General form of registration statement for all companies including face-amount certificate companies

Property and Equipment

v2.4.0.8
Property and Equipment
12 Months Ended
Dec. 31, 2012
Property and Equipment
3. Property and Equipment

Property and equipment consisted of the following (in thousands):

 

     December 31,  
     2012     2011  

Ships

   $ 5,601,375      $ 5,314,651   

Ships under construction

     376,007        184,498   

Land

     1,009        1,009   

Other

     233,235        202,928   
  

 

 

   

 

 

 
     6,211,626        5,703,086   

Less: accumulated depreciation and amortization

     (1,251,484     (1,062,993
  

 

 

   

 

 

 

Total

   $ 4,960,142      $ 4,640,093   
  

 

 

   

 

 

 

Depreciation and amortization expense for the years ended December 31, 2012, 2011 and 2010 was $189.5 million, $184.0 million and $170.2 million, respectively. Repairs and maintenance expenses including Dry-docking expenses were $44.7 million, $64.7 million and $60.9 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Ships under construction include progress payments to the shipyard, planning and design fees, loan interest and commitment fees and other associated costs. Interest costs associated with the construction of ships that were capitalized during the construction period amounted to $22.1 million, $16.7 million and $8.8 million for the years ended December 31, 2012, 2011 and 2010, respectively.