PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2023

PROPERTY AND EQUIPMENT

Schedule of property and equipment

	As of December 31, 2023						As of December 31, 2022
			Accumulated						Accumulated
(In millions)	Cost		Depreciation		Net Book Value		Cost		Depreciation		Net Book Value
Vessels	$	2,323.4	$	886.8	$	1,436.6	$	2,278.6	$	838.8	$	1,439.8
Containers and equipment		845.0		451.9		393.1		762.7		433.8		328.9
Terminal facilities and other property		148.0		58.6		89.4		131.5		53.6		77.9
New vessel construction in progress		103.1		—		103.1		50.2		—		50.2
Other construction in progress		67.7		—		67.7		65.7		—		65.7
Total	$	3,487.2	$	1,397.3	$	2,089.9	$	3,288.7	$	1,326.2	$	1,962.5

Schedule of depreciation expense

	Years Ended December 31,
(In millions)	2023		2022		2021
Depreciation expense	$	124.4	$	123.5	$	117.1