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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 1,706,715 $ 709,067
Adjustments to reconcile net income to net cash provided by operating activities:    
Additions to content assets (3,284,576) (3,294,275)
Change in content liabilities (266,040) 258,945
Amortization of content assets 2,719,196 2,483,385
Depreciation and amortization of property, equipment and intangibles 35,741 28,517
Stock-based compensation expense 107,230 97,019
Foreign currency remeasurement gain on debt (253,330) (93,060)
Other non-cash items 72,657 65,448
Deferred income taxes 159,733 46,619
Changes in operating assets and liabilities:    
Other current assets (221,555) (127,353)
Accounts payable (137,313) (149,153)
Accrued expenses and other liabilities 177,897 214,191
Deferred revenue 22,279 62,008
Other non-current assets and liabilities (61,368) (41,446)
Net cash provided by operating activities 777,266 259,912
Cash flows from investing activities:    
Purchases of property and equipment (81,001) (98,015)
Change in other assets (4,615) (288)
Net cash used in investing activities (85,616) (98,303)
Cash flows from financing activities:    
Repayments of debt (500,000) 0
Proceeds from issuance of common stock 48,071 43,694
Net cash provided by (used in) financing activities (451,929) 43,694
Effect of exchange rate changes on cash, cash equivalents and restricted cash (42,138) (70,902)
Net increase in cash, cash equivalents and restricted cash 197,583 134,401
Cash, cash equivalents and restricted cash at beginning of period 8,238,870 5,043,786
Cash, cash equivalents and restricted cash at end of period $ 8,436,453 $ 5,178,187