Property and Equipment, Net

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property and equipment, net consists of the following:


	March 31,		December 31,
	2022		2021
	(in thousands)
Land and land improvements	$	322,974	$	322,808
Buildings, building improvements, and leasehold improvements	699,055		695,378
Substation equipment	19,780		19,780
Data center equipment	1,589,574		1,559,241
Vehicles	2,105		2,045
Core network equipment	45,103		43,086

Fiber facilities	14,825		14,647
Computer equipment, furniture and fixtures	53,692		53,194
Finance lease right-of-use assets	75,933		75,933
Construction in progress	410,474		319,623
Property and equipment, gross	3,233,515		3,105,735
Less: accumulated depreciation and amortization	(916,107)		(868,676)
Property and equipment, net	$	2,317,408	$	2,237,059

Accumulated amortization for finance lease right-of-use assets totaled $17.2 million and $16.7 million as of March 31, 2022 and December 31, 2021, respectively.

During the three months ended March 31, 2022 and 2021, capitalized interest was $2.7 million and $1.3 million, respectively.

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


	Three Months Ended March 31,
	2022		2021
	(in thousands)
Cost of revenue	$	46,438	$	37,729
Selling, general and administrative expense	1,395		1,062
Total depreciation and amortization of property and equipment	$	47,833	$	38,791