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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:        
Net income $ 1,440,951 $ 1,353,013 $ 3,038,398 $ 3,059,728
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Additions to content assets (4,687,011) (4,096,750) (8,271,175) (7,381,326)
Change in content liabilities 191,228 (312,208) (155,921) (578,248)
Amortization of content assets 3,261,348 2,806,803 6,427,713 5,525,999
Depreciation and amortization of property, equipment and intangibles 83,505 38,434 158,107 74,175
Stock-based compensation expense 150,392 101,583 269,601 208,813
Foreign currency remeasurement loss (gain) on debt (304,513) 63,074 (466,334) (190,256)
Other non-cash items 205,374 108,103 307,342 180,760
Deferred income taxes (115,820) 51,127 (184,726) 210,860
Changes in operating assets and liabilities:        
Other current assets 123,399 (52,373) 164,556 (273,928)
Accounts payable (122,048) 72,313 (337,492) (65,000)
Accrued expenses and other liabilities (238,719) (171,430) 112,044 6,467
Deferred revenue (10,376) 47,093 6,367 69,372
Other non-current assets and liabilities 125,040 (72,543) (42,891) (133,911)
Net cash provided by (used in) operating activities 102,750 (63,761) 1,025,589 713,505
Cash flows from investing activities:        
Purchases of property and equipment (90,018) (110,278) (211,176) (191,279)
Change in other assets 0 (1,000) 0 (5,615)
Acquisitions (68,876) 0 (193,397) 0
Net cash used in investing activities (158,894) (111,278) (404,573) (196,894)
Cash flows from financing activities:        
Repayments of debt 0 0 (700,000) (500,000)
Proceeds from issuance of common stock 11,250 19,749 24,928 67,820
Repurchases of common stock 0 (500,022) 0 (500,022)
Net cash provided by (used in) financing activities 11,250 (480,273) (675,072) (932,202)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (145,198) 23,477 (156,646) (18,661)
Net decrease in cash, cash equivalents and restricted cash (190,092) (631,835) (210,702) (434,252)
Cash, cash equivalents and restricted cash at beginning of period 6,034,501 8,436,453 6,055,111 8,238,870
Cash, cash equivalents and restricted cash at end of period $ 5,844,409 $ 7,804,618 $ 5,844,409 $ 7,804,618