PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2018

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

4.          PROPERTY AND EQUIPMENT

Property and equipment at March 31, 2018 and December 31, 2017 consisted of the following:

	March 31,		December 31,
(In millions)	2018		2017
Cost:
Vessels	$	1,440.9	$	1,433.6
Containers and equipment		538.2		543.0
Terminal facilities and other property		65.8		64.8
Vessel construction in progress		434.3		376.6
Other construction in progress		29.1		26.2
Total Property and Equipment		2,508.3		2,444.2
Less: Accumulated Depreciation		(1,293.3)		(1,278.5)
Total Property and Equipment, net	$	1,215.0	$	1,165.7

Vessel construction in progress relates to progress payments for the construction of four new vessels to be used within the Hawaii service, capitalized owners’ items and capitalized interest.  Capitalized interest was $14.1 million and $10.4 million at March 31, 2018 and December 31, 2017, respectively.