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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:        
Net income $ 1,398,242 $ 1,449,071 $ 4,436,640 $ 4,508,799
Adjustments to reconcile net income to net cash provided by operating activities:        
Additions to content assets (4,582,671) (4,666,237) (12,853,846) (12,047,563)
Change in content liabilities 60,867 (29,246) (95,054) (607,494)
Amortization of content assets 3,653,592 2,963,051 10,081,305 8,489,050
Depreciation and amortization of property, equipment and intangibles 85,188 70,253 243,295 144,428
Stock-based compensation expense 152,062 95,078 421,663 303,891
Foreign currency remeasurement gain on debt (348,458) (136,488) (814,792) (326,744)
Other non-cash items 102,513 102,211 409,855 282,971
Deferred income taxes (57,797) 50,967 (242,523) 261,827
Changes in operating assets and liabilities:        
Other current assets (120,071) (95,145) 44,485 (369,073)
Accounts payable 53,875 24,836 (283,617) (40,164)
Accrued expenses and other liabilities 212,072 269,774 324,116 276,241
Deferred revenue (48,420) (4,732) (42,053) 64,640
Other non-current assets and liabilities (4,184) (11,014) (47,075) (144,925)
Net cash provided by operating activities 556,810 82,379 1,582,399 795,884
Cash flows from investing activities:        
Purchases of property and equipment (84,960) (167,327) (296,136) (358,606)
Change in other assets 0 (21,304) 0 (26,919)
Acquisitions 0 0 (193,397) 0
Net cash used in investing activities (84,960) (188,631) (489,533) (385,525)
Cash flows from financing activities:        
Repayments of debt 0 0 (700,000) (500,000)
Proceeds from issuance of common stock 4,113 18,445 29,041 86,265
Repurchases of common stock 0 (100,000) 0 (600,022)
Net cash provided by (used in) financing activities 4,113 (81,555) (670,959) (1,013,757)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (180,058) (63,843) (336,704) (82,504)
Net increase (decrease) in cash, cash equivalents and restricted cash 295,905 (251,650) 85,203 (685,902)
Cash, cash equivalents and restricted cash at beginning of period 5,844,409 7,804,618 6,055,111 8,238,870
Cash, cash equivalents and restricted cash at end of period $ 6,140,314 $ 7,552,968 $ 6,140,314 $ 7,552,968