(in USD and thousands)

River
Vessels &
Equipment

Ocean and
Expedition
Ships &
Equipment

River
Vessels
under
Construction

Ocean
Ships under
Construction

Office
Equipment

Land &
Buildings

Other
Fixed
Assets

Intangible
Assets,
including
Goodwill

Total

Cost as of January 1, 2025

$

2,713,263

$

4,573,867

$

314,717

$

407,998

$

19,311

$

24,013

$

53,621

$

165,470

$

8,272,260

Additions

29,376

2,690

213,680

552,416

1,059

3,584

622

21,743

825,170

Disposals

(1,661

)

—

—

—

(477

)

(29

)

—

(11,383

)

(13,550

)

Reclassified from right-of-use-assets

—

124

—

—

22

—

—

—

146

Reclassified between assets

39,555

505,771

(39,555

)

(505,771

)

59

—

(64

)

5

—

Effect of currency translation

8,946

—

3,000

—

366

2,861

110

365

15,648

Cost as of June 30, 2025

$

2,789,479

$

5,082,452

$

491,842

$

454,643

$

20,340

$

30,429

$

54,289

$

176,200

$

9,099,674

Accumulated depreciation, amortization and impairment as of January 1, 2025

(1,062,027

)

(588,074

)

—

—

(14,899

)

(8,726

)

(37,019

)

(104,411

)

$

(1,815,156

)

Depreciation and amortization

(38,838

)

(68,202

)

—

—

(1,507

)

(439

)

(1,035

)

(11,468

)

(121,489

)

Depreciation and amortization of disposals

266

—

—

—

475

29

—

10,688

11,458

Reclassified from right-of-use-assets

—

(124

)

—

—

(22

)

—

—

—

(146

)

Effect of currency translation

(3,829

)

—

—

—

(262

)

(1,154

)

(38

)

(325

)

(5,608

)

Accumulated depreciation, amortization and impairment as of June 30, 2025

$

(1,104,428

)

$

(656,400

)

$

—

$

—

$

(16,215

)

$

(10,290

)

$

(38,092

)

$

(105,516

)

$

(1,930,941

)

Net book value

As of January 1, 2025

$

1,651,236

$

3,985,793

$

314,717

$

407,998

$

4,412

$

15,287

$

16,602

$

61,059

$

6,457,104

As of June 30, 2025

$

1,685,051

$

4,426,052

$

491,842

$

454,643

$

4,125

$

20,139

$

16,197

$

70,684

$

7,168,733