Sheet Name :- Cashflow
Netflix, Inc.
Consolidated Statements of Cash Flows
(unaudited)
(in thousands)
Three Months Ended Twelve Months Ended Three Months Ended Twelve Months Ended Three Months Ended Nine Months Ended
March 31, June 30, September 30, December 31, December 31, March 31, June 30, September 30, December 31, December 31, March 31, June 30, September 30, September 30,
2013 2013 2013 2013 2013 2014 2014 2014 2014 2014 2015 2015 2015 2015
Cash flows from operating activities:
Net income 2689 29471 31822 48421 112403 53115 71018 59295 83371 266799 23696 26335.31955 29432 79463.31955
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Additions to streaming content library -591941 -593454 -878314 -986049 -3049758 -749399 -813314 -1202484 -1008262 -3773459 -1611925 -1273677 -1308943 -4194545
Change in streaming content liabilities 9700 7284 310191 346610 673785 42244 78359 346752 125770 593125 626325 191154 104684 922163
Amortization of streaming content library 485740 510250 553394 572597 2121981 600735 639037 686154 730353 2656279 749518 822600 871403 2443521
Amortization of DVD content library 18237 17709 17546 17833 71325 16121 16923 18269 20178 71491 21185 20813 18589 60587
Depreciation and amortization of property, equipment and intangibles 12051 12026 11452 12845 48374 12382 12977 14357 14312 54028 15167 15581 16047 46795
Stock-based compensation expense 17746 17955 18477 18922 73100 25825 29285 29878 30251 115239 27441 28590 32834 88865
Excess tax benefits from stock-based compensation -11615 -20368 -20492 -29188 -81663 -32732 -14628 -21060 -20921 -89341 -29001 -39427 -37726 -106154
Other non-cash items 1750 1188 1994 400 5332 2196 3251 3360 6475 15282 6306 6682 10866 23854
Loss on extinguishment of debt 25129 0 0 0 25129 0 0 0 0 0 0 0 0 0
Deferred taxes -6748 -2040 -2424 -10832 -22044 -13103 -16569 -7892 7501 -30063 -37042 -4232 -29417 -70691
Changes in operating assets and liabilities:
Other current assets -5727 33762 9920 24279 62234 35066 -20685 12960 -36099 -8758 23109 -39614 71172 54667
Accounts payable 17019 -5138 -5877 12370 18374 22812 -3086 13003 51083 83812 -10625 6447 6762 2584
Accrued expenses -4132 10494 -11451 7030 1941 -442 59008 -6980 4050 55636 35922 41624 10883 88429
Deferred revenue 9406 7693 9252 19944 46295 14248 11315 11626 21630 58819 10754 16414 27985 55153
Other non-current assets and liabilities 8446 7111 -10797 -13737 -8977 7291 3133 5323 -68153 -52406 21788 -633 -20540 615
Net cash provided by (used in) operating activities -12250 33943 34693 41445 97831 36359 56024 -37439 -38461 16483 -127382 -181342.68045 -195969 -504693.68045
Cash flows from investing activities:
Acquisition of DVD content library -21193 -14023 -15471 -15240 -65927 -14914 -20981 -15530 -23365 -74790 -22906 -19786 -14467 -57159
Purchases of property and equipment -12118 -8088 -10828 -23109 -54143 -13334 -19869 -21032 -15491 -69726 -13036 -27538 -37820 -78394
Other assets 4050 1087 -1329 2131 5939 295 1129 341 -431 1334 225 -639 -3760 -4174
Purchases of short-term investments -235623 -146050 -116116 -52475 -550264 -60546 -170908 -123883 -71597 -426934 -90940 -67949 -66444 -225333
Proceeds from sale of short-term investments 81228 33979 81185 151110 347502 143048 89662 107568 45022 385300 51948 48412 43887 144247
Proceeds from maturities of short-term investments 4420 5410 48890 2205 60925 3090 92014 32125 14721 141950 31887 19170 31125 82182
Net cash provided by (used in) investing activities -179236 -127685 -13669 64622 -255968 57639 -28953 -20411 -51141 -42866 -42822 -48330 -47479 -138631
Cash flows from financing activities:
Proceeds from issuance of common stock 39146 28846 25561 31004 124557 32448 14469 9877 3750 60544 10916 23804 35089 69809
Proceeds from issuance of debt 500000 500000 400000 0 0 0 400000 1500000 0 0 1500000
Issuance costs -9414 0 0 0 -9414 -6727 -353 0 0 -7080 -17232 -397 0 -17629
Redemption of debt -219362 0 0 0 -219362 0 0 0 0 0 0 0 0 0
Excess tax benefits from stock-based compensation 11615 20368 20492 29188 81663 32732 14628 21060 20921 89341 29001 39427 37726 106154
Principal payments of lease financing obligations -403 -255 -258 -264 -1180 -267 -271 -275 -280 -1093 -251 -287 -61 -599
Net cash provided by financing activities 321582 48959 45795 59928 476264 458186 28473 30662 24391 541712 1522434 62547 72754 1657735
Effect of exchange rate changes on cash and cash equivalents -2336 -2590 1559 -86 -3453 301 1250 -3839 -4398 -6686 -11061 6221 -7741 -12581
Net increase (decrease) in cash and cash equivalents 127760 -47373 68378 165909 314674 552485 56794 -31027 -69609 508643 1341169 -160904.68045 -178435 1001829.31955
Cash and cash equivalents, beginning of period 290291 418051 370678 439056 290291 604965 1157450 1214244 1183217 604965 1113608 2454777 2293872.31955 1113608
Cash and cash equivalents, end of period 418051 370678 439056 604965 604965 1157450 1214244 1183217 1113608 1113608 2454777 2293872.31955 2115437.31955 2115437.31955
Non-GAAP free cash flow reconciliation:
Net cash provided by (used in) operating activities -12250 33943 34693 41445 97831 36359 56024 -37439 -38461 16483 -127382 -181342.68045 -195969 -504693.68045
Acquisition of DVD content library -21193 -14023 -15471 -15240 -65927 -14914 -20981 -15530 -23365 -74790 -22906 -19786 -14467 -57159
Purchases of property and equipment -12118 -8088 -10828 -23109 -54143 -13334 -19869 -21032 -15491 -69726 -13036 -27538 -37820 -78394
Other assets 4050 1087 -1329 2131 5939 295 1129 341 -431 1334 225 -639 -3760 -4174
Non-GAAP free cash flow -41511 12919 7065 5227 -16300 8406 16303 -73660 -77748 -126699 -163099 -229305.68045 -252016 -644420.68045