Other Balance Sheet Components

12 Months Ended

Dec. 31, 2023

Other Balance Sheet Components [Abstract]

7. Other Balance Sheet Components

Prepaid expenses and other current assets

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


	As of December 31,
	2023		2022
Prepaid expenses	$	48,555	$	45,173
Accrued interest receivable	14,697		6,026
Other current assets	11,297		10,442
Total prepaid expenses and other current assets	$	74,549	$	61,641

Property and equipment, net

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


	As of December 31,
	2023		2022
Servers and related equipment and software	$	914,989	$	741,418
Computer hardware and software licenses	43,732		23,647
Furniture and fixtures	520		446
Leasehold improvements	101,785		69,311
Construction in progress	77,043		24,306
Total property and equipment	1,138,069		859,128
Less accumulated depreciation and amortization	(442,709)		(266,782)
Property and equipment—net	$	695,360	$	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 $188.9 million, $113.7 million, and $64.9 million for years ended December 31, 2023, 2022, and 2021, respectively.

Accrued expenses and other current liabilities

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


	As of December 31,
	2023		2022
Accrued operating expenses	$	51,921	$	80,122
Short term operating lease liabilities	111,293		73,235
Accrued interest on the 2030 Notes	6,458		6,458
Taxes payable	59,632		49,361
Accrued compensation and other employee related liabilities	32,125		21,003
Other current liabilities	9,692		5,827
Total accrued expenses and other current liabilities	$	271,121	$	236,006