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Consolidated Statements Of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:        
Net income $ 3,125,413 $ 2,147,306 $ 6,015,764 $ 4,479,515
Adjustments to reconcile net income to net cash provided by operating activities:        
Additions to content assets (3,835,813) (4,048,852) (7,385,470) (7,777,819)
Change in content liabilities (214,052) (366,572) (625,305) (556,013)
Amortization of content assets 3,832,074 3,769,690 7,655,186 7,440,495
Depreciation and amortization of property, equipment and intangibles 80,013 81,227 160,080 168,461
Stock-based compensation expense 80,862 68,766 152,839 145,111
Foreign currency remeasurement loss (gain) on debt 55,238 (42,692) 83,785 (173,493)
Other non-cash items 120,139 138,588 234,869 235,769
Deferred income taxes (135,755) (209,387) (299,683) (316,464)
Changes in operating assets and liabilities:        
Other current assets (176,683) (28,959) (308,050) 9,090
Accounts payable 11,046 (19,358) (265,380) (164,623)
Accrued expenses and other liabilities (267,235) (114,303) 39,178 137,479
Deferred revenue 118,635 4,236 207,548 30,751
Other non-current assets and liabilities (370,624) (88,843) (452,904) (154,890)
Net cash provided by operating activities 2,423,258 1,290,847 5,212,457 3,503,369
Cash flows from investing activities:        
Purchases of property and equipment (155,889) (78,287) (284,166) (154,001)
Purchases of investments (1,650) 0 (157,665) 0
Proceeds from maturities and sales of investments 962,413 0 1,732,367 0
Other investing activities (36,190) 0 (36,190) 0
Net cash provided by (used in) investing activities 768,684 (78,287) 1,254,346 (154,001)
Cash flows from financing activities:        
Repayments of debt (1,033,450) 0 (1,833,450) (400,000)
Proceeds from issuance of common stock 169,066 118,750 520,668 387,631
Repurchases of common stock (1,654,327) (1,599,998) (5,190,723) (3,599,998)
Taxes paid related to net share settlement of equity awards (6,114) (1,883) (33,984) (3,708)
Other financing activities 21,957 (6,250) 6,305 (6,250)
Net cash used in financing activities (2,502,868) (1,489,381) (6,531,184) (3,622,325)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 287,471 (122,723) 437,617 (218,513)
Net increase (decrease) in cash, cash equivalents and restricted cash 976,545 (399,544) 373,236 (491,470)
Cash, cash equivalents and restricted cash at beginning of period 7,204,028 7,026,589 7,807,337 7,118,515
Cash, cash equivalents and restricted cash at end of period $ 8,180,573 $ 6,627,045 $ 8,180,573 $ 6,627,045