XML 20 R5.htm IDEA: XBRL DOCUMENT v3.24.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 8,711,631 $ 5,407,990 $ 4,491,924
Adjustments to reconcile net income to net cash provided by operating activities:      
Additions to content assets (16,223,617) (12,554,703) (16,839,038)
Change in content liabilities (779,135) (585,602) 179,310
Amortization of content assets 15,301,517 14,197,437 14,026,132
Depreciation and amortization of property, equipment and intangibles 328,914 356,947 336,682
Stock-based compensation expense 272,588 339,368 575,452
Foreign currency remeasurement loss (gain) on debt (121,539) 176,296 (353,111)
Other non-cash items 494,778 512,075 533,543
Deferred income taxes (590,698) (459,359) (166,550)
Changes in operating assets and liabilities:      
Other current assets 22,180 (181,003) (353,834)
Accounts payable 121,353 93,502 (158,543)
Accrued expenses and other liabilities 191,899 103,565 (55,513)
Deferred revenue 77,844 178,708 27,356
Other non-current assets and liabilities (446,351) (310,920) (217,553)
Net cash provided by operating activities 7,361,364 7,274,301 2,026,257
Cash flows from investing activities:      
Purchases of property and equipment (439,538) (348,552) (407,729)
Acquisitions 0 0 (757,387)
Purchases of investments (1,742,246) (504,862) (911,276)
Proceeds from maturities of investments 0 1,395,165 0
Net cash provided by (used in) investing activities (2,181,784) 541,751 (2,076,392)
Cash flows from financing activities:      
Proceeds from issuance of debt 1,794,460 0 0
Repayments of debt (400,000) 0 (700,000)
Proceeds from issuance of common stock 832,887 169,990 35,746
Repurchases of common stock (6,263,746) (6,045,347) 0
Taxes paid related to net share settlement of equity awards (8,285) 0 0
Other financing activities (29,743) (75,446) 0
Net cash used in financing activities (4,074,427) (5,950,803) (664,254)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (416,331) 82,684 (170,140)
Net increase (decrease) in cash, cash equivalents and restricted cash 688,822 1,947,933 (884,529)
Cash, cash equivalents and restricted cash, beginning of year 7,118,515 5,170,582 6,055,111
Cash, cash equivalents and restricted cash, end of year 7,807,337 7,118,515 5,170,582
Supplemental disclosure:      
Income taxes paid 1,641,530 1,154,973 811,720
Interest paid $ 674,502 $ 684,504 $ 701,693