PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2015

Property Plant And Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 7—PROPERTY, PLANT AND EQUIPMENT

A summary of property, plant and equipment by asset category is as follows:

	December 31, 2015			December 31, 2014
	(In thousands)
Marine Vessels	$	1,391,556		$	1,241,105
Construction Equipment		478,175			496,557
Buildings		155,292			159,623
All other		143,580			155,083
Construction in Progress		298,749			435,447
Total Cost		2,467,352			2,487,815
Accumulated Depreciation		(856,493	)		(830,467	)
Net Book Value	$	1,610,859		$	1,657,348

Interest capitalization―We incurred interest of $74 million, $85 million and $9 million and capitalized $23 million, $24 million and $9 million of interest in 2015, 2014 and 2013, respectively.  The capitalized interest was primarily on vessels under construction – DLV 2000 and CSV 108.

Depreciation―Our depreciation expense was approximately $100 million, $93 million and $85 million in 2015, 2014 and 2013, respectively.

Asset Sales—We previously committed to a plan to sell four of our multi-function marine vessels, specifically the Bold Endurance, DB 26, DB 16 and the DLB KP1. During 2014, we completed the sale of the DB16 and the DLB KP1 for aggregate cash proceeds of approximately $25 million, and realized an approximate $11 million gain. In 2013, we completed the sale of the Bold Endurance and the DB 26 for aggregate cash proceeds of approximately $32 million, resulting in an aggregate gain of approximately $13 million.

In April 2014, we completed the sale of our Harbor Island facility near Corpus Christi, Texas for proceeds of approximately $32 million, and realized an approximate $25 million gain in our AEA segment.

In June 2014, as part of our plan to discontinue utilization of our Morgan City facility, we disposed of several assets, including various items of equipment, for aggregate cash proceeds of approximately $14 million, resulting in an aggregate gain of approximately $11 million, of which approximately $1 million was recorded in connection with our Americas restructuring, discussed in Note 4, Restructuring. This portion of the gain pertained to an impairment charge previously recorded in 2013 in connection with the Americas restructuring.