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

	Sep 30, 2025	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	4,102,640)	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	793,233)	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	3,111,311)	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	1,724,675)	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	9,731,859)	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	1,591,973)	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	14,463,020)	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	3,193,948)	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	19,248,941)	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	28,980,800)	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	7,080,325)	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	(20,270,631)	(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)	(719,256)	(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	39,863,597)	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	25,954,035)	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	54,934,835)	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 show a mild decreasing trend from 4,761,585 thousand USD at the first quarter of 2020 to about 4,102,640 thousand USD by the third quarter of 2025, with minor fluctuations. There is an observable dip around 2025, indicating a gradual reduction in these liabilities over the extended period.
Accounts Payable: Accounts payable exhibit a fluctuating pattern with some periods of increase and decrease. Starting at 545,488 thousand USD in March 2020, it peaks around 899,909 thousand USD in March 2025, indicating variability but an overall rising trend toward the later years.
Accrued Expenses and Other Liabilities: This category consistently increases over the time frame, starting at 1,061,090 thousand USD in early 2020 and reaching over 3,111,311 thousand USD by the third quarter of 2025, signaling growing accrued expenses and other liabilities.
Deferred Revenue: Deferred revenue steadily grows from 986,753 thousand USD at the beginning of 2020 to over 1,724,675 thousand USD by late 2025. The trend indicates increasing advance payments or unearned revenue, reflecting the potential growth of subscription or service engagements.
Short-term Debt: Short-term debt remains mostly stable around 499,000 thousand USD in the initial period, spikes to about 799,000 thousand USD in early 2023, then significantly increases sharply to approximately 1,820,000 thousand USD by mid-2024, followed by a decrease to around 1,005,881 thousand USD in early 2025. This suggests shifts in short-term borrowing needs or refinancing activities.
Current Liabilities: Current liabilities maintain a variable but overall upward trend, peaking near 10,755,400 thousand USD in late 2024 before declining to around 9,731,859 thousand USD by the third quarter of 2025. This indicates an increasing obligation profile with some recent reduction.
Non-current Content Liabilities: Non-current content liabilities gradually decline from about 3,206,051 thousand USD at the start to approximately 1,591,973 thousand USD by late 2025, showing a significant reduction which could reflect amortization or repayment of long-term obligations.
Long-term Debt: Long-term debt fluctuates within a range of approximately 13,217,038 to 16,000,000 thousand USD. There are periods of decline, notably from early 2020 through mid-2023, reaching 12,170,038 thousand USD at one point, followed by a rise again near 14,463,020 thousand USD by late 2025. This pattern indicates variable leveraging or debt management strategies.
Other Non-current Liabilities: Other non-current liabilities generally increase, starting from roughly 1,420,148 thousand USD and reaching over 3,193,948 thousand USD by the end of the period, highlighting growing non-content related long-term obligations.
Non-current Liabilities: Non-current liabilities overall show a decreasing trend from about 18,796,891 thousand USD to around 19,248,941 thousand USD with notable fluctuations. The values peak early in the period and decline steeply around the middle years, reflecting debt repayment or liability restructuring.
Total Liabilities: Total liabilities peak near 29,561,108 thousand USD in late 2024 with fluctuations throughout the period, showing a general tendency for moderate volatility in the total obligations, with a slight decrease towards the end of the period at 28,980,800 thousand USD.
Common Stock: Common stock shows a steady increase across the timeline, from 2,935,532 thousand USD in early 2020 to about 7,080,325 thousand USD by late 2025, indicating ongoing issuance of stock or appreciation in equity value.
Treasury Stock at Cost: Treasury stock increases significantly in absolute terms (cost), reflecting rising stock repurchases. Starting with small values and intensifying towards nearly -20,270,631 thousand USD by late 2025, this trend suggests aggressive share buyback activities.
Accumulated Other Comprehensive Income (Loss): This component shows considerable fluctuations, alternating between losses and gains. Notably, there are deepening losses during mid-periods, with a marked negative effect in various years; however, some recovery occurs later. The variability points to volatile comprehensive income factors such as currency translation or unrealized gains/losses.
Retained Earnings: Retained earnings depict a strong upward trajectory, starting from 5,520,816 thousand USD and escalating steadily to nearly 39,863,597 thousand USD by the third quarter of 2025. This trend suggests consistent profitability and reinvestment of earnings over time.
Stockholders’ Equity: Stockholders’ equity increases from roughly 8,409,294 thousand USD to about 25,954,035 thousand USD by late 2025, indicating growth in net assets attributable to shareholders, albeit with minor fluctuations such as a decrease around 2023-2024.
Total Liabilities and Stockholders’ Equity: The total of liabilities and stockholders’ equity steadily grows from 35,059,910 thousand USD to approximately 54,934,835 thousand USD, reflecting an overall increase in the balance sheet size and company scale.

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Netflix Inc. (NASDAQ:NFLX)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data