Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2020

Content assets consisted of the following:



	As of
	June 30, 2020		December 31, 2019
	(in thousands)
Licensed content, net	$	14,632,723	$	14,703,352

Produced content, net
Released, less amortization	5,034,139		4,382,685
In production	4,717,598		4,750,664
In development and pre-production	770,657		667,866
	10,522,394		9,801,215

Total	$	25,155,117	$	24,504,567

The following table represents the amortization of content assets:

Property and equipment and accumulated depreciation consisted of the following:



	As of
	June 30, 2020			December 31, 2019			Estimated Useful Lives
	(in thousands)
Land	$	13,560		$	6,125
Buildings	41,896			33,141			30 years
Leasehold improvements	378,345			354,999			Over life of lease
Furniture and fixtures	93,092			87,465			3-15 years
Information technology	258,875			243,565			3 years
Corporate aircraft	109,641			108,995			8 years
Machinery and equipment	43,863			46,415			3-5 years
Capital work-in-progress	272,875			100,521
Property and equipment, gross	1,212,147			981,226
Less: Accumulated depreciation	(460,206		)	(416,005		)
Property and equipment, net	$	751,941		$	565,221

Information related to the Company's right-of-use assets and related lease liabilities were as follows:



	Three Months Ended
	June 30, 2020		June 30, 2019
	(in thousands)
Cash paid for operating lease liabilities	$	59,473	$	41,320
Right-of-use assets obtained in exchange for new operating lease obligations	364,606		230,499



	Six Months Ended
	June 30, 2020		June 30, 2019
	(in thousands)
Cash paid for operating lease liabilities	$	116,963	$	78,973
Right-of-use assets obtained in exchange for new operating lease obligations (1)	416,430		1,072,894

(1) In the six months ended June 30, 2019, the balance includes $743 million for operating leases existing on January 1, 2019.

Other current assets consisted of the following: