NetFlix 2012 Annual Report Download - page 27

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Item 6. Selected Financial Data
The following selected consolidated financial data is not necessarily indicative of results of future
operations and should be read in conjunction with Item 7, Management’s Discussion and Analysis of Financial
Condition and Results of Operations and Item 8, Financial Statements and Supplementary Data.
Consolidated Statements of Operations:
Year ended December 31,
2012 2011 2010 2009 2008
(in thousands, except per share data)
Revenues ............................ $3,609,282 $3,204,577 $2,162,625 $1,670,269 $1,364,661
Cost of revenues ...................... 2,625,866 2,039,901 1,357,355 1,079,271 910,234
Operating income ..................... 49,992 376,068 283,641 191,939 121,506
Net income .......................... 17,152 226,126 160,853 115,860 83,026
Earnings per share:
Basic ........................... $ 0.31 $ 4.28 $ 3.06 $ 2.05 $ 1.36
Diluted .......................... $ 0.29 $ 4.16 $ 2.96 $ 1.98 $ 1.32
Weighted-average common shares
outstanding:
Basic ........................... 55,521 52,847 52,529 56,560 60,961
Diluted .......................... 58,904 54,369 54,304 58,416 62,836
Consolidated Statements of Cash Flows:
Year Ended December 31,
2012 2011 2010 2009 2008
(in thousands)
Net cash provided by operating
activities ..................... $22,765 $317,712 $276,401 $325,063 $284,037
Free cash flow (1) ................ (58,151) 186,550 131,007 97,122 94,700
(1) See “Liquidity and Capital Resources” for a definition of “free cash flow” and a reconciliation of “free cash
flow” to “net cash provided by operating activities.”
Consolidated Balance Sheets:
As of December 31,
2012 2011 2010 2009 2008
(in thousands)
Cash, cash equivalents and short-
term investments ........... $ 748,078 $ 797,811 $350,387 $320,242 $297,271
Total content library, net ....... 2,874,170 1,966,643 361,979 146,139 117,238
Working capital .............. 564,865 605,802 248,652 183,577 142,908
Total assets .................. 3,967,890 3,069,196 982,067 679,734 615,424
Long-term debt ............... 200,000 200,000 200,000 200,000 —
Long-term debt due to related
party ..................... 200,000 200,000 — — —
Non-current content liabilities . . . 1,076,622 739,628 48,179 2,227 3,516
Stockholders’ equity ........... 744,673 642,810 290,164 199,143 347,155
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