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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2018
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

4.          PROPERTY AND EQUIPMENT

 

Property and equipment at June 30, 2018 and December 31, 2017 consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

(In millions)

    

2018

    

2017

 

Cost:

 

 

 

 

 

 

 

Vessels

 

$

1,442.1

 

$

1,433.6

 

Containers and equipment

 

 

530.2

 

 

543.0

 

Terminal facilities and other property

 

 

65.9

 

 

64.8

 

Vessel construction in progress

 

 

543.4

 

 

376.6

 

Other construction in progress

 

 

35.8

 

 

26.2

 

Total Property and Equipment

 

 

2,617.4

 

 

2,444.2

 

Less: Accumulated Depreciation

 

 
(1,310.3)

 

 
(1,278.5)

 

Total Property and Equipment, net

 

$

1,307.1

 

$

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 included in vessel construction in progress was $18.6 million and $10.4 million at June 30, 2018 and December 31, 2017, respectively.