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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:        
Net income $ 270,650 $ 384,349 $ 614,702 $ 674,473
Adjustments to reconcile net income to net cash used in operating activities:        
Additions to streaming content assets (3,325,103) (3,033,721) (6,322,849) (6,020,468)
Change in streaming content liabilities (12,414) 288,474 (27,112) 667,359
Amortization of streaming content assets 2,231,915 1,817,817 4,356,601 3,566,661
Amortization of DVD content assets 7,656 11,154 16,165 22,288
Depreciation and amortization of property, equipment and intangibles 25,496 19,736 49,057 38,777
Stock-based compensation expense 103,848 81,232 205,048 149,627
Other non-cash items 53,039 13,921 90,238 22,130
Foreign currency remeasurement loss (gain) on long-term debt 61,284 (85,410) 3,684 (44,330)
Deferred taxes 35,519 (9,539) 42,146 (31,588)
Changes in operating assets and liabilities:        
Other current assets (24,231) (25,564) (56,307) (81,469)
Accounts payable (2,674) 7,733 (127,141) 81,816
Accrued expenses and other liabilities (26,705) (52,851) 130,942 66,198
Deferred revenue 84,085 23,848 131,878 79,118
Other non-current assets and liabilities (26,119) 40,582 (30,605) 54,412
Net cash used in operating activities (543,754) (518,239) (923,553) (754,996)
Cash flows from investing activities:        
Acquisition of DVD content assets (7,798) (12,552) (16,968) (23,348)
Purchases of property and equipment (39,584) (27,323) (99,965) (64,493)
Change in other assets (2,654) (441) (13,206) (2,227)
Net cash used in investing activities (50,036) (40,316) (130,139) (90,068)
Cash flows from financing activities:        
Proceeds from issuance of debt 2,243,196 1,900,000 2,243,196 1,900,000
Debt issuance costs (18,192) (16,992) (18,192) (16,992)
Proceeds from issuance of common stock 21,896 26,936 44,868 83,271
Other financing activities 0 (532) 0 (853)
Net cash provided by financing activities 2,246,900 1,909,412 2,269,872 1,965,426
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 4,998 (36,340) (16) (29,163)
Net increase in cash, cash equivalents, and restricted cash 1,658,108 1,314,517 1,216,164 1,091,199
Cash, cash equivalents and restricted cash at beginning of period 3,370,097 2,599,477 3,812,041 2,822,795
Cash, cash equivalents and restricted cash at end of period $ 5,028,205 $ 3,913,994 $ 5,028,205 $ 3,913,994