Amazon.com, Inc. (AMZN) Message Board

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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 228.44

+0.5%

3:59 PM EST

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To: GST who wrote (137539)	1/22/2002 11:01:17 PM
From: Oeconomicus	Read Replies (2) of 164684

Well, there ya' have it. Had it been realized gains on investments they sold or realized gains on retirement of the debt, I'd give 'em credit, but this is akin, IMO, to marking up an investment to reflect unrealized gains. Technically though, it is GAAP (as I understand the rules even if I don't agree with them). Now, if the foreign currency obligation was designated as a hedge of an investment in AMZN's foreign operations (Euro debt would effectively hedge Euro assets), then this would not have hit the P&L. This also raises the question of whether any write-down was taken on AMZN's investments in foreign operations for the same exchange rate changes. Hmm. Bob

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