v3.2.0.727
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:        
Net income $ 26,335 $ 71,018 $ 50,031 $ 124,133
Adjustments to reconcile net income to net cash (used in) provided by operating activities:        
Additions to streaming content library (1,273,677) (813,314) (2,885,602) (1,562,713)
Change in streaming content liabilities 191,154 78,359 817,479 120,603
Amortization of streaming content library 822,600 639,037 1,572,118 1,239,772
Amortization of DVD content library 20,813 16,923 41,998 33,044
Depreciation and amortization of property, equipment and intangibles 15,581 12,977 30,748 25,359
Stock-based compensation expense 28,590 29,285 56,031 55,110
Excess tax benefits from stock-based compensation (39,427) (14,628) (68,428) (47,360)
Other non-cash items 6,682 3,251 12,988 5,447
Deferred taxes (4,232) (16,569) (41,274) (29,672)
Changes in operating assets and liabilities:        
Other current assets (39,614) (20,685) (16,505) 14,381
Accounts payable 6,447 (3,086) (4,178) 19,726
Accrued expenses 41,624 59,008 77,546 58,566
Deferred revenue 16,414 11,315 27,168 25,563
Other non-current assets and liabilities (633) 3,133 21,155 10,424
Net cash (used in) provided by operating activities (181,343) 56,024 (308,725) 92,383
Cash flows from investing activities:        
Acquisition of DVD content library (19,786) (20,981) (42,692) (35,895)
Purchases of property and equipment (27,538) (19,869) (40,574) (33,203)
Other assets (639) 1,129 (414) 1,424
Purchases of short-term investments (67,949) (170,908) (158,889) (231,454)
Proceeds from sale of short-term investments 48,412 89,662 100,360 232,710
Proceeds from maturities of short-term investments 19,170 92,014 51,057 95,104
Net cash (used in) provided by investing activities (48,330) (28,953) (91,152) 28,686
Cash flows from financing activities:        
Proceeds from issuance of common stock 23,804 14,469 34,720 46,917
Proceeds from issuance of debt 0 0 1,500,000 400,000
Issuance costs (397) (353) (17,629) (7,080)
Excess tax benefits from stock-based compensation 39,427 14,628 68,428 47,360
Principal payments of lease financing obligations (287) (271) (538) (538)
Net cash provided by financing activities 62,547 28,473 1,584,981 486,659
Effect of exchange rate changes on cash and cash equivalents 6,221 1,250 (4,840) 1,551
Net (decrease) increase in cash and cash equivalents (160,905) 56,794 1,180,264 609,279
Cash and cash equivalents, beginning of period 2,454,777 1,157,450 1,113,608 604,965
Cash and cash equivalents, end of period 2,293,872 1,214,244 2,293,872 1,214,244
Supplemental disclosure of non-cash investing activities:        
Increase in accounts payable related to purchases of property and equipment $ 13,713 $ 5,528 $ 12,152 $ 5,792