Netflix,Inc.
ConsolidatedStatementsofCashFlows
(unaudited)
(inthousands)
ThreeMonthsEnded NineMonthsEnded
September30,
2020
June30,
2020
September30,
2019
September30,
2020
September30,
2019
Cashflowsfromoperatingactivities:
Netincome
$ 789,976 $ 720,196 $ 665,244 $ 2,219,239 $ 1,279,946
Adjustmentstoreconcilenetincometonetcashprovided
by(usedin)operatingactivities:
Additionstocontentassets
(2,653,886) (2,510,782) (3,648,292) (8,458,943) (9,971,141)
Changeincontentliabilities
(379,458) (108,432) (95,548) (228,945) (122,660)
Amortizationofcontentassets
2,733,743 2,607,159 2,279,977 7,824,287 6,636,578
Depreciationandamortizationofproperty,equipment
andintangibles
28,589 26,661 26,704 83,767 75,761
Stock-basedcompensationexpense
106,357 104,210 100,262 307,586 305,310
Othernon-cashitems
83,851 70,301 57,934 219,600 164,337
Foreigncurrencyremeasurementloss(gain)ondebt
249,194 119,161 (171,360) 275,295 (167,676)
(40,277) 223,308 52,105 229,650 94,251
Changesinoperatingassetsandliabilities:
(22,974) 3,066 145 (147,261) (56,162)
111,677 (112,027) (7,643) (149,503) (134,784)
Accruedexpensesandotherliabilities
266,027 (105,450) 260,872 374,768 391,814
10,941 42,508 22,729 115,457 154,607
Othernon-currentassetsandliabilities
(19,999) (38,803) (44,923) (100,248) (75,528)
Netcashprovidedby(usedin)operating
activities
1,263,761 1,041,076 (501,794) 2,564,749 (1,425,347)
Cashflowsfrominvestingactivities:
Purchasesofpropertyandequipment
(109,811) (141,741) (45,333) (349,567) (145,298)
Changeinotherassets
(8,840) (260) (4,021) (9,388) (34,195)
Netcashusedininvestingactivities
(118,651) (142,001) (49,354) (358,955) (179,493)
Cashflowsfromfinancingactivities:
Proceedsfromissuanceofdebt
— 1,009,464 — 1,009,464 2,243,196
— (7,559) — (7,559) (18,192)
Proceedsfromissuanceofcommonstock
68,665 89,060 11,989 201,419 56,857
Netcashprovidedbyfinancingactivities
68,665 1,090,965 11,989 1,203,324 2,281,861
Effectofexchangeratechangesoncash,cashequivalents,
andrestrictedcash
28,459 11,819 (29,325) (30,624) (29,341)
Netincrease(decrease)incash,cashequivalents,and
restrictedcash
1,242,234 2,001,859 (568,484) 3,378,494 647,680
Cash,cashequivalentsandrestrictedcashatbeginningof
period
7,180,046 5,178,187 5,028,205 5,043,786 3,812,041
Cash,cashequivalentsandrestrictedcashatendofperiod
$ 8,422,280 $ 7,180,046 $ 4,459,721 $ 8,422,280 $ 4,459,721
ThreeMonthsEnded NineMonthsEnded
September30,
2020
June30,
2020
September30,
2019
September30,
2020
September30,
2019
Non-GAAPfreecashflowreconciliation:
Netcashprovidedby(usedin)operatingactivities
$ 1,263,761 $ 1,041,076 $ (501,794) $ 2,564,749 $ (1,425,347)
Netcashusedininvestingactivities
(118,651) (142,001) (49,354) (358,955) (179,493)
$ 1,145,110 $ 899,075 $ (551,148) $ 2,205,794 $ (1,604,840)
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