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Balance Sheet Components (Tables)
12 Months Ended
Dec. 31, 2019
Balance Sheet Components Disclosure [Abstract]  
Content Assets
Content assets consisted of the following:
 
As of December 31,
 
2019
 
2018
 
(in thousands)
 
 
 
 
Licensed content, net
$
14,703,352

 
$
14,081,463

Produced content, net
 
 
 
Released, less amortization
4,382,685

 
2,403,896

In production
4,750,664

 
3,305,126

In development and pre-production
667,866

 
311,842

 
9,801,215

 
6,020,864

 
 
 
 
Total
$
24,504,567

 
$
20,102,327

 
 
 
 
Current content assets, net
$

 
$
5,151,186

Non-current content assets, net
$
24,504,567

 
$
14,951,141


Schedule of Amortization of Streaming Content Assets
The following table represents the amortization of streaming content assets:
 
Year ended December 31,
 
2019
 
2018
 
2017
 
(in thousands)
Licensed content
$
7,242,799

 
$
6,511,689

 
$
5,680,373

Produced content
1,973,448

 
1,020,399

 
517,444

Total streaming content
$
9,216,247

 
$
7,532,088

 
$
6,197,817





















Property and Equipment, Net
Property and equipment and accumulated depreciation consisted of the following:
 
 
As of December 31,
 
Estimated Useful Lives (in Years)
 
 
2019
 
2018
 
 
 
(in thousands)
 
 
Land
 
$
6,125

 
$
6,125

 
 
Buildings
 
33,141

 
73,468

 
30 years
Leasehold improvements
 
354,999

 
282,028

 
Over life of lease
Furniture and fixtures
 
87,465

 
63,667

 
3-15 years
Information technology
 
243,565

 
224,296

 
3 years
Corporate aircraft
 
108,995

 
62,560

 
8 years
Machinery and equipment
 
46,415

 
55,108

 
3-5 years
Capital work-in-progress
 
100,521

 
19,548

 
 
Property and equipment, gross
 
981,226

 
786,800

 
 
Less: Accumulated depreciation
 
(416,005
)
 
(368,519
)
 
 
Property and equipment, net
 
$
565,221

 
$
418,281

 
 

Information on Right-of-Use Assets and Lease Liabilities
Information related to the Company's right-of-use assets and related lease liabilities were as follows:
 
Year ended December 31,
 
2019
 
(in thousands)
Cash paid for operating lease liabilities
$
192,084

Right-of-use assets obtained in exchange for new operating lease obligations (1)
1,672,462

(1) Balance includes $743 million for operating leases existing on January 1, 2019.
 
As of
 
December 31, 2019
 
 
Weighted-average remaining lease term
8.8 years

Weighted-average discount rate
5.0
%

Maturities of Lease Liabilities
Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands):
Due in 12 month period ended December 31,
2020
$
248,636

2021
246,148

2022
226,020

2023
211,387

2024
194,506

Thereafter
912,457

 
2,039,154

Less imputed interest
(425,920
)
Total lease liabilities
1,613,234

 
 
Current operating lease liabilities
190,622

Non-current operating lease liabilities
1,422,612

Total lease liabilities
$
1,613,234


Other Current Assets
Other current assets consisted of the following:
 
 
As of
 
 
December 31,
2019
 
December 31,
2018
 
 
(in thousands)
Trade receivables
 
$
454,399

 
$
362,712

Prepaid expenses
 
180,999

 
178,833

Other receivables
 
524,669

 
206,921

Total other current assets
 
$
1,160,067

 
$
748,466