XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 218,698 $ (84,813)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 31,304 26,567
Stock-based compensation expense 133,479 95,348
Amortization of right-of-use assets 21,588 22,422
Amortization of content assets 56,580 17,131
Provision for (recoveries of) doubtful accounts (1,480) 3,097
Other items, net (298) 345
Changes in operating assets and liabilities:    
Accounts receivable (64,710) (62,767)
Inventories (22,050) (12,895)
Prepaid expenses and other current assets (63,402) (3,595)
Other non-current assets (78,549) 842
Accounts payable 15,139 15,996
Accrued liabilities 34,204 55,279
Operating lease liabilities (14,465) 18,116
Other long-term liabilities 201 (833)
Deferred revenue (12,731) 10,907
Net cash provided by operating activities 253,508 101,147
Cash flows from investing activities:    
Purchases of property and equipment (28,020) (76,012)
Acquisitions of businesses, net of cash acquired (136,778)  
Proceeds from escrows associated with acquisition   1,058
Net cash used in investing activities (164,798) (74,954)
Cash flows from financing activities:    
Proceeds from equity issued under at-the-market offerings, net of issuance costs 989,615 497,242
Proceeds from borrowings, net of issuance costs   69,325
Repayments of borrowings (3,750) (73,075)
Proceeds from equity issued under incentive plans 13,433 11,206
Net cash provided by financing activities 999,298 504,698
Net increase in cash, cash equivalents and restricted cash 1,088,008 530,891
Cash, cash equivalents and restricted cash —beginning of period 1,093,249 517,333
Cash, cash equivalents and restricted cash —end of period 2,181,257 1,048,224
Cash, cash equivalents and restricted cash at end of period:    
Cash and cash equivalents 2,179,745 1,047,478
Restricted cash, current   746
Restricted cash, non-current 1,512  
Cash, cash equivalents and restricted cash —end of period 2,181,257 1,048,224
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,932 2,798
Cash paid for income taxes 956 624
Supplemental disclosures of noncash investing and financing activities:    
Non-cash consideration for business combination 15,200  
Services to be received as part of a business combination 6,300  
Unpaid portion of property and equipment purchases 3,310 4,966
Unpaid portion of acquisition-related expenses $ 43  
Unpaid portion of at-the-market issuance costs   $ 11