XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:        
Net income $ 789,976 $ 665,244 $ 2,219,239 $ 1,279,946
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Additions to content assets (2,653,886) (3,648,292) (8,458,943) (9,971,141)
Change in content liabilities (379,458) (95,548) (228,945) (122,660)
Amortization of content assets 2,733,743 2,279,977 7,824,287 6,636,578
Depreciation and amortization of property, equipment and intangibles 28,589 26,704 83,767 75,761
Stock-based compensation expense 106,357 100,262 307,586 305,310
Other non-cash items 83,851 57,934 219,600 164,337
Foreign currency remeasurement loss (gain) on debt 249,194 (171,360) 275,295 (167,676)
Deferred taxes (40,277) 52,105 229,650 94,251
Changes in operating assets and liabilities:        
Other current assets (22,974) 145 (147,261) (56,162)
Accounts payable 111,677 (7,643) (149,503) (134,784)
Accrued expenses and other liabilities 266,027 260,872 374,768 391,814
Deferred revenue 10,941 22,729 115,457 154,607
Other non-current assets and liabilities (19,999) (44,923) (100,248) (75,528)
Net cash provided by (used in) operating activities 1,263,761 (501,794) 2,564,749 (1,425,347)
Cash flows from investing activities:        
Purchases of property and equipment (109,811) (45,333) (349,567) (145,298)
Change in other assets (8,840) (4,021) (9,388) (34,195)
Net cash used in investing activities (118,651) (49,354) (358,955) (179,493)
Cash flows from financing activities:        
Proceeds from issuance of debt 0 0 1,009,464 2,243,196
Debt issuance costs 0 0 (7,559) (18,192)
Proceeds from issuance of common stock 68,665 11,989 201,419 56,857
Net cash provided by financing activities 68,665 11,989 1,203,324 2,281,861
Effect of exchange rate changes on cash, cash equivalents and restricted cash 28,459 (29,325) (30,624) (29,341)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,242,234 (568,484) 3,378,494 647,680
Cash, cash equivalents and restricted cash at beginning of period 7,180,046 5,028,205 5,043,786 3,812,041
Cash, cash equivalents and restricted cash at end of period $ 8,422,280 $ 4,459,721 $ 8,422,280 $ 4,459,721