v3.24.0.1

Balance Sheet Components | 12 Months Ended
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Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | BALANCE SHEET COMPONENTS Accounts Receivable, net: Accounts receivable, net consisted of the following (in thousands):
| As of December 31,
| 2023 |  | 2022
Accounts receivable, gross | $ | 850,464 |  |  | $ | 800,984 |
Less: Allowances |  |  |
Allowance for sales returns | 7,808 |  |  | 7,417 |
Allowance for sales incentives | 23,024 |  |  | 28,903 |
Allowance for doubtful accounts | 2,213 |  |  | 3,498 |
Other allowances | 1,082 |  |  | 373 |
Total allowances | 34,127 |  |  | 40,191 |
Accounts receivable, net | $ | 816,337 |  |  | $ | 760,793 |
Property and Equipment, net: Property and equipment, net consisted of the following (in thousands):
| As of December 31,
| 2023 |  | 2022
Computers and equipment | $ | 51,320 |  |  | $ | 45,989 |
Leasehold improvements | 292,418 |  |  | 353,245 |
Internal-use software | 6,980 |  |  | 7,274 |
Office equipment and furniture | 36,900 |  |  | 28,614 |
Property and equipment, gross | 387,618 |  |  | 435,122 |
Accumulated depreciation and amortization | (123,062) |  |  | (100,091) |
Property and equipment, net | $ | 264,556 |  |  | $ | 335,031 |
Depreciation and amortization expense for property and equipment assets for the years ended December 31, 2023, 2022, and 2021 was $53.3 million, $31.0 million, and $25.4 million, respectively. During the year ended December 31, 2023, the Company recognized an impairment charge of $72.3 million related to property and equipment associated with the leased office facilities that are part of its restructuring efforts. See Note 17 for additional details. Accrued Liabilities: Accrued liabilities consisted of the following (in thousands):
| As of December 31,
| 2023 |  | 2022
Payments due to content partners | $ | 239,196 |  |  | $ | 201,054 |
Accrued cost of revenue | 147,875 |  |  | 105,347 |
Marketing, retail and merchandising expenses | 147,853 |  |  | 163,367 |
Operating lease liability, current | 68,099 |  |  | 54,689 |
Content liability, current | 54,319 |  |  | 88,717 |
Other accrued expenses | 130,698 |  |  | 137,636 |
Total Accrued liabilities | $ | 788,040 |  |  | $ | 750,810 |
Deferred Revenue: Deferred revenue consisted of the following (in thousands):
| As of December 31,
| 2023 |  | 2022
Platform, current | $ | 66,636 |  |  | $ | 59,276 |
Devices, current | 35,521 |  |  | 28,402 |
Total deferred revenue, current | 102,157 |  |  | 87,678 |
Platform, non-current | 625 |  |  | 969 |
Devices, non-current | 23,947 |  |  | 27,241 |
Total deferred revenue, non-current | 24,572 |  |  | 28,210 |
Total Deferred revenue | $ | 126,729 |  |  | $ | 115,888 |
Other Long-term Liabilities: Other Long-term liabilities consisted of the following (in thousands):
| As of December 31,
| 2023 |  | 2022
Content liability, non-current | $ | 24,115 |  |  | $ | 39,587 |
Other long-term liabilities | 25,071 |  |  | 30,324 |
Total Other long-term liabilities | $ | 49,186 |  |  | $ | 69,911 |

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