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PROPERTY AND EQUIPMENT | 3 Months Ended
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Mar. 31, 2020
PROPERTY AND EQUIPMENT |
PROPERTY AND EQUIPMENT | 4. PROPERTY AND EQUIPMENT ​ Property and equipment as of March 31, 2020 and December 31, 2019 consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31, | ​
(In millions) |  | 2020 |  | 2019 | ​
Cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Vessels | ​ | $ | 1,966.1 | ​ | $ | 1,653.5 | ​
Containers and equipment | ​ | ​ | 528.8 | ​ | ​ | 544.5 | ​
Terminal facilities and other property | ​ | ​ | 114.6 | ​ | ​ | 114.4 | ​
Vessel construction in progress | ​ | ​ | 185.4 | ​ | ​ | 488.9 | ​
Other construction in progress | ​ | ​ | 48.1 | ​ | ​ | 35.4 | ​
Total Property and Equipment | ​ | ​ | 2,843.0 | ​ | ​ | 2,836.7 | ​
Less: Accumulated Depreciation | ​ | ​ | (1,253.4) | ​ | ​ | (1,238.6) | ​
Total Property and Equipment, net | ​ | $ | 1,589.6 | ​ | $ | 1,598.1 | ​
​ Vessel construction in progress relates to progress payments for the construction of new vessels, capitalized owner’s items and capitalized interest. During the three months ended March 31, 2020, the newly constructed vessel, Lurline was placed into service resulting in $308.2 million, including $16.5 million of capitalized interest, being transferred from the Vessel construction in progress category to the Vessels category within Property and Equipment. Capitalized interest included in Vessel construction in progress was $7.4 million and $22.0 million at March 31, 2020 and December 31, 2019, respectively.

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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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