Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net loss $ (342,978) $ (169,661) $ (30,406)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities      
Depreciation and amortization 60,757 24,458 15,431
Stock-based compensation 138,458 111,645 87,055
Amortization of premium on investments, net 405 1,911 2,833
Other operating activities 4,403 2,134 1,366
Amortization of debt discount 18,315 1,084 0
Excess tax benefit from stock-based awards 0 0 (348)
Changes in assets and liabilities      
Accounts receivable (35,710) (55,904) (55,478)
Prepaid content acquisition costs (44,211) (1,399) (700)
Prepaid expenses and other assets (12,321) (17,519) (8,519)
Accounts payable, accrued and other current liabilities 5,294 18,080 4,830
Accrued content acquisition costs (3,668) 23,736 7,608
Accrued compensation 15,364 7,378 13,736
Other long-term liabilities 1,384 6,005 7,690
Deferred revenue 8,420 4,946 (28,238)
Reimbursement of cost of leasehold improvements 4,397 1,024 4,169
Net cash provided by (used in) operating activities (181,691) (42,082) 21,029
Investing activities      
Purchases of property and equipment (59,769) (23,512) (25,465)
Internal-use software costs (30,210) (8,562) (4,574)
Changes in restricted cash (250) 0 0
Purchases of investments (12,413) (140,980) (340,679)
Proceeds from maturities of investments 47,656 228,998 258,518
Proceeds from sales of investments 3,507 111,356 0
Payments related to acquisitions, net of cash acquired (676) (269,566) 0
Net cash used in investing activities (52,155) (102,266) (112,200)
Financing activities      
Proceeds from issuance of convertible notes 0 345,000 0
Payments for purchase of capped call 0 (43,160) 0
Payment of debt issuance costs (32) (8,909) 0
Borrowings under debt arrangements 90,000 0 0
Proceeds from employee stock purchase plan 9,701 7,552 6,438
Proceeds from exercise of stock options 3,457 5,192 16,894
Tax payments from net share settlements of restricted stock units (3,369) (2,540) (2,019)
Excess tax benefit from stock-based awards 0 0 348
Net cash provided by financing activities 99,757 303,135 21,661
Effect of exchange rate changes on cash and cash equivalents (634) (77) (288)
Net increase (decrease) in cash and cash equivalents (134,723) 158,710 (69,798)
Cash and cash equivalents at beginning of period 334,667 175,957 245,755
Cash and cash equivalents at end of period 199,944 334,667 175,957
Supplemental disclosures of cash flow information      
Cash paid during the period for income taxes 297 389 164
Cash paid during the period for interest 7,222 351 314
Purchases of property and equipment recorded in accounts payable and accrued liabilities 1,129 5,890 751
Fair value of shares issued related to the acquisition of a business $ 0 $ 146,855 $ 0