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v3.23.2

Property and Equipment, Net | 6 Months Ended
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Jun. 30, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):
| June 30, 2023 |  | December 31, 2022
Data center equipment | $ | 34,195 |  |  | $ | 28,531 |
Leased and financed data center equipment | 67,014 |  |  | 62,300 |
Machinery and equipment | 15,814 |  |  | 11,613 |
Computer equipment | 2,373 |  |  | 2,503 |
Leasehold improvements | 1,072 |  |  | 1,268 |
Construction-in-progress | 987 |  |  | 3,636 |
Total property and equipment | 121,455 |  |  | 109,851 |
Less: accumulated depreciation | (69,874) |  |  | (60,476) |
Total property and equipment, net | $ | 51,581 |  |  | $ | 49,375 |
Depreciation expense was $5.3 million and $4.0 million for the three months ended June 30, 2023 and 2022, respectively, and was $10.3 million and $8.3 million for the six months ended June 30, 2023 and 2022, respectively. For the Company’s equipment under finance leases and lease financing obligations, accumulated depreciation was $28.9 million and $24.5 million as of June 30, 2023 and December 31, 2022, respectively. The carrying value of the Company’s equipment under finance lease agreements and lease financing obligations was $38.1 million and $37.8 million as of June 30, 2023 and December 31, 2022, respectively. As of June 30, 2023, the Company had long-lived assets of $57.3 million, comprising of property and equipment, net and operating lease right-of-use assets, with $52.3 million located in the United States and $5.0 million located in the Netherlands. As of December 31, 2022, the Company had long-lived assets of $56.3 million, comprising of property and equipment, net and operating lease right-of-use assets, with $50.2 million located in the United States and $6.1 million located in the Netherlands.

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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