Property and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and equipment, net consists of the following:


	December 31,
	2020		2019
	(in thousands)
Land and land improvements	$	286,706	$	223,877
Buildings, building improvements, and leasehold improvements	532,938		435,214
Substation equipment	19,780		19,780
Data center equipment	1,230,623		1,021,056
Vehicles	1,974		1,732
Core network equipment	37,327		36,572

Fiber facilities	14,441		13,180
Computer equipment, furniture and fixtures	42,243		39,057
Finance lease ROU assets	72,951		72,569
Construction in progress	198,355		254,750
Property and equipment, gross	2,437,338		2,117,787
Less: accumulated depreciation and amortization	(699,923)		(566,670)
Property and equipment, net	$	1,737,415	$	1,551,117

Accumulated amortization for finance lease ROU assets totaled $14.3 million and $11.7 million as of December 31, 2020 and 2019, respectively.

During the years ended December 31, 2020, 2019, and 2018, capitalized interest was $4.3 million, $5.8 million, and $4.9 million, respectively.

In May 2020, the Company purchased approximately two acres of land in Las Vegas, Nevada for $2.5 million from an entity in which a member of its Board of Directors has a beneficial ownership interest.

Total depreciation and amortization of property and equipment recognized on the consolidated statements of comprehensive income was as follows:


	Years Ended December 31,
	2020		2019		2018
	(in thousands)
Cost of revenue	$	138,019	$	116,274	$	104,095
Selling, general and administrative expense	4,719		3,671		2,571
Total depreciation and amortization of property and equipment	$	142,738	$	119,945	$	106,666