Property, buildings and equipment, net consisted of the following (in thousands):


	As of
	December 31,			December 31,
	2024			2023
Buildings and improvements	$	424,542		$	446,799
Land and land improvements		50,626			81,246
Furniture and fixtures		118,086			108,693
Office, computer and other equipment		267,372			233,242
Construction in progress		48,483			29,029
		909,109			899,009
Less: accumulated depreciation		(279,205	)		(205,976	)
Total Property, buildings and equipment, net	$	629,904		$	693,033

Depreciation expense for property, buildings and equipment totaled $93.2 million, $48.1 million and $27.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.

During the second quarter of 2024, the Company reclassified cost and accumulated depreciation of $53.4 million and $5.6 million, respectively, related to property, buildings and equipment associated with the previous WWE media production center in Stamford, Connecticut as held for sale, as the Company moved media production to the new WWE headquarters. During the year ended December 31, 2024, the Company recognized impairment charges of $27.9 million within the WWE segment as a result of reducing the carrying value of assets held for sale to their fair value less cost to sell, which is included as a component of selling, general and administrative expenses within the Company’s combined statements of operations. The Company received net proceeds of $28.0 million upon completion of the sale of these assets during the fourth quarter of 2024.


	Balance at		Charged to									Balance at
	Beginning		Costs and						Foreign			End of
	of Year		Expenses			Deductions			Exchange			Year
Allowance for doubtful accounts
Year Ended December 31, 2024	$	22,537	$	4,063		$	(5,354	)	$	(607	)	$	20,639
Year Ended December 31, 2023	$	18,108	$	10,833		$	(6,948	)	$	544		$	22,537
Year Ended December 31, 2022	$	22,744	$	7,417		$	(11,035	)	$	(1,018	)	$	18,108

Deferred tax valuation allowance
Year Ended December 31, 2024	$	16,166	$	20,547		$	—		$	(97	)	$	36,616
Year Ended December 31, 2023	$	536	$	15,639		$	—		$	(9	)	$	16,166
Year Ended December 31, 2022	$	2,504	$	(197	)	$	(1,770	)	$	(1	)	$	536

The following table presents the Company’s unamortized content costs, which are included as a component of other assets in the combined balance sheets (in thousands):


	Predominantly Monetized Individually				Predominantly Monetized as a Film Group
	As of December 31,				As of December 31,
	2024		2023		2024		2023
Licensed and acquired program rights	$	—	$	—	$	24,646	$	21,413
Produced programming:
In release		24		1,410		1,655		2,081
Completed but not released		3		2,045		—		115
In production		949		1,350		920		819
In development		8		—		—		—
Total film and television costs	$	984	$	4,805	$	27,221	$	24,428

As of December 31, 2024, substantially all of the "in release" and “completed but not released” content costs that are monetized individually are estimated to be amortized over the next 12 months.

As of December 31, 2024, substantially all of the “licensed and acquired program rights” and “in release” content costs monetized as a film group are estimated to be amortized over the next three years.

Amortization and impairment of content costs, which are included as a component of direct operating costs in the combined statement of operations, consisted of the following (in thousands):


	Year Ended December 31,
	2024		2023		2022
Content production amortization expense - assets monetized individually	$	5,262	$	5,028	$	—
Content production amortization expense - assets monetized as a film group		22,260		19,944		15,099
Content production impairment charges		—		—		—
Total amortization and impairment of content costs	$	27,522	$	24,972	$	15,099


	As of
	December 31,		December 31,
	2024		2023
Prepaid taxes	$	68,345	$	57,885
Ticket inventory (1)		46,208		188,560
Amounts due from the Group (Note 22)		30,450		10,423
Prepaid event and production-related costs		29,236		—
Other current receivables		20,825		21,561
Prepaid insurance		9,772		10,628
Assets held for sale		4,458		7,500
Other		38,816		54,155
Total	$	248,110	$	350,712

(1) During the second quarter of 2024, there was a write-down of unused tickets related to the Paris Olympics for $83.0 million, which was recorded in direct operating costs in the combined statement of operations.


	As of
	December 31,		December 31,
	2024		2023
Legal settlements	$	250,000	$	—
Payroll-related costs		153,014		138,101
Accrued operating expenses		127,369		24,098
Event and production-related costs		43,586		107,722
Legal and professional fees		27,797		22,129
Interest		20,817		41,634
Accrued capital expenditures		11,699		31,844
Other		35,950		56,753
Total	$	670,232	$	422,281