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Property and Equipment, Net
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following:

As of
September 30, 2025December 31, 2024
Datacenter and other computer equipment$798.0 $830.2 
Furniture and fixtures9.3 10.7 
Leasehold improvements95.1 101.9 
Construction in progress28.8 0.2 
Total property and equipment931.2 943.0 
Accumulated depreciation(553.9)(584.2)
Property and equipment, net$377.3 $358.8 

The Company leases certain infrastructure and computer equipment from various third parties, through equipment finance leases. Infrastructure assets as of September 30, 2025 and December 31, 2024 included a total of $463.7 million and $501.1 million, respectively, of assets acquired under finance lease agreements. These leases are capitalized in property and equipment, and the related depreciation of assets under finance leases is included in depreciation expense. The accumulated depreciation of the equipment under finance leases totaled $188.5 million and $223.3 million as of September 30, 2025 and December 31, 2024, respectively.

Depreciation expense related to property and equipment was $33.1 million and $97.4 million for the three and nine months ended September 30, 2025, respectively and $27.9 million and $78.5 million for the three and nine months ended September 30, 2024, respectively.