NetFlix 2013 Annual Report Download - page 21

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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,
2013 2012 2011 2010 2009
(in thousands, except per share data)
Revenues ............................ $4,374,562 $3,609,282 $3,204,577 $2,162,625 $1,670,269
Cost of revenues ...................... 3,083,256 2,625,866 2,039,901 1,357,355 1,079,271
Operating income ..................... 228,347 49,992 376,068 283,641 191,939
Net income .......................... 112,403 17,152 226,126 160,853 115,860
Earnings per share:
Basic ........................... $ 1.93 $ 0.31 $ 4.28 $ 3.06 $ 2.05
Diluted .......................... $ 1.85 $ 0.29 $ 4.16 $ 2.96 $ 1.98
Weighted-average common shares
outstanding:
Basic ........................... 58,198 55,521 52,847 52,529 56,560
Diluted .......................... 60,761 58,904 54,369 54,304 58,416
Consolidated Statements of Cash Flows:
Year Ended December 31,
2013 2012 (1) 2011 2010 2009
(in thousands)
Net cash provided by operating
activities ...................... $ 97,831 $ 21,586 $317,712 $276,401 $325,063
Free cash flow (2) ................ (16,300) (58,151) 186,550 131,007 97,122
(1) Certain amounts in prior periods have been revised. See Note 2 to Item 8, Financial Statements and
Supplementary Data.
(2) 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,
2013 2012 2011 2010 2009
(in thousands)
Cash, cash equivalents and
short-term investments ..... $1,200,405 $ 748,078 $ 797,811 $350,387 $320,242
Total content library, net ...... 3,797,492 2,874,170 1,966,643 361,979 146,139
Working capital ............. 904,560 564,865 605,802 248,652 183,577
Total assets ................ 5,412,563 3,967,890 3,069,196 982,067 679,734
Long-term debt ............. 500,000 200,000 200,000 200,000 200,000
Long-term debt due to related
party .................... — 200,000 200,000 — —
Non-current content
liabilities ................ 1,345,590 1,076,622 739,628 48,179 2,227
Total stockholders’ equity ..... 1,333,561 744,673 642,810 290,164 199,143
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