Property and Equipment, Net

9 Months Ended

Sep. 30, 2022

6. Property and Equipment, Net

Property and equipment, net consists of the following:


	September 30,		December 31,
	2022		2021

	(In thousands)
Computer equipment	$	12,138	$	11,556
Capitalized software		27,288		24,163
Fulfillment equipment		52,131		52,058
Furniture and fixtures		2,757		2,730
Leasehold improvements		32,869		32,507
Buildings⁽¹⁾		114,877		114,877
Construction in process⁽²⁾		2,467		1,746
Property and equipment, gross		244,527		239,637
Less: accumulated depreciation and amortization		(147,181)		(131,282)
Property and equipment, net	$	97,346	$	108,355

(1)

Buildings includes a build-to-suit lease arrangement in Linden, New Jersey where the Company is considered the owner for accounting purposes, and as of September 30, 2022 and December 31, 2021, contained $31.3 million of the capitalized fair value of the building, $80.8 million of costs incurred directly by the Company relating to this arrangement, and $2.8 million of capitalized interest for related construction projects. The Company capitalized the cost of interest for the related construction projects based on the applicable capitalization rate for the project.

(2)	Construction in process includes all costs capitalized related to projects that have not yet been placed in service.