Lex on AmazonFriday 20 February 2015
I am rather puzzled by the Lex column today which has produced a piece on Amazon's free cash flow. The Lex hypothesis is that Amazon's free cash flow is after capex but does not include capital lease repayments.
Now I freely admit that I have not looked into this, and it has been a while since I looked at an Amazon 10-K, but I am not sure that everyone understands the problem.
Assets purchased under capital leases get added to the balance sheet in the same way as assets purchased for...