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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:        
Net income $ 40,755 $ 26,335 $ 68,413 $ 50,031
Adjustments to reconcile net income to net cash used in operating activities:        
Additions to streaming content assets (1,791,766) (1,276,643) (4,108,365) (2,916,860)
Change in streaming content liabilities 238,517 191,154 1,144,240 817,479
Amortization of streaming content assets 1,175,361 822,600 2,233,882 1,572,118
Amortization of DVD content assets 20,021 20,813 40,462 41,998
Depreciation and amortization of property, equipment and intangibles 14,131 15,581 28,929 30,748
Stock-based compensation expense 44,112 28,590 86,534 56,031
Excess tax benefits from stock-based compensation (13,323) (39,427) (24,639) (68,428)
Other non-cash items 9,040 6,682 21,797 12,988
Deferred taxes (17,876) (4,232) (34,479) (41,274)
Changes in operating assets and liabilities:        
Other current assets 24,091 (36,648) 38,399 14,753
Accounts payable 8,795 6,447 (11,103) (4,178)
Accrued expenses 2,099 41,624 43,331 77,546
Deferred revenue 22,753 16,414 50,255 27,168
Other non-current assets and liabilities (3,003) (633) (32,539) 21,155
Net cash used in operating activities (226,293) (181,343) (454,883) (308,725)
Cash flows from investing activities:        
Acquisition of DVD content assets (17,924) (19,786) (41,131) (42,692)
Purchases of property and equipment (10,814) (27,538) (19,239) (40,574)
Change in other assets 907 (639) 551 (414)
Purchases of short-term investments (18,492) (67,949) (53,454) (158,889)
Proceeds from sale of short-term investments 18,752 48,412 26,940 100,360
Proceeds from maturities of short-term investments 24,675 19,170 87,700 51,057
Net cash (used in) provided by investing activities (2,896) (48,330) 1,367 (91,152)
Cash flows from financing activities:        
Proceeds from issuance of common stock 4,232 23,804 7,768 34,720
Proceeds from issuance of debt 0 0 0 1,500,000
Issuance costs 0 (397) 0 (17,629)
Excess tax benefits from stock-based compensation 13,323 39,427 24,639 68,428
Other financing activities 57 (287) 112 (538)
Net cash provided by financing activities 17,612 62,547 32,519 1,584,981
Effect of exchange rate changes on cash and cash equivalents (2,742) 6,221 2,592 (4,840)
Net (decrease) increase in cash and cash equivalents (214,319) (160,905) (418,405) 1,180,264
Cash and cash equivalents, beginning of period 1,605,244 2,454,777 1,809,330 1,113,608
Cash and cash equivalents, end of period $ 1,390,925 $ 2,293,872 $ 1,390,925 $ 2,293,872