NetFlix 2005 Annual Report Download - page 65

Download and view the complete annual report

Please find page 65 of the 2005 NetFlix annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 96

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96

NETFLIX, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
As of December 31,
2004 2005
Assets
Current assets:
Cash and cash equivalents .............................................. $174,461 $212,256
Prepaid expenses ..................................................... 2,741 7,848
Prepaid revenue sharing expenses ........................................ 4,695 5,252
Deferred tax assets .................................................... — 13,666
Other current assets ................................................... 5,449 4,669
Total current assets ............................................... 187,346 243,691
DVD library, net ......................................................... 42,158 57,032
Intangible assets, net ...................................................... 961 457
Property and equipment, net ................................................ 18,728 40,213
Deposits ................................................................ 1,600 1,249
Deferred tax assets ........................................................ — 21,239
Other assets ............................................................. 1,000 800
Total assets. ..................................................... $251,793 $364,681
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable ..................................................... $ 49,775 $ 63,491
Accrued expenses ..................................................... 13,131 25,563
Deferred revenue ..................................................... 31,936 48,533
Current portion of capital lease obligations ................................. 68 —
Total current liabilities ............................................. 94,910 137,587
Deferred rent ............................................................ 600 842
Total liabilities ................................................... 95,510 138,429
Commitments and Contingencies
Stockholders’ equity:
Common stock, $0.001 par value; 160,000,000 shares authorized at December 31,
2004 and 2005, respectively; 52,732,025 and 54,755,731 issued and outstanding
at December 31, 2004 and 2005, respectively ............................. 53 55
Additional paid-in capital .............................................. 292,843 317,194
Deferred stock-based compensation ...................................... (4,693) (1,326)
Accumulated other comprehensive income ................................. (222) —
Accumulated deficit ................................................... (131,698) (89,671)
Total stockholders’ equity .......................................... 156,283 226,252
Total liabilities and stockholders’ equity ............................... $251,793 $364,681
See accompanying notes to consolidated financial statements.
F-5