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VESSELS AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

VESSELS AND EQUIPMENT, NET

17. VESSELS AND EQUIPMENT, NET

(in thousands of $)	2017		2016
Cost	2,431,136		2,438,720
Accumulated depreciation	(354,077	)	(284,889	)
Net book value	2,077,059		2,153,831

Drydocking costs of $37.4 million and $44.7 million are included in the cost amounts above as of December 31, 2017 and 2016, respectively. Accumulated amortization of those costs as of December 31, 2017 and 2016 were $24.3 million and $22.7 million, respectively.

Depreciation and amortization expense for each of the years ended December 31, 2017, 2016 and 2015 was $76.5 million, $73.0 million and $73.7 million, respectively.

As at December 31, 2017 and 2016, vessels with a net book value of $2,032.7 million and $2,106.1 million, respectively, were pledged as security for certain debt facilities (see note 31).

As at December 31, 2017 and 2016, included in the above amounts is office equipment with a net book value of $3.9 million.

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- References

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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