Netflix,Inc.
ConsolidatedStatementsofCashFlows
(unaudited)
(inthousands)
ThreeMonthsEnded TwelveMonthsEnded
December31,
2021
September30,
2021
December31,
2020
December31,
2021
December31,
2020
Cashflowsfromoperatingactivities:
Netincome
$ 607,429 $ 1,449,071 $ 542,156 $ 5,116,228 $ 2,761,395
Adjustmentstoreconcilenetincometonetcashprovidedby
(usedin)operatingactivities:
Additionstocontentassets
(5,654,639) (4,666,237) (3,320,341) (17,702,202) (11,779,284)
Changeincontentliabilities
840,392 (29,246) (528,488) 232,898 (757,433)
Amortizationofcontentassets
3,741,317 2,963,051 2,982,625 12,230,367 10,806,912
Depreciationandamortizationofproperty,equipment
andintangibles
63,984 70,253 31,943 208,412 115,710
Stock-basedcompensationexpense
99,329 95,078 107,594 403,220 415,180
Foreigncurrencyremeasurementloss(gain)ondebt
(103,917) (136,488) 257,983 (430,661) 533,278
Othernon-cashitems
93,806 102,211 73,526 376,777 293,126
Deferredincometaxes
(62,279) 50,967 (159,584) 199,548 70,066
Changesinoperatingassetsandliabilities:
Othercurrentassets
(608) (95,145) (40,362) (369,681) (187,623)
Accountspayable
185,279 24,836 107,898 145,115 (41,605)
Accruedexpensesandotherliabilities
(95,903) 269,774 (176,585) 180,338 198,183
Deferredrevenue
26,710 (4,732) 77,790 91,350 193,247
Othernon-currentassetsandliabilities
(144,174) (11,014) (93,827) (289,099) (194,075)
Netcashprovidedby(usedin)operating
activities
(403,274) 82,379 (137,672) 392,610 2,427,077
Cashflowsfrominvestingactivities:
Purchasesofpropertyandequipment
(165,979) (167,327) (148,356) (524,585) (497,923)
Changeinotherassets
— (21,304) 1,957 (26,919) (7,431)
Acquisitions
(788,349) — — (788,349) —
Netcashusedininvestingactivities
(954,328) (188,631) (146,399) (1,339,853) (505,354)
Cashflowsfromfinancingactivities:
Proceedsfromissuanceofdebt
— — — — 1,009,464
Debtissuancecosts
— — — — (7,559)
Repaymentsofdebt
— — — (500,000) —
Proceedsfromissuanceofcommonstock
88,149 18,445 33,987 174,414 235,406
Repurchasesofcommonstock
— (100,000) — (600,022) —
Taxespaidrelatedtonetsharesettlementofequityawards
(224,168) — — (224,168) —
Netcashprovidedby(usedin)financing
activities
(136,019) (81,555) 33,987 (1,149,776) 1,237,311
Effectofexchangeratechangesoncash,cashequivalents,and
restrictedcash
(4,236) (63,843) 66,674 (86,740) 36,050
Netincrease(decrease)incash,cashequivalents,and
restrictedcash
(1,497,857) (251,650) (183,410) (2,183,759) 3,195,084
Cash,cashequivalentsandrestrictedcashatbeginningof
period
7,552,968 7,804,618 8,422,280 8,238,870 5,043,786
Cash,cashequivalentsandrestrictedcashatendofperiod
$ 6,055,111 $ 7,552,968 $ 8,238,870 $ 6,055,111 $ 8,238,870
ThreeMonthsEnded TwelveMonthsEnded
December31,
2021
September30,
2021
December31,
2020
December31,
2021
December31,
2020
Non-GAAPfreecashflowreconciliation:
Netcashprovidedby(usedin)operatingactivities
$ (403,274) $ 82,379 $ (137,672) $ 392,610 $ 2,427,077
Purchasesofpropertyandequipment
(165,979) (167,327) (148,356) (524,585) (497,923)
Changeinotherassets
— (21,304) 1,957 (26,919) (7,431)
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