NetFlix 2015 Annual Report Download - page 24

Consolidated Balance Sheets:
As of December 31,
2015 2014 2013 2012 2011
(in thousands)
Cash, cash equivalents and
short-term investments .... $ 2,310,715 $1,608,496 $1,200,405 $ 748,078 $ 797,811
Total content assets, net (1) . . . 7,218,815 4,939,460 3,838,364 2,934,099 2,022,650
Working capital (1) ......... 1,902,216 1,263,899 883,049 553,887 595,780
Total assets (1) ............ 10,202,871 7,042,500 5,404,025 3,961,781 3,062,111
Long-term debt (1) ......... 2,371,362 885,849 491,462 195,782 195,123
Long-term debt due to related
party (1) ................———198,109 197,792
Non-current content
liabilities ............... 2,026,360 1,575,832 1,345,590 1,076,622 739,628
Total content liabilities ...... 4,815,383 3,693,073 3,121,573 2,443,469 1,674,664
Total stockholders’ equity .... 2,223,426 1,857,708 1,333,561 744,673 642,810
(1) Certain prior year amounts have been reclassified to conform to the current year presentation in the
consolidated financial statements. See Note 1 and Note 2 in Item 8, Financial Statements and
Supplementary Data for further detail.
Other Data:
As of / Year Ended December 31,
2015 2014 2013 2012 2011
(in thousands)
Net global streaming membership additions
during period (1) ......................... 17,371 13,041 11,083 9,738 —
Global streaming memberships (1) ............ 74,762 57,391 44,350 33,267 23,529
Prior to July 2011, in the U.S., our streaming and DVD-by-mail operations were combined and members could
receive both streaming content and DVDs under a single “hybrid” plan. In July 2011, we separated the combined
plans, making it necessary for members who wish to receive both DVDs-by-mail and streaming content to have
two separate membership plans. Prior to these changes to our pricing and plan structure in 2011, we did not
separately track streaming memberships.
(1) A membership (also referred to as a subscription or a member) is defined as the right to receive the Netflix
service following sign-up and a method of payment being provided. Memberships are assigned to territories
based on the geographic location used at time of sign-up as determined by our internal systems, which
utilize industry standard geo-location technology. We offer free-trial memberships to new and certain
rejoining members. Total members include those who are on a free-trial as long as a method of payment has
been provided. A membership is canceled and ceases to be reflected in the above metrics as of the effective
cancellation date. Voluntary cancellations become effective at the end of the prepaid membership period,
while involuntary cancellation of the service, as a result of a failed method of payment, becomes effective
immediately except in limited circumstances where a short grace period is offered to ensure the streaming
service is not interrupted for members who are impacted by payment processing delays by our banks or
integrated payment partners. The number of members in a grace period at any given point is not material.
20