maybe. Hide is relative term. Especially a business with as much real estate as Amazon. You can shift profits or losses into real estate holding entities, You can manipulate who gets charged what on property expenses and which div leases to which till the cows come home. Again, I'm absolutely not making any claims about Amazon here except to defend my skepticism that they could get away with a lot before anyone caught it . Standard reports and SEC filings just don't go into that level of detail at the individual facility or division level. I'll hold that almost any large corp can do a lot of things that no-one would notice or be able to figure out, and more to the point would be perfectly legal/acceptable but still obscure an accurate interdivisional reading. And in one important sense that's perfectly fair; an investor can only buy an interest in the whole company anyway.