v3.26.1
Property and Equipment—Net
6 Months Ended
Jun. 30, 2026
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT—Net PROPERTY AND EQUIPMENT—Net
Property and equipment—net consisted of (in millions):
 
 June 30,
2026
December 31,
2025
Land$649.0 $592.4 
Buildings and improvements974.8 974.0 
Computer equipment and software400.2 341.0 
Leasehold improvements58.8 58.5 
Evaluation units18.5 24.1 
Furniture and fixtures39.2 36.3 
Construction-in-progress86.5 74.6 
Total property and equipment2,227.0 2,100.9 
Less: accumulated depreciation(527.5)(481.9)
Property and equipment—net$1,699.5 $1,619.0 

During the six months ended June 30, 2026, we purchased certain real estate property in the United States totaling $62.1 million, to be used for future development to expand our data center and office space. The purchase was accounted for under the asset acquisition method, with $59.5 million allocated to land and $2.6 million allocated to buildings and improvements, based on their relative fair values.

Depreciation expense was $31.5 million and $25.1 million during the three months ended June 30, 2026 and 2025, respectively. Depreciation expense was $61.0 million and $49.1 million during the six months ended June 30, 2026 and 2025, respectively.