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VESSELS UNDER CAPITAL LEASES, NET (Tables)

12 Months Ended

Dec. 31, 2012

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 $)	2012		2011
Cost	771,945		1,584,365
Accumulated depreciation	(198,330	)	(381,362	)
Net book value	573,615		1,203,003



(in thousands of $)	2012	2011
Cost	—	600,395
Accumulated depreciation and amortization	—	(98,491	)
Net book value	—	501,904

- 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