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Netflix Inc. (NASDAQ:NFLX)


Balance Sheet: Liabilities and Stockholders’ Equity

Beginner level

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

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Netflix Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

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Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Current content liabilities 4,413,561  4,686,019  4,173,041  3,632,711  2,789,023 
Accounts payable 674,347  562,985  359,555  312,842  253,491 
Accrued expenses and other liabilities 843,043  477,417  315,094  197,632  140,389 
Deferred revenue 924,745  760,899  618,622  443,472  346,721 
Current liabilities 6,855,696  6,487,320  5,466,312  4,586,657  3,529,624 
Non-current content liabilities 3,334,323  3,759,026  3,329,796  2,894,654  2,026,360 
Long-term debt 14,759,260  10,360,058  6,499,432  3,364,311  2,371,362 
Other non-current liabilities 1,444,276  129,231  135,246  61,188  52,099 
Non-current liabilities 19,537,859  14,248,315  9,964,474  6,320,153  4,449,821 
Total liabilities 26,393,555  20,735,635  15,430,786  10,906,810  7,979,445 
Preferred stock, $0.001 par value; no shares issued and outstanding —  —  —  —  — 
Common stock, $0.001 par value 2,793,929  2,315,988  1,871,396  1,599,762  1,324,809 
Accumulated other comprehensive loss (23,521) (19,582) (20,557) (48,565) (43,308)
Retained earnings 4,811,749  2,942,359  1,731,117  1,128,603  941,925 
Stockholders’ equity 7,582,157  5,238,765  3,581,956  2,679,800  2,223,426 
Total liabilities and stockholders’ equity 33,975,712  25,974,400  19,012,742  13,586,610  10,202,871 

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Netflix Inc.’s current liabilities increased from 2017 to 2018 and from 2018 to 2019.
Non-current liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Netflix Inc.’s non-current liabilities increased from 2017 to 2018 and from 2018 to 2019.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Netflix Inc.’s total liabilities increased from 2017 to 2018 and from 2018 to 2019.
Stockholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Netflix Inc.’s stockholders’ equity increased from 2017 to 2018 and from 2018 to 2019.