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PROPERTY AND EQUIPMENT | 3 Months Ended
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Mar. 31, 2024
PROPERTY AND EQUIPMENT |
PROPERTY AND EQUIPMENT | 5. PROPERTY AND EQUIPMENT ​ Property and equipment as of March 31, 2024 and December 31, 2023 consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
(In millions) |  | 2024 |  | 2023
Cost: | ​ | ​ | ​ | ​ | ​ | ​
Vessels | ​ | $ | 2,329.3 | ​ | $ | 2,323.4
Containers and equipment | ​ | ​ | 859.5 | ​ | ​ | 845.0
Terminal facilities and other property | ​ | ​ | 148.9 | ​ | ​ | 148.0
New vessel construction in progress | ​ | ​ | 104.3 | ​ | ​ | 103.1
Other construction in progress | ​ | ​ | 93.9 | ​ | ​ | 67.7
Total Property and Equipment | ​ | ​ | 3,535.9 | ​ | ​ | 3,487.2
Less: Accumulated Depreciation | ​ | ​ | (1,420.2) | ​ | ​ | (1,397.3)
Total Property and Equipment, net | ​ | $ | 2,115.7 | ​ | $ | 2,089.9
​ ​ ​ New vessel construction in progress at March 31, 2024 and December 31, 2023 includes milestone progress payments, capitalized interest and other costs related to the construction of three new Jones Act vessels.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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