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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:        
Net income $ 665,244 $ 402,835 $ 1,279,946 $ 1,077,308
Adjustments to reconcile net income to net cash used in operating activities:        
Additions to streaming content assets (3,648,292) (3,238,717) (9,971,141) (9,259,185)
Change in streaming content liabilities (95,548) 65,868 (122,660) 733,227
Amortization of streaming content assets 2,279,977 1,911,767 6,636,578 5,478,428
Amortization of DVD content assets 6,654 9,959 22,819 32,247
Depreciation and amortization of property, equipment and intangibles 26,704 21,161 75,761 59,938
Stock-based compensation expense 100,262 82,316 305,310 231,943
Other non-cash items 51,280 8,962 141,518 31,092
Foreign currency remeasurement gain on long-term debt (171,360) (7,670) (167,676) (52,000)
Deferred taxes 52,105 (39,453) 94,251 (71,041)
Changes in operating assets and liabilities:        
Other current assets 145 (30,364) (56,162) (111,833)
Accounts payable (7,643) (4,449) (134,784) 77,367
Accrued expenses and other liabilities 260,872 134,000 391,814 200,198
Deferred revenue 22,729 18,983 154,607 98,101
Other non-current assets and liabilities (44,923) (25,609) (75,528) 28,803
Net cash used in operating activities (501,794) (690,411) (1,425,347) (1,445,407)
Cash flows from investing activities:        
Acquisition of DVD content assets (4,634) (7,731) (21,602) (31,079)
Purchases of property and equipment (45,333) (39,333) (145,298) (103,826)
Change in other assets 613 (121,630) (12,593) (123,857)
Net cash used in investing activities (49,354) (168,694) (179,493) (258,762)
Cash flows from financing activities:        
Proceeds from issuance of debt 0 0 2,243,196 1,900,000
Debt issuance costs 0 0 (18,192) (16,992)
Proceeds from issuance of common stock 11,989 29,781 56,857 113,052
Other financing activities 0 (544) 0 (1,397)
Net cash provided by financing activities 11,989 29,237 2,281,861 1,994,663
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (29,325) (5,562) (29,341) (34,725)
Net increase (decrease) in cash, cash equivalents, and restricted cash (568,484) (835,430) 647,680 255,769
Cash, cash equivalents and restricted cash at beginning of period 5,028,205 3,913,994 3,812,041 2,822,795
Cash, cash equivalents and restricted cash at end of period $ 4,459,721 $ 3,078,564 $ 4,459,721 $ 3,078,564