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PROPERTY AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2019
PROPERTY AND EQUIPMENT |
PROPERTY AND EQUIPMENT |
5. | PROPERTY AND EQUIPMENT
​ Property and equipment at December 31, 2019 and 2018, and depreciation expense for the years ended December 31, 2019, 2018 and 2017 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2019 |  | ​ | As of December 31, 2018 |
​ |  | ​ | ​ |  | Accumulated |  | ​ |  |  | ​ | ​ |  | Accumulated |  | ​ |
(In millions) | ​ | Cost | ​ | Depreciation | ​ | Net Book Value |  | ​ | Cost | ​ | Depreciation | ​ | Net Book Value |
Vessels | ​ | $ | 1,653.5 | ​ | $ | 818.5 | ​ | $ | 835.0 | ​ | ​ | $ | 1,489.2 | ​ | $ | 847.1 | ​ | $ | 642.1 | ​
Containers and equipment | ​ |  | 544.5 | ​ | ​ | 378.8 | ​ |  | 165.7 | ​ | ​ |  | 513.6 | ​ |  | 362.9 | ​ |  | 150.7 | ​
Terminal facilities and other property | ​ |  | 114.4 | ​ | ​ | 41.3 | ​ |  | 73.1 | ​ | ​ |  | 66.0 | ​ |  | 38.6 | ​ |  | 27.4 | ​
Vessel construction in progress | ​ | ​ | 488.9 | ​ | ​ | — | ​ | ​ | 488.9 | ​ | ​ | ​ | 487.2 | ​ | ​ | — | ​ | ​ | 487.2 | ​
Other construction in progress | ​ |  | 35.4 | ​ | ​ | — | ​ |  | 35.4 | ​ | ​ |  | 59.2 | ​ |  | — | ​ |  | 59.2 | ​
Total | ​ | $ | 2,836.7 | ​ | $ | 1,238.6 | ​ | $ | 1,598.1 | ​ | ​ | $ | 2,615.2 | ​ | $ | 1,248.6 | ​ | $ | 1,366.6 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, |
(In millions) |  | 2019 |  | 2018 |  | 2017 |
Depreciation expense | ​ | $ | 86.3 | ​ | $ | 80.5 | ​ | $ | 86.7 | ​
​ Property and equipment included assets subject to capital leases with a net book value of $0.1 million, net of accumulated depreciation of $0.7 million at December 31, 2018. There were no capital leases outstanding as of December 31, 2019. Depreciation of assets subject to capital leases recorded in the Consolidated Statement of Income and Comprehensive Income was $0.5 million and $1.5 million for the years ended December 31, 2018 and 2017, respectively.

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- References No definition available. + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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