v3.25.4
Segment and Geographic Information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Financial Information, by Segment
The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
 202520242023
(in thousands)
Revenues$45,183,036 $39,000,966 $33,723,297 
Less:
Content amortization16,422,166 15,301,517 14,197,437 
Other cost of revenues6,853,163 5,736,947 5,517,931 
Sales and marketing
3,301,306 2,917,554 2,657,883 
Technology and development3,391,390 2,925,295 2,675,758 
General and administrative1,888,408 1,702,039 1,720,285 
Operating income13,326,603 10,417,614 6,954,003 
Operating margin29.5 %26.7 %20.6 %
Other income (expense)
Interest expense(776,510)(718,733)(699,826)
Interest and other income (expense)(1)
172,459 266,776 (48,772)
Income before income taxes12,722,552 9,965,657 6,205,405 
Provision for income taxes(1,741,351)(1,254,026)(797,415)
Net income$10,981,201 $8,711,631 $5,407,990 
(1) Includes interest income of $295 million, $294 million and $281 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Schedule of Long-lived Assets by Geographic Areas The Company's long-lived tangible assets, as well as the Company's operating lease right-of-use assets recognized on the Consolidated Balance Sheets were located as follows:
As of December 31,
20252024
(in thousands)
United States$3,075,477 $2,769,828 
International1,136,034 926,238