Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net loss $ (473,646) $ (252,969)
Adjustments to reconcile net loss to net cash used in operating activities    
Goodwill impairment 131,997 0
Loss on sales of subsidiaries 9,459 0
Depreciation and amortization 49,121 43,480
Stock-based compensation 98,327 103,841
Amortization of premium on investments, net 78 339
Accretion of discount on convertible promissory note receivable (171) 0
Other operating activities 290 269
Amortization of debt discount 14,934 13,587
Interest income (258) 0
Provision for bad debt 10,851 2,615
Changes in operating assets and liabilities    
Accounts receivable (11,294) (8,338)
Prepaid content acquisition costs (33,842) (100,524)
Prepaid expenses and other assets (17,955) (12,655)
Accounts payable, accrued and other current liabilities (257) (4,990)
Accrued content acquisition costs 6,063 8,875
Accrued compensation (12,646) 10,370
Other long-term liabilities (532) 598
Deferred revenue 5,618 12,032
Reimbursement of cost of leasehold improvements 5,236 4,397
Net cash used in operating activities (218,627) (179,073)
Investing activities    
Purchases of property and equipment (12,861) (46,400)
Internal-use software costs (13,948) (22,339)
Changes in restricted cash (642) (250)
Purchases of investments 0 (12,413)
Proceeds from maturities of investments 37,084 34,816
Proceeds from sales of investments 0 3,507
Proceeds from sales of subsidiaries, net of cash 125,430 0
Payments related to acquisitions, net of cash acquired 0 (676)
Net cash (used in) provided by investing activities 135,063 (43,755)
Financing activities    
Proceeds from issuance of redeemable convertible preferred stock 480,000 0
Payments of issuance costs (29,284) (32)
Repayment of debt arrangements (90,000) 0
Borrowings under debt arrangements 0 90,000
Proceeds from employee stock purchase plan 8,012 6,395
Proceeds from exercise of stock options 7,836 3,011
Tax payments from net share settlements of restricted stock units 0 (3,126)
Net cash provided by financing activities 376,564 96,248
Effect of exchange rate changes on cash and cash equivalents 237 (392)
Net (decrease) increase in cash and cash equivalents 293,237 (126,972)
Cash and cash equivalents at beginning of period 199,944 334,667
Cash and cash equivalents at end of period 493,181 207,695
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 5,791 3,336
Purchases of property and equipment recorded in accounts payable and accrued liabilities 2,294 8,321
Accretion of preferred stock issuance costs 29,259 0
Stock dividend payable to preferred stockholders 3,588 0
Fair value of convertible promissory note receivable received as partial consideration for sale of subsidiary $ 36,203 $ 0