Balance Sheet Components (Tables)
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12 Months Ended |
Dec. 31, 2019 |
Balance Sheet Components Disclosure [Abstract] |
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Content Assets |
Content assets consisted of the following: | | | | | | | | | | As of December 31, | | 2019 | | 2018 | | (in thousands) | | | | | Licensed content, net | $ | 14,703,352 |
| | $ | 14,081,463 |
| Produced content, net | | | | Released, less amortization | 4,382,685 |
| | 2,403,896 |
| In production | 4,750,664 |
| | 3,305,126 |
| In development and pre-production | 667,866 |
| | 311,842 |
| | 9,801,215 |
| | 6,020,864 |
| | | | | Total | $ | 24,504,567 |
| | $ | 20,102,327 |
| | | | | Current content assets, net | $ | — |
| | $ | 5,151,186 |
| Non-current content assets, net | $ | 24,504,567 |
| | $ | 14,951,141 |
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Schedule of Amortization of Streaming Content Assets |
The following table represents the amortization of streaming content assets: | | | | | | | | | | | | | | Year ended December 31, | | 2019 | | 2018 | | 2017 | | (in thousands) | Licensed content | $ | 7,242,799 |
| | $ | 6,511,689 |
| | $ | 5,680,373 |
| Produced content | 1,973,448 |
| | 1,020,399 |
| | 517,444 |
| Total streaming content | $ | 9,216,247 |
| | $ | 7,532,088 |
| | $ | 6,197,817 |
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Property and Equipment, Net |
Property and equipment and accumulated depreciation consisted of the following: | | | | | | | | | | | | | | As of December 31, | | Estimated Useful Lives (in Years) | | | 2019 | | 2018 | | | | (in thousands) | | | Land | | $ | 6,125 |
| | $ | 6,125 |
| | | Buildings | | 33,141 |
| | 73,468 |
| | 30 years | Leasehold improvements | | 354,999 |
| | 282,028 |
| | Over life of lease | Furniture and fixtures | | 87,465 |
| | 63,667 |
| | 3-15 years | Information technology | | 243,565 |
| | 224,296 |
| | 3 years | Corporate aircraft | | 108,995 |
| | 62,560 |
| | 8 years | Machinery and equipment | | 46,415 |
| | 55,108 |
| | 3-5 years | Capital work-in-progress | | 100,521 |
| | 19,548 |
| | | Property and equipment, gross | | 981,226 |
| | 786,800 |
| | | Less: Accumulated depreciation | | (416,005 | ) | | (368,519 | ) | | | Property and equipment, net | | $ | 565,221 |
| | $ | 418,281 |
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Information on Right-of-Use Assets and Lease Liabilities |
Information related to the Company's right-of-use assets and related lease liabilities were as follows: | | | | | | Year ended December 31, | | 2019 | | (in thousands) | Cash paid for operating lease liabilities | $ | 192,084 |
| Right-of-use assets obtained in exchange for new operating lease obligations (1) | 1,672,462 |
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(1) Balance includes $743 million for operating leases existing on January 1, 2019. | | | | | As of | | December 31, 2019 | | | Weighted-average remaining lease term | 8.8 years |
| Weighted-average discount rate | 5.0 | % |
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Maturities of Lease Liabilities |
Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands): | | | | | Due in 12 month period ended December 31, | 2020 | $ | 248,636 |
| 2021 | 246,148 |
| 2022 | 226,020 |
| 2023 | 211,387 |
| 2024 | 194,506 |
| Thereafter | 912,457 |
| | 2,039,154 |
| Less imputed interest | (425,920 | ) | Total lease liabilities | 1,613,234 |
| | | Current operating lease liabilities | 190,622 |
| Non-current operating lease liabilities | 1,422,612 |
| Total lease liabilities | $ | 1,613,234 |
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Other Current Assets |
Other current assets consisted of the following: | | | | | | | | | | | | As of | | | December 31, 2019 | | December 31, 2018 | | | (in thousands) | Trade receivables | | $ | 454,399 |
| | $ | 362,712 |
| Prepaid expenses | | 180,999 |
| | 178,833 |
| Other receivables | | 524,669 |
| | 206,921 |
| Total other current assets | | $ | 1,160,067 |
| | $ | 748,466 |
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