Schedule of Property, Plant and Equipment |
Major classes of property, plant and equipment were as follows: | | | | | | | | | | | | | December 31, 2022 | | December 31, 2021 | | | | | | (U.S. Dollars in thousands) | Land and land improvements | $ | 573,008 | | | $ | 544,057 | | Buildings and leasehold improvements | 401,851 | | | 399,392 | | Machinery and equipment | 390,397 | | | 368,754 | | Computer software | 68,820 | | | 65,036 | | Vessels and containers | 217,963 | | | 233,376 | | Machinery and equipment and vessel containers under finance leases | 37,706 | | | 48,195 | | Construction in progress | 57,571 | | | 55,717 | | | 1,747,316 | | | 1,714,527 | | Accumulated depreciation | (404,009) | | | (283,677) | | | $ | 1,343,307 | | | $ | 1,430,850 | |
Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: | | | | | | | | | | | Years | | | | Land improvements | | 1 to 30 | Buildings and leasehold improvements* | | 1 to 50 | Machinery and equipment | | 1 to 25 | Computer software | | 1 to 10 | Vessels and containers | | 1 to 30 | Machinery and equipment and vessel containers under finance leases | | Shorter of lease term or useful life |
*Leasehold improvements are depreciated using the shorter of the useful life or life of the lease.
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