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VESSELS UNDER CAPITAL LEASES, NET (Tables)

12 Months Ended

Dec. 31, 2011

Components of vessels and equipment, net

Useful lives applied in depreciation are as follows:



Vessels	40 to 50 years
Deferred drydocking expenditure	two to five years
Office equipment and fittings	three to six years

Vessels and equipment

Property and equipment:

Components of vessels and equipment, net



(in thousands of $)	2011		2010
Cost	1,584,365		1,446,457
Accumulated depreciation	(381,362	)	(343,320	)
Net book value	1,203,003		1,103,137



(in thousands of $)	2011		2010
Cost	600,395		599,671
Accumulated depreciation and amortization	(98,491	)	(84,005	)
Net book value	501,904		515,666

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details