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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:        
Net income $ 384,349 $ 65,600 $ 674,473 $ 243,822
Adjustments to reconcile net income to net cash used in operating activities:        
Additions to streaming content assets (3,033,721) (2,664,421) (6,020,468) (5,013,087)
Change in streaming content liabilities 288,474 514,890 667,359 881,147
Amortization of streaming content assets 1,817,817 1,550,794 3,566,661 2,856,477
Amortization of DVD content assets 11,154 16,511 22,288 35,109
Depreciation and amortization of property, equipment and intangibles 19,736 18,551 38,777 33,600
Stock-based compensation expense 81,232 44,028 149,627 88,916
Other non-cash items 13,921 11,519 22,130 33,185
Foreign currency remeasurement loss (gain) on long-term debt (85,410) 64,220 (44,330) 64,220
Deferred taxes (9,539) (20,702) (31,588) (47,466)
Changes in operating assets and liabilities:        
Other current assets (25,564) (80,199) (81,469) (105,601)
Accounts payable 7,733 (12,439) 81,816 (23,439)
Accrued expenses (52,851) (48,042) 66,198 45,500
Deferred revenue 23,848 46,609 79,118 61,830
Other non-current assets and liabilities 40,582 (41,447) 54,412 (32,597)
Net cash used in operating activities (518,239) (534,528) (754,996) (878,384)
Cash flows from investing activities:        
Acquisition of DVD content assets (12,552) (7,624) (23,348) (32,996)
Purchases of property and equipment (27,323) (65,231) (64,493) (117,754)
Change in other assets (441) (1,064) (2,227) (1,833)
Purchases of short-term investments 0 (14,246) 0 (72,020)
Proceeds from sale of short-term investments 0 14,128 0 69,876
Proceeds from maturities of short-term investments 0 17,605 0 22,705
Net cash used in investing activities (40,316) (56,432) (90,068) (132,022)
Cash flows from financing activities:        
Proceeds from issuance of debt 1,900,000 1,420,510 1,900,000 1,420,510
Debt issuance costs (16,992) (15,013) (16,992) (15,013)
Proceeds from issuance of common stock 26,936 14,826 83,271 39,004
Other financing activities (532) 63 (853) 124
Net cash provided by financing activities 1,909,412 1,420,386 1,965,426 1,444,625
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (36,340) 11,527 (29,163) 16,982
Net increase in cash, cash equivalents, and restricted cash 1,314,517 840,953 1,091,199 451,201
Cash, cash equivalents, and restricted cash at beginning of period 2,599,477 1,077,824 2,822,795 1,467,576
Cash, cash equivalents, and restricted cash at end of period 3,913,994 1,918,777 3,913,994 1,918,777
Supplemental disclosure:        
Increase (decrease) in investing activities included in liabilities $ 725 $ (3,493) $ 4,642 $ (20,165)