Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Netflix Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash and cash equivalents	7,804,733)	7,116,913)	5,147,176)	6,027,804)	8,205,550)
Short-term investments	1,779,006)	20,973)	911,276)	—)	—)
Trade receivables	1,335,304)	1,287,054)	988,898)	804,320)	610,819)
Prepaid expenses	431,924)	408,936)	392,735)	323,818)	203,042)
Other	1,749,412)	1,084,257)	1,826,388)	913,883)	742,169)
Other current assets	3,516,640)	2,780,247)	3,208,021)	2,042,021)	1,556,030)
Current assets	13,100,379)	9,918,133)	9,266,473)	8,069,825)	9,761,580)
Licensed content, net	12,422,309)	12,722,701)	12,732,549)	13,799,221)	13,747,607)
Released, less amortization	10,151,543)	9,843,150)	9,110,518)	6,877,743)	5,809,681)
In production	9,317,367)	8,247,578)	10,255,940)	9,235,975)	4,827,455)
In development and pre-production	561,243)	844,627)	637,706)	1,006,600)	999,207)
Produced content, net	20,030,153)	18,935,355)	20,004,164)	17,120,318)	11,636,343)
Content assets, net	32,452,462)	31,658,056)	32,736,713)	30,919,539)	25,383,950)
Property and equipment, net	1,593,756)	1,491,444)	1,398,257)	1,323,453)	960,183)
Other non-current assets	6,483,777)	5,664,359)	5,193,325)	4,271,846)	3,174,646)
Non-current assets	40,529,995)	38,813,859)	39,328,295)	36,514,838)	29,518,779)
Total assets	53,630,374)	48,731,992)	48,594,768)	44,584,663)	39,280,359)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The financial data shows multiple trends in the asset composition and overall financial position over the five-year period.

Liquidity Position

Cash and cash equivalents declined from 2020 to 2022, falling from approximately 8.21 billion USD to 5.15 billion USD. Thereafter, cash rose again over 2023 and 2024, reaching about 7.8 billion USD. Short-term investments, which were not reported in the initial years, appeared in 2022 with a value of 911 million USD, dipped significantly in 2023, but sharply increased to nearly 1.78 billion USD in 2024.

Trade receivables consistently grew throughout the period, indicating increasing sales or accounts receivable, rising from around 611 million USD in 2020 to over 1.33 billion USD in 2024. Prepaid expenses also increased steadily, which might reflect higher prepayments related to operational activities.

Overall, current assets fluctuated with a dip in 2021 followed by a steady rise, culminating in a substantial increase to approximately 13.1 billion USD in 2024.

Content Assets

Licensed content net values declined modestly over the period, from roughly 13.75 billion USD in 2020 to approximately 12.42 billion USD in 2024, indicating potential amortization or reduced licensing investments.

Conversely, produced content net values expanded considerably, growing from 11.64 billion USD in 2020 to 20.03 billion USD by 2024. Within produced content, the 'released, less amortization' category increased from 5.81 billion USD in 2020 to over 10.15 billion USD in 2024. The 'in production' category showed growth from 4.83 billion USD in 2020 to a peak near 10.25 billion USD in 2022, then declined before rising again in 2024. The 'in development and pre-production' segment was more volatile, peaking in 2021 and then declining to about 561 million USD by 2024.

The total content assets net, combining licensed and produced content, displayed an upward trend overall, moving from 25.38 billion USD in 2020 to around 32.45 billion USD in 2024, despite some fluctuations.

Non-current Assets and Fixed Assets

Property and equipment net values steadily increased over the period from 960 million USD to nearly 1.6 billion USD, indicating ongoing investments in fixed assets.

Other non-current assets similarly grew, rising from approximately 3.17 billion USD in 2020 to about 6.48 billion USD in 2024. This suggests increasing investments or recognition of intangible or long-term assets beyond content and physical properties.

As a result, total non-current assets increased from roughly 29.52 billion USD in 2020 to over 40.52 billion USD in 2024, supporting a strategy of asset accumulation or capital investment.

Total Assets

Total assets rose consistently over the period, from approximately 39.28 billion USD at the end of 2020 to about 53.63 billion USD by the end of 2024. This reflects overall growth in the company's asset base driven principally by increases in produced content, other non-current assets, and current assets towards the end of the period.

Assets: Selected Items

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Current Assets: Selected Items

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Netflix Inc. (NASDAQ:NFLX)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items