Property and Equipment, Net

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

NOTE 6 — Property and Equipment, Net

Our property and equipment consists of the following:



	December 31,
	2016			2015
	(In thousands)
Capitalized software development	$	1,606,960		$	1,220,822
Computer equipment	665,652			485,074
Furniture and other equipment	72,811			65,939
Buildings and leasehold improvements	241,713			199,604
Land	130,812			130,725
	2,717,948			2,102,164
Less: accumulated depreciation	(1,575,879		)	(1,201,744		)
Projects in progress ⁽¹⁾	252,835			163,839
Property and equipment, net	$	1,394,904		$	1,064,259

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(1)

At December 31, 2016, project in progress included approximately $38 million of project construction costs that were incurred by the landlord as property and equipment, net with a related construction financing obligation in other long-term liabilities pursuant to build-to-suit lease guidance. The building assets will begin depreciating when the costs incurred related to the build out of the office space are complete and ready for their intended use, which is expected to be in 2018.

As of December 31, 2016 and 2015, our recorded capitalized software development costs, net of accumulated amortization, were $639 million and $484 million. For the years ended December 31, 2016, 2015 and 2014, we recorded amortization of capitalized software development costs of $300 million, $230 million and $185 million, most of which is included in technology and content expenses.

During 2015, we acquired our future corporate headquarters for $229 million, consisting of multiple office and lab buildings located in Seattle, Washington. The acquired building assets are included in construction in process and will begin depreciating when the costs incurred related to the build out of the headquarters are complete and the building assets are ready for their intended use.