PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2019

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

5. PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2019 and 2018, and depreciation expense for the years ended December 31, 2019, 2018 and 2017 is as follows:

	As of December 31, 2019						As of December 31, 2018
			Accumulated						Accumulated
(In millions)	Cost		Depreciation		Net Book Value		Cost		Depreciation		Net Book Value
Vessels	$	1,653.5	$	818.5	$	835.0	$	1,489.2	$	847.1	$	642.1
Containers and equipment		544.5		378.8		165.7		513.6		362.9		150.7
Terminal facilities and other property		114.4		41.3		73.1		66.0		38.6		27.4
Vessel construction in progress		488.9		—		488.9		487.2		—		487.2
Other construction in progress		35.4		—		35.4		59.2		—		59.2
Total	$	2,836.7	$	1,238.6	$	1,598.1	$	2,615.2	$	1,248.6	$	1,366.6

	Years Ended December 31,
(In millions)	2019		2018		2017
Depreciation expense	$	86.3	$	80.5	$	86.7

Property and equipment included assets subject to capital leases with a net book value of $0.1 million, net of accumulated depreciation of $0.7 million at December 31, 2018. There were no capital leases outstanding as of December 31, 2019. Depreciation of assets subject to capital leases recorded in the Consolidated Statement of Income and Comprehensive Income was $0.5 million and $1.5 million for the years ended December 31, 2018 and 2017, respectively.