Property and Equipment, Net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

NOTE 6 — Property and Equipment, Net

Our property and equipment consists of the following:



	December 31,
	2017			2016
	(In thousands)
Capitalized software development	$	2,111,262		$	1,606,960
Computer equipment	658,031			665,652
Furniture and other equipment	84,509			72,811
Buildings and leasehold improvements	282,865			241,713
Land	129,049			130,812
	3,265,716			2,717,948
Less: accumulated depreciation	(2,055,720		)	(1,575,879		)
Projects in progress ⁽¹⁾	365,262			252,835
Property and equipment, net	$	1,575,258		$	1,394,904

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(1)

At December 31, 2017 and 2016, projects in progress included approximately $111 million and $38 million of project construction costs capitalized pursuant to build-to-suit lease guidance, which were incurred by the landlord, as property and equipment, net with a related construction financing obligation in other long-term liabilities. The building assets will begin depreciating when the costs incurred related to the build out of the office space are complete and ready for their intended use, which is expected to be in 2018.

As of December 31, 2017 and 2016, our recorded capitalized software development costs, net of accumulated amortization, were $735 million and $639 million. For the years ended December 31, 2017, 2016 and 2015, we recorded amortization of capitalized software development costs of $398 million, $300 million and $230 million, most of which is included in technology and content expenses.

During 2015, we acquired our future corporate headquarters for $229 million, consisting of multiple office and lab buildings located in Seattle, Washington. We have subsequently spent approximately $30 million in 2016 and approximately $70 million in 2017 relating to the build out of our headquarters. The acquired building assets and related expenditures are included in construction in process and will begin depreciating when the costs incurred related to the build out of the headquarters are complete and the building assets are ready for their intended use, which we estimate to start at the end of 2019.