document": "Table of Contents\nCompetition\nOur businesses encompass a large variety of product types, service offerings, and delivery channels. The worldwide marketplace in which we compete is\nevolving rapidly and intensely competitive, and we face a broad array of competitors from many different industry sectors around the world. Our current and\npotential competitors include: (1) physical, e-commerce, and omnichannel retailers, publishers, vendors, distributors, manufacturers, and producers of the\nproducts we offer and sell to consumers and businesses; (2) publishers, producers, and distributors of physical, digital, and interactive media of all types and all\ndistribution channels; (3) web search engines, comparison shopping websites, social networks, web portals, and other online and app-based means of\ndiscovering, using, or acquiring goods and services, either directly or in collaboration with other retailers; (4) companies that provide e-commerce services,\nincluding website development and hosting, omnichannel sales, inventory and supply chain management, advertising, fulfillment, customer service, and\npayment processing; (5) companies that provide fulfillment and logistics services for themselves or for third parties, whether online or offline; (6) companies\nthat provide information technology services or products, including on-premises or cloud-based infrastructure and other services; (7) companies that design,\nmanufacture, market, or sell consumer electronics, telecommunication, and electronic devices; (8) companies that sell grocery products online and in physical\nstores; and (9) companies that provide advertising services, whether in digital or other formats. We believe that the principal competitive factors in our retail\nbusinesses include selection, price, and convenience, including fast and reliable fulfillment. Additional competitive factors for our seller and enterprise services\ninclude the quality, speed, and reliability of our services and tools, as well as customers\u2019 ability and willingness to change business practices. Some of our\ncurrent and potential competitors have greater resources, longer histories, more customers, greater brand recognition, and greater control over inputs critical to\nour various businesses. They may secure better terms from suppliers, adopt more aggressive pricing, pursue restrictive distribution agreements that restrict our\naccess to supply, direct consumers to their own offerings instead of ours, lock-in potential customers with restrictive terms, and devote more resources to\ntechnology, infrastructure, fulfillment, and marketing. The Internet facilitates competitive entry and comparison shopping, which enhances the ability of new,"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2302-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 3, "chroma:document": "smaller, or lesser-known businesses to compete against us. Each of our businesses is also subject to rapid change and the development of new business models\nand the entry of new and well-funded competitors. Other companies also may enter into business combinations or alliances that strengthen their competitive\npositions.\nIntellectual Property\nWe regard our trademarks, service marks, copyrights, patents, domain names, trade dress, trade secrets, proprietary technologies, and similar intellectual\nproperty as critical to our success, and we rely on trademark, copyright, and patent law, trade-secret protection, and confidentiality and/or license agreements\nwith our employees, customers, partners, and others to protect our proprietary rights. We have registered, or applied for the registration of, a number of U.S.\nand international domain names, trademarks, service marks, and copyrights. Additionally, we have filed U.S. and international patent applications covering\ncertain of our proprietary technology.\nSeasonality\nOur business is affected by seasonality, which historically has resulted in higher sales volume during our fourth quarter, which ends December 31.\nHuman Capital\nOur employees are critical to our mission of being Earth\u2019s most customer-centric company. As of December 31, 2022, we employed approximately\n1,541,000 full-time and part-time employees. Additionally, we use independent contractors and temporary personnel to supplement our workforce. Competition\nfor qualified personnel is intense, particularly for software engineers, computer scientists, and other technical staff, and constrained labor markets have\nincreased competition for personnel across other parts of our business.\nAs we strive to be Earth\u2019s best employer, we focus on investment and innovation, inclusion and diversity, safety, and engagement to hire and develop the\nbest talent. We rely on numerous and evolving initiatives to implement these objectives and invent mechanisms for talent development, including competitive\npay and benefits, flexible work arrangements, and skills training and educational programs such as Amazon Career Choice (funded education for hourly\nemployees) and the Amazon Technical Academy (software development engineer training). Over 100,000 Amazon employees around the world have\nparticipated in Career Choice. We also continue to inspect and refine the mechanisms we use to hire, develop, evaluate, and retain our employees to promote\nequity for all candidates and employees. In addition, safety is integral to everything we do at Amazon and we continue to invest in safety improvements such as"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b235c-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 3, "chroma:document": "capital improvements, new safety technology, vehicle safety controls, and engineering ergonomic solutions. Our safety team is dedicated to using the science of\nsafety to solve complex problems and establish new industry best practices. We also provide mentorship and support resources to our employees, and have\ndeployed numerous programs that advance employee engagement, communication, and feedback.\n4"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b23d4-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 4, "chroma:document": "Table of Contents\nAvailable Information\nOur investor relations website is amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make\navailable on this website, free of charge, the reports that we file or furnish with the Securities and Exchange Commission (\u201cSEC\u201d), corporate governance\ninformation (including our Code of Business Conduct and Ethics), and select press releases.\nExecutive Officers and Directors\nThe following tables set forth certain information regarding our Executive Officers and Directors as of January 25, 2023:\nInformation About Our Executive Officers\nName Age Position\nJeffrey P. Bezos 59 Executive Chair\nAndrew R. Jassy 55 President and Chief Executive Officer\nDouglas J. Herrington 56 CEO Worldwide Amazon Stores\nBrian T. Olsavsky 59 Senior Vice President and Chief Financial Officer\nShelley L. Reynolds 58 Vice President, Worldwide Controller, and Principal Accounting Officer\nAdam N. Selipsky 56 CEO Amazon Web Services\nDavid A. Zapolsky 59 Senior Vice President, General Counsel, and Secretary\nJeffrey P. Bezos. Mr. Bezos founded Amazon.com in 1994 and has served as Executive Chair since July 2021. He has served as Chair of the Board since\n1994 and served as Chief Executive Officer from May 1996 until July 2021, and as President from 1994 until June 1999 and again from October 2000 to July\n2021.\nAndrew R. Jassy. Mr. Jassy has served as President and Chief Executive Officer since July 2021, CEO Amazon Web Services from April 2016 until July\n2021, and Senior Vice President, Amazon Web Services, from April 2006 until April 2016.\nDouglas J. Herrington. Mr. Herrington has served as CEO Worldwide Amazon Stores since July 2022, Senior Vice President, North America Consumer\nfrom January 2015 to July 2022, and Senior Vice President, Consumables from May 2014 to December 2014.\nBrian T. Olsavsky. Mr. Olsavsky has served as Senior Vice President and Chief Financial Officer since June 2015, Vice President, Finance for the\nGlobal Consumer Business from December 2011 to June 2015, and numerous financial leadership roles across Amazon with global responsibility since April\n2002."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2460-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 4, "chroma:document": "2002.\nShelley L. Reynolds. Ms. Reynolds has served as Vice President, Worldwide Controller, and Principal Accounting Officer since April 2007.\nAdam N. Selipsky. Mr. Selipsky has served as CEO Amazon Web Services since July 2021, Senior Vice President, Amazon Web Services from May\n2021 until July 2021, President and CEO of Tableau Software from September 2016 until May 2021, and Vice President, Marketing, Sales and Support of\nAmazon Web Services from May 2005 to September 2016.\nDavid A. Zapolsky. Mr. Zapolsky has served as Senior Vice President, General Counsel, and Secretary since May 2014, Vice President, General\nCounsel, and Secretary from September 2012 to May 2014, and as Vice President and Associate General Counsel for Litigation and Regulatory matters from\nApril 2002 until September 2012.\n5"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b24ba-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 5, "chroma:document": "Table of Contents\nBoard of Directors\nName Age Position\nJeffrey P. Bezos 59 Executive Chair\nAndrew R. Jassy 55 President and Chief Executive Officer\nKeith B. Alexander 71 CEO, President, and Chair of IronNet, Inc.\nEdith W. Cooper 61 Former Executive Vice President, Goldman Sachs Group, Inc.\nJamie S. Gorelick 72 Partner, Wilmer Cutler Pickering Hale and Dorr LLP\nDaniel P. Huttenlocher 64 Dean, MIT Schwarzman College of Computing\nJudith A. McGrath 70 Former Chair and CEO, MTV Networks\nIndra K. Nooyi 67 Former Chief Executive Officer, PepsiCo, Inc.\nJonathan J. Rubinstein 66 Former co-CEO, Bridgewater Associates, LP\nPatricia Q. Stonesifer 66 Former President and Chief Executive Officer, Martha\u2019s Table\nWendell P. Weeks 63 Chief Executive Officer, Corning Incorporated\nItem 1A. Risk Factors\nPlease carefully consider the following discussion of significant factors, events, and uncertainties that make an investment in our securities risky. The\nevents and consequences discussed in these risk factors could, in circumstances we may or may not be able to accurately predict, recognize, or control, have a\nmaterial adverse effect on our business, growth, reputation, prospects, financial condition, operating results (including components of our financial results),\ncash flows, liquidity, and stock price. These risk factors do not identify all risks that we face; our operations could also be affected by factors, events, or\nuncertainties that are not presently known to us or that we currently do not consider to present significant risks to our operations. In addition to the factors\ndiscussed in Item 7 of Part II, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u2014Overview,\u201d and in the risk factors\nbelow, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of\nthe risks discussed below. Many of the risks discussed below also impact our customers, including third-party sellers, which could indirectly have a material\nadverse effect on us.\nBusiness and Industry Risks\nWe Face Intense Competition\nOur businesses are rapidly evolving and intensely competitive, and we have many competitors across geographies, including cross-border competition,"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b250a-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 5, "chroma:document": "and in different industries, including physical, e-commerce, and omnichannel retail, e-commerce services, web and infrastructure computing services,\nelectronic devices, digital content, advertising, grocery, and transportation and logistics services. Some of our current and potential competitors have greater\nresources, longer histories, more customers, and/or greater brand recognition, particularly with our newly-launched products and services and in our newer\ngeographic regions. They may secure better terms from vendors, adopt more aggressive pricing, and devote more resources to technology, infrastructure,\nfulfillment, and marketing.\nCompetition continues to intensify, including with the development of new business models and the entry of new and well-funded competitors, and as\nour competitors enter into business combinations or alliances and established companies in other market segments expand to become competitive with our\nbusiness. In addition, new and enhanced technologies, including search, web and infrastructure computing services, digital content, and electronic devices\ncontinue to increase our competition. The Internet facilitates competitive entry and comparison shopping, which enhances the ability of new, smaller, or lesser\nknown businesses to compete against us. As a result of competition, our product and service offerings may not be successful, we may fail to gain or may lose\nbusiness, and we may be required to increase our spending or lower prices, any of which could materially reduce our sales and profits.\nOur Expansion into New Products, Services, Technologies, and Geographic Regions Subjects Us to Additional Risks\nWe may have limited or no experience in our newer market segments, and our customers may not adopt our product or service offerings. These offerings,\nwhich can present new and difficult technology challenges, may subject us to claims if customers of these offerings experience, or are otherwise impacted by,\nservice disruptions, delays, setbacks, or failures or quality issues. In addition, profitability, if any, in our newer activities may not meet our expectations, and we\nmay not be successful enough in these newer activities to recoup our investments in them, which investments are often significant. Failure to realize the\nbenefits of amounts we invest in new technologies, products, or services could result in the value of those investments being written down or written off. In\naddition, our sustainability initiatives may be unsuccessful for a variety of\n6"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2564-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 6, "chroma:document": "Table of Contents\nreasons, including if we are unable to realize the expected benefits of new technologies or if we do not successfully plan or execute new strategies, which could\nharm our business or damage our reputation.\nOur International Operations Expose Us to a Number of Risks\nOur international activities are significant to our revenues and profits, and we plan to further expand internationally. In certain international market\nsegments, we have relatively little operating experience and may not benefit from any first-to-market advantages or otherwise succeed. It is costly to establish,\ndevelop, and maintain international operations and stores, and promote our brand internationally. Our international operations may not become profitable on a\nsustained basis.\nIn addition to risks described elsewhere in this section, our international sales and operations are subject to a number of risks, including:\n\u2022local economic and political conditions;\n\u2022government regulation (such as regulation of our product and service offerings and of competition); restrictive governmental actions (such as trade\nprotection measures, including export duties and quotas and custom duties and tariffs); nationalization; and restrictions on foreign ownership;\n\u2022restrictions on sales or distribution of certain products or services and uncertainty regarding liability for products, services, and content, including\nuncertainty as a result of less Internet-friendly legal systems, local laws, lack of legal precedent, and varying rules, regulations, and practices\nregarding the physical and digital distribution of media products and enforcement of intellectual property rights;\n\u2022business licensing or certification requirements, such as for imports, exports, web services, and electronic devices;\n\u2022limitations on the repatriation and investment of funds and foreign currency exchange restrictions;\n\u2022limited fulfillment and technology infrastructure;\n\u2022shorter payable and longer receivable cycles and the resultant negative impact on cash flow;\n\u2022laws and regulations regarding privacy, data use, data protection, data security, data localization, network security, consumer protection, payments,\nadvertising, and restrictions on pricing or discounts;\n\u2022lower levels of use of the Internet;\n\u2022lower levels of consumer spending and fewer opportunities for growth compared to the U.S.;\n\u2022lower levels of credit card usage and increased payment risk;\n\u2022difficulty in staffing, developing, and managing foreign operations as a result of distance, language, and cultural differences;\n\u2022different employee/employer relationships and the existence of works councils and labor unions;"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b25b4-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 6, "chroma:document": "\u2022compliance with the U.S. Foreign Corrupt Practices Act and other applicable U.S. and foreign laws prohibiting corrupt payments to government\nofficials and other third parties;\n\u2022laws and policies of the U.S. and other jurisdictions affecting trade, foreign investment, loans, and taxes; and\n\u2022geopolitical events, including war and terrorism.\nAs international physical, e-commerce, and omnichannel retail, cloud services, and other services grow, competition will intensify, including through\nadoption of evolving business models. Local companies may have a substantial competitive advantage because of their greater understanding of, and focus on,\nthe local customer, as well as their more established local brand names. The inability to hire, train, retain, and manage sufficient required personnel may limit\nour international growth.\nThe People\u2019s Republic of China (\u201cPRC\u201d) and India regulate Amazon\u2019s and its affiliates\u2019 businesses and operations in country through regulations and\nlicense requirements that may restrict (i) foreign investment in and operation of the Internet, IT infrastructure, data centers, retail, delivery, and other sectors,\n(ii) Internet content, and (iii) the sale of media and other products and services. For example, in order to meet local ownership, regulatory licensing, and\ncybersecurity requirements, we provide certain technology services in China through contractual relationships with third parties that hold PRC licenses to\nprovide services. In India, the government restricts the ownership or control of Indian companies by foreign entities involved in online multi-brand retail\ntrading activities. For www.amazon.in, we provide certain marketing tools and logistics services to third-party sellers to enable them to sell online and deliver\nto customers, and we hold indirect minority interests in entities that are third-party sellers on the www.amazon.in marketplace. Although we believe these\nstructures and activities comply with existing laws, they involve unique risks, and the PRC and India may from time to time consider and implement additional\nchanges in their regulatory, licensing, or other requirements that could impact these structures and activities. There are substantial uncertainties regarding the\ninterpretation of PRC and Indian laws and regulations, and it is possible that these governments will\n7"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2618-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 7, "chroma:document": "Table of Contents\nultimately take a view contrary to ours. In addition, our Chinese and Indian businesses and operations may be unable to continue to operate if we or our\naffiliates are unable to access sufficient funding or, in China, enforce contractual relationships we or our affiliates have in place. Violation of any existing or\nfuture PRC, Indian, or other laws or regulations or changes in the interpretations of those laws and regulations could result in our businesses in those countries\nbeing subject to fines and other financial penalties, having licenses revoked, or being forced to restructure our operations or shut down entirely.\nThe Variability in Our Retail Business Places Increased Strain on Our Operations\nDemand for our products and services can fluctuate significantly for many reasons, including as a result of seasonality, promotions, product launches, or\nunforeseeable events, such as in response to global economic conditions such as recessionary fears or rising inflation, natural or human-caused disasters\n(including public health crises) or extreme weather (including as a result of climate change), or geopolitical events. For example, we expect a disproportionate\namount of our retail sales to occur during our fourth quarter. Our failure to stock or restock popular products in sufficient amounts such that we fail to meet\ncustomer demand could significantly affect our revenue and our future growth. When we overstock products, we may be required to take significant inventory\nmarkdowns or write-offs and incur commitment costs, which could materially reduce profitability. We regularly experience increases in our net shipping cost\ndue to complimentary upgrades, split-shipments, and additional long-zone shipments necessary to ensure timely delivery for the holiday season. If too many\ncustomers access our websites within a short period of time due to increased demand, we may experience system interruptions that make our websites\nunavailable or prevent us from efficiently fulfilling orders, which may reduce the volume of goods we offer or sell and the attractiveness of our products and\nservices. In addition, we may be unable to adequately staff our fulfillment network and customer service centers during these peak periods and delivery and\nother fulfillment companies and customer service co-sourcers may be unable to meet the seasonal demand. Risks described elsewhere in this Item 1A relating\nto fulfillment network optimization and inventory are magnified during periods of high demand.\nAs a result of holiday sales, as of December 31 of each year, our cash, cash equivalents, and marketable securities balances typically reach their highest"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2668-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 7, "chroma:document": "level (other than as a result of cash flows provided by or used in investing and financing activities) because consumers primarily use credit cards in our stores\nand the related receivables settle quickly. Typically, there is also a corresponding increase in accounts payable as of December 31 due to inventory purchases\nand third-party seller sales. Our accounts payable balance generally declines during the first three months of the year as vendors and sellers are paid, resulting\nin a corresponding decline in our cash, cash equivalents, and marketable securities balances.\nWe Are Impacted by Fraudulent or Unlawful Activities of Sellers\nThe law relating to the liability of online service providers is currently unsettled. In addition, governmental agencies have in the past and could in the\nfuture require changes in the way this business is conducted. Under our seller programs, we maintain policies and processes designed to prevent sellers from\ncollecting payments, fraudulently or otherwise, when buyers never receive the products they ordered or when the products received are materially different\nfrom the sellers\u2019 descriptions, and to prevent sellers in our stores or through other stores from selling unlawful, counterfeit, pirated, or stolen goods, selling\ngoods in an unlawful or unethical manner, violating the proprietary rights of others, or otherwise violating our policies. When these policies and processes are\ncircumvented or fail to operate sufficiently, it can harm our business or damage our reputation and we could face civil or criminal liability for unlawful\nactivities by our sellers. Under our A-to-z Guarantee, we may reimburse customers for payments up to certain limits in these situations, and as our third-party\nseller sales grow, the cost of this program will increase and could negatively affect our operating results.\nWe Face Risks Related to Adequately Protecting Our Intellectual Property Rights and Being Accused of Infringing Intellectual Property Rights of Third\nParties\nWe regard our trademarks, service marks, copyrights, patents, trade dress, trade secrets, proprietary technology, and similar intellectual property as\ncritical to our success, and we rely on trademark, copyright, and patent law, trade secret protection, and confidentiality and/or license agreements with our\nemployees, customers, and others to protect our proprietary rights. Effective intellectual property protection is not available in every country in which our\nproducts and services are made available. We also may not be able to acquire or maintain appropriate domain names in all countries in which we do business."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b26c2-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 7, "chroma:document": "Furthermore, regulations governing domain names may not protect our trademarks and similar proprietary rights. We may be unable to prevent third parties\nfrom acquiring domain names that are similar to, infringe upon, or diminish the value of our trademarks and other proprietary rights.\nWe are not always able to discover or determine the extent of any unauthorized use of our proprietary rights. Actions taken by third parties that license\nour proprietary rights may materially diminish the value of our proprietary rights or reputation. The protection of our intellectual property requires the\nexpenditure of significant financial and managerial resources. Moreover, the steps we take to protect our intellectual property do not always adequately protect\nour rights or prevent third\n8"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2712-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 8, "chroma:document": "Table of Contents\nparties from infringing or misappropriating our proprietary rights. We also cannot be certain that others will not independently develop or otherwise acquire\nequivalent or superior technology or other intellectual property rights.\nWe have been subject to, and expect to continue to be subject to, claims and legal proceedings regarding alleged infringement by us of the intellectual\nproperty rights of third parties. Such claims, whether or not meritorious, have in the past, and may in the future, result in the expenditure of significant financial\nand managerial resources, injunctions against us, or significant payments for damages, including to satisfy indemnification obligations or to obtain licenses\nfrom third parties who allege that we have infringed their rights. Such licenses may not be available on terms acceptable to us or at all. These risks have been\namplified by the increase in third parties whose sole or primary business is to assert such claims.\nOur digital content offerings depend in part on effective digital rights management technology to control access to digital content. Breach or\nmalfunctioning of the digital rights management technology that we use could subject us to claims, and content providers may be unwilling to include their\ncontent in our service.\nWe Have Foreign Exchange Risk\nThe results of operations of, and certain of our intercompany balances associated with, our international stores and product and service offerings are\nexposed to foreign exchange rate fluctuations. Due to these fluctuations, operating results may differ materially from expectations, and we may record\nsignificant gains or losses on the remeasurement of intercompany balances. As we have expanded our international operations, our exposure to exchange rate\nfluctuations has increased. We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros,\nand Japanese Yen. When the U.S. Dollar strengthens compared to these currencies, cash equivalents, and marketable securities balances, when translated, may\nbe materially less than expected and vice versa.\nOperating Risks\nOur Expansion Places a Significant Strain on our Management, Operational, Financial, and Other Resources\nWe are continuing to rapidly and significantly expand our global operations, including increasing our product and service offerings and scaling our\ninfrastructure to support our retail and services businesses. The complexity of the current scale of our business can place significant strain on our management,\npersonnel, operations, systems, technical performance, financial resources, and internal financial control and reporting functions, and our expansion increases"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2776-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 8, "chroma:document": "these factors. Failure to manage growth effectively could damage our reputation, limit our growth, and negatively affect our operating results.\nWe Experience Significant Fluctuations in Our Operating Results and Growth Rate\nWe are not always able to accurately forecast our growth rate. We base our expense levels and investment plans on sales estimates. A significant portion\nof our expenses and investments is fixed, and we are not always able to adjust our spending quickly enough if our sales are less than expected.\nOur revenue growth may not be sustainable, and our percentage growth rates may decrease. Our revenue and operating profit growth depends on the\ncontinued growth of demand for the products and services offered by us or our sellers, and our business is affected by general economic, business, and\ngeopolitical conditions worldwide. A softening of demand, whether caused by changes in customer preferences or a weakening of the U.S. or global\neconomies, may result in decreased revenue or growth.\nOur sales and operating results will also fluctuate for many other reasons, including due to factors described elsewhere in this section and the following:\n\u2022our ability to retain and increase sales to existing customers, attract new customers, and satisfy our customers\u2019 demands;\n\u2022our ability to retain and expand our network of sellers;\n\u2022our ability to offer products on favorable terms, manage inventory, and fulfill orders;\n\u2022the introduction of competitive stores, websites, products, services, price decreases, or improvements;\n\u2022changes in usage or adoption rates of the Internet, e-commerce, electronic devices, and web services, including outside the U.S.;\n\u2022timing, effectiveness, and costs of expansion and upgrades of our systems and infrastructure;\n\u2022the success of our geographic, service, and product line expansions;\n\u2022the extent to which we finance, and the terms of any such financing for, our current operations and future growth;\n9"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b27c6-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 9, "chroma:document": "Table of Contents\n\u2022the outcomes of legal proceedings and claims, which may include significant monetary damages or injunctive relief and could have a material\nadverse impact on our operating results;\n\u2022variations in the mix of products and services we sell;\n\u2022variations in our level of merchandise and vendor returns;\n\u2022the extent to which we offer fast and free delivery, continue to reduce prices worldwide, and provide additional benefits to our customers;\n\u2022factors affecting our reputation or brand image (including any actual or perceived inability to achieve our goals or commitments, whether related to\nsustainability, customers, employees, or other topics);\n\u2022the extent to which we invest in technology and content, fulfillment, and other expense categories;\n\u2022increases in the prices of transportation (including fuel), energy products, commodities like paper and packing supplies and hardware products, and\ntechnology infrastructure products, including as a result of inflationary pressures;\n\u2022constrained labor markets, which increase our payroll costs;\n\u2022the extent to which operators of the networks between our customers and our stores successfully charge fees to grant our customers unimpaired and\nunconstrained access to our online services;\n\u2022our ability to collect amounts owed to us when they become due;\n\u2022the extent to which new and existing technologies, or industry trends, restrict online advertising or affect our ability to customize advertising or\notherwise tailor our product and service offerings;\n\u2022the extent to which use of our services is affected by spyware, viruses, phishing and other spam emails, denial of service attacks, data theft, computer\nintrusions, outages, and similar events; and\n\u2022disruptions from natural or human-caused disasters (including public health crises) or extreme weather (including as a result of climate change),\ngeopolitical events and security issues (including terrorist attacks and armed hostilities), labor or trade disputes (including restrictive governmental\nactions impacting us and our third-party sellers in China or other foreign countries), and similar events.\nWe Face Risks Related to Successfully Optimizing and Operating Our Fulfillment Network and Data Centers\nFailures to adequately predict customer demand or otherwise optimize and operate our fulfillment network and data centers successfully from time to\ntime result in excess or insufficient fulfillment or data center capacity, service interruptions, increased costs, and impairment charges, any of which could\nmaterially harm our business. As we continue to add fulfillment and data center capability or add new businesses with different requirements, our fulfillment"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2820-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 9, "chroma:document": "and data center networks become increasingly complex and operating them becomes more challenging. There can be no assurance that we will be able to\noperate our networks effectively.\nIn addition, failure to optimize inventory or staffing in our fulfillment network increases our net shipping cost by requiring long-zone or partial\nshipments. We and our co-sourcers may be unable to adequately staff our fulfillment network and customer service centers. For example, productivity across\nour fulfillment network currently is being affected by regional labor market and global supply chain constraints, which increase payroll costs and make it\ndifficult to hire, train, and deploy a sufficient number of people to operate our fulfillment network as efficiently as we would like.\nUnder some of our commercial agreements, we maintain the inventory of other companies, thereby increasing the complexity of tracking inventory and\noperating our fulfillment network. Our failure to properly handle such inventory or the inability of the other businesses on whose behalf we perform inventory\nfulfillment services to accurately forecast product demand may result in us being unable to secure sufficient storage space or to optimize our fulfillment\nnetwork or cause other unexpected costs and other harm to our business and reputation.\nWe rely on a limited number of shipping companies to deliver inventory to us and completed orders to our customers. An inability to negotiate acceptable\nterms with these companies or performance problems, staffing limitations, or other difficulties experienced by these companies or by our own transportation\nsystems, including as a result of labor market constraints and related costs, could negatively impact our operating results and customer experience. In addition,\nour ability to receive inbound inventory efficiently and ship completed orders to customers also may be negatively affected by natural or human-caused\ndisasters (including public health crises) or extreme weather (including as a result of climate change), geopolitical events and security issues, labor or trade\ndisputes, and similar events.\n10"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b287a-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 10, "chroma:document": "Table of Contents\nWe Could Be Harmed by Data Loss or Other Security Breaches\nBecause we collect, process, store, and transmit large amounts of data, including confidential, sensitive, proprietary, and business and personal\ninformation, failure to prevent or mitigate data loss, theft, misuse, or other security breaches or vulnerabilities affecting our or our vendors\u2019 or customers\u2019\ntechnology, products, and systems, could: expose us or our customers to a risk of loss, disclosure, or misuse of such information; adversely affect our operating\nresults; result in litigation, liability, or regulatory action (including under laws related to privacy, data use, data protection, data security, network security, and\nconsumer protection); deter customers or sellers from using our stores, products, and services; and otherwise harm our business and reputation. We use third-\nparty technology and systems for a variety of reasons, including, without limitation, encryption and authentication technology, employee email, content\ndelivery to customers, back-office support, and other functions. Some of our systems have experienced past security breaches, and, although they did not have\na material adverse effect on our operating results, there can be no assurance that future incidents will not have material adverse effects on our operations or\nfinancial results. Although we have developed systems and processes that are designed to protect customer data and prevent such incidents, including systems\nand processes designed to reduce the impact of a security breach at a third-party vendor or customer, such measures cannot provide absolute security and may\nfail to operate as intended or be circumvented.\nWe Face Risks Related to System Interruption and Lack of Redundancy\nWe experience occasional system interruptions and delays that make our websites and services unavailable or slow to respond and prevent us from\nefficiently accepting or fulfilling orders or providing services to customers and third parties, which may reduce our net sales and the attractiveness of our\nproducts and services. Steps we take to add software and hardware, upgrade our systems and network infrastructure, and improve the stability and efficiency of\nour systems may not be sufficient to avoid system interruptions or delays that could adversely affect our operating results.\nOur computer and communications systems and operations in the past have been, or in the future could be, damaged or interrupted due to events such as\nnatural or human-caused disasters (including public health crises) or extreme weather (including as a result of climate change), geopolitical events and security"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b28d4-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 10, "chroma:document": "issues (including terrorist attacks and armed hostilities), computer viruses, physical or electronic break-ins, operational failures (including from energy\nshortages), and similar events or disruptions. Any of these events could cause system interruption, delays, and loss of critical data, and could prevent us from\naccepting and fulfilling customer orders and providing services, which could make our product and service offerings less attractive and subject us to liability.\nOur systems are not fully redundant and our disaster recovery planning may not be sufficient. In addition, our insurance may not provide sufficient coverage to\ncompensate for related losses. Any of these events could damage our reputation and be expensive to remedy.\nThe Loss of Key Senior Management Personnel or the Failure to Hire and Retain Highly Skilled and Other Personnel Could Negatively Affect Our\nBusiness\nWe depend on our senior management and other key personnel, including our President and CEO. We do not have \u201ckey person\u201d life insurance policies.\nWe also rely on other highly skilled personnel. Competition for qualified personnel in the industries in which we operate, as well as senior management, has\nhistorically been intense. For example, we experience significant competition in the technology industry, particularly for software engineers, computer\nscientists, and other technical staff. In addition, changes we make to our current and future work environments may not meet the needs or expectations of our\nemployees or may be perceived as less favorable compared to other companies\u2019 policies, which could negatively impact our ability to hire and retain qualified\npersonnel. The loss of any of our executive officers or other key employees, the failure to successfully transition key roles, or the inability to hire, train, retain,\nand manage qualified personnel, could harm our business.\nWe also rely on a significant number of personnel to operate our stores, fulfillment network, and data centers and carry out our other operations. Failure\nto successfully hire, train, manage, and retain sufficient personnel to meet our needs can strain our operations, increase payroll and other costs, and harm our\nbusiness and reputation. In addition, changes in laws and regulations applicable to employees, independent contractors, and temporary personnel could increase\nour payroll costs, decrease our operational flexibility, and negatively impact how we are able to staff our operations and supplement our workforce.\nWe are also subject to labor union efforts to organize groups of our employees from time to time. These organizational efforts, if successful, decrease our"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2924-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 10, "chroma:document": "operational flexibility, which could adversely affect our operating efficiency. In addition, our response to any organizational efforts could be perceived\nnegatively and harm our business and reputation.\nOur Supplier Relationships Subject Us to a Number of Risks\nWe have significant suppliers, including content and technology licensors, and in some cases, limited or single-sources of supply, that are important to\nour sourcing, services, manufacturing, and any related ongoing servicing of merchandise and content. We do not have long-term arrangements with most of our\nsuppliers to guarantee availability of merchandise, content,\n11"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b297e-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 11, "chroma:document": "Table of Contents\ncomponents, or services, particular payment terms, or the extension of credit limits. Decisions by our current suppliers to limit or stop selling or licensing\nmerchandise, content, components, or services to us on acceptable terms, or delay delivery, including as a result of one or more supplier bankruptcies due to\npoor economic conditions, as a result of natural or human-caused disasters (including public health crises), or for other reasons, may result in our being unable\nto procure alternatives from other suppliers in a timely and efficient manner and on acceptable terms, or at all. In addition, violations by our suppliers or other\nvendors of applicable laws, regulations, contractual terms, intellectual property rights of others, or our Supply Chain Standards, as well as products or practices\nregarded as unethical, unsafe, or hazardous, could expose us to claims, damage our reputation, limit our growth, and negatively affect our operating results.\nOur Commercial Agreements, Strategic Alliances, and Other Business Relationships Expose Us to Risks\nWe provide physical, e-commerce, and omnichannel retail, cloud services, and other services to businesses through commercial agreements, strategic\nalliances, and business relationships. Under these agreements, we provide web services, technology, fulfillment, computing, digital storage, and other services,\nas well as enable sellers to offer products or services through our stores. These arrangements are complex and require substantial infrastructure capacity,\npersonnel, and other resource commitments, which may limit the amount of business we can service. We may not be able to implement, maintain, and develop\nthe components of these commercial relationships, which may include web services, fulfillment, customer service, inventory management, tax collection,\npayment processing, hardware, content, and third-party software, and engaging third parties to perform services. The amount of compensation we receive under\ncertain of our commercial agreements is partially dependent on the volume of the other company\u2019s sales. Therefore, when the other company\u2019s offerings are not\nsuccessful, the compensation we receive may be lower than expected or the agreement may be terminated. Moreover, we may not be able to enter into\nadditional or alternative commercial relationships and strategic alliances on favorable terms. We also may be subject to claims from businesses to which we\nprovide these services if we are unsuccessful in implementing, maintaining, or developing these services.\nAs our agreements terminate, we may be unable to renew or replace these agreements on comparable terms, or at all. We may in the future enter into"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b29d8-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 11, "chroma:document": "amendments on less favorable terms or encounter parties that have difficulty meeting their contractual obligations to us, which could adversely affect our\noperating results.\nOur present and future commercial agreements, strategic alliances, and business relationships create additional risks such as:\n\u2022disruption of our ongoing business, including loss of management focus on existing businesses;\n\u2022impairment of other relationships;\n\u2022variability in revenue and income from entering into, amending, or terminating such agreements or relationships; and\n\u2022difficulty integrating under the commercial agreements.\nOur Business Suffers When We Are Unsuccessful in Making, Integrating, and Maintaining Acquisitions and Investments\nWe have acquired and invested in a number of companies, and we may in the future acquire or invest in or enter into joint ventures with additional\ncompanies. These transactions involve risks such as:\n\u2022disruption of our ongoing business, including loss of management focus on existing businesses;\n\u2022problems retaining key personnel;\n\u2022additional operating losses and expenses of the businesses we acquired or in which we invested;\n\u2022the potential impairment of tangible and intangible assets and goodwill, including as a result of acquisitions;\n\u2022the potential impairment of customer and other relationships of the company we acquired or in which we invested or our own customers as a result of\nany integration of operations;\n\u2022the difficulty of completing such transactions, including obtaining regulatory approvals or satisfying other closing conditions, and achieving\nanticipated benefits within expected timeframes, or at all;\n\u2022the difficulty of incorporating acquired operations, technology, and rights into our offerings, and unanticipated expenses related to such integration;\n\u2022the difficulty of integrating a new company\u2019s accounting, financial reporting, management, information and data security, human resource, and other\nadministrative systems to permit effective management, and the lack of control if such integration is delayed or not successfully implemented;\n\u2022losses we may incur as a result of declines in the value of an investment or as a result of incorporating an investee\u2019s financial performance into our\nfinancial results;\n12"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2a28-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 12, "chroma:document": "Table of Contents\n\u2022for investments in which an investee\u2019s financial performance is incorporated into our financial results, either in full or in part, or investments for\nwhich we are required to file financial statements or provide financial information, the dependence on the investee\u2019s accounting, financial reporting,\nand similar systems, controls, and processes;\n\u2022the difficulty of implementing at companies we acquire the controls, procedures, and policies appropriate for a larger public company;\n\u2022the risks associated with businesses we acquire or invest in, which may differ from or be more significant than the risks our other businesses face;\n\u2022potential unknown liabilities associated with a company we acquire or in which we invest; and\n\u2022for foreign transactions, additional risks related to the integration of operations across different cultures and languages, and the economic, political,\nand regulatory risks associated with specific countries.\nAs a result of future acquisitions or mergers, we might need to issue additional equity securities, spend our cash, or incur debt, contingent liabilities, or\namortization expenses related to intangible assets, any of which could reduce our profitability and harm our business or only be available on unfavorable terms,\nif at all. In addition, valuations supporting our acquisitions and strategic investments could change rapidly. We could determine that such valuations have\nexperienced impairments or other-than-temporary declines in fair value which could adversely impact our financial results.\nWe Face Significant Inventory Risk\nIn addition to risks described elsewhere in this Item 1A relating to fulfillment network and inventory optimization by us and third parties, we are exposed\nto significant inventory risks that may adversely affect our operating results as a result of seasonality, new product launches, rapid changes in product cycles\nand pricing, defective merchandise, changes in customer demand and consumer spending patterns, changes in consumer tastes with respect to our products,\nspoilage, and other factors. We endeavor to accurately predict these trends and avoid overstocking or understocking products we manufacture and/or sell.\nDemand for products, however, can change significantly between the time inventory or components are ordered and the date of sale. In addition, when we\nbegin selling or manufacturing a new product, it may be difficult to establish vendor relationships, determine appropriate product or component selection, and\naccurately forecast demand. The acquisition of certain types of inventory or components requires significant lead-time and prepayment and they may not be"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2a82-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 12, "chroma:document": "returnable. We carry a broad selection and significant inventory levels of certain products, such as consumer electronics, and at times we are unable to sell\nproducts in sufficient quantities or to meet demand during the relevant selling seasons. Any one of the inventory risk factors set forth above may adversely\naffect our operating results.\nWe Are Subject to Payments-Related Risks\nWe accept payments using a variety of methods, including credit card, debit card, credit accounts (including promotional financing), gift cards, direct\ndebit from a customer\u2019s bank account, consumer invoicing, physical bank check, and payment upon delivery. For existing and future payment options we offer\nto our customers, we currently are subject to, and may become subject to additional, regulations and compliance requirements (including obligations to\nimplement enhanced authentication processes that could result in significant costs and reduce the ease of use of our payments products), as well as fraud. For\ncertain payment methods, including credit and debit cards, we pay interchange and other fees, which may increase over time and raise our operating costs and\nlower profitability. We rely on third parties to provide certain Amazon-branded payment methods and payment processing services, including the processing of\ncredit cards, debit cards, electronic checks, and promotional financing. In each case, it could disrupt our business if these companies become unwilling or\nunable to provide these services to us. We also offer co-branded credit card programs, which could adversely affect our operating results if renewed on less\nfavorable terms or terminated. We are also subject to payment card association operating rules, including data security rules, certification requirements, and\nrules governing electronic funds transfers, which could change or be reinterpreted to make it difficult or impossible for us to comply. Failure to comply with\nthese rules or requirements, as well as any breach, compromise, or failure to otherwise detect or prevent fraudulent activity involving our data security systems,\ncould result in our being liable for card issuing banks\u2019 costs, subject to fines and higher transaction fees, and loss of our ability to accept credit and debit card\npayments from our customers, process electronic funds transfers, or facilitate other types of online payments, and our business and operating results could be\nadversely affected.\nIn addition, we provide regulated services in certain jurisdictions because we enable customers to keep account balances with us and transfer money to\nthird parties, and because we provide services to third parties to facilitate payments on their behalf. Jurisdictions subject us to requirements for licensing,"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2b04-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 12, "chroma:document": "regulatory inspection, bonding and capital maintenance, the use, handling, and segregation of transferred funds, consumer disclosures, maintaining or\nprocessing data, and authentication. We are also subject to or voluntarily comply with a number of other laws and regulations relating to payments, money\nlaundering, international money transfers, privacy, data use, data protection, data security, data localization, network security, consumer\n13"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2b5e-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 13, "chroma:document": "Table of Contents\nprotection, and electronic fund transfers. If we were found to be in violation of applicable laws or regulations, we could be subject to additional requirements\nand civil and criminal penalties, or forced to cease providing certain services.\nWe Have a Rapidly Evolving Business Model and Our Stock Price Is Highly Volatile\nWe have a rapidly evolving business model. The trading price of our common stock fluctuates significantly in response to, among other risks, the risks\ndescribed elsewhere in this Item 1A, as well as:\n\u2022changes in interest rates;\n\u2022conditions or trends in the Internet and the industry segments we operate in;\n\u2022quarterly variations in operating results;\n\u2022fluctuations in the stock market in general and market prices for Internet-related companies in particular;\n\u2022changes in financial estimates by us or decisions to increase or decrease future spending or investment levels;\n\u2022changes in financial estimates and recommendations by securities analysts;\n\u2022changes in our capital structure, including issuance of additional debt or equity to the public;\n\u2022changes in the valuation methodology of, or performance by, other e-commerce or technology companies; and\n\u2022transactions in our common stock by major investors and certain analyst reports, news, and speculation.\nVolatility in our stock price could adversely affect our business and financing opportunities and force us to increase our cash compensation to employees\nor grant larger stock awards than we have historically, which could hurt our operating results or reduce the percentage ownership of our existing stockholders,\nor both.\nLegal and Regulatory Risks\nGovernment Regulation Is Evolving and Unfavorable Changes Could Harm Our Business\nWe are subject to general business regulations and laws, as well as regulations and laws specifically governing the Internet, physical, e-commerce, and\nomnichannel retail, digital content, web services, electronic devices, advertising, artificial intelligence technologies and services, and other products and\nservices that we offer or sell. These regulations and laws cover taxation, privacy, data use, data protection, data security, data localization, network security,\nconsumer protection, pricing, content, copyrights, distribution, transportation, mobile communications, electronic device certification, electronic waste, energy\nconsumption, environmental regulation, electronic contracts and other communications, competition, employment, trade and protectionist measures, web\nservices, the provision of online payment services, registration, licensing, and information reporting requirements, unencumbered Internet access to our"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2bc2-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 13, "chroma:document": "services or access to our facilities, the design and operation of websites, health, safety, and sanitation standards, the characteristics, legality, and quality of\nproducts and services, product labeling, the commercial operation of unmanned aircraft systems, healthcare, and other matters. It is not clear how existing laws\ngoverning issues such as property ownership, libel, privacy, data use, data protection, data security, data localization, network security, and consumer protection\napply to aspects of our operations such as the Internet, e-commerce, digital content, web services, electronic devices, advertising, and artificial intelligence\ntechnologies and services. A large number of jurisdictions regulate our operations, and the extent, nature, and scope of such regulations is evolving and\nexpanding as the scope of our businesses expand. We are regularly subject to formal and informal reviews, investigations, and other proceedings by\ngovernments and regulatory authorities under existing laws, regulations, or interpretations or pursuing new and novel approaches to regulate our operations.\nFor example, we face a number of open investigations based on claims that aspects of our operations violate competition rules, including aspects of Amazon\u2019s\nU.S. and European marketplace for sellers, particularly with respect to use of data, fulfillment services, and featured offers, and legislative and regulatory\ninitiatives in Europe and elsewhere allow authorities to restrict or prohibit certain operations or actions pre-emptively without the need to assess specific\ncompetitive effects. Unfavorable regulations, laws, decisions, or interpretations by government or regulatory authorities applying those laws and regulations, or\ninquiries, investigations, or enforcement actions threatened or initiated by them, could cause us to incur substantial costs, expose us to unanticipated civil and\ncriminal liability or penalties (including substantial monetary fines), diminish the demand for, or availability of, our products and services, increase our cost of\ndoing business, require us to change our business practices in a manner materially adverse to our business, damage our reputation, impede our growth, or\notherwise have a material effect on our operations. The media, political, and regulatory scrutiny we face, which may continue to increase, amplifies these risks.\n14"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2c1c-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 14, "chroma:document": "Table of Contents\nClaims, Litigation, Government Investigations, and Other Proceedings May Adversely Affect Our Business and Results of Operations\nAs an innovative company offering a wide range of consumer and business products and services around the world, we are regularly subject to actual and\nthreatened claims, litigation, reviews, investigations, and other proceedings, including proceedings by governments and regulatory authorities, involving a wide\nrange of issues, including patent and other intellectual property matters, taxes, labor and employment, competition and antitrust, privacy, data use, data\nprotection, data security, data localization, network security, consumer protection, commercial disputes, goods and services offered by us and by third parties,\nand other matters. The number and scale of these proceedings have increased over time as our businesses have expanded in scope and geographic reach, as our\nproducts, services, and operations have become more complex and available to, and used by, more people, and as governments and regulatory authorities seek\nto regulate us on a pre-emptive basis. For example, we are litigating a number of matters alleging price fixing, monopolization, and consumer protection\nclaims, including those brought by state attorneys general. Any of these types of proceedings can have an adverse effect on us because of legal costs, disruption\nof our operations, diversion of management resources, negative publicity, and other factors. The outcomes of these matters are inherently unpredictable and\nsubject to significant uncertainties. Determining legal reserves or possible losses from such matters involves judgment and may not reflect the full range of\nuncertainties and unpredictable outcomes. Until the final resolution of such matters, we may be exposed to losses in excess of the amount recorded, and such\namounts could be material. Should any of our estimates and assumptions change or prove to have been incorrect, it could have a material effect on our\nbusiness, consolidated financial position, results of operations, or cash flows. In addition, it is possible that a resolution of one or more such proceedings,\nincluding as a result of a settlement, could involve licenses, sanctions, consent decrees, or orders requiring us to make substantial future payments, preventing\nus from offering certain products or services, requiring us to change our business practices in a manner materially adverse to our business, requiring\ndevelopment of non-infringing or otherwise altered products or technologies, damaging our reputation, or otherwise having a material effect on our operations."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2c6c-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 14, "chroma:document": "We Are Subject to Product Liability Claims When People or Property Are Harmed by the Products We Sell or Manufacture\nSome of the products we sell or manufacture expose us to product liability or food safety claims relating to personal injury or illness, death, or\nenvironmental or property damage, and can require product recalls or other actions. Third parties who sell products using our services and stores also expose us\nto product liability claims. Additionally, under our A-to-z Guarantee, we may reimburse customers for certain product liability claims up to certain limits in\nthese situations, and as our third-party seller sales grow, the cost of this program will increase and could negatively affect our operating results. Although we\nmaintain liability insurance, we cannot be certain that our coverage will be adequate for liabilities actually incurred or that insurance will continue to be\navailable to us on economically reasonable terms, or at all. Although we impose contractual terms on sellers that are intended to prohibit sales of certain type of\nproducts, we may not be able to detect, enforce, or collect sufficient damages for breaches of such agreements. In addition, some of our agreements with our\nvendors and sellers do not indemnify us from product liability.\nWe Face Additional Tax Liabilities and Collection Obligations\nWe are subject to a variety of taxes and tax collection obligations in the U.S. (federal and state) and numerous foreign jurisdictions. We may recognize\nadditional tax expense and be subject to additional tax liabilities, including other liabilities for tax collection obligations due to changes in laws, regulations,\nadministrative practices, principles, and interpretations related to tax, including changes to the global tax framework, competition, and other laws and\naccounting rules in various jurisdictions. Such changes could come about as a result of economic, political, and other conditions. An increasing number of\njurisdictions are considering or have adopted laws or administrative practices that impose new tax measures, including revenue-based taxes, targeting online\ncommerce and the remote selling of goods and services. These include new obligations to withhold or collect sales, consumption, value added, or other taxes\non online marketplaces and remote sellers, or other requirements that may result in liability for third party obligations. For example, non-U.S. jurisdictions\nhave proposed or enacted taxes on online advertising and marketplace service revenues. Proliferation of these or similar unilateral tax measures may continue\nunless broader international tax reform is implemented. Our results of operations and cash flows could be adversely affected by additional taxes imposed on us"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2cc6-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 14, "chroma:document": "prospectively or retroactively or additional taxes or penalties resulting from the failure to comply with any collection obligations or failure to provide\ninformation about our customers, suppliers, and other third parties for tax reporting purposes to various government agencies. In some cases we also may not\nhave sufficient notice to enable us to build systems and adopt processes to properly comply with new reporting or collection obligations by the effective date.\nOur tax expense and liabilities are also affected by other factors, such as changes in our business operations, acquisitions, investments, entry into new\nbusinesses and geographies, intercompany transactions, the relative amount of our foreign earnings, losses incurred in jurisdictions for which we are not able to\nrealize related tax benefits, the applicability of special or extraterritorial tax regimes, changes in foreign currency exchange rates, changes in our stock price,\nchanges to our forecasts of income and loss and the mix of jurisdictions to which they relate, and changes in our tax assets and liabilities and their\n15"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2d20-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 15, "chroma:document": "Table of Contents\nvaluation. In the ordinary course of our business, there are many transactions and calculations for which the ultimate tax determination is uncertain. Significant\njudgment is required in evaluating and estimating our tax expense, assets, and liabilities.\nWe are also subject to tax controversies in various jurisdictions that can result in tax assessments against us. Developments in an audit, investigation, or\nother tax controversy can have a material effect on our operating results or cash flows in the period or periods for which that development occurs, as well as for\nprior and subsequent periods. Due to the inherent complexity and uncertainty of these matters, interpretations of certain tax laws by authorities, and judicial,\nadministrative, and regulatory processes in certain jurisdictions, the final outcome of any such controversy may be materially different from our expectations.\nFor example, in February 2023, the Indian Tax Authority determined that tax applies to cloud services fees paid to the U.S. We are contesting this\ndetermination; however, if this matter is adversely resolved, we may be required to pay additional amounts with respect to current and prior periods and our\ntaxes in the future could increase. We regularly assess the likelihood of an adverse outcome resulting from these proceedings to determine the adequacy of our\ntax accruals. Although we believe our tax estimates are reasonable, the final outcome of audits, investigations, and any other tax controversies could be\nmaterially different from our historical tax accruals.\nWe Are Subject to Risks Related to Government Contracts and Related Procurement Regulations\nOur contracts with U.S., as well as state, local, and foreign, government entities are subject to various procurement regulations and other requirements\nrelating to their formation, administration, and performance. We are subject to audits and investigations relating to our government contracts, and any\nviolations could result in various civil and criminal penalties and administrative sanctions, including termination of contract, refunding or suspending of\npayments, forfeiture of profits, payment of fines, and suspension or debarment from future government business. In addition, some of these contracts are\nsubject to periodic funding approval and/or provide for termination by the government at any time, without cause.\nItem 1B. Unresolved Staff Comments\nNone.\n16"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2d70-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 16, "chroma:document": "Table of Contents\nItem 2. Properties\nAs of December 31, 2022, we operated the following facilities (in thousands):\nDescription of UseLeased Square\nFootage (1) Owned Square Footage Location\nOffice space 30,611 6,792North America\nOffice space 23,956 1,802International\nPhysical stores (2) 22,881 662North America\nPhysical stores (2) 291 \u2014International\nFulfillment, data centers, and other 391,598 22,058North America\nFulfillment, data centers, and other 148,146 12,613International\nTotal 617,483 43,927\n ___________________\n(1)For leased properties, represents the total leased space excluding sub-leased space.\n(2)This includes 611 North America and 32 International stores as of December 31, 2022.\nSegmentLeased Square Footage\n(1)Owned Square Footage\n(1)\nNorth America 403,984 13,595\nInternational 140,898 6,292\nAWS 18,034 15,446\nTotal 562,916 35,333\n ___________________\n(1)Segment amounts exclude corporate facilities. Shared facilities are allocated among the segments based on usage and primarily relate to facilities that hold\nour technology infrastructure. See Item 8 of Part II, \u201cFinancial Statements and Supplementary Data \u2014 Note 10 \u2014 Segment Information.\u201d\nWe own and lease our corporate headquarters in Washington\u2019s Puget Sound region and Arlington, Virginia.\nItem 3. Legal Proceedings\nSee Item 8 of Part II, \u201cFinancial Statements and Supplementary Data \u2014 Note 7 \u2014 Commitments and Contingencies \u2014 Legal Proceedings.\u201d\nItem 4. Mine Safety Disclosures\nNot applicable.\n17"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2dca-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 17, "chroma:document": "Table of Contents\nPART II\nItem 5. Market for the Registrant\u2019s Common Stock, Related Shareholder Matters, and Issuer Purchases of Equity Securities\nMarket Information\nOur common stock is traded on the Nasdaq Global Select Market under the symbol \u201cAMZN.\u201d\nHolders\nAs of January 25, 2023, there were 10,845 shareholders of record of our common stock, although there is a much larger number of beneficial owners.\nRecent Sales of Unregistered Securities\nNone.\nIssuer Purchases of Equity Securities\nNone.\nItem 6. Reserved\n18"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2e1a-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 18, "chroma:document": "Table of Contents\nItem 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations\nForward-Looking Statements\nThis Annual Report on Form 10-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All\nstatements other than statements of historical fact, including statements regarding guidance, industry prospects, or future results of operations or financial\nposition, made in this Annual Report on Form 10-K are forward-looking. We use words such as anticipates, believes, expects, future, intends, and similar\nexpressions to identify forward-looking statements. Forward-looking statements reflect management\u2019s current expectations and are inherently uncertain. Actual\nresults and outcomes could differ materially for a variety of reasons, including, among others, fluctuations in foreign exchange rates, changes in global\neconomic conditions and customer demand and spending, inflation, interest rates, regional labor market and global supply chain constraints, world events, the\nrate of growth of the Internet, online commerce, and cloud services, the amount that Amazon.com invests in new business opportunities and the timing of those\ninvestments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we\nowe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes\nof claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory\nmanagement, variability in demand, the degree to which we enter into, maintain, and develop commercial agreements, proposed and completed acquisitions\nand strategic transactions, payments risks, and risks of fulfillment throughput and productivity. In addition, global economic and geopolitical conditions and\nadditional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. These risks and uncertainties, as well as other\nrisks and uncertainties that could cause our actual results or outcomes to differ significantly from management\u2019s expectations, are described in greater detail in\nItem 1A of Part I, \u201cRisk Factors.\u201d\nOverview\nOur primary source of revenue is the sale of a wide range of products and services to customers. The products offered through our stores include\nmerchandise and content we have purchased for resale and products offered by third-party sellers, and we also manufacture and sell electronic devices and"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2e74-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 18, "chroma:document": "produce media content. Generally, we recognize gross revenue from items we sell from our inventory as product sales and recognize our net share of revenue\nof items sold by third-party sellers as service sales. We seek to increase unit sales across our stores, through increased product selection, across numerous\nproduct categories. We also offer other services such as compute, storage, and database offerings, fulfillment, advertising, publishing, and digital content\nsubscriptions.\nOur financial focus is on long-term, sustainable growth in free cash flows. Free cash flows are driven primarily by increasing operating income and\nefficiently managing accounts receivable, inventory, accounts payable, and cash capital expenditures, including our decision to purchase or lease property and\nequipment. Increases in operating income primarily result from increases in sales of products and services and efficiently managing our operating costs,\npartially offset by investments we make in longer-term strategic initiatives, including capital expenditures focused on improving the customer experience. To\nincrease sales of products and services, we focus on improving all aspects of the customer experience, including lowering prices, improving availability,\noffering faster delivery and performance times, increasing selection, producing original content, increasing product categories and service offerings, expanding\nproduct information, improving ease of use, improving reliability, and earning customer trust. See \u201cResults of Operations \u2014 Non-GAAP Financial Measures\u201d\nbelow for additional information on our non-GAAP free cash flows financial measures.\nWe seek to reduce our variable costs per unit and work to leverage our fixed costs. Our variable costs include product and content costs, payment\nprocessing and related transaction costs, picking, packaging, and preparing orders for shipment, transportation, customer service support, costs necessary to run\nAWS, and a portion of our marketing costs. Our fixed costs include the costs necessary to build and run our technology infrastructure; to build, enhance, and\nadd features to our online stores, web services, electronic devices, and digital offerings; and to build and optimize our fulfillment network. Variable costs\ngenerally change directly with sales volume, while fixed costs generally are dependent on the timing of capacity needs, geographic expansion, category\nexpansion, and other factors. To decrease our variable costs on a per unit basis and enable us to lower prices for customers, we seek to increase our direct\nsourcing, increase discounts from suppliers, and reduce defects in our processes. To minimize unnecessary growth in fixed costs, we seek to improve process\nefficiencies and maintain a lean culture."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2ece-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 18, "chroma:document": "efficiencies and maintain a lean culture.\nWe seek to turn inventory quickly and collect from consumers before our payments to vendors and sellers become due. Because consumers primarily use\ncredit cards in our stores, our receivables from consumers settle quickly. We expect variability in inventory turnover over time since it is affected by numerous\nfactors, including our product mix, the mix of sales by us and by third-party sellers, our continuing focus on in-stock inventory availability and selection of\nproduct offerings, supply chain disruptions and resulting vendor lead times, our investment in new geographies and product lines, and the extent to which we\nchoose to utilize third-party fulfillment providers. We also expect some variability in accounts payable days over time since they are affected by several factors,\nincluding the mix of product sales, the mix of sales by third-party sellers, the mix\n19"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2f1e-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 19, "chroma:document": "Table of Contents\nof suppliers, seasonality, and changes in payment and other terms over time, including the effect of balancing pricing and timing of payment terms with\nsuppliers.\nWe expect spending in technology and content will increase over time as we add computer scientists, designers, software and hardware engineers, and\nmerchandising employees. Our technology and content investment and capital spending projects often support a variety of product and service offerings due to\ngeographic expansion and the cross-functionality of our systems and operations. We seek to invest efficiently in several areas of technology and content,\nincluding AWS, and expansion of new and existing product categories and service offerings, as well as in technology infrastructure to enhance the customer\nexperience and improve our process efficiencies. We believe that advances in technology, specifically the speed and reduced cost of processing power, data\nstorage and analytics, improved wireless connectivity, and the practical applications of artificial intelligence and machine learning, will continue to improve\nusers\u2019 experience on the Internet and increase its ubiquity in people\u2019s lives. To best take advantage of these continued advances in technology, we are investing\nin AWS, which offers a broad set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services,\nto developers and enterprises of all sizes. We are also investing in initiatives to build and deploy innovative and efficient software and electronic devices as\nwell as other initiatives including the development of a satellite network for global broadband service and autonomous vehicles for ride-hailing services.\nWe seek to efficiently manage shareholder dilution while maintaining the flexibility to issue shares for strategic purposes, such as financings,\nacquisitions, and aligning employee compensation with shareholders\u2019 interests. We utilize restricted stock units as our primary vehicle for equity compensation\nbecause we believe this compensation model aligns the long-term interests of our shareholders and employees. In measuring shareholder dilution, we include\nall vested and unvested stock awards outstanding, without regard to estimated forfeitures. Total shares outstanding plus outstanding stock awards were 10.5\nbillion and 10.6 billion as of December 31, 2021 and 2022.\nOur financial reporting currency is the U.S. Dollar and changes in foreign exchange rates significantly affect our reported results and consolidated\ntrends. For example, if the U.S. Dollar weakens year-over-year relative to currencies in our international locations, our consolidated net sales and operating"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2f78-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 19, "chroma:document": "expenses will be higher than if currencies had remained constant. Likewise, if the U.S. Dollar strengthens year-over-year relative to currencies in our\ninternational locations, our consolidated net sales and operating expenses will be lower than if currencies had remained constant. We believe that our increasing\ndiversification beyond the U.S. economy through our growing international businesses benefits our shareholders over the long-term. We also believe it is useful\nto evaluate our operating results and growth rates before and after the effect of currency changes.\nIn addition, the remeasurement of our intercompany balances can result in significant gains and losses associated with the effect of movements in foreign\ncurrency exchange rates. Currency volatilities may continue, which may significantly impact (either positively or negatively) our reported results and\nconsolidated trends and comparisons.\nFor additional information about each line item addressed above, refer to Item 8 of Part II, \u201cFinancial Statements and Supplementary Data \u2014 Note 1 \u2014\nDescription of Business, Accounting Policies, and Supplemental Disclosures.\u201d\nOur Annual Report on Form 10-K for the year ended December 31, 2021 includes a discussion and analysis of our financial condition and results of\noperations for the year ended December 31, 2020 in Item 7 of Part II, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of\nOperations.\u201d\nCritical Accounting Estimates\nThe preparation of financial statements in conformity with generally accepted accounting principles of the United States (\u201cGAAP\u201d) requires estimates\nand assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the\nconsolidated financial statements and accompanying notes. Critical accounting estimates are those estimates made in accordance with GAAP that involve a\nsignificant level of estimation uncertainty and have had or are reasonably likely to have a material impact on the financial condition or results of operations of\nthe Company. Based on this definition, we have identified the critical accounting estimates addressed below. We also have other key accounting policies, which\ninvolve the use of estimates, judgments, and assumptions that are significant to understanding our results. For additional information, see Item 8 of Part II,\n\u201cFinancial Statements and Supplementary Data \u2014 Note 1 \u2014 Description of Business, Accounting Policies, and Supplemental Disclosures.\u201d Although we\nbelieve that our estimates, assumptions, and judgments are reasonable, they are based upon information presently available. Actual results may differ\nsignificantly from these estimates under different assumptions, judgments, or conditions."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b2fd2-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 19, "chroma:document": "significantly from these estimates under different assumptions, judgments, or conditions.\nInventories\nInventories, consisting of products available for sale, are primarily accounted for using the first-in first-out method, and are valued at the lower of cost\nand net realizable value. This valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such\nas through sales to individual customers, returns to product\n20"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b302c-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 20, "chroma:document": "Table of Contents\nvendors, or liquidations, and expected recoverable values of each disposition category. These assumptions about future disposition of inventory are inherently\nuncertain and changes in our estimates and assumptions may cause us to realize material write-downs in the future. As a measure of sensitivity, for every 1% of\nadditional inventory valuation allowance as of December 31, 2022, we would have recorded an additional cost of sales of approximately $390 million.\nIn addition, we enter into supplier commitments for certain electronic device components and certain products. These commitments are based on\nforecasted customer demand. If we reduce these commitments, we may incur additional costs.\nIncome Taxes\nWe are subject to income taxes in the U.S. (federal and state) and numerous foreign jurisdictions. Tax laws, regulations, administrative practices,\nprinciples, and interpretations in various jurisdictions may be subject to significant change, with or without notice, due to economic, political, and other\nconditions, and significant judgment is required in evaluating and estimating our provision and accruals for these taxes. There are many transactions that occur\nduring the ordinary course of business for which the ultimate tax determination is uncertain. In addition, our actual and forecasted earnings are subject to\nchange due to economic, political, and other conditions and significant judgment is required in determining our ability to use our deferred tax assets.\nOur effective tax rates could be affected by numerous factors, such as changes in our business operations, acquisitions, investments, entry into new\nbusinesses and geographies, intercompany transactions, the relative amount of our foreign earnings, including earnings being lower than anticipated in\njurisdictions where we have lower statutory rates and higher than anticipated in jurisdictions where we have higher statutory rates, losses incurred in\njurisdictions for which we are not able to realize related tax benefits, the applicability of special tax regimes, changes in foreign currency exchange rates,\nchanges in our stock price, changes to our forecasts of income and loss and the mix of jurisdictions to which they relate, changes in our deferred tax assets and\nliabilities and their valuation, changes in the laws, regulations, administrative practices, principles, and interpretations related to tax, including changes to the\nglobal tax framework, competition, and other laws and accounting rules in various jurisdictions. In addition, a number of countries have enacted or are actively\npursuing changes to their tax laws applicable to corporate multinationals."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b3086-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 20, "chroma:document": "pursuing changes to their tax laws applicable to corporate multinationals.\nWe are also currently subject to tax controversies in various jurisdictions, and these jurisdictions may assess additional income tax liabilities against us.\nDevelopments in an audit, investigation, or other tax controversy could have a material effect on our operating results or cash flows in the period or periods for\nwhich that development occurs, as well as for prior and subsequent periods. We regularly assess the likelihood of an adverse outcome resulting from these\nproceedings to determine the adequacy of our tax accruals. Although we believe our tax estimates are reasonable, the final outcome of audits, investigations,\nand any other tax controversies could be materially different from our historical income tax provisions and accruals.\nLiquidity and Capital Resources\nCash flow information is as follows (in millions):\n  Year Ended December 31,\n 2021 2022\nCash provided by (used in):\nOperating activities $ 46,327 $ 46,752 \nInvesting activities (58,154) (37,601)\nFinancing activities 6,291 9,718 \nOur principal sources of liquidity are cash flows generated from operations and our cash, cash equivalents, and marketable securities balances, which, at\nfair value, were $96.0 billion and $70.0 billion as of December 31, 2021 and 2022. Amounts held in foreign currencies were $22.7 billion and $18.3 billion as\nof December 31, 2021 and 2022. Our foreign currency balances include British Pounds, Canadian Dollars, Euros, and Japanese Yen.\nCash provided by (used in) operating activities was $46.3 billion and $46.8 billion in 2021 and 2022. Our operating cash flows result primarily from cash\nreceived from our consumer, seller, developer, enterprise, and content creator customers, and advertisers, offset by cash payments we make for products and\nservices, employee compensation, payment processing and related transaction costs, operating leases, and interest payments. Cash received from our customers\nand other activities generally corresponds to our net sales. The increase in operating cash flow in 2022, compared to the prior year, was primarily due to the\nincrease in net income, excluding non-cash expenses, partially offset by changes in working capital. Working capital at any specific point in time is subject to"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b30d6-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 20, "chroma:document": "many variables, including variability in demand, inventory management and category expansion, the timing of cash receipts and payments, customer and\nvendor payment terms, and fluctuations in foreign exchange rates.\n21"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b313a-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 21, "chroma:document": "Table of Contents\nCash provided by (used in) investing activities corresponds with cash capital expenditures, including leasehold improvements, incentives received from\nproperty and equipment vendors, proceeds from asset sales, cash outlays for acquisitions, investments in other companies and intellectual property rights, and\npurchases, sales, and maturities of marketable securities. Cash provided by (used in) investing activities was $(58.2) billion and $(37.6) billion in 2021 and\n2022, with the variability caused primarily by purchases, sales, and maturities of marketable securities. Cash capital expenditures were $55.4 billion, and $58.3\nbillion in 2021 and 2022, which primarily reflect investments in technology infrastructure (the majority of which is to support AWS business growth) and in\nadditional capacity to support our fulfillment network. We expect to continue these investments over time, with increased spending on technology\ninfrastructure. We made cash payments, net of acquired cash, related to acquisition and other investment activity of $2.0 billion and $8.3 billion in 2021 and\n2022. We funded the acquisition of MGM Holdings Inc. with cash on hand. We expect to fund the acquisitions of 1Life Healthcare, Inc. (One Medical) and\niRobot Corporation with cash on hand.\nCash provided by (used in) financing activities was $6.3 billion and $9.7 billion in 2021 and 2022. Cash inflows from financing activities resulted from\nproceeds from short-term debt, and other and long-term-debt of $27.0 billion and $62.7 billion in 2021 and 2022. Cash outflows from financing activities\nresulted from repurchases of common stock, payments of short-term debt, and other, long-term debt, finance leases, and financing obligations of $20.7 billion\nand $53.0 billion in 2021 and 2022. Property and equipment acquired under finance leases was $7.1 billion and $675 million in 2021 and 2022.\nWe had no borrowings outstanding under the two unsecured revolving credit facilities, $6.8 billion of borrowings outstanding under the commercial\npaper programs, and $1.0 billion of borrowings outstanding under the secured revolving credit facility as of December 31, 2022. See Item 8 of Part II,"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b31bc-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 21, "chroma:document": "\u201cFinancial Statements and Supplementary Data \u2014 Note 6 \u2014 Debt\u201d for additional information. \nAs of December 31, 2022, cash, cash equivalents, and marketable securities held by foreign subsidiaries were $4.7 billion. We intend to invest\nsubstantially all of our foreign subsidiary earnings, as well as our capital in our foreign subsidiaries, indefinitely outside of the U.S. in those jurisdictions in\nwhich we would incur significant, additional costs upon repatriation of such amounts.\nOur U.S. taxable income is reduced by accelerated depreciation deductions and increased by the impact of capitalized research and development\nexpenses. U.S. tax rules provide for enhanced accelerated depreciation deductions by allowing the election of full expensing of qualified property, primarily\nequipment, through 2022. Our federal tax provision included a partial election for 2020 and 2021, and a full election for 2022. Effective January 1, 2022,\nresearch and development expenses are required to be capitalized and amortized for U.S. tax purposes, which delays the deductibility of these expenses. Cash\ntaxes paid (net of refunds) were $3.7 billion and $6.0 billion for 2021 and 2022.\nAs of December 31, 2021 and 2022, restricted cash, cash equivalents, and marketable securities were $260 million and $365 million. See Item 8 of Part\nII, \u201cFinancial Statements and Supplementary Data \u2014 Note 6 \u2014 Debt\u201d and \u201cFinancial Statements and Supplementary Data \u2014 Note 7 \u2014 Commitments and\nContingencies\u201d for additional discussion of our principal contractual commitments, as well as our pledged assets. Additionally, we have purchase obligations\nand open purchase orders, including for inventory and capital expenditures, that support normal operations and are primarily due in the next twelve months.\nThese purchase obligations and open purchase orders are generally cancellable in full or in part through the contractual provisions.\nWe believe that cash flows generated from operations and our cash, cash equivalents, and marketable securities balances, as well as our borrowing\narrangements, will be sufficient to meet our anticipated operating cash needs for at least the next twelve months. However, any projections of future cash needs\nand cash flows are subject to substantial uncertainty. See Item 1A of Part I, \u201cRisk Factors.\u201d We continually evaluate opportunities to sell additional equity or"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b320c-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 21, "chroma:document": "debt securities, obtain credit facilities, obtain finance and operating lease arrangements, enter into financing obligations, repurchase common stock, pay\ndividends, or repurchase, refinance, or otherwise restructure our debt for strategic reasons or to further strengthen our financial position.\nThe sale of additional equity or convertible debt securities would be dilutive to our shareholders. In addition, we will, from time to time, consider the\nacquisition of, or investment in, complementary businesses, products, services, capital infrastructure, and technologies, which might affect our liquidity\nrequirements or cause us to secure additional financing, or issue additional equity or debt securities. There can be no assurance that additional credit lines or\nfinancing instruments will be available in amounts or on terms acceptable to us, if at all. In addition, economic conditions and actions by policymaking bodies\nare contributing to rising interest rates and significant capital market volatility, which, along with increases in our borrowing levels, could increase our future\nborrowing costs.\n22"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b3266-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 22, "chroma:document": "Table of Contents\nResults of Operations\nWe have organized our operations into three segments: North America, International, and AWS. These segments reflect the way the Company evaluates\nits business performance and manages its operations. See Item 8 of Part II, \u201cFinancial Statements and Supplementary Data \u2014 Note 10 \u2014 Segment\nInformation.\u201d\nOverview\nMacroeconomic factors, including inflation, increased interest rates, significant capital market volatility, the prolonged COVID-19 pandemic, global\nsupply chain constraints, and global economic and geopolitical developments, have direct and indirect impacts on our results of operations that are difficult to\nisolate and quantify. These factors contributed to increases in our operating costs during 2022, particularly across our North America and International\nsegments, primarily due to a return to more normal, seasonal demand volumes in relation to our fulfillment network fixed costs, increased transportation and\nutility costs, and increased wage rates. In addition, rising fuel, utility, and food costs, rising interest rates, and recessionary fears may impact customer demand\nand our ability to forecast consumer spending patterns. We also expect the current macroeconomic environment and enterprise customer cost optimization\nefforts to impact our AWS revenue growth rates. We expect some or all of these factors to continue to impact our operations into Q1 2023.\nNet Sales\nNet sales include product and service sales. Product sales represent revenue from the sale of products and related shipping fees and digital media content\nwhere we record revenue gross. Service sales primarily represent third-party seller fees, which includes commissions and any related fulfillment and shipping\nfees, AWS sales, advertising services, Amazon Prime membership fees, and certain digital content subscriptions. Net sales information is as follows (in\nmillions):\n  Year Ended December 31,\n 2021 2022\nNet Sales:\nNorth America $ 279,833 $ 315,880 \nInternational 127,787 118,007 \nAWS 62,202 80,096 \nConsolidated $ 469,822 $ 513,983 \nYear-over-year Percentage Growth (Decline):\nNorth America 18 % 13 %\nInternational 22 (8)\nAWS 37 29 \nConsolidated 22 9 \nYear-over-year Percentage Growth, excluding the effect of foreign exchange rates:\nNorth America 18 % 13 %\nInternational 20 4 \nAWS 37 29 \nConsolidated 21 13 \nNet sales mix:"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b32c0-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 22, "chroma:document": "Consolidated 21 13 \nNet sales mix:\nNorth America 60 % 61 %\nInternational 27 23 \nAWS 13 16 \nConsolidated 100 % 100 %\nSales increased 9% in 2022, compared to the prior year. Changes in foreign currency exchange rates reduced net sales by $15.5 billion in 2022. For a\ndiscussion of the effect of foreign exchange rates on sales growth, see \u201cEffect of Foreign Exchange Rates\u201d below.\nNorth America sales increased 13% in 2022, compared to the prior year. The sales growth primarily reflects increased unit sales, including sales by third-\nparty sellers, advertising sales, and subscription services. Increased unit sales were driven largely by our continued focus on price, selection, and convenience\nfor our customers, including from our shipping offers.\n23"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b331a-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 23, "chroma:document": "Table of Contents\nInternational sales decreased 8% in 2022, compared to the prior year, primarily due to the impact of changes in foreign currency exchange rates, partially\noffset by increased unit sales, including sales by third-party sellers, advertising sales, and subscription services. Increased unit sales were driven largely by our\ncontinued focus on price, selection, and convenience for our customers, including from our shipping offers. Changes in foreign currency exchange rates\nreduced International net sales by $15.0 billion in 2022.\nAWS sales increased 29% in 2022, compared to the prior year. The sales growth primarily reflects increased customer usage, partially offset by pricing\nchanges, primarily driven by long-term customer contracts.\nOperating Income (Loss)\nOperating income (loss) by segment is as follows (in millions):\nYear Ended December 31,\n2021 2022\nOperating Income (Loss)\nNorth America $ 7,271 $ (2,847)\nInternational (924) (7,746)\nAWS 18,532 22,841 \nConsolidated $ 24,879 $ 12,248 \nOperating income was $24.9 billion and $12.2 billion for 2021 and 2022. We believe that operating income is a more meaningful measure than gross\nprofit and gross margin due to the diversity of our product categories and services.\nThe North America operating loss in 2022, as compared to the operating income in the prior year, is primarily due to increased fulfillment and shipping\ncosts, due in part to increases in investments in our fulfillment network, transportation costs, and wage rates and incentives, increased technology and content\ncosts, and growth in certain operating expenses, partially offset by increased unit sales, including sales by third-party sellers, and advertising sales. Changes in\nforeign currency exchange rates positively impacted operating loss by $274 million in 2022.\nThe increase in International operating loss in absolute dollars in 2022, compared to the prior year, is primarily due to increased fulfillment and shipping\ncosts, due in part to increases in investments in our fulfillment network, transportation costs, and wage rates and incentives, increased technology and content\ncosts, and growth in certain operating expenses, partially offset by increased advertising sales and increased unit sales, including sales by third-party sellers.\nChanges in foreign currency exchange rates negatively impacted operating loss by $857 million in 2022."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b3374-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/aws-10-k-2023.pdf", "page": 23, "chroma:document": "The increase in AWS operating income in absolute dollars in 2022, compared to the prior year, is primarily due to increased sales and cost structure\nproductivity, including a reduction in depreciation and amortization expense from our change in the estimated useful lives of our servers and networking\nequipment, partially offset by increased payroll and related expenses and spending on technology infrastructure, all of which were primarily driven by\nadditional investments to support AWS business growth. Changes in foreign currency exchange rates positively impacted operating income by $1.4 billion in\n2022.\n24"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b33c4-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 24, "chroma:document": "Table of Contents\nOperating Expenses\nInformation about operating expenses is as follows (in millions): \n Year Ended December 31,\n  2021 2022\nOperating expenses:\nCost of sales $ 272,344 $ 288,831 \nFulfillment 75,111 84,299 \nTechnology and content 56,052 73,213 \nSales and marketing 32,551 42,238 \nGeneral and administrative 8,823 11,891 \nOther operating expense (income), net 62 1,263 \nTotal operating expenses $ 444,943 $ 501,735 \nYear-over-year Percentage Growth (Decline):\nCost of sales 17 % 6 %\nFulfillment 28 12 \nTechnology and content 31 31 \nSales and marketing 48 30 \nGeneral and administrative 32 35 \nOther operating expense (income), net (183) 1,936 \nPercent of Net Sales:\nCost of sales 58.0 % 56.2 %\nFulfillment 16.0 16.4 \nTechnology and content 11.9 14.2 \nSales and marketing 6.9 8.2 \nGeneral and administrative 1.9 2.3 \nOther operating expense (income), net 0.0 0.2 \nCost of Sales\nCost of sales primarily consists of the purchase price of consumer products, inbound and outbound shipping costs, including costs related to sortation and\ndelivery centers and where we are the transportation service provider, and digital media content costs where we record revenue gross, including video and\nmusic.\nThe increase in cost of sales in absolute dollars in 2022, compared to the prior year, is primarily due to increased shipping and product costs resulting\nfrom increased sales and increases in investments in our fulfillment network, transportation costs, and wage rates and incentives. Changes in foreign exchange\nrates reduced cost of sales by $10.8 billion in 2022.\nShipping costs to receive products from our suppliers are included in our inventory and recognized as cost of sales upon sale of products to our\ncustomers. Shipping costs, which include sortation and delivery centers and transportation costs, were $76.7 billion and $83.5 billion in 2021 and 2022. We"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b341e-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "dataset/aws-10-k-2023.pdf", "page": 24, "chroma:document": "expect our cost of shipping to continue to increase to the extent our customers accept and use our shipping offers at an increasing rate, we use more expensive\nshipping methods, including faster delivery, and we offer additional services. We seek to mitigate costs of shipping over time in part through achieving higher\nsales volumes, optimizing our fulfillment network, negotiating better terms with our suppliers, and achieving better operating efficiencies. We believe that\noffering low prices to our customers is fundamental to our future success, and one way we offer lower prices is through shipping offers.\nCosts to operate our AWS segment are primarily classified as \u201cTechnology and content\u201d as we leverage a shared infrastructure that supports both our\ninternal technology requirements and external sales to AWS customers.\nFulfillment\nFulfillment costs primarily consist of those costs incurred in operating and staffing our North America and International fulfillment centers, physical\nstores, and customer service centers and payment processing costs. While AWS payment processing and related transaction costs are included in \u201cFulfillment,\u201d\nAWS costs are primarily classified as \u201cTechnology and content.\u201d Fulfillment costs as a percentage of net sales may vary due to several factors, such as payment\nprocessing and related\n25"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b3478-255e-11ef-be8d-0242ac1c000c
encoding: FLOAT32
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{"source": "dataset/aws-10-k-2023.pdf", "page": 25, "chroma:document": "Table of Contents\ntransaction costs, our level of productivity and accuracy, changes in volume, size, and weight of units received and fulfilled, the extent to which third-party\nsellers utilize Fulfillment by Amazon services, timing of fulfillment network and physical store expansion, the extent we utilize fulfillment services provided\nby third parties, mix of products and services sold, and our ability to affect customer service contacts per unit by implementing improvements in our operations\nand enhancements to our customer self-service features. Additionally, sales by our sellers have higher payment processing and related transaction costs as a\npercentage of net sales compared to our retail sales because payment processing costs are based on the gross purchase price of underlying transactions.\nThe increase in fulfillment costs in absolute dollars in 2022, compared to the prior year, is primarily due to increased investments in our fulfillment\nnetwork and variable costs corresponding with increased product and service sales volume and inventory levels, and increased wage rates and incentives.\nChanges in foreign exchange rates reduced fulfillment costs by $2.5 billion in 2022.\nWe seek to expand our fulfillment network to accommodate a greater selection and in-stock inventory levels and to meet anticipated shipment volumes\nfrom sales of our own products as well as sales by third parties for which we provide the fulfillment services. We regularly evaluate our facility requirements.\nTechnology and Content\nTechnology and content costs include payroll and related expenses for employees involved in the research and development of new and existing products\nand services, development, design, and maintenance of our stores, curation and display of products and services made available in our online stores, and\ninfrastructure costs. Infrastructure costs include servers, networking equipment, and data center related depreciation and amortization, rent, utilities, and other\nexpenses necessary to support AWS and other Amazon businesses. Collectively, these costs reflect the investments we make in order to offer a wide variety of\nproducts and services to our customers, including expenditures related to initiatives to build and deploy innovative and efficient software and electronic devices\nand the development of a satellite network for global broadband service and autonomous vehicles for ride-hailing services.\nWe seek to invest efficiently in numerous areas of technology and content so we may continue to enhance the customer experience and improve our\nprocess efficiency through rapid technology developments, while operating at an ever increasing scale. Our technology and content investment and capital\nspending projects often support a variety of product and service offerings due to geographic expansion and the cross-functionality of our systems and"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b34d2-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 25, "chroma:document": "operations. We expect spending in technology and content to increase over time as we continue to add employees and technology infrastructure. These costs are\nallocated to segments based on usage. The increase in technology and content costs in absolute dollars in 2022, compared to the prior year, is primarily due to\nincreased payroll and related costs associated with technical teams responsible for expanding our existing products and services and initiatives to introduce new\nproducts and service offerings, and an increase in spending on technology infrastructure, partially offset by a reduction in depreciation and amortization\nexpense from our change in the estimated useful lives of our servers and networking equipment. See Item 8 of Part II, \u201cFinancial Statements and\nSupplementary Data \u2014 Note 1 \u2014 Description of Business, Accounting Policies, and Supplemental Disclosures \u2014 Use of Estimates\u201d for additional information\non the change in estimated useful lives of our servers and networking equipment.\nSales and Marketing\nSales and marketing costs include advertising and payroll and related expenses for personnel engaged in marketing and selling activities, including sales\ncommissions related to AWS. We direct customers to our stores primarily through a number of marketing channels, such as our sponsored search, social and\nonline advertising, third party customer referrals, television advertising, and other initiatives. Our marketing costs are largely variable, based on growth in sales\nand changes in rates. To the extent there is increased or decreased competition for these traffic sources, or to the extent our mix of these channels shifts, we\nwould expect to see a corresponding change in our marketing costs.\nThe increase in sales and marketing costs in absolute dollars in 2022, compared to the prior year, is primarily due to increased payroll and related\nexpenses for personnel engaged in marketing and selling activities and higher marketing spend.\nWhile costs associated with Amazon Prime membership benefits and other shipping offers are not included in sales and marketing expense, we view\nthese offers as effective worldwide marketing tools, and intend to continue offering them indefinitely.\nGeneral and Administrative\nThe increase in general and administrative costs in absolute dollars in 2022, compared to the prior year, is primarily due to increases in payroll and\nrelated expenses and professional fees.\n26"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 26, "chroma:document": "Table of Contents\nOther Operating Expense (Income), Net\nOther operating expense (income), net was $62 million and $1.3 billion during 2021 and 2022, and was primarily related to the amortization of intangible\nassets and, for 2022, $1.1 billion of impairments of property and equipment and operating leases.\nInterest Income and Expense\nOur interest income was $448 million and $989 million during 2021 and 2022, primarily due to an increase in prevailing rates. We generally invest our\nexcess cash in AAA-rated money market funds and investment grade short- to intermediate-term fixed income securities. Our interest income corresponds with\nthe average balance of invested funds based on the prevailing rates, which vary depending on the geographies and currencies in which they are invested.\nInterest expense was $1.8 billion and $2.4 billion in 2021 and 2022 and was primarily related to debt and finance leases. See Item 8 of Part II, \u201cFinancial\nStatements and Supplementary Data \u2014 Note 4 \u2014 Leases and Note 6 \u2014 Debt\u201d for additional information.\nOur long-term lease liabilities were $67.7 billion and $73.0 billion as of December 31, 2021 and 2022. Our long-term debt was $48.7 billion and $67.1\nbillion as of December 31, 2021 and 2022. See Item 8 of Part II, \u201cFinancial Statements and Supplementary Data \u2014 Note 4 \u2014 Leases and Note 6 \u2014 Debt\u201d for\nadditional information.\nOther Income (Expense), Net\nOther income (expense), net was $14.6 billion and $(16.8) billion during 2021 and 2022. The primary components of other income (expense), net are\nrelated to equity securities valuations and adjustments, equity warrant valuations, and foreign currency. Included in other income (expense), net in 2021 and\n2022 is a marketable equity securities valuation gain (loss) of $11.8 billion and $(12.7) billion from our equity investment in Rivian.\nIncome Taxes\nOur effective tax rate is subject to significant variation due to several factors, including variability in our pre-tax and taxable income and loss and the mix\nof jurisdictions to which they relate, intercompany transactions, the applicability of special tax regimes, changes in how we do business, acquisitions,"}


created_at: 2024-06-08 06:19:44
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id: ee8b357c-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 26, "chroma:document": "investments, developments in tax controversies, changes in our stock price, changes in our deferred tax assets and liabilities and their valuation, foreign\ncurrency gains (losses), changes in statutes, regulations, case law, and administrative practices, principles, and interpretations related to tax, including changes\nto the global tax framework, competition, and other laws and accounting rules in various jurisdictions, and relative changes of expenses or losses for which tax\nbenefits are not recognized. Our effective tax rate can be more or less volatile based on the amount of pre-tax income or loss. For example, the impact of\ndiscrete items and non-deductible expenses on our effective tax rate is greater when our pre-tax income is lower. In addition, we record valuation allowances\nagainst deferred tax assets when there is uncertainty about our ability to generate future income in relevant jurisdictions.\nWe recorded a provision (benefit) for income taxes of $4.8 billion and $(3.2) billion in 2021 and 2022. See Item 8 of Part II, \u201cFinancial Statements and\nSupplementary Data \u2014 Note 9 \u2014 Income Taxes\u201d for additional information.\nNon-GAAP Financial Measures\nRegulation G, Conditions for Use of Non-GAAP Financial Measures, and other SEC regulations define and prescribe the conditions for use of certain\nnon-GAAP financial information. Our measures of free cash flows and the effect of foreign exchange rates on our consolidated statements of operations meet\nthe definition of non-GAAP financial measures.\nWe provide multiple measures of free cash flows because we believe these measures provide additional perspective on the impact of acquiring property\nand equipment with cash and through finance leases and financing obligations.\n27"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 27, "chroma:document": "Table of Contents\nFree Cash Flow\nFree cash flow is cash flow from operations reduced by \u201cPurchases of property and equipment, net of proceeds from sales and incentives.\u201d The following\nis a reconciliation of free cash flow to the most comparable GAAP cash flow measure, \u201cNet cash provided by (used in) operating activities,\u201d for 2021 and 2022\n(in millions):\n Year Ended December 31,\n 2021 2022\nNet cash provided by (used in) operating activities $ 46,327 $ 46,752 \nPurchases of property and equipment, net of proceeds from sales and incentives (55,396) (58,321)\nFree cash flow $ (9,069)$ (11,569)\nNet cash provided by (used in) investing activities $ (58,154)$ (37,601)\nNet cash provided by (used in) financing activities $ 6,291 $ 9,718 \nFree Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations\nFree cash flow less principal repayments of finance leases and financing obligations is free cash flow reduced by \u201cPrincipal repayments of finance\nleases\u201d and \u201cPrincipal repayments of financing obligations.\u201d Principal repayments of finance leases and financing obligations approximates the actual\npayments of cash for our finance leases and financing obligations. The following is a reconciliation of free cash flow less principal repayments of finance\nleases and financing obligations to the most comparable GAAP cash flow measure, \u201cNet cash provided by (used in) operating activities,\u201d for 2021 and 2022 (in\nmillions):\n Year Ended December 31,\n 2021 2022\nNet cash provided by (used in) operating activities $ 46,327 $ 46,752 \nPurchases of property and equipment, net of proceeds from sales and incentives (55,396) (58,321)\nFree cash flow (9,069) (11,569)\nPrincipal repayments of finance leases (11,163) (7,941)\nPrincipal repayments of financing obligations (162) (248)\nFree cash flow less principal repayments of finance leases and financing obligations $ (20,394)$ (19,758)\nNet cash provided by (used in) investing activities $ (58,154)$ (37,601)\nNet cash provided by (used in) financing activities $ 6,291 $ 9,718 \n28"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 28, "chroma:document": "Table of Contents\nFree Cash Flow Less Equipment Finance Leases and Principal Repayments of All Other Finance Leases and Financing Obligations\nFree cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations is free cash flow reduced by\nequipment acquired under finance leases, which is included in \u201cProperty and equipment acquired under finance leases, net of remeasurements and\nmodifications,\u201d principal repayments of all other finance lease liabilities, which is included in \u201cPrincipal repayments of finance leases,\u201d and \u201cPrincipal\nrepayments of financing obligations.\u201d All other finance lease liabilities and financing obligations consists of property. In this measure, equipment acquired\nunder finance leases is reflected as if these assets had been purchased with cash, which is not the case as these assets have been leased. The following is a\nreconciliation of free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations to the most\ncomparable GAAP cash flow measure, \u201cNet cash provided by (used in) operating activities,\u201d for 2021 and 2022 (in millions):\n Year Ended December 31,\n 2021 2022\nNet cash provided by (used in) operating activities $ 46,327 $ 46,752 \nPurchases of property and equipment, net of proceeds from sales and incentives (55,396) (58,321)\nFree cash flow (9,069) (11,569)\nEquipment acquired under finance leases (1) (4,422) (299)\nPrincipal repayments of all other finance leases (2) (687) (670)\nPrincipal repayments of financing obligations (162) (248)\nFree cash flow less equipment finance leases and principal repayments of all other finance leases and financing\nobligations $ (14,340)$ (12,786)\nNet cash provided by (used in) investing activities $ (58,154)$ (37,601)\nNet cash provided by (used in) financing activities $ 6,291 $ 9,718 \n___________________\n(1)For the year ended December 31, 2021 and 2022, this amount relates to equipment included in \u201cProperty and equipment acquired under finance leases, net\nof remeasurements and modifications\u201d of $7,061 million and $675 million."}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 28, "chroma:document": "(2)For the year ended December 31, 2021 and 2022, this amount relates to property included in \u201cPrincipal repayments of finance leases\u201d of $11,163 million\nand $7,941 million.\nAll of these free cash flows measures have limitations as they omit certain components of the overall cash flow statement and do not represent the\nresidual cash flow available for discretionary expenditures. For example, these measures of free cash flows do not incorporate the portion of payments\nrepresenting principal reductions of debt or cash payments for business acquisitions. Additionally, our mix of property and equipment acquisitions with cash or\nother financing options may change over time. Therefore, we believe it is important to view free cash flows measures only as a complement to our entire\nconsolidated statements of cash flows.\nEffect of Foreign Exchange Rates\nInformation regarding the effect of foreign exchange rates, versus the U.S. Dollar, on our net sales, operating expenses, and operating income is provided\nto show reported period operating results had the foreign exchange rates remained the same as those in effect in the comparable prior year period. The effect on\nour net sales, operating expenses, and operating income from changes in our foreign exchange rates versus the U.S. Dollar is as follows (in millions):\n Year Ended December 31, 2021 Year Ended December 31, 2022\n  As\nReportedExchange\nRate\nEffect (1)At Prior\nYear\nRates (2)As\nReportedExchange\nRate\nEffect (1)At Prior\nYear\nRates (2)\nNet sales $469,822 $ (3,804)$466,018 $513,983 $ 15,495 $529,478 \nOperating expenses 444,943 (3,653) 441,290 501,735 16,356 518,091 \nOperating income 24,879 (151) 24,728 12,248 (861) 11,387 \n___________________\n(1)Represents the change in reported amounts resulting from changes in foreign exchange rates from those in effect in the comparable prior year period for\noperating results.\n(2)Represents the outcome that would have resulted had foreign exchange rates in the reported period been the same as those in effect in the comparable prior\nyear period for operating results.\n29"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 29, "chroma:document": "Table of Contents\nGuidance\nWe provided guidance on February 2, 2023, in our earnings release furnished on Form 8-K as set forth below. These forward-looking statements reflect\nAmazon.com\u2019s expectations as of February 2, 2023, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially\naffected by many factors, such as uncertainty regarding the impacts of the COVID-19 pandemic, fluctuations in foreign exchange rates, changes in global\neconomic and geopolitical conditions and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor\nmarket and global supply chain constraints, world events, the rate of growth of the Internet, online commerce, and cloud services, as well as those outlined in\nItem 1A of Part I, \u201cRisk Factors.\u201d\nFirst Quarter 2023 Guidance\n\u2022Net sales are expected to be between $121.0 billion and $126.0 billion, or to grow between 4% and 8% compared with first quarter 2022. This\nguidance anticipates an unfavorable impact of approximately 210 basis points from foreign exchange rates.\n\u2022Operating income is expected to be between $0 and $4.0 billion, compared with $3.7 billion in first quarter 2022.\n\u2022This guidance assumes, among other things, that no additional business acquisitions, restructurings, or legal settlements are concluded.\n30"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 30, "chroma:document": "Table of Contents\nItem 7A. Quantitative and Qualitative Disclosures About Market Risk\nWe are exposed to market risk for the effect of interest rate changes, foreign currency fluctuations, and changes in the market values of our investments.\nInformation relating to quantitative and qualitative disclosures about market risk is set forth below and in Item 7 of Part II, \u201cManagement\u2019s Discussion and\nAnalysis of Financial Condition and Results of Operations \u2014 Liquidity and Capital Resources.\u201d\nInterest Rate Risk\nOur exposure to market risk for changes in interest rates relates primarily to our investment portfolio and our debt. Our long-term debt is carried at\namortized cost and fluctuations in interest rates do not impact our consolidated financial statements. However, the fair value of our long-term debt, which pays\ninterest at a fixed rate, will generally fluctuate with movements of interest rates, increasing in periods of declining rates of interest and declining in periods of\nincreasing rates of interest.\nWe generally invest our excess cash in AAA-rated money market funds and investment grade short- to intermediate-term fixed income securities. Fixed\nincome securities may have their fair market value adversely affected due to a rise in interest rates, and we may suffer losses in principal if forced to sell\nsecurities that have declined in market value due to changes in interest rates. The following table provides information about our cash equivalents and\nmarketable fixed income securities, including principal cash flows by expected maturity and the related weighted-average interest rates as of December 31,\n2022 (in millions, except percentages):\n2023 2024 2025 2026 2027 Thereafter TotalEstimated Fair\nValue as of\nDecember 31,\n2022\nMoney market funds $ 27,899 $ \u2014 $ \u2014 $ \u2014 $ \u2014 $ \u2014 $ 27,899 $ 27,899 \nWeighted average interest rate 4.18 % \u2014 % \u2014 % \u2014 % \u2014 % \u2014 % 4.18 %\nCorporate debt securities 17,500 2,486 2,332 748 9 \u2014 23,075 22,627 \nWeighted average interest rate 4.06 % 0.97 % 1.23 % 1.45 % 2.33 % \u2014 % 3.35 %\nU.S. government and agency securities 819 358 554 396 80 75 2,282 2,146"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 30, "chroma:document": "Weighted average interest rate 1.05 % 0.98 % 0.81 % 0.83 % 1.24 % 1.83 % 0.98 %\nAsset-backed securities 1,059 872 413 146 128 72 2,690 2,572 \nWeighted average interest rate 0.99 % 1.30 % 1.37 % 1.39 % 1.41 % 1.06 % 1.19 %\nForeign government and agency\nsecurities 519 19 \u2014 \u2014 \u2014 \u2014 538 535 \nWeighted average interest rate 4.24 % 0.60 % \u2014 % \u2014 % \u2014 % \u2014 % 4.11 %\nOther fixed income securities 138 61 48 \u2014 \u2014 \u2014 247 237 \nWeighted average interest rate 0.40 % 0.56 % 1.15 % \u2014 % \u2014 % \u2014 % 0.58 %\n$ 47,934 $ 3,796 $ 3,347 $ 1,290 $ 217 $ 147 $ 56,731 \nCash equivalents and marketable\nfixed income securities $ 56,016 \nAs of December 31, 2022, we had long-term debt with a face value of $70.5 billion, including the current portion, primarily consisting of fixed rate\nunsecured senior notes. See Item 8 of Part II, \u201cFinancial Statements and Supplementary Data \u2014 Note 6 \u2014 Debt\u201d for additional information.\n31"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 31, "chroma:document": "Table of Contents\nForeign Exchange Risk\nDuring 2022, net sales from our International segment accounted for 23% of our consolidated revenues. Net sales and related expenses generated from\nour internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the\nfunctional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen. The results of operations of, and certain of our\nintercompany balances associated with, our internationally-focused stores and AWS are exposed to foreign exchange rate fluctuations. Upon consolidation, as\nforeign exchange rates vary, net sales and other operating results may differ materially from expectations, and we may record significant gains or losses on the\nremeasurement of intercompany balances. For example, as a result of fluctuations in foreign exchange rates throughout the year compared to rates in effect the\nprior year, International segment net sales decreased by $15.0 billion in comparison with the prior year.\nWe have foreign exchange risk related to foreign-denominated cash, cash equivalents, and marketable securities (\u201cforeign funds\u201d). Based on the balance\nof foreign funds as of December 31, 2022, of $18.3 billion, an assumed 5%, 10%, and 20% adverse change to foreign exchange would result in declines of\n$915 million, $1.8 billion, and $3.7 billion.\nWe also have foreign exchange risk related to our intercompany balances denominated in various foreign currencies. Based on the intercompany balances\nas of December 31, 2022, an assumed 5%, 10%, and 20% adverse change to foreign exchange rates would result in losses of $275 million, $555 million, and\n$1.1 billion, recorded to \u201cOther income (expense), net.\u201d\nSee Item 7 of Part II, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2014 Results of Operations \u2014 Effect of\nForeign Exchange Rates\u201d for additional information on the effect on reported results of changes in foreign exchange rates.\nEquity Investment Risk\nAs of December 31, 2022, our recorded value in equity and equity warrant investments in public and private companies was $7.2 billion. Our equity and\nequity warrant investments in publicly traded companies, which primarily relate to Rivian, represent $5.0 billion of our investments as of December 31, 2022,"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 31, "chroma:document": "and are recorded at fair value, which is subject to market price volatility. We record our equity warrant investments in private companies at fair value and adjust\nour equity investments in private companies for observable price changes or impairments. Valuations of private companies are inherently more complex due to\nthe lack of readily available market data. The current global economic conditions provide additional uncertainty. As such, we believe that market sensitivities\nare not practicable. See Item 8 of Part II, \u201cFinancial Statements and Supplementary Data \u2014 Note 1 \u2014 Description of Business, Accounting Policies, and\nSupplemental Disclosures\u201d for additional information.\n32"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 32, "chroma:document": "Table of Contents\nItem 8. Financial Statements and Supplementary Data\nINDEX TO CONSOLIDATED FINANCIAL STATEMENTS\n Page\nReport of Ernst & Young LLP, Independent Registered Public Accounting Firm (PCAOB ID: 42) 34\nConsolidated Statements of Cash Flows 36\nConsolidated Statements of Operations 37\nConsolidated Statements of Comprehensive Income (Loss) 38\nConsolidated Balance Sheets 39\nConsolidated Statements of Stockholders\u2019 Equity 40\nNotes to Consolidated Financial Statements 41\n33"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 33, "chroma:document": "Table of Contents\nReport of Independent Registered Public Accounting Firm\nThe Board of Directors and Shareholders\nAmazon.com, Inc.\nOpinion on the Financial Statements\nWe have audited the accompanying consolidated balance sheets of Amazon.com, Inc. (the Company) as of December 31, 2022 and 2021, and the related\nconsolidated statements of operations, comprehensive income (loss), stockholders\u2019 equity, and cash flows for each of the three years in the period ended\nDecember 31, 2022, and the related notes (collectively referred to as the \u201cconsolidated financial statements\u201d). In our opinion, the consolidated financial\nstatements present fairly, in all material respects, the financial position of the Company at December 31, 2022 and 2021, and the results of its operations and its\ncash flows for each of the three years in the period ended December 31, 2022, in conformity with U.S. generally accepted accounting principles.\nWe also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company\u2019s\ninternal control over financial reporting as of December 31, 2022, based on criteria established in Internal Control \u2014 Integrated Framework issued by the\nCommittee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated February 2, 2023 expressed an unqualified\nopinion thereon.\nBasis for Opinion\nThese consolidated financial statements are the responsibility of the Company\u2019s management. Our responsibility is to express an opinion on the\nCompany\u2019s consolidated financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be\nindependent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and\nExchange Commission and the PCAOB.\nWe conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain\nreasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audits included\nperforming procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing\nprocedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 33, "chroma:document": "financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating\nthe overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.\nCritical Audit Matter\nThe critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was\ncommunicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the consolidated\nfinancial statements and (2) involved our especially challenging, subjective or complex judgments. The communication of the critical audit matter does not\nalter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below,\nproviding a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.\n34"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 34, "chroma:document": "Table of Contents\nUncertain Tax Positions\nDescription of\nthe MatterAs discussed in Notes 1 and 9 of the consolidated financial statements, the Company is subject to income taxes in the U.S. and\nnumerous foreign jurisdictions and during the ordinary course of business, there are many tax positions for which the ultimate tax\ndetermination is uncertain. As a result, significant judgment is required in evaluating the Company\u2019s tax positions and determining its\nprovision for income taxes. The Company uses significant judgment in (1) determining whether a tax position\u2019s technical merits are\nmore likely than not to be sustained and (2) measuring the amount of tax benefit that qualifies for recognition. As of December 31,\n2022, the Company reported accrued liabilities of $4.0 billion for various tax contingencies.\nAuditing the recognition and measurement of the Company\u2019s tax contingencies was challenging because the evaluation of whether a\ntax position is more likely than not to be sustained and the measurement of the benefit of various tax positions can be complex and\ninvolves significant auditor judgment. Management\u2019s evaluation of tax positions is based on interpretations of tax laws and legal\nrulings, and may be impacted by regulatory changes and judicial and examination activity.\nHow We Addressed the\nMatter in Our AuditWe tested controls over the Company\u2019s process to assess the technical merits of its tax contingencies, including controls over: the\nassessment as to whether a tax position is more likely than not to be sustained; the measurement of the benefit of its tax positions,\nboth initially and on an ongoing basis; and the development of the related disclosures.\nWe involved our international tax, transfer pricing, and research and development tax professionals in assessing the technical merits\nof certain of the Company\u2019s tax positions. Depending on the nature of the specific tax position and, as applicable, developments with\nthe relevant tax authorities relating thereto, our procedures included obtaining and examining the Company\u2019s analysis including the\nCompany\u2019s correspondence with such tax authorities and evaluating the underlying facts upon which the tax positions are based. We\nused our knowledge of and experience with international, transfer pricing, and other income tax laws of the relevant taxing\njurisdictions to evaluate the Company\u2019s accounting for its tax contingencies. We evaluated developments in the applicable regulatory\nenvironments to assess potential effects on the Company\u2019s positions, including recent decisions in relevant court cases. We analyzed\nthe appropriateness of the Company\u2019s assumptions and the accuracy of the Company\u2019s calculations and data used to determine the"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 34, "chroma:document": "amount of tax benefits to recognize. We evaluated the Company\u2019s income tax disclosures in relation to these matters.\n/s/ Ernst & Young LLP\nWe have served as the Company\u2019s auditor since 1996.\nSeattle, Washington\nFebruary 2, 2023\n35"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 35, "chroma:document": "Table of Contents\nAMAZON.COM, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in millions)\n  Year Ended December 31,\n 2020 2021 2022\nCASH, CASH EQUIV ALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD $ 36,410 $ 42,377 $ 36,477 \nOPERA TING ACTIVITIES:\nNet income (loss) 21,331 33,364 (2,722)\nAdjustments to reconcile net income (loss) to net cash from operating activities:\nDepreciation and amortization of property and equipment and capitalized content costs, operating lease\nassets, and other 25,180 34,433 41,921 \nStock-based compensation 9,208 12,757 19,621 \nOther expense (income), net (2,582) (14,306) 16,966 \nDeferred income taxes (554) (310) (8,148)\nChanges in operating assets and liabilities:\nInventories (2,849) (9,487) (2,592)\nAccounts receivable, net and other (8,169) (18,163) (21,897)\nAccounts payable 17,480 3,602 2,945 \nAccrued expenses and other 5,754 2,123 (1,558)\nUnearned revenue 1,265 2,314 2,216 \nNet cash provided by (used in) operating activities 66,064 46,327 46,752 \nINVESTING ACTIVITIES:\nPurchases of property and equipment (40,140) (61,053) (63,645)\nProceeds from property and equipment sales and incentives 5,096 5,657 5,324 \nAcquisitions, net of cash acquired, and other (2,325) (1,985) (8,316)\nSales and maturities of marketable securities 50,237 59,384 31,601 \nPurchases of marketable securities (72,479) (60,157) (2,565)\nNet cash provided by (used in) investing activities (59,61 1) (58,154) (37,601)\nFINANCING ACTIVITIES:"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 35, "chroma:document": "FINANCING ACTIVITIES:\nCommon stock repurchased \u2014 \u2014 (6,000)\nProceeds from short-term debt, and other 6,796 7,956 41,553 \nRepayments of short-term debt, and other (6,177) (7,753) (37,554)\nProceeds from long-term debt 10,525 19,003 21,166 \nRepayments of long-term debt (1,553) (1,590) (1,258)\nPrincipal repayments of finance leases (10,642) (11,163) (7,941)\nPrincipal repayments of financing obligations (53) (162) (248)\nNet cash provided by (used in) financing activities (1,104) 6,291 9,718 \nForeign currency ef fect on cash, cash equivalents, and restricted cash 618 (364) (1,093)\nNet increase (decrease) in cash, cash equivalents, and restricted cash 5,967 (5,900) 17,776 \nCASH, CASH EQUIV ALENTS, AND RESTRICTED CASH, END OF PERIOD $ 42,377 $ 36,477 $ 54,253 \nSee accompanying notes to consolidated financial statements.\n36"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 36, "chroma:document": "Table of Contents\nAMAZON.COM, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in millions, except per share data)\n  Year Ended December 31,\n 2020 2021 2022\nNet product sales $ 215,915 $ 241,787 $ 242,901 \nNet service sales 170,149 228,035 271,082 \nTotal net sales 386,064 469,822 513,983 \nOperating expenses:\nCost of sales 233,307 272,344 288,831 \nFulfillment 58,517 75,111 84,299 \nTechnology and content 42,740 56,052 73,213 \nSales and marketing 22,008 32,551 42,238 \nGeneral and administrative 6,668 8,823 11,891 \nOther operating expense (income), net (75) 62 1,263 \nTotal operating expenses 363,165 444,943 501,735 \nOperating income 22,899 24,879 12,248 \nInterest income 555 448 989 \nInterest expense (1,647) (1,809) (2,367)\nOther income (expense), net 2,371 14,633 (16,806)\nTotal non-operating income (expense) 1,279 13,272 (18,184)\nIncome (loss) before income taxes 24,178 38,151 (5,936)\nBenefit (provision) for income taxes (2,863) (4,791) 3,217 \nEquity-method investment activity, net of tax 16 4 (3)\nNet income (loss) $ 21,331 $ 33,364 $ (2,722)\nBasic earnings per share $ 2.13 $ 3.30 $ (0.27)\nDiluted earnings per share $ 2.09 $ 3.24 $ (0.27)\nWeighted-average shares used in computation of earnings per share:\nBasic 10,005 10,117 10,189 \nDiluted 10,198 10,296 10,189 \nSee accompanying notes to consolidated financial statements.\n37"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 37, "chroma:document": "Table of Contents\nAMAZON.COM, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)\n(in millions)\n  Year Ended December 31,\n 2020 2021 2022\nNet income (loss) $ 21,331 $ 33,364 $ (2,722)\nOther comprehensive income (loss):\nForeign currency translation adjustments, net of tax of $(36), $47, and $100 561 (819) (2,586)\nNet change in unrealized gains (losses) on available-for-sale debt securities:\nUnrealized gains (losses), net of tax of $(83), $72, and $159 273 (343) (823)\nReclassification adjustment for losses (gains) included in \u201cOther income (expense),\nnet,\u201d net of tax of $8, $13, and $0 (28) (34) 298 \nNet unrealized gains (losses) on available-for-sale debt securities 245 (377) (525)\nTotal other comprehensive income (loss) 806 (1,196) (3,111)\nComprehensive income (loss) $ 22,137 $ 32,168 $ (5,833)\nSee accompanying notes to consolidated financial statements.\n38"}


created_at: 2024-06-08 06:19:44
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{"source": "dataset/aws-10-k-2023.pdf", "page": 38, "chroma:document": "Table of Contents\nAMAZON.COM, INC.\nCONSOLIDATED BALANCE SHEETS\n(in millions, except per share data)\nDecember 31,\n 2021 2022\nASSETS\nCurrent assets:\nCash and cash equivalents $ 36,220 $ 53,888 \nMarketable securities 59,829 16,138 \nInventories 32,640 34,405 \nAccounts receivable, net and other 32,891 42,360 \nTotal current assets 161,580 146,791 \nProperty and equipment, net 160,281 186,715 \nOperating leases 56,082 66,123 \nGoodwill 15,371 20,288 \nOther assets 27,235 42,758 \nTotal assets $ 420,549 $ 462,675 \nLIABILITIES AND STOCKHOLDERS\u2019 EQUITY\nCurrent liabilities:\nAccounts payable $ 78,664 $ 79,600 \nAccrued expenses and other 51,775 62,566 \nUnearned revenue 11,827 13,227 \nTotal current liabilities 142,266 155,393 \nLong-term lease liabilities 67,651 72,968 \nLong-term debt 48,744 67,150 \nOther long-term liabilities 23,643 21,121 \nCommitments and contingencies (Note 7)\nStockholders\u2019 equity:\nPreferred stock ($0.01 par value; 500 shares authorized; no shares issued or outstanding) \u2014 \u2014 \nCommon stock ($0.01 par value; 100,000 shares authorized; 10,644 and 10,757 shares issued; 10,175 and\n10,242 shares outstanding) 106 108 \nTreasury stock, at cost (1,837) (7,837)\nAdditional paid-in capital 55,437 75,066 \nAccumulated other comprehensive income (loss) (1,376) (4,487)\nRetained earnings 85,915 83,193 \nTotal stockholders\u2019 equity 138,245 146,043 \nTotal liabilities and stockholders\u2019 equity $ 420,549 $ 462,675 \nSee accompanying notes to consolidated financial statements.\n39"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 39, "chroma:document": "Table of Contents\nAMAZON.COM, INC.\nCONSOLIDATED STATEMENTS OF STOCKHOLDERS\u2019 EQUITY\n(in millions)\n Common Stock     \n Shares AmountTreasury\nStockAdditional\nPaid-In\nCapitalAccumulated Other\nComprehensive\nIncome (Loss)Retained\nEarningsTotal\nStockholders\u2019\nEquity\nBalance as of January 1, 2020 9,950 $ 104 $ (1,837) $ 33,559 $ (986) $ 31,220 $ 62,060 \nNet income \u2014 \u2014 \u2014 \u2014 \u2014 21,331 21,331 \nOther comprehensive income (loss) \u2014 \u2014 \u2014 \u2014 806 \u2014 806 \nStock-based compensation and issuance of employee\nbenefit plan stock 116 1 \u2014 9,206 \u2014 \u2014 9,207 \nBalance as of December 31, 2020 10,066 105 (1,837) 42,765 (180) 52,551 93,404 \nNet income \u2014 \u2014 \u2014 \u2014 \u2014 33,364 33,364 \nOther comprehensive income (loss) \u2014 \u2014 \u2014 \u2014 (1,196) \u2014 (1,196)\nStock-based compensation and issuance of employee\nbenefit plan stock 109 1 \u2014 12,672 \u2014 \u2014 12,673 \nBalance as of December 31, 2021 10,175 106 (1,837) 55,437 (1,376) 85,915 138,245 \nNet loss \u2014 \u2014 \u2014 \u2014 \u2014 (2,722) (2,722)\nOther comprehensive income (loss) \u2014 \u2014 \u2014 \u2014 (3,111) \u2014 (3,111)\nStock-based compensation and issuance of employee\nbenefit plan stock 113 2 \u2014 19,629 \u2014 \u2014 19,631 \nCommon stock repurchased (46) \u2014 (6,000) \u2014 \u2014 \u2014 (6,000)\nBalance as of December 31, 2022 10,242 $ 108 $ (7,837) $ 75,066 $ (4,487) $ 83,193 $ 146,043 \nSee accompanying notes to consolidated financial statements.\n40"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b3dba-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 40, "chroma:document": "Table of Contents\nAMAZON.COM, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nNote 1 \u2014 DESCRIPTION OF BUSINESS, ACCOUNTING POLICIES, AND SUPPLEMENTAL DISCLOSURES\nDescription of Business\nWe seek to be Earth\u2019s most customer-centric company. In each of our segments, we serve our primary customer sets, consisting of consumers, sellers,\ndevelopers, enterprises, content creators, advertisers, and employees. We serve consumers through our online and physical stores and focus on selection, price,\nand convenience. We offer programs that enable sellers to grow their businesses, sell their products in our stores, and fulfill orders through us, and programs\nthat allow authors, independent publishers, musicians, filmmakers, Twitch streamers, skill and app developers, and others to publish and sell content. We serve\ndevelopers and enterprises of all sizes through AWS, which offers a broad set of on-demand technology services, including compute, storage, database,\nanalytics, and machine learning, and other services. We also manufacture and sell electronic devices. In addition, we provide advertising services to sellers,\nvendors, publishers, authors, and others, through programs such as sponsored ads, display, and video advertising.\nWe have organized our operations into three segments: North America, International, and AWS. See \u201cNote 10 \u2014 Segment Information.\u201d\nCommon Stock Split\nOn May 27, 2022, we effected a 20-for-1 stock split of our common stock and proportionately increased the number of authorized shares of common\nstock. All share, restricted stock unit (\u201cRSU\u201d), and per share or per RSU information throughout this Annual Report on Form 10-K has been retroactively\nadjusted to reflect the stock split. The shares of common stock retain a par value of $0.01 per share. Accordingly, an amount equal to the par value of the\nincreased shares resulting from the stock split was reclassified from \u201cAdditional paid-in capital\u201d to \u201cCommon stock.\u201d\nPrior Period Reclassifications\nCertain prior period amounts have been reclassified to conform to the current period presentation. \u201cOther operating expense (income), net\u201d was\nreclassified into \u201cDepreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other\u201d on our consolidated\nstatements of cash flows.\nPrinciples of Consolidation"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 40, "chroma:document": "statements of cash flows.\nPrinciples of Consolidation\nThe consolidated financial statements include the accounts of Amazon.com, Inc. and its consolidated entities (collectively, the \u201cCompany\u201d), consisting of\nits wholly-owned subsidiaries and those entities in which we have a variable interest and of which we are the primary beneficiary, including certain entities in\nIndia and certain entities that support our seller lending financing activities. Intercompany balances and transactions between consolidated entities are\neliminated.\nUse of Estimates\nThe preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and\nliabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates\nare used for, but not limited to, income taxes, useful lives of equipment, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-\nbased compensation forfeiture rates, vendor funding, inventory valuation, collectability of receivables, impairment of property and equipment and operating\nleases, valuation and impairment of investments, self-insurance liabilities, and viewing patterns of capitalized video content. Actual results could differ\nmaterially from these estimates. We review the useful lives of equipment on an ongoing basis, and effective January 1, 2022 we changed our estimate of the\nuseful lives for our servers from four years to five years and for our networking equipment from five years to six years. The longer useful lives are due to\ncontinuous improvements in our hardware, software, and data center designs. The effect of this change in estimate for the year ended December 31, 2022,\nbased on servers and networking equipment that were included in \u201cProperty and equipment, net\u201d as of December 31, 2021 and those acquired during the year\nended December 31, 2022, was a reduction in depreciation and amortization expense of $3.6 billion and a benefit to net loss of $2.8 billion, or $0.28 per basic\nshare and $0.28 per diluted share.\nFor the year ended December 31, 2022, we recorded approximately $1.1 billion, of which $720 million was recorded in the fourth quarter, of\nimpairments of property and equipment and operating leases primarily related to physical stores. These charges were recorded in \u201cOther operating expense"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 40, "chroma:document": "(income), net\u201d on our consolidated statements of operations and primarily impacted our North America segment. For the year ended December 31, 2022, we\nalso recorded expenses of approximately\n41"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b3ec8-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 41, "chroma:document": "Table of Contents\n$480 million primarily in \u201cFulfillment\u201d on our consolidated statements of operations relating to terminating contracts for certain leases not yet commenced as\nwell as other purchase commitments, which primarily impacted our North America segment.\nFor the year ended December 31, 2022, we recorded approximately $720 million, of which $640 million was recorded in the fourth quarter, of estimated\nseverance costs primarily related to planned role eliminations. These charges were recorded primarily in \u201cTechnology and content,\u201d \u201cFulfillment,\u201d and\n\u201cGeneral and administrative\u201d on our consolidated statements of operations and primarily impacted our North America segment.\nSupplemental Cash Flow Information\nThe following table shows supplemental cash flow information (in millions):\nYear Ended December 31,\n2020 2021 2022\nSUPPLEMENT AL CASH FLOW  INFORMA TION:\nCash paid for interest on debt $ 916 $ 1,098 $ 1,561 \nCash paid for operating leases $ 4,475 $ 6,722 $ 8,633 \nCash paid for interest on finance leases $ 612 $ 521 $ 374 \nCash paid for interest on financing obligations $ 102 $ 153 $ 207 \nCash paid for income taxes, net of refunds $ 1,713 $ 3,688 $ 6,035 \nAssets acquired under operating leases $ 16,217 $ 25,369 $ 18,800 \nProperty and equipment acquired under finance leases, net of remeasurements and modifications $ 11,588 $ 7,061 $ 675 \nProperty and equipment recognized during the construction period of build-to-suit lease arrangements $ 2,267 $ 5,846 $ 3,187 \nProperty and equipment derecognized after the construction period of build-to-suit lease arrangements, with\nthe associated leases recognized as operating $ \u2014 $ 230 $ 5,158 \nEarnings Per Share\nBasic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our\nweighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we\nhave a net loss, stock awards are excluded from our calculation of earnings per share as their inclusion would have an antidilutive effect.\nThe following table shows the calculation of diluted shares (in millions):"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b3fae-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 41, "chroma:document": "The following table shows the calculation of diluted shares (in millions):\n  Year Ended December 31,\n 2020 2021 2022\nShares used in computation of basic earnings per share 10,005 10,117 10,189 \nTotal dilutive effect of outstanding stock awards 193 179 \u2014 \nShares used in computation of diluted earnings per share 10,198 10,296 10,189 \nRevenue\nRevenue is measured based on the amount of consideration that we expect to receive, reduced by estimates for return allowances, promotional discounts,\nand rebates. Revenue also excludes any amounts collected on behalf of third parties, including sales and indirect taxes. In arrangements where we have\nmultiple performance obligations, the transaction price is allocated to each performance obligation using the relative stand-alone selling price. We generally\ndetermine stand-alone selling prices based on the prices charged to customers or using expected cost plus a margin.\nA description of our principal revenue generating activities is as follows:\nRetail sales - We offer consumer products through our online and physical stores. Revenue is recognized when control of the goods is transferred to the\ncustomer, which generally occurs upon our delivery to a third-party carrier or, in the case of an Amazon delivery, to the customer.\nThird-party seller services - We offer programs that enable sellers to sell their products in our stores, and fulfill orders through us. We are not the seller of\nrecord in these transactions. The commissions and any related fulfillment and shipping fees we earn from these arrangements are recognized when the services\nare rendered, which generally occurs upon delivery of the related products to a third-party carrier or, in the case of an Amazon delivery, to the customer.\n42"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b4044-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 42, "chroma:document": "Table of Contents\nSubscription services - Our subscription sales include fees associated with Amazon Prime memberships and access to content including digital video,\naudiobooks, digital music, e-books, and other non-AWS subscription services. Prime memberships provide our customers with access to an evolving suite of\nbenefits that represent a single stand-ready obligation. Subscriptions are paid for at the time of or in advance of delivering the services. Revenue from such\narrangements is recognized over the subscription period.\nAdvertising services - We provide advertising services to sellers, vendors, publishers, authors, and others, through programs such as sponsored ads,\ndisplay, and video advertising. Revenue is recognized as ads are delivered based on the number of clicks or impressions.\nAWS - Our AWS arrangements include global sales of compute, storage, database, and other services. Revenue is allocated to services using stand-alone\nselling prices and is primarily recognized when the customer uses these services, based on the quantity of services rendered, such as compute or storage\ncapacity delivered on-demand. Certain services, including compute and database, are also offered as a fixed quantity over a specified term, for which revenue is\nrecognized ratably. Sales commissions we pay in connection with contracts that exceed one year are capitalized and amortized over the contract term.\nOther - Other revenue includes sales related to various other offerings, such as certain licensing and distribution of video content and shipping services,\nand our co-branded credit card agreements. Revenue is recognized when content is licensed or distributed and as or when services are performed.\nReturn Allowances\nReturn allowances, which reduce revenue and cost of sales, are estimated using historical experience. Liabilities for return allowances are included in\n\u201cAccrued expenses and other\u201d and were $859 million, $1.0 billion, and $1.3 billion as of December 31, 2020, 2021, and 2022. Additions to the allowance were\n$3.5 billion, $5.1 billion, and $5.5 billion and deductions from the allowance were $3.6 billion, $4.9 billion, and $5.2 billion in 2020, 2021, and 2022. Included\nin \u201cInventories\u201d on our consolidated balance sheets are assets totaling $852 million, $882 million, and $948 million as of December 31, 2020, 2021, and 2022,"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
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{"source": "dataset/aws-10-k-2023.pdf", "page": 42, "chroma:document": "for the rights to recover products from customers associated with our liabilities for return allowances.\nCost of Sales\nCost of sales primarily consists of the purchase price of consumer products, inbound and outbound shipping costs, including costs related to sortation and\ndelivery centers and where we are the transportation service provider, and digital media content costs where we record revenue gross, including video and\nmusic. Shipping costs to receive products from our suppliers are included in our inventory, and recognized as cost of sales upon sale of products to our\ncustomers. Payment processing and related transaction costs, including those associated with seller transactions, are classified in \u201cFulfillment\u201d on our\nconsolidated statements of operations.\nVendor Agreements\nWe have agreements with our vendors to receive consideration primarily for cooperative marketing efforts, promotions, incentives, and volume\nrebates. We generally consider these amounts received from vendors to be a reduction of the prices we pay for their goods, including property and equipment,\nor services, and are recorded as a reduction of the cost of inventory, cost of services, or cost of property and equipment. Volume rebates typically depend on\nreaching minimum purchase thresholds. We evaluate the likelihood of reaching purchase thresholds using past experience and current year forecasts. When\nvolume rebates can be reasonably estimated, we record a portion of the rebate as we make progress towards the purchase threshold.\nFulfillment\nFulfillment costs primarily consist of those costs incurred in operating and staffing our North America and International segments\u2019 fulfillment centers,\nphysical stores, and customer service centers, including facilities and equipment expenses, such as depreciation and amortization, and rent; costs attributable to\nbuying, receiving, inspecting, and warehousing inventories; picking, packaging, and preparing customer orders for shipment; payment processing and related\ntransaction costs, including costs associated with our guarantee for certain seller transactions; responding to inquiries from customers; and supply chain\nmanagement for our manufactured electronic devices. Fulfillment costs also include amounts paid to third parties that assist us in fulfillment and customer\nservice operations.\n43"}


created_at: 2024-06-08 06:19:44
topic: persistent://default/default/c73beabd-7314-4088-9399-3d1c466cffa3
id: ee8b4166-255e-11ef-be8d-0242ac1c000c
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{"source": "dataset/aws-10-k-2023.pdf", "page": 43, "chroma:document": "Table of Contents\nTechnology and Content\nTechnology and content costs include payroll and related expenses for employees involved in the research and development of new and existing products\nand services, development, design, and maintenance of our stores, curation and display of products and services made available in our online stores, and\ninfrastructure costs. Infrastructure costs include servers, networking equipment, and data center related depreciation and amortization, rent, utilities, and other\nexpenses necessary to support AWS and other Amazon businesses. Collectively, these costs reflect the investments we make in order to offer a wide variety of\nproducts and services to our customers, including expenditures related to initiatives to build and deploy innovative and efficient software and electronic devices\nand the development of a satellite network for global broadband service and autonomous vehicles for ride-hailing services. Technology and content costs are\ngenerally expensed as incurred.\nSales and Marketing\nSales and marketing costs include advertising and payroll and related expenses for personnel engaged in marketing and selling activities, including sales\ncommissions related to AWS. We pay commissions to third parties when their customer referrals result in sales. We also participate in cooperative advertising\narrangements with certain of our vendors, and other third parties.\nAdvertising and other promotional costs to market our products and services are expensed as incurred and were $10.9 billion, $16.9 billion, and $20.6\nbillion in 2020, 2021, and 2022.\nGeneral and Administrative\nGeneral and administrative expenses primarily consist of costs for corporate functions, including payroll and related expenses; facilities and equipment\nexpenses, such as depreciation and amortization expense and rent; and professional fees.\nStock-Based Compensation\nCompensation cost for all equity-classified stock awards expected to vest is measured at fair value on the date of grant and recognized over the service\nperiod. The fair value of restricted stock units is determined based on the number of shares granted and the quoted price of our common stock. Such value is\nrecognized as expense over the service period, net of estimated forfeitures, using the accelerated method. The estimated number of stock awards that will\nultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a\ncumulative adjustment in the period estimates are revised. We consider many factors when estimating expected forfeitures, including historical forfeiture\nexperience by grant year and employee level. Additionally, stock-based compensation includes stock appreciation rights that are expected to settle in cash."}


