Netflix (NFLX) 10-K 27 Jan 25 2024 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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	121 Albright Way
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, par value $0.001 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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float		$ 287,180,927,160
Entity Common Stock, Shares Outstanding	427,757,100
Documents Incorporated by Reference	Parts of the registrant’s Proxy Statement for the registrant’s 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001065280
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	San Jose, California

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenues	$ 39,000,966	$ 33,723,297	$ 31,615,550
Cost of revenues	21,038,464	19,715,368	19,168,285
Sales and marketing	2,917,554	2,657,883	2,530,502
Technology and development	2,925,295	2,675,758	2,711,041
General and administrative	1,702,039	1,720,285	1,572,891
Operating income	10,417,614	6,954,003	5,632,831
Other income (expense):
Interest expense	(718,733)	(699,826)	(706,212)
Interest and other income (expense)	266,776	(48,772)	337,310
Income before income taxes	9,965,657	6,205,405	5,263,929
Provision for income taxes	(1,254,026)	(797,415)	(772,005)
Net income	$ 8,711,631	$ 5,407,990	$ 4,491,924
Earnings per share:
Basic (in USD per share)	$ 20.28	$ 12.25	$ 10.10
Diluted (in USD per share)	$ 19.83	$ 12.03	$ 9.95
Weighted-average shares of common stock outstanding:
Basic (in shares)	429,519	441,571	444,698
Diluted (in shares)	439,261	449,498	451,290

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, income tax (expense) benefit	$ (7)	$ 0	$ 0
Change in unrealized gains (losses) on available-for-sale securities, income tax (expense) benefit	(1)	0	0
Net change, income tax (expense) benefit	(246)	36	0
Net unrealized gains / losses excluded from the assessment of effectiveness, income tax (expense) benefit	$ (2)	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 8,711,631	$ 5,407,990	$ 4,491,924
Adjustments to reconcile net income to net cash provided by operating activities:
Additions to content assets	(16,223,617)	(12,554,703)	(16,839,038)
Change in content liabilities	(779,135)	(585,602)	179,310
Amortization of content assets	15,301,517	14,197,437	14,026,132
Depreciation and amortization of property, equipment and intangibles	328,914	356,947	336,682
Stock-based compensation expense	272,588	339,368	575,452
Foreign currency remeasurement loss (gain) on debt	(121,539)	176,296	(353,111)
Other non-cash items	494,778	512,075	533,543
Deferred income taxes	(590,698)	(459,359)	(166,550)
Changes in operating assets and liabilities:
Other current assets	22,180	(181,003)	(353,834)
Accounts payable	121,353	93,502	(158,543)
Accrued expenses and other liabilities	191,899	103,565	(55,513)
Deferred revenue	77,844	178,708	27,356
Other non-current assets and liabilities	(446,351)	(310,920)	(217,553)
Net cash provided by operating activities	7,361,364	7,274,301	2,026,257
Cash flows from investing activities:
Purchases of property and equipment	(439,538)	(348,552)	(407,729)
Acquisitions	0	0	(757,387)
Purchases of investments	(1,742,246)	(504,862)	(911,276)
Proceeds from maturities of investments	0	1,395,165	0
Net cash provided by (used in) investing activities	(2,181,784)	541,751	(2,076,392)
Cash flows from financing activities:
Proceeds from issuance of debt	1,794,460	0	0
Repayments of debt	(400,000)	0	(700,000)
Proceeds from issuance of common stock	832,887	169,990	35,746
Repurchases of common stock	(6,263,746)	(6,045,347)	0
Taxes paid related to net share settlement of equity awards	(8,285)	0	0
Other financing activities	(29,743)	(75,446)	0
Net cash used in financing activities	(4,074,427)	(5,950,803)	(664,254)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(416,331)	82,684	(170,140)
Net increase (decrease) in cash, cash equivalents and restricted cash	688,822	1,947,933	(884,529)
Cash, cash equivalents and restricted cash, beginning of year	7,118,515	5,170,582	6,055,111
Cash, cash equivalents and restricted cash, end of year	7,807,337	7,118,515	5,170,582
Supplemental disclosure:
Income taxes paid	1,641,530	1,154,973	811,720
Interest paid	$ 674,502	$ 684,504	$ 701,693

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 7,804,733	$ 7,116,913
Short-term investments	1,779,006	20,973
Other current assets	3,516,640	2,780,247
Total current assets	13,100,379	9,918,133
Content assets, net	32,452,462	31,658,056
Property and equipment, net	1,593,756	1,491,444
Other non-current assets	6,483,777	5,664,359
Total assets	53,630,374	48,731,992
Current liabilities:
Current content liabilities	4,393,681	4,466,470
Accounts payable	899,909	747,412
Accrued expenses and other liabilities	2,156,544	1,803,960
Deferred revenue	1,520,813	1,442,969
Short-term debt	1,784,453	399,844
Total current liabilities	10,755,400	8,860,655
Non-current content liabilities	1,780,806	2,578,173
Long-term debt	13,798,351	14,143,417
Other non-current liabilities	2,552,250	2,561,434
Total liabilities	28,886,807	28,143,679
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2024 and December 31, 2023; no shares issued and outstanding at December 31, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value; 4,990,000,000 shares authorized at December 31, 2024 and December 31, 2023; 427,757,100 and 432,759,584 issued and outstanding at December 31, 2024 and December 31, 2023, respectively	6,252,126	5,145,172
Treasury stock at cost (25,953,460 and 16,078,268 shares at December 31, 2024 and December 31, 2023)	(13,171,638)	(6,922,200)
Accumulated other comprehensive income (loss)	362,162	(223,945)
Retained earnings	31,300,917	22,589,286
Total stockholders’ equity	24,743,567	20,588,313
Total liabilities and stockholders’ equity	$ 53,630,374	$ 48,731,992

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	4,990,000,000	4,990,000,000
Common stock, shares issued (in shares)	427,757,100	432,759,584
Common stock, shares outstanding (in shares)	427,757,100	432,759,584
Treasury stock (in shares)	25,953,460	16,078,268

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock and Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2021		443,963,107
Beginning balance at Dec. 31, 2021	$ 15,849,248	$ 4,024,561	$ (824,190)	$ (40,495)	$ 12,689,372
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,491,924				4,491,924
Other comprehensive (loss) income	$ (176,811)			(176,811)
Issuance of common stock (in shares)	1,383,669	1,383,669
Issuance of common stock	$ 37,588	$ 37,588
Stock-based compensation expense	575,452	$ 575,452
Ending balance (in shares) at Dec. 31, 2022		445,346,776
Ending balance at Dec. 31, 2022	20,777,401	$ 4,637,601	(824,190)	(217,306)	17,181,296
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,407,990				5,407,990
Other comprehensive (loss) income	$ (6,639)			(6,639)
Issuance of common stock (in shares)	1,926,598	1,926,598
Issuance of common stock	$ 168,203	$ 168,203
Repurchases of common stock (in shares)		(14,513,790)
Repurchases of common stock	(6,098,010)		(6,098,010)
Stock-based compensation expense	$ 339,368	$ 339,368
Ending balance (in shares) at Dec. 31, 2023	432,759,584	432,759,584
Ending balance at Dec. 31, 2023	$ 20,588,313	$ 5,145,172	(6,922,200)	(223,945)	22,589,286
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,711,631				8,711,631
Other comprehensive (loss) income	$ 586,107			586,107
Issuance of common stock (in shares)	4,846,048	4,872,708
Issuance of common stock	$ 834,366	$ 834,366
Repurchases of common stock (in shares)	(9,861,935)	(9,861,935)
Repurchases of common stock	$ (6,241,153)		(6,241,153)
Shares withheld related to net share settlement of equity awards (in shares)		(13,257)
Shares withheld related to net share settlement of equity awards	(8,285)		(8,285)
Stock-based compensation expense	$ 272,588	$ 272,588
Ending balance (in shares) at Dec. 31, 2024	427,757,100	427,757,100
Ending balance at Dec. 31, 2024	$ 24,743,567	$ 6,252,126	$ (13,171,638)	$ 362,162	$ 31,300,917

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 8,711,631	$ 5,407,990	$ 4,491,924
Other comprehensive income (loss):
Foreign currency translation adjustments, net of income tax (expense) benefit of $(7) million, $0, and $0, respectively	(247,949)	113,384	(176,811)
Change in unrealized gains on available-for-sale securities, net of income tax (expense) benefit of $(1) million, $0, and $0, respectively	2,511	0	0
Cash flow hedges:
Net unrealized gains (losses)	921,227	(120,023)	0
Reclassification of net gains included in net income	(96,795)	0	0
Net change, net of income tax (expense) benefit of $(246) million, $36 million, and $0, respectively	824,432	(120,023)	0
Fair value hedges:
Net unrealized gains excluded from the assessment of effectiveness, net of income tax (expense) benefit of $(2) million, $0, and $0, respectively	7,113	0	0
Total other comprehensive income (loss)	586,107	(6,639)	(176,811)
Comprehensive income	$ 9,297,738	$ 5,401,351	$ 4,315,113

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
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 one of the world’s leading entertainment services with approximately 302 million paid memberships in over 190 countries enjoying TV series, films and games across a wide variety of genres and languages. Members can play, pause and resume watching as much as they want, anytime, anywhere, and can change their plans at any time. 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. Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles ("GAAP") 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 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 issued accounting pronouncements not yet adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09. In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses , requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03. Recently adopted accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 during the year ended December 31, 2024. See Note 12 Segment and Geographic Information in the accompanying notes to the consolidated financial statements for further detail. Cash Equivalents and Short-term Investments 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 that it expects to settle within several days as cash equivalents. The Company classifies short-term investments, which consist of marketable securities with original maturities in excess of 90 days as available-for-sale. Short-term investments are reported at fair value, with allowances for credit losses included in “Interest and other income (expense)” in the Consolidated Statements of Operations and unrealized gains and losses included in “Accumulated other comprehensive income (loss)” within Stockholders’ equity in the Consolidated Balance Sheets. The Company uses the specific identification method to determine cost in calculating realized gains and losses upon the sale of short-term investments. Short-term investments are reviewed periodically for allowances for credit losses and impairment. When evaluating the investments, the Company reviews factors such as the extent to which the fair value of the security is less than the amortized cost basis, adverse conditions specifically related to the security, the financial condition of the issuer, the Company’s intent to sell, and whether it would be more likely than not that the Company would be required to sell the investments before the recovery of their amortized cost basis. Content The Company acquires, licenses and produces content, including original programming, in order to offer members unlimited viewing of video entertainment. 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 content assets and the changes in related liabilities, are classified within "Net cash provided by operating activities" on the Consolidated Statements of Cash Flows. The Company recognizes content assets (licensed and produced) as “Content assets, net” on the Consolidated Balance Sheets. For licensed content, 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 produced content, the Company capitalizes costs associated with the production, including development costs, direct costs and production overhead. 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 over ten years, beginning with the month of first availability. The amortization is on an accelerated basis, as the Company typically expects more upfront viewing, and film amortization is more accelerated than TV series amortization. On average, over 90% of a licensed or produced 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 a regular basis. The Company's estimates related to these factors require considerable management judgment. In the normal course of business, the Company, or a third-party producing content on the Company's behalf, may qualify for tax incentives through eligible spend on productions. The accounting for tax incentives is dependent on the particular type of incentive, including the nature of the benefit and the location the incentive is earned. In general, tax incentives are realized as cash receipts and may be received prior to or after a title launches on the Company’s service. Upon a title’s launch, any amounts the Company is eligible for through qualified production spend but has not received, are recognized in “Other current assets” or “Other non-current assets” on the Company’s Consolidated Balance Sheets as receivables. Tax incentives are generally accounted for as a reduction to the cost basis of the Company’s content assets (presented in “Content assets, net”) and reduce content amortization over the life of the title (as presented in “Cost of revenues”) on the Consolidated Statements of Operations. 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. Acquisitions The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded in connection with a business combination as of the acquisition date. 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 primarily consist of membership and advertising fees due to the Company. The Company evaluates the need for an allowance for credit losses 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. In circumstances in which the price that the member pays is established by a partner and there is no standalone price for the Netflix service (for instance, in a bundle), the net amount collected from the partner is recognized as revenue. The Company also earns revenue from advertisements presented on its streaming service, consumer products, live events and various other sources. Revenues earned from sources other than monthly membership fees were not a material component of revenues for the years ended December 31, 2024, 2023, and 2022. See Note 2 Revenue Recognition to the consolidated financial statements for further information regarding revenues. Sales and Marketing Sales and marketing expenses consist primarily of advertising expenses and certain payments made to marketing and advertising sales partners, including CE manufacturers, MVPDs, mobile operators and ISPs. Sales and marketing expenses also include payroll, stock-based compensation, facilities, and other related expenses for personnel that support the Company's advertising sales and marketing activities. Marketing expenses are expensed as incurred and include promotional activities such as digital and television advertising. Advertising expenses were $1,779 million, $1,732 million and $1,586 million for the years ended December 31, 2024, 2023 and 2022, 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 accounts for the tax effects of global intangible low tax income as a current period expense. The Company does 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 10 Income Taxes 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 income" 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)" in the Consolidated Statements of Operations. Foreign exchange gains (losses) were $(18) million, $(293) million, and $282 million for the years ended December 31, 2024, 2023, and 2022, respectively. These gains and losses were primarily due to the non-cash remeasurement of our Senior Notes denominated in euros and the remeasurement of cash and content liability positions denominated in currencies other than functional currencies. Foreign exchange gains (losses) for the year ended December 31, 2024 were net of hedging impacts. No hedging gains or losses were recognized in the Consolidated Statements of Operations in the years ended December 31, 2023 and 2022. See Note 7 Derivative Financial Instruments and Hedging Activities for further information. Derivative Financial Instruments and Hedging Activities The Company uses derivative and non-derivative instruments to manage foreign exchange risk related to its ongoing business operations with the primary objective of reducing earnings and cash flow volatility associated with fluctuations in foreign exchange rates. The Company recognizes derivative instruments at fair value as either assets (presented in “Other current assets” and “Other non-current assets”) or liabilities (presented in “Accrued expenses and other liabilities” and “Other non-current liabilities”) on the Company’s Consolidated Balance Sheets. The Company classifies derivative instruments in the Level 2 category within the fair value hierarchy. Cash flow hedges The Company enters into forward contracts to manage the foreign exchange risk on forecasted revenue transactions denominated in currencies other than the U.S. dollar, as well as the foreign exchange risk on forecasted transactions and firm commitments related to the licensing and production of foreign currency-denominated content assets. These forward contracts are designated as cash flow hedges of foreign currency firm commitments and forecasted transactions and generally have maturities of 36 months or less. The hedging contracts may reduce, but do not entirely eliminate, the effect of foreign currency exchange movements, and the Company may choose not to hedge certain exposures. The gain or loss on derivative instruments designated as cash flow hedges of forecasted foreign currency revenue is initially reported as a component of accumulated other comprehensive income (“AOCI”) and reclassified into “Revenues” on the Consolidated Statements of Operations in the same period the forecasted transaction affects earnings. The gain or loss on derivative instruments designated as cash flow hedges of firmly committed or forecasted transactions related to the licensing and production of content assets is initially reported as a component of AOCI and reclassified into “Cost of Revenues” on the Consolidated Statements of Operations in the same period the hedged transaction affects earnings, which occurs as the underlying hedged content assets are amortized. Cash flows from hedging activities are classified in the same category as the cash flows for the underlying item being hedged within "Net cash provided by operating activities" on the Consolidated Statements of Cash Flows. In the event that the likelihood of occurrence of the underlying forecasted transactions is determined to be probable not to occur, the gains or losses on the related cash flow hedges are reclassified from AOCI to “Interest and other income (expense)” in the Consolidated Statements of Operations in the period of dedesignation. Fair value hedges The Company designates forward contracts as fair value hedges to manage the foreign exchange risk on its foreign-currency denominated debt. These hedges may reduce, but do not entirely eliminate, the effect of foreign currency exchange movements, and the Company may choose not to hedge the full amount of its exposure. The gain or loss on derivative instruments designated as fair value hedges included in the assessment of hedge effectiveness is recognized in “Interest and other income (expense),” net with the offsetting foreign currency remeasurement gains and losses on the hedged items. The Company excludes forward points from the assessment of hedge effectiveness and recognizes the initial value of the excluded component over the life of the hedging instrument in “Interest and other income (expense)” on the Consolidated Statements of Operations. The difference between changes in fair value of the excluded component and the amount recognized in earnings is recognized as a component in AOCI. Cash flows from hedging activities are classified in the same category as the cash flows for the underlying item being hedged within "Net cash provided by (used in) financing activities" on the Consolidated Statements of Cash Flows. Net investment hedges The Company designates a portion of its foreign currency-denominated debt as net investment hedges to manage the foreign exchange risk on its investment in certain foreign subsidiaries. These hedges may reduce, but do not entirely eliminate, the effect of foreign currency exchange movements, and the Company may choose not to hedge certain exposures. The gains or losses on these non-derivative instruments are reported as a component of AOCI as part of the cumulative translation adjustment on the Company’s Consolidated Balance Sheets. The accumulated gains and losses remain in AOCI until the hedged net investment is sold or liquidated, at which point the amounts recognized in AOCI are reclassified into earnings. Derivative instruments not designated as hedging instruments The Company enters into forward contracts to manage the foreign exchange risk on intercompany transactions and monetary assets and liabilities that are not denominated in the functional currencies of the Company and its subsidiaries. These derivative instruments are not designated as hedging instruments and may reduce, but do not entirely eliminate, the effect of foreign currency exchange movements. The gains or losses on derivative instruments not designated as hedging instruments are recorded in “Interest and other income (expense)” in the Consolidated Statements of Operations. Cash flows related to these derivative instruments are classified within "Net cash provided by operating activities" on the Consolidated Statements of Cash Flows. See Note 7 Derivative Financial Instruments and Hedging Activities to the consolidated financial statements for further information regarding the Company’s derivative and non-derivative financial instruments. Stock-Based Compensation The Company grants non-qualified stock options to its employees on a monthly basis. For certain executive officers, the Company grants restricted stock units ("RSUs") and performance-based restricted stock units ("PSUs"). Stock-based compensation expense is based on the fair value of the stock awards at the grant date and is recognized, net of forfeitures, over the requisite service period. See Note 9 Stockholders' Equity to the consolidated financial statements for further information regarding stock-based compensation.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following tables summarize streaming revenues, paid net membership additions (losses), and ending paid memberships by region for the years ended December 31, 2024, 2023 and 2022, respectively. Hedging gains of $124 million are included in “Streaming revenues” for the year ended December 31, 2024. No hedging gains and losses were recognized as “Streaming revenues” in the comparative prior year periods. See Note 7 Derivative Financial Instruments and Hedging Activities for further information. United States and Canada (UCAN) As of/Year Ended December 31, 2024 2023 2022 (in thousands) Streaming revenues $ 17,359,369 $ 14,873,783 $ 14,084,643 Paid net membership additions (losses) 9,497 5,832 (919) Paid memberships at end of period (1) 89,625 80,128 74,296 Europe, Middle East, and Africa (EMEA) As of/Year Ended December 31, 2024 2023 2022 (in thousands) Streaming revenues $ 12,387,035 $ 10,556,487 $ 9,745,015 Paid net membership additions 12,320 12,084 2,693 Paid memberships at end of period (1) 101,133 88,813 76,729 Latin America (LATAM) As of/Year Ended December 31, 2024 2023 2022 (in thousands) Streaming revenues $ 4,839,816 $ 4,446,461 $ 4,069,973 Paid net membership additions 7,330 4,298 1,738 Paid memberships at end of period (1) 53,327 45,997 41,699 Asia-Pacific (APAC) As of/Year Ended December 31, 2024 2023 2022 (in thousands) Streaming revenues $ 4,414,746 $ 3,763,727 $ 3,570,221 Paid net membership additions 12,203 7,315 5,391 Paid memberships at end of period (1) 57,541 45,338 38,023 (1) 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 certain other promotions that may be offered by the Company to new or rejoining members. Certain members have the option to add extra member sub accounts. These extra member sub accounts are not included in paid memberships. 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 cancellations, as a result of a failed method of payment, become 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. Deferred revenue primarily 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, 2024, total deferred revenue was $1,521 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 $78 million increase in deferred revenue as compared to the balance of $1,443 million for the year ended December 31, 2023, is a result of the increase in membership fees billed due to increased memberships and price increases.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	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 outstanding shares of common stock during the period. Potential outstanding shares of common stock are calculated using the treasury-stock method and consist of incremental shares issuable upon the assumed exercise of stock options and vesting of time-based and performance-based restricted stock units. The computation of earnings per share is as follows: Year Ended December 31, 2024 2023 2022 (in thousands, except per share data) Basic earnings per share: Net income $ 8,711,631 $ 5,407,990 $ 4,491,924 Shares used in computation: Weighted-average shares of common stock outstanding 429,519 441,571 444,698 Basic earnings per share $ 20.28 $ 12.25 $ 10.10 Diluted earnings per share: Net income $ 8,711,631 $ 5,407,990 $ 4,491,924 Shares used in computation: Weighted-average shares of common stock outstanding 429,519 441,571 444,698 Effect of dilutive stock-based awards 9,742 7,927 6,592 Weighted-average number of shares 439,261 449,498 451,290 Diluted earnings per share $ 19.83 $ 12.03 $ 9.95 The following table summarizes the potential shares of common stock excluded from the diluted calculation as their inclusion would have been anti-dilutive: Year Ended December 31, 2024 2023 2022 (in thousands) Stock-based awards 243 4,109 6,790

Cash, Cash Equivalents, Restric

Cash, Cash Equivalents, Restricted Cash, and Short-term Investments	12 Months Ended
	Dec. 31, 2024
Short-Term Investments And Fair Value Measurement [Abstract]
Cash, Cash Equivalents, Restricted Cash, and Short-term Investments	Cash, Cash Equivalents, Restricted Cash, and Short-term Investments The Company classifies short-term investments, which consist of marketable securities with original maturities in excess of 90 days as available-for-sale (“AFS”). The Company does not buy and hold securities principally for the purpose of selling them in the near future. The Company’s policy is focused on the preservation of capital, liquidity and return. From time to time, the Company may sell certain securities but the objectives are generally not to generate profits on short-term differences in price. The following tables summarize the Company's cash, cash equivalents, restricted cash and short-term investments as of December 31, 2024 and 2023: As of December 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents Short-term investments Other Current Assets Non-current Assets (in thousands) Cash $ 4,866,753 $ — $ — $ 4,866,753 $ 4,864,207 $ — $ 2,472 $ 74 Level 1 securities: Money market funds 2,676,314 — — 2,676,314 2,676,256 — — 58 Level 2 securities: Time Deposits (1) 301,374 — — 301,374 264,270 37,104 — — Government securities (2) 1,738,642 3,260 — 1,741,902 — 1,741,902 — — $ 9,583,083 $ 3,260 $ — $ 9,586,343 $ 7,804,733 $ 1,779,006 $ 2,472 $ 132 As of December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents Short-term investments Other Current Assets Non-current Assets (in thousands) Cash $ 5,988,176 $ — $ — $ 5,988,176 $ 5,986,629 $ — $ 1,466 $ 81 Level 1 securities: Money market funds 925,707 — — 925,707 925,652 — — 55 Level 2 securities: Time Deposits (1) 225,605 — — 225,605 204,632 20,973 — — $ 7,139,488 $ — $ — $ 7,139,488 $ 7,116,913 $ 20,973 $ 1,466 $ 136 (1) The majority of the Company's time deposits are international deposits, which mature within one year. (2) The Company's government securities mature within one year. Other current assets include restricted cash for deposits related to self-insurance. Non-current assets include restricted cash related to letter of credit agreements. The fair value of AFS securities, cash equivalents and short-term investments 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 6 Debt and Note 7 Derivative Financial Instruments and Hedging Activities to the consolidated financial statements for further information regarding the fair value of the Company’s senior notes and derivative financial instruments.

Balance Sheet Components

Balance Sheet Components	12 Months Ended
	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components Content Assets, Net Content assets consisted of the following: As of December 31, 2024 2023 (in thousands) Licensed content, net $ 12,422,309 $ 12,722,701 Produced content, net Released, less amortization 10,151,543 9,843,150 In production 9,317,367 8,247,578 In development and pre-production 561,243 844,627 20,030,153 18,935,355 Content assets, net $ 32,452,462 $ 31,658,056 As of December 31, 2024, approximately $6,409 million, $2,465 million, and $1,431 million of the $12,422 million unamortized cost of the licensed content is expected to be amortized in each of the next three years. As of December 31, 2024, approximately $3,954 million, $2,767 million, and $1,718 million of the $10,152 million unamortized cost of the produced content that has been released is expected to be amortized in each of the next three years. The following table summarizes the amortization of content assets: Year Ended December 31, 2024 2023 2022 (in thousands) Licensed content $ 7,689,014 $ 7,145,446 $ 7,681,978 Produced content (1) 7,612,503 7,051,991 6,344,154 Total $ 15,301,517 $ 14,197,437 $ 14,026,132 (1) Tax incentives earned on qualified production spend generally reduce the cost-basis of content assets and result in lower content amortization over the life of the title. For the years ended December 31, 2024, 2023 and 2022, tax incentives resulted in lower content amortization on produced content of approximately $899 million, $835 million and $719 million, respectively. Property and Equipment, Net Property and equipment and accumulated depreciation consisted of the following: As of December 31, Estimated Useful Lives (in Years) 2024 2023 (in thousands) Land $ 85,000 $ 85,000 Buildings and improvements 475,684 154,165 30 years Leasehold improvements 1,026,593 1,032,492 Over life of lease Furniture and fixtures 134,987 144,737 3 years Information technology 446,419 414,092 3 years Corporate aircraft 99,175 99,175 8-10 years Machinery and equipment 15,135 10,334 3-5 years Capital work-in-progress 228,300 406,492 Property and equipment, gross 2,511,293 2,346,487 Less: Accumulated depreciation (917,537) (855,043) Property and equipment, net $ 1,593,756 $ 1,491,444 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 20 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 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 Consolidated Balance Sheets. Operating lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company has entered into various short-term operating leases 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. 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 which may contain lease and non-lease components which it has elected to treat as a single lease component. The components of lease costs for the years ended December 31, 2024, 2023 and 2022 were as follows: Year ended December 31, 2024 2023 2022 (in thousands) Operating lease cost $ 468,282 $ 430,856 $ 413,664 Short-term lease cost 197,691 207,822 194,764 Total lease cost $ 665,973 $ 638,678 $ 608,428 Information related to the Company's operating right-of-use assets and related operating lease liabilities were as follows: Year ended December 31, 2024 2023 2022 (in thousands) Cash paid for operating lease liabilities $ 509,296 $ 451,525 $ 413,034 Right-of-use assets obtained in exchange for new operating lease obligations 442,391 196,639 252,393 As of December 31, 2024 2023 (in thousands, except lease term and discount rate) Operating lease right-of-use assets, net $ 2,102,310 $ 2,076,899 Current operating lease liabilities $ 428,482 $ 383,312 Non-current operating lease liabilities 1,983,688 2,046,801 Total operating lease liabilities $ 2,412,170 $ 2,430,113 Weighted-average remaining lease term 6.9 years 7.5 years Weighted-average discount rate 3.5 % 3.3 % Maturities of operating lease liabilities as of December 31, 2024 were as follows (in thousands): Due in 12 month period ended December 31, 2025 $ 505,201 2026 477,256 2027 415,983 2028 345,912 2029 276,109 Thereafter 696,367 2,716,828 Less imputed interest (304,658) Total operating lease liabilities $ 2,412,170 The Company has additional operating leases for real estate of $38 million which have not commenced as of December 31, 2024, and as such, have not been recognized on the Company's Consolidated Balance Sheets. These operating leases are expected to commence in 2025 with lease terms between 3 and 7 years. Other Current Assets Other current assets consisted of the following: As of December 31, December 31, (in thousands) Trade receivables $ 1,335,304 $ 1,287,054 Prepaid expenses 431,924 408,936 Other (1) 1,749,412 1,084,257 Total other current assets $ 3,516,640 $ 2,780,247

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt As of December 31, 2024, the Company had aggregate outstanding notes of $15,583 million, net of $70 million of issuance costs and discounts, with varying maturities (the "Notes"). Of the outstanding balance, $1,784 million, net of issuance costs, is classified as short-term debt on the Consolidated Balance Sheets. As of December 31, 2023, the Company had aggregate outstanding notes of $14,543 million, net of $65 million of issuance costs. Each of the Notes are senior unsecured obligations of the Company. Interest is payable semi-annually at fixed rates. A portion of the outstanding Notes is denominated in foreign currency (comprised of €5,170 million) and is remeasured into U.S. dollars at each balance sheet date (with remeasurement gain, net of hedging impacts, totaling $122 million for the year ended December 31, 2024). See Note 7 Derivative Financial Instruments and Hedging Activities to the consolidated financial statements for further information regarding the Company’s derivative and non-derivative financial instruments. The following table provides a summary of the Company's outstanding debt and the fair values based on quoted market prices in less active markets as of December 31, 2024 and December 31, 2023: Principal Amount at Par Level 2 Fair Value as of December 31, December 31, Issuance Date Maturity December 31, December 31, (in millions) (in millions) 5.750% Senior Notes $ — $ 400 February 2014 March 2024 $ — $ 400 5.875% Senior Notes 800 800 February 2015 February 2025 801 807 3.000% Senior Notes (1) 487 519 April 2020 June 2025 487 516 3.625% Senior Notes 500 500 April 2020 June 2025 497 491 4.375% Senior Notes 1,000 1,000 October 2016 November 2026 998 996 3.625% Senior Notes (1) 1,346 1,434 May 2017 May 2027 1,375 1,454 4.875% Senior Notes 1,600 1,600 October 2017 April 2028 1,607 1,621 5.875% Senior Notes 1,900 1,900 April 2018 November 2028 1,970 2,009 4.625% Senior Notes (1) 1,139 1,215 October 2018 May 2029 1,220 1,300 6.375% Senior Notes 800 800 October 2018 May 2029 848 872 3.875% Senior Notes (1) 1,242 1,325 April 2019 November 2029 1,293 1,372 5.375% Senior Notes 900 900 April 2019 November 2029 918 931 3.625% Senior Notes (1) 1,139 1,215 October 2019 June 2030 1,174 1,237 4.875% Senior Notes 1,000 1,000 October 2019 June 2030 996 1,012 4.900% Senior Notes 1,000 — August 2024 August 2034 982 — 5.400% Senior Notes 800 — August 2024 August 2054 782 — $ 15,653 $ 14,608 $ 15,948 $ 15,018 (1) The following Senior Notes have a principal amount denominated in euros: 3.000% Senior Notes for €470 million, 3.625% Senior Notes for €1,300 million, 4.625% Senior Notes for €1,100 million, 3.875% Senior Notes for €1,200 million, and 3.625% Senior Notes for €1,100 million. In the year ended December 31, 2024, the Company repaid upon maturity the $400 million aggregate principal amount of its 5.750% Senior Notes. 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, 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. Certain of the Notes additionally limit the ability to enter into sale and lease-back transactions and create, assume, incur or guarantee additional indebtedness of certain of the Company's subsidiaries. As of December 31, 2024 and December 31, 2023, the Company was in compliance with all related covenants. Revolving Credit Facility On April 12, 2024, the Company entered into a five-year, $3 billion unsecured revolving credit facility that matures on April 12, 2029 (the “Revolving Credit Agreement”), to replace its previous $1 billion unsecured revolving credit facility. As of December 31, 2024, 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 per annum equal to a base rate (the “Alternate Base Rate”) plus an applicable margin or (ii) a per annum rate equal to an adjusted term SOFR rate (the “Adjusted Term SOFR Rate”) plus an applicable margin. The applicable margin for Alternate Base Rate loans will range from 0.00% to 0.25%, and the applicable margin for Adjusted Term SOFR Rate loans will range from 0.75% to 1.25%, each based on the Company’s credit ratings. The Revolving Credit Agreement contains customary affirmative covenants and negative covenants (and customary baskets and exceptions with respect thereto) for a credit facility of this size and type and requires the Company to maintain a minimum ratio of consolidated EBITDA to consolidated interest expense of 3.0 to 1.0 as of the last day of each fiscal quarter. As of December 31, 2024 and December 31, 2023, the Company was in compliance with all related covenants and ratios.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging Activities The Company uses derivative and non-derivative instruments to manage foreign exchange risk related to its ongoing business operations with the primary objective of reducing earnings and cash flow volatility associated with fluctuations in foreign exchange rates. The Company did not use any derivative instruments prior to the fiscal year ended December 31, 2023. Notional Amount of Derivative Contracts The net notional amounts of the Company’s outstanding derivative instruments were as follows: As of December 31, 2024 2023 (in thousands) Derivatives designated as hedging instruments: Foreign exchange contracts Cash flow hedges $ 18,508,390 $ 8,783,273 Fair value hedges 3,819,817 — Derivatives not designated as hedging instruments: Foreign exchange contracts 1,432,136 — Total $ 23,760,343 $ 8,783,273 As of December 31, 2024, approximately $1.0 billion of the Company’s euro–denominated Senior Notes was designated as a hedge of the foreign exchange risk of the Company’s net investment in certain foreign subsidiaries. No amounts were designated as net investment hedges as of December 31, 2023. As of December 31, 2024, the carrying amount of the Company's euro-denominated Senior Notes (included in "Long-term debt" on the Company's Consolidated Balance Sheets) which were designated as the hedged items in fair value hedges was approximately $3.6 billion. No amounts were designated as fair value hedges as of December 31, 2023. See Note 6 Debt for further information on the Company’s debt obligations. Fair Value of Derivative Contracts The fair value of the Company’s outstanding derivative instruments was as follows: As of December 31, 2024 Derivative Assets Derivative Liabilities Other current assets Other non-current assets Accrued expenses and other liabilities Other non-current liabilities (in thousands) Derivatives designated as hedging instruments: Foreign exchange contracts $ 580,065 $ 406,677 $ 303,425 $ 83 Derivatives not designated as hedging instruments: Foreign exchange contracts 16,211 — 14,492 — Total $ 596,276 $ 406,677 $ 317,917 $ 83 As of December 31, 2023 Derivative Assets Derivative Liabilities Other current assets Other non-current assets Accrued expenses and other liabilities Other non-current liabilities (in thousands) Derivatives designated as hedging instruments: Foreign exchange contracts $ 26,416 $ 4,518 $ 140,089 $ 46,575 Derivatives not designated as hedging instruments: Foreign exchange contracts — — — — Total $ 26,416 $ 4,518 $ 140,089 $ 46,575 The Company classifies derivative instruments in the Level 2 category within the fair value hierarchy. These instruments are valued using industry standard valuation models that use observable inputs such as interest rate yield curves, and forward and spot prices for currencies. As of December 31, 2024, the pre-tax net accumulated gain on our foreign currency cash flow hedges included in AOCI on the Consolidated Balance Sheets expected to be recognized in earnings within the next 12 months is $564 million. Master Netting Agreements In order to mitigate counterparty credit risk, the Company enters into master netting agreements with its counterparties for its foreign currency exchange contracts which permit the parties to settle amounts on a net basis under certain conditions. The Company has elected to present its derivative assets and liabilities on a gross basis on its Consolidated Balance Sheets. The Company also enters into collateral security arrangements with its counterparties that require the parties to post cash collateral when certain contractual thresholds are met. Cash collateral received is presented in “Accrued expenses and other liabilities” representing the Company’s obligation to return counterparty cash collateral. Cash collateral posted is presented in “Other current assets” representing the Company’s right to reclaim the cash collateral. The Company does not offset the fair value of its derivative instruments against the fair value of cash collateral posted or received. The potential offsetting effect to the Company’s derivative assets and liabilities under its master netting agreements and collateral security agreements were as follows: As of December 31, 2024 Gross Amount Not Offset in the Consolidated Balance Sheets Gross Amount Recognized in the Consolidated Balance Sheets Gross Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Financial Instruments Collateral Received and Posted Net Amount (in thousands) Derivative assets $ 1,002,953 $ — $ 1,002,953 $ (316,320) $ (1,800) $ 684,833 Derivative liabilities 318,000 — 318,000 (316,320) — $ 1,680 As of December 31, 2023 Gross Amount Not Offset in the Consolidated Balance Sheets Gross Amount Recognized in the Consolidated Balance Sheets Gross Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Financial Instruments Collateral Received and Posted Net Amount (in thousands) Derivative assets $ 30,934 $ — $ 30,934 $ (27,246) $ — $ 3,688 Derivative liabilities 186,664 — 186,664 (27,246) — 159,418 Effect of Derivative and Non-Derivative Instruments on Consolidated Financial Statements The pre-tax gains (losses) on the Company’s cash flow hedges, fair value hedges, and net investment hedges recognized in AOCI were as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Cash flow hedges: Foreign exchange contracts Amount included in the assessment of effectiveness $ 1,195,738 $ (155,730) $ — Fair value hedges: Foreign exchange contracts Amount excluded from the assessment of effectiveness (14,334) — — Net investment hedges: Foreign currency-denominated debt Amount included in the assessment of effectiveness 32,400 — — Total $ 1,213,804 $ (155,730) $ — The gains (losses) on hedged items and derivative instruments recognized in the Consolidated Statement of Operations were as follows: Year Ended December 31, 2024 Revenues Cost of Revenues Interest and other income (expense) (in thousands) Total amounts presented in the Consolidated Statements of Operations $ 39,000,966 $ 21,038,464 $ 266,776 Gains on derivatives in cash flow hedging relationship Foreign exchange contracts Amount of gains reclassified from AOCI 124,010 1,629 — Gains (losses) on derivatives in fair value hedging relationship Foreign exchange contracts Hedged items — — 196,660 Derivatives designated as hedging instruments — — (201,239) Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach — — (23,567) Gains on derivatives not designated as hedging instruments Foreign exchange contracts — — 63,291 No gains or losses on derivative instruments were reclassified from AOCI into the Consolidated Statements of Operations in the years ended December 31, 2023 and December 31, 2022.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Content At December 31, 2024, the Company had $23.2 billion of obligations comprised of $4.4 billion included in "Current content liabilities" and $1.8 billion of "Non-current content liabilities" on the Consolidated Balance Sheets and $17.0 billion of obligations that are not reflected on the Consolidated Balance Sheets as they did not yet meet the criteria for recognition. At December 31, 2023, the Company had $21.7 billion of obligations comprised of $4.5 billion included in "Current content liabilities" and $2.6 billion of "Non-current content liabilities" on the Consolidated Balance Sheets and $14.6 billion of obligations that are not reflected on the Consolidated Balance Sheets as they did not yet meet the criteria for recognition. The expected timing of payments for these content obligations is as follows: As of December 31, 2024 2023 (in thousands) Less than one year $ 11,424,696 $ 10,328,923 Due after one year and through three years 8,113,910 8,784,302 Due after three years and through five years 2,809,834 2,016,358 Due after five years 900,491 583,766 Total content obligations $ 23,248,931 $ 21,713,349 Content obligations include amounts related to the acquisition, licensing and production of 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. Non-Income Taxes The Company is routinely under audit by various tax authorities with regard to non-income tax matters. The subject matter of non-income tax audits primarily arises from disputes on the tax treatment and tax rate applied to our revenue in certain jurisdictions. We accrue non-income taxes that may result from examinations by, or any negotiated agreements with, these tax authorities when a loss is probable and reasonably estimable. Similar to other U.S. companies doing business in Brazil, the Company is involved in a number of matters with Brazilian tax authorities regarding non-income tax assessments. Although the Company believes it has meritorious defenses to these matters, there is inherent complexity and uncertainty with respect to these matters, and the final outcome may be materially different from our expectations. The current potential exposure with respect to the various issues with Brazilian tax authorities regarding non-income tax assessments is estimated to be approximately $400 million, which is expected to increase over time. 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, 2024
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 Plan The Netflix, Inc. 2020 Stock Plan is a stockholder-approved plan that 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. Restricted Stock Unit Awards The Company grants time-based restricted stock unit (“RSU”) awards and performance-based restricted stock unit (“PSU”) awards to certain executive officers. RSU awards vest quarterly over a three-year period subject to the executive’s continued employment or service with the Company through the vesting date. PSU awards have performance periods ranging from one Stock Option Activity The following table summarizes the activities related to the Company’s stock options: Options Outstanding Number of Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Balances as of December 31, 2021 17,595,851 $ 219.83 Granted 3,691,257 267.94 Exercised (1,383,669) 27.19 Expired (6,578) 11.10 Balances as of December 31, 2022 19,896,861 $ 242.22 Granted 1,729,218 372.49 Exercised (1,926,598) 87.30 Expired (4,372) 36.39 Balances as of December 31, 2023 19,695,109 $ 268.86 Granted 575,856 620.92 Exercised (4,846,048) 172.17 Expired (5,915) 56.05 Balances as of December 31, 2024 15,419,002 $ 312.48 5.16 $ 8,925,315 Vested and expected to vest as of December 31, 2024 15,419,002 $ 312.48 5.16 $ 8,925,315 Exercisable as of December 31, 2024 15,401,292 $ 312.30 5.16 $ 8,917,827 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 2024 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 2024. This amount changes based on the fair market value of the Company’s common stock. A summary of the amounts related to option exercises, is as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Total intrinsic value of options exercised $ 2,352,829 $ 610,594 $ 345,839 Cash received from options exercised 832,887 169,990 35,746 The total fair value of stock options that vested during the years ended December 31, 2024 and 2023 was $242 million and $311 million, respectively. The Company did not grant any stock options subject to vesting conditions in the year ended December 31, 2022. Restricted Stock Unit Activity The following table summarizes the activities related to the Company’s unvested RSUs and PSUs: Unvested Restricted Stock Units Number of Weighted- Balances as of December 31, 2023 — $ — Granted (1) 159,978 686.36 Vested (1) (26,660) 562.00 Forfeited — — Balances as of December 31, 2024 133,318 $ 711.23 (1) Amounts exclude 26,660 incremental PSU awards that will be granted and 53,320 incremental PSU awards that will vest based on the achievement of market-based performance targets during the period presented, but have not been settled as of December 31, 2024. The total fair value of RSUs that vested during the year ended December 31, 2024 was $15 million. No RSUs or PSUs were granted in the years ended December 31, 2023 and December 31, 2022. Stock-Based Compensation The following table summarizes total stock-based compensation expense and the related income tax impact: Year Ended December 31, 2024 2023 2022 (in thousands) Total stock-based compensation expense $ 272,588 $ 339,368 $ 575,452 Total income tax impact on provision 43,876 61,588 127,289 As of December 31, 2024, $46 million of total unrecognized compensation cost related to unvested stock options and RSUs is expected to be recognized over a weighted-average period of 1.4 years. Stock Repurchases In September 2023, the Board of Directors authorized the repurchase of up to $10 billion, with no expiration date, and in December 2024, the Board of Directors increased the share repurchase authorization by an additional $15 billion, also with no expiration date. Stock repurchases may be effected through open market repurchases in compliance with Rule 10b-18 under the Exchange Act, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act, privately-negotiated transactions, accelerated stock repurchase plans, block purchases, or other similar purchase techniques and in such amounts as management deems appropriate. The Company is not obligated to repurchase any specific number of shares, and the timing and actual number of shares repurchased will depend on a variety of factors, including the Company’s stock price, general economic, business and market conditions, and alternative investment opportunities. The Company may discontinue any repurchases of its common stock at any time without prior notice. During the year ended December 31, 2024, the Company repurchased 9,861,935 shares for an aggregate amount of $6,211 million (excluding the 1% excise tax on stock repurchases as a result of the Inflation Reduction Act of 2022). As of December 31, 2024, $17.1 billion remains available for repurchases. Shares repurchased by the Company are accounted for when the transaction is settled. As of December 31, 2024, there were no unsettled share repurchases. Direct costs incurred to acquire the shares are included in the total cost of the shares. Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated balances of other comprehensive income (loss): Foreign Currency Translation Net Investment Hedge Gains (Losses) Change in Unrealized Gains (Losses) on Cash Flow Hedges Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges Change in Unrealized Gains (Losses) Tax (Expense) Benefit Total (in thousands) Balances as of December 31, 2021 $ (40,495) $ — $ — $ — $ — $ — $ (40,495) Other comprehensive income (loss) before reclassifications (176,811) — — — — — (176,811) Amounts reclassified from accumulated other comprehensive income (loss) — — — — — — — Net change in accumulated other comprehensive income (loss) (176,811) — — — — — (176,811) Balances as of December 31, 2022 (217,306) — — — — — (217,306) Other comprehensive income (loss) before reclassifications 113,384 — (155,730) — — 35,707 (6,639) Amounts reclassified from accumulated other comprehensive income (loss) — — — — — — — Net change in accumulated other comprehensive income (loss) 113,384 — (155,730) — — 35,707 (6,639) Balances as of December 31, 2023 (103,922) — (155,730) — — 35,707 (223,945) Other comprehensive income (loss) before reclassifications (272,911) 32,400 1,195,738 (14,334) 3,260 (279,408) 664,745 Amounts reclassified from accumulated other comprehensive income (loss) — — (125,639) 23,567 — 23,434 (78,638) Net change in accumulated other comprehensive income (loss) (272,911) 32,400 1,070,099 9,233 3,260 (255,974) 586,107 Balances as of December 31, 2024 $ (376,833) $ 32,400 $ 914,369 $ 9,233 $ 3,260 $ (220,267) $ 362,162 The following table summarizes the amounts reclassified from AOCI to the Consolidated Statement of Operations: Year Ended December 31, 2024 Revenues Cost of Revenues Interest and other income (expense) Provision for Income Taxes Total Reclassifications (in thousands) Gains (losses) on derivatives in cash flow hedging relationship Foreign exchange contracts Amount of gains (losses) reclassified from AOCI $ 124,010 $ 1,629 $ — $ (28,844) $ 96,795 Gains (losses) on derivatives in fair value hedging relationship Foreign exchange contracts Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach — — (23,567) 5,410 (18,157) Total $ 124,010 $ 1,629 $ (23,567) $ (23,434) $ 78,638 No amounts were reclassified from AOCI into the Consolidated Statements of Operations in the years ended December 31, 2023 and 2022.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before provision for income taxes was as follows: Year Ended December 31, 2024 2023 2022 (in thousands) United States $ 9,101,391 $ 5,602,762 $ 4,623,218 Foreign 864,266 602,643 640,711 Income before income taxes $ 9,965,657 $ 6,205,405 $ 5,263,929 The components of provision for income taxes for all periods presented were as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Current tax provision: Federal $ 1,093,667 $ 854,170 $ 109,910 State 214,814 181,684 119,795 Foreign 536,915 304,539 676,827 Total current 1,845,396 1,340,393 906,532 Deferred tax provision: Federal (520,510) (412,760) (52,434) State (41,700) (55,475) (30,691) Foreign (29,160) (74,743) (51,402) Total deferred (591,370) (542,978) (134,527) Provision for income taxes $ 1,254,026 $ 797,415 $ 772,005 A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory Federal income tax rate to income before income taxes is as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Expected tax expense at U.S. Federal statutory tax rate $ 2,092,710 $ 1,303,123 $ 1,105,428 State income taxes, net of Federal income tax effect 166,311 104,717 92,084 Foreign earnings at other than U.S. rates 13,909 (32,292) 104,665 Research and development tax credit (185,312) (87,036) (146,615) Excess tax benefits on stock-based compensation (435,909) (119,043) (75,211) Foreign-derived intangible income deduction (502,968) (426,597) (361,013) Nontaxable and nondeductible items 70,386 41,782 44,046 Other 34,899 12,761 8,621 Provision for income taxes $ 1,254,026 $ 797,415 $ 772,005 Effective Tax Rate 13 % 13 % 15 % The components of deferred tax assets and liabilities were as follows: As of December 31, 2024 2023 (in thousands) Deferred tax assets: Stock-based compensation $ 440,889 $ 486,876 Tax credits and net operating loss carryforwards 834,402 544,431 Capitalized research expenses 1,075,474 593,439 Accruals and reserves 152,142 137,251 Operating lease liabilities 522,489 516,574 OCI hedging losses — 35,707 Unrealized losses 12,157 26,506 Other 18,197 11,615 Total deferred tax assets 3,055,750 2,352,399 Valuation allowance (540,272) (442,293) Net deferred tax assets 2,515,478 1,910,106 Deferred tax liabilities: Depreciation & amortization (370,709) (357,477) Operating right-of-use lease assets (449,661) (435,216) OCI hedging gains (220,009) — Acquired intangibles (282,187) (233,433) Other (15,354) (9,430) Total deferred tax liabilities (1,337,920) (1,035,556) Net deferred tax assets $ 1,177,558 $ 874,550 The following table shows the deferred tax assets and liabilities within our Consolidated Balance Sheets: As of December 31, 2024 2023 (in thousands) Total deferred tax assets: Other non-current assets $ 1,290,160 $ 1,000,760 Total deferred tax liabilities: Other non-current liabilities (112,602) (126,210) Net deferred tax assets $ 1,177,558 $ 874,550 As of December 31, 2024, for tax return purposes, the Company had $694 million of California R&D tax credit carryforwards which can be carried forward indefinitely, $943 million of state net operating loss carryforwards which will begin to expire in 2026, $41 million of foreign tax credit carryforwards which will begin to expire in 2033, and $420 million of foreign net operating loss carryforwards which will begin to expire in 2025. 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, 2024, the valuation allowance of $540 million was primarily related to California R&D tax credits, state net operating loss carryforwards, and foreign tax credits that the Company does not expect to realize. At December 31, 2024, we have not provided for applicable U.S. income and foreign withholding taxes on an immaterial amount of undistributed foreign earnings that we intend to indefinitely reinvest. For the balance of undistributed earnings for which we are not indefinitely reinvested, we have provided the appropriate taxes. 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, 2024 and 2023, the total amount of gross unrecognized tax benefits was $432 million and $327 million, respectively, of which $251 million and $188 million, respectively, 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: As of December 31, 2024 2023 2022 (in thousands) Balance at the beginning of the year $ 327,105 $ 226,977 $ 202,557 Increases related to tax positions taken during the current period 93,325 65,630 26,865 Increases related to tax positions taken during prior periods 15,751 76,794 — Decreases related to tax positions taken during prior periods (3,901) (10,117) (2,445) Decreases related to settlements with taxing authorities — (32,179) — Decreases related to expiration of statute of limitations — — — Balance at the end of the year $ 432,280 $ 327,105 $ 226,977 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. During the years ended December 31, 2024, 2023 and 2022, the Company recorded $16 million, $25 million, and $2 million, respectively, net of interest and penalties in the provision for income taxes. The amount of interest and penalties accrued at December 31, 2024 and 2023 was $44 million and $28 million, respectively. The Company files U.S. Federal, state and foreign tax returns. The Company is currently under examination by the IRS for years 2016 through 2018 and is subject to examination for 2019 through 2023. The Company is also generally subject to examination by various state and foreign jurisdictions for years 2017 through 2023. While the Company is in various stages of inquiry and examination with certain taxing authorities and believes that its tax positions will more likely than not be sustained, it is nonetheless possible that future obligations related to these matters could arise. The Company believes that adequate amounts have been reserved for any adjustments that may ultimately result from an examination. Given the potential outcome of current examinations, 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, 2024
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 the years ended December 31, 2024, 2023 and 2022, the Company’s matching contributions totaled $128 million, $114 million and $102 million, respectively. Multiemployer Benefit Plans The Company contributes to various multiemployer defined pension plans under the terms of collective bargaining agreements that cover our union-represented employees. The risks of participating in multiemployer pension plans are different from single-employer plans such that (i) contributions made by the Company to the multiemployer pension plans may be used to provide benefits to employees of other participating employers; (ii) if the Company chooses to stop participating in the multiemployer pension plans, it may be required to pay those plans an amount based on the underfunded status of the plan; and (iii) if a company stops contributing to the multiemployer pension plan, the unfunded obligations of the plan may become the obligation of the remaining participating employers. The Company also contributes to various other multiemployer benefit plans that provide health and welfare benefits to both active and retired participants. The Company does not participate in any multiemployer benefit plans that are individually significant to the Company. The following table summarizes the Company's contributions to multiemployer pension and health plans for the years ended December 31, 2024, 2023 and 2022, respectively: Year Ended December 31, 2024 2023 2022 (in thousands) Pension benefits $ 89,707 $ 57,285 $ 127,885 Health benefits 134,079 85,157 96,285 Total contributions $ 223,786 $ 142,442 $ 224,170

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment and Geographic Information	Segment and Geographic Information The Company operates as one operating segment. The Company's chief operating decision maker ("CODM") is its co-chief executive officers, who review financial information presented on a consolidated basis. The CODM uses consolidated operating margin and net income to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the rate at which the Company seeks to grow global operating margin and the allocation of budget between cost of revenues, sales and marketing, technology and development, and general and administrative expenses. The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands) Revenues $ 39,000,966 $ 33,723,297 $ 31,615,550 Less: Content amortization 15,301,517 14,197,437 14,026,132 Other cost of revenues 5,736,947 5,517,931 5,142,153 Sales and marketing 2,917,554 2,657,883 2,530,502 Technology and development 2,925,295 2,675,758 2,711,041 General and administrative 1,702,039 1,720,285 1,572,891 Operating income 10,417,614 6,954,003 5,632,831 Operating margin 27 % 21 % 18 % Other income (expense) Interest expense (718,733) (699,826) (706,212) Interest and other income (expense) (1) 266,776 (48,772) 337,310 Income before income taxes 9,965,657 6,205,405 5,263,929 Provision for income taxes (1,254,026) (797,415) (772,005) Net income $ 8,711,631 $ 5,407,990 $ 4,491,924 (1) Includes interest income of $294 million, $281 million and $60 million for the years ended December 31, 2024, 2023 and 2022, respectively. See the consolidated financial statements for other financial information regarding the Company’s operating segment. Total U.S. revenues were $16.1 billion, $13.8 billion and $13.0 billion for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 2 Revenue Recognition for additional information about streaming revenue by region. The Company's long-lived tangible assets, as well as the Company's operating lease right-of-use assets recognized on the Consolidated Balance Sheets were located as follows: As of December 31, 2024 2023 (in thousands) United States $ 2,769,828 $ 2,724,710 International 926,238 843,633

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 8,711,631	$ 5,407,990	$ 4,491,924

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		The adoption or termination of contracts, instructions or written plans for the purchase or sale of our securities by our Section 16 officers and directors for the three months ended December 31, 2024, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (“Rule 10b5-1 Plan”), were as follows: Name Title Action Date Adopted Expiration Date Aggregate # of Securities to be Purchased/Sold Greg Peters (1) Co-CEO and Director Termination 10/30/2024 N/A 187,913 Greg Peters (2) Co-CEO and Director Adoption 10/30/2024 11/1/2027 158,583 David Hyman (3) Chief Legal Officer Adoption 10/29/2024 1/30/2026 104,154 Ted Sarandos (4) Co-CEO and Director Adoption 10/25/2024 2/27/2026 199,063 Spencer Neumann (5) Chief Financial Officer Adoption 10/29/2024 12/31/2025 33,406 Ann Mather (6) Director Adoption 10/31/2024 12/31/2025 2,682 Strive Masiyiwa (7) Director Adoption 11/7/2024 12/31/2025 2,813 Jeffrey Karbowski (8) Chief Accounting Officer Adoption 10/29/2024 1/31/2026 3,820 (1) On October 30, 2024, Greg Peters, Co-CEO and a member of the Board of Directors, terminated a pre-arranged stock trading plan pursuant to Rule 10b5-1, which was adopted on July 26, 2023 and provided for the potential exercise of vested stock options and the associated sale of up to 187,913 shares of Netflix common stock until November 1, 2027 or the earlier completion of all authorized transactions under the plan. (2) Upon termination of Mr. Peters' prior plan (described in footnote 1), on October 30, 2024, Mr. Peters entered into a pre-arranged stock trading plan pursuant to Rule 10b5-1 that provides for the potential exercise of vested stock options and the associated sale of up to 158,583 shares of Netflix common stock. This figure includes a grant of 31,112 Performance Share Units (PSUs) that are expected to vest during the term of the 10b5-1 plan, which are assumed to vest at 100% of the target award amount. The actual number of PSUs that may vest can vary between 0% - 200% of the target award of PSUs, subject to the achievement of certain performance conditions as set forth in the PSU award agreement, less shares to be withheld for tax withholding obligations. The plan expires on November 1, 2027, or upon the earlier completion of all authorized transactions under the plan. (3) David Hyman, Chief Legal Officer, entered into a pre-arranged stock trading plan pursuant to Rule 10b5-1 on October 29, 2024. Mr. Hyman's plan provides for the potential exercise of vested stock options and the associated sale of up to 104,154 shares of Netflix common stock. This figure includes 2,174 PSUs that are expected to vest during the term of the 10b5-1 plan, which are assumed to vest at 100% of the target award amount. The actual number of PSUs that may vest can vary between 0% - 200% of the target award of PSUs, subject to the achievement of certain performance conditions as set forth in the PSU award agreement, less shares to be withheld for tax withholding obligations. The plan expires on January 30, 2026, or upon the earlier completion of all authorized transactions under the plan. (4) Ted Sarandos, co-CEO and a member of the Board of Directors, entered into a pre-arranged stock trading plan pursuant to Rule 10b5-1 on October 25, 2024. Mr. Sarandos' plan provides for the potential exercise of vested stock options and the associated sale of up to 199,063 shares of Netflix common stock. The plan expires on February 27, 2026, or upon the earlier completion of all authorized transactions under the plan. (5) Spencer Neumann, Chief Financial Officer, entered into a pre-arranged stock trading plan pursuant to Rule 10b5-1 on October 29, 2024. Mr. Neumann's plan provides for the potential exercise of vested stock options and the associated sale of up to 33,406 shares of Netflix common stock. The plan expires on December 31, 2025, or upon the earlier completion of all authorized transactions under the plan. (6) Ann Mather, a member of the Board of Directors, entered into a pre-arranged stock trading plan pursuant to Rule 10b5-1 on October 31, 2024. Ms. Mather's plan provides for the potential exercise of vested stock options and the associated sale of up to 2,682 shares of Netflix common stock. The plan expires on December 31, 2025, or upon the earlier completion of all authorized transactions under the plan. (7) Strive Masiyiwa, a member of the Board of Directors, entered into a pre-arranged stock trading plan pursuant to Rule 10b5-1 on November 7, 2024. Mr. Masiyiwa's plan provides for the potential exercise of vested stock options and the associated sale of up to 2,813 shares of Netflix common stock. The plan expires on December 31, 2025, or upon the earlier completion of all authorized transactions under the plan. (8) Jeffrey Karbowski, Chief Accounting Officer, entered into a pre-arranged stock trading plan pursuant to Rule 10b5-1 on October 29, 2024. Mr. Karbowski's plan provides for the potential exercise of vested stock options and the associated sale of up to 3,820 shares of Netflix common stock. The plan expires on January 31, 2026, or upon the earlier completion of all authorized transactions under the plan. Other than those disclosed above, none of our directors or officers adopted or terminated a "non-Rule 10b5-1 trading arrangement" as defined in Item 408 of Regulation S-K.
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
David Hyman [Member]
Trading Arrangements, by Individual
Name	David Hyman (3)
Title	Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	10/29/2024
Expiration Date	1/30/2026
Arrangement Duration	458 days
Aggregate Available	104,154	104,154
Ted Sarandos [Member]
Trading Arrangements, by Individual
Name	Ted Sarandos (4)
Title	Co-CEO and Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	10/25/2024
Expiration Date	2/27/2026
Arrangement Duration	490 days
Aggregate Available	199,063	199,063
Spencer Neumann [Member]
Trading Arrangements, by Individual
Name	Spencer Neumann (5)
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	10/29/2024
Expiration Date	12/31/2025
Arrangement Duration	428 days
Aggregate Available	33,406	33,406
Ann Mather [Member]
Trading Arrangements, by Individual
Name	Ann Mather (6)
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	10/31/2024
Expiration Date	12/31/2025
Arrangement Duration	426 days
Aggregate Available	2,682	2,682
Strive Masiyiwa [Member]
Trading Arrangements, by Individual
Name	Strive Masiyiwa (7)
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	11/7/2024
Expiration Date	12/31/2025
Arrangement Duration	419 days
Aggregate Available	2,813	2,813
Jeffrey Karbowski [Member]
Trading Arrangements, by Individual
Name	Jeffrey Karbowski (8)
Title	Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	10/29/2024
Expiration Date	1/31/2026
Arrangement Duration	459 days
Aggregate Available	3,820	3,820
Greg Peters, Plan Termination [Member] | Greg Peters [Member]
Trading Arrangements, by Individual
Name	Greg Peters (1)
Title	Co-CEO and Director
Rule 10b5-1 Arrangement Terminated	true
Termination Date	10/30/2024
Aggregate Available	187,913	187,913
Greg Peters, Plan Adoption [Member] | Greg Peters [Member]
Trading Arrangements, by Individual
Name	Greg Peters (2)
Title	Co-CEO and Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	10/30/2024
Expiration Date	11/1/2027
Arrangement Duration	1097 days
Aggregate Available	158,583	158,583

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We have an enterprise-wide information security program designed to identify, protect, detect and respond to and manage reasonably foreseeable cybersecurity risks and threats. To protect our information systems from cybersecurity threats, we use various security tools that help prevent, identify, escalate, investigate, resolve and recover from identified vulnerabilities and security incidents in a timely manner. These include, but are not limited to, internal reporting, monitoring and detection tools, and a bug bounty program to allow security researchers to assist us in identifying vulnerabilities in our products before they are exploited by malicious threat actors. We also maintain a third party security program to identify, prioritize, assess, mitigate and remediate third party risks; however, we rely on the third parties we use to implement security programs commensurate with their risk, and we cannot ensure in all circumstances that their efforts will be successful. We regularly assess risks from cybersecurity and technology threats and monitor our information systems for potential vulnerabilities. We use a widely-adopted risk quantification model to identify, measure and prioritize cybersecurity and technology risks and develop related security controls and safeguards. We conduct regular reviews and tests of our information security program and also leverage audits by our internal audit team, tabletop exercises, penetration and vulnerability testing, red team exercises, simulations, and other exercises to evaluate the effectiveness of our information security program and improve our security measures and planning. We also engage an external auditor to conduct an annual payment card industry data security standard review of our security controls protecting payment information, as well as third-party penetration testing of our cardholder environment and related systems. The results of these assessments are reported to the Audit Committee.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have an enterprise-wide information security program designed to identify, protect, detect and respond to and manage reasonably foreseeable cybersecurity risks and threats. To protect our information systems from cybersecurity threats, we use various security tools that help prevent, identify, escalate, investigate, resolve and recover from identified vulnerabilities and security incidents in a timely manner. These include, but are not limited to, internal reporting, monitoring and detection tools, and a bug bounty program to allow security researchers to assist us in identifying vulnerabilities in our products before they are exploited by malicious threat actors. We also maintain a third party security program to identify, prioritize, assess, mitigate and remediate third party risks; however, we rely on the third parties we use to implement security programs commensurate with their risk, and we cannot ensure in all circumstances that their efforts will be successful.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board oversees our annual enterprise risk assessment, where we assess key risks within the company, including security and technology risks and cybersecurity threats. The Audit Committee of the Board oversees our cybersecurity risk and receives regular reports from our VP of Security and Privacy Engineering on various cybersecurity matters, including risk assessments, mitigation strategies, areas of emerging risks, incidents and industry trends, and other areas of importance.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Vice President of Security and Privacy Engineering leads our global information security organization responsible for overseeing the Netflix information security program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Vice President of Security and Privacy Engineering leads our global information security organization responsible for overseeing the Netflix information security program. Our VP of Security and Privacy Engineering has over 30 years of industry experience, including serving in similar roles leading and overseeing cybersecurity programs at other public companies. Team members who support our information security program have relevant educational and industry experience, including holding similar positions at large technology companies. The teams provide regular reports to senior management and other relevant teams on various cybersecurity threats, assessments and findings.
Cybersecurity Risk Role of Management [Text Block]	The Vice President of Security and Privacy Engineering leads our global information security organization responsible for overseeing the Netflix information security program. Our VP of Security and Privacy Engineering has over 30 years of industry experience, including serving in similar roles leading and overseeing cybersecurity programs at other public companies. Team members who support our information security program have relevant educational and industry experience, including holding similar positions at large technology companies. The teams provide regular reports to senior management and other relevant teams on various cybersecurity threats, assessments and findings.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Vice President of Security and Privacy Engineering leads our global information security organization responsible for overseeing the Netflix information security program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our VP of Security and Privacy Engineering has over 30 years of industry experience, including serving in similar roles leading and overseeing cybersecurity programs at other public companies. Team members who support our information security program have relevant educational and industry experience, including holding similar positions at large technology companies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Vice President of Security and Privacy Engineering leads our global information security organization responsible for overseeing the Netflix information security program. Our VP of Security and Privacy Engineering has over 30 years of industry experience, including serving in similar roles leading and overseeing cybersecurity programs at other public companies. Team members who support our information security program have relevant educational and industry experience, including holding similar positions at large technology companies. The teams provide regular reports to senior management and other relevant teams on various cybersecurity threats, assessments and findings.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles ("GAAP") 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 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 issued accounting pronouncements not yet adopted and Recently adopted accounting pronouncements	Recently issued accounting pronouncements not yet adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09. In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses , requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03. Recently adopted accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 during the year ended December 31, 2024. See Note 12 Segment and Geographic Information in the accompanying notes to the consolidated financial statements for further detail.
Cash Equivalents and Short-term Investments	Cash Equivalents and Short-term Investments 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 that it expects to settle within several days as cash equivalents. The Company classifies short-term investments, which consist of marketable securities with original maturities in excess of 90 days as available-for-sale. Short-term investments are reported at fair value, with allowances for credit losses included in “Interest and other income (expense)” in the Consolidated Statements of Operations and unrealized gains and losses included in “Accumulated other comprehensive income (loss)” within Stockholders’ equity in the Consolidated Balance Sheets. The Company uses the specific identification method to determine cost in calculating realized gains and losses upon the sale of short-term investments. Short-term investments are reviewed periodically for allowances for credit losses and impairment. When evaluating the investments, the Company reviews factors such as the extent to which the fair value of the security is less than the amortized cost basis, adverse conditions specifically related to the security, the financial condition of the issuer, the Company’s intent to sell, and whether it would be more likely than not that the Company would be required to sell the investments before the recovery of their amortized cost basis.
Content	Content The Company acquires, licenses and produces content, including original programming, in order to offer members unlimited viewing of video entertainment. 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 content assets and the changes in related liabilities, are classified within "Net cash provided by operating activities" on the Consolidated Statements of Cash Flows. The Company recognizes content assets (licensed and produced) as “Content assets, net” on the Consolidated Balance Sheets. For licensed content, 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 produced content, the Company capitalizes costs associated with the production, including development costs, direct costs and production overhead. 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 over ten years, beginning with the month of first availability. The amortization is on an accelerated basis, as the Company typically expects more upfront viewing, and film amortization is more accelerated than TV series amortization. On average, over 90% of a licensed or produced 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 a regular basis. The Company's estimates related to these factors require considerable management judgment. In the normal course of business, the Company, or a third-party producing content on the Company's behalf, may qualify for tax incentives through eligible spend on productions. The accounting for tax incentives is dependent on the particular type of incentive, including the nature of the benefit and the location the incentive is earned. In general, tax incentives are realized as cash receipts and may be received prior to or after a title launches on the Company’s service. Upon a title’s launch, any amounts the Company is eligible for through qualified production spend but has not received, are recognized in “Other current assets” or “Other non-current assets” on the Company’s Consolidated Balance Sheets as receivables. Tax incentives are generally accounted for as a reduction to the cost basis of the Company’s content assets (presented in “Content assets, net”) and reduce content amortization over the life of the title (as presented in “Cost of revenues”) on the Consolidated Statements of Operations. 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.
Acquisitions	Acquisitions The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded in connection with a business combination as of the acquisition date.
Property and Equipment	Property and Equipment
Trade Receivables	Trade Receivables Trade receivables primarily consist of membership and advertising fees due to the Company. The Company evaluates the need for an allowance for credit losses based on historical collection trends, the financial condition of its payment partners, and external market factors.
Revenue Recognition	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. In circumstances in which the price that the member pays is established by a partner and there is no standalone price for the Netflix service (for instance, in a bundle), the net amount collected from the partner is recognized as revenue.
Sales and Marketing	Sales and Marketing
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 accounts for the tax effects of global intangible low tax income as a current period expense.
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 income" in Stockholders’ equity on the Consolidated Balance Sheets.
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging Activities The Company uses derivative and non-derivative instruments to manage foreign exchange risk related to its ongoing business operations with the primary objective of reducing earnings and cash flow volatility associated with fluctuations in foreign exchange rates. The Company recognizes derivative instruments at fair value as either assets (presented in “Other current assets” and “Other non-current assets”) or liabilities (presented in “Accrued expenses and other liabilities” and “Other non-current liabilities”) on the Company’s Consolidated Balance Sheets. The Company classifies derivative instruments in the Level 2 category within the fair value hierarchy. Cash flow hedges The Company enters into forward contracts to manage the foreign exchange risk on forecasted revenue transactions denominated in currencies other than the U.S. dollar, as well as the foreign exchange risk on forecasted transactions and firm commitments related to the licensing and production of foreign currency-denominated content assets. These forward contracts are designated as cash flow hedges of foreign currency firm commitments and forecasted transactions and generally have maturities of 36 months or less. The hedging contracts may reduce, but do not entirely eliminate, the effect of foreign currency exchange movements, and the Company may choose not to hedge certain exposures. The gain or loss on derivative instruments designated as cash flow hedges of forecasted foreign currency revenue is initially reported as a component of accumulated other comprehensive income (“AOCI”) and reclassified into “Revenues” on the Consolidated Statements of Operations in the same period the forecasted transaction affects earnings. The gain or loss on derivative instruments designated as cash flow hedges of firmly committed or forecasted transactions related to the licensing and production of content assets is initially reported as a component of AOCI and reclassified into “Cost of Revenues” on the Consolidated Statements of Operations in the same period the hedged transaction affects earnings, which occurs as the underlying hedged content assets are amortized. Cash flows from hedging activities are classified in the same category as the cash flows for the underlying item being hedged within "Net cash provided by operating activities" on the Consolidated Statements of Cash Flows. In the event that the likelihood of occurrence of the underlying forecasted transactions is determined to be probable not to occur, the gains or losses on the related cash flow hedges are reclassified from AOCI to “Interest and other income (expense)” in the Consolidated Statements of Operations in the period of dedesignation. Fair value hedges The Company designates forward contracts as fair value hedges to manage the foreign exchange risk on its foreign-currency denominated debt. These hedges may reduce, but do not entirely eliminate, the effect of foreign currency exchange movements, and the Company may choose not to hedge the full amount of its exposure. The gain or loss on derivative instruments designated as fair value hedges included in the assessment of hedge effectiveness is recognized in “Interest and other income (expense),” net with the offsetting foreign currency remeasurement gains and losses on the hedged items. The Company excludes forward points from the assessment of hedge effectiveness and recognizes the initial value of the excluded component over the life of the hedging instrument in “Interest and other income (expense)” on the Consolidated Statements of Operations. The difference between changes in fair value of the excluded component and the amount recognized in earnings is recognized as a component in AOCI. Cash flows from hedging activities are classified in the same category as the cash flows for the underlying item being hedged within "Net cash provided by (used in) financing activities" on the Consolidated Statements of Cash Flows. Net investment hedges The Company designates a portion of its foreign currency-denominated debt as net investment hedges to manage the foreign exchange risk on its investment in certain foreign subsidiaries. These hedges may reduce, but do not entirely eliminate, the effect of foreign currency exchange movements, and the Company may choose not to hedge certain exposures. The gains or losses on these non-derivative instruments are reported as a component of AOCI as part of the cumulative translation adjustment on the Company’s Consolidated Balance Sheets. The accumulated gains and losses remain in AOCI until the hedged net investment is sold or liquidated, at which point the amounts recognized in AOCI are reclassified into earnings. Derivative instruments not designated as hedging instruments The Company enters into forward contracts to manage the foreign exchange risk on intercompany transactions and monetary assets and liabilities that are not denominated in the functional currencies of the Company and its subsidiaries. These derivative instruments are not designated as hedging instruments and may reduce, but do not entirely eliminate, the effect of foreign currency exchange movements. The gains or losses on derivative instruments not designated as hedging instruments are recorded in “Interest and other income (expense)” in the Consolidated Statements of Operations. Cash flows related to these derivative instruments are classified within "Net cash provided by operating activities" on the Consolidated Statements of Cash Flows. See Note 7 Derivative Financial Instruments and Hedging Activities to the consolidated financial statements for further information regarding the Company’s derivative and non-derivative financial instruments.
Stock-Based Compensation	Stock-Based Compensation

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Streaming Revenue, Paid Net Membership Additions, and Ending Paid Memberships by Region	The following tables summarize streaming revenues, paid net membership additions (losses), and ending paid memberships by region for the years ended December 31, 2024, 2023 and 2022, respectively. Hedging gains of $124 million are included in “Streaming revenues” for the year ended December 31, 2024. No hedging gains and losses were recognized as “Streaming revenues” in the comparative prior year periods. See Note 7 Derivative Financial Instruments and Hedging Activities for further information. United States and Canada (UCAN) As of/Year Ended December 31, 2024 2023 2022 (in thousands) Streaming revenues $ 17,359,369 $ 14,873,783 $ 14,084,643 Paid net membership additions (losses) 9,497 5,832 (919) Paid memberships at end of period (1) 89,625 80,128 74,296 Europe, Middle East, and Africa (EMEA) As of/Year Ended December 31, 2024 2023 2022 (in thousands) Streaming revenues $ 12,387,035 $ 10,556,487 $ 9,745,015 Paid net membership additions 12,320 12,084 2,693 Paid memberships at end of period (1) 101,133 88,813 76,729 Latin America (LATAM) As of/Year Ended December 31, 2024 2023 2022 (in thousands) Streaming revenues $ 4,839,816 $ 4,446,461 $ 4,069,973 Paid net membership additions 7,330 4,298 1,738 Paid memberships at end of period (1) 53,327 45,997 41,699 Asia-Pacific (APAC) As of/Year Ended December 31, 2024 2023 2022 (in thousands) Streaming revenues $ 4,414,746 $ 3,763,727 $ 3,570,221 Paid net membership additions 12,203 7,315 5,391 Paid memberships at end of period (1) 57,541 45,338 38,023 (1) 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 certain other promotions that may be offered by the Company to new or rejoining members. Certain members have the option to add extra member sub accounts. These extra member sub accounts are not included in paid memberships. 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 cancellations, as a result of a failed method of payment, become 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.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Earnings Per Share	The computation of earnings per share is as follows: Year Ended December 31, 2024 2023 2022 (in thousands, except per share data) Basic earnings per share: Net income $ 8,711,631 $ 5,407,990 $ 4,491,924 Shares used in computation: Weighted-average shares of common stock outstanding 429,519 441,571 444,698 Basic earnings per share $ 20.28 $ 12.25 $ 10.10 Diluted earnings per share: Net income $ 8,711,631 $ 5,407,990 $ 4,491,924 Shares used in computation: Weighted-average shares of common stock outstanding 429,519 441,571 444,698 Effect of dilutive stock-based awards 9,742 7,927 6,592 Weighted-average number of shares 439,261 449,498 451,290 Diluted earnings per share $ 19.83 $ 12.03 $ 9.95
Schedule of Potential Common Shares Excluded from Diluted Calculation	The following table summarizes the potential shares of common stock excluded from the diluted calculation as their inclusion would have been anti-dilutive: Year Ended December 31, 2024 2023 2022 (in thousands) Stock-based awards 243 4,109 6,790

Cash, Cash Equivalents, Restr_2

Cash, Cash Equivalents, Restricted Cash, and Short-term Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Short-Term Investments And Fair Value Measurement [Abstract]
Schedule of Cash and Cash Equivalents	The following tables summarize the Company's cash, cash equivalents, restricted cash and short-term investments as of December 31, 2024 and 2023: As of December 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents Short-term investments Other Current Assets Non-current Assets (in thousands) Cash $ 4,866,753 $ — $ — $ 4,866,753 $ 4,864,207 $ — $ 2,472 $ 74 Level 1 securities: Money market funds 2,676,314 — — 2,676,314 2,676,256 — — 58 Level 2 securities: Time Deposits (1) 301,374 — — 301,374 264,270 37,104 — — Government securities (2) 1,738,642 3,260 — 1,741,902 — 1,741,902 — — $ 9,583,083 $ 3,260 $ — $ 9,586,343 $ 7,804,733 $ 1,779,006 $ 2,472 $ 132 As of December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents Short-term investments Other Current Assets Non-current Assets (in thousands) Cash $ 5,988,176 $ — $ — $ 5,988,176 $ 5,986,629 $ — $ 1,466 $ 81 Level 1 securities: Money market funds 925,707 — — 925,707 925,652 — — 55 Level 2 securities: Time Deposits (1) 225,605 — — 225,605 204,632 20,973 — — $ 7,139,488 $ — $ — $ 7,139,488 $ 7,116,913 $ 20,973 $ 1,466 $ 136 (1) The majority of the Company's time deposits are international deposits, which mature within one year. (2) The Company's government securities mature within one year.
Schedule of Cash, Restricted Cash and Short-term Investments	The following tables summarize the Company's cash, cash equivalents, restricted cash and short-term investments as of December 31, 2024 and 2023: As of December 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents Short-term investments Other Current Assets Non-current Assets (in thousands) Cash $ 4,866,753 $ — $ — $ 4,866,753 $ 4,864,207 $ — $ 2,472 $ 74 Level 1 securities: Money market funds 2,676,314 — — 2,676,314 2,676,256 — — 58 Level 2 securities: Time Deposits (1) 301,374 — — 301,374 264,270 37,104 — — Government securities (2) 1,738,642 3,260 — 1,741,902 — 1,741,902 — — $ 9,583,083 $ 3,260 $ — $ 9,586,343 $ 7,804,733 $ 1,779,006 $ 2,472 $ 132 As of December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents Short-term investments Other Current Assets Non-current Assets (in thousands) Cash $ 5,988,176 $ — $ — $ 5,988,176 $ 5,986,629 $ — $ 1,466 $ 81 Level 1 securities: Money market funds 925,707 — — 925,707 925,652 — — 55 Level 2 securities: Time Deposits (1) 225,605 — — 225,605 204,632 20,973 — — $ 7,139,488 $ — $ — $ 7,139,488 $ 7,116,913 $ 20,973 $ 1,466 $ 136 (1) The majority of the Company's time deposits are international deposits, which mature within one year. (2) The Company's government securities mature within one year.

Balance Sheet Components (Table

Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Schedule off Content Assets	Content assets consisted of the following: As of December 31, 2024 2023 (in thousands) Licensed content, net $ 12,422,309 $ 12,722,701 Produced content, net Released, less amortization 10,151,543 9,843,150 In production 9,317,367 8,247,578 In development and pre-production 561,243 844,627 20,030,153 18,935,355 Content assets, net $ 32,452,462 $ 31,658,056
Schedule of Amortization of Streaming Content Assets	The following table summarizes the amortization of content assets: Year Ended December 31, 2024 2023 2022 (in thousands) Licensed content $ 7,689,014 $ 7,145,446 $ 7,681,978 Produced content (1) 7,612,503 7,051,991 6,344,154 Total $ 15,301,517 $ 14,197,437 $ 14,026,132 (1) Tax incentives earned on qualified production spend generally reduce the cost-basis of content assets and result in lower content amortization over the life of the title. For the years ended December 31, 2024, 2023 and 2022, tax incentives resulted in lower content amortization on produced content of approximately $899 million, $835 million and $719 million, respectively.
Schedule of Property and Equipment, Net	Property and equipment and accumulated depreciation consisted of the following: As of December 31, Estimated Useful Lives (in Years) 2024 2023 (in thousands) Land $ 85,000 $ 85,000 Buildings and improvements 475,684 154,165 30 years Leasehold improvements 1,026,593 1,032,492 Over life of lease Furniture and fixtures 134,987 144,737 3 years Information technology 446,419 414,092 3 years Corporate aircraft 99,175 99,175 8-10 years Machinery and equipment 15,135 10,334 3-5 years Capital work-in-progress 228,300 406,492 Property and equipment, gross 2,511,293 2,346,487 Less: Accumulated depreciation (917,537) (855,043) Property and equipment, net $ 1,593,756 $ 1,491,444
Schedule of Information on Right-of-Use Assets and Lease Liabilities	The components of lease costs for the years ended December 31, 2024, 2023 and 2022 were as follows: Year ended December 31, 2024 2023 2022 (in thousands) Operating lease cost $ 468,282 $ 430,856 $ 413,664 Short-term lease cost 197,691 207,822 194,764 Total lease cost $ 665,973 $ 638,678 $ 608,428 Information related to the Company's operating right-of-use assets and related operating lease liabilities were as follows: Year ended December 31, 2024 2023 2022 (in thousands) Cash paid for operating lease liabilities $ 509,296 $ 451,525 $ 413,034 Right-of-use assets obtained in exchange for new operating lease obligations 442,391 196,639 252,393 As of December 31, 2024 2023 (in thousands, except lease term and discount rate) Operating lease right-of-use assets, net $ 2,102,310 $ 2,076,899 Current operating lease liabilities $ 428,482 $ 383,312 Non-current operating lease liabilities 1,983,688 2,046,801 Total operating lease liabilities $ 2,412,170 $ 2,430,113 Weighted-average remaining lease term 6.9 years 7.5 years Weighted-average discount rate 3.5 % 3.3 %
Schedule of Maturities of Lease Liabilities	Maturities of operating lease liabilities as of December 31, 2024 were as follows (in thousands): Due in 12 month period ended December 31, 2025 $ 505,201 2026 477,256 2027 415,983 2028 345,912 2029 276,109 Thereafter 696,367 2,716,828 Less imputed interest (304,658) Total operating lease liabilities $ 2,412,170
Schedule of Other Current Assets	Other current assets consisted of the following: As of December 31, December 31, (in thousands) Trade receivables $ 1,335,304 $ 1,287,054 Prepaid expenses 431,924 408,936 Other (1) 1,749,412 1,084,257 Total other current assets $ 3,516,640 $ 2,780,247

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table provides a summary of the Company's outstanding debt and the fair values based on quoted market prices in less active markets as of December 31, 2024 and December 31, 2023: Principal Amount at Par Level 2 Fair Value as of December 31, December 31, Issuance Date Maturity December 31, December 31, (in millions) (in millions) 5.750% Senior Notes $ — $ 400 February 2014 March 2024 $ — $ 400 5.875% Senior Notes 800 800 February 2015 February 2025 801 807 3.000% Senior Notes (1) 487 519 April 2020 June 2025 487 516 3.625% Senior Notes 500 500 April 2020 June 2025 497 491 4.375% Senior Notes 1,000 1,000 October 2016 November 2026 998 996 3.625% Senior Notes (1) 1,346 1,434 May 2017 May 2027 1,375 1,454 4.875% Senior Notes 1,600 1,600 October 2017 April 2028 1,607 1,621 5.875% Senior Notes 1,900 1,900 April 2018 November 2028 1,970 2,009 4.625% Senior Notes (1) 1,139 1,215 October 2018 May 2029 1,220 1,300 6.375% Senior Notes 800 800 October 2018 May 2029 848 872 3.875% Senior Notes (1) 1,242 1,325 April 2019 November 2029 1,293 1,372 5.375% Senior Notes 900 900 April 2019 November 2029 918 931 3.625% Senior Notes (1) 1,139 1,215 October 2019 June 2030 1,174 1,237 4.875% Senior Notes 1,000 1,000 October 2019 June 2030 996 1,012 4.900% Senior Notes 1,000 — August 2024 August 2034 982 — 5.400% Senior Notes 800 — August 2024 August 2054 782 — $ 15,653 $ 14,608 $ 15,948 $ 15,018

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Foreign Currency Cash Flow Hedges	The net notional amounts of the Company’s outstanding derivative instruments were as follows: As of December 31, 2024 2023 (in thousands) Derivatives designated as hedging instruments: Foreign exchange contracts Cash flow hedges $ 18,508,390 $ 8,783,273 Fair value hedges 3,819,817 — Derivatives not designated as hedging instruments: Foreign exchange contracts 1,432,136 — Total $ 23,760,343 $ 8,783,273
Schedule of Fair Value of Derivative Contracts	The fair value of the Company’s outstanding derivative instruments was as follows: As of December 31, 2024 Derivative Assets Derivative Liabilities Other current assets Other non-current assets Accrued expenses and other liabilities Other non-current liabilities (in thousands) Derivatives designated as hedging instruments: Foreign exchange contracts $ 580,065 $ 406,677 $ 303,425 $ 83 Derivatives not designated as hedging instruments: Foreign exchange contracts 16,211 — 14,492 — Total $ 596,276 $ 406,677 $ 317,917 $ 83 As of December 31, 2023 Derivative Assets Derivative Liabilities Other current assets Other non-current assets Accrued expenses and other liabilities Other non-current liabilities (in thousands) Derivatives designated as hedging instruments: Foreign exchange contracts $ 26,416 $ 4,518 $ 140,089 $ 46,575 Derivatives not designated as hedging instruments: Foreign exchange contracts — — — — Total $ 26,416 $ 4,518 $ 140,089 $ 46,575
Schedule of Offsetting Derivative Assets and Liabilities	The potential offsetting effect to the Company’s derivative assets and liabilities under its master netting agreements and collateral security agreements were as follows: As of December 31, 2024 Gross Amount Not Offset in the Consolidated Balance Sheets Gross Amount Recognized in the Consolidated Balance Sheets Gross Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Financial Instruments Collateral Received and Posted Net Amount (in thousands) Derivative assets $ 1,002,953 $ — $ 1,002,953 $ (316,320) $ (1,800) $ 684,833 Derivative liabilities 318,000 — 318,000 (316,320) — $ 1,680 As of December 31, 2023 Gross Amount Not Offset in the Consolidated Balance Sheets Gross Amount Recognized in the Consolidated Balance Sheets Gross Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Financial Instruments Collateral Received and Posted Net Amount (in thousands) Derivative assets $ 30,934 $ — $ 30,934 $ (27,246) $ — $ 3,688 Derivative liabilities 186,664 — 186,664 (27,246) — 159,418
Schedule of Gains (Losses) on Cash Flow Hedges Recognized in AOCI	The pre-tax gains (losses) on the Company’s cash flow hedges, fair value hedges, and net investment hedges recognized in AOCI were as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Cash flow hedges: Foreign exchange contracts Amount included in the assessment of effectiveness $ 1,195,738 $ (155,730) $ — Fair value hedges: Foreign exchange contracts Amount excluded from the assessment of effectiveness (14,334) — — Net investment hedges: Foreign currency-denominated debt Amount included in the assessment of effectiveness 32,400 — — Total $ 1,213,804 $ (155,730) $ —
Schedule of Gains (Losses) on Hedged Items and Derivative Instruments Recognized in the Consolidated Statement of Operations	The gains (losses) on hedged items and derivative instruments recognized in the Consolidated Statement of Operations were as follows: Year Ended December 31, 2024 Revenues Cost of Revenues Interest and other income (expense) (in thousands) Total amounts presented in the Consolidated Statements of Operations $ 39,000,966 $ 21,038,464 $ 266,776 Gains on derivatives in cash flow hedging relationship Foreign exchange contracts Amount of gains reclassified from AOCI 124,010 1,629 — Gains (losses) on derivatives in fair value hedging relationship Foreign exchange contracts Hedged items — — 196,660 Derivatives designated as hedging instruments — — (201,239) Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach — — (23,567) Gains on derivatives not designated as hedging instruments Foreign exchange contracts — — 63,291

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Expected Timing of Payments for Streaming Content Obligations	The expected timing of payments for these content obligations is as follows: As of December 31, 2024 2023 (in thousands) Less than one year $ 11,424,696 $ 10,328,923 Due after one year and through three years 8,113,910 8,784,302 Due after three years and through five years 2,809,834 2,016,358 Due after five years 900,491 583,766 Total content obligations $ 23,248,931 $ 21,713,349

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of Activity Related to Stock Option	The following table summarizes the activities related to the Company’s stock options: Options Outstanding Number of Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Balances as of December 31, 2021 17,595,851 $ 219.83 Granted 3,691,257 267.94 Exercised (1,383,669) 27.19 Expired (6,578) 11.10 Balances as of December 31, 2022 19,896,861 $ 242.22 Granted 1,729,218 372.49 Exercised (1,926,598) 87.30 Expired (4,372) 36.39 Balances as of December 31, 2023 19,695,109 $ 268.86 Granted 575,856 620.92 Exercised (4,846,048) 172.17 Expired (5,915) 56.05 Balances as of December 31, 2024 15,419,002 $ 312.48 5.16 $ 8,925,315 Vested and expected to vest as of December 31, 2024 15,419,002 $ 312.48 5.16 $ 8,925,315 Exercisable as of December 31, 2024 15,401,292 $ 312.30 5.16 $ 8,917,827
Schedule of Amounts Related to Option Exercises	A summary of the amounts related to option exercises, is as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Total intrinsic value of options exercised $ 2,352,829 $ 610,594 $ 345,839 Cash received from options exercised 832,887 169,990 35,746
Schedule of Unvested Restricted Stock Units	The following table summarizes the activities related to the Company’s unvested RSUs and PSUs: Unvested Restricted Stock Units Number of Weighted- Balances as of December 31, 2023 — $ — Granted (1) 159,978 686.36 Vested (1) (26,660) 562.00 Forfeited — — Balances as of December 31, 2024 133,318 $ 711.23 (1) Amounts exclude 26,660 incremental PSU awards that will be granted and 53,320 incremental PSU awards that will vest based on the achievement of market-based performance targets during the period presented, but have not been settled as of December 31, 2024.
Schedule of Stock-Based Compensation Expense	The following table summarizes total stock-based compensation expense and the related income tax impact: Year Ended December 31, 2024 2023 2022 (in thousands) Total stock-based compensation expense $ 272,588 $ 339,368 $ 575,452 Total income tax impact on provision 43,876 61,588 127,289
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated balances of other comprehensive income (loss): Foreign Currency Translation Net Investment Hedge Gains (Losses) Change in Unrealized Gains (Losses) on Cash Flow Hedges Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges Change in Unrealized Gains (Losses) Tax (Expense) Benefit Total (in thousands) Balances as of December 31, 2021 $ (40,495) $ — $ — $ — $ — $ — $ (40,495) Other comprehensive income (loss) before reclassifications (176,811) — — — — — (176,811) Amounts reclassified from accumulated other comprehensive income (loss) — — — — — — — Net change in accumulated other comprehensive income (loss) (176,811) — — — — — (176,811) Balances as of December 31, 2022 (217,306) — — — — — (217,306) Other comprehensive income (loss) before reclassifications 113,384 — (155,730) — — 35,707 (6,639) Amounts reclassified from accumulated other comprehensive income (loss) — — — — — — — Net change in accumulated other comprehensive income (loss) 113,384 — (155,730) — — 35,707 (6,639) Balances as of December 31, 2023 (103,922) — (155,730) — — 35,707 (223,945) Other comprehensive income (loss) before reclassifications (272,911) 32,400 1,195,738 (14,334) 3,260 (279,408) 664,745 Amounts reclassified from accumulated other comprehensive income (loss) — — (125,639) 23,567 — 23,434 (78,638) Net change in accumulated other comprehensive income (loss) (272,911) 32,400 1,070,099 9,233 3,260 (255,974) 586,107 Balances as of December 31, 2024 $ (376,833) $ 32,400 $ 914,369 $ 9,233 $ 3,260 $ (220,267) $ 362,162 The following table summarizes the amounts reclassified from AOCI to the Consolidated Statement of Operations: Year Ended December 31, 2024 Revenues Cost of Revenues Interest and other income (expense) Provision for Income Taxes Total Reclassifications (in thousands) Gains (losses) on derivatives in cash flow hedging relationship Foreign exchange contracts Amount of gains (losses) reclassified from AOCI $ 124,010 $ 1,629 $ — $ (28,844) $ 96,795 Gains (losses) on derivatives in fair value hedging relationship Foreign exchange contracts Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach — — (23,567) 5,410 (18,157) Total $ 124,010 $ 1,629 $ (23,567) $ (23,434) $ 78,638 No amounts were reclassified from AOCI into the Consolidated Statements of Operations in the years ended December 31, 2023 and 2022.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income before Income Taxes	Income before provision for income taxes was as follows: Year Ended December 31, 2024 2023 2022 (in thousands) United States $ 9,101,391 $ 5,602,762 $ 4,623,218 Foreign 864,266 602,643 640,711 Income before income taxes $ 9,965,657 $ 6,205,405 $ 5,263,929
Schedule of Components of Provision for Income Taxes	The components of provision for income taxes for all periods presented were as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Current tax provision: Federal $ 1,093,667 $ 854,170 $ 109,910 State 214,814 181,684 119,795 Foreign 536,915 304,539 676,827 Total current 1,845,396 1,340,393 906,532 Deferred tax provision: Federal (520,510) (412,760) (52,434) State (41,700) (55,475) (30,691) Foreign (29,160) (74,743) (51,402) Total deferred (591,370) (542,978) (134,527) Provision for income taxes $ 1,254,026 $ 797,415 $ 772,005
Schedule of Reconciliation of Provision for Income Taxes	A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory Federal income tax rate to income before income taxes is as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Expected tax expense at U.S. Federal statutory tax rate $ 2,092,710 $ 1,303,123 $ 1,105,428 State income taxes, net of Federal income tax effect 166,311 104,717 92,084 Foreign earnings at other than U.S. rates 13,909 (32,292) 104,665 Research and development tax credit (185,312) (87,036) (146,615) Excess tax benefits on stock-based compensation (435,909) (119,043) (75,211) Foreign-derived intangible income deduction (502,968) (426,597) (361,013) Nontaxable and nondeductible items 70,386 41,782 44,046 Other 34,899 12,761 8,621 Provision for income taxes $ 1,254,026 $ 797,415 $ 772,005 Effective Tax Rate 13 % 13 % 15 %
Schedule of Deferred Tax Assets and Liabilities	The components of deferred tax assets and liabilities were as follows: As of December 31, 2024 2023 (in thousands) Deferred tax assets: Stock-based compensation $ 440,889 $ 486,876 Tax credits and net operating loss carryforwards 834,402 544,431 Capitalized research expenses 1,075,474 593,439 Accruals and reserves 152,142 137,251 Operating lease liabilities 522,489 516,574 OCI hedging losses — 35,707 Unrealized losses 12,157 26,506 Other 18,197 11,615 Total deferred tax assets 3,055,750 2,352,399 Valuation allowance (540,272) (442,293) Net deferred tax assets 2,515,478 1,910,106 Deferred tax liabilities: Depreciation & amortization (370,709) (357,477) Operating right-of-use lease assets (449,661) (435,216) OCI hedging gains (220,009) — Acquired intangibles (282,187) (233,433) Other (15,354) (9,430) Total deferred tax liabilities (1,337,920) (1,035,556) Net deferred tax assets $ 1,177,558 $ 874,550 The following table shows the deferred tax assets and liabilities within our Consolidated Balance Sheets: As of December 31, 2024 2023 (in thousands) Total deferred tax assets: Other non-current assets $ 1,290,160 $ 1,000,760 Total deferred tax liabilities: Other non-current liabilities (112,602) (126,210) Net deferred tax assets $ 1,177,558 $ 874,550
Schedule of Changes in Unrecognized Tax Benefits	The aggregate changes in the Company’s total gross amount of unrecognized tax benefits are summarized as follows: As of December 31, 2024 2023 2022 (in thousands) Balance at the beginning of the year $ 327,105 $ 226,977 $ 202,557 Increases related to tax positions taken during the current period 93,325 65,630 26,865 Increases related to tax positions taken during prior periods 15,751 76,794 — Decreases related to tax positions taken during prior periods (3,901) (10,117) (2,445) Decreases related to settlements with taxing authorities — (32,179) — Decreases related to expiration of statute of limitations — — — Balance at the end of the year $ 432,280 $ 327,105 $ 226,977

Employee Benefit Plan (Tables)

Employee Benefit Plan (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Company Contributions to Pension and Health Plans	The following table summarizes the Company's contributions to multiemployer pension and health plans for the years ended December 31, 2024, 2023 and 2022, respectively: Year Ended December 31, 2024 2023 2022 (in thousands) Pension benefits $ 89,707 $ 57,285 $ 127,885 Health benefits 134,079 85,157 96,285 Total contributions $ 223,786 $ 142,442 $ 224,170

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Financial Information, by Segment	The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands) Revenues $ 39,000,966 $ 33,723,297 $ 31,615,550 Less: Content amortization 15,301,517 14,197,437 14,026,132 Other cost of revenues 5,736,947 5,517,931 5,142,153 Sales and marketing 2,917,554 2,657,883 2,530,502 Technology and development 2,925,295 2,675,758 2,711,041 General and administrative 1,702,039 1,720,285 1,572,891 Operating income 10,417,614 6,954,003 5,632,831 Operating margin 27 % 21 % 18 % Other income (expense) Interest expense (718,733) (699,826) (706,212) Interest and other income (expense) (1) 266,776 (48,772) 337,310 Income before income taxes 9,965,657 6,205,405 5,263,929 Provision for income taxes (1,254,026) (797,415) (772,005) Net income $ 8,711,631 $ 5,407,990 $ 4,491,924 (1) Includes interest income of $294 million, $281 million and $60 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Schedule of Long-lived Assets by Geographic Areas	The Company's long-lived tangible assets, as well as the Company's operating lease right-of-use assets recognized on the Consolidated Balance Sheets were located as follows: As of December 31, 2024 2023 (in thousands) United States $ 2,769,828 $ 2,724,710 International 926,238 843,633

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details) $ in Thousands, membership in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) country membership	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of streaming members (over) | membership	302
Number of countries (over) | country	190
Content assets amortization period cap	10 years
Average produced content asset amortization percentage (over)	90%
Average produced content asset amortization period	4 years
Advertising expense	$ 1,779,000	$ 1,732,000	$ 1,586,000
Foreign currency remeasurement (loss) gain on debt	$ 121,539	(176,296)	353,111
Cash flow hedges | Derivatives designated as hedging instruments:
Organization And Summary Of Significant Accounting Policies [Line Items]
Derivative, term of contract	36 months
Interest and Other Income (Expense)
Organization And Summary Of Significant Accounting Policies [Line Items]
Foreign currency remeasurement (loss) gain on debt	$ (18,000)	$ (293,000)	$ 282,000
Maximum
Organization And Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated useful life (in years)	30 years

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Hedging gains	$ 124,000	$ 0	$ 0
Deferred revenue	$ 1,520,813	1,442,969
Increase in deferred revenue		$ 78,000

Revenue Recognition - Revenue a

Revenue Recognition - Revenue and Membership Information (Details) membership in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) membership	Dec. 31, 2023 USD ($) membership	Dec. 31, 2022 USD ($) membership
Disaggregation of Revenue [Line Items]
Streaming revenues | $	$ 39,000,966	$ 33,723,297	$ 31,615,550
Streaming | United States and Canada
Disaggregation of Revenue [Line Items]
Streaming revenues | $	$ 17,359,369	$ 14,873,783	$ 14,084,643
Paid net membership additions (in memberships)	9,497	5,832	(919)
Paid memberships at end of period (in memberships)	89,625	80,128	74,296
Streaming | Europe, Middle East, and Africa
Disaggregation of Revenue [Line Items]
Streaming revenues | $	$ 12,387,035	$ 10,556,487	$ 9,745,015
Paid net membership additions (in memberships)	12,320	12,084	2,693
Paid memberships at end of period (in memberships)	101,133	88,813	76,729
Streaming | Latin America
Disaggregation of Revenue [Line Items]
Streaming revenues | $	$ 4,839,816	$ 4,446,461	$ 4,069,973
Paid net membership additions (in memberships)	7,330	4,298	1,738
Paid memberships at end of period (in memberships)	53,327	45,997	41,699
Streaming | Asia-Pacific
Disaggregation of Revenue [Line Items]
Streaming revenues | $	$ 4,414,746	$ 3,763,727	$ 3,570,221
Paid net membership additions (in memberships)	12,203	7,315	5,391
Paid memberships at end of period (in memberships)	57,541	45,338	38,023

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Basic earnings per share:
Net income	$ 8,711,631	$ 5,407,990	$ 4,491,924
Weighted-average common shares outstanding (in shares)	429,519	441,571	444,698
Basic earnings per share (in USD per share)	$ 20.28	$ 12.25	$ 10.10
Diluted earnings per share:
Net income	$ 8,711,631	$ 5,407,990	$ 4,491,924
Shares used in computation:
Weighted-average common shares outstanding (in shares)	429,519	441,571	444,698
Effect of dilutive stock-based awards (in shares)	9,742	7,927	6,592
Weighted-average number of shares (in shares)	439,261	449,498	451,290
Diluted earnings per share (in USD per share)	$ 19.83	$ 12.03	$ 9.95

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Shares (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from earnings per share calculations (in shares)	243	4,109	6,790

Cash, Cash Equivalents, Restr_3

Cash, Cash Equivalents, Restricted Cash, and Short-term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 9,583,083	$ 7,139,488
Gross Unrealized Gains	3,260	0
Gross Unrealized Losses	0	0
Estimated Fair Value	9,586,343	7,139,488
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	7,804,733	7,116,913
Short-term investments
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	1,779,006	20,973
Other Current Assets
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	2,472	1,466
Non-current Assets
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	132	136
Cash
Cash and Cash Equivalents [Line Items]
Amortized Cost	4,866,753	5,988,176
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	4,866,753	5,988,176
Cash | Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	4,864,207	5,986,629
Cash | Short-term investments
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	0	0
Cash | Other Current Assets
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	2,472	1,466
Cash | Non-current Assets
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	74	81
Money market funds | Level 1 securities:
Cash and Cash Equivalents [Line Items]
Amortized Cost	2,676,314	925,707
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	2,676,314	925,707
Money market funds | Cash and cash equivalents | Level 1 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	2,676,256	925,652
Money market funds | Short-term investments | Level 1 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	0	0
Money market funds | Other Current Assets | Level 1 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	0	0
Money market funds | Non-current Assets | Level 1 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	58	55
Time Deposits | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Amortized Cost	301,374	225,605
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	301,374	225,605
Time Deposits | Cash and cash equivalents | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	264,270	204,632
Time Deposits | Short-term investments | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	37,104	20,973
Time Deposits | Other Current Assets | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	0	0
Time Deposits | Non-current Assets | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	0	$ 0
Government securities | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Amortized Cost	1,738,642
Gross Unrealized Gains	3,260
Gross Unrealized Losses	0
Estimated Fair Value	1,741,902
Government securities | Cash and cash equivalents | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	0
Government securities | Short-term investments | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	1,741,902
Government securities | Other Current Assets | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	0
Government securities | Non-current Assets | Level 2 securities:
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, and short-term investments	$ 0

Balance Sheet Components - Comp

Balance Sheet Components - Components of Content Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Content assets, net	$ 32,452,462	$ 31,658,056
Amortization of content assets	15,301,517	14,197,437	$ 14,026,132
Tax incentives resulting in lower content amortization	899,000	835,000	719,000
Licensed content, net
Finite-Lived Intangible Assets [Line Items]
Net content	12,422,309	12,722,701
Unamortized cost in year one	6,409,000
Unamortized cost in year two	2,465,000
Unamortized cost in year three	1,431,000
Amortization of content assets	7,689,014	7,145,446	7,681,978
Produced content, net
Finite-Lived Intangible Assets [Line Items]
Net content	10,151,543	9,843,150
In production	9,317,367	8,247,578
In development and pre-production	561,243	844,627
Content assets, net	20,030,153	18,935,355
Unamortized cost in year one	3,954,000
Unamortized cost in year two	2,767,000
Unamortized cost in year three	1,718,000
Amortization of content assets	$ 7,612,503	$ 7,051,991	$ 6,344,154

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment and Accumulated Depreciation (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,511,293	$ 2,346,487
Less: Accumulated depreciation	(917,537)	(855,043)
Property and equipment, net	$ 1,593,756	1,491,444
Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	30 years
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 85,000	85,000
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 475,684	154,165
Estimated Useful Lives (in Years)	30 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,026,593	1,032,492
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 134,987	144,737
Estimated Useful Lives (in Years)	3 years
Information technology
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 446,419	414,092
Estimated Useful Lives (in Years)	3 years
Corporate aircraft
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 99,175	99,175
Corporate aircraft | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	8 years
Corporate aircraft | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	10 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 15,135	10,334
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	5 years
Capital work-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 228,300	$ 406,492

Balance Sheet Components - Leas

Balance Sheet Components - Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) option	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Number of renewal options (or more) | option	1
Lease Cost:
Operating lease cost	$ 468,282	$ 430,856	$ 413,664
Short-term lease cost	197,691	207,822	194,764
Total lease cost	665,973	638,678	608,428
Cash paid for operating lease liabilities	509,296	451,525	413,034
Right-of-use assets obtained in exchange for new operating lease obligations	442,391	196,639	$ 252,393
Operating lease right-of-use assets, net	2,102,310	2,076,899
Current operating lease liabilities	428,482	383,312
Non-current operating lease liabilities	1,983,688	2,046,801
Total operating lease liabilities	$ 2,412,170	$ 2,430,113
Weighted-average remaining lease term	6 years 10 months 24 days	7 years 6 months
Weighted-average discount rate	3.50%	3.30%
Operating lease, liability, leases not commenced	$ 38,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other non-current liabilities	Other non-current liabilities
Minimum
Lessee, Lease, Description [Line Items]
Lease term of contract (in years)	1 year
Lease renewal term (in years)	1 year
Lease Cost:
Lease not yet commenced, term of contract (in years)	3 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term of contract (in years)	15 years
Lease renewal term (in years)	20 years
Lease Cost:
Lease not yet commenced, term of contract (in years)	7 years

Balance Sheet Components - Le_2

Balance Sheet Components - Lease Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
2025	$ 505,201
2026	477,256
2027	415,983
2028	345,912
2029	276,109
Thereafter	696,367
Total lease liabilities	2,716,828
Less imputed interest	(304,658)
Total operating lease liabilities	$ 2,412,170	$ 2,430,113

Balance Sheet Components - Othe

Balance Sheet Components - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Trade receivables	$ 1,335,304	$ 1,287,054
Prepaid expenses	431,924	408,936
Other	1,749,412	1,084,257
Total other current assets	3,516,640	2,780,247
Tax incentives	$ 653,000	$ 555,000

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 EUR (€)
Debt Instrument [Line Items]
Aggregate outstanding notes	$ 15,583,000	$ 14,543,000
Debt issuance costs	70,000	65,000
Short-term debt	1,784,453	399,844
Long-term notes denominated in foreign currency	15,653,000	14,608,000
Foreign currency remeasurement (loss) gain on debt	121,539	(176,296)	$ 353,111
Repayments of debt	400,000	0	$ 700,000
Senior Notes
Debt Instrument [Line Items]
Long-term notes denominated in foreign currency | €				€ 5,170,000,000
Foreign currency remeasurement (loss) gain on debt	$ 122,000
Redemption price, percent of outstanding principal	101%
Senior Notes | 5.750% Senior Notes
Debt Instrument [Line Items]
Long-term notes denominated in foreign currency	$ 0	$ 400,000
Repayments of debt	$ 400,000
Interest rate	5.75%	5.75%		5.75%

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) $ in Millions	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Face amount		$ 15,653		$ 14,608
Long-term debt, fair value		$ 15,948		$ 15,018
Senior Notes
Debt Instrument [Line Items]
Face amount | €	€ 5,170,000,000
Senior Notes | 5.750% Senior Notes
Debt Instrument [Line Items]
Interest rate	5.75%	5.75%	5.75%	5.75%
Face amount		$ 0		$ 400
Long-term debt, fair value		$ 0		$ 400
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Interest rate	5.875%	5.875%	5.875%	5.875%
Face amount		$ 800		$ 800
Long-term debt, fair value		$ 801		$ 807
Senior Notes | 3.000% Senior Notes
Debt Instrument [Line Items]
Interest rate	3%	3%	3%	3%
Face amount	€ 470,000,000	$ 487	€ 470,000,000	$ 519
Long-term debt, fair value		$ 487		$ 516
Senior Notes | 3.625% Senior Notes
Debt Instrument [Line Items]
Interest rate	3.625%	3.625%	3.625%	3.625%
Face amount		$ 500		$ 500
Long-term debt, fair value		$ 497		$ 491
Senior Notes | 4.375% Senior Notes
Debt Instrument [Line Items]
Interest rate	4.375%	4.375%	4.375%	4.375%
Face amount		$ 1,000		$ 1,000
Long-term debt, fair value		$ 998		$ 996
Senior Notes | 3.625% Senior Notes
Debt Instrument [Line Items]
Interest rate	3.625%	3.625%	3.625%	3.625%
Face amount	€ 1,300,000,000	$ 1,346	€ 1,300,000,000	$ 1,434
Long-term debt, fair value		$ 1,375		$ 1,454
Senior Notes | 4.875% Senior Notes
Debt Instrument [Line Items]
Interest rate	4.875%	4.875%	4.875%	4.875%
Face amount		$ 1,600		$ 1,600
Long-term debt, fair value		$ 1,607		$ 1,621
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Interest rate	5.875%	5.875%	5.875%	5.875%
Face amount		$ 1,900		$ 1,900
Long-term debt, fair value		$ 1,970		$ 2,009
Senior Notes | 4.625% Senior Notes
Debt Instrument [Line Items]
Interest rate	4.625%	4.625%	4.625%	4.625%
Face amount	€ 1,100,000,000	$ 1,139	€ 1,100,000,000	$ 1,215
Long-term debt, fair value		$ 1,220		$ 1,300
Senior Notes | 6.375% Senior Notes
Debt Instrument [Line Items]
Interest rate	6.375%	6.375%	6.375%	6.375%
Face amount		$ 800		$ 800
Long-term debt, fair value		$ 848		$ 872
Senior Notes | 3.875% Senior Notes
Debt Instrument [Line Items]
Interest rate	3.875%	3.875%	3.875%	3.875%
Face amount	€ 1,200,000,000	$ 1,242	€ 1,200,000,000	$ 1,325
Long-term debt, fair value		$ 1,293		$ 1,372
Senior Notes | 5.375% Senior Notes
Debt Instrument [Line Items]
Interest rate	5.375%	5.375%	5.375%	5.375%
Face amount		$ 900		$ 900
Long-term debt, fair value		$ 918		$ 931
Senior Notes | 3.625% Senior Notes
Debt Instrument [Line Items]
Interest rate	3.625%	3.625%	3.625%	3.625%
Face amount	€ 1,100,000,000	$ 1,139	€ 1,100,000,000	$ 1,215
Long-term debt, fair value		$ 1,174		$ 1,237
Senior Notes | 4.875% Senior Notes
Debt Instrument [Line Items]
Interest rate	4.875%	4.875%	4.875%	4.875%
Face amount		$ 1,000		$ 1,000
Long-term debt, fair value		$ 996		$ 1,012
Senior Notes | 4.900% Senior Notes
Debt Instrument [Line Items]
Interest rate	4.90%	4.90%	4.90%	4.90%
Face amount		$ 1,000		$ 0
Long-term debt, fair value		$ 982		$ 0
Senior Notes | 5.400% Senior Notes
Debt Instrument [Line Items]
Interest rate	5.40%	5.40%	5.40%	5.40%
Face amount		$ 800		$ 0
Long-term debt, fair value		$ 782		$ 0

Debt - Revolving Line of Credit

Debt - Revolving Line of Credit (Details) - Revolving Credit Facility - USD ($)		12 Months Ended
	Apr. 12, 2024	Dec. 31, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Amount borrowed		$ 0
Unsecured Debt
Line of Credit Facility [Line Items]
Line of credit, agreement term	5 years
Line of credit facility, maximum borrowing capacity	$ 3,000,000,000		$ 1,000,000,000
Debt instrument, consolidated EBITDA to consolidated interest expense	3
Unsecured Debt | Minimum | Alternate Base Rate
Line of Credit Facility [Line Items]
Applicable margin on variable rate	0%
Unsecured Debt | Minimum | SOFR
Line of Credit Facility [Line Items]
Applicable margin on variable rate	0.75%
Unsecured Debt | Maximum | Alternate Base Rate
Line of Credit Facility [Line Items]
Applicable margin on variable rate	0.25%
Unsecured Debt | Maximum | SOFR
Line of Credit Facility [Line Items]
Applicable margin on variable rate	1.25%

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Notional Amount of Derivative Contracts (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ 23,760,343	$ 8,783,273
Foreign exchange contracts | Derivatives not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	1,432,136	0
Foreign exchange contracts | Cash flow hedges | Derivatives designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	18,508,390	8,783,273
Foreign exchange contracts | Fair value hedges | Derivatives designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ 3,819,817	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Narrative (Details) $ in Millions, € in Billions	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain on foreign currency cash flow hedges included in AOCI expected to be reclassified to earnings within the next 12 months		$ 564
Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Long-term debt designated as a hedge, foreign exchange risk, fair value | €	€ 1		€ 0
Long-term debt designated as a hedge, fair value		$ 3,600		$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Fair Value of Derivative Contracts (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	$ 1,002,953	$ 30,934
Derivative Liabilities	318,000	186,664
Other current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	596,276	26,416
Other current assets | Foreign exchange contracts | Derivatives designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	580,065	26,416
Other current assets | Foreign exchange contracts | Derivatives not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	16,211	0
Other non-current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	406,677	4,518
Other non-current assets | Foreign exchange contracts | Derivatives designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	406,677	4,518
Other non-current assets | Foreign exchange contracts | Derivatives not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	0	0
Accrued expenses and other liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	317,917	140,089
Accrued expenses and other liabilities | Foreign exchange contracts | Derivatives designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	303,425	140,089
Accrued expenses and other liabilities | Foreign exchange contracts | Derivatives not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	14,492	0
Other non-current liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	83	46,575
Other non-current liabilities | Foreign exchange contracts | Derivatives designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	83	46,575
Other non-current liabilities | Foreign exchange contracts | Derivatives not designated as hedging instruments:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	$ 0	$ 0

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging Activities - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative assets
Gross Amount Recognized in the Consolidated Balance Sheets	$ 1,002,953	$ 30,934
Gross Amount Offset in the Consolidated Balance Sheets	0	0
Net Amount Presented in the Consolidated Balance Sheets	1,002,953	30,934
Financial Instruments	(316,320)	(27,246)
Collateral Received and Posted	(1,800)	0
Net Amount	$ 684,833	$ 3,688
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Derivative assets	Derivative assets
Derivative liabilities
Gross Amount Recognized in the Consolidated Balance Sheets	$ 318,000	$ 186,664
Gross Amount Offset in the Consolidated Balance Sheets	0	0
Net Amount Presented in the Consolidated Balance Sheets	318,000	186,664
Financial Instruments	(316,320)	(27,246)
Collateral Received and Posted	0	0
Net Amount	$ 1,680	$ 159,418
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Derivative liabilities	Derivative liabilities

Derivative Financial Instrume_7

Derivative Financial Instruments and Hedging Activities - Effect of Derivative Instruments on Consolidated Financial Statements (Details) - Foreign exchange contracts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ 1,213,804	$ (155,730)	$ 0
Cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount included in the assessment of effectiveness	1,195,738	(155,730)	0
Fair value hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount excluded from the assessment of effectiveness	(14,334)	0	0
Net investment hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency-denominated debt	$ 32,400	$ 0	$ 0

Derivative Financial Instrume_8

Derivative Financial Instruments and Hedging Activities - Gains (Losses) on Hedged Items and Derivative Instruments Recognized in the Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total amounts presented in the Consolidated Statements of Operations	$ 39,000,966	$ 33,723,297	$ 31,615,550
Total amounts presented in the Consolidated Statements of Operations	21,038,464	19,715,368	19,168,285
Total amounts presented in the Consolidated Statements of Operations	266,776	(48,772)	337,310
Amount of gains reclassified from AOCI	124,000	$ 0	$ 0
Foreign exchange contracts | Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gains reclassified from AOCI	124,010
Hedged items	0
Derivatives designated as hedging instruments	0
Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach	0
Gains on derivatives not designated as hedging instruments	0
Foreign exchange contracts | Cost of Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gains reclassified from AOCI	1,629
Hedged items	0
Derivatives designated as hedging instruments	0
Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach	0
Gains on derivatives not designated as hedging instruments	0
Foreign exchange contracts | Interest and other income (expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gains reclassified from AOCI	0
Hedged items	196,660
Derivatives designated as hedging instruments	(201,239)
Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach	(23,567)
Gains on derivatives not designated as hedging instruments	$ 63,291

Commitments and Contingencies -

Commitments and Contingencies - Streaming Content (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Contractual Obligation [Line Items]
Total streaming content obligations	$ 23,248,931	$ 21,713,349
Current content liabilities	4,393,681	4,466,470
Non-current content liabilities	1,780,806	2,578,173
Unrecorded streaming obligations	17,000,000	14,600,000
Non-income Tax Assessments | Brazilian Tax Authorities
Contractual Obligation [Line Items]
Indemnification guarantee accrual	400,000
Current Content Liabilities
Contractual Obligation [Line Items]
Current content liabilities	4,400,000	4,500,000
Non-current Content Liabilities
Contractual Obligation [Line Items]
Non-current content liabilities	$ 1,800,000	$ 2,600,000

Commitments and Contingencies_2

Commitments and Contingencies - Expected Timing of Payments for Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Less than one year	$ 11,424,696	$ 10,328,923
Due after one year and through three years	8,113,910	8,784,302
Due after three years and through five years	2,809,834	2,016,358
Due after five years	900,491	583,766
Total content obligations	$ 23,248,931	$ 21,713,349

Commitments and Contingencies_3

Commitments and Contingencies - Guarantees—Indemnification Obligations (Details)	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Other commitment	$ 0

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) vote	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of voting rights per share | vote	1
Fair value of stock options that vested	$ 242	$ 311
Total unrecognized compensation cost related to nonvested stock options	$ 46
Unrecognized compensation, weighted-average recognition period	1 year 4 months 24 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Fair value of awards vested during the period	$ 15	$ 0	$ 0
PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Activity Related to Stock Option (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, number of shares, beginning balance (in shares)	19,695,109	19,896,861	17,595,851
Options outstanding, number of shares granted (in shares)	575,856	1,729,218	3,691,257
Options outstanding, number of shares, exercised (in shares)	(4,846,048)	(1,926,598)	(1,383,669)
Options outstanding, number of shares expired (in shares)	(5,915)	(4,372)	(6,578)
Options outstanding, number of shares, ending balance (in shares)	15,419,002	19,695,109	19,896,861
Options outstanding, number of shares, vested and expected to vest (in shares)	15,419,002
Options outstanding, number of shares, exercisable (in shares)	15,401,292
Weighted- Average Exercise Price (per share)
Options outstanding, weighted-average exercise price, beginning balance (in USD per share)	$ 268.86	$ 242.22	$ 219.83
Options outstanding, weighted-average exercise price, granted (in USD per share)	620.92	372.49	267.94
Options outstanding, weighted-average exercise price, exercised (in USD per share)	172.17	87.30	27.19
Options expired, weighted-average exercise price (in USD per share)	56.05	36.39	11.10
Options outstanding, weighted-average exercise price, ending balance (in USD per share)	312.48	$ 268.86	$ 242.22
Options outstanding, weighted-average exercise price, vested and expected to vest (in USD per share)	312.48
Options outstanding, weighted-average exercise price, vested and exercisable (in USD per share)	$ 312.30
Weighted- Average Remaining Contractual Term (in years)
Weighted-average remaining contractual term (in years)	5 years 1 month 28 days
Weighted-average exercise price, vested and exercisable, vested and expected to vest	5 years 1 month 28 days
Weighted-average remaining contractual term, exercisable	5 years 1 month 28 days
Aggregate Intrinsic Value (in thousands)
Aggregate intrinsic value	$ 8,925,315
Aggregate intrinsic value, vested and expected to vest	8,925,315
Aggregate intrinsic value, exercisable	$ 8,917,827

Stockholders' Equity - Amounts

Stockholders' Equity - Amounts Related to Option Exercises (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Total intrinsic value of options exercised	$ 2,352,829	$ 610,594	$ 345,839
Cash received from options exercised	$ 832,887	$ 169,990	$ 35,746

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Activity Related to Unvested RSUs and PSUs (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
RSUs
Number of Shares
Non-options outstanding, number of shares, beginning balance (in shares)	0
Non-options outstanding, number of shares, granted (in shares)	159,978
Non-options outstanding, number of shares, vested (in shares)	26,660
Non-options outstanding, number of shares forfeited (in shares)	0
Non-options outstanding, number of shares, ending balance (in shares)	133,318
Weighted- Average Grant-Date Fair Value (per share)
Non-options outstanding, weighted-average exercise price, beginning balance (in USD per share) | $ / shares	$ 0
Non-options outstanding, weighted-average, granted (in USD per share) | $ / shares	686.36
Non-options outstanding, weighted-average, vested (in USD per share) | $ / shares	562
Non-options outstanding, weighted-average, forfeited (in USD per share) | $ / shares	0
Non-options outstanding, weighted-average exercise price, ending balance (in USD per share) | $ / shares	$ 711.23
PSUs
Number of Shares
Non-options outstanding, number of shares, granted (in shares)	26,660
Non-options outstanding, number of shares, vested (in shares)	53,320

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Total stock-based compensation expense	$ 272,588	$ 339,368	$ 575,452
Total income tax impact on provision	$ 43,876	$ 61,588	$ 127,289

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Common stock authorized to be repurchased	$ 15,000,000,000	$ 10,000,000,000
Stock repurchased (in shares)	9,861,935
Repurchases of common stock, excluding excise tax	$ 6,211,000,000
Remaining authorized repurchase amount	$ 17,100,000,000

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 20,588,313	$ 20,777,401	$ 15,849,248
Other comprehensive income (loss) before reclassifications	664,745	(6,639)	(176,811)
Amounts reclassified from accumulated other comprehensive income (loss)	(78,638)	0	0
Total other comprehensive income (loss)	586,107	(6,639)	(176,811)
Ending balance	24,743,567	20,588,313	20,777,401
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(103,922)	(217,306)	(40,495)
Other comprehensive income (loss) before reclassifications	(272,911)	113,384	(176,811)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0
Total other comprehensive income (loss)	(272,911)	113,384	(176,811)
Ending balance	(376,833)	(103,922)	(217,306)
Net Investment Hedge Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0	0
Other comprehensive income (loss) before reclassifications	32,400	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0
Total other comprehensive income (loss)	32,400	0	0
Ending balance	32,400	0	0
Amount of gains (losses) reclassified from AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(155,730)	0	0
Other comprehensive income (loss) before reclassifications	1,195,738	(155,730)	0
Amounts reclassified from accumulated other comprehensive income (loss)	(125,639)	0	0
Total other comprehensive income (loss)	1,070,099	(155,730)	0
Ending balance	914,369	(155,730)	0
Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0	0
Other comprehensive income (loss) before reclassifications	(14,334)	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	23,567	0	0
Total other comprehensive income (loss)	9,233	0	0
Ending balance	9,233	0	0
Change in Unrealized Gains (Losses) on AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0	0
Other comprehensive income (loss) before reclassifications	3,260	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0
Total other comprehensive income (loss)	3,260	0	0
Ending balance	3,260	0	0
Tax (Expense) Benefit
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	35,707	0	0
Other comprehensive income (loss) before reclassifications	(279,408)	35,707	0
Amounts reclassified from accumulated other comprehensive income (loss)	23,434	0	0
Total other comprehensive income (loss)	(255,974)	35,707	0
Ending balance	(220,267)	35,707	0
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(223,945)	(217,306)	(40,495)
Total other comprehensive income (loss)	586,107	(6,639)	(176,811)
Ending balance	$ 362,162	$ (223,945)	$ (217,306)

Stockholders' Equity Stockhol_2

Stockholders' Equity Stockholders' Equity - Summary of Amounts Reclassified from AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Revenues	$ 39,000,966	$ 33,723,297	$ 31,615,550
Cost of Revenues	(21,038,464)	(19,715,368)	(19,168,285)
Interest and other income (expense)	266,776	(48,772)	337,310
Provision for Income Taxes	(1,254,026)	(797,415)	(772,005)
Net income	8,711,631	5,407,990	4,491,924
Foreign exchange contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of gains (losses) reclassified from AOCI		$ 0	$ 0
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Revenues	124,010
Cost of Revenues	1,629
Interest and other income (expense)	(23,567)
Provision for Income Taxes	(23,434)
Net income	78,638
Reclassification out of Accumulated Other Comprehensive Income | Amount of gains (losses) reclassified from AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Revenues	124,010
Cost of Revenues	1,629
Interest and other income (expense)	0
Provision for Income Taxes	(28,844)
Net income	96,795
Reclassification out of Accumulated Other Comprehensive Income | Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach
Accumulated Other Comprehensive Income (Loss) [Line Items]
Revenues	0
Cost of Revenues	0
Interest and other income (expense)	(23,567)
Provision for Income Taxes	5,410
Net income	$ (18,157)

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ 9,101,391	$ 5,602,762	$ 4,623,218
Foreign	864,266	602,643	640,711
Income before income taxes	$ 9,965,657	$ 6,205,405	$ 5,263,929

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current tax provision:
Federal	$ 1,093,667	$ 854,170	$ 109,910
State	214,814	181,684	119,795
Foreign	536,915	304,539	676,827
Total current	1,845,396	1,340,393	906,532
Deferred tax provision:
Federal	(520,510)	(412,760)	(52,434)
State	(41,700)	(55,475)	(30,691)
Foreign	(29,160)	(74,743)	(51,402)
Total deferred	(591,370)	(542,978)	(134,527)
Provision for income taxes	$ 1,254,026	$ 797,415	$ 772,005

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Expected tax expense at U.S. Federal statutory tax rate	$ 2,092,710	$ 1,303,123	$ 1,105,428
State income taxes, net of Federal income tax effect	166,311	104,717	92,084
Foreign earnings at other than U.S. rates	13,909	(32,292)	104,665
Research and development tax credit	(185,312)	(87,036)	(146,615)
Excess tax benefits on stock-based compensation	(435,909)	(119,043)	(75,211)
Foreign-derived intangible income deduction	(502,968)	(426,597)	(361,013)
Nontaxable and nondeductible items	70,386	41,782	44,046
Other	34,899	12,761	8,621
Provision for income taxes	$ 1,254,026	$ 797,415	$ 772,005
Effective Tax Rate	13%	13%	15%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Stock-based compensation	$ 440,889	$ 486,876
Tax credits and net operating loss carryforwards	834,402	544,431
Capitalized research expenses	1,075,474	593,439
Accruals and reserves	152,142	137,251
Operating lease liabilities	522,489	516,574
OCI hedging losses	0	35,707
Unrealized losses	12,157	26,506
Other	18,197	11,615
Total deferred tax assets	3,055,750	2,352,399
Valuation allowance	(540,272)	(442,293)
Net deferred tax assets	2,515,478	1,910,106
Deferred tax liabilities:
Depreciation & amortization	(370,709)	(357,477)
Operating right-of-use lease assets	(449,661)	(435,216)
OCI hedging gains	(220,009)	0
Acquired intangibles	(282,187)	(233,433)
Other	(15,354)	(9,430)
Total deferred tax liabilities	(1,337,920)	(1,035,556)
Net deferred tax assets	$ 1,177,558	$ 874,550

Income Taxes - Deferred Tax A_2

Income Taxes - Deferred Tax Assets and Liabilities within our Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Total deferred tax assets:
Other non-current assets	$ 2,515,478	$ 1,910,106
Total deferred tax liabilities:
Other non-current liabilities	(1,337,920)	(1,035,556)
Net deferred tax assets	1,177,558	874,550
Non-current Assets
Total deferred tax assets:
Other non-current assets	1,290,160	1,000,760
Other non-current liabilities
Total deferred tax liabilities:
Other non-current liabilities	$ (112,602)	$ (126,210)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Tax credits and net operating loss carryforwards	$ 694,000
Operating loss carryforwards, state	943,000
Deferred tax assets, tax credit carryforwards, foreign	41,000
Deferred tax assets, operating loss carryforwards, foreign	420,000
Valuation allowance	540,272	$ 442,293
Unrecognized tax benefits	432,280	327,105	$ 226,977	$ 202,557
Reduction in provision for income taxes due to impact of effective tax rate	251,000	188,000
Interest and penalties in the provision for income taxes	16,000	25,000	$ 2,000
Interest and penalties accrued	$ 44,000	$ 28,000

Income Taxes - Schedule of Chan

Income Taxes - Schedule of Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Beginning Balance	$ 327,105	$ 226,977	$ 202,557
Increases related to tax positions taken during the current period	93,325	65,630	26,865
Increases related to tax positions taken during prior periods	15,751	76,794	0
Decreases related to tax positions taken during prior periods	(3,901)	(10,117)	(2,445)
Decreases related to settlements with taxing authorities	0	(32,179)	0
Decreases related to expiration of statute of limitations	0	0	0
Ending Balance	$ 432,280	$ 327,105	$ 226,977

Employee Benefit Plan - Narrati

Employee Benefit Plan - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Eligible employees maximum contribution percentage	80%
Contributions by employer	$ 128	$ 114	$ 102

Employee Benefit Plan - Multiem

Employee Benefit Plan - Multiemployer Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Multiemployer Plan [Line Items]
Total contributions	$ 223,786	$ 142,442	$ 224,170
Multiemployer Plan, Type [Extensible List]	Other Pension, Postretirement and Supplemental Plans [Member]
Pension benefits
Multiemployer Plan [Line Items]
Total contributions	$ 89,707	57,285	127,885
Health benefits
Multiemployer Plan [Line Items]
Total contributions	$ 134,079	$ 85,157	$ 96,285

Segment and Geographic Inform_3

Segment and Geographic Information - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of operating segments | segment	1
Revenues	$ 39,000,966	$ 33,723,297	$ 31,615,550
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 16,100,000	$ 13,800,000	$ 13,000,000

Segment and Geographic Inform_4

Segment and Geographic Information - Segment Reporting Financial Information, by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting [Abstract]
Revenues	$ 39,000,966	$ 33,723,297	$ 31,615,550
Amortization of content assets	15,301,517	14,197,437	14,026,132
Other cost of revenues	5,736,947	5,517,931	5,142,153
Sales and marketing	2,917,554	2,657,883	2,530,502
Technology and development	2,925,295	2,675,758	2,711,041
General and administrative	1,702,039	1,720,285	1,572,891
Operating income	$ 10,417,614	$ 6,954,003	$ 5,632,831
Operating margin (in percent)	27%	21%	18%
Other income (expense):
Interest expense	$ (718,733)	$ (699,826)	$ (706,212)
Interest and other income (expense)	266,776	(48,772)	337,310
Income before income taxes	9,965,657	6,205,405	5,263,929
Provision for income taxes	(1,254,026)	(797,415)	(772,005)
Net income	8,711,631	5,407,990	4,491,924
Interest income	$ 294,000	$ 281,000	$ 60,000

Segment and Geographic Inform_5

Segment and Geographic Information - Long-lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 2,769,828	$ 2,724,710
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 926,238	$ 843,633