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Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment
Note 6. Property and Equipment
Property and equipment consists of the following (in millions):
As of December 31,
20242023
Ships$41,046 $36,255 
Ship improvements2,491 2,259 
Ships under construction1,048 3,052 
Land, buildings and improvements, including leasehold improvements and port facilities887 763 
Computer hardware and software, transportation equipment and other1,668 1,595 
Total property and equipment47,140 43,924 
Less—accumulated depreciation and amortization
(15,309)(13,810)
$31,831 $30,114 
Ships under construction include progress payments for the construction of new ships as well as planning, design, capitalized interest and other associated costs. We capitalized interest costs of $63 million, $99 million, and $64 million for the years ended December 31, 2024, 2023 and 2022, respectively.
In May 2024, we took delivery of Silver Ray. In June 2024, we took delivery of Utopia of the Seas. Refer to Note 8. Debt for further information on the financings for Silver Ray and Utopia of the Seas. In June 2023, we took delivery of Silver Nova. In November 2023, we took delivery of Celebrity Ascent and Icon of the Seas.
In our consolidated statement of cash flows for the years ended December 31, 2024 and 2023, respectively, the acceptance of the ships and satisfaction of our obligations under the shipbuilding contract were classified as outflows and constructive disbursements within Investing Activities while the amounts novated and effectively advanced from our lenders under our previously committed financing arrangements were classified as inflows and constructive receipts within Financing Activities.
Long-lived Assets impairments
During the years ended December 31, 2024, 2023, and 2022, there were no material impairment charges recognized. Any impairment charges recognized on Long-lived Assets used in our operations are generally reported within Other operating in our consolidated statements of comprehensive income (loss).