Netflix (NFLX)

Stock Repurchases

On January 26, 2009, the Company announced that its Board of Directors authorized a stock repurchase program for 2009. Under this program, the Company anticipates repurchasing up to $132 million during the second through fourth quarters of 2009. The timing and actual number of shares repurchased will depend on various factors including price, corporate and regulatory requirements, alternative investment opportunities and other market conditions. During the three months ended March 31, 2009, under this program, the Company repurchased 1,176,543 shares of common stock at an average price of approximately $36 per share for an aggregate amount of approximately $43 million. Shares repurchased under this program are held as treasury stock and accordingly repurchases were accounted for under the treasury method.

There were no unsettled share repurchases at March 31, 2009.

Stock Repurchases

On March 5, 2008, the Company’s Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $150 million of its common stock through the end of 2008. During the three months ended September 30, 2008, the Company repurchased 2,991,684 shares of common stock under this program. Shares were purchased at an average price of approximately $30 per share for an aggregate amount of approximately $90 million. As the ultimate disposition has not been decided, repurchased shares under this plan are recorded as treasury stock under the cost method. As of September 30, 2008, there were no unsettled share repurchases.

On January 31, 2008, the Company’s Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $100 million of its common stock through the end of 2008. During the three months ended March 31, 2008, the Company repurchased 3,847,062 shares of common stock under this program. Shares were purchased at an average price of approximately $26 per share for an aggregate amount of $100 million. Repurchased shares under this plan were accounted for under the retirement method, as all shares repurchased had been retired.

On April 17, 2007, the Company’s Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $100 million of its common stock through the end of 2007. During the three months ended September 30, 2007, the Company repurchased 2,061,687 shares of common stock at an average price of approximately $17 per share for an aggregate amount of approximately $35 million. During the nine months ended September 30, 2007, the Company repurchased 3,444,149 shares of common stock at an average price of approximately $19 per share for an aggregate amount of $66 million. During the year ended December 31, 2007, the Company repurchased 4,733,788 shares of common stock at an average price of approximately $21 per share for an aggregate amount of $100 million. Repurchased shares under this plan were accounted for under the retirement method, as all shares repurchased had been retired.

Stock Repurchases

On March 5, 2008, the Company’s Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $150.0 million of its common stock through the end of 2008. No shares have been repurchased under this program as of June 30, 2008.

On January 31, 2008, the Company’s Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $100.0 million of its common stock through the end of 2008. During the six months ended June 30, 2008, the Company repurchased 3,847,062 shares of common stock under this program. Shares were purchased at an average price of $25.96 per share for an aggregate amount of $99.9 million, net of expenses.

On April 17, 2007, the Company’s Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $100.0 million of its common stock through the end of 2007. During the three months ended June 30, 2007, the Company repurchased 1,382,462 shares of common stock at an average price of $21.86 per share for an aggregate amount of $30.2 million, net of expenses.

Stock Repurchases

On March 5, 2008, the Company’s Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $150.0 million of its common stock through the end of 2008. Under this program, no shares were repurchased during the three months ended March 31, 2008.

On January 31, 2008, the Company’s Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $100.0 million of its common stock through the end of 2008. Under this program, the Company repurchased 3,847,062 shares of common stock at an average price of $25.96 per share for an aggregate amount of $99.9 million, net of expenses. The Company had no stock repurchases during the three months ended March 31, 2007.

5. Stock Repurchases

On April 18, 2007, the Company announced a stock repurchase program allowing the Company to repurchase up to $100.0 million of its common stock through the end of 2007. During the three months ended September 30, 2007, the Company repurchased 2,061,687 shares of common stock at an average price of $17.14 per share for an aggregate amount of $35.3 million. During the nine months ended September 30, 2007, the Company repurchased 3,444,149 shares of common stock at an average price of $19.03 per share for an aggregate amount of $65.5 million. Stock repurchases are accounted for under the retirement method as all shares repurchased have been retired. There were no unsettled share repurchases as of September 30, 2007.

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5. Stock Repurchases

On April 18, 2007, the Company announced a stock repurchase program allowing the Company to repurchase up to $100.0 million of its common stock through the end of 2007. During the three months ended June 30, 2007, the Company repurchased 1,382,462 shares of common stock at an average price of $21.86 per share for an aggregate amount of $30.2 million. Stock repurchases are accounted for under the retirement method as all shares repurchased have been retired. There were no unsettled share repurchases as of June 30, 2007.