Gulf Island Fabrication, Inc. Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2017

Property, plant and equipment consisted of the following at December 31, (in thousands):



	Estimated Useful Life	2017		2016
	(in Years)
Land	-	$	4,972	$	10,463
Buildings	25	34,653		65,894
Machinery and equipment	3 to 25	141,704		238,029
Furniture and fixtures	3 to 5	4,450		5,570
Transportation equipment	3 to 5	2,667		3,814
Improvements	15	42,975		128,437
Construction in progress	-	96		5,303
Total cost		231,517		457,510
Less accumulated depreciation		142,618		251,288
Net book value		$	88,899	$	206,222

The schedule of minimum rental payments under our leases/sublease is as follows (in thousands):