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Property and Equipment, Net | 6 Months Ended
--- | ---
Jun. 30, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net consisted of the following:
| As of
| June 30, 2024 |  | December 31, 2023
Datacenter and other computer equipment | $ | 837.9 |  |  | $ | 783.2 |
Furniture and fixtures | 11.7 |  |  | 11.6 |
Leasehold improvements | 101.4 |  |  | 96.1 |
Construction in progress | 4.3 |  |  | 4.6 |
Total property and equipment | 955.3 |  |  | 895.5 |
Accumulated depreciation and amortization | (631.6) |  |  | (586.3) |
Property and equipment, net | $ | 323.7 |  |  | $ | 309.2 |
The Company leases certain infrastructure, computer equipment, and furniture from various third parties, through equipment finance leases. Infrastructure assets as of June 30, 2024 and December 31, 2023 included a total of $470.9 million and $457.4 million, respectively, 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 $235.6 million and $234.7 million as of June 30, 2024 and December 31, 2023, respectively. Depreciation expense related to property and equipment was $25.9 million and $50.7 million for the three and six months ended June 30, 2024, respectively, and $35.2 million and $70.1 million for the three and six months ended June 30, 2023, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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