See Note 6 Debt on p. 52 of Netflix 2022 Annual Report. See issuance dates and amounts. In conjunction with our understanding of their current business model (buying content at a fixed cost with most of the payment due upfront and spending large upfront costs for creating original content), why did Netflix have to keep borrowing large sums from 2013 to 2019? Also, why might they have chosen to use debt instead of equity financing? You may want to review and quote from the article from Fortune Magazine titled "Why Netflix is Binging on Junk Bonds" .