v3.26.3
Balance Sheet Components (Tables)
 9 Months Ended
Sep. 30, 2026
Balance Sheet Related Disclosures [Abstract]  
Schedule of Content Assets
Content assets consisted of the following:
As of
September 30,
2026		December 31,
2025
(in thousands)
Licensed content, net
$12,508,405 $12,138,578 
Produced content, net
Released, less amortization
10,369,622 10,687,444 
In production
10,905,673 9,210,735 
In development and pre-production
821,777 741,635 
22,097,072 20,639,814 

Content assets, net
$34,605,477 $32,778,392 
Schedule of Amortization of Content Assets
The following table summarizes the amortization of content assets:
Three Months EndedNine Months Ended
September 30,
2026		September 30,
2025		September 30,
2026		September 30,
2025
(in thousands)
Licensed content$2,271,145 $2,253,603 $6,817,921 $6,262,335 
Produced content1,964,309 1,749,141 5,946,742 5,395,595 
Total$4,235,454 $4,002,744 $12,764,663 $11,657,930 
Schedule of Property and Equipment and Accumulated Depreciation
Property and equipment and accumulated depreciation consisted of the following:
As of
September 30,
2026		December 31,
2025		Estimated Useful Lives
(in thousands)
Land
$155,870 $155,664 
Buildings and improvements
559,410 537,082 30 years
Leasehold improvements
1,398,853 1,263,051 Over life of lease
Furniture and fixtures
165,931 157,984 
3 years
Information technology
718,399 572,407 
3-5 years
Corporate aircraft
185,660 99,164 
8-10 years
Machinery and equipment
46,808 30,879 
3-5 years
Capital work-in-progress
602,158 285,010 
Property and equipment, gross
3,833,089 3,101,241 
Less: Accumulated depreciation
(1,272,470)(1,096,891)
Property and equipment, net
$2,560,619 $2,004,350 
Schedule of Information on Right-of-Use Assets and Lease Liabilities
Information related to the Company’s operating right-of-use assets and related operating lease liabilities were as follows:
Three Months EndedNine Months Ended
September 30,
2026		September 30,
2025		September 30,
2026		September 30,
2025
(in thousands)
Cash paid for operating lease liabilities$137,673 $108,787 $412,197 $356,708 
Right-of-use assets obtained in exchange for new operating lease obligations40,845 235,513 89,711 447,040 
As of
September 30,
2026		December 31,
2025
(in thousands)
Operating lease right-of-use assets, net$1,969,057 $2,207,161 
Current operating lease liabilities435,730 460,475 
Non-current operating lease liabilities1,816,507 2,052,526 
Total operating lease liabilities$2,252,237 $2,513,001 
Schedule of Other Current Assets
Other current assets consisted of the following:
As of
September 30,
2026		December 31,
2025
(in thousands)
Trade receivables
$2,060,374 $2,031,476 
Prepaid expenses
593,552 498,054 
Other
2,345,458 1,428,302 
Total other current assets
$4,999,384 $3,957,832