Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2024

Content assets consisted of the following:


	As of
	March 31, 2024		December 31, 2023
	(in thousands)
Licensed content, net	$	12,549,546	$	12,722,701

Produced content, net
Released, less amortization	9,917,832		9,843,150
In production	8,242,560		8,247,578
In development and pre-production	952,162		844,627
	19,112,554		18,935,355

Content assets, net	$	31,662,100	$	31,658,056

The following table represents the amortization of content assets:

Property and equipment and accumulated depreciation consisted of the following:


	As of
	March 31, 2024		December 31, 2023		Estimated Useful Lives
	(in thousands)
Land	$	88,468	$	88,429
Buildings	156,345		150,736		30 years
Leasehold improvements	1,043,759		1,032,492		Over life of lease
Furniture and fixtures	139,968		144,737		3 years
Information technology	399,742		414,092		3 years
Corporate aircraft	99,175		99,175		8-10 years
Machinery and equipment	10,632		10,334		3-5 years
Capital work-in-progress	447,682		406,492
Property and equipment, gross	2,385,771		2,346,487
Less: Accumulated depreciation	(884,603)		(855,043)
Property and equipment, net	$	1,501,168	$	1,491,444

Information related to the Company's operating right-of-use assets and related operating lease liabilities were as follows:


	Three Months Ended
	March 31, 2024		March 31, 2023
	(in thousands)
Cash paid for operating lease liabilities	$	125,306	$	113,407
Right-of-use assets obtained in exchange for new operating lease obligations	183,962		20,894


	As of
	March 31, 2024		December 31, 2023
	(in thousands)
Operating lease right-of-use assets, net	$	2,159,325	$	2,076,899

Current operating lease liabilities	397,628		383,312
Non-current operating lease liabilities	2,098,004		2,046,801
Total operating lease liabilities	$	2,495,632	$	2,430,113

Other current assets consisted of the following: