XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:        
Net income $ 720,196 $ 270,650 $ 1,429,263 $ 614,702
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Additions to content assets (2,510,782) (3,325,103) (5,805,057) (6,322,849)
Change in content liabilities (108,432) (12,414) 150,513 (27,112)
Amortization of content assets 2,607,159 2,231,915 5,090,544 4,356,601
Depreciation and amortization of property, equipment and intangibles 26,661 25,496 55,178 49,057
Stock-based compensation expense 104,210 103,848 201,229 205,048
Other non-cash items 70,301 60,695 135,749 106,403
Foreign currency remeasurement loss on debt 119,161 61,284 26,101 3,684
Deferred taxes 223,308 35,519 269,927 42,146
Changes in operating assets and liabilities:        
Other current assets 3,066 (24,231) (124,287) (56,307)
Accounts payable (112,027) (2,674) (261,180) (127,141)
Accrued expenses and other liabilities (105,450) (26,705) 108,741 130,942
Deferred revenue 42,508 84,085 104,516 131,878
Other non-current assets and liabilities (38,803) (26,119) (80,249) (30,605)
Net cash provided by (used in) operating activities 1,041,076 (543,754) 1,300,988 (923,553)
Cash flows from investing activities:        
Purchases of property and equipment (141,741) (39,584) (239,756) (99,965)
Change in other assets (260) (10,452) (548) (30,174)
Net cash used in investing activities (142,001) (50,036) (240,304) (130,139)
Cash flows from financing activities:        
Proceeds from issuance of debt 1,009,464 2,243,196 1,009,464 2,243,196
Debt issuance costs (7,559) (18,192) (7,559) (18,192)
Proceeds from issuance of common stock 89,060 21,896 132,754 44,868
Net cash provided by financing activities 1,090,965 2,246,900 1,134,659 2,269,872
Effect of exchange rate changes on cash, cash equivalents and restricted cash 11,819 4,998 (59,083) (16)
Net increase in cash, cash equivalents and restricted cash 2,001,859 1,658,108 2,136,260 1,216,164
Cash, cash equivalents and restricted cash at beginning of period 5,178,187 3,370,097 5,043,786 3,812,041
Cash, cash equivalents and restricted cash at end of period $ 7,180,046 $ 5,028,205 $ 7,180,046 $ 5,028,205