Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v2.4.0.8
Property and Equipment
12 Months Ended
Dec. 31, 2013
Property and Equipment
4. Property and Equipment

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

 

     December 31,  
     2013     2012  

Ships

   $ 6,542,073      $ 5,601,375   

Ships under construction

     297,624        376,007   

Land

     1,009        1,009   

Other

     273,077        233,235   
  

 

 

   

 

 

 
     7,113,783        6,211,626   

Less: accumulated depreciation and amortization

     (1,466,113     (1,251,484
  

 

 

   

 

 

 

Total

   $ 5,647,670      $ 4,960,142   
  

 

 

   

 

 

 

Depreciation and amortization expense for the years ended December 31, 2013, 2012 and 2011 was $215.6 million, $189.5 million and $184.0 million, respectively. Repairs and maintenance expenses including Dry-dock expenses were $67.1 million, $44.7 million and $64.7 million for the years ended December 31, 2013, 2012 and 2011, 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 $26.3 million, $22.1 million and $16.7 million for the years ended December 31, 2013, 2012 and 2011, respectively.