PROPERTY (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of property on the consolidated balance sheets

Property on the consolidated balance sheets includes the following (in millions):

	As of December 31, 2012
	Cost		Accumulated Depreciation and Amortization			Net Book Value

Vessels	$	1,249.1	$	(679.4	)	$	569.7
Containers and equipment	468.5		(300.1		)	168.4
Terminal facilities and other property	38.5		(28.8		)	9.7
Construction in progress	14.7		—			14.7
Total	$	1,770.8	$	(1,008.3	)	$	762.5

	As of December 31, 2011
	Cost		Accumulated Depreciation and Amortization			Net Book Value

Vessels	$	1,225.8	$	(639.3	)	$	586.5
Containers and equipment	481.3		(294.8		)	186.5
Terminal facilities and other property	37.9		(26.1		)	11.8
Construction in progress	15.7		—			15.7
Total	$	1,760.7	$	(960.2	)	$	800.5

Schedule of depreciation expense

	Year Ended December 31,
	2012	2011	2010
Depreciation Expense	70.6	69.4	68.1

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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