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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 1,866,916 $ 1,211,242 $ 558,929
Adjustments to reconcile net income to net cash used in operating activities:      
Additions to streaming content assets (13,916,683) (13,043,437) (9,805,763)
Change in streaming content liabilities (694,011) 999,880 900,006
Amortization of streaming content assets 9,216,247 7,532,088 6,197,817
Depreciation and amortization of property, equipment and intangibles 103,579 83,157 71,911
Stock-based compensation expense 405,376 320,657 182,209
Other non-cash items 228,230 81,640 117,864
Foreign currency remeasurement loss (gain) on long-term debt (45,576) (73,953) 140,790
Deferred taxes (94,443) (85,520) (208,688)
Changes in operating assets and liabilities:      
Other current assets (252,113) (200,192) (234,090)
Accounts payable 96,063 199,198 74,559
Accrued expenses and other liabilities 157,778 150,422 114,337
Deferred revenue 163,846 142,277 177,974
Other non-current assets and liabilities (122,531) 2,062 (73,803)
Net cash used in operating activities (2,887,322) (2,680,479) (1,785,948)
Cash flows from investing activities:      
Purchases of property and equipment (253,035) (173,946) (173,302)
Change in other assets (134,029) (165,174) (60,409)
Purchases of short-term investments 0 0 (74,819)
Proceeds from sale of short-term investments 0 0 320,154
Proceeds from maturities of short-term investments 0 0 22,705
Net cash provided by (used in) investing activities (387,064) (339,120) 34,329
Cash flows from financing activities:      
Proceeds from issuance of debt 4,469,306 3,961,852 3,020,510
Debt issuance costs (36,134) (35,871) (32,153)
Proceeds from issuance of common stock 72,490 124,502 88,378
Other financing activities 0 (1,956) 255
Net cash provided by financing activities 4,505,662 4,048,527 3,076,990
Effect of exchange rate changes on cash, cash equivalents and restricted cash 469 (39,682) 29,848
Net increase in cash, cash equivalents and restricted cash 1,231,745 989,246 1,355,219
Cash and cash equivalents, beginning of year 3,812,041 2,822,795 1,467,576
Cash, cash equivalents and restricted cash, end of year 5,043,786 3,812,041 2,822,795
Supplemental disclosure:      
Income taxes paid 400,658 131,069 113,591
Interest paid $ 599,132 $ 375,831 $ 213,313