PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2025

PROPERTY AND EQUIPMENT

Schedule of property and equipment

	As of December 31, 2025						As of December 31, 2024
			Accumulated						Accumulated
(In millions)	Cost		Depreciation		Net Book Value		Cost		Depreciation		Net Book Value
Vessels	$	2,405.0	$	932.6	$	1,472.4	$	2,475.2	$	961.9	$	1,513.3
Containers and equipment		943.0		505.5		437.5		883.8		465.9		417.9
Terminal equipment and other property		171.7		69.5		102.2		152.3		64.0		88.3
New vessel construction in progress		443.2		—		443.2		198.8		—		198.8
Other construction in progress		44.1		—		44.1		42.6		—		42.6
Total	$	4,007.0	$	1,507.6	$	2,499.4	$	3,752.7	$	1,491.8	$	2,260.9

Schedule of depreciation expense

	Years Ended December 31,
(In millions)	2025		2024		2023
Depreciation expense	$	147.4	$	135.4	$	124.4