Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 8,177,405	$ 7,804,733
Short-term investments	213,115	1,779,006
Other current assets	3,602,586	3,516,640
Total current assets	11,993,106	13,100,379
Content assets, net	32,089,394	32,452,462
Property and equipment, net	1,743,566	1,593,756
Other non-current assets	7,273,598	6,483,777
Total assets	53,099,664	53,630,374
Current liabilities:
Current content liabilities	4,091,770	4,393,681
Accounts payable	632,718	899,909
Accrued expenses and other liabilities	2,489,486	2,156,544
Deferred revenue	1,728,361	1,520,813
Short-term debt	0	1,784,453
Total current liabilities	8,942,335	10,755,400
Non-current content liabilities	1,606,404	1,780,806
Long-term debt	14,453,206	13,798,351
Other non-current liabilities	3,145,820	2,552,250
Total liabilities	28,147,765	28,886,807
Commitments and contingencies (Note 8)
Stockholders’ equity:
Common stock, $0.001 par value; 4,990,000,000 shares authorized at June 30, 2025 and December 31, 2024; 424,926,346 and 427,757,100 issued and outstanding at June 30, 2025 and December 31, 2024, respectively	6,932,828	6,252,126
Treasury stock at cost (31,228,532 and 25,953,460 shares at June 30, 2025 and December 31, 2024, respectively)	(18,392,942)	(13,171,638)
Accumulated other comprehensive income (loss)	(904,668)	362,162
Retained earnings	37,316,681	31,300,917
Total stockholders’ equity	24,951,899	24,743,567
Total liabilities and stockholders’ equity	$ 53,099,664	$ 53,630,374