Netflix (NFLX) 10-K 29 Jan 20 2019 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-35727
Entity Registrant Name	Netflix, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0467272
Entity Address, Address Line One	100 Winchester Circle,
Entity Address, City or Town	Los Gatos
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95032
City Area Code	408
Local Phone Number	540-3700
Title of 12(b) Security	Common stock, $0.001 par value per share
Trading Symbol	NFLX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float		$ 156,930,337,748
Entity Common Stock, Shares Outstanding	438,806,649
Entity Central Index Key	0001065280
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues	$ 20,156,447	$ 15,794,341	$ 11,692,713
Cost of revenues	12,440,213	9,967,538	8,033,000
Marketing	2,652,462	2,369,469	1,436,281
Technology and development	1,545,149	1,221,814	953,710
General and administrative	914,369	630,294	431,043
Operating income	2,604,254	1,605,226	838,679
Other income (expense):
Interest expense	(626,023)	(420,493)	(238,204)
Interest and other income (expense)	84,000	41,725	(115,154)
Income before income taxes	2,062,231	1,226,458	485,321
Provision for (benefit from) income taxes	195,315	15,216	(73,608)
Net income	$ 1,866,916	$ 1,211,242	$ 558,929
Earnings per share:
Basic (in USD per share)	$ 4.26	$ 2.78	$ 1.29
Diluted (in USD per share)	$ 4.13	$ 2.68	$ 1.25
Weighted-average common shares outstanding:
Basic (in shares)	437,799	435,374	431,885
Diluted (in shares)	451,765	451,244	446,814

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 1,866,916	$ 1,211,242	$ 558,929
Other comprehensive income (loss):
Foreign currency translation adjustments	(3,939)	975	27,409
Change in unrealized gains (losses) on available-for-sale securities, net of tax of $0, $0, and $378, respectively	0	0	599
Total other comprehensive income (loss)	(3,939)	975	28,008
Comprehensive income	$ 1,862,977	$ 1,212,217	$ 586,937

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Change in unrealized gains (losses) on available for sale securities, tax	$ 0	$ 0	$ 378

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 1,866,916	$ 1,211,242	$ 558,929
Adjustments to reconcile net income to net cash used in operating activities:
Additions to streaming content assets	(13,916,683)	(13,043,437)	(9,805,763)
Change in streaming content liabilities	(694,011)	999,880	900,006
Amortization of streaming content assets	9,216,247	7,532,088	6,197,817
Depreciation and amortization of property, equipment and intangibles	103,579	83,157	71,911
Stock-based compensation expense	405,376	320,657	182,209
Other non-cash items	228,230	81,640	117,864
Foreign currency remeasurement loss (gain) on long-term debt	(45,576)	(73,953)	140,790
Deferred taxes	(94,443)	(85,520)	(208,688)
Changes in operating assets and liabilities:
Other current assets	(252,113)	(200,192)	(234,090)
Accounts payable	96,063	199,198	74,559
Accrued expenses and other liabilities	157,778	150,422	114,337
Deferred revenue	163,846	142,277	177,974
Other non-current assets and liabilities	(122,531)	2,062	(73,803)
Net cash used in operating activities	(2,887,322)	(2,680,479)	(1,785,948)
Cash flows from investing activities:
Purchases of property and equipment	(253,035)	(173,946)	(173,302)
Change in other assets	(134,029)	(165,174)	(60,409)
Purchases of short-term investments	0	0	(74,819)
Proceeds from sale of short-term investments	0	0	320,154
Proceeds from maturities of short-term investments	0	0	22,705
Net cash provided by (used in) investing activities	(387,064)	(339,120)	34,329
Cash flows from financing activities:
Proceeds from issuance of debt	4,469,306	3,961,852	3,020,510
Debt issuance costs	(36,134)	(35,871)	(32,153)
Proceeds from issuance of common stock	72,490	124,502	88,378
Other financing activities	0	(1,956)	255
Net cash provided by financing activities	4,505,662	4,048,527	3,076,990
Effect of exchange rate changes on cash, cash equivalents and restricted cash	469	(39,682)	29,848
Net increase in cash, cash equivalents and restricted cash	1,231,745	989,246	1,355,219
Cash and cash equivalents, beginning of year	3,812,041	2,822,795	1,467,576
Cash, cash equivalents and restricted cash, end of year	5,043,786	3,812,041	2,822,795
Supplemental disclosure:
Income taxes paid	400,658	131,069	113,591
Interest paid	$ 599,132	$ 375,831	$ 213,313

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 5,018,437	$ 3,794,483
Current content assets, net	0	5,151,186
Other current assets	1,160,067	748,466
Total current assets	6,178,504	9,694,135
Non-current content assets, net	24,504,567	14,951,141
Property and equipment, net	565,221	418,281
Other non-current assets	2,727,420	910,843
Total assets	33,975,712	25,974,400
Current liabilities:
Current content liabilities	4,413,561	4,681,562
Accounts payable	674,347	562,985
Accrued expenses and other liabilities	843,043	481,874
Deferred revenue	924,745	760,899
Total current liabilities	6,855,696	6,487,320
Non-current content liabilities	3,334,323	3,759,026
Long-term debt	14,759,260	10,360,058
Other non-current liabilities	1,444,276	129,231
Total liabilities	26,393,555	20,735,635
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2019 and 2018; no shares issued and outstanding at December 31, 2019 and 2018	0	0
Common stock, $0.001 par value; 4,990,000,000 shares authorized at December 31, 2019 and December 31, 2018, respectively; 438,806,649 and 436,598,597 issued and outstanding at December 31, 2019 and December 31, 2018, respectively	2,793,929	2,315,988
Accumulated other comprehensive loss	(23,521)	(19,582)
Retained earnings	4,811,749	2,942,359
Total stockholders’ equity	7,582,157	5,238,765
Total liabilities and stockholders’ equity	$ 33,975,712	$ 25,974,400

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized	4,990,000,000	4,990,000,000
Common stock, shares issued	438,806,649	436,598,597
Common stock, shares outstanding	438,806,649	436,598,597

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock and Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning Balance at Dec. 31, 2016	$ 2,679,800	$ 1,599,762	$ (48,565)	$ 1,128,603
Beginning Balance (in shares) at Dec. 31, 2016		430,054,212
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	558,929			558,929
Other comprehensive income (loss)	28,008		28,008
Issuance of common stock upon exercise of options	$ 89,425	$ 89,425
Issuance of common stock upon exercise of options (in shares)	3,338,474	3,338,474
Stock-based compensation expense	$ 182,209	$ 182,209
Ending Balance at Dec. 31, 2017	3,581,956	$ 1,871,396	(20,557)	1,731,117
Ending Balance (in shares) at Dec. 31, 2017		433,392,686
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,211,242			1,211,242
Other comprehensive income (loss)	975		975
Issuance of common stock upon exercise of options	$ 123,935	$ 123,935
Issuance of common stock upon exercise of options (in shares)	3,205,911	3,205,911
Stock-based compensation expense	$ 320,657	$ 320,657
Ending Balance at Dec. 31, 2018	5,238,765	$ 2,315,988	(19,582)	2,942,359
Ending Balance (in shares) at Dec. 31, 2018		436,598,597
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,866,916			1,866,916
Other comprehensive income (loss)	(3,939)		(3,939)
Issuance of common stock upon exercise of options	$ 72,565	$ 72,565
Issuance of common stock upon exercise of options (in shares)	2,208,052	2,208,052
Stock-based compensation expense	$ 405,376	$ 405,376
Ending Balance at Dec. 31, 2019	$ 7,582,157	$ 2,793,929	$ (23,521)	$ 4,811,749
Ending Balance (in shares) at Dec. 31, 2019		438,806,649

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Description of Business Netflix, Inc. (the “Company”) was incorporated on August 29, 1997 and began operations on April 14, 1998. The Company is the world’s leading subscription streaming entertainment service with over 167 million paid streaming memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials. Additionally, over two million members in the United States ("U.S.") subscribe to our legacy DVD-by-mail service. Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated. Reclassification Certain prior period amounts in the Consolidated Statements of Cash Flows and the Consolidated Balance Sheets have been reclassified to conform to the current period presentation. In the Consolidated Statements of Cash Flows, the amortization of DVD content assets has been reclassified into "Other non-cash items" within "Cash flows from operating activities". In addition, cash flows from the acquisition of DVD content assets have been reclassified into "Change in other assets" within "Cash flows from investing activities". In the Consolidated Balance Sheets, DVD content assets have been reclassified from "Non-current content assets, net" to "Other non-current assets" and DVD content liabilities have been reclassified from "Current content liabilities" and "Non-current content liabilities" to "Accrued expenses and other liabilities" and "Other non-current liabilities", respectively. There is no change to consolidated operating income, net income or cash flows as a result of this change in classification. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the streaming content asset amortization policy and the recognition and measurement of income tax assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results may differ from these estimates. Recently adopted accounting pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under prior GAAP. ASU 2016-02 requires that a lessee should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. The Company adopted ASU 2016-02 in the first quarter of 2019 utilizing the modified retrospective transition method through a cumulative-effect adjustment at the beginning of the first quarter of 2019. The Company has elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date and (3) initial direct costs for any existing leases as of the adoption date. The Company did not elect to apply the hindsight practical expedient when determining lease term and assessing impairment of right-of-use assets. The adoption of ASU 2016-02 on January 1, 2019 resulted in the recognition of right-of-use assets of approximately $743 million , lease liabilities for operating leases of approximately $813 million and a cumulative-effect adjustment on retained earnings of $2 million on its Consolidated Balance Sheets, with no material impact to its Consolidated Statements of Operations. See Note 3 for further information regarding the impact of the adoption of ASU 2016-02 on the Company's financial statements. In March 2019, the FASB issued ASU 2019-02, Improvements to Accounting for Costs of Films and License Agreements for Program Materials , in order to align the accounting for production costs of an episodic television series with the accounting for production costs of films by removing the content distinction for capitalization. ASU 2019-02 also requires that an entity reassess estimates of the use of a film in a film group and account for any changes prospectively. In addition, ASU 2019-02 requires that an entity test films and license agreements for program material for impairment at a film group level when the film or license agreements are predominantly monetized with other films and license agreements. ASU 2019-02 is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company early adopted ASU 2019-02 in the first quarter of 2019 and as such has included all content assets (licensed and produced) as "Non-current content assets, net" on its Consolidated Balance Sheets, beginning with the period of adoption. There was no material impact to its Consolidated Statements of Operations. See the Company's updated Streaming Content policy below for further details. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326) , in order to improve financial reporting of expected credit losses on financial instruments and other commitments to extend credit. ASU 2016-13 requires that an entity measure and recognize expected credit losses for financial assets held at amortized cost and replaces the incurred loss impairment methodology in current GAAP with a methodology that requires consideration of a broader range of information to estimate credit losses. While the Company is continuing to assess the potential impacts of ASU 2016-13, it does not expect ASU 2016-13 to have a material effect on its financial statements. Cash Equivalents The Company considers investments in instruments purchased with an original maturity of 90 days or less to be cash equivalents. The Company also classifies amounts in transit from payment processors for customer credit card and debit card transactions as cash equivalents. Streaming Content The Company acquires, licenses and produces content, including original programming, in order to offer members unlimited viewing of TV series and films. The content licenses are for a fixed fee and specific windows of availability. Payment terms for certain content licenses and the production of content require more upfront cash payments relative to the amortization expense. Payments for content, including additions to streaming assets and the changes in related liabilities, are classified within "Net cash used in operating activities" on the Consolidated Statements of Cash Flows. The Company recognizes content assets (licensed and produced) as “Non-current content assets, net” on the Consolidated Balance Sheets. For licenses, the Company capitalizes the fee per title and records a corresponding liability at the gross amount of the liability when the license period begins, the cost of the title is known and the title is accepted and available for streaming. For productions, the Company capitalizes costs associated with the production, including development costs, direct costs and production overhead. Participations and residuals are expensed in line with the amortization of production costs. Based on factors including historical and estimated viewing patterns, the Company amortizes the content assets (licensed and produced) in “Cost of revenues” on the Consolidated Statements of Operations over the shorter of each title's contractual window of availability or estimated period of use or ten years , beginning with the month of first availability. The amortization is on an accelerated basis, as the Company typically expects more upfront viewing, for instance due to additional merchandising and marketing efforts and film amortization is more accelerated than TV series amortization. On average, over 90% of a licensed or produced streaming content asset is expected to be amortized within four years after its month of first availability. The Company reviews factors impacting the amortization of the content assets on an ongoing basis. The Company's estimates related to these factors require considerable management judgment. The Company's business model is subscription based as opposed to a model generating revenues at a specific title level. Content assets (licensed and produced) are predominantly monetized as a group and therefore are reviewed in aggregate at a group level when an event or change in circumstances indicates a change in the expected usefulness of the content or that the fair value may be less than unamortized cost. To date, the Company has not identified any such event or changes in circumstances. If such changes are identified in the future, these aggregated content assets will be stated at the lower of unamortized cost or fair value. In addition, unamortized costs for assets that have been, or are expected to be, abandoned are written off. Property and Equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the shorter of the estimated useful lives of the respective assets, generally up to 30 years , or the expected lease term for leasehold improvements, if applicable. Trade Receivables Trade receivables consist primarily of amounts related to members and payment partners that collect membership fees on the Company's behalf. The Company evaluates the need for an allowance for doubtful accounts based on historical collection trends, the financial condition of its payment partners, and external market factors. Revenue Recognition The Company's primary source of revenues is from monthly membership fees. Members are billed in advance of the start of their monthly membership and revenues are recognized ratably over each monthly membership period. Revenues are presented net of the taxes that are collected from members and remitted to governmental authorities. The Company is the principal in all its relationships where partners, including consumer electronics (“CE”) manufacturers, multichannel video programming distributors (“MVPDs”), mobile operators and internet service providers (“ISPs”), provide access to the service as the Company retains control over service delivery to its members. Typically, payments made to the partners, such as for marketing, are expensed, but in the case where the price that the member pays is established by the partners and there is no standalone price for the Netflix service (for instance, in a bundle), these payments are recognized as a reduction of revenues. The following tables summarize streaming revenue, paid net membership additions, and ending paid memberships by region for the years December 31, 2019, 2018 and 2017, respectively: United States and Canada (UCAN) As of/ Year Ended December 31, 2019 2018 2017 (in thousands) Revenues $ 10,051,208 $ 8,281,532 $ 6,660,859 Paid net membership additions 2,905 6,335 5,512 Paid memberships at end of period 67,662 64,757 58,422 Europe, Middle East, and Africa (EMEA) As of/ Year Ended December 31, 2019 2018 2017 (in thousands) Revenues $ 5,543,067 $ 3,963,707 $ 2,362,813 Paid net membership additions 13,960 11,814 8,173 Paid memberships at end of period 51,778 37,818 26,004 Latin America (LATAM) As of/ Year Ended December 31, 2019 2018 2017 (in thousands) Revenues $ 2,795,434 $ 2,237,697 $ 1,642,616 Paid net membership additions 5,340 6,360 5,509 Paid memberships at end of period 31,417 26,077 19,717 Asia-Pacific (APAC) As of/ Year Ended December 31, 2019 2018 2017 (in thousands) Revenues $ 1,469,521 $ 945,816 $ 575,928 Paid net membership additions 5,626 4,106 2,360 Paid memberships at end of period 16,233 10,607 6,501 A paid membership (also referred to as a paid subscription) is defined as a membership that has the right to receive Netflix service following sign-up and a method of payment being provided, and that is not part of a free trial or other promotional offering by the Company to certain new and rejoining members. A membership is canceled and ceases to be reflected in the above metrics as of the effective cancellation date. Voluntary cancellations generally become effective at the end of the prepaid membership period. Involuntary cancellation of the service, as a result of a failed method of payment, becomes effective immediately. Memberships are assigned to territories based on the geographic location used at time of sign-up as determined by the Company’s internal systems, which utilize industry standard geo-location technology. Total U.S. revenues, inclusive of DVD revenues not reported in the tables above, were $9.5 billion , $8.0 billion and $6.6 billion for the years ended December 31, 2019, 2018 and 2017, respectively. DVD revenues were $0.3 billion , $0.4 billion , and $0.5 billion for the years ended December 31, 2019, 2018 and 2017, respectively. Deferred revenue consists of membership fees billed that have not been recognized, as well as gift and other prepaid memberships that have not been fully redeemed. As of December 31, 2019 , total deferred revenue was $925 million , the vast majority of which was related to membership fees billed that are expected to be recognized as revenue within the next month. The remaining deferred revenue balance, which is related to gift cards and other prepaid memberships, will be recognized as revenue over the period of service after redemption, which is expected to occur over the next 12 months. The $164 million increase in deferred revenue as compared to the balance of $761 million for the year ended December 31, 2018 , is a result of the increase in membership fees billed due to increased memberships and average monthly revenue per paying memberships. Marketing Marketing expenses consist primarily of advertising expenses and certain payments made to the Company’s partners, including CE manufacturers, MVPDs, mobile operators and ISPs. Advertising expenses include promotional activities such as digital and television advertising. Advertising costs are expensed as incurred. Advertising expenses were $1,879 million , $1,808 million and $1,091 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Marketing expenses also include payroll and related expenses for personnel that support the Company's marketing activities. Research and Development Research and development expenses consist of payroll and related costs incurred in making improvements to our service offerings. Research and development expenses were $1,673 million , $1,218 million and $981 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Income Taxes The Company records a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Deferred income taxes are recognized by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as net operating loss and tax credit carryforwards. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The measurement of deferred tax assets is reduced, if necessary, by a valuation allowance for any tax benefits for which future realization is uncertain. The Company did not recognize certain tax benefits from uncertain tax positions within the provision for income taxes. The Company may recognize a tax benefit only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. See Note 8 to the consolidated financial statements for further information regarding income taxes. Foreign Currency The functional currency for the Company's subsidiaries is determined based on the primary economic environment in which the subsidiary operates. The Company translates the assets and liabilities of its non-U.S. dollar functional currency subsidiaries into U.S. dollars using exchange rates in effect at the end of each period. Revenues and expenses for these subsidiaries are translated using rates that approximate those in effect during the period. Gains and losses from these translations are recognized in cumulative translation adjustment included in "Accumulated other comprehensive loss" in Stockholders’ equity on the Consolidated Balance Sheets. The Company remeasures monetary assets and liabilities that are not denominated in the functional currency at exchange rates in effect at the end of each period. Gains and losses from these remeasurements are recognized in interest and other income (expense). Foreign currency transactions resulted in a gain of $7 million for the year ended December 31, 2019 , and in a loss of $1 million and $128 million for the years ended December 31, 2018 and 2017 , respectively. Earnings Per Share Basic earnings per share is computed using the weighted-average number of outstanding shares of common stock during the period. Diluted earnings per share is computed using the weighted-average number of outstanding shares of common stock and, when dilutive, potential common shares outstanding during the period. Potential common shares consist of incremental shares issuable upon the assumed exercise of stock options. The computation of earnings per share is as follows: Year ended December 31, 2019 2018 2017 (in thousands, except per share data) Basic earnings per share: Net income $ 1,866,916 $ 1,211,242 $ 558,929 Shares used in computation: Weighted-average common shares outstanding 437,799 435,374 431,885 Basic earnings per share $ 4.26 $ 2.78 $ 1.29 Diluted earnings per share: Net income $ 1,866,916 $ 1,211,242 $ 558,929 Shares used in computation: Weighted-average common shares outstanding 437,799 435,374 431,885 Employee stock options 13,966 15,870 14,929 Weighted-average number of shares 451,765 451,244 446,814 Diluted earnings per share $ 4.13 $ 2.68 $ 1.25 Employee stock options with exercise prices greater than the average market price of the common stock were excluded from the diluted calculation as their inclusion would have been anti-dilutive. The following table summarizes the potential common shares excluded from the diluted calculation: Year ended December 31, 2019 2018 2017 (in thousands) Employee stock options 1,588 330 189 Stock-Based Compensation The Company grants fully vested non-qualified stock options to its employees on a monthly basis. As a result of immediate vesting, stock-based compensation expense is fully recognized on the grant date, and no estimate is required for post-vesting option forfeitures. See Note 7 to the consolidated financial statements for further information regarding stock-based compensation.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	12 Months Ended
	Dec. 31, 2019
Short-Term Investments And Fair Value Measurement [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The following tables summarize the Company's cash, cash equivalents and restricted cash as of December 31, 2019 and 2018 : As of December 31, 2019 Cash and cash equivalents Other Current Assets Non-current Assets Total (in thousands) Cash $ 3,103,525 $ 1,863 $ 22,161 $ 3,127,549 Level 1 securities: Money market funds 1,614,912 — 1,325 1,616,237 Level 2 securities: Foreign Time Deposits 300,000 — — 300,000 $ 5,018,437 $ 1,863 $ 23,486 $ 5,043,786 As of December 31, 2018 Cash and cash equivalents Non-current Assets Total (in thousands) Cash $ 2,572,685 $ 16,260 $ 2,588,945 Level 1 securities: Money market funds 1,221,798 1,298 1,223,096 $ 3,794,483 $ 17,558 $ 3,812,041 Other current assets include restricted cash for self insurance. Non-current assets include restricted cash related to workers compensation deposits and letter of credit agreements. Balances as of December 31, 2019 are included in cash, cash equivalents, and restricted cash on the Consolidated Statements of Cash Flows. Foreign time deposits of $300 million , classified as Level 2 securities, were included in Cash and cash equivalents on the Company's Balance Sheet as of December 31, 2019 . The fair value of cash equivalents included in the Level 2 category is based on observable inputs, such as quoted prices for similar assets at the measurement date; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly. See Note 4 to the consolidated financial statements for further information regarding the fair value of the Company’s senior notes.

Balance Sheet Components

Balance Sheet Components	12 Months Ended
	Dec. 31, 2019
Balance Sheet Components Disclosure [Abstract]
Balance Sheet Components	Balance Sheet Components Content Assets Content assets consisted of the following: As of December 31, 2019 2018 (in thousands) Licensed content, net $ 14,703,352 $ 14,081,463 Produced content, net Released, less amortization 4,382,685 2,403,896 In production 4,750,664 3,305,126 In development and pre-production 667,866 311,842 9,801,215 6,020,864 Total $ 24,504,567 $ 20,102,327 Current content assets, net $ — $ 5,151,186 Non-current content assets, net $ 24,504,567 $ 14,951,141 As of December 31, 2019 , approximately $5,793 million , $3,733 million , and $2,518 million of the $14,703 million unamortized cost of the licensed content is expected to be amortized in each of the next three years. As of December 31, 2019 , approximately $1,552 million , $1,187 million , and $882 million of the $4,383 million unamortized cost of the produced content that has been released is expected to be amortized in each of the next three years. As of December 31, 2019 , the amount of accrued participations and residuals was not material. The following table represents the amortization of streaming content assets: Year ended December 31, 2019 2018 2017 (in thousands) Licensed content $ 7,242,799 $ 6,511,689 $ 5,680,373 Produced content 1,973,448 1,020,399 517,444 Total streaming content $ 9,216,247 $ 7,532,088 $ 6,197,817 Property and Equipment, Net Property and equipment and accumulated depreciation consisted of the following: As of December 31, Estimated Useful Lives (in Years) 2019 2018 (in thousands) Land $ 6,125 $ 6,125 Buildings 33,141 73,468 30 years Leasehold improvements 354,999 282,028 Over life of lease Furniture and fixtures 87,465 63,667 3-15 years Information technology 243,565 224,296 3 years Corporate aircraft 108,995 62,560 8 years Machinery and equipment 46,415 55,108 3-5 years Capital work-in-progress 100,521 19,548 Property and equipment, gross 981,226 786,800 Less: Accumulated depreciation (416,005 ) (368,519 ) Property and equipment, net $ 565,221 $ 418,281 Leases The Company has entered into operating leases primarily for real estate. These leases generally have terms which range from 1 year to 15 years, and often include one or more options to renew. These renewal terms can extend the lease term from 1 year to 15 years, and are included in the lease term when it is reasonably certain that the Company will exercise the option. These operating leases are included in "Other non-current assets" on the Company's December 31, 2019 Consolidated Balance Sheets, and represent the Company’s right to use the underlying asset for the lease term. The Company’s obligations to make lease payments are included in "Accrued expenses and other liabilities" and "Other non-current liabilities" on the Company's December 31, 2019 Consolidated Balance Sheets. Based on the present value of the lease payments for the remaining lease term of the Company's existing leases, the Company recognized right-of-use assets of approximately $743 million and lease liabilities for operating leases of approximately $813 million on January 1, 2019. Operating lease right-of-use assets and liabilities commencing after January 1, 2019 are recognized at commencement date based on the present value of lease payments over the lease term. As of December 31, 2019 , total right-of-use assets and operating lease liabilities were approximately $1,532 million and $1,613 million , respectively. The Company has entered into various short-term operating leases, primarily for marketing billboards, with an initial term of twelve months or less. These leases are not recorded on the Company's Consolidated Balance Sheets. All operating lease expense is recognized on a straight-line basis over the lease term. For the year ended December 31, 2019 , the Company recognized approximately $448 million in total lease costs, which was comprised of $218 million in operating lease costs for right-of-use assets and $230 million in short-term lease costs related to short-term operating leases. Prior to the adoption of ASU 2016-02 in the first quarter of 2019, the Company recognized minimum rental expense on a straight-line basis over the lease term. The Company used the date of initial possession to begin amortization, which is generally when the Company entered the space and began to make improvements in preparation for intended use. For scheduled rent escalation clauses during the lease terms or for rental payments commencing at a date other than the date of initial occupancy, the Company recorded minimum rental expenses on a straight-line basis over the terms of the leases in the Consolidated Statements of Operations. Rent expense associated with operating leases was $107 million and $75 million for the years ended December 31, 2018 and December 31, 2017, respectively. Because the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present value of the lease payments. The Company has certain contracts for real estate and marketing which may contain lease and non-lease components which it has elected to treat as a single lease component. Information related to the Company's right-of-use assets and related lease liabilities were as follows: Year ended December 31, 2019 (in thousands) Cash paid for operating lease liabilities $ 192,084 Right-of-use assets obtained in exchange for new operating lease obligations (1) 1,672,462 (1) Balance includes $743 million for operating leases existing on January 1, 2019. As of December 31, 2019 Weighted-average remaining lease term 8.8 years Weighted-average discount rate 5.0 % Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands): Due in 12 month period ended December 31, 2020 $ 248,636 2021 246,148 2022 226,020 2023 211,387 2024 194,506 Thereafter 912,457 2,039,154 Less imputed interest (425,920 ) Total lease liabilities 1,613,234 Current operating lease liabilities 190,622 Non-current operating lease liabilities 1,422,612 Total lease liabilities $ 1,613,234 The Company has additional operating leases for real estate of $699 million which have not commenced as of December 31, 2019 , and as such, have not been recognized on the Company's Consolidated Balance Sheets. These operating leases are expected to commence in 2020 with lease terms between 1 year and 15 years. Other Current Assets Other current assets consisted of the following: As of December 31, December 31, (in thousands) Trade receivables $ 454,399 $ 362,712 Prepaid expenses 180,999 178,833 Other receivables 524,669 206,921 Total other current assets $ 1,160,067 $ 748,466

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt As of December 31, 2019 , the Company had aggregate outstanding long-term notes of $14,759 million , net of $114 million of issuance costs, with varying maturities (the "Notes"). Each of the Notes were issued at par and are senior unsecured obligations of the Company. Interest is payable semi-annually at fixed rates. A portion of the outstanding long-term notes is denominated in foreign currency (comprised of €4,700 million ) and is remeasured into U.S. dollars at each balance sheet date (with remeasurement gain totaling $46 million for the year ended December 31, 2019 ). The following table provides a summary of the Company's outstanding long-term debt and the fair values based on quoted market prices in less active markets as of December 31, 2019 and December 31, 2018 : Level 2 Fair Value as of Principal Amount at Par Issuance Date Maturity Interest Due Dates December 31, December 31, (in millions) (in millions) 5.375% Senior Notes $ 500 February 2013 February 2021 February and August $ 518 $ 509 5.500% Senior Notes 700 February 2015 February 2022 April and October 744 706 5.750% Senior Notes 400 February 2014 March 2024 March and September 444 407 5.875% Senior Notes 800 February 2015 February 2025 April and October 896 812 4.375% Senior Notes 1,000 October 2016 November 2026 May and November 1,026 915 3.625% Senior Notes (1) 1,459 May 2017 May 2027 May and November 1,565 1,446 4.875% Senior Notes 1,600 October 2017 April 2028 April and October 1,670 1,464 5.875% Senior Notes 1,900 April 2018 November 2028 May and November 2,111 1,851 4.625% Senior Notes (2) 1,234 October 2018 May 2029 May and November 1,378 1,241 6.375% Senior Notes 800 October 2018 May 2029 May and November 916 797 3.875% Senior Notes (3) 1,346 April 2019 November 2029 June and December 1,429 — 5.375% Senior Notes 900 April 2019 November 2029 June and December 960 — 3.625% Senior Notes (4) 1,234 October 2019 June 2030 June and December 1,273 — 4.875% Senior Notes 1,000 October 2019 June 2030 June and December 1,019 — $ 14,873 (1) Debt is denominated in euro with a €1,300 million principal amount. Total proceeds were $1,421 million . (2) Debt is denominated in euro with a €1,100 million principal amount. Total proceeds were $1,262 million . (3) Debt is denominated in euro with a €1,200 million principal amount. Total proceeds were $1,343 million . (4) Debt is denominated in euro with a €1,100 million principal amount. Total proceeds were $1,226 million . The expected timing of principal and interest payments for these Notes are as follows: As of December 31, December 31, 2018 (in thousands) Less than one year $ 736,969 $ 538,384 Due after one year and through three years 2,581,471 1,550,581 Due after three years and through five years 1,705,201 1,646,101 Due after five years 15,699,800 11,138,129 Total debt obligations $ 20,723,441 $ 14,873,195 Each of the Notes are repayable in whole or in part upon the occurrence of a change of control, at the option of the holders, at a purchase price in cash equal to 101% of the principal plus accrued interest. The Company may redeem the Notes prior to maturity in whole or in part at an amount equal to the principal amount thereof plus accrued and unpaid interest and an applicable premium. The Notes include, among other terms and conditions, limitations on the Company's ability to create, incur or allow certain liens; enter into sale and lease-back transactions; create, assume, incur or guarantee additional indebtedness of certain of the Company's subsidiaries; and consolidate or merge with, or convey, transfer or lease all or substantially all of the Company's and its subsidiaries assets, to another person. As of December 31, 2019 and December 31, 2018 , the Company was in compliance with all related covenants. Revolving Credit Facility In July 2017 , the Company entered into a $500 million unsecured revolving credit facility (“Revolving Credit Agreement”), with an uncommitted incremental facility to increase the amount of the revolving credit facility by up to an additional $250 million , subject to certain terms and conditions. On March 29, 2019, the agreement was amended to extend the maturity date from July 27, 2022 to March 29, 2024 and to increase the size of the credit facility to $750 million , without impacting the existing uncommitted incremental facility. Revolving loans may be borrowed, repaid and reborrowed until March 29, 2024, at which time all amounts borrowed must be repaid. The Company may use the proceeds of future borrowings under the Revolving Credit Agreement for working capital and general corporate purposes. As of December 31, 2019 , no amounts have been borrowed under the Revolving Credit Agreement. The borrowings under the Revolving Credit Agreement bear interest, at the Company’s option, of either (i) a floating rate equal to a base rate (the “Alternate Base Rate”) or (ii) a rate equal to an adjusted London interbank offered rate (the “Adjusted LIBO Rate”), plus a margin of 0.75% . The Alternate Base Rate is defined as the greatest of (A) the rate of interest published by the Wall Street Journal, from time to time, as the prime rate, (B) the federal funds rate, plus 0.500% and (C) the Adjusted LIBO Rate for a one-month interest period, plus 1.00% . The Adjusted LIBO Rate is defined as the London interbank offered rate for deposits in U.S. dollars, for the relevant interest period, adjusted for statutory reserve requirements, but in no event shall the Adjusted LIBO Rate be less than 0.00% per annum. Regulatory authorities that oversee financial markets have announced that after the end of 2021, they would no longer compel banks currently reporting information used to set the LIBO Rate to continue to make rate submissions. As a result, it is possible that beginning in 2022, the LIBO Rate will no longer be available as a reference rate. Under the terms of the Company's Revolving Credit Agreement, in the event of the discontinuance of the LIBO Rate, a mutually agreed-upon alternate benchmark rate will be established to replace the LIBO Rate. The Company and Lenders shall in good faith establish an alternate benchmark rate which places the Lenders and the Company in the same economic position that existed immediately prior to the discontinuation of the LIBO Rate. The Company does not anticipate that the discontinuance of the LIBO Rate will materially impact its liquidity or financial position. The Company is also obligated to pay a commitment fee on the undrawn amounts of the Revolving Credit Agreement at an annual rate of 0.10% . The Revolving Credit Agreement requires the Company to comply with certain covenants, including covenants that limit or restrict the ability of the Company’s subsidiaries to incur debt and limit or restrict the ability of the Company and its subsidiaries to grant liens and enter into sale and leaseback transactions; and, in the case of the Company or a guarantor, merge, consolidate, liquidate, dissolve or sell, transfer, lease or otherwise dispose of all or substantially all of the assets of the Company and its subsidiaries, taken as a whole. As of December 31, 2019 , the Company was in compliance with all related covenants.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Streaming Content At December 31, 2019 , the Company had $19.5 billion of obligations comprised of $4.4 billion included in "Current content liabilities" and $3.3 billion of "Non-current content liabilities" on the Consolidated Balance Sheets and $11.8 billion of obligations that are not reflected on the Consolidated Balance Sheets as they did not yet meet the criteria for asset recognition. At December 31, 2018 , the Company had $19.3 billion of obligations comprised of $4.7 billion included in "Current content liabilities" and $3.8 billion of "Non-current content liabilities" on the Consolidated Balance Sheets and $10.8 billion of obligations that are not reflected on the Consolidated Balance Sheets as they did not yet meet the criteria for asset recognition. The expected timing of payments for these streaming content obligations is as follows: As of December 31, 2019 2018 (in thousands) Less than one year $ 8,477,367 $ 8,611,398 Due after one year and through 3 years 8,352,731 8,841,561 Due after 3 years and through 5 years 2,041,340 1,684,582 Due after 5 years 618,644 148,334 Total streaming content obligations $ 19,490,082 $ 19,285,875 Content obligations include amounts related to the acquisition, licensing and production of streaming content. Obligations that are in non-U.S. dollar currencies are translated to the U.S. dollar at period end rates. An obligation for the production of content includes non-cancelable commitments under creative talent and employment agreements as well as other production related commitments. An obligation for the acquisition and licensing of content is incurred at the time the Company enters into an agreement to obtain future titles. Once a title becomes available, a content liability is recorded on the Consolidated Balance Sheets. Certain agreements include the obligation to license rights for unknown future titles, the ultimate quantity and/or fees for which are not yet determinable as of the reporting date. Traditional film output deals, or certain TV series license agreements where the number of seasons to be aired is unknown, are examples of such license agreements. The Company does not include any estimated obligation for these future titles beyond the known minimum amount. However, the unknown obligations are expected to be significant. Legal Proceedings From time to time, in the normal course of its operations, the Company is subject to litigation matters and claims, including claims relating to employee relations, business practices and patent infringement. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict and the Company's view of these matters may change in the future as the litigation and events related thereto unfold. The Company expenses legal fees as incurred. The Company records a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. An unfavorable outcome to any legal matter, if material, could have an adverse effect on the Company's operations or its financial position, liquidity or results of operations. The Company is involved in litigation matters not listed herein but does not consider the matters to be material either individually or in the aggregate at this time. The Company's view of the matters not listed may change in the future as the litigation and events related thereto unfold.

Guarantees_Indemnification Obli

Guarantees—Indemnification Obligations	12 Months Ended
	Dec. 31, 2019
Guarantees [Abstract]
Guarantees—Indemnification Obligations	Guarantees—Indemnification Obligations In the ordinary course of business, the Company has entered into contractual arrangements under which it has agreed to provide indemnification of varying scope and terms to business partners and other parties with respect to certain matters, including, but not limited to, losses arising out of the Company’s breach of such agreements and out of intellectual property infringement claims made by third parties. In these circumstances, payment may be conditional on the other party making a claim pursuant to the procedures specified in the particular contract. The Company’s obligations under these agreements may be limited in terms of time or amount, and in some instances, the Company may have recourse against third parties for certain payments. In addition, the Company has entered into indemnification agreements with its directors and certain of its officers that will require it, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The terms of such obligations vary. It is not possible to make a reasonable estimate of the maximum potential amount of future payments under these or similar agreements due to the conditional nature of the Company’s obligations and the unique facts and circumstances involved in each particular agreement. No amount has been accrued in the accompanying consolidated financial statements with respect to these indemnification guarantees.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Voting Rights The holders of each share of common stock shall be entitled to one vote per share on all matters to be voted upon by the Company’s stockholders. Stock Option Plans In June 2011, the Company adopted the 2011 Stock Plan. The 2011 Stock Plan provides for the grant of incentive stock options to employees and for the grant of non-statutory stock options, stock appreciation rights, restricted stock and restricted stock units to employees, directors and consultants. A summary of the activities related to the Company’s stock option plans is as follows: Shares Available for Grant Options Outstanding Weighted- Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value (in Thousands) Number of Shares Weighted- Average Exercise Price Balances as of December 31, 2016 13,289,953 22,437,347 $ 44.83 Granted (2,550,038 ) 2,550,038 159.56 Exercised — (3,338,474 ) 26.79 Expired — (1,561 ) 3.25 Balances as of December 31, 2017 10,739,915 21,647,350 $ 61.13 Granted (2,039,974 ) 2,039,974 311.66 Exercised — (3,205,911 ) 38.66 Expired — (2,135 ) $ 4.60 Balances as of December 31, 2018 8,699,941 20,479,278 $ 89.61 Granted (2,588,380 ) 2,588,380 320.66 Exercised — (2,208,052 ) 32.88 Expired — (280 ) 6.74 Balances as of December 31, 2019 6,111,561 20,859,326 $ 124.28 5.57 $ 4,230,013 Vested and exercisable at December 31, 2019 20,859,326 $ 124.28 5.57 $ 4,230,013 The aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of 2019 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on the last trading day of 2019 . This amount changes based on the fair market value of the Company’s common stock. Total intrinsic value of options exercised for the years ended December 31, 2019 , 2018 and 2017 was $666 million , $863 million and $464 million , respectively. Cash received from option exercises for the years ended December 31, 2019 , 2018 and 2017 was $72 million , $125 million and $88 million , respectively. Stock-Based Compensation Stock options granted are exercisable for the full ten year contractual term regardless of employment status. The following table summarizes the assumptions used to value option grants using the lattice-binomial model and the valuation data: Year Ended December 31, 2019 2018 2017 Dividend yield — % — % — % Expected volatility 37% - 41% 40% - 42% 34% - 37% Risk-free interest rate 1.74% - 2.74% 2.61% - 3.09% 2.24% - 2.45% Suboptimal exercise factor 3.07 - 3.23 2.80 - 3.01 2.48 - 2.63 Valuation data: Weighted-average fair value (per share) $ 156.60 $ 157.19 $ 71.45 Total stock-based compensation expense (in thousands) 405,376 320,657 182,209 Total income tax impact on provision (in thousands) 90,856 67,575 61,842 The Company considers several factors in determining the suboptimal exercise factor, including the historical and estimated option exercise behavior. The Company calculates expected volatility based solely on implied volatility. The Company believes that implied volatility of publicly traded options in its common stock is more reflective of market conditions, and given consistently high trade volumes of the options, can reasonably be expected to be a better indicator of expected volatility than historical volatility of its common stock. In valuing shares issued under the Company’s employee stock option plans, the Company bases the risk-free interest rate on U.S. Treasury zero-coupon issues with terms similar to the contractual term of the options. The Company does not anticipate paying any cash dividends in the foreseeable future and therefore uses an expected dividend yield of zero in the option valuation model. The Company does not use a post-vesting termination rate as options are fully vested upon grant date. Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated balances of other comprehensive loss, net of tax: Foreign currency (in thousands) Balances as of December 31, 2017 $ (20,557 ) Other comprehensive income before reclassifications 975 Net decrease in accumulated other comprehensive loss 975 Balances as of December 31, 2018 $ (19,582 ) Other comprehensive loss before reclassifications (3,939 ) Net increase in accumulated other comprehensive loss (3,939 ) Balances as of December 31, 2019 $ (23,521 )

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before provision for income taxes was as follows: Year Ended December 31, 2019 2018 2017 (in thousands) United States $ 1,719,326 $ 845,402 $ 144,100 Foreign 342,905 381,056 341,221 Income before income taxes $ 2,062,231 $ 1,226,458 $ 485,321 The components of provision for (benefit from) income taxes for all periods presented were as follows: Year Ended December 31, 2019 2018 2017 (in thousands) Current tax provision: Federal $ 21,498 $ (22,176 ) $ 54,245 State 45,228 (10,234 ) (7,601 ) Foreign 223,328 133,146 88,436 Total current 290,054 100,736 135,080 Deferred tax provision: Federal (28,003 ) (37,396 ) (153,963 ) State (54,507 ) (52,391 ) (52,695 ) Foreign (12,229 ) 4,267 (2,030 ) Total deferred (94,739 ) (85,520 ) (208,688 ) Provision for (benefit from) income taxes $ 195,315 $ 15,216 $ (73,608 ) In connection with the Tax Cuts and Jobs Act of 2017 the Company simplified its global corporate structure, effective April 1, 2019. The tax impacts of such simplifications were not material to the financial statements as a whole. During the fourth quarter of 2019, the United States Treasury issued final regulations with respect to certain aspects related to the Tax Cuts and Jobs Act of 2017. Additional guidance provided in these regulations resulted in a tax adjustment in the fourth quarter of 2019. We paid U.S. Federal taxes for the full year inclusive of this fourth quarter adjustment. A reconciliation of the provision for income taxes, with the amount computed by applying the statutory Federal income tax rate to income before income taxes is as follows: Year Ended December 31, 2019 2018 2017 (in thousands) Expected tax expense at U.S. Federal statutory rates $ 433,059 $ 257,556 $ 169,860 State income taxes, net of Federal income tax effect 47,909 33,611 6,404 Foreign earnings at other than U.S. rates 56,969 63,519 (87,514 ) Federal and California R&D tax credits (134,523 ) (140,749 ) (79,868 ) Excess tax benefits on stock-based compensation (148,693 ) (191,323 ) (157,888 ) Impact of the Tax Cuts and Jobs Act of 2017 Rate Change / Transition Tax — (71,516 ) 79,077 Tax effects of the Tax Cuts and Jobs Act (127,534 ) 43,099 — Global corporate structure simplification 35,939 — — Nondeductible Officers Compensation 24,111 14,377 28 Other 8,078 6,642 (3,707 ) Provision for (benefit from) income taxes $ 195,315 $ 15,216 $ (73,608 ) Effective Tax Rate 9 % 1 % (15 )% The components of deferred tax assets and liabilities were as follows: As of December 31, 2019 2018 (in thousands) Deferred tax assets: Stock-based compensation $ 258,376 $ 190,451 Federal and California tax R&D credits 408,715 369,023 Foreign tax credits 137,818 218,026 Accruals and reserves 42,450 36,396 Operating leases 349,208 — Other 6,510 27,203 Gross deferred tax assets 1,203,077 841,099 Depreciation & amortization (80,921 ) (151,678 ) Operating leases (329,168 ) — Gross deferred tax liabilities (410,089 ) (151,678 ) Valuation allowance (134,782 ) (124,996 ) Net deferred tax assets $ 658,206 $ 564,425 All deferred tax assets are classified as “Other non-current assets” on the Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018 . In evaluating its ability to realize the net deferred tax assets, the Company considered all available positive and negative evidence, including its past operating results and the forecast of future market growth, forecasted earnings, future taxable income, and prudent and feasible tax planning strategies. As of December 31, 2019 , the valuation allowance of $135 million was primarily related to certain foreign tax credits that are not likely to be realized. As of December 31, 2019 , the Company's Federal R&D tax credit and state tax credit carryforwards for tax return purposes were $251 million , and $256 million , respectively. The Federal R&D tax credit carryforwards expire through 2039 . State tax credit carryforwards can be carried forward indefinitely. As of December 31, 2019 , the Company's foreign tax credit carryforwards for U.S. and non-U.S. tax return purposes were $138 million of which a $135 million valuation allowance is placed against non-U.S. foreign tax credits and a $3 million carryforward on the U.S. tax return. The Federal foreign tax credit carryovers expire through 2029. The unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year are classified as “Other non-current liabilities” and a reduction of deferred tax assets which is classified as "Other non-current assets" in the Consolidated Balance Sheets. As of December 31, 2019 , the total amount of gross unrecognized tax benefits was $67 million , of which $57 million , if recognized, would favorably impact the Company’s effective tax rate. As of December 31, 2018 , the total amount of gross unrecognized tax benefits was $48 million , of which $44 million , if recognized, would favorably impact the Company’s effective tax rate. The aggregate changes in the Company’s total gross amount of unrecognized tax benefits are summarized as follows (in thousands): Balances as of December 31, 2017 $ 42,902 Increases related to tax positions taken during prior periods 4,486 Decreases related to tax positions taken during prior periods (17,922 ) Increases related to tax positions taken during the current period 18,068 Balances as of December 31, 2018 47,534 Increases related to tax positions taken during prior periods 925 Decreases related to tax positions taken during prior periods (417 ) Increases related to tax positions taken during the current period 18,826 Decreases related to expiration of statute of limitations (100 ) Balances as of December 31, 2019 $ 66,768 The Company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes and in “Other non-current liabilities” in the Consolidated Balance Sheets. Interest and penalties included in the Company's provision for income taxes were not material in all the periods presented. The Company files U.S. Federal, state and foreign tax returns. The Company is currently under examination by the IRS for 2016, 2017, and 2018. The 2009 through 2018 state tax returns are subject to examination by state tax authorities. The Company is also currently under examination in the UK for 2018. The company has no other significant foreign jurisdiction audits underway. The years 2014 through 2018 remain subject to examination by foreign tax authorities. Given the potential outcome of the current examinations as well as the impact of the current examinations on the potential expiration of the statute of limitations, it is reasonably possible that the balance of unrecognized tax benefits could significantly change within the next twelve months. However, an estimate of the range of reasonably possible adjustments cannot be made at this time.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit Plan The Company maintains a 401(k) savings plan covering substantially all of its employees. Eligible employees may contribute up to 80% of their annual salary through payroll deductions, but not more than the statutory limits set by the Internal Revenue Service. The Company matches employee contributions at the discretion of the Board. During 2019 , 2018 and 2017 , the Company’s matching contributions totaled $47 million , $27 million and $20 million , respectively.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment and Geographic Information	Segment and Geographic Information Effective in the fourth quarter of 2019, the Company operates as one operating segment. The Company's chief operating decision maker ("CODM") is its chief executive officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. Historically, the Company reported contribution profit (loss) for three segments: Domestic streaming, International streaming and Domestic DVD, which was reflective of how the Company’s CODM reviewed financial information for purposes of making operating decisions, assessing financial performance and allocating resources. Because the Company increasingly obtains multi-territory or global rights for streaming content, contribution profit (loss) on a regional basis is no longer a meaningful metric reviewed by the CODM or used in the allocation of resources. Instead, the CODM now focuses on the Company's global operating margin as the primary measure of profitability and basis for allocation of resources. Total U.S. revenues were $9.5 billion , $8.0 billion and $6.6 billion for the years ended December 31, 2019, 2018 and 2017, respectively. See Note 1 Revenue Recognition for additional information about streaming revenue by region. The Company's long-lived tangible assets were located as follows: As of December 31, 2019 2018 (in thousands) United States $ 1,503,459 $ 381,947 International 594,047 36,334

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited) December 31 September 30 June 30 March 31 (in thousands, except for per share data) 2019 Total revenues $ 5,467,434 $ 5,244,905 $ 4,923,116 $ 4,520,992 Gross profit 2,001,411 2,146,986 1,917,459 1,650,378 Net income 586,970 665,244 270,650 344,052 Earnings per share: Basic $ 1.34 $ 1.52 $ 0.62 $ 0.79 Diluted 1.30 1.47 0.60 0.76 2018 Total revenues $ 4,186,841 $ 3,999,374 $ 3,907,270 $ 3,700,856 Gross profit 1,453,441 1,468,246 1,504,839 1,400,277 Net income 133,934 402,835 384,349 290,124 Earnings per share: Basic $ 0.31 $ 0.92 $ 0.88 $ 0.67 Diluted 0.30 0.89 0.85 0.64

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the streaming content asset amortization policy and the recognition and measurement of income tax assets and liabilities. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates these assumptions, judgments and estimates. Actual results may differ from these estimates.
Recent accounting pronouncements	Recently adopted accounting pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under prior GAAP. ASU 2016-02 requires that a lessee should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. The Company adopted ASU 2016-02 in the first quarter of 2019 utilizing the modified retrospective transition method through a cumulative-effect adjustment at the beginning of the first quarter of 2019. The Company has elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date and (3) initial direct costs for any existing leases as of the adoption date. The Company did not elect to apply the hindsight practical expedient when determining lease term and assessing impairment of right-of-use assets. The adoption of ASU 2016-02 on January 1, 2019 resulted in the recognition of right-of-use assets of approximately $743 million , lease liabilities for operating leases of approximately $813 million and a cumulative-effect adjustment on retained earnings of $2 million on its Consolidated Balance Sheets, with no material impact to its Consolidated Statements of Operations. See Note 3 for further information regarding the impact of the adoption of ASU 2016-02 on the Company's financial statements. In March 2019, the FASB issued ASU 2019-02, Improvements to Accounting for Costs of Films and License Agreements for Program Materials , in order to align the accounting for production costs of an episodic television series with the accounting for production costs of films by removing the content distinction for capitalization. ASU 2019-02 also requires that an entity reassess estimates of the use of a film in a film group and account for any changes prospectively. In addition, ASU 2019-02 requires that an entity test films and license agreements for program material for impairment at a film group level when the film or license agreements are predominantly monetized with other films and license agreements. ASU 2019-02 is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company early adopted ASU 2019-02 in the first quarter of 2019 and as such has included all content assets (licensed and produced) as "Non-current content assets, net" on its Consolidated Balance Sheets, beginning with the period of adoption. There was no material impact to its Consolidated Statements of Operations. See the Company's updated Streaming Content policy below for further details. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326) , in order to improve financial reporting of expected credit losses on financial instruments and other commitments to extend credit. ASU 2016-13 requires that an entity measure and recognize expected credit losses for financial assets held at amortized cost and replaces the incurred loss impairment methodology in current GAAP with a methodology that requires consideration of a broader range of information to estimate credit losses. While the Company is continuing to assess the potential impacts of ASU 2016-13, it does not expect ASU 2016-13 to have a material effect on its financial statements.
Cash Equivalents	Cash Equivalents The Company considers investments in instruments purchased with an original maturity of 90 days or less to be cash equivalents. The Company also classifies amounts in transit from payment processors for customer credit card and debit card transactions as cash equivalents.
Streaming Content	Streaming Content The Company acquires, licenses and produces content, including original programming, in order to offer members unlimited viewing of TV series and films. The content licenses are for a fixed fee and specific windows of availability. Payment terms for certain content licenses and the production of content require more upfront cash payments relative to the amortization expense. Payments for content, including additions to streaming assets and the changes in related liabilities, are classified within "Net cash used in operating activities" on the Consolidated Statements of Cash Flows. The Company recognizes content assets (licensed and produced) as “Non-current content assets, net” on the Consolidated Balance Sheets. For licenses, the Company capitalizes the fee per title and records a corresponding liability at the gross amount of the liability when the license period begins, the cost of the title is known and the title is accepted and available for streaming. For productions, the Company capitalizes costs associated with the production, including development costs, direct costs and production overhead. Participations and residuals are expensed in line with the amortization of production costs. Based on factors including historical and estimated viewing patterns, the Company amortizes the content assets (licensed and produced) in “Cost of revenues” on the Consolidated Statements of Operations over the shorter of each title's contractual window of availability or estimated period of use or ten years , beginning with the month of first availability. The amortization is on an accelerated basis, as the Company typically expects more upfront viewing, for instance due to additional merchandising and marketing efforts and film amortization is more accelerated than TV series amortization. On average, over 90% of a licensed or produced streaming content asset is expected to be amortized within four years after its month of first availability. The Company reviews factors impacting the amortization of the content assets on an ongoing basis. The Company's estimates related to these factors require considerable management judgment. The Company's business model is subscription based as opposed to a model generating revenues at a specific title level. Content assets (licensed and produced) are predominantly monetized as a group and therefore are reviewed in aggregate at a group level when an event or change in circumstances indicates a change in the expected usefulness of the content or that the fair value may be less than unamortized cost. To date, the Company has not identified any such event or changes in circumstances. If such changes are identified in the future, these aggregated content assets will be stated at the lower of unamortized cost or fair value. In addition, unamortized costs for assets that have been, or are expected to be, abandoned are written off.
Property and Equipment	Property and Equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the shorter of the estimated useful lives of the respective assets, generally up to 30 years , or the expected lease term for leasehold improvements, if applicable.
Trade Receivables	Trade Receivables Trade receivables consist primarily of amounts related to members and payment partners that collect membership fees on the Company's behalf. The Company evaluates the need for an allowance for doubtful accounts based on historical collection trends, the financial condition of its payment partners, and external market factors.
Revenue Recognition	Revenue Recognition
Marketing	Marketing
Research and Development	Research and Development
Income Taxes	Income Taxes The Company records a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Deferred income taxes are recognized by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as net operating loss and tax credit carryforwards. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The measurement of deferred tax assets is reduced, if necessary, by a valuation allowance for any tax benefits for which future realization is uncertain. The Company did not recognize certain tax benefits from uncertain tax positions within the provision for income taxes. The Company may recognize a tax benefit only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50%
Foreign Currency	Foreign Currency The functional currency for the Company's subsidiaries is determined based on the primary economic environment in which the subsidiary operates. The Company translates the assets and liabilities of its non-U.S. dollar functional currency subsidiaries into U.S. dollars using exchange rates in effect at the end of each period. Revenues and expenses for these subsidiaries are translated using rates that approximate those in effect during the period. Gains and losses from these translations are recognized in cumulative translation adjustment included in "Accumulated other comprehensive loss" in Stockholders’ equity on the Consolidated Balance Sheets.
Earnings Per Share	Earnings Per Share
Stock-Based Compensation	Stock-Based Compensation

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Streaming Revenue, Paid net Membership Additions, and Ending Paid Memberships by Region	The following tables summarize streaming revenue, paid net membership additions, and ending paid memberships by region for the years December 31, 2019, 2018 and 2017, respectively: United States and Canada (UCAN) As of/ Year Ended December 31, 2019 2018 2017 (in thousands) Revenues $ 10,051,208 $ 8,281,532 $ 6,660,859 Paid net membership additions 2,905 6,335 5,512 Paid memberships at end of period 67,662 64,757 58,422 Europe, Middle East, and Africa (EMEA) As of/ Year Ended December 31, 2019 2018 2017 (in thousands) Revenues $ 5,543,067 $ 3,963,707 $ 2,362,813 Paid net membership additions 13,960 11,814 8,173 Paid memberships at end of period 51,778 37,818 26,004 Latin America (LATAM) As of/ Year Ended December 31, 2019 2018 2017 (in thousands) Revenues $ 2,795,434 $ 2,237,697 $ 1,642,616 Paid net membership additions 5,340 6,360 5,509 Paid memberships at end of period 31,417 26,077 19,717 Asia-Pacific (APAC) As of/ Year Ended December 31, 2019 2018 2017 (in thousands) Revenues $ 1,469,521 $ 945,816 $ 575,928 Paid net membership additions 5,626 4,106 2,360 Paid memberships at end of period 16,233 10,607 6,501
Computation of Earnings Per Share	The computation of earnings per share is as follows: Year ended December 31, 2019 2018 2017 (in thousands, except per share data) Basic earnings per share: Net income $ 1,866,916 $ 1,211,242 $ 558,929 Shares used in computation: Weighted-average common shares outstanding 437,799 435,374 431,885 Basic earnings per share $ 4.26 $ 2.78 $ 1.29 Diluted earnings per share: Net income $ 1,866,916 $ 1,211,242 $ 558,929 Shares used in computation: Weighted-average common shares outstanding 437,799 435,374 431,885 Employee stock options 13,966 15,870 14,929 Weighted-average number of shares 451,765 451,244 446,814 Diluted earnings per share $ 4.13 $ 2.68 $ 1.25
Summary of Potential Common Shares Excluded from Diluted Calculation	The following table summarizes the potential common shares excluded from the diluted calculation: Year ended December 31, 2019 2018 2017 (in thousands) Employee stock options 1,588 330 189

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2019
Short-Term Investments And Fair Value Measurement [Abstract]
Schedule of Cash and Cash Equivalents	The following tables summarize the Company's cash, cash equivalents and restricted cash as of December 31, 2019 and 2018 : As of December 31, 2019 Cash and cash equivalents Other Current Assets Non-current Assets Total (in thousands) Cash $ 3,103,525 $ 1,863 $ 22,161 $ 3,127,549 Level 1 securities: Money market funds 1,614,912 — 1,325 1,616,237 Level 2 securities: Foreign Time Deposits 300,000 — — 300,000 $ 5,018,437 $ 1,863 $ 23,486 $ 5,043,786 As of December 31, 2018 Cash and cash equivalents Non-current Assets Total (in thousands) Cash $ 2,572,685 $ 16,260 $ 2,588,945 Level 1 securities: Money market funds 1,221,798 1,298 1,223,096 $ 3,794,483 $ 17,558 $ 3,812,041

Balance Sheet Components (Table

Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2019
Balance Sheet Components Disclosure [Abstract]
Content Assets	Content assets consisted of the following: As of December 31, 2019 2018 (in thousands) Licensed content, net $ 14,703,352 $ 14,081,463 Produced content, net Released, less amortization 4,382,685 2,403,896 In production 4,750,664 3,305,126 In development and pre-production 667,866 311,842 9,801,215 6,020,864 Total $ 24,504,567 $ 20,102,327 Current content assets, net $ — $ 5,151,186 Non-current content assets, net $ 24,504,567 $ 14,951,141
Schedule of Amortization of Streaming Content Assets	The following table represents the amortization of streaming content assets: Year ended December 31, 2019 2018 2017 (in thousands) Licensed content $ 7,242,799 $ 6,511,689 $ 5,680,373 Produced content 1,973,448 1,020,399 517,444 Total streaming content $ 9,216,247 $ 7,532,088 $ 6,197,817
Property and Equipment, Net	Property and equipment and accumulated depreciation consisted of the following: As of December 31, Estimated Useful Lives (in Years) 2019 2018 (in thousands) Land $ 6,125 $ 6,125 Buildings 33,141 73,468 30 years Leasehold improvements 354,999 282,028 Over life of lease Furniture and fixtures 87,465 63,667 3-15 years Information technology 243,565 224,296 3 years Corporate aircraft 108,995 62,560 8 years Machinery and equipment 46,415 55,108 3-5 years Capital work-in-progress 100,521 19,548 Property and equipment, gross 981,226 786,800 Less: Accumulated depreciation (416,005 ) (368,519 ) Property and equipment, net $ 565,221 $ 418,281
Information on Right-of-Use Assets and Lease Liabilities	Information related to the Company's right-of-use assets and related lease liabilities were as follows: Year ended December 31, 2019 (in thousands) Cash paid for operating lease liabilities $ 192,084 Right-of-use assets obtained in exchange for new operating lease obligations (1) 1,672,462 (1) Balance includes $743 million for operating leases existing on January 1, 2019. As of December 31, 2019 Weighted-average remaining lease term 8.8 years Weighted-average discount rate 5.0 %
Maturities of Lease Liabilities	Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands): Due in 12 month period ended December 31, 2020 $ 248,636 2021 246,148 2022 226,020 2023 211,387 2024 194,506 Thereafter 912,457 2,039,154 Less imputed interest (425,920 ) Total lease liabilities 1,613,234 Current operating lease liabilities 190,622 Non-current operating lease liabilities 1,422,612 Total lease liabilities $ 1,613,234
Other Current Assets	Other current assets consisted of the following: As of December 31, December 31, (in thousands) Trade receivables $ 454,399 $ 362,712 Prepaid expenses 180,999 178,833 Other receivables 524,669 206,921 Total other current assets $ 1,160,067 $ 748,466

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table provides a summary of the Company's outstanding long-term debt and the fair values based on quoted market prices in less active markets as of December 31, 2019 and December 31, 2018 : Level 2 Fair Value as of Principal Amount at Par Issuance Date Maturity Interest Due Dates December 31, December 31, (in millions) (in millions) 5.375% Senior Notes $ 500 February 2013 February 2021 February and August $ 518 $ 509 5.500% Senior Notes 700 February 2015 February 2022 April and October 744 706 5.750% Senior Notes 400 February 2014 March 2024 March and September 444 407 5.875% Senior Notes 800 February 2015 February 2025 April and October 896 812 4.375% Senior Notes 1,000 October 2016 November 2026 May and November 1,026 915 3.625% Senior Notes (1) 1,459 May 2017 May 2027 May and November 1,565 1,446 4.875% Senior Notes 1,600 October 2017 April 2028 April and October 1,670 1,464 5.875% Senior Notes 1,900 April 2018 November 2028 May and November 2,111 1,851 4.625% Senior Notes (2) 1,234 October 2018 May 2029 May and November 1,378 1,241 6.375% Senior Notes 800 October 2018 May 2029 May and November 916 797 3.875% Senior Notes (3) 1,346 April 2019 November 2029 June and December 1,429 — 5.375% Senior Notes 900 April 2019 November 2029 June and December 960 — 3.625% Senior Notes (4) 1,234 October 2019 June 2030 June and December 1,273 — 4.875% Senior Notes 1,000 October 2019 June 2030 June and December 1,019 — $ 14,873 (1) Debt is denominated in euro with a €1,300 million principal amount. Total proceeds were $1,421 million . (2) Debt is denominated in euro with a €1,100 million principal amount. Total proceeds were $1,262 million . (3) Debt is denominated in euro with a €1,200 million principal amount. Total proceeds were $1,343 million . (4) Debt is denominated in euro with a €1,100 million principal amount. Total proceeds were $1,226 million .
Schedule of Expected Timing of Principal and Interest Payments for the Notes	The expected timing of principal and interest payments for these Notes are as follows: As of December 31, December 31, 2018 (in thousands) Less than one year $ 736,969 $ 538,384 Due after one year and through three years 2,581,471 1,550,581 Due after three years and through five years 1,705,201 1,646,101 Due after five years 15,699,800 11,138,129 Total debt obligations $ 20,723,441 $ 14,873,195

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Expected Timing of Payments for Streaming Content Obligations	The expected timing of payments for these streaming content obligations is as follows: As of December 31, 2019 2018 (in thousands) Less than one year $ 8,477,367 $ 8,611,398 Due after one year and through 3 years 8,352,731 8,841,561 Due after 3 years and through 5 years 2,041,340 1,684,582 Due after 5 years 618,644 148,334 Total streaming content obligations $ 19,490,082 $ 19,285,875

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Summary of Activity Related to Stock Option Plans	A summary of the activities related to the Company’s stock option plans is as follows: Shares Available for Grant Options Outstanding Weighted- Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value (in Thousands) Number of Shares Weighted- Average Exercise Price Balances as of December 31, 2016 13,289,953 22,437,347 $ 44.83 Granted (2,550,038 ) 2,550,038 159.56 Exercised — (3,338,474 ) 26.79 Expired — (1,561 ) 3.25 Balances as of December 31, 2017 10,739,915 21,647,350 $ 61.13 Granted (2,039,974 ) 2,039,974 311.66 Exercised — (3,205,911 ) 38.66 Expired — (2,135 ) $ 4.60 Balances as of December 31, 2018 8,699,941 20,479,278 $ 89.61 Granted (2,588,380 ) 2,588,380 320.66 Exercised — (2,208,052 ) 32.88 Expired — (280 ) 6.74 Balances as of December 31, 2019 6,111,561 20,859,326 $ 124.28 5.57 $ 4,230,013 Vested and exercisable at December 31, 2019 20,859,326 $ 124.28 5.57 $ 4,230,013
Summary of Assumptions Used to Value Stock Option Grants Using Lattice-Binomial Model	The following table summarizes the assumptions used to value option grants using the lattice-binomial model and the valuation data: Year Ended December 31, 2019 2018 2017 Dividend yield — % — % — % Expected volatility 37% - 41% 40% - 42% 34% - 37% Risk-free interest rate 1.74% - 2.74% 2.61% - 3.09% 2.24% - 2.45% Suboptimal exercise factor 3.07 - 3.23 2.80 - 3.01 2.48 - 2.63 Valuation data: Weighted-average fair value (per share) $ 156.60 $ 157.19 $ 71.45 Total stock-based compensation expense (in thousands) 405,376 320,657 182,209 Total income tax impact on provision (in thousands) 90,856 67,575 61,842
Schedule of Changes in Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated balances of other comprehensive loss, net of tax: Foreign currency (in thousands) Balances as of December 31, 2017 $ (20,557 ) Other comprehensive income before reclassifications 975 Net decrease in accumulated other comprehensive loss 975 Balances as of December 31, 2018 $ (19,582 ) Other comprehensive loss before reclassifications (3,939 ) Net increase in accumulated other comprehensive loss (3,939 ) Balances as of December 31, 2019 $ (23,521 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Income before Income Taxes	Income before provision for income taxes was as follows: Year Ended December 31, 2019 2018 2017 (in thousands) United States $ 1,719,326 $ 845,402 $ 144,100 Foreign 342,905 381,056 341,221 Income before income taxes $ 2,062,231 $ 1,226,458 $ 485,321
Components of Provision for Income Taxes	The components of provision for (benefit from) income taxes for all periods presented were as follows: Year Ended December 31, 2019 2018 2017 (in thousands) Current tax provision: Federal $ 21,498 $ (22,176 ) $ 54,245 State 45,228 (10,234 ) (7,601 ) Foreign 223,328 133,146 88,436 Total current 290,054 100,736 135,080 Deferred tax provision: Federal (28,003 ) (37,396 ) (153,963 ) State (54,507 ) (52,391 ) (52,695 ) Foreign (12,229 ) 4,267 (2,030 ) Total deferred (94,739 ) (85,520 ) (208,688 ) Provision for (benefit from) income taxes $ 195,315 $ 15,216 $ (73,608 )
Reconciliation of Provision for Income Taxes	A reconciliation of the provision for income taxes, with the amount computed by applying the statutory Federal income tax rate to income before income taxes is as follows: Year Ended December 31, 2019 2018 2017 (in thousands) Expected tax expense at U.S. Federal statutory rates $ 433,059 $ 257,556 $ 169,860 State income taxes, net of Federal income tax effect 47,909 33,611 6,404 Foreign earnings at other than U.S. rates 56,969 63,519 (87,514 ) Federal and California R&D tax credits (134,523 ) (140,749 ) (79,868 ) Excess tax benefits on stock-based compensation (148,693 ) (191,323 ) (157,888 ) Impact of the Tax Cuts and Jobs Act of 2017 Rate Change / Transition Tax — (71,516 ) 79,077 Tax effects of the Tax Cuts and Jobs Act (127,534 ) 43,099 — Global corporate structure simplification 35,939 — — Nondeductible Officers Compensation 24,111 14,377 28 Other 8,078 6,642 (3,707 ) Provision for (benefit from) income taxes $ 195,315 $ 15,216 $ (73,608 ) Effective Tax Rate 9 % 1 % (15 )%
Deferred Tax Assets and Liabilities	The components of deferred tax assets and liabilities were as follows: As of December 31, 2019 2018 (in thousands) Deferred tax assets: Stock-based compensation $ 258,376 $ 190,451 Federal and California tax R&D credits 408,715 369,023 Foreign tax credits 137,818 218,026 Accruals and reserves 42,450 36,396 Operating leases 349,208 — Other 6,510 27,203 Gross deferred tax assets 1,203,077 841,099 Depreciation & amortization (80,921 ) (151,678 ) Operating leases (329,168 ) — Gross deferred tax liabilities (410,089 ) (151,678 ) Valuation allowance (134,782 ) (124,996 ) Net deferred tax assets $ 658,206 $ 564,425
Summary of Changes in Unrecognized Tax Benefits	The aggregate changes in the Company’s total gross amount of unrecognized tax benefits are summarized as follows (in thousands): Balances as of December 31, 2017 $ 42,902 Increases related to tax positions taken during prior periods 4,486 Decreases related to tax positions taken during prior periods (17,922 ) Increases related to tax positions taken during the current period 18,068 Balances as of December 31, 2018 47,534 Increases related to tax positions taken during prior periods 925 Decreases related to tax positions taken during prior periods (417 ) Increases related to tax positions taken during the current period 18,826 Decreases related to expiration of statute of limitations (100 ) Balances as of December 31, 2019 $ 66,768

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Long-lived Assets by Geographic Areas	The Company's long-lived tangible assets were located as follows: As of December 31, 2019 2018 (in thousands) United States $ 1,503,459 $ 381,947 International 594,047 36,334

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data	December 31 September 30 June 30 March 31 (in thousands, except for per share data) 2019 Total revenues $ 5,467,434 $ 5,244,905 $ 4,923,116 $ 4,520,992 Gross profit 2,001,411 2,146,986 1,917,459 1,650,378 Net income 586,970 665,244 270,650 344,052 Earnings per share: Basic $ 1.34 $ 1.52 $ 0.62 $ 0.79 Diluted 1.30 1.47 0.60 0.76 2018 Total revenues $ 4,186,841 $ 3,999,374 $ 3,907,270 $ 3,700,856 Gross profit 1,453,441 1,468,246 1,504,839 1,400,277 Net income 133,934 402,835 384,349 290,124 Earnings per share: Basic $ 0.31 $ 0.92 $ 0.88 $ 0.67 Diluted 0.30 0.89 0.85 0.64

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands, member in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)countrymember	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)countrymember	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 01, 2019USD ($)	Jan. 01, 2017USD ($)
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of DVD subscription members (over) | member	2,000,000								2,000,000
Number of streaming members (over) | member	167								167
Number of countries (over) | country	190								190
Operating lease right-of-use assets	$ 1,532,000								$ 1,532,000
Operating lease liabilities	1,613,234								$ 1,613,234
Cumulative Effect Adjustment of ASU												$ 2,474	$ 43,585
Content assets amortization period cap									10 years
Average produced content asset amortization percentage (over)									90.00%
Average produced content asset amortization period									4 years
Revenues	5,467,434	$ 5,244,905	$ 4,923,116	$ 4,520,992	$ 4,186,841	$ 3,999,374	$ 3,907,270	$ 3,700,856	$ 20,156,447	$ 15,794,341	$ 11,692,713
Deferred revenue	$ 924,745				$ 760,899				924,745	760,899
Increase in deferred revenue									163,846	142,277	177,974
Advertising expense									1,879,000	1,808,000	1,091,000
Technology and development									1,673,000	1,218,000	981,000
Foreign currency remeasurement loss (gain) on long-term debt									(45,576)	(73,953)	140,790
Interest and Other Income (Expense)
Organization And Summary Of Significant Accounting Policies [Line Items]
Foreign currency remeasurement loss (gain) on long-term debt									$ (7,000)	1,000	128,000
Maximum
Organization And Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated useful life									30 years
ASU 2016-02
Organization And Summary Of Significant Accounting Policies [Line Items]
Operating lease right-of-use assets												743,000
Operating lease liabilities												813,000
Retained Earnings
Organization And Summary Of Significant Accounting Policies [Line Items]
Cumulative Effect Adjustment of ASU												2,474	$ 43,585
Retained Earnings | ASU 2016-02
Organization And Summary Of Significant Accounting Policies [Line Items]
Cumulative Effect Adjustment of ASU												$ 2,000
United States
Organization And Summary Of Significant Accounting Policies [Line Items]
Revenues									$ 9,500,000	8,000,000	6,600,000
DVD
Organization And Summary Of Significant Accounting Policies [Line Items]
Revenues									$ 300,000	$ 400,000	$ 500,000

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies Organization and Summary of Significant Accounting Policies (Revenue and Membership Information) (Details) membership in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)membership	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)membership	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)membership	Dec. 31, 2018USD ($)membership	Dec. 31, 2017USD ($)membership
Disaggregation of Revenue [Line Items]
Revenues | $	$ 5,467,434	$ 5,244,905	$ 4,923,116	$ 4,520,992	$ 4,186,841	$ 3,999,374	$ 3,907,270	$ 3,700,856	$ 20,156,447	$ 15,794,341	$ 11,692,713
United States and Canada
Disaggregation of Revenue [Line Items]
Paid net membership additions (in memberships)									2,905	6,335	5,512
Paid memberships at end of period (in memberships)	67,662				64,757				67,662	64,757	58,422
Europe, Middle East, and Africa
Disaggregation of Revenue [Line Items]
Paid net membership additions (in memberships)									13,960	11,814	8,173
Paid memberships at end of period (in memberships)	51,778				37,818				51,778	37,818	26,004
Latin America
Disaggregation of Revenue [Line Items]
Paid net membership additions (in memberships)									5,340	6,360	5,509
Paid memberships at end of period (in memberships)	31,417				26,077				31,417	26,077	19,717
Asia-Pacific
Disaggregation of Revenue [Line Items]
Paid net membership additions (in memberships)									5,626	4,106	2,360
Paid memberships at end of period (in memberships)	16,233				10,607				16,233	10,607	6,501
Streaming | United States and Canada
Disaggregation of Revenue [Line Items]
Revenues | $									$ 10,051,208	$ 8,281,532	$ 6,660,859
Streaming | Europe, Middle East, and Africa
Disaggregation of Revenue [Line Items]
Revenues | $									5,543,067	3,963,707	2,362,813
Streaming | Latin America
Disaggregation of Revenue [Line Items]
Revenues | $									2,795,434	2,237,697	1,642,616
Streaming | Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenues | $									$ 1,469,521	$ 945,816	$ 575,928

Organization and Summary of S_6

Organization and Summary of Significant Accounting Policies (Computation of Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Basic earnings per share:
Net income	$ 586,970	$ 665,244	$ 270,650	$ 344,052	$ 133,934	$ 402,835	$ 384,349	$ 290,124	$ 1,866,916	$ 1,211,242	$ 558,929
Weighted-average common shares outstanding (in shares)									437,799	435,374	431,885
Basic earnings per share (in USD per share)	$ 1.34	$ 1.52	$ 0.62	$ 0.79	$ 0.31	$ 0.92	$ 0.88	$ 0.67	$ 4.26	$ 2.78	$ 1.29
Diluted earnings per share:
Net income	$ 586,970	$ 665,244	$ 270,650	$ 344,052	$ 133,934	$ 402,835	$ 384,349	$ 290,124	$ 1,866,916	$ 1,211,242	$ 558,929
Shares used in computation:
Weighted-average common shares outstanding (in shares)									437,799	435,374	431,885
Employee stock options (in shares)									13,966	15,870	14,929
Weighted-average number of shares (in shares)									451,765	451,244	446,814
Diluted earnings per share (in USD per share)	$ 1.30	$ 1.47	$ 0.60	$ 0.76	$ 0.30	$ 0.89	$ 0.85	$ 0.64	$ 4.13	$ 2.68	$ 1.25

Organization and Summary of S_7

Organization and Summary of Significant Accounting Policies (Summary of Potential Common Shares Excluded From Diluted Calculation) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Employee stock options	1,588	330	189

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	$ 5,043,786	$ 3,812,041	$ 2,822,795	$ 1,467,576
Cash
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	3,127,549	2,588,945
Level 1 securities | Money market funds
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	1,616,237	1,223,096
Level 2 securities | Foreign Time Deposits
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	300,000
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	5,018,437	3,794,483
Cash and cash equivalents | Cash
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	3,103,525	2,572,685
Cash and cash equivalents | Level 1 securities | Money market funds
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	1,614,912	1,221,798
Cash and cash equivalents | Level 2 securities | Foreign Time Deposits
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	300,000
Other Current Assets
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	1,863
Other Current Assets | Cash
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	1,863
Other Current Assets | Level 1 securities | Money market funds
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	0
Other Current Assets | Level 2 securities | Foreign Time Deposits
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	0
Non-current Assets
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	23,486	17,558
Non-current Assets | Cash
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	22,161	16,260
Non-current Assets | Level 1 securities | Money market funds
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	1,325	$ 1,298
Non-current Assets | Level 2 securities | Foreign Time Deposits
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents and restricted cash	$ 0

Balance Sheet Components - Comp

Balance Sheet Components - Components of Content Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Total content assets, net	$ 24,504,567	$ 20,102,327
Current content assets, net	0	5,151,186
Non-current content assets, net	24,504,567	14,951,141
Amortization of streaming content assets	9,216,247	7,532,088	$ 6,197,817
Licensed content, net
Finite-Lived Intangible Assets [Line Items]
Net content	14,703,352	14,081,463
Unamortized cost in year one	5,793,000
Unamortized cost in year two	3,733,000
Unamortized cost in year three	2,518,000
Amortization of streaming content assets	7,242,799	6,511,689	5,680,373
Produced content, net
Finite-Lived Intangible Assets [Line Items]
Net content	4,382,685	2,403,896
In production	4,750,664	3,305,126
In development and pre-production	667,866	311,842
Total content assets, net	9,801,215	6,020,864
Unamortized cost in year one	1,552,000
Unamortized cost in year two	1,187,000
Unamortized cost in year three	882,000
Amortization of streaming content assets	$ 1,973,448	$ 1,020,399	$ 517,444

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 981,226	$ 786,800
Less: Accumulated depreciation	(416,005)	(368,519)
Property and equipment, net	$ 565,221	418,281
Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	30 years
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 6,125	6,125
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 33,141	73,468
Estimated Useful Lives	30 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 354,999	282,028
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 87,465	63,667
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Information technology
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 243,565	224,296
Estimated Useful Lives	3 years
Corporate aircraft
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 108,995	62,560
Estimated Useful Lives	8 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 46,415	55,108
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Capital work-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 100,521	$ 19,548

Balance Sheet Components - Leas

Balance Sheet Components - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 1,532,000
Operating lease liabilities	1,613,234
Lease Cost:
Lease costs	448,000
Operating lease cost	218,000
Short-term lease cost	230,000
Rent expense		$ 107,000	$ 75,000
Cash paid for operating lease liabilities	192,084
Right-of-use assets obtained in exchange for new operating lease obligations	$ 1,672,462
Weighted-average remaining lease term	8 years 9 months 18 days
Weighted-average discount rate	5.00%
Operating lease, liability, leases not commenced	$ 699,000
ASU 2016-02
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets				$ 743,000
Operating lease liabilities				$ 813,000
Minimum
Lessee, Lease, Description [Line Items]
Lease term of contract	1 year
Lease renewal term	1 year
Lease Cost:
Lease not yet commenced, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term of contract	15 years
Lease renewal term	15 years
Lease Cost:
Lease not yet commenced, term of contract	15 years

Balance Sheet Components - Le_2

Balance Sheet Components - Lease Maturities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 248,636
2021	246,148
2022	226,020
2023	211,387
2024	194,506
Thereafter	912,457
Total lease liabilities	2,039,154
Less imputed interest	(425,920)
Total lease liabilities	1,613,234
Current operating lease liabilities	190,622
Non-current operating lease liabilities	$ 1,422,612

Balance Sheet Components - Othe

Balance Sheet Components - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Balance Sheet Components Disclosure [Abstract]
Trade receivables	$ 454,399	$ 362,712
Prepaid expenses	180,999	178,833
Other receivables	524,669	206,921
Total other current assets	$ 1,160,067	$ 748,466

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Aggregate outstanding principal		$ 10,360,058,000			$ 14,759,260,000
Debt issuance cost					114,000,000
Foreign currency remeasurement gain on long-term debt	$ 45,576,000	$ 73,953,000	$ (140,790,000)
Senior Notes
Debt Instrument [Line Items]
Long-term notes denominated in foreign currency				€ 4,700,000,000	$ 14,873,000,000
Foreign currency remeasurement gain on long-term debt	$ 46,000,000
Redemption price, percent of outstanding principal	101.00%

Long-term Debt (Summary of Long

Long-term Debt (Summary of Long-term Debt) (Details) - Senior Notes	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Face amount		€ 4,700,000,000	$ 14,873,000,000
5.375% Senior Notes
Debt Instrument [Line Items]
Interest rate		5.375%	5.375%
Face amount			$ 500,000,000
Long-term debt, fair value			$ 518,000,000	$ 509,000,000
5.500% Senior Notes
Debt Instrument [Line Items]
Interest rate		5.50%	5.50%
Face amount			$ 700,000,000
Long-term debt, fair value			$ 744,000,000	706,000,000
5.750% Senior Notes
Debt Instrument [Line Items]
Interest rate		5.75%	5.75%
Face amount			$ 400,000,000
Long-term debt, fair value			$ 444,000,000	407,000,000
5.875% Senior Notes
Debt Instrument [Line Items]
Interest rate		5.875%	5.875%
Face amount			$ 800,000,000
Long-term debt, fair value			$ 896,000,000	812,000,000
4.375% Senior Notes
Debt Instrument [Line Items]
Interest rate		4.375%	4.375%
Face amount			$ 1,000,000,000
Long-term debt, fair value			$ 1,026,000,000	915,000,000
3.625% Senior Notes
Debt Instrument [Line Items]
Interest rate		3.625%	3.625%
Face amount		€ 1,300,000,000	$ 1,459,000,000
Long-term debt, fair value			$ 1,565,000,000	1,446,000,000
Proceeds from convertible debt	$ 1,421,000,000
4.875% Senior Notes
Debt Instrument [Line Items]
Interest rate		4.875%	4.875%
Face amount			$ 1,600,000,000
Long-term debt, fair value			$ 1,670,000,000	1,464,000,000
5.875% Senior Notes
Debt Instrument [Line Items]
Interest rate		5.875%	5.875%
Face amount			$ 1,900,000,000
Long-term debt, fair value			$ 2,111,000,000	1,851,000,000
4.625% Senior Notes
Debt Instrument [Line Items]
Interest rate		4.625%	4.625%
Face amount		€ 1,100,000,000	$ 1,234,000,000
Long-term debt, fair value			$ 1,378,000,000	1,241,000,000
Proceeds from convertible debt	1,262,000,000
6.375% Senior Notes
Debt Instrument [Line Items]
Interest rate		6.375%	6.375%
Face amount			$ 800,000,000
Long-term debt, fair value			$ 916,000,000	797,000,000
3.875% Senior Notes
Debt Instrument [Line Items]
Interest rate		3.875%	3.875%
Face amount		€ 1,200,000,000	$ 1,346,000,000
Long-term debt, fair value			$ 1,429,000,000	0
Proceeds from convertible debt	1,343,000,000
5.375% Senior Notes
Debt Instrument [Line Items]
Interest rate		5.375%	5.375%
Face amount			$ 900,000,000
Long-term debt, fair value			$ 960,000,000	0
3.625% Senior Notes
Debt Instrument [Line Items]
Interest rate		3.625%	3.625%
Face amount		€ 1,100,000,000	$ 1,234,000,000
Long-term debt, fair value			$ 1,273,000,000	0
Proceeds from convertible debt	$ 1,226,000,000
4.875% Senior Notes
Debt Instrument [Line Items]
Interest rate		4.875%	4.875%
Face amount			$ 1,000,000,000
Long-term debt, fair value			$ 1,019,000,000	$ 0

Long-term Debt (Maturities) (De

Long-term Debt (Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Less than one year	$ 736,969	$ 538,384
Due after one year and through three years	2,581,471	1,550,581
Due after three years and through five years	1,705,201	1,646,101
Due after five years	15,699,800	11,138,129
Total debt obligations	$ 20,723,441	$ 14,873,195

Long-term Debt (Revolving Credi

Long-term Debt (Revolving Credit Facility) (Details) - Revolving Credit Facility - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 29, 2019	Jul. 31, 2017
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 750,000,000	$ 500,000,000
Line of credit facility, additional maximum borrowing capacity			$ 250,000,000
Commitment fee percentage	0.10%
London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Federal Funds Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
One-Month LIBOR Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
One-Month LIBOR Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.00%

Commitments and Contingencies_2

Commitments and Contingencies (Streaming Content) (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Contractual Obligation [Line Items]
Total streaming content obligations	$ 19,490,082	$ 19,285,875
Current content liabilities	4,413,561	4,681,562
Non-current content liabilities	3,334,323	3,759,026
Unrecorded streaming obligations	11,800,000	10,800,000
Current Content Liabilities
Contractual Obligation [Line Items]
Current content liabilities	4,400,000	4,700,000
Non-current Content Liabilities
Contractual Obligation [Line Items]
Non-current content liabilities	$ 3,300,000	$ 3,800,000

Commitments and Contingencies_3

Commitments and Contingencies (Expected Timing of Payments for Commitments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Less than one year	$ 8,477,367	$ 8,611,398
Due after one year and through 3 years	8,352,731	8,841,561
Due after 3 years and through 5 years	2,041,340	1,684,582
Due after 5 years	618,644	148,334
Total streaming content obligations	$ 19,490,082	$ 19,285,875

Stockholders' Equity (Voting Ri

Stockholders' Equity (Voting Rights) (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019vote
Stockholders' Equity Note [Abstract]
Number of voting rights per share	1

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Option Plans) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Total intrinsic value of options exercised	$ 666	$ 863	$ 464
Cash received from option exercised	$ 72	$ 125	$ 88
Expiration period	10 years

Stockholders' Equity (Summary o

Stockholders' Equity (Summary of Activity Related to Stock Option Plans) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares Available for Grant, Beginning Balances	8,699,941	10,739,915	13,289,953
Options Outstanding, Number of Shares, Beginning Balances	20,479,278	21,647,350	22,437,347
Options Outstanding, Number of Shares, Granted	2,588,380	2,039,974	2,550,038
Options Outstanding, Number of Shares, Exercised	(2,208,052)	(3,205,911)	(3,338,474)
Options Outstanding, Number of Shares, Expired	(280)	(2,135)	(1,561)
Shares Available for Grant, Ending Balances	6,111,561	8,699,941	10,739,915
Options Outstanding, Number of Shares, Ending Balances	20,859,326	20,479,278	21,647,350
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options Outstanding, Weighted-Average Exercise Price, Beginning Balances (in USD per share)	$ 89.61	$ 61.13	$ 44.83
Options Outstanding, Weighted-Average Exercise Price, Granted (in USD per share)	320.66	311.66	159.56
Options Outstanding, Weighted-Average Exercise Price, Exercised (in USD per share)	32.88	38.66	26.79
Options Outstanding, Weighted-Average Exercise Price, Expired (in USD per share)	6.74	4.60	3.25
Options Outstanding, Weighted-Average Exercise Price, Ending Balances (in USD per share)	$ 124.28	$ 89.61	$ 61.13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options Outstanding, Number of Shares, Vested and exercisable	20,859,326
Options Outstanding, Weighted-Average Exercise Price, Vested and exercisable (in USD per share)	$ 124.28
Weighted-Average Remaining Contractual Term, Vested and exercisable	5 years 6 months 25 days
Aggregate Intrinsic Value, Vested and exercisable	$ 4,230,013

Stockholders' Equity (Summary_2

Stockholders' Equity (Summary of Assumptions Used to Value Stock Option Grants) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares
Stockholders' Equity Note [Abstract]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum	37.00%	40.00%	34.00%
Expected volatility, maximum	41.00%	42.00%	37.00%
Risk-free interest rate, minimum	1.74%	2.61%	2.24%
Risk-free interest rate, maximum	2.74%	3.09%	2.45%
Suboptimal exercise factor, minimum	3.07	2.80	2.48
Suboptimal exercise factor, maximum	3.23	3.01	2.63
Valuation data:
Weighted-average fair value (in USD per share) | $ / shares	$ 156.60	$ 157.19	$ 71.45
Total stock-based compensation expense	$ 405,376	$ 320,657	$ 182,209
Total income tax impact on provision	$ 90,856	$ 67,575	$ 61,842

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 5,238,765	$ 3,581,956
Ending Balance	7,582,157	5,238,765
Foreign Currency
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(19,582)	(20,557)
Other comprehensive income (loss) before reclassifications	(3,939)	975
Net decrease (increase) in accumulated other comprehensive loss	(3,939)	975
Ending Balance	$ (23,521)	$ (19,582)

Income Taxes (Schedule of Incom

Income Taxes (Schedule of Income before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
United States	$ 1,719,326	$ 845,402	$ 144,100
Foreign	342,905	381,056	341,221
Income before income taxes	$ 2,062,231	$ 1,226,458	$ 485,321

Income Taxes (Components of Pro

Income Taxes (Components of Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current tax provision:
Federal	$ 21,498	$ (22,176)	$ 54,245
State	45,228	(10,234)	(7,601)
Foreign	223,328	133,146	88,436
Total current	290,054	100,736	135,080
Deferred tax provision:
Federal	(28,003)	(37,396)	(153,963)
State	(54,507)	(52,391)	(52,695)
Foreign	(12,229)	4,267	(2,030)
Total deferred	(94,739)	(85,520)	(208,688)
Provision for (benefit from) income taxes	$ 195,315	$ 15,216	$ (73,608)

Income Taxes (Reconciliation of

Income Taxes (Reconciliation of Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Expected tax expense at U.S. Federal statutory rates	$ 433,059	$ 257,556	$ 169,860
State income taxes, net of Federal income tax effect	47,909	33,611	6,404
Foreign earnings at other than U.S. rates	56,969	63,519	(87,514)
Federal and California R&D tax credits	(134,523)	(140,749)	(79,868)
Excess tax benefits on stock-based compensation	(148,693)	(191,323)	(157,888)
Impact of the Tax Cuts and Jobs Act of 2017
Rate Change / Transition Tax	0	(71,516)	79,077
Tax effects of the Tax Cuts and Jobs Act	(127,534)	43,099	0
Global corporate structure simplification	35,939	0	0
Nondeductible Officers Compensation	24,111	14,377	28
Other	8,078	6,642	(3,707)
Provision for (benefit from) income taxes	$ 195,315	$ 15,216	$ (73,608)
Effective Tax Rate	9.00%	1.00%	(15.00%)

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets (liabilities):
Stock-based compensation	$ 258,376	$ 190,451
Federal and California tax R&D credits	408,715	369,023
Foreign tax credits	137,818	218,026
Accruals and reserves	42,450	36,396
Operating leases	349,208	0
Other	6,510	27,203
Gross deferred tax assets	1,203,077	841,099
Depreciation & amortization	(80,921)	(151,678)
Operating leases	(329,168)	0
Gross deferred tax liabilities	410,089	151,678
Valuation allowance	(134,782)	(124,996)
Net deferred tax assets	$ 658,206	$ 564,425

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 134,782	$ 124,996
Foreign tax credits	137,818	218,026
Valuation allowance	135,000
Unrecognized tax benefits	66,768	47,534	$ 42,902
Reduction in provision for income taxes due to impact of effective tax rate	57,000	$ 44,000
Federal tax authority
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount	251,000
Foreign tax credits	3,000
State tax authority
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount	$ 256,000

Income Taxes (Summary of Change

Income Taxes (Summary of Changes in Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$ 47,534	$ 42,902
Increases related to tax positions taken during prior periods	925	4,486
Decreases related to tax positions taken during prior periods	(417)	(17,922)
Increases related to tax positions taken during the current period	18,826	18,068
Decreases related to expiration of statute of limitations	(100)
Ending Balance	$ 66,768	$ 47,534

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Eligible employees maximum contribution percentage	80.00%
Contributions by employer	$ 47	$ 27	$ 20

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment									3
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 5,467,434	$ 5,244,905	$ 4,923,116	$ 4,520,992	$ 4,186,841	$ 3,999,374	$ 3,907,270	$ 3,700,856	$ 20,156,447	$ 15,794,341	$ 11,692,713
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 9,500,000	$ 8,000,000	$ 6,600,000

Segment Information (Long-lived

Segment Information (Long-lived Assets by Geographic Areas) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,503,459	$ 381,947
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 594,047	$ 36,334

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 5,467,434	$ 5,244,905	$ 4,923,116	$ 4,520,992	$ 4,186,841	$ 3,999,374	$ 3,907,270	$ 3,700,856	$ 20,156,447	$ 15,794,341	$ 11,692,713
Gross profit	2,001,411	2,146,986	1,917,459	1,650,378	1,453,441	1,468,246	1,504,839	1,400,277
Net income	$ 586,970	$ 665,244	$ 270,650	$ 344,052	$ 133,934	$ 402,835	$ 384,349	$ 290,124	$ 1,866,916	$ 1,211,242	$ 558,929
Earnings (loss) per share:
Basic (in USD per share)	$ 1.34	$ 1.52	$ 0.62	$ 0.79	$ 0.31	$ 0.92	$ 0.88	$ 0.67	$ 4.26	$ 2.78	$ 1.29
Diluted (in USD per share)	$ 1.30	$ 1.47	$ 0.60	$ 0.76	$ 0.30	$ 0.89	$ 0.85	$ 0.64	$ 4.13	$ 2.68	$ 1.25