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Balance Sheet Components
 9 Months Ended
Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components Balance Sheet Components
Content Assets, Net
Content assets consisted of the following:
As of
September 30,
2023		December 31,
2022
(in thousands)
Licensed content, net
$12,459,413 $12,732,549 
Produced content, net
Released, less amortization
9,433,878 9,110,518 
In production
9,052,140 10,255,940 
In development and pre-production
804,430 637,706 
19,290,448 20,004,164 

Content assets, net
$31,749,861 $32,736,713 

As of September 30, 2023, approximately $5,575 million, $2,812 million, and $1,888 million of the $12,459 million unamortized cost of the licensed content is expected to be amortized in each of the next three years.  As of September 30, 2023, approximately $3,594 million, $2,493 million, and $1,744 million of the $9,434 million unamortized cost of the produced content that has been released is expected to be amortized in each of the next three years.
As of September 30, 2023, the amount of accrued participations and residuals was not material.
The following tables represent the amortization of content assets:
Three Months Ended
 September 30,
2023		September 30,
2022
(in thousands)
Licensed content$1,777,701 $1,967,720 
Produced content1,795,652 1,685,872 
Total$3,573,353 $3,653,592 

Nine Months Ended
 September 30,
2023		September 30,
2022
(in thousands)
Licensed content$5,280,700 $5,751,940 
Produced content5,162,658 4,329,365 
Total$10,443,358 $10,081,305 
Property and Equipment, Net
Property and equipment and accumulated depreciation consisted of the following:
As of
September 30,
2023		December 31,
2022		Estimated Useful Lives
(in thousands)
Land
$86,662 $85,005 
Buildings
104,593 52,106 30 years
Leasehold improvements
1,053,681 1,040,570 Over life of lease
Furniture and fixtures
155,184 153,682 
3 years
Information technology
462,303 442,681 3 years
Corporate aircraft
133,998 115,578 
8-10 years
Machinery and equipment
27,362 26,821 
3-5 years
Capital work-in-progress
377,299 235,555 
Property and equipment, gross
2,401,082 2,151,998 
Less: Accumulated depreciation
(902,691)(753,741)
Property and equipment, net
$1,498,391 $1,398,257 


Leases
The Company has entered into operating leases primarily for real estate. Operating leases are included in "Other non-current assets" on the Company's Consolidated Balance Sheets, and represent the Company’s right to use the underlying asset for the lease term. The Company’s obligations to make lease payments are included in "Accrued expenses and other liabilities" and "Other non-current liabilities" on the Company's Consolidated Balance Sheets.
Information related to the Company's operating right-of-use assets and related operating lease liabilities were as follows:
Three Months Ended
September 30,
2023		September 30,
2022
(in thousands)
Cash paid for operating lease liabilities$110,959 $105,848 
Right-of-use assets obtained in exchange for new operating lease obligations49,238 2,938 

Nine Months Ended
September 30,
2023		September 30,
2022
(in thousands)
Cash paid for operating lease liabilities$339,126 $308,747 
Right-of-use assets obtained in exchange for new operating lease obligations161,704 183,540 
As of
September 30,
2023		December 31,
2022
(in thousands)
Operating lease right-of-use assets, net$2,124,501 $2,227,122 
Current operating lease liabilities377,400 355,985 
Non-current operating lease liabilities2,086,480 2,222,503 
Total operating lease liabilities$2,463,880 $2,578,488 
Other Current Assets
Other current assets consisted of the following:
As of
September 30,
2023		December 31,
2022
(in thousands)
Trade receivables
$1,139,974 $988,898 
Prepaid expenses
482,375 392,735 
Other
1,289,679 1,826,388 
Total other current assets
$2,912,028 $3,208,021 
The decrease in Other was primarily driven by receipt of amounts due under a modified content licensing arrangement.