Deferred Dry-Docking Costs

9 Months Ended

Sep. 30, 2011

Deferred Dry-Docking Costs [Abstract]

Deferred Dry-Docking Costs

10.	Deferred Dry-Docking Costs
	We utilize the deferral method to capitalize vessel dry-docking costs and to amortize the costs to the next dry-docking. Such capitalized costs include regulatory required steel replacement, direct costs for vessel mobilization and demobilization, and rental of dry-docking facilities and services. Crew costs may also be capitalized when employees perform all or a part of the required dry-docking. Any repair and maintenance costs incurred during the dry-docking period are expensed.
	The table below presents dry-docking costs incurred and amortization for all periods presented:

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2011			2010			2011			2010
	(In thousands)						(In thousands)
Net book value at beginning of period	$	16,766		$	34,123		$	13,609		$	41,825
Additions for the period		1,894			—			9,592			2,169
Reclassifications to assets held for sale		—			(8,090	)		—			(9,761	)
Reductions related to the sale of investment in subsidiaries		(837	)		—			(837	)		—
Amortization expense for the period		(2,076	)		(3,966	)		(6,617	)		(12,166	)
Net book value at end of period	$	15,747		$	22,067		$	15,747		$	22,067

The book value of our deferred dry-docking costs as of September 30, 2011 and December 31, 2010 are included in Deferred charges, net on the Condensed Consolidated Balance Sheets.