XML 28 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:        
Net income $ 6,164 $ 68,214 $ 1,580 $ 128,447
Adjustments to reconcile net income to net cash provided by operating activities:        
Additions to streaming content library (374,252) (612,595) (1,139,145) (804,902)
Change in streaming content liabilities (39,947) 422,080 357,606 506,128
Amortization of streaming content library 375,997 144,466 715,733 230,403
Amortization of DVD content library 16,304 24,000 36,350 50,990
Depreciation and amortization of property, equipment and intangibles 11,047 10,182 22,378 20,008
Stock-based compensation expense 18,450 15,536 37,782 27,800
Excess tax benefits from stock-based compensation (307) (17,868) (4,062) (33,522)
Other non-cash items (1,579) (802) (3,098) (1,727)
Deferred taxes 0 (3,927) (10,843) (8,909)
Changes in operating assets and liabilities:        
Prepaid content 4,503 14,787 7,497 2,407
Other current assets (8,077) 4,015 3,664 13,513
Accounts payable 601 (4,231) (1,155) 11,001
Accrued expenses 6,854 15,459 8,637 35,752
Deferred revenue 2,188 3,892 3,994 19,754
Other non-current assets and liabilities 1,746 3,184 1,883 5,572
Net cash provided by operating activities 19,692 86,392 38,801 202,715
Cash flows from investing activities:        
Acquisitions of DVD content library (8,012) (19,065) (21,540) (41,184)
Purchases of short-term investments (63,303) (40,597) (362,770) (92,863)
Proceeds from sale of short-term investments 48,173 16,510 220,508 31,471
Proceeds from maturities of short-term investments 12,715 15,985 20,990 16,635
Purchases of property and equipment (3,644) (8,626) (8,410) (24,946)
Other assets 3,132 844 4,466 2,263
Net cash used in investing activities (10,939) (34,949) (146,756) (108,624)
Cash flows from financing activities:        
Proceeds from issuance of common stock upon exercise of options 524 7,418 1,748 14,180
Financing costs (371) 0 (759) 0
Repurchases of common stock 0 (51,421) 0 (160,064)
Excess tax benefits from stock-based compensation 307 17,868 4,062 33,522
Principal payments of lease financing obligations (577) (520) (1,136) (1,021)
Net cash provided by (used in) financing activities (117) (26,655) 3,915 (113,383)
Effect of exchange rate changes on cash and cash equivalents (2,377) 0 (1,762) 0
Net increase (decrease) in cash and cash equivalents 6,259 24,788 (105,802) (19,292)
Cash and cash equivalents, beginning of period 395,992 150,419 508,053 194,499
Cash and cash equivalents, end of period $ 402,251 $ 175,207 $ 402,251 $ 175,207