Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net

v3.3.1.900
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2015
Property Plant And Equipment [Abstract]  
Property and Equipment, Net
6. Property and Equipment, Net

 

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

 

    December 31,  
    2015     2014  
Ships   $ 10,765,525     $ 9,706,093  
Ships under construction     300,575       290,381  
Land     1,009       1,009  
Other     434,881       351,377  
      11,501,990       10,348,860  
Less: accumulated depreciation and amortization     (2,043,185 )     (1,725,087 )
Property and Equipment, Net   $ 9,458,805     $ 8,623,773  

 

The increase in Ships was primarily due to the addition of Norwegian Escape. Depreciation and amortization expense for the years ended December 31, 2015, 2014 and 2013 was $432.1 million, $273.1 million and $215.6 million, respectively. Repairs and maintenance expenses including Dry-dock expenses were $124.8 million, $69.9 million and $67.1 million for the years ended December 31, 2015, 2014 and 2013, 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 $31.9 million, $22.0 million and $26.3 million for the years ended December 31, 2015, 2014 and 2013, respectively.