XML 17 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:        
Net income $ 129,590 $ 51,517 $ 373,412 $ 119,930
Adjustments to reconcile net income to net cash used in operating activities:        
Additions to streaming content assets (2,315,017) (2,442,080) (7,328,104) (6,550,445)
Change in streaming content liabilities (34,587) 529,885 846,560 1,674,125
Amortization of streaming content assets 1,627,477 1,224,108 4,483,954 3,457,990
Amortization of DVD content assets 13,259 19,284 48,368 59,746
Depreciation and amortization of property, equipment and intangibles 19,238 14,410 52,838 43,339
Stock-based compensation expense 44,763 43,495 133,679 130,029
Excess tax benefits from stock-based compensation 0 (12,762) 0 (37,401)
Other non-cash items 9,896 9,682 43,081 31,479
Foreign currency remeasurement loss on long-term debt 50,830 0 115,050 0
Deferred taxes (57,090) 14,338 (104,556) (20,141)
Changes in operating assets and liabilities:        
Other current assets (41,399) 10,250 (147,000) 48,649
Accounts payable 34,029 27,810 10,590 16,707
Accrued expenses 74,006 28,957 119,506 72,288
Deferred revenue 32,947 30,230 94,777 80,485
Other non-current assets and liabilities (7,549) (11,065) (40,146) (43,604)
Net cash used in operating activities (419,607) (461,941) (1,297,991) (916,824)
Cash flows from investing activities:        
Acquisitions of DVD content assets (10,217) (17,249) (43,213) (58,380)
Purchases of property and equipment (33,963) (27,366) (151,717) (46,605)
Change in other assets (1,107) 125 (2,940) 676
Purchases of short-term investments (2,799) (128,136) (74,819) (181,590)
Proceeds from sale of short-term investments 250,278 171,747 320,154 198,687
Proceeds from maturities of short-term investments 0 24,855 22,705 112,555
Net cash provided by investing activities 202,192 23,976 70,170 25,343
Cash flows from financing activities:        
Proceeds from issuance of debt 0 0 1,420,510 0
Issuance costs (312) 0 (15,325) 0
Proceeds from issuance of common stock 34,669 3,819 73,673 11,587
Excess tax benefits from stock-based compensation 0 12,762 0 37,401
Other financing activities 65 58 189 170
Net cash provided by financing activities 34,422 16,639 1,479,047 49,158
Effect of exchange rate changes on cash and cash equivalents 10,685 (441) 27,667 2,151
Net increase (decrease) in cash and cash equivalents (172,308) (421,767) 278,893 (840,172)
Cash and cash equivalents, beginning of period 1,918,777 1,390,925 1,467,576 1,809,330
Cash and cash equivalents, end of period 1,746,469 969,158 1,746,469 969,158
Supplemental disclosure:        
Change in investing activities included in liabilities $ (6,876) $ 17,243 $ (27,041) $ 15,486