v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 12,259,772 $ 9,033,681
Short-term investments 28,678 28,678
Other current assets 4,782,532 3,957,832
Total current assets 17,070,982 13,020,191
Content assets, net 33,376,295 32,778,392
Property and equipment, net 2,147,829 2,004,350
Other non-current assets 8,420,808 7,794,060
Total assets 61,015,914 55,596,993
Current liabilities:    
Current content liabilities 4,052,278 4,084,854
Accounts payable 894,681 900,612
Accrued expenses and other liabilities 4,441,986 3,220,869
Deferred revenue 1,743,448 1,775,730
Short-term debt 999,185 998,865
Total current liabilities 12,131,578 10,980,930
Non-current content liabilities 1,626,498 1,579,476
Long-term debt 13,361,331 13,463,971
Other non-current liabilities 2,770,108 2,957,128
Total liabilities 29,889,515 28,981,505
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Common stock, $0.001 par value; 49,900,000,000 shares authorized at March 31, 2026 and December 31, 2025; 4,212,794,271 and 4,222,162,150 issued and outstanding at March 31, 2026 and December 31, 2025, respectively 7,478,495 7,286,410
Treasury stock at cost (360,366,959 and 346,541,145 shares at March 31, 2026 and December 31, 2025, respectively) (23,681,974) (22,372,658)
Accumulated other comprehensive loss (235,031) (580,382)
Retained earnings 47,564,909 42,282,118
Total stockholders’ equity 31,126,399 26,615,488
Total liabilities and stockholders’ equity $ 61,015,914 $ 55,596,993