Property and Equipment, Net

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of the following:


	As of
	March 31, 2022		December 31, 2021
Data center and other computer equipment	$	632.4	$	634.5
Furniture and fixtures	21.8		21.7
Leasehold improvements	109.0		106.7
Construction in progress	16.5		11.7
Total property and equipment	779.7		774.6
Accumulated depreciation and amortization	(463.6)		(452.6)
Property and equipment, net	$	316.1	$	322.0

During the first quarter of 2022, the Company retired $24.5 million of fully depreciated data center assets that are no longer in use.

The Company leases certain infrastructure, computer equipment, and furniture from various third parties, through equipment finance leases. Infrastructure assets as of March 31, 2022 and December 31, 2021, respectively, included a total of $451.7 million and $469.4 million acquired under finance lease agreements. These leases are capitalized in property and equipment, and the related amortization of assets under finance leases is included in depreciation and amortization expense. The accumulated depreciation of the equipment under finance leases totaled $230.7 million and $237.6 million as of March 31, 2022 and December 31, 2021, respectively.

Depreciation expense related to property and equipment was $35.4 million and $31.5 million for the three months ended March 31, 2022 and 2021, respectively