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Balance Sheet Components
 12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
Cash, and Cash Equivalents
Cash and cash equivalents consisted of the following as of December 31 (in thousands):
20222021
Cash and cash equivalents:
Cash$1,141,793 $950,677 
Cash equivalents:
Money market funds764,628 585,681 
Total cash and cash equivalents$1,906,421 $1,536,358 

As of December 31, 2022 and 2021, cash and cash equivalents included investments which were readily convertible to cash and had original maturity dates of 90 days or less.
Accounts Receivable
Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. Accounts receivable, net, consisted of the following as of December 31 (in thousands):
20222021
Accounts receivable$867,605 $693,444 
Allowance for credit losses(12,225)(11,635)
Accounts receivable, net$855,380 $681,809 
The following table summarizes the activity of our allowance for credit losses (in thousands):
Balance as of December 31, 2019$13,026 
Adjustments due to adoption of ASU 2016-13900 
Provision for credit losses5,069 
Net write-offs(10,050)
Impact of foreign currency exchange1,732 
Balance as of December 31, 202010,677 
Provision for credit losses10,016 
Net write-offs(8,295)
Impact of foreign currency exchange(763)
Balance as of December 31, 202111,635 
Provision for credit losses7,426 
Net write-offs(6,356)
Impact of foreign currency exchange(480)
Balance as of December 31, 2022$12,225 
Other Current Assets
Other current assets consisted of the following as of December 31 (in thousands):
20222021
Prepaid expenses$79,191 $65,224 
Taxes receivable122,166 128,123 
Restricted cash, current1,734 12,188 
Other receivables109,948 59,224 
Derivative instruments105,693 117,432 
Contract assets, current27,608 65,392 
Other current assets 12,798 15,156 
Total other current assets$459,138 $462,739 

Property, Plant and Equipment, Net
Property, plant and equipment, net consisted of the following as of December 31 (in thousands):
20222021
Core systems$11,616,863 $10,808,417 
Buildings8,013,672 7,381,644 
Leasehold improvements1,991,060 2,022,617 
Construction in progress1,195,042 967,562 
Personal property (1)
1,912,861 1,551,642 
Land1,252,993 970,982 
25,982,491 23,702,864 
Less accumulated depreciation(9,332,957)(8,257,089)
Property, plant and equipment, net$16,649,534 $15,445,775 
(1)Personal property included $1.6 billion and $1.2 billion of capitalized internal-use software as of December 31, 2022 and 2021, respectively.
Goodwill and Other Intangibles
The following table presents goodwill and other intangible assets, net, for the years ended December 31, 2022 and 2021 (in thousands):
20222021
Goodwill:
Americas$2,630,752 $2,210,009 
EMEA2,377,921 2,472,586 
Asia-Pacific645,544 689,476 
$5,654,217 $5,372,071 
Intangible assets, net:
Intangible assets - customer relationships$2,885,152 $2,841,372 
Intangible assets - trade names14,719 11,471 
Intangible assets - in-place leases22,183 32,760 
Intangible assets - licenses9,697 9,697 
Intangible assets - at-the-money lease contracts
56,822 60,455 
Intangible assets - other8,029 12,546 
2,996,602 2,968,301 
Accumulated amortization - customer relationships(1,056,844)(987,462)
Accumulated amortization - trade names(4,561)(3,207)
Accumulated amortization - in-place leases(15,797)(22,847)
Accumulated amortization - licenses(6,467)(5,821)
Accumulated amortization - at the money lease contracts(10,056)(5,553)
Accumulated amortization - other (5,228)(8,144)
(1,098,953)(1,033,034)
Total intangible assets, net$1,897,649 $1,935,267 

Changes in the carrying amount of goodwill by geographic regions are as follows (in thousands):
AmericasEMEAAsia-PacificTotal
Balance as of December 31, 2020$2,212,782 $2,611,166 $648,605 $5,472,553 
Purchase of GPX— — 77,162 77,162 
Impact of foreign currency exchange(2,773)(138,580)(36,291)(177,644)
Balance as of December 31, 2021$2,210,009 $2,472,586 $689,476 $5,372,071 
Purchase of MainOne— 110,648 — 110,648 
Purchase of Entel Chile380,867 — — 380,867 
Purchase of Entel Peru46,285 — — 46,285 
Impact of foreign currency exchange(6,409)(205,313)(43,932)(255,654)
Balance as of December 31, 2022$2,630,752 $2,377,921 $645,544 $5,654,217 
Changes in the net book value of intangible assets by geographic regions are as follows (in thousands):
AmericasEMEAAsia-PacificTotal
Balance as of December 31, 2019$1,443,292 $466,564 $192,533 $2,102,389 
Axtel acquisition22,750 — — 22,750 
Packet acquisition58,500 — — 58,500 
Bell acquisition75,631 — — 75,631 
Other asset acquisition— 64,905 — 64,905 
Amortization of intangibles(133,608)(49,417)(16,022)(199,047)
Impact of foreign currency exchange(3,476)35,975 13,318 45,817 
Balance as of December 31, 20201,463,089 518,027 189,829 2,170,945 
GPX acquisition— — 15,472 15,472 
Amortization of intangibles(133,289)(55,807)(16,388)(205,484)
Impact of foreign currency exchange(2,047)(30,278)(13,341)(45,666)
Balance as of December 31, 20211,327,753 431,942 175,572 1,935,267 
Entel Chile acquisition153,489 — — 153,489 
Entel Peru acquisition10,000 — — 10,000 
MainOne acquisition— 54,800 — 54,800 
Amortization of intangibles(137,358)(52,283)(15,114)(204,755)
Impact of foreign currency exchange(3,570)(33,052)(14,530)(51,152)
Balance as of December 31, 2022$1,350,314 $401,407 $145,928 $1,897,649 

Goodwill and intangible assets which are denominated in currencies other than the U.S. Dollar are subject to foreign currency fluctuations. Our foreign currency translation gains and losses, including goodwill and intangibles, are a component of other comprehensive income and loss.
Estimated future amortization expense related to these intangibles is as follows (in thousands):
Years ending:
2023$206,596 
2024205,550 
2025203,259 
2026202,658 
2027201,711 
Thereafter877,875 
Total$1,897,649 
Other Assets
Other assets consisted of the following as of December 31 (in thousands):
20222021
Deferred tax assets, net$44,628 $59,816 
Prepaid expenses (1)
150,617 87,758 
Debt issuance costs, net6,831 2,130 
Deposits64,337 70,548 
Restricted cash93 908 
Derivative instruments298,899 59,917 
Contract assets, non-current55,405 55,486 
Contract costs371,306 325,510 
Equity method investments348,145 245,049 
Other assets 35,876 18,944 
Total other assets$1,376,137 $926,066 
(1)Prepaid expenses included $84.2 million and $46.0 million of capitalized CCA implementation costs, net as of December 31, 2022 and 2021, respectively.

Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consisted of the following as of December 31 (in thousands):
20222021
Accounts payable$115,953 $84,084 
Accrued compensation and benefits413,135 364,783 
Accrued interest85,052 81,893 
Accrued taxes (1)
131,376 117,061 
Accrued utilities and security115,119 94,251 
Accrued other144,165 137,072 
Total accounts payable and accrued expenses$1,004,800 $879,144 
(1)Accrued taxes included income taxes payable of $55.2 million and $51.3 million as of December 31, 2022 and 2021, respectively.
Other Current Liabilities
Other current liabilities consisted of the following as of December 31 (in thousands):
20222021
Deferred revenue, current$132,090 $109,736 
Customer deposits15,896 16,380 
Derivative instruments24,868 13,373 
Dividends payable, current12,302 12,027 
Asset retirement obligations8,657 8,756 
Other current liabilities57,533 54,247 
Total other current liabilities$251,346 $214,519 
Other Liabilities
Other liabilities consisted of the following as of December 31 (in thousands):
20222021
Asset retirement obligations$109,508 $108,800 
Deferred tax liabilities, net383,359 340,287 
Deferred revenue, non-current155,334 87,495 
Accrued taxes59,806 124,032 
Dividends payable, non-current10,446 9,750 
Customer deposits4,998 1,534 
Derivative instruments8,820 20,899 
Other liabilities65,592 70,614 
Total other liabilities$797,863 $763,411 

The following table summarizes the activities of our asset retirement obligation ("ARO") (in thousands):
Asset retirement obligations as of December 31, 2019$102,415 
Additions5,909 
Adjustments (1)
(4,241)
Accretion expense6,331 
Impact of foreign currency exchange3,355 
Asset retirement obligations as of December 31, 2020113,769 
Additions7,483 
Adjustments (1)
(6,591)
Accretion expense6,518 
Impact of foreign currency exchange(3,623)
Asset retirement obligations as of December 31, 2021117,556 
Additions 2,951 
Adjustments (1)
(4,281)
Accretion expense6,431 
Impact of foreign currency exchange(4,492)
Asset retirement obligations as of December 31, 2022$118,165 
(1)The ARO adjustments are primarily due to lease amendments and acquisition of real estate assets, as well as other adjustments.