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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 709,067 $ 344,052
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Additions to content assets (3,294,275) (2,997,746)
Change in content liabilities 258,945 (14,698)
Amortization of content assets 2,483,385 2,124,686
Depreciation and amortization of property, equipment and intangibles 28,517 23,561
Stock-based compensation expense 97,019 101,200
Other non-cash items 65,448 45,708
Foreign currency remeasurement gain on debt (93,060) (57,600)
Deferred taxes 46,619 6,627
Changes in operating assets and liabilities:    
Other current assets (127,353) (32,076)
Accounts payable (149,153) (124,467)
Accrued expenses and other liabilities 214,191 157,647
Deferred revenue 62,008 47,793
Other non-current assets and liabilities (41,446) (4,486)
Net cash provided by (used in) operating activities 259,912 (379,799)
Cash flows from investing activities:    
Purchases of property and equipment (98,015) (60,381)
Change in other assets (288) (19,722)
Net cash used in investing activities (98,303) (80,103)
Cash flows from financing activities:    
Proceeds from issuance of common stock 43,694 22,972
Net cash provided by financing activities 43,694 22,972
Effect of exchange rate changes on cash, cash equivalents and restricted cash (70,902) (5,014)
Net increase (decrease) in cash, cash equivalents and restricted cash 134,401 (441,944)
Cash, cash equivalents and restricted cash at beginning of period 5,043,786 3,812,041
Cash, cash equivalents and restricted cash at end of period $ 5,178,187 $ 3,370,097