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VESSELS AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

VESSELS AND EQUIPMENT, NET

VESSELS AND EQUIPMENT, NET

(in thousands of $)	June 30, 2019			December 31, 2018
Cost	1,916,581			1,955,880
Accumulated depreciation	423,497			396,168
Vessels and equipment, net	1,493,084			1,559,712

During the six months ended June 30, 2019, the 5,800 TEU container vessels MSC Margarita and MSC Vidhi, previously recorded as operating lease assets, were reclassified as sales-type leases. The reclassification occurred as a result of amendments to the existing charter contracts. The carrying value of the container vessels reclassified from vessels and equipment to investments in finance leases was $27.0 million (Refer to Note 8: Investments in direct financing and sales-type leases).

During the six months ended June 30, 2019, the Company capitalized costs of $1.0 million related to exhaust gas cleaning systems ("scrubbers") and ballast water treatment systems (year ended December 31, 2018: $0.5 million).

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- References

No definition available.

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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

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