PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2022

PROPERTY AND EQUIPMENT

Schedule of property and equipment

	As of December 31, 2022						As of December 31, 2021
			Accumulated						Accumulated
(In millions)	Cost		Depreciation		Net Book Value		Cost		Depreciation		Net Book Value
Vessels	$	2,278.6	$	838.8	$	1,439.8	$	2,243.8	$	760.5	$	1,483.3
Containers and equipment		762.7		433.8		328.9		680.9		399.4		281.5
Terminal facilities and other property		131.5		53.6		77.9		128.3		49.2		79.1
Vessel construction in progress		50.2		—		50.2		14.9		—		14.9
Other construction in progress		65.7		—		65.7		19.5		—		19.5
Total	$	3,288.7	$	1,326.2	$	1,962.5	$	3,087.4	$	1,209.1	$	1,878.3

Schedule of depreciation expense

	Years Ended December 31,
(In millions)	2022		2021		2020
Depreciation expense	$	123.5	$	117.1	$	97.1