10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NETFLIX INC | |||
Ticker: NFLX Fiscal Year: 2009 | |||
Statement Of Income | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 22, 2010) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Revenues | $ 1,670,269 | 1,364,661 | 1,205,340 |
| Cost of revenues: | |||
| Subscription | 909,461 | 761,133 | 664,407 |
| Fulfillment expenses | 169,810 [1] | 149,101 | 121,761 |
| Total cost of revenues | 1,079,271 | 910,234 | 786,168 |
| Gross Profit | 590,998 | 454,427 | 419,172 |
| Operating expenses: | |||
| Technology and development | 114,542 | 89,873 | 70,979 |
| Marketing | 237,744 | 199,713 | 218,212 |
| General and administrative | 51,333 | 49,662 | 52,404 |
| Gain on disposal of DVDs | (4,560) | (6,327) | (7,196) |
| Gain on legal settlement | 0 | 0 | (7,000) |
| Total operating expenses | 399,059 | 332,921 | 327,399 |
| Operating income | 191,939 | 121,506 | 91,773 |
| Other income (expense): | |||
| Interest expense | (6,475) | (2,458) | (1,188) |
| Interest and other income (expense) | 6,728 | 12,452 | 20,340 |
| Income before income taxes | 192,192 | 131,500 | 110,925 |
| Provision for income taxes | 76,332 | 48,474 | 44,317 |
| Net income | 115,860 | 83,026 | 66,608 |
| Net income per share: | |||
| Basic | 2.05 | 1.36 | 0.99 |
| Diluted | 1.98 | 1.32 | 0.97 |
| Weighted-average common shares outstanding: | |||
| Basic | 56,560 | 60,961 | 67,076 |
| Diluted | 58,416 | 62,836 | 68,902 |
| [1] Stock-based compensation included in expense line items: Fulfillment expenses $ 380 $ 466 $ 427 Technology and development 4,453 3,890 3,695 Marketing 1,786 1,886 2,160 General and administrative 5,999 6,022 5,694 | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NETFLIX INC | |||
Ticker: NFLX Fiscal Year: 2009 | |||
Statement Of Cash Flows Indirect | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 22, 2010) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Cash flows from operating activities: | |||
| Net income | $ 115,860 | 83,026 | 66,608 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation of property, equipment and intangibles | 38,044 | 32,454 | 22,219 |
| Amortization of content library | 219,490 | 209,757 | 203,415 |
| Amortization of discounts and premiums on investments | 607 | 625 | 24 |
| Amortization of debt issuance costs | 1,124 | 0 | 0 |
| Stock-based compensation expense | 12,618 | 12,264 | 11,976 |
| Excess tax benefits from stock-based compensation | (12,683) | (5,220) | (26,248) |
| Loss (gain) on disposal of property and equipment | 254 | 101 | 142 |
| Gain on sale of short-term investments | (1,509) | (3,130) | (687) |
| Gain on disposal of DVDs | (7,637) | (13,350) | (14,637) |
| Gain on sale of investment in business | (1,783) | 0 | 0 |
| Deferred taxes | 6,328 | (5,905) | (893) |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current assets | (11,001) | (4,181) | (3,893) |
| Content library | (64,217) | (48,290) | (34,821) |
| Accounts payable | (2,256) | 7,111 | 16,555 |
| Accrued expenses | 13,169 | (1,824) | 32,809 |
| Deferred revenue | 16,970 | 11,462 | 1,987 |
| Other assets and liabilities | 1,685 | 9,137 | 2,868 |
| Net cash provided by operating activities | 325,063 | 284,037 | 277,424 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (228,000) | (256,959) | (405,340) |
| Proceeds from sale of short-term investments | 166,706 | 304,163 | 200,832 |
| Proceeds from maturities of short-term investments | 35,673 | 3,170 | 0 |
| Purchases of property and equipment | (45,932) | (43,790) | (44,256) |
| Acquisition of intangible asset | (200) | (1,062) | (550) |
| Acquisitions of content library | (193,044) | (162,849) | (208,647) |
| Proceeds from sale of DVDs | 11,164 | 18,368 | 21,640 |
| Investment in business | 0 | (6,000) | 0 |
| Proceeds from sale of investment in business | 7,483 | 0 | 0 |
| Other assets | 71 | (1) | 297 |
| Net cash used in investing activities | (246,079) | (144,960) | (436,024) |
| Cash flows from financing activities: | |||
| Principal payments of lease financing obligations | (1,158) | (823) | (390) |
| Proceeds from issuance of common stock | 35,274 | 18,872 | 9,609 |
| Excess tax benefits from stock-based compensation | 12,683 | 5,220 | 26,248 |
| Borrowings on line of credit, net of issuance costs | 18,978 | 0 | 0 |
| Payments on line of credit | (20,000) | 0 | 0 |
| Proceeds from issuance of debt, net of issuance costs | 193,917 | 0 | 0 |
| Repurchases of common stock | (324,335) | (199,904) | (99,858) |
| Net cash used by financing activities | (84,641) | (176,635) | (64,391) |
| Net decrease in cash and cash equivalents | (5,657) | (37,558) | (222,991) |
| Cash and cash equivalents, beginning of year | 139,881 | 177,439 | |
| Cash and cash equivalents, end of year | 134,224 | 139,881 | 177,439 |
| Supplemental disclosure: | |||
| Income taxes paid | 58,770 | 40,494 | 15,775 |
| Interest paid | 3,878 | 2,458 | 1,188 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NETFLIX INC | ||
Ticker: NFLX Fiscal Year: 2009 | ||
Statement Of Financial Position Classified | ||
Period Ending Dec 31, 2009 10-K (Filed: Feb 22, 2010) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2009 | Dec 31, 2008 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 134,224 | 139,881 |
| Short-term investments | 186,018 | 157,390 |
| Prepaid expenses | 12,491 | 8,122 |
| Prepaid revenue sharing expenses | 17,133 | 18,417 |
| Current content library, net | 37,329 | 18,691 |
| Other current assets | 23,818 | 16,424 |
| Total current assets | 411,013 | 358,925 |
| Content library, net | 108,810 | 98,547 |
| Property and equipment, net | 131,653 | 124,948 |
| Deferred tax assets | 15,958 | 22,409 |
| Other non-current assets | 12,300 | 10,595 |
| Total assets | 679,734 | 615,424 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | 91,475 | 100,344 |
| Accrued expenses | 33,387 | 31,394 |
| Current portion of lease financing obligations | 1,410 | 1,152 |
| Deferred revenue | 100,097 | 83,127 |
| Total current liabilities | 226,369 | 216,017 |
| Long-term debt | 200,000 | 0 |
| Lease financing obligations, excluding current portion | 36,572 | 37,988 |
| Other non-current liabilities | 17,650 | 14,264 |
| Total liabilities | 480,591 | 268,269 |
| Commitments and contingencies | ||
| Stockholders' equity: | ||
| Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2009 and 2008; no shares issued and outstanding at December 31, 2009 and 2008 | 0 | 0 |
| Common stock, $0.001 par value; 160,000,000 shares authorized at December 31, 2009 and 2008; 53,440,073 and 58,862,478 issued and outstanding at December 31, 2009 and 2008, respectively | 53 | 62 |
| Additional paid-in capital | 0 | 338,577 |
| Treasury stock at cost (3,491,084 shares at December 31, 2008) | 0 | (100,020) |
| Accumulated other comprehensive income | 273 | 84 |
| Retained earnings | 198,817 | 108,452 |
| Total stockholders' equity | 199,143 | 347,155 |
| Total liabilities and stockholders' equity | 679,734 | 615,424 |
| External Links | |
| NETFLIX INC (NFLX) Fiscal Year 2009 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |