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Did I get this right? Amazon spent $700e6 three years ago and are now able to declare a $7.6e9 loss?
by guenthert 5y ago
Did I get this right? Amazon spent $700e6 three years ago and are now able to declare a $7.6e9 loss?
- hajile 5y agoWell, they no doubt counted it as profit before, so it’s only fitting.
- JumpCrisscross 5y ago> Did I get this right? Amazon spent $700e6 three years ago and are now able to declare a $7.6e9 loss? Companies prepare different books for the IRS and for investors. Amazon told investors their Rivian stake was worth $15.6bn at the end of last year [1]. They now have to revise that down. For the IRS, they probably held it at cost basis. [1] https://www.sec.gov/ix?doc=/Archives/edgar/data/0001018724/000101872422000005/amzn-20211231.htm https://www.sec.gov/ix?doc=/Archives/edgar/data/0001018724/0... page 44