Netflix Inc., balance sheet: property, plant and equipment

US$ in thousands

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Land	85,000)	85,000)	85,005)	82,381)	50,700)
Buildings and improvements	475,684)	154,165)	52,106)	48,123)	42,717)
Leasehold improvements	1,026,593)	1,032,492)	1,040,570)	863,342)	524,537)
Furniture and fixtures	134,987)	144,737)	153,682)	139,809)	110,185)
Information technology	446,419)	414,092)	442,681)	380,452)	283,014)
Corporate aircraft	99,175)	99,175)	115,578)	110,978)	110,629)
Machinery and equipment	15,135)	10,334)	26,821)	32,426)	34,633)
Capital work-in-progress	228,300)	406,492)	235,555)	282,248)	298,558)
Property and equipment, gross	2,511,293)	2,346,487)	2,151,998)	1,939,759)	1,454,973)
Accumulated depreciation	(917,537)	(855,043)	(753,741)	(616,306)	(494,790)
Property and equipment, net	1,593,756)	1,491,444)	1,398,257)	1,323,453)	960,183)

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Item	Description	The company
Property and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Netflix Inc. property and equipment, gross increased from 2022 to 2023 and from 2023 to 2024.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Netflix Inc. property and equipment, net increased from 2022 to 2023 and from 2023 to 2024.

Netflix Inc., asset age ratios

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
	Average age ratio	37.82%	37.81%	36.47%	33.18%	35.23%

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Netflix Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2022 to 2023 and from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in thousands)
Accumulated depreciation	917,537)	855,043)	753,741)	616,306)	494,790)
Property and equipment, gross	2,511,293)	2,346,487)	2,151,998)	1,939,759)	1,454,973)
Land	85,000)	85,000)	85,005)	82,381)	50,700)
Asset Age Ratio
Average age¹	37.82%	37.81%	36.47%	33.18%	35.23%

2024 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property and equipment, gross – Land)
= 100 × 917,537 ÷ (2,511,293 – 85,000) = 37.82%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Netflix Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2022 to 2023 and from 2023 to 2024.

Netflix Inc. (NASDAQ:NFLX)

Analysis of Property, Plant and Equipment