Balance Sheet Components

Content Library

Content library consisted of the following:



	As of
	March 31, 2012									December 31, 2011
	Streaming			DVD			Total			Streaming			DVD			Total
	(in thousands)
Total content library, gross	$	3,166,320		$	580,507		$	3,746,827		$	2,552,284		$	599,155		$	3,151,439
Accumulated amortization	(821,149		)	(543,961		)	(1,365,110		)	(632,270		)	(552,526		)	(1,184,796		)
Total content library, net	2,345,171			36,546			2,381,717			1,920,014			46,629			1,966,643
Current content library, net	1,155,443			—			1,155,443			919,709			—			919,709
Non-current content library, net	$	1,189,728		$	36,546		$	1,226,274		$	1,000,305		$	46,629		$	1,046,934

Content Liabilities

Content liabilities consisted of the following:



	As of
	March 31, 2012						December 31, 2011
	Streaming		DVD		Total		Streaming		DVD		Total
	(in thousands)
Content liabilities	$	1,144,789	$	19,050	$	1,163,839	$	915,796	$	19,240	$	935,036
Non-current content liabilities	908,188		—		908,188		739,628		—		739,628
Total content liabilities	$	2,052,977	$	19,050	$	2,072,027	$	1,655,424	$	19,240	$	1,674,664

The Company typically enters into multi-year licenses with studios and other distributors that may result in an increase in the content library and a corresponding increase in current and non-current content liabilities. The payment terms for these license fees may extend over the term of the license agreement, which typically ranges from six months to five years. As of March 31, 2012, total content liabilities increased $397.4 million, over December 31, 2011, as compared to an increase in total content library, net, of $415.1 million.

Property and Equipment, Net

Property and equipment and accumulated depreciation consisted of the following:



		As of
		March 31, 2012			December 31, 2011
		(in thousands)
Computer equipment	3 years	$	65,771		$	67,090
Operations and other equipment	5 years	100,307			100,306
Software, including internal-use software	3 years	36,313			35,356
Furniture and fixtures	3 years	17,509			17,310
Buildings	30 years	40,681			40,681
Leasehold improvements	Over life of lease	45,237			44,473
Capital work-in-progress		466			822
Property and equipment, gross		306,284			306,038
Less: Accumulated depreciation		(178,087		)	(169,685		)
Property and equipment, net		$	128,197		$	136,353