Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

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 (quarterly data)

US$ in thousands

	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Current content liabilities	4,091,770)	4,128,905)	4,393,681)	4,489,971)	4,391,437)	4,436,021)	4,466,470)	4,259,582)	4,440,412)	4,344,580)	4,480,150)	4,225,890)	4,174,966)	4,066,289)	4,292,967)	4,110,962)	4,197,874)	4,297,957)	4,429,536)	4,599,654)	4,664,733)	4,761,585)
Accounts payable	632,718)	614,489)	899,909)	641,953)	598,557)	607,348)	747,412)	534,429)	615,374)	591,987)	671,513)	560,156)	504,278)	617,202)	837,483)	643,059)	622,931)	532,942)	656,183)	541,298)	446,668)	545,488)
Accrued expenses and other liabilities	2,489,486)	2,359,518)	2,156,544)	2,241,758)	1,876,244)	1,977,428)	1,803,960)	1,838,908)	1,908,714)	1,718,069)	1,514,650)	1,803,555)	1,596,035)	1,817,117)	1,449,351)	1,413,120)	1,125,591)	1,291,812)	1,102,196)	1,259,124)	986,595)	1,061,090)
Deferred revenue	1,728,361)	1,609,726)	1,520,813)	1,513,048)	1,473,720)	1,469,484)	1,442,969)	1,306,185)	1,311,918)	1,262,271)	1,264,661)	1,176,323)	1,224,743)	1,239,048)	1,209,342)	1,182,632)	1,187,364)	1,140,271)	1,117,992)	1,040,202)	1,029,261)	986,753)
Short-term debt	—)	1,005,881)	1,784,453)	1,820,396)	1,800,041)	798,936)	399,844)	399,614)	399,387)	399,163)	—)	—)	—)	—)	699,823)	699,473)	699,128)	698,788)	499,878)	499,517)	499,161)	498,809)
Current liabilities	8,942,335)	9,718,519)	10,755,400)	10,707,126)	10,139,999)	9,289,217)	8,860,655)	8,338,718)	8,675,805)	8,316,070)	7,930,974)	7,765,924)	7,500,022)	7,739,656)	8,488,966)	8,049,246)	7,832,888)	7,961,770)	7,805,785)	7,939,795)	7,626,418)	7,853,725)
Non-current content liabilities	1,606,404)	1,696,662)	1,780,806)	1,918,089)	2,028,782)	2,370,692)	2,578,173)	2,668,472)	2,849,387)	2,908,029)	3,081,277)	2,955,368)	2,989,961)	2,945,221)	3,094,213)	2,301,026)	2,265,286)	2,465,626)	2,618,084)	2,926,574)	3,208,164)	3,206,051)
Long-term debt	14,453,206)	14,011,037)	13,798,351)	14,160,932)	12,180,024)	13,217,038)	14,143,417)	13,900,754)	14,070,151)	14,037,965)	14,353,076)	13,888,117)	14,233,303)	14,534,561)	14,693,072)	14,793,691)	14,926,889)	14,860,552)	15,809,095)	15,547,616)	15,294,998)	14,170,692)
Other non-current liabilities	3,145,820)	2,633,353)	2,552,250)	2,774,961)	2,637,397)	2,585,364)	2,561,434)	2,486,215)	2,389,915)	2,400,085)	2,452,040)	2,424,637)	2,551,675)	2,567,427)	2,459,164)	2,281,277)	2,082,035)	1,950,986)	1,982,155)	1,875,235)	1,710,948)	1,420,148)
Non-current liabilities	19,205,430)	18,341,052)	18,131,407)	18,853,982)	16,846,203)	18,173,094)	19,283,024)	19,055,441)	19,309,453)	19,346,079)	19,886,393)	19,268,122)	19,774,939)	20,047,209)	20,246,449)	19,375,994)	19,274,210)	19,277,164)	20,409,334)	20,349,425)	20,214,110)	18,796,891)
Total liabilities	28,147,765)	28,059,571)	28,886,807)	29,561,108)	26,986,202)	27,462,311)	28,143,679)	27,394,159)	27,985,258)	27,662,149)	27,817,367)	27,034,046)	27,274,961)	27,786,865)	28,735,415)	27,425,240)	27,107,098)	27,238,934)	28,215,119)	28,289,220)	27,840,528)	26,650,616)
Common stock, $0.001 par value	6,932,828)	6,677,469)	6,252,126)	5,887,903)	5,680,061)	5,489,850)	5,145,172)	5,011,427)	4,874,208)	4,762,395)	4,637,601)	4,473,962)	4,316,870)	4,155,580)	4,024,561)	3,852,531)	3,721,246)	3,600,084)	3,447,698)	3,303,482)	3,127,813)	2,935,532)
Treasury stock at cost	(18,392,942)	(16,754,929)	(13,171,638)	(12,254,855)	(10,547,055)	(8,934,056)	(6,922,200)	(4,399,677)	(1,876,753)	(1,228,920)	(824,190)	(824,190)	(824,190)	(824,190)	(824,190)	(600,022)	(500,022)	—)	—)	—)	—)	—)
Accumulated other comprehensive income (loss)	(904,668)	(85,735)	362,162)	(344,622)	(89,114)	(111,879)	(223,945)	(155,571)	(139,266)	(191,695)	(217,306)	(247,643)	(144,476)	(74,170)	(40,495)	(19,835)	9,775)	4,137)	44,398)	(1,147)	(34,072)	(47,054)
Retained earnings	37,316,681)	34,191,268)	31,300,917)	29,432,310)	27,068,801)	24,921,495)	22,589,286)	21,651,448)	19,974,026)	18,486,416)	17,181,296)	17,126,012)	15,727,770)	14,286,819)	12,689,372)	12,081,943)	10,632,872)	9,279,859)	7,573,144)	7,030,988)	6,241,012)	5,520,816)
Stockholders’ equity	24,951,899)	24,028,073)	24,743,567)	22,720,736)	22,112,693)	21,365,410)	20,588,313)	22,107,627)	22,832,215)	21,828,196)	20,777,401)	20,528,141)	19,075,974)	17,544,039)	15,849,248)	15,314,617)	13,863,871)	12,884,080)	11,065,240)	10,333,323)	9,334,753)	8,409,294)
Total liabilities and stockholders’ equity	53,099,664)	52,087,644)	53,630,374)	52,281,844)	49,098,895)	48,827,721)	48,731,992)	49,501,786)	50,817,473)	49,490,345)	48,594,768)	47,562,187)	46,350,935)	45,330,904)	44,584,663)	42,739,857)	40,970,969)	40,123,014)	39,280,359)	38,622,543)	37,175,281)	35,059,910)

Current content liabilities: The current content liabilities exhibit a generally declining trend from March 2020 to June 2025, decreasing from approximately $4.76 billion to around $4.09 billion. This suggests a gradual reduction in short-term obligations related to content costs.
Accounts payable: Accounts payable fluctuate over the periods, initially decreasing in mid-2020, then increasing to reach a peak near $899.9 million in March 2025, indicating variability in obligations to suppliers and increasing payables towards the later periods.
Accrued expenses and other liabilities: There is a noticeable upward trend in accrued expenses and other liabilities, rising from around $1.06 billion in early 2020 to approximately $2.49 billion by mid-2025, suggesting growing accrued and miscellaneous payables over time.
Deferred revenue: Deferred revenue steadily increases from about $987 million in March 2020 to approximately $1.73 billion in June 2025. This consistent growth may reflect increasing customer prepayments or subscription billing patterns.
Short-term debt: Short-term debt remains relatively stable around $500 million through 2020, then shows discontinuities with missing data through early 2022, reappearing later significantly increased, peaking near $1.82 billion in September 2024 before declining to about $1 billion in March 2025, indicating more aggressive short-term borrowing in the later years.
Current liabilities: Current liabilities show some volatility, initially peaking near $8.49 billion in late 2021, followed by fluctuations around $8 billion, then a drop to about $8.94 billion in mid-2025. Overall, current liabilities remain substantial but do not exhibit a consistent directional trend.
Non-current content liabilities: Non-current content liabilities decline steadily from roughly $3.21 billion in early 2020 to about $1.61 billion by mid-2025, indicating a reduction in long-term content-related obligations.
Long-term debt: Long-term debt remains at high levels throughout the periods, fluctuating between approximately $13.2 billion and $16 billion, with some decrease around 2023 and subsequent partial recovery, reflecting significant but somewhat stable long-term borrowing.
Other non-current liabilities: Other non-current liabilities rise gradually from $1.42 billion in early 2020 to over $3.14 billion by mid-2025, indicating increasing longer-term obligations apart from debt and content liabilities.
Non-current liabilities: Non-current liabilities overall fluctuate between $16.0 billion and $20.3 billion, showing some decline towards 2025 but remaining substantial, with no clear consistent growth or reduction trend.
Total liabilities: Total liabilities peak near $29.56 billion in late 2024, with earlier steady increases from $26.65 billion in March 2020. The data shows some declining trends thereafter, ending around $28.15 billion in mid-2025. This indicates overall elevated but slightly fluctuating debt and obligations levels.
Common stock: Common stock values steadily increase from approximately $2.94 billion in early 2020 to nearly $6.93 billion by mid-2025, consistent with ongoing equity issuance or retained equity growth.
Treasury stock at cost: Treasury stock reflects growing negative amounts from mid-2021 onwards, increasing in magnitude from around -$500 million to nearly -$18.4 billion by mid-2025. This indicates significant repurchases of company stock over the period.
Accumulated other comprehensive income (loss): This item exhibits considerable volatility and swings between positive and negative values, with a notable negative spike near -$904 million in mid-2025, reflecting fluctuating gains or losses from non-operating activities such as foreign currency translation or hedging.
Retained earnings: Retained earnings display steady growth from $5.52 billion in March 2020 to approximately $37.32 billion by mid-2025, indicating consistent accumulation of earnings over the periods.
Stockholders’ equity: Stockholders’ equity generally increases from about $8.41 billion to around $24.95 billion by mid-2025, despite some declines in 2023 and early 2024, reflecting overall equity growth driven primarily by retained earnings and common stock issuance net of treasury stock effects.
Total liabilities and stockholders’ equity: The total capitalization rises from approximately $35.06 billion in early 2020 to a peak near $53.63 billion in early 2025. This represents an expansion of the company's financial base, with some fluctuation near the end of the period but overall substantial growth.

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Netflix Inc. (NASDAQ:NFLX)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data