XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:        
Net income $ 1,449,071 $ 789,976 $ 4,508,799 $ 2,219,239
Adjustments to reconcile net income to net cash provided by operating activities:        
Additions to content assets (4,666,237) (2,653,886) (12,047,563) (8,458,943)
Change in content liabilities (29,246) (379,458) (607,494) (228,945)
Amortization of content assets 2,963,051 2,733,743 8,489,050 7,824,287
Depreciation and amortization of property, equipment and intangibles 70,253 28,589 144,428 83,767
Stock-based compensation expense 95,078 106,357 303,891 307,586
Foreign currency remeasurement loss (gain) on debt (136,488) 249,194 (326,744) 275,295
Other non-cash items 102,211 83,851 282,971 219,600
Deferred income taxes 50,967 (40,277) 261,827 229,650
Changes in operating assets and liabilities:        
Other current assets (95,145) (22,974) (369,073) (147,261)
Accounts payable 24,836 111,677 (40,164) (149,503)
Accrued expenses and other liabilities 269,774 266,027 276,241 374,768
Deferred revenue (4,732) 10,941 64,640 115,457
Other non-current assets and liabilities (11,014) (19,999) (144,925) (100,248)
Net cash provided by operating activities 82,379 1,263,761 795,884 2,564,749
Cash flows from investing activities:        
Purchases of property and equipment (167,327) (109,811) (358,606) (349,567)
Change in other assets (21,304) (8,840) (26,919) (9,388)
Net cash used in investing activities (188,631) (118,651) (385,525) (358,955)
Cash flows from financing activities:        
Proceeds from issuance of debt 0 0 0 1,009,464
Debt issuance costs 0 0 0 (7,559)
Repayments of debt 0 0 (500,000) 0
Proceeds from issuance of common stock 18,445 68,665 86,265 201,419
Repurchases of common stock (100,000) 0 (600,022) 0
Net cash provided by (used in) financing activities (81,555) 68,665 (1,013,757) 1,203,324
Effect of exchange rate changes on cash, cash equivalents and restricted cash (63,843) 28,459 (82,504) (30,624)
Net increase (decrease) in cash, cash equivalents and restricted cash (251,650) 1,242,234 (685,902) 3,378,494
Cash, cash equivalents and restricted cash at beginning of period 7,804,618 7,180,046 8,238,870 5,043,786
Cash, cash equivalents and restricted cash at end of period $ 7,552,968 $ 8,422,280 $ 7,552,968 $ 8,422,280