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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:        
Net income $ 1,487,610 $ 1,440,951 $ 2,792,730 $ 3,038,398
Adjustments to reconcile net income to net cash provided by operating activities:        
Additions to content assets (3,683,007) (4,687,011) (6,141,673) (8,271,175)
Change in content liabilities 46,119 191,228 (308,672) (155,921)
Amortization of content assets 3,410,021 3,261,348 6,870,005 6,427,713
Depreciation and amortization of property, equipment and intangibles 89,385 83,505 179,720 158,107
Stock-based compensation expense 78,030 150,392 177,129 269,601
Foreign currency remeasurement loss (gain) on debt 28,952 (304,513) 109,603 (466,334)
Other non-cash items 121,483 205,374 241,491 307,342
Deferred income taxes (103,172) (115,820) (201,954) (184,726)
Changes in operating assets and liabilities:        
Other current assets (183,049) 123,399 (271,571) 164,556
Accounts payable 38,332 (122,048) (51,336) (337,492)
Accrued expenses and other liabilities 177,831 (238,719) 363,130 112,044
Deferred revenue 49,647 (10,376) 47,257 6,367
Other non-current assets and liabilities (117,950) 125,040 (186,887) (42,891)
Net cash provided by operating activities 1,440,232 102,750 3,618,972 1,025,589
Cash flows from investing activities:        
Purchases of property and equipment (100,972) (90,018) (162,991) (211,176)
Acquisitions 0 (68,876) 0 (193,397)
Purchases of short-term investments (303,228) 0 (504,862) 0
Proceeds from maturities of short-term investments 501,937 0 501,937 0
Net cash provided by (used in) investing activities 97,737 (158,894) (165,916) (404,573)
Cash flows from financing activities:        
Repayments of debt 0 0 0 (700,000)
Proceeds from issuance of common stock 34,717 11,250 60,745 24,928
Repurchases of common stock (645,146) 0 (1,045,247) 0
Other financing activities (38,920) 0 (38,920) 0
Net cash provided by (used in) financing activities (649,349) 11,250 (1,023,422) (675,072)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 39,626 (145,198) 66,049 (156,646)
Net increase (decrease) in cash, cash equivalents and restricted cash 928,246 (190,092) 2,495,683 (210,702)
Cash, cash equivalents and restricted cash at beginning of period 6,738,019 6,034,501 5,170,582 6,055,111
Cash, cash equivalents and restricted cash at end of period $ 7,666,265 $ 5,844,409 $ 7,666,265 $ 5,844,409