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Stockholders' Equity
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders’ Equity
Equity Incentive Plans
The Netflix, Inc. 2020 Stock Plan is a stockholder-approved plan that provides for the grant of incentive stock options to employees and for the grant of non-statutory stock options, stock appreciation rights, restricted stock and restricted stock units to employees, directors and consultants.
Stock Option Activity
Stock options are generally vested in full upon grant date and exercisable for the full ten-year contractual term regardless of employment status. Stock options granted to certain named executive officers vest on the one-year anniversary of the grant date, subject to the employee’s continuous employment or service with the Company through the vesting date.
The following table summarizes the activities related to the Company’s stock options:
Options Outstanding
Number of
Shares		Weighted-
Average
Exercise Price
(per share)
Balances as of December 31, 202319,695,109 $268.86 
Granted
337,121 555.69
Exercised
(2,543,267)153.25 
Expired
(3,171)53.41 
Balances as of June 30, 202417,485,792 $291.25 
Vested and expected to vest as of June 30, 202417,485,792 $291.25 
Exercisable as of June 30, 202417,352,136 $290.14 

Restricted Stock Unit Activity
The Company grants time-based restricted stock unit (“RSU”) awards and performance-based restricted stock unit (“PSU”) awards to certain executive officers. RSU awards vest quarterly over a three-year period subject to the executive’s continued employment or service with the Company through the vesting date. PSU awards have performance periods ranging from one to three years and vest depending on the Company’s achievement of predetermined market-based performance targets.
The following table summarizes the activities related to the Company’s unvested RSUs and PSUs:
Unvested Restricted Stock Units
Number of
Shares		Weighted-
Average
Grant-Date Fair Value
(per share)
Balances as of December 31, 2023— $— 
Granted
159,978 686.36
Vested
(13,330)562.00 
Forfeited
— — 
Balances as of June 30, 2024146,648 $697.66 
Stock-based Compensation
Total stock-based compensation expense was $69 million and $145 million for the three and six months ended June 30, 2024, respectively, and $78 million and $177 million for the three and six months ended June 30, 2023, respectively.
Stock Repurchases
In March 2021, the Company’s Board of Directors authorized the repurchase of up to $5 billion of its common stock, with no expiration date, and in September 2023, the Board of Directors increased the share repurchase authorization by an additional $10 billion, also with no expiration date. Stock repurchases may be effected through open market repurchases in compliance with Rule 10b-18 under the Exchange Act, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act, privately-negotiated transactions, accelerated stock repurchase plans, block purchases, or other similar purchase techniques and in such amounts as management deems appropriate. The Company is not obligated to repurchase any specific number of shares, and the timing and actual number of shares repurchased will depend on a variety of factors, including the Company’s stock price, general economic, business and market conditions, and alternative investment opportunities. The Company may discontinue any repurchases of its common stock at any time without prior notice. During the three and six months ended June 30, 2024, the Company repurchased 2,578,104 and 6,145,069 shares, respectively, for an aggregate amount of $1.6 billion and $3.6 billion, respectively. As of June 30, 2024, $4.8 billion remains available for repurchases. Shares repurchased by the Company are accounted for when the transaction is settled. As of June 30, 2024, there were no unsettled share repurchases. Direct costs incurred to acquire the shares are included in the total cost of the shares.
Accumulated Other Comprehensive Income (Loss)
The following tables summarize the changes in accumulated balances of other comprehensive income (loss) for the three and six months ended June 30, 2024:
Foreign Currency Translation
Adjustments		Net Investment Hedge Gains (Losses)Change in Unrealized Gains (Losses) on Cash Flow HedgesTax (Expense) Benefit on Cash Flow HedgesTax (Expense) Benefit on Net Investment HedgesTotal
(in thousands)
Balances as of March 31, 2024$(176,974)$— $84,461 $(19,366)$— $(111,879)
Other comprehensive income (loss) before reclassifications
(72,626)(3,400)160,544 (36,811)780 48,487 
Amounts reclassified from accumulated other comprehensive income (loss)
— — (33,374)7,652 — (25,722)
Net change in accumulated other comprehensive income (loss)
(72,626)(3,400)127,170 (29,159)780 22,765 
Balances as of June 30, 2024$(249,600)$(3,400)$211,631 $(48,525)$780 $(89,114)

Foreign Currency Translation
Adjustments		Net Investment Hedge Gains (Losses)Change in Unrealized Gains (Losses) on Cash Flow HedgesTax (Expense) Benefit on Cash Flow HedgesTax (Expense) Benefit on Net Investment HedgesTotal
(in thousands)
Balances as of December 31, 2023$(103,922)$— $(155,730)$35,707 $— $(223,945)
Other comprehensive income (loss) before reclassifications
(145,678)(3,400)389,688 (89,351)780 152,039 
Amounts reclassified from accumulated other comprehensive income (loss)
— — (22,327)5,119 — (17,208)
Net change in accumulated other comprehensive income (loss)
(145,678)(3,400)367,361 (84,232)780 134,831 
Balances as of June 30, 2024$(249,600)$(3,400)$211,631 $(48,525)$780 $(89,114)
The following tables summarize the changes in accumulated balances of other comprehensive income (loss) for the three and six months ended June 30, 2023:
Foreign Currency Translation
Adjustments		Net Investment Hedge Gains (Losses)Change in Unrealized Gains (Losses) on Cash Flow HedgesTax (Expense) Benefit on Cash Flow HedgesTax (Expense) Benefit on Net Investment HedgesTotal
(in thousands)
Balances as of March 31, 2023$(191,695)$— $— $— $— $(191,695)
Other comprehensive income (loss) before reclassifications
52,429 — — — — 52,429 
Net change in accumulated other comprehensive income (loss)52,429 — — — — 52,429 
Balances as of June 30, 2023
$(139,266)$— $— $— $— $(139,266)
Foreign Currency Translation
Adjustments		Net Investment Hedge Gains (Losses)Change in Unrealized Gains (Losses) on Cash Flow HedgesTax (Expense) Benefit on Cash Flow HedgesTax (Expense) Benefit on Net Investment HedgesTotal
(in thousands)
Balances as of December 31, 2022$(217,306)$— $— $— $— $(217,306)
Other comprehensive income (loss) before reclassifications
78,040 — — — — 78,040 
Net change in accumulated other comprehensive income (loss)78,040 — — — — 78,040 
Balances as of June 30, 2023
$(139,266)$— $— $— $— $(139,266)
The following tables summarize the amounts reclassified from AOCI to the Consolidated Statement of Operations:
Three Months Ended
June 30, 2024
RevenuesCost of RevenuesProvision for Income TaxesTotal Reclassifications
(in thousands)
Gains (losses) on derivatives in cash flow hedging relationship
Foreign exchange contracts
Amount of gains (losses) reclassified from AOCI$33,301 $73 $(7,652)$25,722 
Six Months Ended
June 30, 2024
RevenuesCost of RevenuesProvision for Income TaxesTotal Reclassifications
(in thousands)
Gains (losses) on derivatives in cash flow hedging relationship
Foreign exchange contracts
Amount of gains (losses) reclassified from AOCI$22,060 $267 $(5,119)$17,208 
No gains or losses on derivative instruments were reclassified from AOCI into the Consolidated Statements of Operations in the three and six months ended June 30, 2023.