• Lex on Amazon

    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...

    Read more