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CNBC: Amazon owes $22B in future payments related to Whole Foods

Published 03/08/2018, 09:50 AM
© Reuters.  CNBC: Amazon owes $22B in future payments related to Whole Foods
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  • Amazon’s (NASDAQ:AMZN) annual report includes a footnote revealing the company has $22B in additional commitments related to its Whole Foods acquisition. The obligation lasts until 2025.
  • The “unconditional purchase obligations” note includes $24.2B in future payment agreements for 2017. Amazon had $1.6B in obligations before the acquisition and never went above $2B.
  • The money will go towards future food purchases, which experts say shows Amazon’s commitment to growing the business, though the tactic isn’t typical for grocery retailers.
  • Amazon acquired Whole Foods last year for $13B.
  • Amazon shares are up 0.6% to $1,554.27.
  • Previously: Reuters: Amazon meeting to plan direct move into Brazil market (March 7)
  • Now read: Wall Street Breakfast: QE Hints Awaited From ECB


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