Norwegian Cruise Line Holdings Ltd. General form of registration statement for all companies including face-amount certificate companies

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

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2012

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.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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