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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 5,407,990 $ 4,491,924 $ 5,116,228
Adjustments to reconcile net income to net cash provided by operating activities:      
Additions to content assets (12,554,703) (16,839,038) (17,702,202)
Change in content liabilities (585,602) 179,310 232,898
Amortization of content assets 14,197,437 14,026,132 12,230,367
Depreciation and amortization of property, equipment and intangibles 356,947 336,682 208,412
Stock-based compensation expense 339,368 575,452 403,220
Foreign currency remeasurement loss (gain) on debt 176,296 (353,111) (430,661)
Other non-cash items 512,075 533,543 376,777
Deferred income taxes (459,359) (166,550) 199,548
Changes in operating assets and liabilities:      
Other current assets (181,003) (353,834) (369,681)
Accounts payable 93,502 (158,543) 145,115
Accrued expenses and other liabilities 103,565 (55,513) 180,338
Deferred revenue 178,708 27,356 91,350
Other non-current assets and liabilities (310,920) (217,553) (289,099)
Net cash provided by operating activities 7,274,301 2,026,257 392,610
Cash flows from investing activities:      
Purchases of property and equipment (348,552) (407,729) (524,585)
Change in other assets 0 0 (26,919)
Acquisitions 0 (757,387) (788,349)
Purchases of short-term investments (504,862) (911,276) 0
Proceeds from maturities of short-term investments 1,395,165 0 0
Net cash provided by (used in) investing activities 541,751 (2,076,392) (1,339,853)
Cash flows from financing activities:      
Repayments of debt 0 (700,000) (500,000)
Proceeds from issuance of common stock 169,990 35,746 174,414
Repurchases of common stock (6,045,347) 0 (600,022)
Taxes paid related to net share settlement of equity awards 0 0 (224,168)
Other financing activities (75,446) 0 0
Net cash used in financing activities (5,950,803) (664,254) (1,149,776)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 82,684 (170,140) (86,740)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,947,933 (884,529) (2,183,759)
Cash, cash equivalents and restricted cash, beginning of year 5,170,582 6,055,111 8,238,870
Cash, cash equivalents and restricted cash, end of year 7,118,515 5,170,582 6,055,111
Supplemental disclosure:      
Income taxes paid 1,154,973 811,720 509,265
Interest paid $ 684,504 $ 701,693 $ 763,432