PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2021

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

5. PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2021 and 2020, and depreciation expense for the years ended December 31, 2021, 2020 and 2019 is as follows:

	As of December 31, 2021						As of December 31, 2020
			Accumulated						Accumulated
(In millions)	Cost		Depreciation		Net Book Value		Cost		Depreciation		Net Book Value
Vessels	$	2,243.8	$	760.5	$	1,483.3	$	2,191.6	$	785.5	$	1,406.1
Containers and equipment		680.9		399.4		281.5		572.3		391.8		180.5
Terminal facilities and other property		128.3		49.2		79.1		119.8		45.1		74.7
Vessel construction in progress		14.9		—		14.9		—		—		—
Other construction in progress		19.5		—		19.5		28.6		—		28.6
Total	$	3,087.4	$	1,209.1	$	1,878.3	$	2,912.3	$	1,222.4	$	1,689.9

	Years Ended December 31,
(In millions)	2021		2020		2019
Depreciation expense	$	117.1	$	97.1	$	86.3