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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 2,761,395 $ 1,866,916 $ 1,211,242
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Additions to content assets (11,779,284) (13,916,683) (13,043,437)
Change in content liabilities (757,433) (694,011) 999,880
Amortization of content assets 10,806,912 9,216,247 7,532,088
Depreciation and amortization of property, equipment and intangibles 115,710 103,579 83,157
Stock-based compensation expense 415,180 405,376 320,657
Foreign currency remeasurement loss (gain) on debt 533,278 (45,576) (73,953)
Other non-cash items 293,126 228,230 81,640
Deferred income taxes 70,066 (94,443) (85,520)
Changes in operating assets and liabilities:      
Other current assets (187,623) (252,113) (200,192)
Accounts payable (41,605) 96,063 199,198
Accrued expenses and other liabilities 198,183 157,778 150,422
Deferred revenue 193,247 163,846 142,277
Other non-current assets and liabilities (194,075) (122,531) 2,062
Net cash provided by (used in) operating activities 2,427,077 (2,887,322) (2,680,479)
Cash flows from investing activities:      
Purchases of property and equipment (497,923) (253,035) (173,946)
Change in other assets (7,431) (134,029) (165,174)
Net cash used in investing activities (505,354) (387,064) (339,120)
Cash flows from financing activities:      
Proceeds from issuance of debt 1,009,464 4,469,306 3,961,852
Debt issuance costs (7,559) (36,134) (35,871)
Proceeds from issuance of common stock 235,406 72,490 124,502
Other financing activities 0 0 (1,956)
Net cash provided by financing activities 1,237,311 4,505,662 4,048,527
Effect of exchange rate changes on cash, cash equivalents and restricted cash 36,050 469 (39,682)
Net increase in cash, cash equivalents and restricted cash 3,195,084 1,231,745 989,246
Cash and cash equivalents, beginning of year 5,043,786 3,812,041 2,822,795
Cash, cash equivalents and restricted cash, end of year 8,238,870 5,043,786 3,812,041
Supplemental disclosure:      
Income taxes paid 291,582 400,658 131,069
Interest paid $ 762,904 $ 599,132 $ 375,831