Balance Sheet Components

Content Assets

Content assets consisted of the following:



	As of
	June 30, 2016		December 31, 2015
	(in thousands)
Licensed content, net	$	8,349,966	$	6,827,119

Produced content, net
Released, less amortization	165,006		61,515
In production	529,077		279,013
In development	21,411		24,651
	715,494		365,179
DVD, net	26,740		26,517
Total	$	9,092,200	$	7,218,815

Current content assets, net	$	3,349,262	$	2,905,998
Non-current content assets, net	$	5,742,938	$	4,312,817

Produced content is included in "Non-current content assets, net" on the Consolidated Balance Sheets. Certain original content, such as House of Cards, is licensed and therefore not included in produced content. Of the produced content that has been released, approximately 32% and 83%, is expected to be amortized over the next twelve and thirty-six months, respectively. The amount of accrued participations and residuals to be paid during the next twelve months is immaterial.

Property and Equipment, Net

Property and equipment and accumulated depreciation consisted of the following:



	As of
	June 30, 2016			December 31, 2015			Estimated Useful Lives
	(in thousands)
Information technology assets	$	198,855		$	194,054		3 years
Furniture and fixtures	31,330			30,914			3 years
Building	40,681			40,681			30 years
Leasehold improvements	108,274			107,793			Over life of lease
DVD operations equipment	82,796			88,471			5 years
Capital work-in-progress	12,273			8,845
Property and equipment, gross	474,209			470,758
Less: Accumulated depreciation	(311,345		)	(297,346		)
Property and equipment, net	$	162,864		$	173,412