Annual report pursuant to Section 13 and 15(d)

Equipment Acquisitions And Dispositions

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Equipment Acquisitions And Dispositions
12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Equipment Acquisitions And Dispositions
3. EQUIPMENT ACQUISITIONS AND DISPOSITIONS
Equipment Additions. The Company’s capital expenditures were $37.8 million, $50.3 million and $114.6 million during the years ended December 31, 2019, 2018, and 2017, respectively. Major owned equipment placed in service for the years ended December 31, were as follows:
2019 2018
2017(1)
Petroleum and chemical carriers - U.S.-flag —    —     
Harbor tugs - U.S.-flag      
Harbor tugs - Foreign-flag —    —     
Short-sea container/RORO - Foreign-flag —      —   
Inland river liquid tank barges —    —     
Inland river towboats   —     
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(1)Excludes two U.S.-flag bulk carriers acquired in the ISH acquisition (see Note 2).
Equipment Dispositions. During the year ended December 31, 2019, the Company sold property and equipment for net proceeds of $2.5 million and gains of $0.5 million. In addition, the Company recognized previously deferred gains of $2.4 million.
During the year ended December 31, 2018, the Company sold property and equipment for net proceeds of $16.1 million and gains of $6.6 million. In addition, the Company recognized previously deferred gains of $13.0 million.
During the year ended December 31, 2017, the Company sold property and equipment for net proceeds of $164.8 million and gains of $23.3 million, of which $10.0 million were recognized currently and $13.3 million were deferred (see Note 1). Equipment dispositions included the sale-leaseback of one U.S.-flag petroleum and chemical carrier for $134.9 million, with leaseback terms of 104 months and 50 dry-cargo barges for $12.5 million with leaseback terms of 84 months. Gains of $13.3 million related to the sale-leasebacks were deferred and were being amortized over the respective minimum lease periods until January 1, 2019, when the Company adopted Topic 842 (see Note 1). In addition, the Company recognized previously deferred gains of $2.3 million. The Company also recognized a loss of $0.3 million related to the total loss of one inland river specialty barge.
Major equipment dispositions for the years ended December 31, were as follows:
2019 2018 2017
Petroleum and chemical carriers - U.S.-flag —       
Harbor tugs - U.S.-flag —      —   
Short-sea container/RORO - Foreign-flag   —    —   
Inland river dry-cargo barges —    32    50   
Inland river specialty barges —       
Inland river towboats —    —