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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:        
Net income $ 1,353,013 $ 720,196 $ 3,059,728 $ 1,429,263
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Additions to content assets (4,096,750) (2,510,782) (7,381,326) (5,805,057)
Change in content liabilities (312,208) (108,432) (578,248) 150,513
Amortization of content assets 2,806,803 2,607,159 5,525,999 5,090,544
Depreciation and amortization of property, equipment and intangibles 38,434 26,661 74,175 55,178
Stock-based compensation expense 101,583 104,210 208,813 201,229
Foreign currency remeasurement loss (gain) on debt 63,074 119,161 (190,256) 26,101
Other non-cash items 108,103 70,301 180,760 135,749
Deferred income taxes 51,127 223,308 210,860 269,927
Changes in operating assets and liabilities:        
Other current assets (52,373) 3,066 (273,928) (124,287)
Accounts payable 72,313 (112,027) (65,000) (261,180)
Accrued expenses and other liabilities (171,430) (105,450) 6,467 108,741
Deferred revenue 47,093 42,508 69,372 104,516
Other non-current assets and liabilities (72,543) (38,803) (133,911) (80,249)
Net cash provided by (used in) operating activities (63,761) 1,041,076 713,505 1,300,988
Cash flows from investing activities:        
Purchases of property and equipment (110,278) (141,741) (191,279) (239,756)
Change in other assets (1,000) (260) (5,615) (548)
Net cash used in investing activities (111,278) (142,001) (196,894) (240,304)
Cash flows from financing activities:        
Proceeds from issuance of debt 0 1,009,464 0 1,009,464
Debt issuance costs 0 (7,559) 0 (7,559)
Repayments of debt 0 0 (500,000) 0
Proceeds from issuance of common stock 19,749 89,060 67,820 132,754
Repurchases of common stock (500,022) 0 (500,022) 0
Net cash provided by (used in) financing activities (480,273) 1,090,965 (932,202) 1,134,659
Effect of exchange rate changes on cash, cash equivalents and restricted cash 23,477 11,819 (18,661) (59,083)
Net increase (decrease) in cash, cash equivalents and restricted cash (631,835) 2,001,859 (434,252) 2,136,260
Cash, cash equivalents and restricted cash at beginning of period 8,436,453 5,178,187 8,238,870 5,043,786
Cash, cash equivalents and restricted cash at end of period $ 7,804,618 $ 7,180,046 $ 7,804,618 $ 7,180,046