Balance Sheet Components

Content Assets

Content assets consisted of the following:



	As of December 31,
	2016		2015
	(in thousands)

Licensed content, net	$	9,595,315	$	6,827,119

Produced content, net
Released, less amortization	335,400		61,515
In production	1,010,463		279,013
In development	34,215		24,651
	1,380,078		365,179
DVD, net	25,415		26,517
Total	$	11,000,808	$	7,218,815

Current content assets, net	$	3,726,307	$	2,905,998
Non-current content assets, net	$	7,274,501	$	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 28% and 81%, 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 not material.

Property and Equipment, Net

Property and equipment and accumulated depreciation consisted of the following:



	As of December 31,						Estimated Useful Lives (in Years)
	2016			2015			Estimated Useful Lives (in Years)
	(in thousands)
Information technology assets	$	185,345		$	194,054		3 years
Furniture and fixtures	32,185			30,914			3 years
Building	40,681			40,681			30 years
Leasehold improvements	107,945			107,793			Over life of lease
DVD operations equipment	70,152			88,471			5 years
Capital work-in-progress	108,296			8,845
Property and equipment, gross	544,604			470,758
Less: Accumulated depreciation	(294,209		)	(297,346		)
Property and equipment, net	$	250,395		$	173,412

The increase in capital work-in-progress is primarily due to leasehold improvements for the Company's expanded Los Gatos, California headquarters and the Company's new Los Angeles, California facility, both of which will be placed into operation in the first half of 2017.