What accounts do you think would be appropriate to use to calculate Netflixs cash conversion cycle? Using these, what is the number of days cash conversion Netflix has for the most recent two years?
As of December 31, 2018 2017 Assets $ Current assets: Cash and cash equivalents Current content assets, net Other current assets Total current assets Non-current content assets, net Property and equipment, net Other non-current assets 3,794,483 5,151,186 748,466 9,694,135 14,960,954 418,281 901,030 25,974,400 2,822,795 4,310,934 536,245 7,669,974 10,371,055 319,404 652,309 19,012,742 Total assets S S $ Liabilities and Stockholders' Equity Current liabilities: Current content liabilities Accounts payable Accrued expenses Deferred revenue Total current liabilities Non-current content liabilities Long-term debt Other non-current liabilities Total liabilities Commitments and contingencies (Note 5) 4,686,019 562,985 477,417 760,899 6,487,320 3,759,026 10,360,058 129,231 20,735,635 4,173,041 359,555 315,094 618,622 5,466,312 3,329,796 6,499,432 135,246 15,430,786 20201 20119 S 8,205,550 $ 1,556,030 9,761,580 5,018,437 1,160,067 6,178,504 24,504,567 565,221 25,383,950 960,183 3.174,646 39,280,359 $ 2,727,420 33,975,712 S Assets Current assets: Cash and cash equivalents Other current assets Total current assets Content assets, net Property and equipment, net Other non-current assets - Total assets Liabilities and Stockholders' Equity Current liabilities: Current content liabilities Accounts payable Accrued expenses and other liabilities Deferred revenue Short-term debt Total current liabilities Non-current content liabilities Long-term debt Other non-current liabilities Total liabilities Commitments and contingencies (Note 7) Stockholders' equity S 4,429,536 $ 4,413,561 656,183 674,347 843,043 1,102,196 1,117,992 499,878 924,745 7,805,785 2,618,084 15,809,095 6,855,696 3,334,323 14,759,260 1,982,155 1,444,276 28,215,119 26,393,555 Year ended December 31, 2020 2019 2018 Revenues $ 24,996,056 $ 20,156,447 $ 15,794,341 Cost of revenues 15,276,319 12,440,213 9,967,538 2,228,362 2,369,469 Marketing Technology and development 2,652,462 1,545,149 1,829,600 1,221,814 General and administrative 1,076,486 914,369 630,294 4,585,289 2,604,254 1,605,226 Operating income Other income (expense): Interest expense (626,023) (420,493) (767,499) (618,441) Interest and other income (expense) 84,000 41,725 Income before income taxes 3,199,349 2,062,231 1,226,458 Provision for income taxes (437,954) (195,315) (15,216) Net income $ 2,761,395 $ 1,866,916 $ 1,211,242 Earnings per share: Basic $ 6.26 $ 4.26 $ 2.78 Diluted $ 6.08 $ 4.13 $ 2.68 Weighted-average common shares outstanding: Basic 440,922 437,799 435,374 Diluted 454,208 451,765 451,244 As of December 31, 2018 2017 Assets $ Current assets: Cash and cash equivalents Current content assets, net Other current assets Total current assets Non-current content assets, net Property and equipment, net Other non-current assets 3,794,483 5,151,186 748,466 9,694,135 14,960,954 418,281 901,030 25,974,400 2,822,795 4,310,934 536,245 7,669,974 10,371,055 319,404 652,309 19,012,742 Total assets S S $ Liabilities and Stockholders' Equity Current liabilities: Current content liabilities Accounts payable Accrued expenses Deferred revenue Total current liabilities Non-current content liabilities Long-term debt Other non-current liabilities Total liabilities Commitments and contingencies (Note 5) 4,686,019 562,985 477,417 760,899 6,487,320 3,759,026 10,360,058 129,231 20,735,635 4,173,041 359,555 315,094 618,622 5,466,312 3,329,796 6,499,432 135,246 15,430,786 20201 20119 S 8,205,550 $ 1,556,030 9,761,580 5,018,437 1,160,067 6,178,504 24,504,567 565,221 25,383,950 960,183 3.174,646 39,280,359 $ 2,727,420 33,975,712 S Assets Current assets: Cash and cash equivalents Other current assets Total current assets Content assets, net Property and equipment, net Other non-current assets - Total assets Liabilities and Stockholders' Equity Current liabilities: Current content liabilities Accounts payable Accrued expenses and other liabilities Deferred revenue Short-term debt Total current liabilities Non-current content liabilities Long-term debt Other non-current liabilities Total liabilities Commitments and contingencies (Note 7) Stockholders' equity S 4,429,536 $ 4,413,561 656,183 674,347 843,043 1,102,196 1,117,992 499,878 924,745 7,805,785 2,618,084 15,809,095 6,855,696 3,334,323 14,759,260 1,982,155 1,444,276 28,215,119 26,393,555 Year ended December 31, 2020 2019 2018 Revenues $ 24,996,056 $ 20,156,447 $ 15,794,341 Cost of revenues 15,276,319 12,440,213 9,967,538 2,228,362 2,369,469 Marketing Technology and development 2,652,462 1,545,149 1,829,600 1,221,814 General and administrative 1,076,486 914,369 630,294 4,585,289 2,604,254 1,605,226 Operating income Other income (expense): Interest expense (626,023) (420,493) (767,499) (618,441) Interest and other income (expense) 84,000 41,725 Income before income taxes 3,199,349 2,062,231 1,226,458 Provision for income taxes (437,954) (195,315) (15,216) Net income $ 2,761,395 $ 1,866,916 $ 1,211,242 Earnings per share: Basic $ 6.26 $ 4.26 $ 2.78 Diluted $ 6.08 $ 4.13 $ 2.68 Weighted-average common shares outstanding: Basic 440,922 437,799 435,374 Diluted 454,208 451,765 451,244
