Other Balance Sheet Components

6 Months Ended

Jun. 30, 2023

Other Balance Sheet Components [Abstract]

8. Other Balance Sheet Components

Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	As of
	June 30, 2023		December 31, 2022
Prepaid expenses	$	49,410	$	45,173
Accrued interest receivable	11,032		6,026
Other current assets	8,665		10,442
Total prepaid expenses and other current assets	$	69,107	$	61,641

Property and equipment, net

Property and equipment, net, consisted of the following (in thousands):


	As of
	June 30, 2023		December 31, 2022
Servers and related equipment and software	$	880,753	$	741,418
Computer hardware and software licenses	37,803		23,647
Furniture and fixtures	374		446
Leasehold improvements	90,872		69,311
Construction in progress	30,693		24,306
Total property and equipment	1,040,495		859,128
Less accumulated depreciation and amortization	(355,761)		(266,782)
Property and equipment—net	$	684,734	$	592,346

Construction in progress primarily relates to leasehold improvements for the Company’s leased office buildings and network equipment infrastructure to support the Company’s data centers.

Depreciation and amortization expense of property and equipment was $48.1 million and $91.0 million for the three and six months ended June 30, 2023, respectively, and $25.0 million and $45.7 million for the three and six months ended June 30, 2022, respectively.

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	As of
	June 30, 2023		December 31, 2022
Accrued operating expenses	$	49,277	$	80,122
Short term operating lease liabilities	92,830		73,235
Accrued interest on the 2030 Notes	6,458		6,458
Taxes payable	45,822		49,361
Accrued compensation and other employee related liabilities	10,953		21,003
Other current liabilities	10,933		5,827
Total accrued expenses and other current liabilities	$	216,273	$	236,006