Document And Entity Information (USD $)	12 Months Ended
Document And Entity Information (USD $)	Dec. 31, 2011	Feb. 15, 2012	Jun. 30, 2011
Entity Registrant Name	ALEXANDER & BALDWIN INC
Entity Central Index Key	0000003453
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,980,995,573
Entity Common Stock, Shares Outstanding		41,871,540
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2011

CONSOLIDATED STATEMENTS OF INCOME (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Operating Revenue:
Ocean transportation	$ 1,074	$ 1,012	$ 887
Logistics services	386	355	321
Real estate leasing	93	81	71
Real estate sales	14	14	16
Agribusiness	155	152	97
Total operating revenue	1,722.0	1,614.0	1,392.0
Operating Costs and Expenses:
Cost of ocean transportation services	908	806	740
Cost of logistics services	348	314	280
Cost of real estate sales and leasing	67	60	54
Cost of agribusiness goods and services	131	150	130
Selling, general and administrative	154	158	154
Total operating costs and expenses	1,608	1,488	1,358
Operating Income	114.0	126.0	34.0
Other Income and (Expense):
Gain on insurance settlement	0	2	0
Agriculture disaster relief payment	0	4	0
Gain on consolidation of HS&TC	0	0	5
Income (loss) related to real estate joint ventures	(2)	5	(2)
Interest income	0	2	0
Interest expense	(25.0)	(26.0)	(25.0)
Income From Continuing Operations Before Income Taxes	87.0	114.0	12.0
Income taxes	32.0	45.0	5.0
Income From Continuing Operations	55.0	69.0	7.0
Income from discontinued operations, net of income taxes (Note 2)	(21.0)	23.0	37.0
Net Income	$ 34.0	$ 92.0	$ 44.0
Basic Earnings per Share of Common Stock:
Continuing operations (in dollars per share)	$ 1.32	$ 1.68	$ 0.19
Discontinued operations (in dollars per share)	$ (0.50)	$ 0.55	$ 0.89
Net income (in dollars per share)	$ 0.82	$ 2.23	$ 1.08
Diluted Earnings per Share of Common Stock:
Continuing operations (in dollars per share)	$ 1.31	$ 1.67	$ 0.19
Discontinued operations (in dollars per share)	$ (0.50)	$ 0.55	$ 0.89
Net income (in dollars per share)	$ 0.81	$ 2.22	$ 1.08
Weighted Average Number of Shares Outstanding:
Basic (in shares)	41.6	41.2	41.0
Diluted (in shares)	42.0	41.5	41.1

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash Flows from Operating Activities:
Net income	$ 34.0	$ 92.0	$ 44.0
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization	109	107	105
Deferred income taxes	(5)	5	1
Gains on asset transactions, net of impairment losses	(34)	(51)	(51)
Gain from receipt of insurance proceeds	0	(1)	0
Gain on consolidation of HS&TC	0	0	(5)
Share-based expense	8	8	9
Equity in income (loss) of affiliates, net of distributions	5	(8)	(1)
Changes in operating assets and liabilities:
Accounts and notes receivable	(13)	8	(16)
Inventories	(6)	6	(6)
Prepaid expenses and other assets	(4)	(18)	(5)
Deferred dry-docking costs	(13)	9	10
Liability for employee benefit plans	11	15	0
Accounts and income taxes payable	14	9	20
Other liabilities	(12)	(15)	11
Real estate developments held for sale:
Real estate inventory sales	6	6	5
Expenditures for real estate inventory	(14)	(22)	(6)
Net cash provided by operations	86	150	115
Cash Flows from Investing Activities:
Capital expenditures for property and developments	(67)	(95)	(31)
Proceeds from disposal of income-producing property, investments and other assets	16	34	32
Deposits into Capital Construction Fund	(4)	(4)	(4)
Withdrawals from Capital Construction Fund	4	4	4
Acquisition of businesses, net of cash acquired	0	0	10
Payments for purchases of investments	(28)	(102)	(48)
Proceeds from investments	8	13	6
Net cash used in investing activities	(71)	(150)	(31)
Cash Flows from Financing Activities:
Proceeds from issuance of debt	256	245	241
Payments of debt and deferred financing costs	(215)	(198)	(288)
Proceeds from (payments on) line-of-credit agreement, net	(5)	(4)	13
Proceeds from issuance of capital stock and other	10	7	(1)
Dividends paid	(53)	(52)	(52)
Net cash used in financing activities	(7)	(2)	(87)
Cash and Cash Equivalents:
Net increase (decrease) for the year	8	(2)	(3)
Balance, beginning of year	14	16	19
Balance, end of year	22	14	16
Other Cash Flow Information:
Interest paid, net of amounts capitalized	(24)	(25)	(24)
Income taxes paid	(25)	(46)	(38)
Non-cash Activities:
Debt assumed in real estate purchase	0	8	0
Real estate received in settlement of a mortgage note	0	8	0
Capital expenditures included in accounts payable and accrued expenses	11	7	5
Tax-deferred property sales	45	120	109
Tax-deferred property purchases	$ (39)	$ (148)	$ (95)

CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Current Assets
Cash and cash equivalents	$ 22	$ 14
Accounts and notes receivable, less allowances of $7 for 2011 and $8 for 2010	173	165
Inventories	40	35
Real estate held for sale	3	8
Deferred income taxes	5	8
Section 1031 exchange proceeds	0	1
Prepaid expenses and other assets	32	33
Total current assets	275	264
Investments in Affiliates	347	329
Real Estate Developments	143	122
Property - net	1,634	1,651
Employee Benefit Plan Assets	1	3
Other Assets	144	126
Total	2,544	2,495
Current Liabilities
Notes payable and current portion of long-term debt	52	136
Accounts payable	156	137
Payroll and vacation benefits	20	20
Uninsured claims	8	10
Accrued and other liabilities	42	50
Total current liabilities	278	353
Long-term Liabilities
Long-term debt	507	386
Deferred income taxes	418	431
Employee benefit plans	168	135
Uninsured claims and other liabilities	50	54
Total long-term liabilities	1,143	1,006
Commitments and Contingencies (Note 13)
Shareholders' Equity
Capital stock - common stock without par value; authorized, 150 million shares ($0.75 stated value per share); outstanding, 41.7 million shares in 2011 and 41.3 million shares in 2010	34	34
Additional capital	239	223
Accumulated other comprehensive loss	(92)	(82)
Retained earnings	953	972
Cost of treasury stock	(11)	(11)
Total shareholders' equity	1,123	1,136
Total	$ 2,544	$ 2,495

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Millions, except Per Share data, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Current Assets
Allowances of accounts and notes receivable	$ 7	$ 8
Shareholders' Equity
Capital stock, shares authorized (in shares)	150	150
Capital stock, stated value (in dollars per share)	$ 0.75	$ 0.75
Capital stock, shares outstanding (in shares)	41.7	41.3

- Definition

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

+ References+ Details

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $)
In Millions, unless otherwise specified

Capital Stock Issued [Member]

Capital Stock In Treasury [Member]

Additional Capital [Member]

Accumulated Other Comprehensive Loss [Member]

Retained Earnings [Member]

Total

Balance at Dec. 31, 2008

$ 33

$ (11)

$ 204

$ (96)

$ 942

$ 1,072

Balance (in shares) at Dec. 31, 2008

44.6

3.6

Net income

44.0

Defined benefit plans:

Net gain/prior service (cost)

^[1]

Less: Amortization of net loss/prior service cost

^[1]

Total comprehensive income

^[1]

Excess tax benefit and share withholding

(3)

Share-based compensation

Dividends

(52)

Balance at Dec. 31, 2009

(11)

210

(81)

934

1,085

Balance (in shares) at Dec. 31, 2009

44.6

3.6

Net income

92.0

Defined benefit plans:

Net gain/prior service (cost)

^[1]

(13)

Less: Amortization of net loss/prior service cost

^[1]

Total comprehensive income

^[1]

Excess tax benefit and share withholding

(1)

(2)

(3)

Shares issued

Shares issued (in shares)

0.3

Share-based compensation

Dividends

(52)

Balance at Dec. 31, 2010

(11)

223

(82)

972

1,136

Balance (in shares) at Dec. 31, 2010

44.9

3.6

Net income

34.0

Defined benefit plans:

Net gain/prior service (cost)

^[1]

(17)

Less: Amortization of net loss/prior service cost

^[1]

Total comprehensive income

^[1]

Excess tax benefit and share withholding

Shares issued

Shares issued (in shares)

0.4

Share-based compensation

Dividends

(53)

Balance at Dec. 31, 2011

$ 34

$ (11)

$ 239

$ (92)

$ 953

$ 1,123

Balance (in shares) at Dec. 31, 2011

45.3

3.6

[1]	Net of ($10) million and $5 million for 2011, ($10) million and $6 million for 2010, and $5 million each in 2009 for deferred taxes related to net gain/prior service cost and amortization of net loss/prior service cost, respectively.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY [Abstract]
Dividends	$ 1.26	$ 1.26	$ 1.26
Deferred taxes related to net gain/prior service cost	$ (10)	$ (10)	$ 5
Deferred taxes related to amortization of net loss/prior service cost	$ 5	$ 6	$ 5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2011

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business: Founded in 1870, Alexander & Baldwin, Inc. (“A&B” or the “Company”) is incorporated under the laws of the State of Hawaii. A&B operates in five segments in three industries: Transportation, Real Estate and Agribusiness. These industries are described below:

Transportation: The Transportation Industry consists of Ocean Transportation and Logistics Services segments. The Ocean Transportation segment, which is conducted through Matson Navigation Company, Inc. (“Matson”), a wholly-owned subsidiary of A&B, is an asset-based business that derives its revenue primarily through the carriage of containerized freight between various U.S. Pacific Coast, Hawaii, Guam, China and other Pacific island ports. Additionally, the Ocean Transportation segment has a 35 percent interest in an entity that provides terminal and stevedoring services at U.S. Pacific Coast facilities. The Logistics Services segment, which is conducted through Matson Logistics, Inc. (“ML”), a wholly-owned subsidiary of Matson, is a non-asset based business that is a provider of domestic and international rail intermodal service (“Intermodal”), long-haul and regional highway brokerage, specialized hauling, flat-bed and project work, less-than-truckload, expedited/air freight services, and warehousing and distribution services (collectively “Highway”). Warehousing, packaging and distribution services are provided by Matson Logistics Warehousing, Inc. (“MLW”), a wholly-owned subsidiary of ML.

Real Estate: The Real Estate Industry consists of two segments, both of which have operations in Hawaii and on the U.S. Mainland. The Real Estate Sales segment generates its revenues through the development and sale of land and commercial and residential properties. The Real Estate Leasing segment owns, operates, and manages retail, office, and industrial properties. Real estate activities are conducted through A&B Properties, Inc. and various other wholly-owned subsidiaries of A&B.

Agribusiness: Agribusiness, which contains one segment, produces bulk raw sugar, specialty food-grade sugars, and molasses; markets and distributes specialty food-grade sugars; provides general trucking services, mobile equipment maintenance and repair services in Hawaii; and generates and sells, to the extent not used in the Company's operations, electricity. The Company also is the sole member in Hawaiian Sugar & Transportation Cooperative (“HS&TC”), a cooperative that provides raw sugar marketing and transportation services. HS&TC was consolidated with the Company's results beginning December 1, 2009.

In March 2011, the Company finalized an agreement to lease land and sell coffee inventory and certain assets used in a coffee business it previously operated to Massimo Zanetti Beverage USA, Inc. (“MZB”), including intangible assets. The coffee inventory and assets were sold for approximately $14 million. There was no material gain or loss on the transaction. The Company retained fee simple ownership of the land, buildings, power generation, and power distribution assets, but no longer operates the coffee plantation.

Separation Transaction: On December 1, 2011, the Company announced that its Board of Directors unanimously approved a plan to pursue the separation of the Company to create two independent, publicly traded companies:

·	A Hawaii-based land company with interests in real estate development, commercial real estate and agriculture (composed of the Real Estate and Agribusiness segments described above), which will retain the Alexander & Baldwin, Inc. name; and

·	An ocean transportation company serving the U.S. West Coast, Hawaii, Guam, Micronesia and China, and a domestic logistics company under the Matson name (composed of the businesses in the Transportation segment described above).

The separation is expected to be completed in the second half of 2012.

Principles of Consolidation: The consolidated financial statements include the accounts of Alexander & Baldwin, Inc. and all wholly-owned and controlled subsidiaries, after elimination of significant intercompany amounts. Significant investments in businesses, partnerships, and limited liability companies in which the Company does not have a controlling financial interest, but has the ability to exercise significant influence, are accounted for under the equity method. A controlling financial interest is one in which the Company has a majority voting interest or one in which the Company is the primary beneficiary of a variable interest entity.

Fiscal Year: The fiscal year end for the Company's Real Estate and Agribusiness Industry segments is December 31. The fiscal year end for the Company's Transportation Industry segments occurs on the last Friday in December, except for the warehousing services business, whose fiscal year closes on December 31. There were 52 weeks included in the Transportation Industry segments' 2011 and 2009 fiscal year and 53 weeks in 2010.

Reclassifications: Certain amounts reflected in the consolidated statements of income for the years ended December 31, 2010 and 2009 have been reclassified to conform to the presentation for the year ended December 31, 2011.

Risks and Uncertainties: Factors that could adversely impact the Company's operations or financial results include, but are not limited to, the following: unfavorable economic conditions in the U.S., Guam, or Asian markets that result in a further decrease in consumer confidence or market demand for, or prices of, the Company's services and products; increased competition; replacement of the Company's significant operating agreements; reduction in credit availability; downgrade in the Company's credit rating that affects its ability to secure adequate financing or increase the cost of financing; failure to comply with restrictive financial covenants in the Company's credit facilities; insolvency of the Company's insurance carriers; insolvency or failure of joint venture partner to perform; loss or insolvency of significant agents, customers, or vendors; unfavorable political conditions in domestic or international markets; strikes or work stoppages; increased cost of energy, commodities, or labor; noncompliance with or changes in laws and regulations relating to the Company's business, including environmental laws or climate change legislation or regulation; unfavorable litigation or legal proceedings or government inquiries or investigations; adverse weather conditions; changes in the legal and regulatory environment; changes in accounting and taxation standards, including an increase in tax rates; an inability to achieve the Company's overall long-term goals; an inability to protect the Company's information systems; future impairment charges; increased pension costs; inadequate internal controls; material warranty and construction defect claims; and global or regional catastrophic events.

Use of Estimates: The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported. Estimates and assumptions are used for, but not limited to: (i) asset impairments, (ii) legal contingencies, (iii) allowance for doubtful accounts, (iv) revenue recognition for long-term real estate developments, (v) self-insured liabilities, (vi) goodwill and intangible assets, (vii) pension and postretirement estimates, (viii) sugar production, and (ix) income taxes. Future results could be materially affected if actual results differ from these estimates and assumptions.

Cash and Cash Equivalents: Cash equivalents consist of highly liquid investments with a weighted-average maturity of three months or less at the date of purchase. The Company carries these investments at cost, which approximates fair value. Outstanding checks in excess of funds on deposit totaled $13 million and $14 million at December 31, 2011 and 2010, respectively, and are reflected as current liabilities in the consolidated balance sheets.

Fair Value of Financial Instruments: The fair values of cash and cash equivalents, receivables and short-term borrowings approximate their carrying values due to the short-term nature of the instruments. The carrying amount and fair value of the Company's debt at December 31, 2011 was $559 million and $587 million, respectively, and $522 million and $546 million at December 31, 2010, respectively. The fair value of debt is calculated based upon interest rates available for debt with terms and maturities similar to the Company's existing debt arrangements.

Allowance for Doubtful Accounts: Allowances for doubtful accounts are established by management based on estimates of collectibility. Estimates of collectability are principally based on an evaluation of the current financial condition the Company's customers and their payment history, which are regularly monitored by the Company. The changes in the allowance for doubtful accounts, included on the consolidated balance sheets as an offset to “Accounts and notes receivable,” for the three years ended December 31, 2011 were as follows (in millions):

	Balance at Beginning of year	Expense	Write-offs and Other	Balance at End of Year

2011	$8	$--	$(1)	$7
2010	$10	--	$(2)	$8
2009	$8	$3	$(1)	$10

Inventories: Sugar inventories are stated at the lower of cost (first-in, first-out basis) or market value. Materials and supplies inventory are stated at the lower of cost (principally average cost) or market value. Inventories at December 31, 2011 and 2010 were as follows (in millions):

	2011		2010

Sugar inventories	$	16	$	16
Materials and supplies inventories		24		19
Total	$	40	$	35

Dry-docking: Under U.S. Coast Guard rules, administered through the American Bureau of Shipping's alternative compliance program, all vessels must meet specified seaworthiness standards to remain in service. Vessels must undergo regular inspection, monitoring and maintenance, referred to as “dry-docking,” to maintain the required operating certificates. These dry-docks occur on scheduled intervals ranging from two to five years, depending on the vessel's age. Because the dry-docks enable the vessel to continue operating in compliance with U.S. Coast Guard requirements and provide future economic benefits, the costs of these scheduled dry-docks are deferred and amortized until the next regularly scheduled dry-dock period. Routine vessel maintenance and repairs that do not improve or extend asset lives are charged to expense as incurred. Deferred amounts are included on the consolidated balance sheets in non-current other assets. Amortized amounts are charged to operating expenses in the consolidated statements of income. Changes in deferred dry-docking costs are included in the consolidated statements of cash flows in cash flows from operating activities.

Property: Property is stated at cost, net of accumulated depreciation and amortization. Expenditures for major renewals and betterments are capitalized. Replacements, maintenance, and repairs that do not improve or extend asset lives are charged to expense as incurred. Upon acquiring real estate that is deemed a business, the Company records land, buildings, leases above and below market, and other intangible assets based on their fair values. Due diligence costs are expensed as incurred.

Depreciation: Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives of property are as follows:

Classification	Range of Life (in years)

Vessels	10 to 40
Buildings	10 to 40
Water, power and sewer systems	5 to 50
Machinery and equipment	2 to 35
Other property improvements	3 to 35

Real Estate Developments: Expenditures for real estate developments are capitalized during construction and are classified as Real Estate Developments on the consolidated balance sheets. When construction is substantially complete, the costs are reclassified as either Real Estate Held for Sale or Property, based upon the Company's intent to either sell the completed asset or to hold it as an investment property, respectively. Cash flows related to real estate developments are classified as either operating or investing activities, based upon the Company's intention to sell the property or to retain ownership of the property as an investment following completion of construction.

For development projects, capitalized costs are allocated using the direct method for expenditures that are specifically associated with the unit being sold and the relative-sales-value method for expenditures that benefit the entire project. Capitalized development costs typically include costs related to land acquisition, grading, roads, water and sewage systems, landscaping, capitalized interest, and project amenities. Direct overhead costs incurred after the development project is substantially complete, such as utilities, maintenance, and real estate taxes, are charged to selling, general, and administrative expense as incurred. All indirect overhead costs are charged to selling, general, and administrative costs as incurred.

Capitalized Interest: Interest costs incurred in connection with significant expenditures for real estate developments, the construction of assets, or investments in joint ventures are capitalized during the period in which activities necessary to get the asset ready for its intended use are in progress. Capitalization of interest is discontinued when the asset is substantially complete and ready for its intended use. Capitalization of interest on investments in joint ventures is recorded until the underlying investee commences its principal operations, which is typically when the investee has other-than-ancillary revenue generation. Total interest cost incurred was $25 million in 2011 and $26 million each year in 2010 and 2009. Capitalized interest in 2011, 2010, and 2009 was not material.

Impairment of Long-Lived Assets and Finite-Lived Intangible Assets: Long-lived assets, including finite-lived intangible assets, are reviewed for possible impairment when events or circumstances indicate that the carrying value may not be recoverable. In such an evaluation, the estimated future undiscounted cash flows generated by the asset are compared with the amount recorded for the asset to determine if its carrying value is not recoverable. If this review determines that the recorded value will not be recovered, the amount recorded for the asset is reduced to estimated fair value. The Company has evaluated certain long-lived assets, including intangible assets, for impairment; however, no material impairment charges were recorded in 2011, 2010, and 2009 as a result of this process. These asset impairment analyses are highly subjective because they require management to make assumptions and apply considerable judgments to, among others, estimates of the timing and amount of future cash flows, expected useful lives of the assets, uncertainty about future events, including changes in economic conditions, changes in operating performance, changes in the use of the assets, and ongoing cost of maintenance and improvements of the assets, and thus, the accounting estimates may change from period to period. If management uses different assumptions or if different conditions occur in future periods, the Company's financial condition or its future operating results could be materially impacted.

Impairment of Investments: The Company's investments in unconsolidated affiliates are reviewed for impairment whenever there is evidence that fair value may be below carrying cost. An investment is written down to fair value if fair value is below carrying cost and the impairment is other-than-temporary. In evaluating the fair value of an investment and whether any identified impairment is other-than-temporary, significant estimates and considerable judgments are involved. These estimates and judgments are based, in part, on the Company's current and future evaluation of economic conditions in general, as well as a joint venture's current and future plans. Additionally, these impairment calculations are highly subjective because they also require management to make assumptions and apply judgments to estimates regarding the timing and amount of future cash flows, probabilities related to various cash flow scenarios, and appropriate discount rates based on the perceived risks, among others. In evaluating whether an impairment is other-than-temporary, the Company considers all available information, including the length of time and extent of the impairment, the financial condition and near-term prospects of the affiliate, the Company's ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value, and projected industry and economic trends, among others. Changes in these and other assumptions could affect the projected operational results and fair value of the unconsolidated affiliates, and accordingly, may require valuation adjustments to the Company's investments that may materially impact the Company's financial condition or its future operating results. For example, if current market conditions deteriorate significantly or a joint venture's plans change materially, impairment charges may be required in future periods, and those charges could be material.

Continued weakness in the real estate sector, difficulty in obtaining or renewing project-level financing, and changes in the Company's development strategy, among other factors, may affect the value or feasibility of certain development projects owned by the Company or by its joint ventures and could lead to additional impairment charges in the future.

Impairment of Vessels: The Company operates an integrated network of vessels, containers, and terminal equipment; therefore, in evaluating impairment, the Company groups its assets at the ocean transportation entity level, which represents the lowest level for which identifiable cash flows are available. The Company's vessels and equipment are reviewed for possible impairment when events or circumstances, such as recurring operating losses, indicate that their carrying values may not be recoverable. In evaluating impairment, the estimated future undiscounted cash flows generated by the asset group are compared with the amount recorded for the asset group to determine if its carrying value is not recoverable. If this review determines that the recorded value will not be recovered, the amount recorded for the asset group is reduced to estimated fair value. These asset impairment loss analyses are highly subjective because they require management to make assumptions and apply considerable judgments to, among other things, estimates of the timing and amount of future cash flows, expected useful lives of the assets, uncertainty about future events, including changes in economic conditions, changes in operating performance, changes in the use of the assets, and ongoing costs of maintenance and improvements of the assets, and thus, the accounting estimates may change from period to period. If management uses different assumptions or if different conditions occur in future periods, the Company's financial condition or its future operating results could be materially impacted. To date, the Company has not recorded any impairment related to its vessels.

Goodwill and Intangible Assets: Goodwill and intangibles are recorded on the consolidated balance sheets as other non-current assets. Recorded goodwill is related to the acquisition of logistic service entities and related earnout obligations. Recorded intangible assets are related to logistic service entity acquisitions as well as the acquisition of commercial properties. The Company reviews goodwill for potential impairment on an annual basis and whenever events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. There were no impairments of goodwill in 2011, 2010, or 2009.

The changes in the carrying amount of goodwill for the years ended December 31, 2011 and 2010 were as follows (in millions):

	Goodwill

Balance, December 31, 2009	$	27
Additions		--
Balance, December 31, 2010		27
Additions		--
Balance, December 31, 2011	$	27

Intangible assets for the years ended December 31 included the following (in millions):

	2011							2010
	Gross							Gross
	Carrying			Accumulated				Carrying			Accumulated
	Amount			Amortization				Amount			Amortization
Amortized intangible assets:
Customer lists		$	12		$	(6	)		$	12		$	(5	)
In-place leases			15			(9	)			15			(7	)
Other			11			(8	)			11			(5	)
Total assets		$	38		$	(23	)		$	38		$	(17	)

Aggregate intangible asset amortization was $6 million, $5 million, and $4 million for 2011, 2010, and 2009, respectively. Estimated amortization expenses related to intangibles over the next five years are as follows (in millions):

	Estimated Amortization

2012	$	3
2013		3
2014		2
2015		2
2016		1

Revenue Recognition: The Company has a wide variety of revenue sources, including, container shipping services, logistics services, property sales, commercial property rentals, and the sales of raw sugar and molasses. Before recognizing revenue, the Company assesses the underlying terms of the transaction to ensure that recognition meets the requirements of relevant accounting standards. In general, the Company recognizes revenue when persuasive evidence of an arrangement exists, delivery of the service or product has occurred, the sales price is fixed or determinable, and collectibility is reasonably assured.

Voyage Revenue Recognition: Voyage revenue is recognized ratably over the duration of a voyage based on the relative transit time in each reporting period, commonly referred to as the percentage-of-completion method. Voyage expenses are recognized as incurred.

Logistics Services Revenue Recognition: The revenue for logistics services includes the total amount billed to customers for transportation services. The primary costs include purchased transportation services. Revenue and the related purchased transportation costs are recognized based on relative transit time, commonly referred to as the percentage-of-completion method. The Company reports revenue on a gross basis. The Company serves as principal in transactions because it is responsible for the contractual relationship with the customer, has latitude in establishing prices, has discretion in supplier selection, and retains credit risk.

Real Estate Sales Revenue Recognition: Sales are recorded when the risks and rewards of ownership have passed to the buyers (generally on closing dates), adequate initial and continuing investments have been received, and collection of remaining balances, if any, is reasonably assured. For certain development projects that have continuing post-closing involvement and for which total revenue and capital costs are reasonably estimable, the Company uses the percentage-of-completion method for revenue recognition. Under this method, the amount of revenue recognized is based on development costs that have been incurred through the reporting period as a percentage of total expected development cost associated with the development project. This generally results in a stabilized gross margin percentage, but requires significant judgment and estimates.

Real Estate Leasing Revenue Recognition: Real estate leasing revenue is recognized on a straight-line basis over the terms of the related leases, including periods for which no rent is due (typically referred to as “rent holidays”). Differences between revenues recognized and amounts due under respective lease agreements are recorded as increases or decreases, as applicable, to deferred rent receivable. Also included in rental revenue are certain tenant reimbursements and percentage rents determined in accordance with the terms of the leases. Income arising from tenant rents that are contingent upon the sales of the tenant exceeding a defined threshold are recognized only after the contingency has been resolved (e.g., sales thresholds have been achieved).

Sugar and Molasses Revenue Recognition: Revenue from bulk raw sugar sales is recorded when title to the product and risk of loss passes to third parties (generally this occurs when the product is shipped or delivered to customers) and when collection is reasonably assured.

Non-voyage Ocean Transportation Costs: Depreciation, charter hire, terminal operating overhead, and general and administrative expenses are charged to expense as incurred.

Agricultural Costs: Costs of growing and harvesting sugar cane are charged to the cost of inventory in the year incurred and to cost of sales as sugar is sold.

Discontinued Operations: The sales of certain income-producing assets are classified as discontinued operations if the operations and cash flows of the assets clearly can be distinguished from the remaining assets of the Company, if cash flows for the assets have been, or will be, eliminated from the ongoing operations of the Company, if the Company will not have a significant continuing involvement in the operations of the assets sold, and if the amount is considered material. Certain assets that are “held-for-sale,” based on the likelihood and intention of selling the property within 12 months, are also treated as discontinued operations. Upon reclassification, depreciation ceases on assets reclassified as “held-for-sale.” Sales of land not under lease and residential houses and lots are generally considered inventory and are not included in discontinued operations. See also Note 3 regarding Matson's termination of its second China service in the third quarter of 2011 that has been classified as discontinued operations.

Employee Benefit Plans: Certain Ocean Transportation subsidiaries are members of the Pacific Maritime Association (“PMA”) and the Hawaii Stevedoring Industry Committee, which negotiate multiemployer pension plans covering certain shoreside bargaining unit personnel. The subsidiaries directly negotiate multiemployer pension plans covering other bargaining unit personnel. Pension costs are accrued in accordance with contribution rates established by the PMA, the parties to a plan or the trustees of a plan. Several trusteed, non-contributory, single-employer defined benefit plans and defined contribution plans cover substantially all other employees.

Share-Based Compensation: The Company records compensation expense for all share-based payment awards made to employees and directors. The Company's various equity plans are more fully described in Note 12.

Basic and Diluted Earnings per Share (“EPS”) of Common Stock: Basic earnings per share is determined by dividing net income by the weighted-average common shares outstanding during the year. The calculation of diluted earnings per share includes the dilutive effect of unexercised non-qualified stock options and non-vested stock units. The computation of weighted average dilutive shares outstanding excluded non-qualified stock options to purchase 1.4 million, 1.6 million, and 1.8 million shares of common stock for 2011, 2010, and 2009, respectively. These amounts were excluded because the options' exercise prices were greater than the average market price of the Company's common stock for the periods presented and, therefore, the effect would be anti-dilutive.

The denominator used to compute basic and diluted earnings per share is as follows (in millions):

	2011	2010	2009

Denominator for basic EPS: weighted average shares outstanding	41.6	41.2	41.0
Effect of dilutive securities:
Outstanding stock options and non-vested stock units	0.4	0.3	0.1
Denominator for diluted EPS: weighted average shares outstanding	42.0	41.5	41.1

On January 25, 2012, the Company granted to employees, non-qualified stock options exercisable into 132,681 shares of common stock at $46.27 per share, 111,853 shares of time-based restricted stock units, and 41,064 shares of performance-based restricted stock units. The time-based restricted stock units vests ratably over three years and the performance-based restricted stock units vests ratably over three years, provided that the one-year performance objectives are achieved.

Income Taxes: The Company makes certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments are applied in the calculation of tax credits, tax benefits and deductions, and in the calculation of certain deferred tax assets and liabilities, which arise from differences in the timing of recognition of revenue and expense for tax and financial statement purposes. Deferred tax assets and deferred tax liabilities are adjusted to the extent necessary to reflect tax rates expected to be in effect when the temporary differences reverse. Adjustments may be required to deferred tax assets and deferred tax liabilities due to changes in tax laws and audit adjustments by tax authorities. To the extent adjustments are required in any given period, the adjustments would be included within the tax provision in the consolidated statements of income or consolidated balance sheets.

The Company has not recorded a valuation allowance for its deferred tax assets. A valuation allowance would be established if, based on the weight of available evidence, management believes that it is more likely than not that some portion or all of a recorded deferred tax asset would not be realized in future periods.

Restricted Net Assets of Subsidiaries: Matson is subject to restrictions on the transfer of net assets under certain debt agreements. These restrictions have not had any effect on the Company's shareholder dividend policy, and the Company does not anticipate that these restrictions will have any impact in the future. At December 31, 2011, the amount of net assets of Matson that may not be transferred to the Company was approximately $259 million.

Derivative Financial Instruments: The Company periodically uses derivative financial instruments such as interest rate hedging products to mitigate risks. The Company's use of derivative instruments is limited to reducing its risk exposure by utilizing interest rate agreements that are accounted for as hedges. The Company does not hold or issue derivative instruments for trading or other speculative purposes nor does it use leveraged financial instruments. All derivatives are recognized in the consolidated balance sheets at their fair value. At December 31, 2011 and 2010, there were no material derivative instruments held by the Company.

Comprehensive Income (Loss): Comprehensive income (loss) includes all changes in Shareholders' Equity, except those resulting from capital stock transactions. Accumulated other comprehensive loss principally includes amortization of deferred pension/postretirement costs. The components of accumulated other comprehensive loss, net of taxes, were as follows for the years ended December 31 (in millions):

	2011			2010			2009
Unrealized components of benefit plans:
Pension plans	$	(90	)	$	(73	)	$	(73	)
Postretirement plans		1			(4	)		--
Non-qualified benefit plans		(1	)		(4	)		(6	)
SSAT pension plan and other		(2	)		(1	)		(2	)
Accumulated other comprehensive loss	$	(92	)	$	(82	)	$	(81	)

Environmental Costs: Environmental exposures are recorded as a liability and charged to operating expense when the environmental liability has been incurred and can be reasonably estimated. If the aggregate amount of the liability and the amount and timing of cash payments for the liability are fixed or reliably determinable, the environmental liability is discounted. An environmental liability has been incurred when both of the following conditions have been met: (i) litigation has commenced or a claim or an assessment has been asserted, or, based on available information, commencement of litigation or assertion of a claim or an assessment is probable, and (ii) based on available information, it is probable that the outcome of such litigation, claim, or assessment will be unfavorable. If a range of probable loss is determined, the Company will record the obligation at the low end of the range unless another amount in the range better reflects the expected loss. Certain costs, however, are capitalized in Property when the obligation is recorded, if the cost (1) extends the life, increases the capacity or improves the safety and efficiency of property owned by the Company, (2) mitigates or prevents environmental contamination that has yet to occur and that otherwise may result from future operations or activities, or (3) is incurred or discovered in preparing for sale property that is classified as “held–for-sale.” The amounts of capitalized environmental costs were not material at December 31, 2011 or 2010.

Self-Insured Liabilities: The Company is self-insured for certain losses that include, but are not limited to, employee health, workers' compensation, general liability, real and personal property, and real estate construction warranty and defect claims. When feasible, the Company obtains third-party insurance coverage to limit its exposure to these claims. When estimating its self-insured liabilities, the Company considers a number of factors, including historical claims experience, demographic factors, and valuations provided by independent third-parties. Periodically, management reviews its assumptions and the valuations provided by independent third-parties to determine the adequacy of the Company's self-insured liabilities.

Impact of Recently Issued Accounting Standards: In June 2011, the Financial Accounting Standards Board (“FASB”) issued amended guidance that requires an entity to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The revised standard eliminates the option to present the components of other comprehensive income as part of the statement of equity. The revised standard is to be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. The Company expects to adopt the revised standard effective January 1, 2012. The standard will change the presentation of the Company's financial statements but will not affect the calculation of net income, comprehensive income or earnings per share.

In September 2011, the FASB issued amended guidance governing the testing of goodwill for impairment. The revised standard allows an entity to use a qualitative evaluation about the likelihood of goodwill impairment to determine whether it should calculate the fair value of a reporting unit. If, after considering all relevant events and circumstances, an entity determines it is more likely than not that the fair value of a reporting unit is below its carrying amount, then the entity is required to perform the first step of the two-step impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount. If the carrying amount of a reporting unit exceeds its fair value, then the entity will be required to perform the second step of the goodwill impairment test to measure the amount of the impairment loss, if any. The guidance also expands upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted. The Company expects to adopt the revised standard effective January 1, 2012. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial position or results of operation.

In September 2011, the FASB issued amended guidance requiring additional disclosures about an employer's financial obligations to multiemployer pension plans. The required disclosures include, among others: the amount of employer contributions made to each significant plan and to all plans in the aggregate; an indication of whether the employer's contributions represent more than five percent of total contributions to the plan; an indication of which plans, if any, are subject to a funding improvement plan; the expiration date(s) of collective bargaining agreement(s) and any minimum funding arrangements; the most recent certified funded status of the plan, as determined by the plan's so-called “zone status,” which is required by the Pension Protection Act of 2006; and a description of the nature and effect of any changes affecting comparability for each period in which a statement of income is presented. The guidance was effective for the Company for the year ended December 31, 2011. The adoption of this standard did not have a material impact on the Company's consolidated financial position or results of operation.

Rounding: Amounts in the consolidated financial statements and Notes are rounded to millions, but per-share calculations and percentages were determined based on amounts before rounding. Accordingly, a recalculation of some per-share amounts and percentages, if based on the reported data, may be slightly different.

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2011

DISCONTINUED OPERATIONS [Abstract]

DISCONTINUED OPERATIONS

2. DISCONTINUED OPERATIONS

The Company regularly evaluates and may sell selected properties from its portfolio when it believes the value of an asset has been maximized and the full fair market value for the asset can be realized. During 2011, the Company sold Arbor Park Shopping Center, a retail property in Texas, Wakea Business Center II, a commercial facility on Maui, and a leased Maui property, which have been classified as discontinued operations. Additionally, in connection with the termination of Matson's second China service (“CLX2”) (see Note 3), the results of operations for the CLX2 component have been reclassified from the Transportation segment to discontinued operations for all periods presented. The carrying amount of assets and liabilities attributable to the CLX2 component were not material to the Company in any of the periods presented and, accordingly, have not been presented separately.

During 2010, the sales of a retail center on Oahu, a three-building industrial park in Ontario, California, an industrial warehouse property in Kent, Washington, a retail center on Maui, and various leased-fee parcels have been classified as discontinued operations. Additionally, a retail property on Maui that was held for sale at year-end was classified as discontinued operations.

During 2009, the sales of an office/retail property on Oahu, a retail shopping center in California, an office building in Arizona, an industrial property on Oahu, an industrial property in California, and various parcels on Maui have been classified as discontinued operations. Additionally, a retail property on Oahu was classified as discontinued operations (the Company sold the property in January 2010).

The results of operations from these properties in prior years were reclassified from continuing operations to discontinued operations to conform to the current year's accounting presentation. Consistent with the Company's intention to reinvest the sales proceeds into new investment property, the proceeds from the sales of property treated as discontinued operations were deposited in escrow accounts for tax-deferred reinvestment in accordance with Section 1031 of the Internal Revenue Code.

The revenue, operating profit, income tax expense and after-tax effects of these transactions for 2011, 2010, and 2009, were as follows (in millions, except per share amounts):

	2011			2010			2009

Real Estate Sales Revenue (Real Estate Sales Segment)*	$	46		$	117		$	110
Real Estate Leasing Revenue (Real Estate Leasing Segment)		2			10			27
CLX2 Revenue (Transportation segment)		93			28			--
Real Estate Sales Operating Profit*	$	23		$	49		$	44
Real Estate Leasing Operating Profit		1			6			15
CLX2 Operating Loss		(57	)		(19	)		--
Total Operating Profit (Loss) Before Taxes		(33	)		36			59
Income Tax Expense (Benefit)		(12	)		13			22
Income (Loss) from Discontinued Operations	$	(21	)	$	23		$	37
Basic Earnings Per Share	$	(0.50	)	$	0.55		$	0.89
Diluted Earnings Per Share	$	(0.50	)	$	0.55		$	0.89

Represents the sales proceeds and the gain on sale of income producing properties that are classified as discontinued operations.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 43-48

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 205

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-Paragraph 1

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Paragraph 3

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 3

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Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 45

-Paragraph 5

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Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

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-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

+ Details

EXIT ACTIVITIES

12 Months Ended

Dec. 31, 2011

EXIT ACTIVITIES [Abstract]

EXIT ACTIVITIES

3. EXIT ACTIVITIES

In the third quarter of 2011, the Company finalized a decision to terminate Matson's CLX2 service, due to the longer-term outlook for sustained high fuel prices and increasingly volatile Transpacific rates. As of the termination date, the Company had established and approved plans to (i) return to lessors or sub-charter the five vessels used in the service (ii) off-hire or dispose of certain excess container equipment and (iii) terminate office contracts and employees. These plans were substantially completed as of September 30, 2011; however, the off-hiring of excess leased containers is expected to continue through 2012 and two of the five ships are expected to be sub-chartered until they are returned to the lessors in July 2012. The remaining three ships were returned to the lessors as of September 30, 2011 pursuant to the terms of the one-year charter contacts for these vessels. As of December 31, 2011, the Company had recorded a liability of approximately $5.0 million in other current liabilities, representing the fair value of the obligations arising from exit activities associated with the termination of the service. The liability, which is principally related to future charter lease payments, net of sub-charter revenue, is expected to be substantially settled by July 31, 2012. There were no material assets owned by the Company that were associated with the CLX2 service at December 31, 2011. Overall, including charges incurred through December 31, 2011, the Company expects to incur total cash and non-cash charges of approximately $14.6 million by September 30, 2012 related to vessel charter obligations, the off-hiring or disposal of containers, and the termination of an office lease and employees.

The following table provides information regarding liabilities associated with the termination of CLX2 (in millions):

	Container and Charter Liabilities			Other Contractual Liabilities			Total

Balance at June 30, 2011	$	--		$	--		$	--
Expenses incurred		11.8			0.7			12.5
Amounts paid		(7.0	)		(0.6	)		(7.5	)
Balance at December 31, 2011	$	4.8		$	0.1		$	5.0

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details

INVESTMENTS IN AFFILIATES

12 Months Ended

Dec. 31, 2011

INVESTMENTS IN AFFILIATES [Abstract]

INVESTMENTS IN AFFILIATES

4. INVESTMENTS IN AFFILIATES

At December 31, 2011 and 2010, investments consisted principally of equity in limited liability companies. The Company has the ability to exercise significant influence over the operating and financial policies of these investments and, accordingly, accounts for its investments using the equity method of accounting. Consolidated retained earnings at December 31, 2011 that represent undistributed earnings of investments in affiliates was approximately $41 million. Dividends and distributions from unconsolidated affiliates totaled $6 million in 2011 and $8 million for each of the years ended December 31, 2010 and 2009.

The Company's investments in affiliates are summarized, by industry, as follows (in millions):

	2011		2010
Investment in Unconsolidated Affiliated Companies:
Real Estate and Other	$	291	$	276
Transportation		56		53
Total Investments	$	347	$	329

Operating results include the Company's proportionate share of net income from its equity method investments. A summary of financial information for the Company's equity method investments by industry at December 31 is as follows (in millions):

	2011						2010

	Real Estate			Transportation			Real Estate			Transportation

Current assets		$	21		$	90		$	42		$	88
Noncurrent assets			612			119			623			111
Total assets		$	633		$	209		$	665		$	199

Current liabilities		$	17		$	42		$	15		$	39
Noncurrent liabilities			112			17			164			22
Total liabilities		$	129		$	59		$	179		$	61

	Year Ended December 31,
	2011			2010		2009
Real Estate:
Operating revenue	$	20		$	30	$	14
Operating costs and expenses		32			23		9
Operating (loss) income	$	(12	)	$	7	$	5
Income (loss) from continuing operations	$	(15	)	$	7	$	1
Net income (loss)	$	(15	)	$	7	$	1

Transportation:
Operating revenue	$	579		$	568	$	476
Operating costs and expenses		572			548		470
Operating income	$	7		$	20	$	6
Income from continuing operations*	$	26		$	36	$	20
Net income	$	26		$	36	$	20

* Includes earnings from equity method investments held by the investee.

Real Estate: In April 2002, the Company entered into a joint venture with DMB Communities II, an affiliate of DMB Associates, Inc., an Arizona-based developer of master-planned communities (“DMB”), for the development of Kukui`ula, a master planned resort residential community located in Poipu, Kauai, planned for up to 1,500 resort residential units. The capital contributed by A&B to the joint venture, including the value of land initially contributed, net of joint venture earnings and losses, was approximately $245 million as of December 31, 2011. Due to the joint venture's obligation to complete improvements and amenities, the joint venture uses the percentage-of-completion method for revenue recognition. The Company does not have a controlling financial interest in the joint venture, but exercises significant influence over the operating and financial policies of the venture, and therefore, accounts for its investment using the equity method. Due to the complex nature of cash distributions to the members, net income of the joint venture is allocated to the members using the hypothetical liquidation at book value (“HLBV”) method. Under the HLBV method, joint venture income or loss is allocated to the members based on the period change in each member's claim on the net assets of the venture, excluding capital contributions and distributions made during the period.

In 2011, the Company recorded a $6.4 million reduction in the carrying value of its investment in Waiawa, a residential joint venture on Oahu, due to the joint venture's termination of its development plans. The Company's remaining investment in the venture, which is not material, represents the Company's share of expected cash proceeds from the pending sale of the joint venture lands.

The Company also had investments in various other joint ventures that operate or develop real estate. The Company does not have a controlling financial interest, but has the ability to exercise significant influence over the operating and financial policies of these joint ventures and, accordingly, accounts for its investments in these real estate ventures using the equity method of accounting.

Transportation: Matson owns a 35-percent membership interest in an LLC with SSA Marine Inc., named SSA Terminals, LLC (“SSAT”), which provides stevedoring and terminal services at six terminals in three West Coast ports to the Company and other shipping lines. Matson accounts for its interest in SSAT under the equity method of accounting. The cost of ocean transportation services included approximately $175 million, $157 million, and $135 million for 2011, 2010, and 2009, respectively, paid to this unconsolidated affiliate for terminal services.

The Company's equity in earnings of its unconsolidated transportation affiliate were included on the consolidated statements of income with the cost of ocean transportation services because the affiliate is integrally related to the Company's Ocean Transportation segment, providing all terminal services to Matson on the U.S. West Coast.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References+ Details

PROPERTY

12 Months Ended

Dec. 31, 2011

PROPERTY [Abstract]

PROPERTY

5. PROPERTY

Property on the consolidated balance sheets includes the following (in millions):


	As of December 31, 2011
($ in millions)	Cost		Accumulated Depreciation			Net Book Value
Vessels	$	1,232	$	(641	)	$	591
Machinery and equipment		675		(444	)		231
Buildings		564		(95	)		469
Land		248		-			248
Water, power and sewer systems		121		(87	)		34
Other property improvements		122		(61	)		61
Total	$	2,962	$	(1,328	)	$	1,634


	As of December 31, 2010
($ in millions)	Cost		Accumulated Depreciation			Net Book Value
Vessels	$	1,220	$	(600	)	$	620
Machinery and equipment		661		(425	)		236
Buildings		557		(86	)		471
Land		236		-			236
Water, power and sewer systems		119		(84	)		35
Other property improvements		108		(55	)		53
Total	$	2,901	$	(1,250	)	$	1,651

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

CAPITAL CONSTRUCTION FUND	12 Months Ended
CAPITAL CONSTRUCTION FUND	Dec. 31, 2011
CAPITAL CONSTRUCTION FUND [Abstract]
CAPITAL CONSTRUCTION FUND	6. CAPITAL CONSTRUCTION FUND Matson is party to an agreement with the United States government that established a Capital Construction Fund (“CCF”) under provisions of the Merchant Marine Act, 1936, as amended. The agreement has program objectives for the acquisition, construction, or reconstruction of vessels and for repayment of existing vessel indebtedness. Deposits to the CCF are limited by certain applicable earnings. Such deposits are tax deductions in the year made; however, they are taxable, with interest payable from the year of deposit, if withdrawn for general corporate purposes or other non-qualified purposes, or upon termination of the agreement. Qualified withdrawals for investment in vessels and certain related equipment do not give rise to a current tax liability, but reduce the depreciable bases of the vessels or other assets for income tax purposes. Amounts deposited into the CCF are a preference item for calculating federal alternative minimum taxable income. Deposits not committed for qualified purposes within 25 years from the date of deposit will be treated as non-qualified withdrawals over the subsequent five years. Under the terms of the CCF agreement, Matson may designate certain qualified earnings as “accrued deposits” or may designate, as obligations of the CCF, qualified withdrawals to reimburse qualified expenditures initially made with operating funds. Such accrued deposits to, and withdrawals from, the CCF are reflected on the consolidated balance sheets either as obligations of the Company's current assets or as receivables from the CCF. At December 31, 2011 and 2010, Matson accrued a $4.4 million withdrawal from the CCF and a $4.4 million deposit to the CCF, resulting in a zero net balance in the consolidated balance sheets.

NOTES PAYABLE AND LONG-TERM DEBT

12 Months Ended

Dec. 31, 2011

NOTES PAYABLE AND LONG-TERM DEBT [Abstract]

NOTES PAYABLE AND LONG-TERM DEBT

7. NOTES PAYABLE AND LONG-TERM DEBT

At December 31, 2011 and 2010, notes payable and long-term debt consisted of the following (in millions):

	2011			2010

Revolving Credit loans, (1.29% for 2011 and 0.64% for 2010)	$	173		$	108
Title XI Bonds:
5.27%, payable through 2029, secured by MV Maunawili		40			42
5.34%, payable through 2028, secured by MV Manukai		37			40
Term Loans:
6.90%, payable through 2020		100			100
4.79%, payable through 2020, secured by MV Manulani		60			66
5.55%, payable through 2017		50			50
5.53%, payable through 2016		42			50
5.56%, payable through 2016		25			25
4.10%, payable through 2012		4			12
6.20%, payable through 2013, secured by Deere Valley Center		10			11
6.38%, payable through 2017, secured by Midstate 99 Distribution Ctr.		8			8
5.50%, payable through 2014, secured by Little Cottonwood Center		6			6
5.88%, payable through 2014, secured by Midstate 99 Distribution Ctr.		3			3
0.00%, payable through 2012		1			1
Total debt		559			522
Less current portion		(52	)		(136	)
Long-term debt	$	507		$	386

Long-term Debt Maturities: At December 31, 2011, debt maturities during the next five years and thereafter are $52 million in 2012, $45 million in 2013, $54 million in 2014, $45 million in 2015, $206 million in 2016 (which includes $161 million of revolving credit loans that mature in 2016 that the Company expects to refinance prior to maturity), and $157 million thereafter.

Revolving Credit Facilities: The Company has two revolving senior credit facilities with seven commercial banks that provide for an aggregate commitment of $355 million, which consist of a $230 million facility and a $125 million facility for A&B and Matson, respectively. The facilities expire in August 2016. Amounts drawn under the facilities bear interest at London Interbank Offered Rate (“LIBOR”) plus a margin based on a ratio of debt to earnings before interest, taxes, depreciation and amortization pricing grid. The agreement contains certain restrictive covenants, the most significant of which requires the maintenance of minimum shareholders' equity levels, minimum unencumbered property investment values, and a maximum ratio of debt to earnings before interest, depreciation, amortization and taxes. At December 31, 2011, $173 million was outstanding, $19 million in letters of credit had been issued against the facilities, and $163 million remained available for borrowing.

The Company has a replenishing three-year unsecured note purchase and private shelf agreement with Prudential Investment Management, Inc. and its affiliates (collectively, “Prudential”) under which the Company may issue notes in an aggregate amount up to $400 million, less the sum of all principal amounts then outstanding on any notes issued by the Company or any of its subsidiaries to Prudential and the amount of any notes that are committed under the note purchase agreement. The Prudential agreement contains certain restrictive covenants that are substantially the same as the covenants contained in the revolving senior credit facilities. The ability to draw additional amounts under the Prudential facility expires on April 19, 2012 and borrowings under the shelf facility bear interest at rates that are determined at the time of the borrowing. At December 31, 2011, approximately $120 million was available under the facility.

The unused borrowing capacity under all revolving credit and term facilities as of December 31, 2011 totaled $283 million.

Title XI Bonds: In August 2004, Matson partially financed the delivery of the MV Maunawili with U.S. government Guaranteed Ship Financing Bonds, more commonly known as Title XI bonds. These bonds are secured by the MV Maunawili. In September 2003, Matson partially financed the delivery of the MV Manukai with Title XI bonds, which are secured by the MV Manukai.

Vessel Secured Term Debt: Matson has an Amended and Restated Note Agreement with The Prudential Insurance Company of America and Pruco Life Insurance. Included in the agreement are Series A and Series B notes. The Series B note has a term of 15 years and is secured by the MV Manulani. The Series A note was paid off in 2010.

Real EstateSecured Term Debt: In October 2010, the Company assumed secured debt in connection with the purchase of Little Cottonwood Center, a retail center in Sandy, Utah. In December 2008, A&B Properties, Inc. assumed approximately secured debt under two notes in connection with the purchase of the Midstate 99 Distribution Center in Visalia, California. In June 2005, A&B Properties, Inc. assumed secured debt in connection with the purchase of Deere Valley Center, an office building in Phoenix, Arizona.

The approximate book values of assets used in the Transportation and Real Estate Industries pledged as collateral under the foregoing credit agreements at December 31, 2011 were $361 million and $57 million, respectively. There were no assets used in the Agribusiness segment that were pledged as collateral.

LEASES-THE COMPANY AS LESSEE

12 Months Ended

Dec. 31, 2011

LEASES - THE COMPANY AS LESSEE [Abstract]

LEASES-THE COMPANY AS LESSEE

8. LEASES – THE COMPANY AS LESSEE

Principal non-cancelable operating leases include land, office and terminal facilities, container ships, containers and equipment, leased for periods that expire through 2036. Management expects that, in the normal course of business, most operating leases will be renewed or replaced by other similar leases. Rental expense under operating leases totaled $53 million, $45 million, and $30 million for 2011, 2010, and 2009, respectively. Rental expense for operating leases that provide for future escalations are accounted for on a straight-line basis.

Future minimum payments under non-cancelable operating leases as of December 31, 2011 were as follows (in millions):

	Operating Leases

2012	$	26
2013		17
2014		15
2015		11
2016		6
Thereafter		16
Total minimum lease payments	$	91

In addition to the future minimum lease payments above, the Company has an operating lease for terminal facilities in Honolulu that includes a minimum annual commitment, which is calculated by the lessor based on capital improvements by the lessor and an allocation of lessor operating expenses. The Company's payments of volume-based charges to the lessor must meet or exceed the minimum annual commitment. The Company's volume-based payments to the lessor were approximately $27 million in 2011, $21 million in 2010, and $16 million in 2009, and there were no minimum annual guarantee payments in any year.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details

LEASES-THE COMPANY AS LESSOR

12 Months Ended

Dec. 31, 2011

LEASES - THE COMPANY AS LESSOR [Abstract]

LEASES-THE COMPANY AS LESSOR

9. LEASES – THE COMPANY AS LESSOR

The Company leases land, buildings, and land improvements under operating leases. The historical cost of, and accumulated depreciation on, leased property at December 31, 2011 and 2010 were as follows (in millions):

	2011			2010

Leased property - real estate	$	844		$	820
Less accumulated depreciation		(114	)		(103	)
Property under operating leases - net	$	730		$	717

Total rental income under these operating leases for each of the three years in the period ended December 31, 2011 was as follows (in millions):

	2011		2010		2009

Minimum rentals	$	74	$	70	$	78
Contingent rentals (based on sales volume)		2		2		3
Total	$	76	$	72	$	81

Future minimum rentals on non-cancelable leases at December 31, 2011 were as follows (in millions):

	Operating Leases

2012	$	69
2013		60
2014		50
2015		41
2016		28
Thereafter		110
Total	$	358

- Definition

The entire disclosure for operating leases of a lessor. This may inlcude a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References+ Details

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2011

EMPLOYEE BENEFIT PLANS [Abstract]

EMPLOYEE BENEFIT PLANS

10. EMPLOYEE BENEFIT PLANS

The Company has funded single-employer defined benefit pension plans that cover substantially all non-bargaining unit employees and certain bargaining unit employees. In addition, the Company has plans that provide certain retiree health care and life insurance benefits to substantially all salaried and to certain hourly employees. Employees are generally eligible for such benefits upon retirement and completion of a specified number of years of credited service. The Company does not pre-fund these health care and life insurance benefits and has the right to modify or terminate certain of these plans in the future. Certain groups of retirees pay a portion of the benefit costs.

Plan Administration, Investments and Asset Allocations: The Company has an Investment Committee that meets regularly with investment advisors to establish investment policies, direct investments and select investment options. The Investment Committee is also responsible for appointing investment managers. The Company's investment policy permits investments in marketable equity securities, such as domestic and foreign stocks, domestic and foreign bonds, venture capital, real estate investments, and cash equivalents. The Company's investment policy does not permit direct investment in certain types of assets, such as options or commodities, or the use of certain strategies, such as short selling or the purchase of securities on margin.

The Company's investment strategy for its pension plan assets is to achieve a diversified mix of investments that provides for attractive long-term growth with an acceptable level of risk, but also to provide sufficient liquidity to fund ongoing benefit payments. The Company has engaged a number of investment managers to implement various investment strategies to achieve the desired asset class mix, liquidity and risk diversification objectives. The Company's weighted-average asset allocations at December 31, 2011 and 2010, and 2011 year-end target allocation, by asset category, were as follows:

	Target		2011		2010

Domestic equity securities	53	%	59	%	62	%
International equity securities	15	%	14	%	11	%
Debt securities	22	%	17	%	16	%
Real estate	10	%	6	%	4	%
Other and cash	-	-	4	%	7	%
Total	100	%	100	%	100	%

The Company's investments in equity securities primarily include domestic large-cap and mid-cap companies, but also includes an allocation to small-cap and international equity securities. Equity investments do not include any direct holdings of the Company's stock but may include such holdings to the extent that the stock is included as part of certain mutual fund holdings. Debt securities include investment-grade and high-yield corporate bonds from diversified industries, mortgage-backed securities, and U.S. Treasuries. Other types of investments include funds that invest in commercial real estate assets, and to a lesser extent, private equity investments in technology companies.

The expected return on plan assets is principally based on the Company's historical returns combined with the Company's long-term future expectations regarding asset class returns, the mix of plan assets, and inflation assumptions. One-, three-, and five-year pension asset returns (losses) were (4.2) percent, 8.8 percent, and (0.3) percent, respectively, and the long-term average return (since plan inception in 1989) has been approximately 8.0 percent. Over the long-term, the actual returns have generally exceeded the benchmark returns used by the Company to evaluate performance of its fund managers. Due to volatile market performance in recent years, the Company has reduced its long-term rate of return assumption from 8.5 percent in 2009 to 8.25 percent in 2010 and believes that the change is appropriate given the Company's investment portfolio's historical performance and the Company's target asset allocation.

The Company's pension plan assets are held in a master trust and stated at estimated fair value, which is based on the fair values of the underlying investments. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

FASB ASC Topic 820, Fair Value Measurements and Disclosures, as amended, establishes a fair value hierarchy, which requires the pension plans to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The hierarchy places the highest priority on unadjusted quoted market prices in active markets for identical assets or liabilities (level 1 measurements) and assigns the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs within the hierarchy are defined as follows:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2: Significant other observable inputs other than level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect the pension plans' own assumptions about the assumptions that market participants would use in pricing an asset or liability.

If the technique used to measure fair value includes inputs from multiple levels of the fair value hierarchy, the lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.

Equity Securities: Domestic and international common stocks are valued by obtaining quoted prices on recognized and highly liquid exchanges.

Fixed Income Securities: Corporate bonds and U.S. government treasury and agency securities are valued based upon the closing price reported in the market in which the security is traded. U.S. government agency and corporate asset-backed securities may utilize models, such as a matrix pricing model, that incorporates other observable inputs such as cash flow, security structure, or market information, when broker/dealer quotes are not available.

Real Estate, Private Equity, and Insurance Contract Interests: The fair value of real estate fund investments, private equity, and insurance contract interests are determined by the issuer based on the unit values of the funds. Unit values are determined by dividing the fund's net assets by the number of units outstanding at the valuation date. Fair value for underlying investments in real estate is determined through independent property appraisals. Fair value of underlying investments in private equity assets is determined based on information provided by the general partner taking into consideration the purchase price of the underlying securities, developments concerning the investee company subsequent to the acquisition of the investment, financial data and projections of the investee company provided to the general partner, and such other factors as the general partner deems relevant. Insurance contract interests consist of investments in group annuity contracts, which are valued based on the present value of expected future payments.

The fair values of the Company's pension plan assets at December 31, 2011 and 2010, by asset category, are as follows (in millions):

	Fair Value Measurements as of
	December 31, 2011
	Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Cash	$	10	$	10	$	--	$	--
Equity securities:
U.S. large-cap		102		102		--		--
U.S. mid- and small-cap		32		32		--		--
International large-cap		28		28		--		--
International mid-cap		23		23		--		--
Fixed income securities:
U.S. Treasuries		1		--		1		--
Investment grade U.S. corporate bonds		3		--		3		--
High-yield U.S. corporate bonds		10		--		10		--
Mortgage-backed securities		31		--		31		--
Other types of investments:
Real estate partnerships interests		14		--		--		14
Private equity partnership interests (a)		2		--		--		2
Insurance contracts		1		--		--		1
Total	$	257	$	195	$	45	$	17

	Fair Value Measurements as of
	December 31, 2010
	Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Cash	$	17	$	17	$	--	$	--
Equity securities:
U.S. large-cap		136		136		--		--
U.S. mid- and small-cap		40		40		--		--
International large-cap		31		31		--		--
Fixed income securities:
U.S. Treasuries		1		--		1		--
Investment grade U.S. corporate bonds		3		--		3		--
High-yield U.S. corporate bonds		8		--		8		--
Mortgage-backed securities		33		--		33		--
Other types of investments:
Real estate partnerships interests		13		--		--		13
Private equity partnership interests (a)		2		--		--		2
Insurance contracts		1		--		--		1
Total	$	285	$	224	$	45	$	16

(a)	This category represents private equity funds that invest principally in U.S. technology companies.

The table below presents a reconciliation of all pension plan investments measured at fair value on a recurring basis using significant unobservable inputs (level 3) for the years ended December 31, 2011 and 2010 (in millions):

	Fair Value Measurements Using Significant
	Unobservable Inputs (Level 3)

	Real Estate			Private Equity			Insurance		Total

Beginning balance, January 1, 2010	$	23		$	3		$	1	$	27
Actual return on plan assets:
Assets held at the reporting date		3			--			--		3
Assets sold during the period		(1	)		--			--		(1	)
Purchases, sales and settlements		(12	)		(1	)		--		(13	)
Ending balance, December 31, 2010		13			2			1		16
Actual return on plan assets:
Assets held at the reporting date		2			--			--		2
Assets sold during the period		--			--			--		--
Purchases, sales and settlements		(1	)		--			--		(1	)
Ending balance, December 31, 2011	$	14		$	2			1	$	17

Contributions are determined annually for each plan by the Company's pension administrative committee, based upon the actuarially determined minimum required contribution under the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended, the Pension Protection Act of 2006 (the “Act”), and the maximum deductible contribution allowed for tax purposes. The Company did not make any contributions during 2009 to its defined benefit pension plans. In 2011 and 2010, the Company contributed approximately $5 million and $6 million, respectively in each year. The Company's funding policy is to contribute cash to its pension plans so that it meets at least the minimum contribution requirements.

For the plans covering employees who are members of collective bargaining units, the benefit formulas are determined according to the collective bargaining agreements, either using career average pay as the base or a flat dollar amount per year of service. The benefit formulas for the remaining defined benefit plans are based on final average pay or a cash balance formula.

Effective January 1, 2012, the Company froze benefit accruals under its traditional defined benefit plans for non-bargaining unit employees hired before January 1, 2008 and instituted a cash balance defined benefit pension plan. Employees hired after January 1, 2008 also participate in a cash balance defined benefit pension plan. Retirement benefits under the cash balance pension plan are based on a fixed percentage of employee eligible compensation, plus interest. The plan interest credit rate will vary from year-to-year based on the ten-year U.S. Treasury rate.

Benefit Plan Assets and Obligations: The measurement date for the Company's benefit plan disclosures is December 31st of each year. The status of the funded defined benefit pension plan and the unfunded accumulated post-retirement benefit plans at December 31, 2011 and 2010 are shown below (in millions):

	Pension Benefits						Other Post-retirement Benefits
	2011			2010			2011			2010

Change in Benefit Obligation
Benefit obligation at beginning of year	$	355		$	322		$	65		$	54
Service cost		9			8			1			1
Interest cost		20			19			4			3
Plan participants' contributions		--			--			2			3
Actuarial (gain) loss		36			24			(6	)		10
Benefits paid		(18	)		(18	)		(6	)		(6	)
Amendments		(36	)		--			--			--
Benefit obligation at end of year	$	366		$	355		$	60		$	65
Change in Plan Assets
Fair value of plan assets at beginning of year		285			260			--			--
Actual return on plan assets		(15	)		37			--			--
Employer contributions		5			6			--			--
Benefits paid		(18	)		(18	)		--			--
Fair value of plan assets at end of year	$	257		$	285		$	--		$	--

Funded Status and Recognized Liability	$	(109	)	$	(70	)	$	(60	)	$	(65	)

The accumulated benefit obligation for the Company's qualified pension plans was $363 million and $326 million as of December 31, 2011 and 2010, respectively. Amounts recognized on the consolidated balance sheets and in accumulated other comprehensive loss at December 31, 2011 and 2010 were as follows (in millions):

	Pension Benefits						Other Post-retirement Benefits
	2011			2010			2011			2010

Non-current assets	$	1		$	3		$	--		$	--
Current liabilities		--			--			(3	)		(4	)
Non-current liabilities		(110	)		(73	)		(57	)		(61	)
Total	$	(109	)	$	(70	)	$	(60	)	$	(65	)

Net loss (net of taxes)	$	110		$	70		$	(1	)	$	6
Unrecognized prior service (credit) cost (net of taxes)		(20	)		3			--			--
Total	$	90		$	73		$	(1	)	$	6

The information for qualified pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2011 and 2010 is shown below (in millions):

	2011		2010

Projected benefit obligation	$	358	$	349
Accumulated benefit obligation	$	355	$	319
Fair value of plan assets	$	248	$	275

The estimated prior service credit for the defined benefit pension plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2012 is $3 million. The estimated net loss that will be recognized in net periodic pension cost for the defined benefit pension plans in 2012 is $15 million. The estimated net loss and prior service cost for the other defined benefit postretirement plans that will be amortized from accumulated other comprehensive loss into net periodic pension cost in 2012 is negligible.

Unrecognized gains and losses of the post-retirement benefit plans are amortized over five years. Although current health costs are expected to increase, the Company attempts to mitigate these increases by maintaining caps on certain of its benefit plans, using lower cost health care plan options where possible, requiring that certain groups of employees pay a portion of their benefit costs, self-insuring for certain insurance plans, encouraging wellness programs for employees, and implementing measures to mitigate future benefit cost increases.

Components of the net periodic benefit cost and other amounts recognized in other comprehensive loss for the defined benefit pension plans and the post-retirement health care and life insurance benefit plans during 2011, 2010, and 2009, are shown below (in millions):

	Pension Benefits									Other Post-retirement Benefits
	2011			2010			2009			2011			2010			2009
Components of Net Periodic Benefit Cost
Service cost	$	9		$	8		$	8		$	1		$	1		$	1
Interest cost		20			19			19			4			3			3
Expected return on plan assets		(23	)		(21	)		(20	)		--			--			--
Amortization of net loss		9			8			12			2			--			--
Amortization of prior service cost		1			1			1			--			--			--
Net periodic benefit cost		16			15			20			7			4			4

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax)
Net loss (gain)		45			5			(10	)		(4	)		6			1
Amortization of unrecognized (loss) gain		(5	)		(5	)		(7	)		(1	)		(2	)		--
Prior service (credit) cost		(22	)		--			1			--			--			--
Amortization of prior service cost		(1	)		(1	)		(1	)		--			--			--
Total recognized in other comprehensive income		17			(1	)		(17	)		(5	)		4			1
Total recognized in net periodic benefit cost and
other comprehensive income	$	33		$	14		$	3		$	2		$	8		$	5

The weighted average assumptions used to determine benefit information during 2011, 2010, and 2009, were as follows:

	Pension Benefits									Other Post-retirement Benefits
	2011			2010			2009			2011			2010			2009
Weighted Average Assumptions:
Discount rate		4.80	%		5.75	%		6.25	%		4.90	%		5.75	%		6.25	%
Expected return on plan assets		8.25	%		8.25	%		8.50	%
Rate of compensation increase		4.00	%		4.00	%		4.00	%		4.00	%		4.00	%		4.00	%
Initial health care cost trend rate											9.00	%		10.00	%		9.00	%
Ultimate rate											5.00	%		5.00	%		5.00	%
Year ultimate rate is reached											201	6		201	6		201	4

If the assumed health care cost trend rate were increased or decreased by one percentage point, the accumulated post-retirement benefit obligation, as of December 31, 2011, 2010, and 2009 and the net periodic post-retirement benefit cost for 2011, 2010 and 2009, would have increased or decreased as follows (in millions):

	Other Post-retirement Benefits
	One Percentage Point
	Increase						Decrease
	2011		2010		2009		2011			2010			2009

Effect on total of service and interest cost components	$	1	$	1	$	--	$	(1	)	$	--		$	--
Effect on post-retirement benefit obligation	$	7	$	8	$	5	$	(6	)	$	(6	)	$	(4	)

Non-qualified Benefit Plans: The Company has non-qualified supplemental pension plans covering certain employees and retirees, which provide for incremental pension payments from the Company's general funds so that total pension benefits would be substantially equal to amounts that would have been payable from the Company's qualified pension plans if it were not for limitations imposed by income tax regulations. The obligation relating to these plans, totaled $16 million at December 31, 2011. A 3.9 percent discount rate was used to determine the 2011 obligation. The expense associated with the non-qualified plans was $2 million in 2011, $9 million in 2010, and $3 million in 2009. As of December 31, 2011, the amount recognized in accumulated other comprehensive income for unrecognized loss, net of tax, was approximately $5 million, and the amount recognized as unrecognized prior service credit, net of tax, was $4 million. The estimated net loss and prior service credit, net of tax, that will be recognized in net periodic pension cost in 2012 is negligible.

Estimated Benefit Payments: The estimated future benefit payments for the next ten years are as follows (in millions):

	Pension			Non-qualified			Post-retirement
Year	Benefits			Plan Benefits			Benefits

2012		$	19		$	4		$	3
2013			20			1			3
2014			21			1			3
2015			21			1			3
2016			22			5			4
2017-2021			118			2			18

Current liabilities of approximately $7 million, related to non-qualified plan and postretirement benefits, are classified as accrued and other liabilities in the consolidated balance sheet as of December 31, 2011.

Multiemployer Plans: Matson contributes to 9 multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its bargaining unit employees. Contributions are generally based on union labor paid or cargo volume.

The risks of participating in multiemployer plans are different from single-employer plans because assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. Additionally, if one employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers.

The multiemployer pension plans are subject to the plan termination insurance provisions of ERISA and are paying premiums to the Pension Benefit Guaranty Corporation (“PBGC”). The statutes provide that an employer who withdraws from, or significantly reduces its contribution obligation to, a multiemployer plan generally will be required to continue funding its proportional share of the plan's unfunded vested benefits. As of December 31, 2011, Management has no present intention of withdrawing from and does not anticipate termination of any of these plans.

Information regarding Matson's participation in multiemployer pension plans is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employer Identification Number (EIN) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available in 2011 and 2010 is for the plan's year-end at December 31, 2011 and 2010, respectively. The zone status is based on information that Matson received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. The “Status of funding improvement or rehabilitation plan implementation” column indicates plans for which a funding improvement plan or a rehabilitation plan is either pending or has been implemented. The last column lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject.

		Pension Protection Act Zone Status as of December 31,		FIP/RP Status	Contributions of Matson ($ in millions)							Expiration Date of Collective
Pension Fund	EIN/Pension Plan Number	2011	2010	Pending/ Implemented		2011		2010		2009	Surcharge Imposed	Bargaining Agreement
Hawaii Stevedoring Multiemployer Retirement Plan	99-0314293/001	Yellow	Yellow	Implemented	$	2.2	$	2.0	$	2.0	No	6/30/2014
Master, Mates and Pilots	13-6372630/001	Green	Red	None		3.0		2.9		2.6	No	6/15/2012-8/15/2013
Hawaii Terminals Multiemployer Pension Plan	20-0389370/001	Yellow	Yellow	Implemented		5.2		5.2		5.0	No	6/30/2014
OCU Trust Pension	26-1574440/001	Green	Green	None		0.1		0.1		0.1	No	6/30/2010
Other Plans						-		-		-
Total					$	10.5	$	10.2	$	9.7

Masters, Mates and Pilots Pension Plan utilized the special 29-year amortization rules provided by Public Law 111-192, Section 211 to amortize its losses from 2008. As a result, the plan's zone status changed from red in 2010 to green in 2011. Also, Matson is party to 2 collective-bargaining agreements based upon vessels that require contributions to this plan: Contract A, covering 13 vessels, expires on August 15, 2013, and Contract B, covering 1 vessel, expires on June 15, 2012.

Matson was listed in its plans' Forms 5500 as providing more than five percent of the total contributions for the following plans and plan years:

Pension Plan			Year Contributions to Plan Exceeded More than 5 Percent of Total Contributions (as of December 31 of the Plan's Year-End)
Hawaii Stevedoring Multiemployer Pension Plan			2011, 2010 and 2009
Hawaii Terminals Multiemployer Pension Plan			2011, 2010 and 2009
Masters, Mates and Pilots Pension Plan			2010 and 2009*

* As of the date the financial statements were issued, Form 5500 was not available for the plan year ending in 2011.

Matson contributes to 7 multiemployer plans that provide postretirement benefits other than pensions under the terms of collective-bargaining agreements with American Radio Association AFL-CIO; ILWU Local 142; ILWU Local 63, Office Clerical Unit Marine Clerk Association; International Organization of Masters, Mates and Pilots, AFL-CIO; National Marine Engineers' Beneficial Association, AFL-CIO District No. 1 – PCD, MEBA; Marine Firemen's Union; and Sailors' Union of the Pacific. Benefits provided to active and retired employees and their eligible dependents under these plans include medical, dental, vision, hearing, prescription drug, death, accidental death and dismemberment, disability, legal aid, training in maritime electronics, scholarship program, wage insurance and license insurance, although not all of these benefits are provided by each plan. These plans are not subject to the PBGC plan termination and withdrawal liability provisions of ERISA applicable to multiemployer pension plans. Contributions Matson made to these plans were $10.6 million in 2011, $10.5 million in 2010, and $9.9 million in 2009. The contributions increased during the period due to increases in the employer contribution rate.

Defined Contribution Plans: The Company sponsors defined contribution plans that qualify under Section 401(k) of the Internal Revenue Code and provides matching contributions of up to 4 percent of eligible employee compensation. For 2010, the 401(k) matching contributions were suspended for all employees who are participants in the Company's defined benefit plan, but was reinstated starting in 2011. The Company's matching contributions expensed under these plans totaled $2.2 million and $1.4 million for the years ended December 31, 2011 and 2009, respectively. The Company also maintains profit sharing plans, and if a minimum threshold of Company performance is achieved, provides contributions of 1 percent to 3 percent, depending upon Company performance above the minimum threshold. In 2009, the profit sharing plan was suspended, but was reinstated starting in 2011. There was no profit sharing contribution expense recorded in 2011 and 2010 for these plans.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Implementation Guide (Q and A)

-Number FAS88

-Paragraph 63

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-URI http://asc.fasb.org/topic&trid=2235017

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 158

-Paragraph 7, 21, 22

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph h

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph q

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 8

-Subparagraph m

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-Name Statement of Financial Accounting Standard (FAS)

-Number 106

-Paragraph 518

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 87

-Paragraph 264

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-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-2

-Paragraph 8

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-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 30

-Paragraph 26

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-Name FASB Staff Position (FSP)

-Number FAS106-2

-Paragraph 20, 21, 22

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+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2011

INCOME TAXES [Abstract]

INCOME TAXES

11. INCOME TAXES

The income tax expense on income from continuing operations for each of the three years in the period ended December 31, 2011 consisted of the following (in millions):

	2011			2010			2009
Current:
Federal	$	40		$	43		$	24
State and foreign		4			6			2
Current		44			49			26
Deferred:
Federal		(10	)		(3	)		(23	)
State and foreign		(2	)		(1	)		2
Deferred		(12	)		(4	)		(21	)
Total continuing operations tax expense	$	32		$	45		$	5

Income tax expense for 2011, 2010, and 2009 differs from amounts computed by applying the statutory federal rate to income from continuing operations before income taxes for the following reasons (in millions):

	2011		2010		2009

Computed federal income tax expense	$	30	$	40	$	4
State income taxes		2		5		4
Tax effect of HS&TC consolidation		--		--		(2	)
Other-net		--		--		(1	)
Income tax expense	$	32	$	45	$	5

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31 of each year are as follows (in millions):

	2011		2010
Deferred tax assets:
Benefit plans	$	82	$	77
Insurance reserves		10		10
Capitalized development costs		16		14
Other		10		6
Total deferred tax assets		118		107

Deferred tax liabilities:
Basis differences for property and equipment		293		287
Tax-deferred gains on real estate transactions		213		216
Capital Construction Fund		3		3
Joint ventures and other investments		1		7
Other		21		17
Total deferred tax liabilities		531		530

Net deferred tax liability	$	413	$	423

The Company's income taxes payable has been reduced by the tax benefits from share-based compensation. The Company receives an income tax benefit for exercised stock options calculated as the difference between the fair market value of the stock issued at the time of exercise and the option exercise price, tax effected. The Company also receives an income tax benefit for non-vested stock when they vest, measured as the fair market value of the stock at the time of vesting, tax effected. The net tax benefits from share-based transactions were $2.0 million and $0.6 million for 2011 and 2010, respectively, and the portion of the tax benefit related to the excess of the amount reported as the tax deduction over expense was reflected as an increase to additional capital in the consolidated statements of shareholders' equity.

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in millions):

Balance at January 1, 2009	$	6
Additions for tax positions of prior years		--
Additions for tax positions of current year		3
Reductions for tax positions of prior years		--
Reductions for lapse of statute of limitations		(1	)
Balance at December 31, 2009		8
Additions for tax positions of prior years		--
Additions for tax positions of current year		2
Reductions for tax positions of prior years		(1	)
Reductions for lapse of statute of limitations		(1	)
Balance at December 31, 2010		8
Additions for tax positions of prior years		1
Additions for tax positions of current year		(1	)
Reductions for tax positions of prior years		--
Reductions for lapse of statute of limitations		(1	)
Balance at December 31, 2011	$	7

Of the total unrecognized benefits, $7 million and $8 million, at December 31, 2011 and 2010, respectively, represent the amount that, if recognized, would favorably affect the Company's effective rate in future periods. The Company does not expect a material change in gross unrecognized benefits in the next 12 months.

The Company recognizes potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. To the extent interest and penalties are not ultimately assessed with respect to the settlement of uncertain tax positions, amounts accrued will be reduced and reflected as a reduction of the overall income tax provision. As of December 31, 2011 the amounts of accrued interest and penalties were not material.

The Company is no longer subject to U.S. federal income tax audits for years before 2008. The Company is routinely involved in state and local income tax audits. Substantially all material income tax matters have been concluded for years through 2006.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 740

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-Section 50

-Paragraph 15

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-Section 50

-Paragraph 9

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

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-Topic 740

-SubTopic 10

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-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

SHARE-BASED AWARDS

12 Months Ended

Dec. 31, 2011

SHARE-BASED AWARDS [Abstract]

SHARE-BASED AWARDS

12. SHARE-BASED AWARDS

2007 Incentive Compensation Plan: The 2007 Incentive Compensation Plan (the “2007 Plan”) serves as a successor to the 1998 Stock Option/Stock Incentive Plan, the 1998 Non-Employee Director Stock Option Plan, the Restricted Stock Bonus Plan and the Non-Employee Director Stock Retainer Plan (the “Predecessor Plans”). Under the 2007 Plan, 2,215,000 shares of common stock were initially reserved for issuance. As of December 31, 2011, 1.9 million shares of its common stock were reserved for future issuance of share-based awards under the 2007 Plan. On January 28, 2010, the Board of Directors adopted an amended and restated 2007 Plan, which, among other things, authorized the issuance of an additional 2,200,000 shares of A&B stock under the 2007 Plan. Shareholders approved the amended 2007 Plan at the 2010 Annual Meeting of Shareholders.

The 2007 Plan consists of four separate incentive compensation programs: (i) the discretionary grant program, (ii) the stock issuance program, (iii) the incentive bonus program and (iv) the automatic grant program for the non-employee members of the Company's Board of Directors. Share-based compensation is generally awarded under three of the four programs, as more fully described below.

Discretionary Grant Program – Under the Discretionary Grant Program, stock options may be granted with an exercise price no less than 100 percent of the fair market value (defined as the closing market price) of the Company's common stock on the date of the grant. Options generally become exercisable ratably over three years and have a maximum contractual term of 10 years. The Company estimates the grant-date fair value of its stock options using a Black-Scholes-Merton option valuation model.

Stock Issuance Program – Under the Stock Issuance Program, shares of common stock or restricted stock units may be granted. Time-based equity awards vest ratably over three years. Provided certain performance targets are achieved, performance-based equity awards vest over three years.

Automatic Grant Program – The Automatic Grant Program supersedes and replaces the Company's 1998 Non-Employee Director Stock Option Plan and the Non-Employee Director Stock Retainer Plan. At each annual shareholder meeting, non-employee directors will receive an award of restricted stock units that entitle the holder to an equivalent number of shares of common stock upon vesting. Awards of restricted stock units granted under the program generally vest ratably over three years.

The shares of common stock authorized to be issued under the 2007 Plan may be drawn from shares of the Company's authorized but unissued common stock or from shares of its common stock that the Company acquires, including shares purchased on the open market or in private transactions.

Predecessor Plans: Adopted in 1998, the Company's 1998 Stock Option/Stock Incentive Plan (“1998 Plan”) provided for the issuance of non-qualified stock options and common stock to employees of the Company. Under the 1998 Plan, option prices could not be less than the fair market value of the Company's common stock on the dates of grant and the options became exercisable over periods determined, at the dates of grant, by the Compensation Committee of the A&B Board of Directors that administers the plan. Generally, options vested ratably over three years and expired ten years from the date of grant. Payments for options exercised may be made in cash or in shares of the Company's stock. If an option to purchase shares is exercised within five years of the date of grant and if payment is made in shares of the Company's stock, the option holder may receive, under a reload feature, a new stock option grant for such number of shares as is equal to the number surrendered, with an option price not less than the greater of the fair market value of the Company's stock on the date of exercise or one and one-half times the original option price. The 1998 Plan also permitted the issuance of shares of the Company's common stock. Generally, grants of time-based, non-vested stock vests ratably over three years and performance-based, non-vested stock vests in one year, provided that certain performance targets are achieved. The 1998 Plan was superseded by the 2007 Plan and no further grants will be made under the 1998 Plan.

Director Stock Option Plans: The 1998 Director Stock Option Plan (“1998 Director Plan”) was superseded by the 2007 Plan. Under the 1998 Non-Employee Director Stock Option Plan, each non-employee Director of the Company, elected at an Annual Meeting of Shareholders, was automatically granted, on the date of each such Annual Meeting, an option to purchase 8,000 shares of the Company's common stock at the fair market value of the shares on the date of grant. Each option to purchase shares generally became exercisable ratably over three years following the date granted.

The Company estimates the grant-date fair value of its stock options using a Black-Scholes-Merton option-pricing model. The weighted average grant-date fair values of the options granted during 2011, 2010, and 2009 were $8.92, $6.59, and $2.79, respectively, per option, using the following weighted average assumptions provided in the table below:

	2011	2010	2008

Expected volatility	29.2%	28.8%	24.8%
Expected term (in years)	6.0	5.8	5.8
Risk-free interest rate	2.3%	2.7%	1.9%
Dividend yield	3.1%	3.8%	5.4%

•

Expected volatility was primarily determined using the historical volatility of A&B common stock over the expected term, but the Company may also consider future events and other factors that it reasonably concludes marketplace participants might consider.

•

The expected term of the awards represents expectations of future employee exercise and post-vesting termination behavior and was primarily based on historical experience. The Company analyzed various groups of employees and considers expected or unusual trends that would likely affect this assumption.

•

The risk free interest rate was based on U.S. Government treasury yields for periods equal to the expected term of the option on the grant date.

•

The expected dividend yield is based on the Company's current and historical dividend policy.

Application of alternative assumptions could produce significantly different estimates of the fair value of share-based compensation and, consequently, significantly affect the related amounts recognized in the consolidated statements of income.

The following table summarizes 2011 stock option activity for the Company's plans (in thousands, except exercise price amounts):

									Weighted	Weighted
			1998		1998				Average	Average	Aggregate
	2007		Employee		Director		Total		Exercise	Contractual	Intrinsic
	Plan		Plan		Plan		Shares		Price	Life	Value

Outstanding January 1, 2011	1,332		1,055		190		2,577		$37.10
Granted	317		--		--		317		$40.75
Exercised	(86	)	(208	)	(17	)	(311	)	$29.59
Forfeited and expired	(18	)	(11	)	--		(29	)	$43.83
Outstanding December 31, 2011	1,545		836		173		2,554		$38.39	5.4	$13,595

Vested or expected to vest	1,530		836		173		2,539		$40.10	5.4	$13,459
Exercisable December 31, 2011	805		836		173		1,814		$40.10	4.3	$8,434

The following table summarizes 2011 non-vested common stock and restricted stock unit activity (in thousands, except weighted-average, grant-date fair value amounts):


	2007
	Plan		Weighted
	Restricted		Average
	Stock		Grant-Date
	Units		Fair Value
January 1, 2011	330		$31.15
Granted	259		$38.78
Vested	(175	)	$32.24
Forfeited	(5	)	$34.85
Outstanding December 31, 2011	409		$35.48

A summary of the compensation cost and other measures related to share-based payments is as follows (in millions):

	2011			2010			2009
Share-based expense (net of estimated forfeitures):
Stock options	$	2		$	2		$	4
Non-vested stock & restricted stock units		6			6			5
Total share-based expense		8			8			9
Total recognized tax benefit		(2	)		(3	)		(3	)
Share-based expense (net of tax)	$	6		$	5		$	6

Cash received upon option exercise	$	9		$	7		$	--
Intrinsic value of options exercised	$	5		$	2		$	--
Tax benefit realized upon option exercise	$	2		$	1		$	--
Fair value of stock vested	$	7		$	4		$	3

As of December 31, 2011, there was $3 million of total unrecognized compensation cost related to unvested stock options. That cost is expected to be recognized over a weighted average period of approximately 1.4 years. As of December 31, 2011, unrecognized compensation cost related to restricted stock units was $6 million. The unrecognized cost for non-vested stock and restricted stock units is expected to be recognized over a weighted average period of 1.3 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64, 65, A240

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 93-6

-Paragraph 53

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 50

-Section 50

-Paragraph 1

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

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-Topic 718

-SubTopic 10

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-Paragraph 2

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-Name Accounting Standards Codification

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

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-Topic 718

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-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2011

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

13. COMMITMENTS AND CONTINGENCIES

Commitments and Contingencies: Commitments and financial arrangements, excluding lease commitments that are described in Note 8, included the following as of December 31, 2011 (in millions):

Standby letters of credit	(a)	$	19
Bonds	(b)	$	30
Benefit plan withdrawal obligations	(c)	$	87

These amounts are not recorded on the Company's consolidated balance sheet and it is not expected that the Company or its subsidiaries will be called upon to advance funds under these commitments.

(a)

Consists of standby letters of credit, issued by the Company's lenders under the Company's revolving credit facilities. Approximately $8 million of the letters of credit are related to transportation matters and principally relate to self-insured workers compensation arrangements and collateral agreements with insurance companies for retentions, deductibles and premium payments. The balance includes approximately $11 million related to the Company's real estate business. In the event the letters of credit are drawn upon, the Company would be obligated to reimburse the issuer of the letter of credit. None of the letters of credit has been drawn upon to date, and the Company believes it is unlikely that any of these letters of credit will be drawn upon.

(b)

Consists of approximately $16 million of construction bonds related to real estate projects in Hawaii, approximately $13 million in U.S. customs bonds, and approximately $1 million related to transportation and other matters. In the event the bonds are drawn upon, the Company would be obligated to reimburse the surety that issued the bond. None of the bonds has been drawn upon to date, and the Company believes it is unlikely that any of these bonds will be drawn upon.

(c)

Represents the withdrawal liabilities for multiemployer pension plans, in which Matson is a participant. Management has no present intention of withdrawing from and does not anticipate termination of any of the aforementioned plans.

Indemnity Agreements: For certain real estate joint ventures, the Company may be obligated under bond indemnities in order to complete construction of the real estate development if the joint venture does not perform. These indemnities are designed to protect the surety. In prior years, the Company recorded liabilities at fair value for several indemnities it provided in connection with surety bonds issued to cover construction activities, such as project amenities, roads, utilities, and other infrastructure, at its joint ventures. The recorded amount of the liabilities was not material at December 31, 2011 and 2010. Under the indemnities, the Company and its joint venture partners agreed to indemnify the surety bond issuer from all loss and expense arising from the failure of the joint venture to complete the specified bonded construction. The maximum potential amount of aggregate future payments is a function of the amount covered by outstanding bonds at the time of default by the joint venture, reduced by the amount of work completed to date. As of December 31, 2011, the maximum potential amount of aggregate future payments under bonds outstanding was $3 million, computed as $20 million of bonds outstanding, less the value of work completed, which totaled approximately $17 million. The Company and its joint venture partners also entered into mutual indemnification agreements under which each partner agrees to indemnify the other partner for its share of the obligation under the bonds. Including amounts recoverable from the Company's joint venture partners under the mutual indemnification agreements, the Company's maximum potential amount of aggregate future payments under indemnities at December 31, 2011 was approximately $1 million.

Other Obligations: Certain of the businesses in which the Company holds a non-controlling interest have long-term debt obligations. In February 2010, one of the Company's joint venture renegotiated a $10 million loan that matures in August 2012. As a condition to providing the loan, the lender required that the Company and its joint venture partner guarantee certain obligations of the joint venture under a maintenance agreement. The maintenance agreement specifies that the Company and its joint venture partner make payments to the lender to the extent that the loan-to-value measure or debt service ratio of the property held by the joint venture is below pre-determined thresholds. The Company has determined that the fair value of its obligation under this maintenance agreement was not material, and as of December 31, 2011, the Company had not paid any amounts under the guaranty.

Other than obligations described above, investee obligations do not have recourse to the Company and the Company's “at-risk” amounts are limited to its investment. These investments are more fully described in Note 4.

Environmental Matters: As with most transportation, industrial and land development companies of its size, the Company's shipping, real estate, and agricultural businesses have certain risks that could result in expenditures for environmental remediation. It is the Company's policy, as part of its due diligence process for all acquisitions, to use third-party environmental consultants to investigate the environmental risks and to require disclosure from land sellers of known environmental risks. Despite these precautions, there can be no assurance that the Company will avoid material liabilities relating to environmental matters affecting properties currently or previously owned by the Company. No estimate of such potential liabilities can be made although the Company may, from time to time, purchase property which requires modest environmental clean-up costs after appropriate due diligence. In such instances, the Company takes steps prior to acquisition to gain assurance as to the precise scope of work required and costs associated with removal, site restoration or monitoring, using detailed investigations by environmental consultants. The Company believes that based on all information available to it, the Company is in compliance, in all material respects, with applicable environmental laws and regulations.

In late 2003, the Company paid $1.6 million to settle a claim for payment of environmental remediation costs incurred by the current owner of a sugar refinery site in Hawaii that previously was sold by the Company in 1994. In connection with this settlement, the Company assumed responsibility to remediate certain parcels of the site and accrued an obligation of approximately $2 million for the estimated remediation costs. The commencement of environmental cleanup is dependent upon studies to be approved by the Department of Health of the State of Hawaii, which has not occurred as of December 31, 2011.

Other Contingencies: A&B owns 16,000 acres of watershed lands in East Maui that supply a significant portion of the irrigation water used by HC&S. A&B also held four water licenses to another 30,000 acres owned by the State of Hawaii in East Maui which, over the last ten years, have supplied approximately 58 percent of the irrigation water used by HC&S. The last of these water license agreements expired in 1986, and all four agreements were then extended as revocable permits that were renewed annually. In 2001, a request was made to the State Board of Land and Natural Resources (the “BLNR”) to replace these revocable permits with a long-term water lease. Pending the conclusion by the BLNR of this contested case hearing on the request for the long-term lease, the BLNR has renewed the existing permits on a holdover basis. If the Company is not permitted to utilize sufficient quantities of stream waters from State lands in East Maui, it could have a material adverse effect on the Company's sugar-growing operations.

In addition, on May 24, 2001, petitions were filed by a third party, requesting that the Commission on Water Resource Management of the State of Hawaii (“Water Commission”) establish interim instream flow standards (“IIFS”) in 27 East Maui streams that feed the Company's irrigation system. On September 25, 2008, the Water Commission took action on eight of the petitions, resulting in some quantity of water being returned to the streams rather than being utilized for irrigation purposes. In May 2010, the Water Commission took action on the remaining 19 petitions resulting in additional water being returned to the streams. A petition requesting a contested case hearing to challenge the Water Commission's decisions was filed with the Commission by the opposing third party. On October 18, 2010, the Water Commission denied the petitioner's request for a contested case hearing. On November 17, 2010, the petitioner filed an appeal of the Commission's denial to the Hawaii Intermediate Court of Appeals. On August 31, 2011, the Intermediate Court of Appeals dismissed the petitioner's appeal. On November 29, 2011, the petitioner appealed the Intermediate Court of Appeals' dismissal to the Hawaii Supreme Court. On January 11, 2012, the Hawaii Supreme Court vacated the Intermediate Court of Appeals' dismissal of the petitioner's appeal and remanded the appeal back to the Intermediate Court of Appeals.

On June 25, 2004, two organizations filed with the Water Commission a petition to establish IIFS for four streams in West Maui to increase the amount of water to be returned to these streams. The West Maui irrigation system provided approximately 15 percent of the irrigation water used by HC&S over the last ten years. The Water Commission issued a decision in June 2010, which required the return of water in two of the four streams. In July 2010, the two organizations appealed the Water Commission's decision to the Hawaii Intermediate Court of Appeals. On June 23, 2011, the case was transferred to the Hawaii Supreme Court.

The loss of East Maui and West Maui water as a result of the Water Commission's decisions imposes challenges to the Company's sugar growing operations. While the resulting water loss does not immediately threaten near-term sugar production, it will result in a future suppression of sugar yields and will have an impact on the Company that will only be quantifiable over time. Accordingly, the Company is unable to predict, at this time, the outcome or financial impact of the water proceedings.

On April 21, 2008, Matson was served with a grand jury subpoena from the U.S. District Court for the Middle District of Florida for documents and information relating to water carriage in connection with the Department of Justice's investigation into the pricing and other competitive practices of carriers operating in the domestic trades. Matson understands that while the investigation originally was focused primarily on the Puerto Rico trade, it also includes pricing and other competitive practices in connection with all domestic trades, including the Alaska, Hawaii and Guam trades. Matson does not operate vessels in the Puerto Rico and Alaska trades. It does operate vessels in the Hawaii and Guam trades. Matson has cooperated, and will continue to cooperate, fully with the Department of Justice. If the Department of Justice believes that any violations have occurred on the part of Matson or the Company, it could seek civil or criminal sanctions, including monetary fines. The Company is unable to predict, at this time, the outcome or financial impact, if any, of this investigation.

The Company and Matson were named as defendants in a consolidated civil lawsuit purporting to be a class action in the U.S. District Court for the Western District of Washington in Seattle. The lawsuit alleged violations of the antitrust laws and also named as a defendant Horizon Lines, Inc., another domestic shipping carrier operating in the Hawaii and Guam trades. On November 30, 2010, the judge dismissed the complaint with prejudice. On September 29, 2011, the Ninth Circuit panel unanimously affirmed the District Court's dismissal. The plaintiffs did not seek further review of the decision.

In March 2011, the Environmental Protection Agency (“EPA”) published nationwide standards for controlling hazardous air pollutant emissions from industrial, commercial, institutional boilers and process heaters, which would apply to Hawaiian Commercial & Sugar Company's three boilers. The standards require that prescribed emissions be reduced to allowable levels as detailed in the final regulations by early 2014. The Company is currently evaluating the impact of the new standards. However, the effective date of the rule has been stayed pending reconsideration of certain aspects of the rule by EPA or completion of proceedings for judicial review. In addition, legislation is pending in Congress that could impact both the content of the rule and the effective date. Accordingly, further changes to the rule and to the compliance schedule are likely. Given the potential for changes to the rule, the Company's continuing evaluation of alternative operating models for its sugar business, and the requirement to perform a thorough analysis of the new standards, the Company is unable to predict at this time, the financial impact of the regulations.

In June 2011, the Equal Employment Opportunity Commission (“EEOC”) served McBryde Resources, Inc., formerly known as Kauai Coffee Company, Inc. (“McBryde Resources”) with a lawsuit, which alleged that McBryde Resources and five other farms were complicit in illegal acts by Global Horizons Inc., a company that had hired Thai workers for the farms. The lawsuit was filed in the U.S. District Court for the District of Hawaii. In July 2011, the EEOC amended the lawsuit to name Alexander & Baldwin, Inc. as a defendant. At a hearing on October 26, 2011, the judge dismissed the lawsuit, without prejudice. The EEOC filed a second amended complaint on December 16, 2011. In response, McBryde Resources and Alexander & Baldwin, Inc. filed a motion to dismiss the second amended complaint. McBryde Resources and Alexander & Baldwin, Inc. will vigorously defend themselves in this matter. The Company is unable to predict, at this time, the outcome or financial impact, if any, of the lawsuit.

A&B and its subsidiaries are parties to, or may be contingently liable in connection with, other legal actions arising in the normal conduct of their businesses, the outcomes of which, in the opinion of management after consultation with counsel, would not have a material effect on A&B's consolidated financial statements as a whole.

The Company is subject to possible climate change legislation, regulation and international accords. At various times, bills related to climate change, such as limiting and reducing greenhouse gas emissions through a “cap and trade” system of allowances and credits, have been introduced in the U.S. Congress. In addition, the EPA is in the process of adopting and implementing regulations limiting greenhouse gas emissions in lieu of Congressional action. If enacted, such regulations could impose significant additional costs on the Company, including increased energy costs, higher material prices, and costly mandatory vessel and equipment modifications. The Company is unable to predict, at this time, the outcome or financial impact, if any, of future climate change related legislation.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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-Name FASB Interpretation (FIN)

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+ Details

INDUSTRY SEGMENTS

12 Months Ended

Dec. 31, 2011

INDUSTRY SEGMENTS [Abstract]

INDUSTRY SEGMENTS

14. INDUSTRY SEGMENTS

Operating segments are components of an enterprise that engage in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company's chief operating decision maker is its Chief Executive Officer. Based on the foregoing, the Company has five groups of similar products and services that are provided by its five segments that operate in three industries: Transportation, Real Estate and Agribusiness.

The Transportation Industry consists of two segments. Ocean Transportation carries freight between various U.S. Pacific Coast, major Hawaii ports, Guam, China and other Pacific ports and provides terminal, stevedoring and container equipment management services in Hawaii. Additionally, the Ocean Transportation segment has a 35 percent interest in an entity that provides terminal and stevedoring services at U.S. Pacific Coast facilities. Logistics Services arranges domestic and international rail intermodal service, long-haul and regional highway brokerage, specialized hauling, flat-bed and project work, less-than-truckload, expedited freight services, and warehousing and distribution services.

The Real Estate Industry consists of two segments. The Real Estate Sales segment generates its revenues through the development and sale of land, commercial and residential properties. The Real Estate Leasing segment owns, operates, and manages retail, office, and industrial properties. When property that was previously leased is sold, the sales revenue and operating profit are included with the Real Estate Sales segment.

Agribusiness, which consists of one segment, grows sugar cane; produces bulk raw sugar, specialty food-grade sugars, and molasses; markets and distributes specialty food-grade sugars; provides general trucking services, mobile equipment maintenance and repair services in Hawaii; and generates and sells, to the extent not used in the Company's operations, electricity.

The accounting policies of the operating segments are described in the summary of significant accounting policies. Reportable segments are measured based on operating profit, exclusive of interest expense, general corporate expenses, and income taxes. Transactions between reportable segments are accounted for on the same basis as transactions with unrelated third parties.

Industry segment information for 2011, 2010, and 2009 is summarized below (in millions):

For the Year	2011			2010			2009
Revenue:
Transportation:
Ocean transportation	$	1,077.6		$	1,016.5		$	888.6
Logistics services		386.4			355.6			320.9
Real Estate:
Leasing		100.1			94.4			103.2
Sales		66.2			136.1			125.6
Less amounts reported in discontinued operations1		(47.5	)		(126.7	)		(136.6	)
Agribusiness5		161.7			163.9			107.0
Reconciling Items 2		(22.1	)		(26.3	)		(16.3	)
Total revenue	$	1,722.4		$	1,613.5		$	1,392.4
Operating Profit:
Transportation:
Ocean transportation3	$	74.1		$	118.7		$	58.3
Logistics services		5.0			7.2			6.7
Real Estate:
Leasing		39.3			35.3			43.2
Sales3		15.5			50.1			39.1
Less amounts reported in discontinued operations1		(23.8	)		(54.5	)		(59.2	)
Agribusiness5		22.2			6.1			(27.8	)
Total operating profit		132.3			162.9			60.3
Interest expense, net4		(24.8	)		(25.5	)		(25.9	)
General corporate expenses		(20.3	)		(23.3	)		(21.8	)
Income from continuing operations before income taxes		87.2			114.1			12.6
Income taxes		32.3			44.7			5.0
Income from continuing operations		54.9			69.4			7.6
Discontinued operations		(20.7	)		22.7			36.6
Net income	$	34.2		$	92.1		$	44.2

1	Prior year amounts restated for amounts treated as discontinued operations.

2	Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.

The Ocean Transportation segment includes approximately $8.6 million, $12.8 million, and $6.2 million of equity in earnings from its investment in SSAT for 2011, 2010, and 2009, respectively. The Real Estate Sales segment includes approximately $7.9 million equity in loss and $2.0 million in equity in earnings from its various real estate joint ventures for 2011 and 2010, respectively. Equity in earnings from joint ventures in 2009 was negligible.

4	Includes Ocean Transportation interest expense of $7.7 million, $8.2 million, and $9.0 million for 2011, 2010, and 2009, respectively. Substantially all other interest expense was at the parent company.

5	Includes a $4.9 million gain in 2010 related to an agriculture disaster relief payment for drought experienced in prior years and a $5.4 million gain recorded upon consolidation of HS&TC in 2009.

As of December 31:	2011		2010		2009
Identifiable Assets:
Ocean transportation6	$	1,082.6	$	1,095.5	$	1,095.2
Logistics services		76.8		73.8		72.4
Real estate leasing		770.9		739.4		627.4
Real estate sales6		451.4		420.8		415.6
Agribusiness		157.8		150.3		156.8
Other		4.8		14.8		12.2
Total assets	$	2,544.3	$	2,494.6	$	2,379.6
Capital Expenditures:
Ocean transportation	$	44.2	$	69.4	$	12.7
Logistics services7		3.0		1.8		0.6
Real estate leasing8		43.6		164.7		108.8
Real estate sales9		5.2		0.1		0.1
Agribusiness		10.5		6.8		3.4
Other		--		0.3		0.3
Total capital expenditures	$	106.5	$	243.1	$	125.9
Depreciation and Amortization:
Ocean transportation	$	70.6	$	69.0	$	67.1
Logistics services		3.2		3.2		3.5
Real estate leasing1		21.6		20.3		19.5
Real estate sales		0.2		0.2		0.3
Agribusiness		11.9		12.7		11.9
Other		1.1		1.9		3.1
Total depreciation and amortization	$	108.6	$	107.3	$	105.4

The Ocean Transportation segment includes approximately $56.5 million, $52.9 million, and $47.2 million related to its investment in SSAT as of December 31, 2011, 2010, and 2009, respectively. The Real Estate Sales segment includes approximately $290.1 million, $274.8 million, and $193.3 million related to its investment in various real estate joint ventures as of December 31, 2011, 2010, and 2009, respectively.

7	Excludes expenditures related to Matson Logistics' acquisitions, which are classified as acquisition of businesses in Cash Flows from Investing Activities within the Consolidated Statements of Cash Flows.

8	Represents gross capital additions to the leasing portfolio, including gross tax-deferred property purchases that are reflected as non-cash transactions in the Consolidated Statements of Cash Flows.

Excludes expenditures for real estate developments held for sale which are classified as Cash Flows from Operating Activities within the Consolidated Statements of Cash Flows. Operating cash flows for expenditures related to real estate developments were $14 million, $22 million, and $6 million for 2011, 2010, and 2009, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

QUARTERLY INFORMATION (Unaudited)

12 Months Ended

Dec. 31, 2011

QUARTERLY INFORMATION (Unaudited) [Abstract]

QUARTERLY INFORMATION (Unaudited)

15. QUARTERLY INFORMATION (Unaudited)

Segment results by quarter for 2011 are listed below (in millions, except per-share amounts):

	2011
	Q1			Q2			Q3			Q4
Revenue:
Transportation:
Ocean transportation	$	238.4		$	274.8		$	281.8		$	282.6
Logistics services		91.3			103.1			99.2			92.8
Real Estate:
Leasing		26.0			25.2			24.5			24.4
Sales		23.4			30.7			9.3			2.8
Less amounts reported in discontinued operations 1		(15.2	)		(23.1	)		(8.8	)		(0.4	)
Agribusiness		16.1			44.7			38.5			62.4
Reconciling Items 2		(6.5	)		(6.9	)		(4.3	)		(4.4	)
Total Revenue	$	373.5		$	448.5		$	440.2		$	460.2
Operating Profit (Loss):
Transportation:
Ocean transportation	$	5.4		$	27.1		$	28.6		$	13.0
Logistics services		1.5			2.1			2.0			(0.6	)
Real Estate:
Leasing		10.6			10.4			9.2			9.1
Sales		12.0			10.6			3.5			(10.6	)
Less amounts reported in discontinued operations1		(7.2	)		(9.2	)		(7.0	)		(0.4	)
Agribusiness		2.6			8.5			3.8			7.3
Total operating profit		24.9			49.5			40.1			17.8
Interest Expense		(6.2	)		(6.1	)		(6.3	)		(6.2	)
General Corporate Expenses		(4.2	)		(4.2	)		(4.8	)		(7.1	)
Income From Continuing Operations before Income Taxes		14.5			39.2			29.0			4.5
Income taxes		5.8			15.1			10.6			0.8
Income From Continuing Operations		8.7			24.1			18.4			3.7
Discontinued Operations1		(3.5	)		(5.4	)		(9.7	)		(2.1	)
Net Income	$	5.2		$	18.7		$	8.7		$	1.6

Earnings Per Share:
Basic	$	0.13		$	0.45		$	0.21		$	0.04
Diluted	$	0.12		$	0.44		$	0.21		$	0.04

1	See Note 2 for discussion of discontinued operations.

2	Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.

Segment results by quarter for 2010 are listed below (in millions, except per-share amounts):

	2010
	Q1			Q2			Q3			Q4
Revenue:
Transportation:
Ocean transportation	$	229.5		$	257.2		$	261.8		$	268.0
Logistics services		77.1			88.6			92.4			97.5
Real Estate:
Leasing		23.6			23.2			24.4			23.2
Sales		60.3			22.0			4.3			49.5
Less amounts reported in discontinued operations 1		(58.4	)		(20.7	)		(3.3	)		(44.3	)
Agribusiness2		14.2			29.8			60.4			59.5
Reconciling Items 3		(4.2	)		(3.6	)		(2.7	)		(15.8	)
Total Revenue	$	342.1		$	396.5		$	437.3		$	437.6
Operating Profit (Loss):
Transportation:
Ocean transportation	$	10.4		$	37.0		$	42.5		$	28.8
Logistics services		1.9			1.5			1.8			2.0
Real Estate:
Leasing		9.1			8.5			9.3			8.4
Sales		21.4			8.0			2.9			17.8
Less amounts reported in discontinued operations1		(22.8	)		(10.6	)		(2.1	)		(19.0	)
Agribusiness2		(1.1	)		1.8			0.8			4.6
Total operating profit		18.9			46.2			55.2			42.6
Interest Expense		(6.5	)		(6.5	)		(6.3	)		(6.2	)
General Corporate Expenses		(6.6	)		(4.5	)		(7.7	)		(4.5	)
Income From Continuing Operations before Income Taxes		5.8			35.2			41.2			31.9
Income taxes		3.0			13.1			15.5			13.1
Income From Continuing Operations		2.8			22.1			25.7			18.8
Discontinued Operations1		14.5			6.8			--			1.4
Net Income	$	17.3		$	28.9		$	25.7		$	20.2

Earnings Per Share:
Basic	$	0.42		$	0.70		$	0.62		$	0.49
Diluted	$	0.42		$	0.70		$	0.62		$	0.48

1	See Note 2 for discussion of discontinued operations.

2	Includes a $4.9 million gain in the fourth quarter of 2010 related to a agriculture disaster relief payment for drought experienced in prior years.

3	Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

PARENT COMPANY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2011

PARENT COMPANY CONDENSED FINANCIAL INFORMATION [Abstract]

PARENT COMPANY CONDENSED FINANCIAL INFORMATION

16. PARENT COMPANY CONDENSED FINANCIAL INFORMATION

Set forth below are the unconsolidated condensed financial statements of Alexander & Baldwin, Inc. (“Parent Company”). The significant accounting policies used in preparing these financial statements are substantially the same as those used in the preparation of the consolidated financial statements as described in Note 1, except that, for purposes of the tables presented in this footnote, subsidiaries are carried under the equity method.

The following table presents the Parent Company's condensed balance sheets as of December 31, 2011 and 2010 (in millions):

	2011			2010
ASSETS
Current Assets:
Cash and cash equivalents	$	1		$	-
Accounts and other receivables, net		3			5
Inventories		24			16
Real estate held for sale		--			3
Prepaid expenses and other		5			6
Total current assets		33			30
Investments:
Subsidiaries consolidated, at equity		1,313			1,299
Property, at Cost		518			501
Less accumulated depreciation and amortization		237			225
Property – net		281			276
Other Assets		16			17
Total	$	1,643		$	1,622

LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Current portion of long-term debt	$	34		$	108
Accounts payable		6			8
Income taxes payable		22			2
Non-qualified benefit plans		1			1
Other		17			17
Total current liabilities		80			136
Long-term Debt		308			230
Employee Benefit Plans		41			27
Non-qualified Benefit Plans		8			10
Other Long-term Liabilities		19			11
Deferred Income Taxes		50			50
Due to Subsidiaries		14			22
Shareholders' Equity:
Capital stock		34			34
Additional capital		239			223
Accumulated other comprehensive loss		(92	)		(82	)
Retained earnings		953			972
Cost of treasury stock		(11	)		(11	)
Total shareholders' equity		1,123			1,136
Total	$	1,643		$	1,622

The following table presents the Parent Company's condensed statements of income for the years ended December 31, 2011, 2010, and 2009 (in millions):

	2011			2010			2009
Revenue:
Agribusiness	$	128		$	117		$	73
Real estate leasing		24			16			13
Real estate sales		15			2			8
Interest and other		3			6			2
Total revenue		170			141			96

Costs and Expenses:
Cost of agribusiness goods and services		113			114			109
Cost of real estate sales and leasing		21			11			9
Selling, general and administrative		21			24			21
Interest and other		16			16			16
Income tax benefit (expense)		2			(12	)		(22	)
Total costs and expenses		173			153			133

Loss from Continuing Operations		(3	)		(12	)		(37	)

Discontinued Operations, net of income taxes		2			24			11

Income (Loss) Before Equity in Income of Subsidiaries Consolidated		(1	)		12			(26	)

Equity in Income from Continuing Operations of Subsidiaries Consolidated		58			81			44

Equity in Income (Loss) from Discontinued Operations of Subsidiaries Consolidated		(23	)		(1	)		26

Net Income		34			92			44

Other Comprehensive Income (Loss), net of income taxes		(10	)		(1	)		15

Comprehensive Income	$	24		$	91		$	59

The following table presents the Parent Company's condensed statements of cash flows for the years ended December 31, 2011, 2010, and 2009 (in millions):

	2011			2010			2009
Cash Flows from Operations (including dividends received from subsidiaries)	$	96		$	37		$	90

Cash Flows from Investing Activities:
Capital expenditures		(10	)		(14	)		(6	)
Purchase of investments		(58	)		(67	)		(96	)
Proceeds from disposal of property and sale of investments		12			36			28
Net cash used in investing activities		(55	)		(45	)		(74	)

Cash Flows from Financing Activities:
Change in intercompany payables/receivables		--			--			(13	)
Proceeds from (repayments of) long-term debt, net		3			52			51
Proceeds from issuance of capital stock and other		10			7			(1	)
Repurchases of capital stock		--			--			--
Dividends paid		(53	)		(52	)		(52	)
Net cash used in financing activities		(40	)		7			(15	)

Cash and Cash Equivalents:
Net increase (decrease) for the year		1			(1	)		1
Balance, beginning of year		--			1			--
Balance, end of year	$	1		$	--		$	1

Other Cash Flow Information:
Interest paid	$	(16	)	$	(15	)	$	(13	)
Income taxes paid, net of refunds	$	(25	)	$	(46	)	$	(38	)

Other Non-cash Information:
Depreciation expense	$	16		$	16		$	17
Tax-deferred property sales	$	16		$	65		$	29
Tax-deferred property purchases	$	(12	)	$	(78	)	$	(40	)

General Information: The Parent Company is headquartered in Honolulu, Hawaii and is engaged in the operations that are generally described in Note 14, “Industry Segments.” Additional information related to the Parent Company is described in the foregoing notes to the consolidated financial statements.

Long-term Debt: At December 31, 2011 and 2010, long-term debt consisted of the following (in millions):

	2011			2010

Revolving Credit loans (1.24% for 2011 and 0.57% for 2010)	$	113		$	93
Term Loans:
6.90%, payable through 2020		100			100
5.53%, payable through 2016		42			50
5.55%, payable through 2017		50			50
5.56%, payable through 2016		25			25
4.10%, payable through 2012		4			12
6.20%, payable through 2013, secured by Deere Valley Center		2			2
5.50%, payable through 2014, secured by Little Cottonwood Center		6			6
Total		342			338
Less current portion		(34	)		(108	)
Long-term debt	$	308		$	230

Long-term Debt Maturities: At December 31, 2011, maturities of all long-term debt during the next five years are $34 million in 2012, $26 million in 2013, $39 million in 2014, $33 million in 2015, $140 million in 2016, and $70 million thereafter.

Revolving Credit Facilities: The Parent Company has a revolving senior credit facility with seven commercial banks that expires in August 2016. The revolving credit facility provides for a commitment of $230 million. Amounts drawn under the facility bear interest at London Interbank Offered Rate (“LIBOR”) plus a margin based on a ratio of debt to earnings before interest, taxes, depreciation and amortization pricing grid. The agreement contains certain restrictive covenants, the most significant of which require the maintenance of minimum shareholders' equity levels, minimum unencumbered property investment values, and a maximum ratio of total debt to earnings before interest, depreciation, amortization, and taxes. At December 31, 2011, $113 million was outstanding, $11 million in letters of credit had been issued against the facilities, and $106 million remained available for borrowing.

The Company has a replenishing three-year unsecured note purchase and private shelf agreement with Prudential Investment Management, Inc. and its affiliates (collectively, “Prudential”) under which the Company may issue notes in an aggregate amount up to $400 million, less the sum of all principal amounts then outstanding on any notes issued by the Company or any of its subsidiaries to Prudential and the amount of any notes that are committed under the note purchase agreement. The Prudential agreement contains certain restrictive covenants that are substantially the same as the covenants contained in the Company's revolving senior credit facility. The ability to draw additional amounts under the Prudential facility expires on April 19, 2012 and borrowings under the shelf facility bear interest at rates that are determined at the time of the borrowing. At December 31, 2011, approximately $120 million was available under the facility.

Real EstateSecured Term Debt: In October 2010, the Parent Company assumed secured debt in connection with its purchase of Little Cottonwood Center, a retail center in Sandy, Utah. In June 2005, the Parent Company, together with its real-estate subsidiaries, purchased Deere Valley Center, an office building in Phoenix, Arizona, and assumed mortgage-secured debt. A&B owns approximately 25 percent of the Phoenix office building. The property is jointly and severally owned by three subsidiaries of the Company.

Dividends from Subsidiaries: The Company received cash dividends from Matson totaling approximately $60 million for 2011, $45 million for 2010 and $60 million for 2009.

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References+ Details

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Dec. 31, 2011
SUBSEQUENT EVENT [Abstract]
SUBSEQUENT EVENT	17. SUBSEQUENT EVENT On February 13, 2012, the Company entered into an Agreement and Plan of Merger to reorganize itself as a holding company incorporated in Hawaii. The holding company structure will help facilitate the separation by allowing the Company to organize and segregate the assets of its different businesses in an efficient manner prior to the separation and facilitate the third party and governmental consent and approval process. In addition, the holding company reorganization will help preserve the Company's status as a U.S. citizen under certain U.S. maritime and vessel documentation laws (popularly referred to as the Jones Act) by, among other things, limiting the percentage of outstanding shares of common stock in the holding company that may be owned (of record or beneficially) or controlled in the aggregate by non-U.S. citizens (as defined by the Jones Act) to a maximum permitted percentage of 22%.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2011

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Principles of Consolidation

Fiscal Year

Reclassifications

Risks and Uncertainties

Use of Estimates

Cash and Cash Equivalents

Fair Value of Financial Instruments

Fair Value of Financial Instruments: The fair values of cash and cash equivalents, receivables and short-term borrowings approximate their carrying values due to the short-term nature of the instruments. The carrying amount and fair value of the Company's long-term debt at December 31, 2011 was $559 million and $587 million, respectively, and $522 million and $546 million at December 31, 2010, respectively. The fair value of long-term debt is calculated based upon interest rates available for debt with terms and maturities similar to the Company's existing debt arrangements.

Allowance for Doubtful Accounts

Inventories

Dry-docking

Property and Depreciation

Depreciation: Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives of property are as follows:

Classification	Range of Life (in years)

Vessels	10 to 40
Buildings	10 to 40
Water, power and sewer systems	5 to 50
Machinery and equipment	2 to 35
Other property improvements	3 to 35

Real Estate Developments

Capitalized Interest

Impairment of Long-Lived Assets and Finite-Lived Intangible Assets

Impairment of Investments

Impairment of Vessels

Goodwill and Intangible Assets

Revenue Recognition

Costs

Non-voyage Ocean Transportation Costs: Depreciation, charter hire, terminal operating overhead, and general and administrative expenses are charged to expense as incurred.

Agricultural Costs: Costs of growing and harvesting sugar cane are charged to the cost of inventory in the year incurred and to cost of sales as sugar is sold.

Discontinued Operations

Employee Benefit Plans

Share-Based Compensation

Basic and Diluted Earnings per Share (EPS) of Common Stock

The denominator used to compute basic and diluted earnings per share is as follows (in millions):

	2011		2010		2009

Denominator for basic EPS: weighted average shares outstanding		41.6		41.2		41.0
Effect of dilutive securities:
Outstanding stock options and non-vested stock units		0.4		0.3		0.1
Denominator for diluted EPS: weighted average shares outstanding		42.0		41.5		41.1

Income Taxes

Restricted Net Assets of Subsidiaries

Derivative Financial Instruments

Comprehensive Income (Loss)

	2011			2010			2009
Unrealized components of benefit plans:
Pension plans	$	(90	)	$	(73	)	$	(73	)
Postretirement plans		1			(4	)		--
Non-qualified benefit plans		(1	)		(4	)		(6	)
SSAT pension plan and other		(2	)		(1	)		(2	)
Accumulated other comprehensive loss	$	(92	)	$	(82	)	$	(81	)

Environmental Costs

Self-Insured Liabilities

Impact of Recently Issued Accounting Standards

Rounding

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2011

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Changes in Allowance for Doubtful Accounts

The changes in the allowance for doubtful accounts, included on the consolidated balance sheets as an offset to “Accounts and notes receivable,” for the three years ended December 31, 2011 were as follows (in millions):

	Balance at Beginning of year	Expense	Write-offs and Other	Balance at End of Year

2011	$8	$--	$(1)	$7
2010	$10	--	$(2)	$8
2009	$8	$3	$(1)	$10

Inventories

Inventories at December 31, 2011 and 2010 were as follows (in millions):

	2011		2010

Sugar inventories	$	16	$	16
Materials and supplies inventories		24		19
Total	$	40	$	35

Estimated Useful Lives of Property

Estimated useful lives of property are as follows:

Classification	Range of Life (in years)

Vessels	10 to 40
Buildings	10 to 40
Water, power and sewer systems	5 to 50
Machinery and equipment	2 to 35
Other property improvements	3 to 35

Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2011 and 2010 were as follows (in millions):

	Goodwill

Balance, December 31, 2009	$	27
Additions		--
Balance, December 31, 2010		27
Additions		--
Balance, December 31, 2011	$	27

Intangible Assets

Intangible assets for the years ended December 31 included the following (in millions):

	2011							2010
	Gross							Gross
	Carrying			Accumulated				Carrying			Accumulated
	Amount			Amortization				Amount			Amortization
Amortized intangible assets:
Customer lists		$	12		$	(6	)		$	12		$	(5	)
In-place leases			15			(9	)			15			(7	)
Other			11			(8	)			11			(5	)
Total assets		$	38		$	(23	)		$	38		$	(17	)

Estimated Amortization Expenses Related to Intangibles Over the Next Five Years

Estimated amortization expenses related to intangibles over the next five years are as follows (in millions):

	Estimated Amortization

2012	$	3
2013		3
2014		2
2015		2
2016		1

Denominator Used to Compute Basic and Diluted Earnings per Share

The denominator used to compute basic and diluted earnings per share is as follows (in millions):

	2011	2010	2009

Denominator for basic EPS: weighted average shares outstanding	41.6	41.2	41.0
Effect of dilutive securities:
Outstanding stock options and non-vested stock units	0.4	0.3	0.1
Denominator for diluted EPS: weighted average shares outstanding	42.0	41.5	41.1

Components of Accumulated Other Comprehensive Income, Net of Taxes

The components of accumulated other comprehensive loss, net of taxes, were as follows for the years ended December 31 (in millions):

	2011			2010			2009
Unrealized components of benefit plans:
Pension plans	$	(90	)	$	(73	)	$	(73	)
Postretirement plans		1			(4	)		--
Non-qualified benefit plans		(1	)		(4	)		(6	)
SSAT pension plan and other		(2	)		(1	)		(2	)
Accumulated other comprehensive loss	$	(92	)	$	(82	)	$	(81	)

- Definition

Tabular disclosure of amortizable intangibles assets, in total and by major class, including the gross carrying amount and accumulated amortization. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.

+ References+ Details

- Definition

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

+ References+ Details

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2011

DISCONTINUED OPERATIONS [Abstract]

Revenue, Operating Profit, Income Tax Expense and After-Tax Effects of Discontinued Operations

The revenue, operating profit, income tax expense and after-tax effects of these transactions for 2011, 2010, and 2009, were as follows (in millions, except per share amounts):

	2011			2010			2009

Real Estate Sales Revenue (Real Estate Sales Segment)*	$	46		$	117		$	110
Real Estate Leasing Revenue (Real Estate Leasing Segment)		2			10			27
CLX2 Revenue (Transportation segment)		93			28			--
Real Estate Sales Operating Profit*	$	23		$	49		$	44
Real Estate Leasing Operating Profit		1			6			15
CLX2 Operating Loss		(57	)		(19	)		--
Total Operating Profit (Loss) Before Taxes		(33	)		36			59
Income Tax Expense (Benefit)		(12	)		13			22
Income (Loss) from Discontinued Operations	$	(21	)	$	23		$	37
Basic Earnings Per Share	$	(0.50	)	$	0.55		$	0.89
Diluted Earnings Per Share	$	(0.50	)	$	0.55		$	0.89

Represents the sales proceeds and the gain on sale of income producing properties that are classified as discontinued operations.

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details

EXIT ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2011

EXIT ACTIVITIES [Abstract]

Liabilities Associated with the Termination of CLX2

The following table provides information regarding liabilities associated with the termination of CLX2 (in millions):

	Container and Charter Liabilities			Other Contractual Liabilities			Total

Balance at June 30, 2011	$	--		$	--		$	--
Expenses incurred		11.8			0.7			12.5
Amounts paid		(7.0	)		(0.6	)		(7.5	)
Balance at December 31, 2011	$	4.8		$	0.1		$	5.0

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References+ Details

INVESTMENTS IN AFFILIATES (Tables)

12 Months Ended

Dec. 31, 2011

INVESTMENTS IN AFFILIATES [Abstract]

Investments in Affiliates, by Industry

The Company's investments in affiliates are summarized, by industry, as follows (in millions):

	2011		2010
Investment in Unconsolidated Affiliated Companies:
Real Estate and Other	$	291	$	276
Transportation		56		53
Total Investments	$	347	$	329

Summary of Financial Information for Equity Method Investments

A summary of financial information for the Company's equity method investments by industry at December 31 is as follows (in millions):

	2011						2010

	Real Estate			Transportation			Real Estate			Transportation

Current assets		$	21		$	90		$	42		$	88
Noncurrent assets			612			119			623			111
Total assets		$	633		$	209		$	665		$	199

Current liabilities		$	17		$	42		$	15		$	39
Noncurrent liabilities			112			17			164			22
Total liabilities		$	129		$	59		$	179		$	61

	Year Ended December 31,
	2011			2010		2009
Real Estate:
Operating revenue	$	20		$	30	$	14
Operating costs and expenses		32			23		9
Operating (loss) income	$	(12	)	$	7	$	5
Income (loss) from continuing operations	$	(15	)	$	7	$	1
Net income (loss)	$	(15	)	$	7	$	1

Transportation:
Operating revenue	$	579		$	568	$	476
Operating costs and expenses		572			548		470
Operating income	$	7		$	20	$	6
Income from continuing operations*	$	26		$	36	$	20
Net income	$	26		$	36	$	20

* Includes earnings from equity method investments held by the investee.

- Definition

Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.

+ References+ Details

PROPERTY (Tables)

12 Months Ended

Dec. 31, 2011

PROPERTY [Abstract]

Property

Property on the consolidated balance sheets includes the following (in millions):


	As of December 31, 2011
($ in millions)	Cost		Accumulated Depreciation			Net Book Value
Vessels	$	1,232	$	(641	)	$	591
Machinery and equipment		675		(444	)		231
Buildings		564		(95	)		469
Land		248		-			248
Water, power and sewer systems		121		(87	)		34
Other property improvements		122		(61	)		61
Total	$	2,962	$	(1,328	)	$	1,634


	As of December 31, 2010
($ in millions)	Cost		Accumulated Depreciation			Net Book Value
Vessels	$	1,220	$	(600	)	$	620
Machinery and equipment		661		(425	)		236
Buildings		557		(86	)		471
Land		236		-			236
Water, power and sewer systems		119		(84	)		35
Other property improvements		108		(55	)		53
Total	$	2,901	$	(1,250	)	$	1,651

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details

NOTES PAYABLE AND LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2011

NOTES PAYABLE AND LONG-TERM DEBT [Abstract]

Notes Payable and Long-Term Debt

At December 31, 2011 and 2010, notes payable and long-term debt consisted of the following (in millions):

	2011			2010

Revolving Credit loans, (1.29% for 2011 and 0.64% for 2010)	$	173		$	108
Title XI Bonds:
5.27%, payable through 2029, secured by MV Maunawili		40			42
5.34%, payable through 2028, secured by MV Manukai		37			40
Term Loans:
6.90%, payable through 2020		100			100
4.79%, payable through 2020, secured by MV Manulani		60			66
5.55%, payable through 2017		50			50
5.53%, payable through 2016		42			50
5.56%, payable through 2016		25			25
4.10%, payable through 2012		4			12
6.20%, payable through 2013, secured by Deere Valley Center		10			11
6.38%, payable through 2017, secured by Midstate 99 Distribution Ctr.		8			8
5.50%, payable through 2014, secured by Little Cottonwood Center		6			6
5.88%, payable through 2014, secured by Midstate 99 Distribution Ctr.		3			3
0.00%, payable through 2012		1			1
Total debt		559			522
Less current portion		(52	)		(136	)
Long-term debt	$	507		$	386

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(e),(f))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

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+ Details

LEASES-THE COMPANY AS LESSOR (Tables)

12 Months Ended

Dec. 31, 2011

LEASES-THE COMPANY AS LESSOR [Abstract]

Historical Cost and Accumulated Depreciation of Leased Property

	2011			2010

Leased property - real estate	$	844		$	820
Less accumulated depreciation		(114	)		(103	)
Property under operating leases - net	$	730		$	717

Total Rental Income Under Operating Leases

Total rental income under these operating leases for each of the three years in the period ended December 31, 2011 was as follows (in millions):

	2011		2010		2009

Minimum rentals	$	74	$	70	$	78
Contingent rentals (based on sales volume)		2		2		3
Total	$	76	$	72	$	81

Future Minimum Rentals on Non-Cancelable Leases

Future minimum rentals on non-cancelable leases at December 31, 2011 were as follows (in millions):

	Operating Leases

2012	$	69
2013		60
2014		50
2015		41
2016		28
Thereafter		110
Total	$	358

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2011

EMPLOYEE BENEFIT PLANS [Abstract]

Weighted-Average and Target Asset Allocations

The Company's weighted-average asset allocations at December 31, 2011 and 2010, and 2011 year-end target allocation, by asset category, were as follows:

	Target		2011		2010

Domestic equity securities	53	%	59	%	62	%
International equity securities	15	%	14	%	11	%
Debt securities	22	%	17	%	16	%
Real estate	10	%	6	%	4	%
Other and cash	-	-	4	%	7	%
Total	100	%	100	%	100	%

Fair Value of Pension Plan Assets

The fair values of the Company's pension plan assets at December 31, 2011 and 2010, by asset category, are as follows (in millions):

	Fair Value Measurements as of
	December 31, 2011
	Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Cash	$	10	$	10	$	--	$	--
Equity securities:
U.S. large-cap		102		102		--		--
U.S. mid- and small-cap		32		32		--		--
International large-cap		28		28		--		--
International mid-cap		23		23		--		--
Fixed income securities:
U.S. Treasuries		1		--		1		--
Investment grade U.S. corporate bonds		3		--		3		--
High-yield U.S. corporate bonds		10		--		10		--
Mortgage-backed securities		31		--		31		--
Other types of investments:
Real estate partnerships interests		14		--		--		14
Private equity partnership interests (a)		2		--		--		2
Insurance contracts		1		--		--		1
Total	$	257	$	195	$	45	$	17

	Fair Value Measurements as of
	December 31, 2010
	Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Cash	$	17	$	17	$	--	$	--
Equity securities:
U.S. large-cap		136		136		--		--
U.S. mid- and small-cap		40		40		--		--
International large-cap		31		31		--		--
Fixed income securities:
U.S. Treasuries		1		--		1		--
Investment grade U.S. corporate bonds		3		--		3		--
High-yield U.S. corporate bonds		8		--		8		--
Mortgage-backed securities		33		--		33		--
Other types of investments:
Real estate partnerships interests		13		--		--		13
Private equity partnership interests (a)		2		--		--		2
Insurance contracts		1		--		--		1
Total	$	285	$	224	$	45	$	16

(a)	This category represents private equity funds that invest principally in U.S. technology companies.

Reconciliations of Pension Plan Investments Measured at Fair Value on Recurring Basis

	Fair Value Measurements Using Significant
	Unobservable Inputs (Level 3)

	Real Estate			Private Equity			Insurance		Total

Beginning balance, January 1, 2010	$	23		$	3		$	1	$	27
Actual return on plan assets:
Assets held at the reporting date		3			--			--		3
Assets sold during the period		(1	)		--			--		(1	)
Purchases, sales and settlements		(12	)		(1	)		--		(13	)
Ending balance, December 31, 2010		13			2			1		16
Actual return on plan assets:
Assets held at the reporting date		2			--			--		2
Assets sold during the period		--			--			--		--
Purchases, sales and settlements		(1	)		--			--		(1	)
Ending balance, December 31, 2011	$	14		$	2			1	$	17

Benefit Obligation, Plan Assets, and Funded Status

The status of the funded defined benefit pension plan and the unfunded accumulated post-retirement benefit plans at December 31, 2011 and 2010 are shown below (in millions):

	Pension Benefits						Other Post-retirement Benefits
	2011			2010			2011			2010

Change in Benefit Obligation
Benefit obligation at beginning of year	$	355		$	322		$	65		$	54
Service cost		9			8			1			1
Interest cost		20			19			4			3
Plan participants' contributions		--			--			2			3
Actuarial (gain) loss		36			24			(6	)		10
Benefits paid		(18	)		(18	)		(6	)		(6	)
Amendments		(36	)		--			--			--
Benefit obligation at end of year	$	366		$	355		$	60		$	65
Change in Plan Assets
Fair value of plan assets at beginning of year		285			260			--			--
Actual return on plan assets		(15	)		37			--			--
Employer contributions		5			6			--			--
Benefits paid		(18	)		(18	)		--			--
Fair value of plan assets at end of year	$	257		$	285		$	--		$	--

Funded Status and Recognized Liability	$	(109	)	$	(70	)	$	(60	)	$	(65	)

Amounts Recognized on the Consolidated Balance Sheets and in Accumulated Other Comprehensive Loss

Amounts recognized on the consolidated balance sheets and in accumulated other comprehensive loss at December 31, 2011 and 2010 were as follows (in millions):

	Pension Benefits						Other Post-retirement Benefits
	2011			2010			2011			2010

Non-current assets	$	1		$	3		$	--		$	--
Current liabilities		--			--			(3	)		(4	)
Non-current liabilities		(110	)		(73	)		(57	)		(61	)
Total	$	(109	)	$	(70	)	$	(60	)	$	(65	)

Net loss (net of taxes)	$	110		$	70		$	(1	)	$	6
Unrecognized prior service (credit) cost (net of taxes)		(20	)		3			--			--
Total	$	90		$	73		$	(1	)	$	6

Accumulated Benefit Obligation in Excess of Plan Assets

The information for qualified pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2011 and 2010 is shown below (in millions):

	2011		2010

Projected benefit obligation	$	358	$	349
Accumulated benefit obligation	$	355	$	319
Fair value of plan assets	$	248	$	275

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss

	Pension Benefits									Other Post-retirement Benefits
	2011			2010			2009			2011			2010			2009
Components of Net Periodic Benefit Cost
Service cost	$	9		$	8		$	8		$	1		$	1		$	1
Interest cost		20			19			19			4			3			3
Expected return on plan assets		(23	)		(21	)		(20	)		--			--			--
Amortization of net loss		9			8			12			2			--			--
Amortization of prior service cost		1			1			1			--			--			--
Net periodic benefit cost		16			15			20			7			4			4

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax)
Net loss (gain)		45			5			(10	)		(4	)		6			1
Amortization of unrecognized (loss) gain		(5	)		(5	)		(7	)		(1	)		(2	)		--
Prior service (credit) cost		(22	)		--			1			--			--			--
Amortization of prior service cost		(1	)		(1	)		(1	)		--			--			--
Total recognized in other comprehensive income		17			(1	)		(17	)		(5	)		4			1
Total recognized in net periodic benefit cost and
other comprehensive income	$	33		$	14		$	3		$	2		$	8		$	5

Weighted Average Assumptions Used to Determine Benefit Information

The weighted average assumptions used to determine benefit information during 2011, 2010, and 2009, were as follows:

	Pension Benefits									Other Post-retirement Benefits
	2011			2010			2009			2011			2010			2009
Weighted Average Assumptions:
Discount rate		4.80	%		5.75	%		6.25	%		4.90	%		5.75	%		6.25	%
Expected return on plan assets		8.25	%		8.25	%		8.50	%
Rate of compensation increase		4.00	%		4.00	%		4.00	%		4.00	%		4.00	%		4.00	%
Initial health care cost trend rate											9.00	%		10.00	%		9.00	%
Ultimate rate											5.00	%		5.00	%		5.00	%
Year ultimate rate is reached											201	6		201	6		201	4

Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

	Other Post-retirement Benefits
	One Percentage Point
	Increase						Decrease
	2011		2010		2009		2011			2010			2009

Effect on total of service and interest cost components	$	1	$	1	$	--	$	(1	)	$	--		$	--
Effect on post-retirement benefit obligation	$	7	$	8	$	5	$	(6	)	$	(6	)	$	(4	)

Estimated Future Benefit Payments For the Next Ten Years

The estimated future benefit payments for the next ten years are as follows (in millions):

	Pension			Non-qualified			Post-retirement
Year	Benefits			Plan Benefits			Benefits

2012		$	19		$	4		$	3
2013			20			1			3
2014			21			1			3
2015			21			1			3
2016			22			5			4
2017-2021			118			2			18

Information Regarding Multiemployer Plans

The last column lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject.

		Pension Protection Act Zone Status as of December 31,		FIP/RP Status	Contributions of Matson ($ in millions)							Expiration Date of Collective
Pension Fund	EIN/Pension Plan Number	2011	2010	Pending/ Implemented		2011		2010		2009	Surcharge Imposed	Bargaining Agreement
Hawaii Stevedoring Multiemployer Retirement Plan	99-0314293/001	Yellow	Yellow	Implemented	$	2.2	$	2.0	$	2.0	No	6/30/2014
Master, Mates and Pilots	13-6372630/001	Green	Red	None		3.0		2.9		2.6	No	6/15/2012-8/15/2013
Hawaii Terminals Multiemployer Pension Plan	20-0389370/001	Yellow	Yellow	Implemented		5.2		5.2		5.0	No	6/30/2014
OCU Trust Pension	26-1574440/001	Green	Green	None		0.1		0.1		0.1	No	6/30/2010
Other Plans						-		-		-
Total					$	10.5	$	10.2	$	9.7

Matson was listed in its plans' Forms 5500 as providing more than five percent of the total contributions for the following plans and plan years:

Pension Plan			Year Contributions to Plan Exceeded More than 5 Percent of Total Contributions (as of December 31 of the Plan's Year-End)
Hawaii Stevedoring Multiemployer Pension Plan			2011, 2010 and 2009
Hawaii Terminals Multiemployer Pension Plan			2011, 2010 and 2009
Masters, Mates and Pilots Pension Plan			2010 and 2009*

* As of the date the financial statements were issued, Form 5500 was not available for the plan year ending in 2011.

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2011

INCOME TAXES [Abstract]

Income Tax from Continuing Operations

The income tax expense on income from continuing operations for each of the three years in the period ended December 31, 2011 consisted of the following (in millions):

	2011			2010			2009
Current:
Federal	$	40		$	43		$	24
State and foreign		4			6			2
Current		44			49			26
Deferred:
Federal		(10	)		(3	)		(23	)
State and foreign		(2	)		(1	)		2
Deferred		(12	)		(4	)		(21	)
Total continuing operations tax expense	$	32		$	45		$	5

Income Tax Reconciliation

	2011		2010		2009

Computed federal income tax expense	$	30	$	40	$	4
State income taxes		2		5		4
Tax effect of HS&TC consolidation		--		--		(2	)
Other-net		--		--		(1	)
Income tax expense	$	32	$	45	$	5

Temporary Differences Affecting Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31 of each year are as follows (in millions):

	2011		2010
Deferred tax assets:
Benefit plans	$	82	$	77
Insurance reserves		10		10
Capitalized development costs		16		14
Other		10		6
Total deferred tax assets		118		107

Deferred tax liabilities:
Basis differences for property and equipment		293		287
Tax-deferred gains on real estate transactions		213		216
Capital Construction Fund		3		3
Joint ventures and other investments		1		7
Other		21		17
Total deferred tax liabilities		531		530

Net deferred tax liability	$	413	$	423

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in millions):

Balance at January 1, 2009	$	6
Additions for tax positions of prior years		--
Additions for tax positions of current year		3
Reductions for tax positions of prior years		--
Reductions for lapse of statute of limitations		(1	)
Balance at December 31, 2009		8
Additions for tax positions of prior years		--
Additions for tax positions of current year		2
Reductions for tax positions of prior years		(1	)
Reductions for lapse of statute of limitations		(1	)
Balance at December 31, 2010		8
Additions for tax positions of prior years		1
Additions for tax positions of current year		(1	)
Reductions for tax positions of prior years		--
Reductions for lapse of statute of limitations		(1	)
Balance at December 31, 2011	$	7

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References+ Details

SHARE-BASED AWARDS (Tables)

12 Months Ended

Dec. 31, 2011

SHARE-BASED AWARDS [Abstract]

Valuation Assumptions

The weighted average grant-date fair values of the options granted during 2011, 2010, and 2009 were $8.92, $6.59, and $2.79, respectively, per option, using the following weighted average assumptions provided in the table below:

	2011	2010	2008

Expected volatility	29.2%	28.8%	24.8%
Expected term (in years)	6.0	5.8	5.8
Risk-free interest rate	2.3%	2.7%	1.9%
Dividend yield	3.1%	3.8%	5.4%

Stock Option Activity

The following table summarizes 2011 stock option activity for the Company's plans (in thousands, except exercise price amounts):

									Weighted	Weighted
			1998		1998				Average	Average	Aggregate
	2007		Employee		Director		Total		Exercise	Contractual	Intrinsic
	Plan		Plan		Plan		Shares		Price	Life	Value

Outstanding January 1, 2011	1,332		1,055		190		2,577		$37.10
Granted	317		--		--		317		$40.75
Exercised	(86	)	(208	)	(17	)	(311	)	$29.59
Forfeited and expired	(18	)	(11	)	--		(29	)	$43.83
Outstanding December 31, 2011	1,545		836		173		2,554		$38.39	5.4	$13,595

Vested or expected to vest	1,530		836		173		2,539		$40.10	5.4	$13,459
Exercisable December 31, 2011	805		836		173		1,814		$40.10	4.3	$8,434

Non-Vested Restricted Stock Unit Activity

The following table summarizes 2011 non-vested common stock and restricted stock unit activity (in thousands, except weighted-average, grant-date fair value amounts):


	2007
	Plan		Weighted
	Restricted		Average
	Stock		Grant-Date
	Units		Fair Value
January 1, 2011	330		$31.15
Granted	259		$38.78
Vested	(175	)	$32.24
Forfeited	(5	)	$34.85
Outstanding December 31, 2011	409		$35.48

Summary of Compensation Cost and Other Measures Related to Share-Based Payments

A summary of the compensation cost and other measures related to share-based payments is as follows (in millions):

	2011			2010			2009
Share-based expense (net of estimated forfeitures):
Stock options	$	2		$	2		$	4
Non-vested stock & restricted stock units		6			6			5
Total share-based expense		8			8			9
Total recognized tax benefit		(2	)		(3	)		(3	)
Share-based expense (net of tax)	$	6		$	5		$	6

Cash received upon option exercise	$	9		$	7		$	--
Intrinsic value of options exercised	$	5		$	2		$	--
Tax benefit realized upon option exercise	$	2		$	1		$	--
Fair value of stock vested	$	7		$	4		$	3

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2011

COMMITMENTS AND CONTINGENCIES [Abstract]

Commitments and Financial Arrangements

Commitments and financial arrangements, excluding lease commitments that are described in Note 8, included the following as of December 31, 2011 (in millions):

Standby letters of credit	(a)	$	19
Bonds	(b)	$	30
Benefit plan withdrawal obligations	(c)	$	87

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9-12, 22-40

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

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+ Details

INDUSTRY SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2011

INDUSTRY SEGMENTS [Abstract]

Segment Information

Industry segment information for 2011, 2010, and 2009 is summarized below (in millions):

For the Year	2011			2010			2009
Revenue:
Transportation:
Ocean transportation	$	1,077.6		$	1,016.5		$	888.6
Logistics services		386.4			355.6			320.9
Real Estate:
Leasing		100.1			94.4			103.2
Sales		66.2			136.1			125.6
Less amounts reported in discontinued operations1		(47.5	)		(126.7	)		(136.6	)
Agribusiness5		161.7			163.9			107.0
Reconciling Items 2		(22.1	)		(26.3	)		(16.3	)
Total revenue	$	1,722.4		$	1,613.5		$	1,392.4
Operating Profit:
Transportation:
Ocean transportation3	$	74.1		$	118.7		$	58.3
Logistics services		5.0			7.2			6.7
Real Estate:
Leasing		39.3			35.3			43.2
Sales3		15.5			50.1			39.1
Less amounts reported in discontinued operations1		(23.8	)		(54.5	)		(59.2	)
Agribusiness5		22.2			6.1			(27.8	)
Total operating profit		132.3			162.9			60.3
Interest expense, net4		(24.8	)		(25.5	)		(25.9	)
General corporate expenses		(20.3	)		(23.3	)		(21.8	)
Income from continuing operations before income taxes		87.2			114.1			12.6
Income taxes		32.3			44.7			5.0
Income from continuing operations		54.9			69.4			7.6
Discontinued operations		(20.7	)		22.7			36.6
Net income	$	34.2		$	92.1		$	44.2

1	Prior year amounts restated for amounts treated as discontinued operations.

2	Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.

4	Includes Ocean Transportation interest expense of $7.7 million, $8.2 million, and $9.0 million for 2011, 2010, and 2009, respectively. Substantially all other interest expense was at the parent company.

5	Includes a $4.9 million gain in 2010 related to an agriculture disaster relief payment for drought experienced in prior years and a $5.4 million gain recorded upon consolidation of HS&TC in 2009.

As of December 31:	2011		2010		2009
Identifiable Assets:
Ocean transportation6	$	1,082.6	$	1,095.5	$	1,095.2
Logistics services		76.8		73.8		72.4
Real estate leasing		770.9		739.4		627.4
Real estate sales6		451.4		420.8		415.6
Agribusiness		157.8		150.3		156.8
Other		4.8		14.8		12.2
Total assets	$	2,544.3	$	2,494.6	$	2,379.6
Capital Expenditures:
Ocean transportation	$	44.2	$	69.4	$	12.7
Logistics services7		3.0		1.8		0.6
Real estate leasing8		43.6		164.7		108.8
Real estate sales9		5.2		0.1		0.1
Agribusiness		10.5		6.8		3.4
Other		--		0.3		0.3
Total capital expenditures	$	106.5	$	243.1	$	125.9
Depreciation and Amortization:
Ocean transportation	$	70.6	$	69.0	$	67.1
Logistics services		3.2		3.2		3.5
Real estate leasing1		21.6		20.3		19.5
Real estate sales		0.2		0.2		0.3
Agribusiness		11.9		12.7		11.9
Other		1.1		1.9		3.1
Total depreciation and amortization	$	108.6	$	107.3	$	105.4

7	Excludes expenditures related to Matson Logistics' acquisitions, which are classified as acquisition of businesses in Cash Flows from Investing Activities within the Consolidated Statements of Cash Flows.

8	Represents gross capital additions to the leasing portfolio, including gross tax-deferred property purchases that are reflected as non-cash transactions in the Consolidated Statements of Cash Flows.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

QUARTERLY INFORMATION (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2011

QUARTERLY INFORMATION (Unaudited) [Abstract]

Segment Results by Quarter

Segment results by quarter for 2011 are listed below (in millions, except per-share amounts):

	2011
	Q1			Q2			Q3			Q4
Revenue:
Transportation:
Ocean transportation	$	238.4		$	274.8		$	281.8		$	282.6
Logistics services		91.3			103.1			99.2			92.8
Real Estate:
Leasing		26.0			25.2			24.5			24.4
Sales		23.4			30.7			9.3			2.8
Less amounts reported in discontinued operations 1		(15.2	)		(23.1	)		(8.8	)		(0.4	)
Agribusiness		16.1			44.7			38.5			62.4
Reconciling Items 2		(6.5	)		(6.9	)		(4.3	)		(4.4	)
Total Revenue	$	373.5		$	448.5		$	440.2		$	460.2
Operating Profit (Loss):
Transportation:
Ocean transportation	$	5.4		$	27.1		$	28.6		$	13.0
Logistics services		1.5			2.1			2.0			(0.6	)
Real Estate:
Leasing		10.6			10.4			9.2			9.1
Sales		12.0			10.6			3.5			(10.6	)
Less amounts reported in discontinued operations1		(7.2	)		(9.2	)		(7.0	)		(0.4	)
Agribusiness		2.6			8.5			3.8			7.3
Total operating profit		24.9			49.5			40.1			17.8
Interest Expense		(6.2	)		(6.1	)		(6.3	)		(6.2	)
General Corporate Expenses		(4.2	)		(4.2	)		(4.8	)		(7.1	)
Income From Continuing Operations before Income Taxes		14.5			39.2			29.0			4.5
Income taxes		5.8			15.1			10.6			0.8
Income From Continuing Operations		8.7			24.1			18.4			3.7
Discontinued Operations1		(3.5	)		(5.4	)		(9.7	)		(2.1	)
Net Income	$	5.2		$	18.7		$	8.7		$	1.6

Earnings Per Share:
Basic	$	0.13		$	0.45		$	0.21		$	0.04
Diluted	$	0.12		$	0.44		$	0.21		$	0.04

1	See Note 2 for discussion of discontinued operations.

2	Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.

Segment results by quarter for 2010 are listed below (in millions, except per-share amounts):

	2010
	Q1			Q2			Q3			Q4
Revenue:
Transportation:
Ocean transportation	$	229.5		$	257.2		$	261.8		$	268.0
Logistics services		77.1			88.6			92.4			97.5
Real Estate:
Leasing		23.6			23.2			24.4			23.2
Sales		60.3			22.0			4.3			49.5
Less amounts reported in discontinued operations 1		(58.4	)		(20.7	)		(3.3	)		(44.3	)
Agribusiness2		14.2			29.8			60.4			59.5
Reconciling Items 3		(4.2	)		(3.6	)		(2.7	)		(15.8	)
Total Revenue	$	342.1		$	396.5		$	437.3		$	437.6
Operating Profit (Loss):
Transportation:
Ocean transportation	$	10.4		$	37.0		$	42.5		$	28.8
Logistics services		1.9			1.5			1.8			2.0
Real Estate:
Leasing		9.1			8.5			9.3			8.4
Sales		21.4			8.0			2.9			17.8
Less amounts reported in discontinued operations1		(22.8	)		(10.6	)		(2.1	)		(19.0	)
Agribusiness2		(1.1	)		1.8			0.8			4.6
Total operating profit		18.9			46.2			55.2			42.6
Interest Expense		(6.5	)		(6.5	)		(6.3	)		(6.2	)
General Corporate Expenses		(6.6	)		(4.5	)		(7.7	)		(4.5	)
Income From Continuing Operations before Income Taxes		5.8			35.2			41.2			31.9
Income taxes		3.0			13.1			15.5			13.1
Income From Continuing Operations		2.8			22.1			25.7			18.8
Discontinued Operations1		14.5			6.8			--			1.4
Net Income	$	17.3		$	28.9		$	25.7		$	20.2

Earnings Per Share:
Basic	$	0.42		$	0.70		$	0.62		$	0.49
Diluted	$	0.42		$	0.70		$	0.62		$	0.48

1	See Note 2 for discussion of discontinued operations.

2	Includes a $4.9 million gain in the fourth quarter of 2010 related to a agriculture disaster relief payment for drought experienced in prior years.

3	Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.

PARENT COMPANY CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2011

PARENT COMPANY CONDENSED FINANCIAL INFORMATION [Abstract]

Parent Company's Condensed Balance Sheets

The following table presents the Parent Company's condensed balance sheets as of December 31, 2011 and 2010 (in millions):

	2011			2010
ASSETS
Current Assets:
Cash and cash equivalents	$	1		$	-
Accounts and other receivables, net		3			5
Inventories		24			16
Real estate held for sale		--			3
Prepaid expenses and other		5			6
Total current assets		33			30
Investments:
Subsidiaries consolidated, at equity		1,313			1,299
Property, at Cost		518			501
Less accumulated depreciation and amortization		237			225
Property – net		281			276
Other Assets		16			17
Total	$	1,643		$	1,622

LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Current portion of long-term debt	$	34		$	108
Accounts payable		6			8
Income taxes payable		22			2
Non-qualified benefit plans		1			1
Other		17			17
Total current liabilities		80			136
Long-term Debt		308			230
Employee Benefit Plans		41			27
Non-qualified Benefit Plans		8			10
Other Long-term Liabilities		19			11
Deferred Income Taxes		50			50
Due to Subsidiaries		14			22
Shareholders' Equity:
Capital stock		34			34
Additional capital		239			223
Accumulated other comprehensive loss		(92	)		(82	)
Retained earnings		953			972
Cost of treasury stock		(11	)		(11	)
Total shareholders' equity		1,123			1,136
Total	$	1,643		$	1,622

Parent Company's Condensed Statements of Income

The following table presents the Parent Company's condensed statements of income for the years ended December 31, 2011, 2010, and 2009 (in millions):

	2011			2010			2009
Revenue:
Agribusiness	$	128		$	117		$	73
Real estate leasing		24			16			13
Real estate sales		15			2			8
Interest and other		3			6			2
Total revenue		170			141			96

Costs and Expenses:
Cost of agribusiness goods and services		113			114			109
Cost of real estate sales and leasing		21			11			9
Selling, general and administrative		21			24			21
Interest and other		16			16			16
Income tax benefit (expense)		2			(12	)		(22	)
Total costs and expenses		173			153			133

Loss from Continuing Operations		(3	)		(12	)		(37	)

Discontinued Operations, net of income taxes		2			24			11

Income (Loss) Before Equity in Income of Subsidiaries Consolidated		(1	)		12			(26	)

Equity in Income from Continuing Operations of Subsidiaries Consolidated		58			81			44

Equity in Income (Loss) from Discontinued Operations of Subsidiaries Consolidated		(23	)		(1	)		26

Net Income		34			92			44

Other Comprehensive Income (Loss), net of income taxes		(10	)		(1	)		15

Comprehensive Income	$	24		$	91		$	59

Parent Company's Condensed Statements of Cash Flows

The following table presents the Parent Company's condensed statements of cash flows for the years ended December 31, 2011, 2010, and 2009 (in millions):

	2011			2010			2009
Cash Flows from Operations (including dividends received from subsidiaries)	$	96		$	37		$	90

Cash Flows from Investing Activities:
Capital expenditures		(10	)		(14	)		(6	)
Purchase of investments		(58	)		(67	)		(96	)
Proceeds from disposal of property and sale of investments		12			36			28
Net cash used in investing activities		(55	)		(45	)		(74	)

Cash Flows from Financing Activities:
Change in intercompany payables/receivables		--			--			(13	)
Proceeds from (repayments of) long-term debt, net		3			52			51
Proceeds from issuance of capital stock and other		10			7			(1	)
Repurchases of capital stock		--			--			--
Dividends paid		(53	)		(52	)		(52	)
Net cash used in financing activities		(40	)		7			(15	)

Cash and Cash Equivalents:
Net increase (decrease) for the year		1			(1	)		1
Balance, beginning of year		--			1			--
Balance, end of year	$	1		$	--		$	1

Other Cash Flow Information:
Interest paid	$	(16	)	$	(15	)	$	(13	)
Income taxes paid, net of refunds	$	(25	)	$	(46	)	$	(38	)

Other Non-cash Information:
Depreciation expense	$	16		$	16		$	17
Tax-deferred property sales	$	16		$	65		$	29
Tax-deferred property purchases	$	(12	)	$	(78	)	$	(40	)

Parent Company's Long-Term Debt

Long-term Debt: At December 31, 2011 and 2010, long-term debt consisted of the following (in millions):

	2011			2010

Revolving Credit loans (1.24% for 2011 and 0.57% for 2010)	$	113		$	93
Term Loans:
6.90%, payable through 2020		100			100
5.53%, payable through 2016		42			50
5.55%, payable through 2017		50			50
5.56%, payable through 2016		25			25
4.10%, payable through 2012		4			12
6.20%, payable through 2013, secured by Deere Valley Center		2			2
5.50%, payable through 2014, secured by Little Cottonwood Center		6			6
Total		342			338
Less current portion		(34	)		(108	)
Long-term debt	$	308		$	230

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) In Millions, except Share data, unless otherwise specified	1 Months Ended	12 Months Ended			1 Months Ended	12 Months Ended		1 Months Ended		12 Months Ended									12 Months Ended									12 Months Ended			12 Months Ended
	Mar. 31, 2011	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Jan. 31, 2012 Stock Options [Member]	Dec. 31, 2011 Stock Options [Member]	Jan. 25, 2012 Stock Options [Member]	Jan. 31, 2012 Time-Based Restricted Stock Units [Member]	Jan. 31, 2012 Performance-Based Restricted Stock Units [Member]	Dec. 31, 2011 Stock Options [Member]	Dec. 31, 2010 Stock Options [Member]	Dec. 31, 2009 Stock Options [Member]	Dec. 31, 2011 Customer lists [Member]	Dec. 31, 2010 Customer lists [Member]	Dec. 31, 2011 In-place leases [Member]	Dec. 31, 2010 In-place leases [Member]	Dec. 31, 2011 Other [Member]	Dec. 31, 2010 Other [Member]	Dec. 31, 2011 Vessels [Member] Y	Dec. 31, 2011 Buildings [Member] Y	Dec. 31, 2011 Water, power and sewer systems [Member] Y	Dec. 31, 2011 Machinery and equipment [Member] Y	Dec. 31, 2011 Other property improvements [Member] Y	Dec. 31, 2011 Carrying amount [Member]	Dec. 31, 2010 Carrying amount [Member]	Dec. 31, 2011 Fair value [Member]	Dec. 31, 2010 Fair value [Member]	Dec. 31, 2011 Transportation Industry [Member]	Dec. 31, 2010 Transportation Industry [Member]	Dec. 31, 2011 Transportation Industry [Member] SSA Terminals, LLC [Member]	Dec. 31, 2011 Real Estate Industry [Member]	Dec. 31, 2011 Agribusiness Industry [Member]
Description of business [Abstract]
Number of operating segments		5																										2			2	1
Number of industries		3
Equity method investment, ownership percentage (in hundredths)																												35.00%		35.00%
Proceeds from sale of business and productive assets	$ 14
Fiscal year [Abstract]
Number of weeks in fiscal year																												52	53
Impairment of investments [Abstract]
Impairment loss on joint venture investment			1.9
Cash and cash equivalents [Abstract]
Outstanding checks in excess of funds on deposit		13	14
Fair value of financial instruments [Abstract]
Fair value of long-term debt																								559	587	522	546
Allowance for doubtful accounts [Roll Forward]
Balance at Beginning of year		8	10	8
Expense		0	0	3
Write-offs and Other		(1)	(2)	(1)
Balance at End of Year		7	8	10
Inventories [Abstract]
Sugar and coffee inventories		16	16
Materials and supplies inventories		24	19
Total		40	35
Dry-docking [Abstract]
Range of scheduled dry-dock intervals (in years)		from two to five years
Property, Plant and Equipment [Line Items]
Estimated useful life, minimum (in years)																			10	10	5	2	3
Estimated useful life, maximum (in years)																			40	40	50	35	35
Capitalized interest [Abstract]
Total interest cost incurred		25	26	26
Changes in carrying amount of goodwill [Roll Forward]
Beginning Balance		27	27
Additions		0	0
Ending Balance		27	27	27
Amortized intangible assets [Abstract]
Gross Carrying Amount		38	38										12	12	15	15	11	11
Accumulated Amortization		(23)	(17)										(6)	(5)	(9)	(7)	(8)	(5)
Aggregate intangible asset amortization		6	5	4
Estimated amortization expenses [Abstract]
2012		3
2013		3
2014		2
2015		2
2016		1
Basic and diluted earnings per share ("EPS") of common stock [Abstract]
Securities excluded from the computation of weighted average dilutive shares outstanding (in shares)										1,400,000	1,600,000	1,800,000
Denominator used to compute basic and diluted earnings per share [Abstract]
Denominator for basic EPS: weighted average shares outstanding (in shares)		41,600,000	41,200,000	41,000,000
Effect of dilutive securities [Abstract]
Outstanding stock options and non-vested stock units (in shares)		400,000	300,000	100,000
Denominator for diluted EPS: weighted average shares outstanding (in shares)		42,000,000	41,500,000	41,100,000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)					132,681	317,000
Stock options granted, weighted average exercise price (in dollars per share)						$ 40.75	$ 46.27
Equity instruments other than options granted (in units)								111,853	41,064
Vesting period (in years)								3Y	3Y
Performance period (in years)									1Y
Unrealized components of benefit plans [Abstract]
Pension plans		(90)	(73)	(73)
Postretirement plans		1	(4)	0
Non-qualified benefit plans		(1)	(4)	(6)
SSAT pension plan and other		(2)	(1)	(2)
Accumulated other comprehensive loss		(92)	(82)	(81)
Restricted net assets of Matson that may not be transferred to the Company		$ 259

DISCONTINUED OPERATIONS (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Total Operating Profit (Loss) Before Taxes

$ (33)

$ 36

$ 59

Income Tax Expense

(12)

Income (Loss) from Discontinued Operations

(2.1)

^[1]

(9.7)

^[1]

(5.4)

^[1]

(3.5)

^[1]

1.4

6.8

14.5

(21.0)

23.0

37.0

Basic Earnings Per Share (in dollars per share)

$ (0.50)

$ 0.55

$ 0.89

Diluted Earnings Per Share (in dollars per share)

$ (0.50)

$ 0.55

$ 0.89

Real Estate Sales Revenue [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Total Revenue

117

110

Total Operating Profit (Loss) Before Taxes

^[2]

Real Estate Leasing Revenue [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Total Revenue

Total Operating Profit (Loss) Before Taxes

CLX2 Revenue [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Total Revenue

Total Operating Profit (Loss) Before Taxes

$ (57)

$ (19)

$ 0

[1]	See Note 2 for discussion of discontinued operations.
[2]	Represents the gain on sale of income producing properties that are classified as discontinued operations.

- Definition

Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 43

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 47

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (b),(c)

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 20

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6909487&loc=d3e38679-109324

+ Details

- Definition

This element represents the overall income (loss) from a disposal group apportioned to the parent that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References+ Details

- Definition

The amount of net income (loss) derived from discontinued operations during the period, net of related tax effect, per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 8, 9, 10, 36, 37, 38

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.23)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The amount of net income or loss derived from discontinued operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References+ Details

EXIT ACTIVITIES (Details) (CLX2 Discontinued Operations [Member], USD $) In Millions, unless otherwise specified	6 Months Ended	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2011
Restructuring Cost and Reserve [Line Items]
Fair value of obligations arising from exit activities	$ 5.0	$ 5.0
Total cash and non-cash charges expected to be incurred		14.6
Liabilities associated with termination of service [Roll Forward]
Balance at June 30, 2011	0
Expenses incurred	12.5
Amounts paid	(7.5)
Balance at December 31, 2011	5.0	5.0
Container and Charter Liabilities [Member]
Liabilities associated with termination of service [Roll Forward]
Balance at June 30, 2011	0
Expenses incurred	11.8
Amounts paid	(7.0)
Balance at December 31, 2011	4.8	4.8
Other Contractual Liabilities [Member]
Liabilities associated with termination of service [Roll Forward]
Balance at June 30, 2011	0
Expenses incurred	0.7
Amounts paid	(0.6)
Balance at December 31, 2011	$ 0.1	$ 0.1

- Definition

Amount expected to be charged against earnings in the current and future periods for the specified restructuring cost.

+ References+ Details

- Definition

Amount of cash paid in the period to fully or partially settle a specified, previously accrued type of restructuring cost.

+ References+ Details

INVESTMENTS IN AFFILIATES (Details) (USD $)
In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

INVESTMENTS IN AFFILIATES [Abstract]

Undistributed earnings of investments in affiliates

$ 41

Dividends and distributions from unconsolidated affiliates

Investment in Unconsolidated Affiliated Companies:

Total Investments

347

329

Real Estate and Other [Member]

Investment in Unconsolidated Affiliated Companies:

Total Investments

291

276

Real Estate Industry [Member]

Summary of financial information by industry [Abstract]

Current assets

Noncurrent assets

612

623

Total assets

633

665

Current liabilities

Noncurrent liabilities

112

164

Total liabilities

129

179

Operating revenue

Operating costs and expenses

Operating (loss) income

(12)

Income (loss) from continuing operations

(15)

Net income (loss)

(15)

Real Estate Industry [Member] | Joint Venture with DMB Communities II [Member]

Summary of financial information by industry [Abstract]

Description of principal activities

development of Kukui`ula, a master planned resort residential community located in Poipu, Kauai, planned for approximately 1,500 resort residential units.

Capital and value of land contributed, net of joint venture earnings and losses

245

Real Estate Industry [Member] | Waiawa [Member]

Summary of financial information by industry [Abstract]

Impairment losses, Equity method investment

6.4

Transportation Industry [Member]

Investment in Unconsolidated Affiliated Companies:

Total Investments

Summary of financial information by industry [Abstract]

Current assets

Noncurrent assets

119

111

Total assets

209

199

Current liabilities

Noncurrent liabilities

Total liabilities

Operating revenue

579

568

476

Operating costs and expenses

572

548

470

Operating (loss) income

Income (loss) from continuing operations

^[1]

Net income (loss)

Membership interest (in hundredths)

35.00%

Transportation Industry [Member] | SSA Terminals, LLC [Member]

Summary of financial information by industry [Abstract]

Description of principal activities

provides stevedoring and terminal services at six terminals in three West Coast ports to the Company and other shipping lines.

Membership interest (in hundredths)

35.00%

Cost of ocean transportation services from transactions with unconsolidated affiliate

$ 175

$ 157

$ 135

[1]	Includes earnings from equity method investments held by the investee.

PROPERTY (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Property, Plant and Equipment [Line Items]
Property - gross	$ 2,962	$ 2,901
Less accumulated depreciation and amortization	(1,328)	(1,250)
Property - net	1,634	1,651
Vessels [Member]
Property, Plant and Equipment [Line Items]
Property - gross	1,232	1,220
Less accumulated depreciation and amortization	(641)	(600)
Property - net	591	620
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property - gross	675	661
Less accumulated depreciation and amortization	(444)	(425)
Property - net	231	236
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property - gross	564	557
Less accumulated depreciation and amortization	(95)	(86)
Property - net	469	471
Land [Member]
Property, Plant and Equipment [Line Items]
Property - gross	248	236
Less accumulated depreciation and amortization	0	0
Property - net	248	236
Water, power and sewer systems [Member]
Property, Plant and Equipment [Line Items]
Property - gross	121	119
Less accumulated depreciation and amortization	(87)	(84)
Property - net	34	35
Other property improvements [Member]
Property, Plant and Equipment [Line Items]
Property - gross	122	108
Less accumulated depreciation and amortization	(61)	(55)
Property - net	$ 61	$ 53

- Definition

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References+ Details

- Definition

Gross amount, at the balance sheet date, of long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details

- Definition

Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details

CAPITAL CONSTRUCTION FUND (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
CAPITAL CONSTRUCTION FUND [Abstract]
Maximum time period to commit fund deposits for qualified purposes (in years)	25Y
Period over which deposits will be treated as non-qualified withdrawals (in years)	5Y
Accrued withdrawal from the Capital Construction Fund	$ 4.4	$ 4.4
Accrued deposits to Capital Construction Fund	4.4	4.4
Net balance in the consolidated balance sheets	$ 0	$ 0

NOTES PAYABLE AND LONG-TERM DEBT, Debt Instruments (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Total debt	$ 559	$ 522
Less current portion	(52)	(136)
Long term debt	507	386
Long-term Debt Maturities [Abstract]
Due in 2012	52
Due in 2013	45
Due in 2014	54
Due in 2015	45
Due in 2016	206
Due after 2016	157
Revolving Credit Loans [Member]
Debt Instrument [Line Items]
Total debt	173	108
Effective interest rate (in hundredths)	1.29%	0.64%
Long-term Debt Maturities [Abstract]
Due in 2016	161
Title XI Bond 5.27% [Member]
Debt Instrument [Line Items]
Total debt	40	42
Stated interest rate (in hundredths)	5.27%	5.27%
Maturity date	2029	2029
Description of collateral	secured by MV Maunawili	secured by MV Maunawili
Title XI Bond 5.34% [Member]
Debt Instrument [Line Items]
Total debt	37	40
Stated interest rate (in hundredths)	5.34%	5.34%
Maturity date	2028	2028
Description of collateral	secured by MV Manukai	secured by MV Manukai
Term Loan 6.90% [Member]
Debt Instrument [Line Items]
Total debt	100	100
Stated interest rate (in hundredths)	6.90%	6.90%
Maturity date	2020	2020
Term Loan 4.79% [Member]
Debt Instrument [Line Items]
Total debt	60	66
Stated interest rate (in hundredths)	4.79%	4.79%
Maturity date	2020	2020
Description of collateral	secured by MV Manulani	secured by MV Manulani
Term Loan 5.55% [Member]
Debt Instrument [Line Items]
Total debt	50	50
Stated interest rate (in hundredths)	5.55%	5.55%
Maturity date	2017	2017
Term Loan 5.53% [Member]
Debt Instrument [Line Items]
Total debt	42	50
Stated interest rate (in hundredths)	5.53%	5.53%
Maturity date	2016	2016
Term Loan 5.56% [Member]
Debt Instrument [Line Items]
Total debt	25	25
Stated interest rate (in hundredths)	5.56%	5.56%
Maturity date	2016	2016
Term Loan 4.10% [Member]
Debt Instrument [Line Items]
Total debt	4	12
Stated interest rate (in hundredths)	4.10%	4.10%
Maturity date	2012	2012
Term Loan 6.20% [Member]
Debt Instrument [Line Items]
Total debt	10	11
Stated interest rate (in hundredths)	6.20%	6.20%
Maturity date	2013	2013
Description of collateral	secured by Deere Valley Center	secured by Deere Valley Center
Term Loan 6.38% [Member]
Debt Instrument [Line Items]
Total debt	8	8
Stated interest rate (in hundredths)	6.38%	6.38%
Maturity date	2017	2017
Description of collateral	secured by Midstate 99 Distribution Ctr.	secured by Midstate 99 Distribution Ctr.
Term Loan 5.50% [Member]
Debt Instrument [Line Items]
Total debt	6	6
Stated interest rate (in hundredths)	5.50%	5.50%
Maturity date	2014	2014
Description of collateral	secured by Little Cottonwood Center	secured by Little Cottonwood Center
Term Loan 5.88% [Member]
Debt Instrument [Line Items]
Total debt	3	3
Stated interest rate (in hundredths)	5.88%	5.88%
Maturity date	2014	2014
Description of collateral	secured by Midstate 99 Distribution Ctr.	secured by Midstate 99 Distribution Ctr.
Term Loan 0.00% [Member]
Debt Instrument [Line Items]
Total debt	$ 1	$ 1
Stated interest rate (in hundredths)	0.00%	0.00%
Maturity date	2012	2012

NOTES PAYABLE AND LONG-TERM DEBT, Revolving Credit Facilities and Secured Term Debt (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended		1 Months Ended	12 Months Ended			12 Months Ended
	Dec. 31, 2011	Dec. 31, 2011 Secured Debt [Member]	Dec. 31, 2008 A&B Properties, Inc. [Member] Secured Debt [Member]	Dec. 31, 2011 Revolving Credit Loans [Member]	Dec. 31, 2011 Revolving Credit Loans [Member] A&B (Parent Company) [Member]	Dec. 31, 2011 Revolving Credit Loans [Member] Matson [Member]	Dec. 31, 2011 Prudential facility [Member]	Dec. 31, 2011 Prudential facility [Member] A&B (Parent Company) [Member]
Revolving credit and term facilities [Abstract]
Number of revolving senior credit facilities				2
Number of commercial banks				7
Term of facility (in years)							3Y	3Y
Maximum borrowing capacity				$ 355	$ 230	$ 125	$ 400	$ 400
Expiration date of facility	August 2016			August 2016	August 2016		April 19, 2012	April 19, 2012
Interest rate description	London Interbank Offered Rate “LIBOR” plus a margin based on a ratio of debt to earnings before interest, taxes, depreciation and amortization pricing grid			London Interbank Offered Rate “LIBOR” plus a margin based on a ratio of debt to earnings before interest, taxes, depreciation and amortization pricing grid	London Interbank Offered Rate “LIBOR” plus a margin based on a ratio of debt to earnings before interest, taxes, depreciation and amortization pricing grid		borrowings under the shelf facility bear interest at rates that are determined at the time of the borrowing	borrowings under the shelf facility bear interest at rates that are determined at the time of the borrowing
Covenant terms	maintenance of minimum shareholders' equity levels, minimum unencumbered property investment values, and a maximum ratio of debt to earnings before interest, depreciation, amortization and taxes			maintenance of minimum shareholders' equity levels, minimum unencumbered property investment values, and a maximum ratio of debt to earnings before interest, depreciation, amortization and taxes	maintenance of minimum shareholders' equity levels, minimum unencumbered property investment values, and a maximum ratio of total debt to earnings before interest, depreciation, amortization, and taxes		restrictive covenants that are substantially the same as the covenants contained in the revolving senior credit facilities
Outstanding letters of credit				19	11
Total remaining capacity available for borrowing	$ 283			$ 163	$ 106		$ 120	$ 120
Secured term debt [Abstract]
Term of debt instrument (in years)		15Y		3Y
Number of notes assumed			2

LEASES-THE COMPANY AS LESSEE (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Operating Leased Assets [Line Items]
Expiration date of existing leasing arrangements	2036
Rental expense under operating leases	$ 53	$ 45	$ 30
Future minimum lease payments under non-cancelable operating leases [Abstract]
2012	26
2013	17
2014	15
2015	11
2016	6
Thereafter	16
Total minimum lease payments	91
Terminal Facilities in Honolulu [Member]
Operating Leased Assets [Line Items]
Rental expense under operating leases	$ 27	$ 21	$ 16

LEASES-THE COMPANY AS LESSOR (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Total rental income under operating leases [Abstract]
Minimum rentals	$ 74	$ 70	$ 78
Contingent rentals (based on sales volume)	2	2	3
Total	76	72	81
Future minimum rental income on non-cancelable leases [Abstract]
2012	69
2013	60
2014	50
2015	41
2016	28
Thereafter	110
Total	358
Real Estate [Member] \| Property Subject to Operating Lease [Member]
Leased property [Abstract]
Leased property - gross	844	820
Less accumulated depreciation	(114)	(103)
Property under operating leases - net	$ 730	$ 717

EMPLOYEE BENEFIT PLANS, Plan Asset Allocations (Details) (Pension Benefits [Member])	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Pension Benefits [Member]
Target allocation [Abstract]
Domestic equity securities (in hundredths)	53.00%
International equity securities (in hundredths)	15.00%
Debt securities (in hundredths)	22.00%
Real estate (in hundredths)	10.00%
Other and cash (in hundredths)	0.00%
Total (in hundredths)	100.00%
Weighted-average allocations [Abstract]
Domestic equity securities (in hundredths)	59.00%	62.00%
International equity securities (in hundredths)	14.00%	11.00%
Debt securities (in hundredths)	17.00%	16.00%
Real estate (in hundredths)	6.00%	4.00%
Other and cash (in hundredths)	4.00%	7.00%
Total (in hundredths)	100.00%	100.00%
Basis used to determine long-term rate of return assumption [Abstract]
One-year pension returns (losses) (in hundredths)	(4.20%)
Three-year pension returns (losses) (in hundredths)	8.80%
Five-year pension returns (losses) (in hundredths)	(0.30%)
Long-term average return since plan inception (in hundredths)	8.00%
Long-term rate of return assumption (in hundredths)	8.25%	8.25%	8.50%

EMPLOYEE BENEFIT PLANS, Fair Value of Pension Plan Assets (Details) (Pension Benefits [Member], USD $)
In Millions, unless otherwise specified

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

$ 257

$ 285

$ 260

Cash [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Equity securities: U.S large-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

102

136

Equity securities: U.S mid- and small-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Equity securities: International large-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Equity securities: International mid-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Fixed income securities: U.S. Treasuries [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Fixed income securities: Investment grade U.S. corporate bonds [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Fixed income securities: High-yield U.S. corporate bonds [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Fixed income securities: Mortgage-backed securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Real estate partnerships interests [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Private equity partnership interests [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

^[1]

Insurance contracts [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

195

224

Quoted Prices in Active Markets (Level 1) [Member] | Cash [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Equity securities: U.S large-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

102

136

Quoted Prices in Active Markets (Level 1) [Member] | Equity securities: U.S mid- and small-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Equity securities: International large-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Equity securities: International mid-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Fixed income securities: U.S. Treasuries [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Fixed income securities: Investment grade U.S. corporate bonds [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Fixed income securities: High-yield U.S. corporate bonds [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Fixed income securities: Mortgage-backed securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Real estate partnerships interests [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Quoted Prices in Active Markets (Level 1) [Member] | Private equity partnership interests [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

^[1]

Quoted Prices in Active Markets (Level 1) [Member] | Insurance contracts [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Cash [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Equity securities: U.S large-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Equity securities: U.S mid- and small-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Equity securities: International large-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Equity securities: International mid-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Fixed income securities: U.S. Treasuries [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Fixed income securities: Investment grade U.S. corporate bonds [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Fixed income securities: High-yield U.S. corporate bonds [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Fixed income securities: Mortgage-backed securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Real estate partnerships interests [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Observable Inputs (Level 2) [Member] | Private equity partnership interests [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

^[1]

Significant Observable Inputs (Level 2) [Member] | Insurance contracts [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Cash [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Equity securities: U.S large-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Equity securities: U.S mid- and small-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Equity securities: International large-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Equity securities: International mid-cap [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Fixed income securities: U.S. Treasuries [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Fixed income securities: Investment grade U.S. corporate bonds [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Fixed income securities: High-yield U.S. corporate bonds [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Fixed income securities: Mortgage-backed securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Real estate partnerships interests [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

Significant Unobservable Inputs (Level 3) [Member] | Private equity partnership interests [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

^[1]

Significant Unobservable Inputs (Level 3) [Member] | Insurance contracts [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair value of plan assets

$ 1

[1]	This category represents private equity funds that invest principally in U.S technology companies

- Definition

Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets.

+ References+ Details

EMPLOYEE BENEFIT PLANS, Reconciliation of Pension Plan Investments Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) (Pension Benefits [Member], USD $)
In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Dec. 31, 2011

Real estate partnerships interests [Member]

Dec. 31, 2010

Real estate partnerships interests [Member]

Dec. 31, 2011

Private equity partnership interests [Member]

Dec. 31, 2010

Private equity partnership interests [Member]

Dec. 31, 2011

Insurance contracts [Member]

Dec. 31, 2010

Insurance contracts [Member]

Dec. 31, 2011

Significant Unobservable Inputs (Level 3) [Member]

Dec. 31, 2010

Significant Unobservable Inputs (Level 3) [Member]

Dec. 31, 2011

Significant Unobservable Inputs (Level 3) [Member]

Real estate partnerships interests [Member]

Dec. 31, 2010

Significant Unobservable Inputs (Level 3) [Member]

Real estate partnerships interests [Member]

Dec. 31, 2011

Significant Unobservable Inputs (Level 3) [Member]

Private equity partnership interests [Member]

Dec. 31, 2010

Significant Unobservable Inputs (Level 3) [Member]

Private equity partnership interests [Member]

Dec. 31, 2011

Significant Unobservable Inputs (Level 3) [Member]

Insurance contracts [Member]

Dec. 31, 2010

Significant Unobservable Inputs (Level 3) [Member]

Insurance contracts [Member]

Change in plan assets [Roll Forward]

Fair value of plan assets at beginning of year

$ 257

$ 285

$ 260

$ 14

$ 13

$ 2

^[1]

$ 2

^[1]

$ 1

$ 16

$ 27

$ 13

$ 23

$ 2

^[1]

$ 3

$ 1

Actual return on plan assets [Abstract]

Assets held at the reporting date

Assets sold during the period

(1)

Purchases, sales and settlements

(1)

(13)

(1)

(12)

(1)

Fair value of plan assets at end of year

$ 257

$ 285

$ 260

$ 14

$ 13

$ 2

^[1]

$ 2

^[1]

$ 1

$ 17

$ 16

$ 14

$ 13

$ 2

^[1]

$ 2

^[1]

$ 1

[1]	This category represents private equity funds that invest principally in U.S technology companies

- Definition

+ References+ Details

EMPLOYEE BENEFIT PLANS, Contributions and Cash Balance Pension Plan (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Pension Benefits [Member]
Contributions [Abstract]
Pension contributions	$ 5	$ 6
Cash Balance Defined Benefit Pension Plan [Member]
Cash balance defined benefit pension plan [Abstract]
Description of interest credit rate basis	ten-year U.S. Treasury rate

EMPLOYEE BENEFIT PLANS, Benefit Obligation, Plan Assets, and Funded Status (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Pension Benefits [Member]
Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 355	$ 322
Service cost	9	8	8
Interest cost	20	19	19
Plan participants' contributions	0	0
Actuarial (gain) loss	36	24
Benefits paid	(18)	(18)
Amendments	(36)	0
Benefit obligation at end of year	366	355	322
Change in Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	285	260
Actual return on plan assets	(15)	37
Employer contributions	5	6
Benefits paid	(18)	(18)
Fair value of plan assets at end of year	257	285	260
Funded Status and Recognized Liability	(109)	(70)
Accumulated benefit obligation [Abstract]
Accumulated benefit obligation	363	326
Other Post-retirement Benefits [Member]
Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	65	54
Service cost	1	1	1
Interest cost	4	3	3
Plan participants' contributions	2	3
Actuarial (gain) loss	(6)	10
Benefits paid	(6)	(6)
Amendments	0	0
Benefit obligation at end of year	60	65	54
Change in Plan Assets [Roll Forward]
Benefits paid	(6)	(6)
Funded Status and Recognized Liability	(60)	(65)
Non-qualified Benefit Plans [Member]
Change in Plan Assets [Roll Forward]
Funded Status and Recognized Liability	$ 16

EMPLOYEE BENEFIT PLANS, Amounts Recognized in Consolidated Balance Sheets and Accumulated Other Comprehensive Loss (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Amounts recognized on the consolidated balance sheets [Abstract]
Non-current assets	$ 1	$ 3
Non-current liabilities	(168)	(135)
Pension Benefits [Member]
Amounts recognized on the consolidated balance sheets [Abstract]
Non-current assets	1	3
Current liabilities	0	0
Non-current liabilities	(110)	(73)
Total	(109)	(70)
Amounts recognized in accumulated other comprehensive loss [Abstract]
Net loss (net of taxes)	110	70
Unrecognized prior service (credit) cost (net of taxes)	(20)	3
Total	90	73
Accumulated benefit obligation in excess of plan assets [Abstract]
Projected benefit obligation	358	349
Accumulated benefit obligation	355	319
Fair value of plan assets	248	275
Amounts that will be amortized from accumulated other comprehensive loss in next fiscal year [Abstract]
Estimated net prior service credit, net of tax, that will be recognized in net periodic pension cost in next fiscal year	3
Estimated net loss, net of tax, that will be recognized in net periodic pension cost in next fiscal year	15
Other Post-retirement Benefits [Member]
Amounts recognized on the consolidated balance sheets [Abstract]
Non-current assets	0	0
Current liabilities	(3)	(4)
Non-current liabilities	(57)	(61)
Total	(60)	(65)
Amounts recognized in accumulated other comprehensive loss [Abstract]
Net loss (net of taxes)	(1)	6
Unrecognized prior service (credit) cost (net of taxes)	0	0
Total	(1)	6
Amounts that will be amortized from accumulated other comprehensive loss in next fiscal year [Abstract]
Amortization period of unrecognized gains and losses (in years)	5Y
Non-qualified Benefit Plans [Member]
Amounts recognized in accumulated other comprehensive loss [Abstract]
Net loss (net of taxes)	5
Unrecognized prior service (credit) cost (net of taxes)	(4)
Non-qualified and Post-retirement Benefit Plans [Member]
Amounts recognized on the consolidated balance sheets [Abstract]
Current liabilities	$ (7)

EMPLOYEE BENEFIT PLANS, Net Periodic Benefit Cost and Amounts Recognized in Other Comprehensive Loss (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Pension Benefits [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost	$ 9	$ 8	$ 8
Interest cost	20	19	19
Expected return on plan assets	(23)	(21)	(20)
Amortization of net loss	9	8	12
Amortization of prior service cost	1	1	1
Net periodic benefit cost	16	15	20
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax) [Abstract]
Net loss (gain)	45	5	(10)
Amortization of unrecognized (loss) gain	(5)	(5)	(7)
Prior service (credit) cost	(22)	0	1
Amortization of prior service cost	(1)	(1)	(1)
Total recognized in other comprehensive income	17	(1)	(17)
Total recognized in net periodic benefit cost and other comprehensive income	33	14	3
Other Post-retirement Benefits [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost	1	1	1
Interest cost	4	3	3
Expected return on plan assets	0	0	0
Amortization of net loss	2	0	0
Amortization of prior service cost	0	0	0
Net periodic benefit cost	7	4	4
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax) [Abstract]
Net loss (gain)	(4)	6	1
Amortization of unrecognized (loss) gain	(1)	(2)	0
Prior service (credit) cost	0	0	0
Amortization of prior service cost	0	0	0
Total recognized in other comprehensive income	(5)	4	1
Total recognized in net periodic benefit cost and other comprehensive income	2	8	5
Non-qualified Benefit Plans [Member]
Components of Net Periodic Benefit Cost [Abstract]
Net periodic benefit cost	$ 2	$ 9	$ 3

EMPLOYEE BENEFIT PLANS, Weighted-Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Pension Benefits [Member]
Weighted average assumptions used to determine net periodic benefit cost [Abstract]
Discount rate (in hundredths)	4.80%	5.75%	6.25%
Expected return on plan assets (in hundredths)	8.25%	8.25%	8.50%
Rate of compensation increase (in hundredths)	4.00%	4.00%	4.00%
Weighted average assumptions used to determine benefit obligation [Abstract]
Discount rate (in hundredths)	4.80%	5.75%	6.25%
Rate of compensation increase (in hundredths)	4.00%	4.00%	4.00%
Other Post-retirement Benefits [Member]
Weighted average assumptions used to determine net periodic benefit cost [Abstract]
Discount rate (in hundredths)	4.90%	5.75%	6.25%
Rate of compensation increase (in hundredths)	4.00%	4.00%	4.00%
Weighted average assumptions used to determine benefit obligation [Abstract]
Discount rate (in hundredths)	4.90%	5.75%	6.25%
Rate of compensation increase (in hundredths)	4.00%	4.00%	4.00%
Assumed health care cost trend rates [Abstract]
Initial health care cost trend rate (in hundredths)	9.00%	10.00%	9.00%
Ultimate rate (in hundredths)	5.00%	5.00%	5.00%
Year ultimate rate is reached	2016	2016	2014

EMPLOYEE BENEFIT PLANS, Assumed Health Care Cost Trend Rates and Estimated Future Benefit Payments (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Pension Benefits [Member]
Estimated future benefit payments [Abstract]
2012	$ 19
2013	20
2014	21
2015	21
2016	22
2017-2021	118
Other Post-retirement Benefits [Member]
Effect of one-percentage point change in assumed health care cost trend rates [Abstract]
Effect of one percentage point increase on total of service and interest cost components	1	1	0
Effect of one percentage point increase on post-retirement benefit obligation	7	8	5
Effect of one percentage point decrease on total of service and interest cost components	(1)	0	0
Effect of one percentage point decrease on post-retirement benefit obligation	(6)	(6)	(4)
Estimated future benefit payments [Abstract]
2012	3
2013	3
2014	3
2015	3
2016	4
2017-2021	18
Non-qualified Benefit Plans [Member]
Estimated future benefit payments [Abstract]
2012	4
2013	1
2014	1
2015	1
2016	5
2017-2021	$ 2

EMPLOYEE BENEFIT PLANS, Multiemployer Plans and Defined Contribution Plans (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Multiemployer Plans [Abstract]
Number of multiemployer plans	9
Description of multiemployer plan	Contributions are generally based on union labor paid or cargo volume. A portion of such contributions is for unfunded accrued actuarial liabilities of the plans being funded over periods of 25 to 40 years, which began between 1967 and 1976.
Schedule of Multiemployer Plans [Line Items]
Maximum funded percentage of plans in the red zone (in hundredths)	65.00%
Maximum funded percentage of plans in the yellow zone (in hundredths)	80.00%
Minimum funded percentage of plans in the green zone (in hundredths)	80.00%
Threshold of total contributions for which plans and years are disclosed (in hundredths)	5.00%
Contributions of Matson	$ 10.5	$ 10.2	$ 9.7
401(k) Plan [Member]
Defined Contribution Plans [Abstract]
Contribution percentage, maximum (in hundredths)	4.00%		4.00%
Contribution expense	2.2		1.4
Profit Sharing Plan [Member]
Defined Contribution Plans [Abstract]
Contribution percentage, minimum (in hundredths)	1.00%
Contribution percentage, maximum (in hundredths)	3.00%
Master, Mates and Pilots [Member]
Schedule of Multiemployer Plans [Line Items]
EIN/Pension Plan Number	13-6372630/001	13-6372630/001
Pension Protection Act Zone Status	Green	Red
FIP/RP Status Pending/ Implemented	None	None
Contributions of Matson	3.0	2.9	2.6
Surcharge Imposed	No	No	No
Expiration Date of Collective Bargaining Agreement, Minimum	Jun. 15, 2012
Expiration Date of Collective Bargaining Agreement, Maximum	Aug. 15, 2013
Special amortization rules provided by Public Law (in years)	29
Number of collective-bargaining agreements based upon vessels that require contributions to the plan	2
Number of vessels covered by Contract A	13
Number of vessels covered by Contract B	1
Hawaii Terminals Multiemployer Pension Plan [Member]
Schedule of Multiemployer Plans [Line Items]
EIN/Pension Plan Number	20-0389370/001	20-0389370/001
Pension Protection Act Zone Status	Yellow	Yellow
FIP/RP Status Pending/ Implemented	Implemented	Implemented
Contributions of Matson	5.2	5.2	5.0
Surcharge Imposed	No	No	No
Expiration Date of Collective Bargaining Agreement	Jun. 30, 2014
Hawaii Stevedoring Multiemployer Retirement Plan [Member]
Schedule of Multiemployer Plans [Line Items]
EIN/Pension Plan Number	99-0314293/001	99-0314293/001
Pension Protection Act Zone Status	Yellow	Yellow
FIP/RP Status Pending/ Implemented	Implemented	Implemented
Contributions of Matson	2.2	2.0	2.0
Surcharge Imposed	No	No	No
Expiration Date of Collective Bargaining Agreement	Jun. 30, 2014
OCU Trust Pension [Member]
Schedule of Multiemployer Plans [Line Items]
EIN/Pension Plan Number	26-1574440/001	26-1574440/001
Pension Protection Act Zone Status	Green	Green
FIP/RP Status Pending/ Implemented	None	None
Contributions of Matson	$ 0.1	$ 0.1	$ 0.1
Surcharge Imposed	No	No	No
Expiration Date of Collective Bargaining Agreement	Jun. 30, 2010

INCOME TAXES (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Current:
Federal	$ 40	$ 43	$ 24
State and foreign	4	6	2
Current	44	49	26
Deferred:
Federal	(10)	(3)	(23)
State and foreign	(2)	(1)	2
Deferred	(12)	(4)	(21)
Total continuing operations tax expense	32	45	5
Income tax reconciliation [Abstract]
Computed federal income tax expense	30	40	4
State income taxes	2	5	4
Tax effect of HS&TC consolidation	0	0	(2)
Other-net	0	0	(1)
Total continuing operations tax expense	32	45	5
Deferred tax assets:
Benefit plans	82	77
Insurance reserves	10	10
Capitalized development costs	16	14
Other	10	6
Total deferred tax assets	118	107
Deferred tax liabilities:
Basis differences for property and equipment	293	287
Tax-deferred gains on real estate transactions	213	216
Capital Construction Fund	3	3
Joint ventures and other investments	1	7
Other	21	17
Total deferred tax liabilities	531	530
Net deferred tax liability	413	423
Net tax benefits from share-based transactions	2.0	0.6
Reconciliation of unrecognized tax benefits [Roll Forward]
Balance at beginning of period	8	8	6
Additions for tax positions of prior years	1	0	0
Additions for tax positions of current year		2	3
Reductions for tax positions of current year	(1)
Reductions for tax positions of prior years	0	(1)	0
Reductions for lapse of statute of limitations	(1)	(1)	(1)
Balance at end of period	7	8	8
Unrecognized tax benefits, that, if recognized, would impact the effective rate	$ 7	$ 8

SHARE-BASED AWARDS, General Disclosures (Details) (USD $)	12 Months Ended			1 Months Ended		12 Months Ended		12 Months Ended
	Dec. 31, 2011 Stock Options [Member]	Dec. 31, 2010 Stock Options [Member]	Dec. 31, 2009 Stock Options [Member]	Jan. 31, 2012 Time-Based Restricted Stock Units [Member]	Jan. 31, 2012 Performance-Based Restricted Stock Units [Member]	Dec. 31, 2011 2007 Plan [Member]	Jan. 28, 2010 2007 Plan [Member]	Dec. 31, 2011 2007 Plan [Member] Discretionary Grant Program [Member] Stock Options [Member]	Dec. 31, 2011 2007 Plan [Member] Stock Issuance Program [Member] Time-Based Restricted Stock Units [Member]	Dec. 31, 2011 2007 Plan [Member] Stock Issuance Program [Member] Performance-Based Restricted Stock Units [Member]	Dec. 31, 2011 2007 Plan [Member] Automatic Grant Program [Member] Restricted Stock Units (RSUs) [Member]	Dec. 31, 2011 Predecessor Plan 1998 Employee Plan [Member] Stock Options [Member]	Dec. 31, 2011 Predecessor Plan 1998 Directors' Plan [Member] Stock Options [Member]
General disclosures [Abstract]
Number of shares of common stock initially reserved for issuance (in shares)						2,215,000
Number of shares available for grant (in shares)						1.9
Additional shares approved for issuance (in shares)							2,200,000
Number of separate incentive compensation programs						4
Number of programs that generally award share-based compensation						3
Minimum percentage of fair market value allowed for exercise price of stock options granted (in hundredths)								100.00%
Vesting period of awards granted (in years)				3Y	3Y			3Y	3Y	3Y	3Y	3Y	3Y
Maximum contractual term (in years)								10Y				10Y
Maximum period from date of grant that reload feature may be triggered (in years)												5Y
Description of option price under reload feature												not less than the greater of the fair market value of the Company's stock on the date of exercise or one and one-half times the original option price
Number of shares that can be purchased with option award (in shares)													8,000
Weighted-average grant-date fair value (in dollars per share)	$ 8.92	$ 6.59	$ 2.79

SHARE-BASED AWARDS, Valuation Assumptions and Option Activity (Details) (Stock Options [Member], USD $) In Thousands, except Share data, unless otherwise specified	1 Months Ended	12 Months Ended
	Jan. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Jan. 25, 2012
Weighted average valuation assumptions [Abstract]
Expected volatility (in hundredths)		29.20%	28.80%	24.80%
Expected term (in years)		6.0	5.8	5.8
Risk-free interest rate (in hundredths)		2.30%	2.70%	1.90%
Dividend yield (in hundredths)		3.10%	3.80%	5.40%
Activity in the Company's stock option plans [Roll Forward]
Outstanding, beginning of period (in shares)	2,554,000	2,577,000
Granted (in shares)	132,681	317,000
Exercised (in shares)		(311,000)
Forfeited and expired (in shares)		(29,000)
Outstanding, end of period (in shares)		2,554,000	2,577,000
Vested or expected to vest (in shares)		2,539,000
Exercisable (in shares)		1,814,000
Stock option plans, additional disclosures [Abstract]
Outstanding, weighted average exercise price, beginning of period (in dollars per share)	$ 38.39	$ 37.10
Granted, weighted average exercise price (in dollars per share)		$ 40.75			$ 46.27
Exercised, weighted average exercise price (in dollars per share)		$ 29.59
Forfeited and expired, weighted average exercise price (in dollars per share)		$ 43.83
Outstanding, weighted average exercise price, end of period (in dollars per share)		$ 38.39	$ 37.10
Vested or expected to vest, weighted average exercise price (in dollars per share)		$ 40.10
Exercisable, weighted average exercise price (in dollars per share)		$ 40.10
Outstanding, weighted average contractual life (in years)		5.4
Vested or expected to vest, weighted average contractual life (in years)		5.4
Exercisable, weighted average contractual life (in years)		4.3
Outstanding, aggregate intrinsic value		$ 13,595
Vested or expected to vest, aggregate intrinsic value		13,459
Exercisable, aggregate intrinsic value		$ 8,434
2007 Plan [Member]
Activity in the Company's stock option plans [Roll Forward]
Outstanding, beginning of period (in shares)		1,332,000
Granted (in shares)		317,000
Exercised (in shares)		(86,000)
Forfeited and expired (in shares)		(18,000)
Outstanding, end of period (in shares)		1,545,000
Vested or expected to vest (in shares)		1,530,000
Exercisable (in shares)		805,000
Predecessor Plan 1998 Employee Plan [Member]
Activity in the Company's stock option plans [Roll Forward]
Outstanding, beginning of period (in shares)		1,055,000
Granted (in shares)		0
Exercised (in shares)		(208,000)
Forfeited and expired (in shares)		(11,000)
Outstanding, end of period (in shares)		836,000
Vested or expected to vest (in shares)		836,000
Exercisable (in shares)		836,000
Predecessor Plan 1998 Directors' Plan [Member]
Activity in the Company's stock option plans [Roll Forward]
Outstanding, beginning of period (in shares)		190,000
Granted (in shares)		0
Exercised (in shares)		(17,000)
Forfeited and expired (in shares)		0
Outstanding, end of period (in shares)		173,000
Vested or expected to vest (in shares)		173,000
Exercisable (in shares)		173,000

SHARE-BASED AWARDS, Non-Vested Restricted Stock Unit Activity (Details) (2007 Plan [Member], Restricted Stock Units [Member], USD $)	12 Months Ended
	Dec. 31, 2011
2007 Plan [Member] \| Restricted Stock Units [Member]
Non-vested restricted stock unit activity [Roll Forward]
Outstanding, beginning of period (in shares)	330,000
Granted (in shares)	259,000
Vested (in shares)	(175,000)
Forfeited (in shares)	(5,000)
Outstanding, end of period (in shares)	409,000
Non-vested restricted stock unit activity, additional disclosures [Abstract]
Outstanding, weighted average grant-date fair value, beginning of period (in dollars per shares)	$ 31.15
Granted, weighted average grant-date fair value (in dollars per shares)	$ 38.78
Vested, weighted average grant-date fair value (in dollars per shares)	$ 32.24
Forfeited, weighted average grant-date fair value (in dollars per shares)	$ 34.85
Outstanding, weighted average grant-date fair value, end of period (in dollars per shares)	$ 35.48

SHARE-BASED AWARDS, Compensation Cost and Other Measures (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Share-based expense (net of estimated forfeitures) [Abstract]
Total share-based expense	$ 8	$ 8	$ 9
Total recognized tax benefit	(2)	(3)	(3)
Share-based expense (net of tax)	6	5	6
Stock Options [Member]
Share-based expense (net of estimated forfeitures) [Abstract]
Total share-based expense	2	2	4
Cash received upon option exercise	9	7	0
Intrinsic value of options exercised	5	2	0
Tax benefit realized upon option exercise	2	1	0
Total unrecognized compensation cost	3
Weighted average period of recognition (in years)	1.4
Non-Vested Stock & Restricted Stock Units [Member]
Share-based expense (net of estimated forfeitures) [Abstract]
Total share-based expense	6	6	5
Fair value of stock vested	7	4	3
Total unrecognized compensation cost	$ 6
Weighted average period of recognition (in years)	1.3

COMMITMENTS AND CONTINGENCIES (Details) (USD $)
In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2011

Dec. 31, 2003

Sugar Refinery Site in Hawaii [Member]

Dec. 31, 2011

Standby letters of credit [Member]

Dec. 31, 2011

Performance and customs bonds [Member]

Dec. 31, 2011

Benefit plan withdrawal obligations [Member]

Dec. 31, 2011

Guarantee of bond obligations of joint venture [Member]

Dec. 31, 2011

Guarantee of bond obligations of joint venture under mutual indemnification agreements [Member]

Dec. 31, 2011

Guarantee of loan of joint venture [Member]

Dec. 31, 2011

Long-term water lease request [Member]

Acre

May 31, 2010

Petitions filed requesting IIFS in East Maui streams [Member]

Sep. 25, 2008

Petitions filed requesting IIFS in East Maui streams [Member]

May 24, 2001

Petitions filed requesting IIFS in East Maui streams [Member]

Dec. 31, 2011

Petitions filed requesting IIFS in West Maui streams [Member]

Jun. 30, 2010

Petitions filed requesting IIFS in West Maui streams [Member]

Jun. 25, 2004

Petitions filed requesting IIFS in West Maui streams [Member]

Feb. 28, 2011

EPA standards for controlling emissions [Member]

Loss Contingencies [Line Items]

Guarantor obligations, maximum exposure

$ 19

^[1]

$ 30

^[2]

$ 3

$ 20

$ 17

Estimate of possible loss

^[3]

Letters of credit amount that enables qualification as self-insurer

Letter of credit amount related to real estate business

U.S. customs bonds guarantees

Surety bonds outstanding

Bonds outstanding

Value of work completed

Watershed lands in East Maui owned (in acres)

16,000

Number of water licenses held and extended as revocable permits

Additional watershed lands accessible by licenses (in acres)

30,000

Capacity of irrigation water supplied by additional watershed lands (in hundredths)

58.00%

Number of organizations that filed a petition to establish IIFS

Number of streams for which IIFS was requested

Number of petitions on which the Water Commission took action

Approximate percentage of irrigation water provided by the West Maui irrigation system (in hundredths)

15.00%

Number of boilers impacted by EPA standards

Maximum potential amount of aggregate future payments under indemnities

Site Contingency [Line Items]

Payments made for environmental remediation costs

1.6

Accrued obligation for environmental remediation costs

$ 2

[1]	Consists of standby letters of credit, issued by the Company's lenders under the Company's revolving credit facilities. Approximately $8 million of the letters of credit are required to allow the Company to qualify as a self-insurer for state and federal workers' compensation liabilities. The balance includes approximately $11 million related to the Company's real estate business. In the event the letters of credit are drawn upon, the Company would be obligated to reimburse the issuer of the letter of credit. None of the letters of credit has been drawn upon to date, and the Company believes it is unlikely that any of these letters of credit will be drawn upon.
[2]	Consists of approximately $16 million of construction bonds related to real estate projects in Hawaii, approximately $13 million in U.S. customs bonds, and approximately $1 million related to transportation and other matters. In the event the bonds are drawn upon, the Company would be obligated to reimburse the surety that issued the bond. None of the bonds has been drawn upon to date, and the Company believes it is unlikely that any of these bonds will be drawn upon.
[3]	Represents the withdrawal liabilities for multiemployer pension plans, in which Matson is a participant. Management has no present intention of withdrawing from and does not anticipate termination of any of the aforementioned plans.

INDUSTRY SEGMENTS (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Segment Reporting Information [Line Items]

Number of operating segments

Number of industries

Revenue

$ 460.2

$ 440.2

$ 448.5

$ 373.5

$ 437.6

$ 437.3

$ 396.5

$ 342.1

$ 1,722.0

$ 1,614.0

$ 1,392.0

Operating Profit

132.3

162.9

60.3

Interest expense, net

(24.8)

^[1]

(25.5)

^[1]

(25.9)

^[1]

General corporate expenses

(7.1)

(4.8)

(4.2)

(4.5)

(7.7)

(4.5)

(6.6)

(20.3)

(23.3)

(21.8)

Income From Continuing Operations Before Income Taxes

4.5

29.0

39.2

14.5

31.9

41.2

35.2

5.8

87.0

114.0

12.0

Income taxes

0.8

10.6

15.1

5.8

13.1

15.5

13.1

3.0

32.0

45.0

5.0

Income From Continuing Operations

3.7

18.4

24.1

8.7

18.8

25.7

22.1

2.8

55.0

69.0

7.0

Discontinued operations

(2.1)

^[2]

(9.7)

^[2]

(5.4)

^[2]

(3.5)

^[2]

1.4

6.8

14.5

(21.0)

23.0

37.0

Net income

1.6

8.7

18.7

5.2

20.2

25.7

28.9

17.3

34.0

92.0

44.0

Assets

2,544.0

2,495.0

2,544.0

2,495.0

2,379.0

Capital Expenditures

106.5

243.1

125.9

Depreciation and Amortization

109.0

107.0

105.0

Earnings from equity investments included in operating profit

(2.0)

5.0

(2.0)

Gain from consolidation of HS&TC

5.0

Less amounts reported in discontinued operations [Member]

Segment Reporting Information [Line Items]

Revenue

(0.4)

^[2]

(8.8)

^[2]

(23.1)

^[2]

(15.2)

^[2]

(44.3)

^[2]

(3.3)

^[2]

(20.7)

^[2]

(58.4)

^[2]

(47.5)

^[3]

(126.7)

^[3]

(136.6)

^[3]

Operating Profit

(23.8)

^[4]

(54.5)

^[4]

(59.2)

^[4]

Reconciling Items [Member]

Segment Reporting Information [Line Items]

Revenue

(4.4)

^[5]

(4.3)

^[5]

(6.9)

^[5]

(6.5)

^[5]

(15.8)

^[5]

(2.7)

^[5]

(3.6)

^[5]

(4.2)

^[5]

(22.1)

^[5]

(26.3)

^[5]

(16.3)

^[5]

Other [Member]

Segment Reporting Information [Line Items]

Assets

4.8

14.8

4.8

14.8

12.2

Capital Expenditures

0.3

Depreciation and Amortization

1.1

1.9

3.1

Transportation Industry [Member]

Segment Reporting Information [Line Items]

Number of operating segments

Equity method investment, ownership percentage (in hundredths)

35.00%

Transportation Industry [Member] | Ocean transportation segment [Member]

Segment Reporting Information [Line Items]

Revenue

282.6

281.8

274.8

238.4

268.0

261.8

257.2

229.5

1,077.0

1,016.0

888.6

Operating Profit

74.1

^[4]

118.7

^[4]

58.3

^[4]

Interest expense, net

7.7

8.2

9.0

Assets

1,082.6

1,095.5

1,082.6

1,095.5

1,095.2

Capital Expenditures

44.2

69.4

12.7

Depreciation and Amortization

70.6

69.0

67.1

Earnings from equity investments included in operating profit

8.6

12.8

6.2

Start-up losses from China string

19.3

Equity method investments

56.5

52.9

56.5

52.9

47.2

Transportation Industry [Member] | Logistics services segment [Member]

Segment Reporting Information [Line Items]

Revenue

92.8

99.2

103.1

91.3

97.5

92.4

88.6

77.1

386.4

355.6

320.9

Operating Profit

5.0

7.2

6.7

Assets

76.8

73.8

76.8

73.8

72.4

Capital Expenditures

3.0

1.8

0.6

Depreciation and Amortization

3.2

3.5

Real Estate Industry [Member]

Segment Reporting Information [Line Items]

Number of operating segments

Earnings from equity investments included in operating profit

7.9

3.1

Real Estate Industry [Member] | Leasing segment [Member]

Segment Reporting Information [Line Items]

Revenue

24.4

24.5

25.2

26.0

23.2

24.4

23.2

23.6

100.1

94.4

103.2

Operating Profit

39.3

35.3

43.2

Assets

770.9

739.4

770.9

739.4

627.4

Capital Expenditures

43.6

^[6]

164.7

^[6]

108.8

^[6]

Depreciation and Amortization

21.6

^[7]

20.3

^[7]

19.5

^[7]

Real Estate Industry [Member] | Sales segment [Member]

Segment Reporting Information [Line Items]

Revenue

2.8

9.3

30.7

23.4

49.5

4.3

22.0

60.3

66.2

136.1

125.6

Operating Profit

15.5

^[4]

50.1

^[4]

39.1

^[4]

Assets

451.4

^[8]

420.8

^[8]

451.4

^[8]

420.8

^[8]

415.6

^[8]

Capital Expenditures

5.2

^[7]

0.1

^[7]

0.1

^[7]

Depreciation and Amortization

0.2

0.3

Equity method investments

290.1

274.8

290.1

274.8

193.3

Expenditures for real estate inventory

Agribusiness Industry [Member]

Segment Reporting Information [Line Items]

Number of operating segments

Revenue

62.4

38.5

44.7

16.1

59.5

^[9]

60.4

^[9]

29.8

^[9]

14.2

^[9]

161.7

^[10]

163.9

^[10]

107.0

^[10]

Operating Profit

22.2

^[10]

6.1

^[10]

(27.8)

^[10]

Assets

157.8

150.3

157.8

150.3

156.8

Capital Expenditures

10.5

6.8

3.4

Depreciation and Amortization

11.9

12.7

11.9

Gain from crop disaster relief payment

4.9

Gain from consolidation of HS&TC

$ 5.4

[1]	Includes Ocean Transportation interest expense of $7.7 million for 2011, $8.2 million for 2010, and $9.0 million for 2009. Substantially all other interest expense was at the parent company.
[2]	See Note 2 for discussion of discontinued operations.
[3]	Prior year amounts restated for amounts treated as discontinued operations.
[4]	The Ocean Transportation segment includes approximately $8.6 million, $12.8 million, and $6.2 million of equity in earnings from its investment in SSAT for 2011, 2010, and 2009, respectively. The Real Estate Sales segment includes approximately $8 million equity in loss and $2.0 million in equity from its various real estate joint ventures for 2011 and 2010, respectively. Equity in earnings from joint ventures in 2009 was negligible.
[5]	Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.
[6]	Represents gross capital additions to the leasing portfolio, including gross tax-deferred property purchases that are reflected as non-cash transactions in the Consolidated Statements of Cash Flows.
[7]	Excludes expenditures for real estate developments held for sale which are classified as Cash Flows from Operating Activities within the Consolidated Statements of Cash Flows. Operating cash flows for expenditures related to real estate developments were $18 million, $22 million, and $6 million for 2011, 2010, and 2009, respectively.
[8]	The Ocean Transportation segment includes approximately $56.5 million, $52.9 million, and $47.2 million related to its investment in SSAT as of December 31, 2011, 2010, and 2009, respectively. The Real Estate Sales segment includes approximately $290.1 million, $274.8 million, and $193.3 million related to its investment in various real estate joint ventures as of December 31, 2011, 2010, and 2009, respectively.
[9]	Includes a $4.9 million gain in the fourth quarter of 2010 related to a crop disaster relief payment for drought experienced in prior years.
[10]	Includes a $4.9 million gain in 2010 related to a crop disaster relief payment for drought experienced in prior years and a $5.4 million gain recorded upon consolidation of HS&TC in 2009.

QUARTERLY INFORMATION (Unaudited) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Quarterly information [Abstract]

Total Revenue

$ 460.2

$ 440.2

$ 448.5

$ 373.5

$ 437.6

$ 437.3

$ 396.5

$ 342.1

$ 1,722.0

$ 1,614.0

$ 1,392.0

Total operating profit

17.8

40.1

49.5

24.9

42.6

55.2

46.2

18.9

114.0

126.0

34.0

Interest expense

(6.2)

(6.3)

(6.1)

(6.2)

(6.3)

(6.5)

(25.0)

(26.0)

(25.0)

General corporate expenses

(7.1)

(4.8)

(4.2)

(4.5)

(7.7)

(4.5)

(6.6)

(20.3)

(23.3)

(21.8)

Income From Continuing Operations Before Income Taxes

4.5

29.0

39.2

14.5

31.9

41.2

35.2

5.8

87.0

114.0

12.0

Income taxes

0.8

10.6

15.1

5.8

13.1

15.5

13.1

3.0

32.0

45.0

5.0

Income From Continuing Operations

3.7

18.4

24.1

8.7

18.8

25.7

22.1

2.8

55.0

69.0

7.0

Discontinued operations

(2.1)

^[1]

(9.7)

^[1]

(5.4)

^[1]

(3.5)

^[1]

1.4

6.8

14.5

(21.0)

23.0

37.0

Net Income

1.6

8.7

18.7

5.2

20.2

25.7

28.9

17.3

34.0

92.0

44.0

Earnings per share [Abstract]

Basic (in dollars per share)

$ 0.04

$ 0.21

$ 0.45

$ 0.13

$ 0.49

$ 0.62

$ 0.70

$ 0.42

$ 0.82

$ 2.23

$ 1.08

Diluted (in dollars per share)

$ 0.04

$ 0.21

$ 0.44

$ 0.12

$ 0.48

$ 0.62

$ 0.70

$ 0.42

$ 0.81

$ 2.22

$ 1.08

Less amounts reported in discontinued operations [Member]

Quarterly information [Abstract]

Total Revenue

(0.4)

^[1]

(8.8)

^[1]

(23.1)

^[1]

(15.2)

^[1]

(44.3)

^[1]

(3.3)

^[1]

(20.7)

^[1]

(58.4)

^[1]

(47.5)

^[2]

(126.7)

^[2]

(136.6)

^[2]

Total operating profit

(0.4)

^[1]

(7.0)

^[1]

(9.2)

^[1]

(7.2)

^[1]

(19.0)

^[1]

(2.1)

^[1]

(10.6)

^[1]

(22.8)

^[1]

Reconciling Items [Member]

Quarterly information [Abstract]

Total Revenue

(4.4)

^[3]

(4.3)

^[3]

(6.9)

^[3]

(6.5)

^[3]

(15.8)

^[3]

(2.7)

^[3]

(3.6)

^[3]

(4.2)

^[3]

(22.1)

^[3]

(26.3)

^[3]

(16.3)

^[3]

Transportation Industry [Member] | Ocean transportation segment [Member]

Quarterly information [Abstract]

Total Revenue

282.6

281.8

274.8

238.4

268.0

261.8

257.2

229.5

1,077.0

1,016.0

888.6

Total operating profit

13.0

28.6

27.1

5.4

28.8

42.5

37.0

10.4

Earnings per share [Abstract]

Start-up losses from China string

19.3

Transportation Industry [Member] | Logistics services segment [Member]

Quarterly information [Abstract]

Total Revenue

92.8

99.2

103.1

91.3

97.5

92.4

88.6

77.1

386.4

355.6

320.9

Total operating profit

(0.6)

2.0

2.1

1.5

2.0

1.8

1.5

1.9

Real Estate Industry [Member] | Leasing segment [Member]

Quarterly information [Abstract]

Total Revenue

24.4

24.5

25.2

26.0

23.2

24.4

23.2

23.6

100.1

94.4

103.2

Total operating profit

9.1

9.2

10.4

10.6

8.4

9.3

8.5

9.1

Real Estate Industry [Member] | Sales segment [Member]

Quarterly information [Abstract]

Total Revenue

2.8

9.3

30.7

23.4

49.5

4.3

22.0

60.3

66.2

136.1

125.6

Total operating profit

(10.6)

3.5

10.6

12.0

17.8

2.9

8.0

21.4

Agribusiness Industry [Member]

Quarterly information [Abstract]

Total Revenue

62.4

38.5

44.7

16.1

59.5

^[4]

60.4

^[4]

29.8

^[4]

14.2

^[4]

161.7

^[5]

163.9

^[5]

107.0

^[5]

Total operating profit

7.3

3.8

8.5

2.6

4.6

^[4]

0.8

^[4]

1.8

^[4]

(1.1)

^[4]

Earnings per share [Abstract]

Gain from crop disaster relief payment

$ 4.9

[1]	See Note 2 for discussion of discontinued operations.
[2]	Prior year amounts restated for amounts treated as discontinued operations.
[3]	Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.
[4]	Includes a $4.9 million gain in the fourth quarter of 2010 related to a crop disaster relief payment for drought experienced in prior years.
[5]	Includes a $4.9 million gain in 2010 related to a crop disaster relief payment for drought experienced in prior years and a $5.4 million gain recorded upon consolidation of HS&TC in 2009.

PARENT COMPANY CONDENSED FINANCIAL INFORMATION, Condensed Balance Sheets (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Current Assets:
Cash and cash equivalents	$ 22	$ 14	$ 16	$ 19
Accounts and other receivables, net	173	165
Inventories	40	35
Real estate held for sale	3	8
Prepaid expenses and other	32	33
Total current assets	275	264
Investments:
Subsidiaries consolidated, at equity	347	329
Property, at Cost	2,962	2,901
Less accumulated depreciation and amortization	1,328	1,250
Property - net	1,634	1,651
Other Assets	144	126
Total	2,544.0	2,495.0	2,379.0
Current Liabilities:
Accounts payable	156	137
Other	42	50
Total current liabilities	278	353
Long-term Debt	507	386
Other Long-term Liabilities	50	54
Deferred Income Taxes	418	431
Shareholders' Equity:
Capital stock	34	34
Additional capital	239	223
Accumulated other comprehensive loss	(92)	(82)	(81)
Retained earnings	953	972
Cost of treasury stock	(11)	(11)
Total shareholders' equity	1,123	1,136	1,085	1,072
Total	2,544	2,495
A&B (Parent Company) [Member]
Current Assets:
Cash and cash equivalents	1	0	1	0
Accounts and other receivables, net	3	5
Inventories	24	16
Real estate held for sale	0	3
Prepaid expenses and other	5	6
Total current assets	33	30
Investments:
Subsidiaries consolidated, at equity	1,313	1,299
Property, at Cost	518	501
Less accumulated depreciation and amortization	237	225
Property - net	281	276
Other Assets	16	17
Total	1,643.0	1,622.0
Current Liabilities:
Current portion of long-term debt	34	108
Accounts payable	6	8
Income taxes payable	22	2
Non-qualified benefit plans	1	1
Other	17	17
Total current liabilities	80	136
Long-term Debt	308	230
Employee Benefit Plans	41	27
Non-qualified Benefit Plans	8	10
Other Long-term Liabilities	19	11
Deferred Income Taxes	50	50
Due to Subsidiaries	14	22
Shareholders' Equity:
Capital stock	34	34
Additional capital	239	223
Accumulated other comprehensive loss	(92)	(82)
Retained earnings	953	972
Cost of treasury stock	(11)	(11)
Total shareholders' equity	1,123	1,136
Total	$ 1,643	$ 1,622

PARENT COMPANY CONDENSED FINANCIAL INFORMATION, Condensed Statements of Income (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Revenue:

Agribusiness

$ 155

$ 152

$ 97

Real estate leasing

Real estate sales

Costs and Expenses:

Cost of agribusiness goods and services

131

150

130

Cost of real estate sales and leasing

Selling, general and administrative

154

158

154

Income tax benefit (expense)

0.8

10.6

15.1

5.8

13.1

15.5

13.1

3.0

32.0

45.0

5.0

Loss from Continuing Operations

3.7

18.4

24.1

8.7

18.8

25.7

22.1

2.8

55.0

69.0

7.0

Income from discontinued operations, net of income taxes (Note 2)

(2.1)

^[1]

(9.7)

^[1]

(5.4)

^[1]

(3.5)

^[1]

1.4

6.8

14.5

(21.0)

23.0

37.0

Net Income

1.6

8.7

18.7

5.2

20.2

25.7

28.9

17.3

34.0

92.0

44.0

Total comprehensive income

^[2]

A&B (Parent Company) [Member]

Revenue:

Agribusiness

128

117

170

141

Costs and Expenses:

Cost of agribusiness goods and services

113

114

109

Cost of real estate sales and leasing

Selling, general and administrative

Interest and other

Income tax benefit (expense)

2.0

(12.0)

(22.0)

Total costs and expenses

173

153

133

Loss from Continuing Operations

(3.0)

(12.0)

(37.0)

Income from discontinued operations, net of income taxes (Note 2)

2.0

24.0

11.0

Income (loss) Before Equity in Income of Subsidiaries Consolidated

(1)

(26)

Equity in Income from Continuing Operations of Subsidiaries Consolidated

Equity in Income from Discontinued Operations of Subsidiaries Consolidated

(23)

(1)

Net Income

34.0

92.0

44.0

Other Comprehensive Income (Loss), net of income taxes

(10)

(1)

Total comprehensive income

$ 24

$ 91

$ 59

[1]	See Note 2 for discussion of discontinued operations.
[2]	Net of ($10) million and $5 million for 2011, ($10) million and $6 million for 2010, and $5 million each in 2009 for deferred taxes related to net gain/prior service cost and amortization of net loss/prior service cost, respectively.

PARENT COMPANY CONDENSED FINANCIAL INFORMATION, Condensed Statements of Cash Flows (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Condensed Statements of Cash Flows [Abstract]
Cash Flows from Operations (including dividends received from subsidiaries)	$ 86	$ 150	$ 115
Cash Flows from Investing Activities:
Capital expenditures	(67)	(95)	(31)
Purchase of investments	(28)	(102)	(48)
Net cash used in investing activities	(71)	(150)	(31)
Cash Flows from Financing Activities:
Proceeds from issuance of capital stock and other	10	7	(1)
Dividends paid	(53)	(52)	(52)
Net cash used in financing activities	(7)	(2)	(87)
Net increase (decrease) for the year	8	(2)	(3)
Balance, beginning of year	14	16	19
Balance, end of year	22	14	16
Other Cash Flow Information:
Income taxes paid, net of refunds	(25)	(46)	(38)
Other Non-cash Information:
Tax-deferred property sales	45	120	109
Tax-deferred property purchases	(39)	(148)	(95)
A&B (Parent Company) [Member]
Condensed Statements of Cash Flows [Abstract]
Cash Flows from Operations (including dividends received from subsidiaries)	96	37	90
Cash Flows from Investing Activities:
Capital expenditures	(10)	(14)	(6)
Purchase of investments	(58)	(67)	(96)
Proceeds from disposal of property and sale of investments	12	36	28
Net cash used in investing activities	(55)	(45)	(74)
Cash Flows from Financing Activities:
Change in intercompany payables/receivables	0	0	(13)
Proceeds from (repayments of) long-term debt, net	3	52	51
Proceeds from issuance of capital stock and other	10	7	(1)
Repurchases of capital stock	0	0	0
Dividends paid	(53)	(52)	(52)
Net cash used in financing activities	(40)	7	(15)
Net increase (decrease) for the year	(1)	(1)	1
Balance, beginning of year	0	1	0
Balance, end of year	1	0	1
Other Cash Flow Information:
Interest paid	(16)	(15)	(13)
Income taxes paid, net of refunds	(25)	(46)	(38)
Other Non-cash Information:
Depreciation expense	16	16	17
Tax-deferred property sales	16	65	29
Tax-deferred property purchases	$ (12)	$ (78)	$ (40)

PARENT COMPANY CONDENSED FINANCIAL INFORMATION, Debt and Dividends (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Long-term debt [Abstract]
Total debt	$ 559	$ 522
Long-term debt	507	386
Long-term Debt Maturities [Abstract]
Due in 2012	52
Due in 2013	45
Due in 2014	54
Due in 2015	45
Due in 2016	206
Due after 2016	157
Revolving credit facilities [Abstract]
Expiration date of facility	August 2016
Interest rate description	London Interbank Offered Rate “LIBOR” plus a margin based on a ratio of debt to earnings before interest, taxes, depreciation and amortization pricing grid
Covenant terms	maintenance of minimum shareholders' equity levels, minimum unencumbered property investment values, and a maximum ratio of debt to earnings before interest, depreciation, amortization and taxes
Total remaining capacity available for borrowing	283
Revolving Credit Loans [Member]
Long-term debt [Abstract]
Total debt	173	108
Effective interest rate (in hundredths)	1.29%	0.64%
Long-term Debt Maturities [Abstract]
Due in 2016	161
Revolving credit facilities [Abstract]
Number of commercial banks	7
Maximum borrowing capacity	355
Expiration date of facility	August 2016
Interest rate description	London Interbank Offered Rate “LIBOR” plus a margin based on a ratio of debt to earnings before interest, taxes, depreciation and amortization pricing grid
Covenant terms	maintenance of minimum shareholders' equity levels, minimum unencumbered property investment values, and a maximum ratio of debt to earnings before interest, depreciation, amortization and taxes
Outstanding letters of credit	19
Total remaining capacity available for borrowing	163
Term Loan 6.90% [Member]
Long-term debt [Abstract]
Total debt	100	100
Stated interest rate (in hundredths)	6.90%	6.90%
Term Loan 5.53% [Member]
Long-term debt [Abstract]
Total debt	42	50
Stated interest rate (in hundredths)	5.53%	5.53%
Term Loan 5.55% [Member]
Long-term debt [Abstract]
Total debt	50	50
Stated interest rate (in hundredths)	5.55%	5.55%
Term Loan 5.56% [Member]
Long-term debt [Abstract]
Total debt	25	25
Stated interest rate (in hundredths)	5.56%	5.56%
Term Loan 4.10% [Member]
Long-term debt [Abstract]
Total debt	4	12
Stated interest rate (in hundredths)	4.10%	4.10%
Term Loan 6.20% [Member]
Long-term debt [Abstract]
Total debt	10	11
Stated interest rate (in hundredths)	6.20%	6.20%
Description of collateral	secured by Deere Valley Center	secured by Deere Valley Center
Term Loan 5.50% [Member]
Long-term debt [Abstract]
Total debt	6	6
Stated interest rate (in hundredths)	5.50%	5.50%
Description of collateral	secured by Little Cottonwood Center	secured by Little Cottonwood Center
Prudential facility [Member]
Revolving credit facilities [Abstract]
Term of facility (in years)	3Y
Maximum borrowing capacity	400
Expiration date of facility	April 19, 2012
Interest rate description	borrowings under the shelf facility bear interest at rates that are determined at the time of the borrowing
Covenant terms	restrictive covenants that are substantially the same as the covenants contained in the revolving senior credit facilities
Total remaining capacity available for borrowing	120
A&B (Parent Company) [Member]
Long-term debt [Abstract]
Total debt	342	338
Less current portion	(34)	(108)
Long-term debt	308	230
Long-term Debt Maturities [Abstract]
Due in 2012	34
Due in 2013	26
Due in 2014	39
Due in 2015	33
Due in 2016	140
Due after 2016	70
A&B (Parent Company) [Member] \| Secured Debt [Member]
Secured term debt [Abstract]
Ownership percentage of Phoenix office building (in hundredths)	25.00%
Number of subsidiaries that own the property jointly and severally	3
A&B (Parent Company) [Member] \| Revolving Credit Loans [Member]
Long-term debt [Abstract]
Total debt	113	93
Effective interest rate (in hundredths)	1.24%	0.57%
Revolving credit facilities [Abstract]
Maximum borrowing capacity	230
Expiration date of facility	August 2016
Interest rate description	London Interbank Offered Rate “LIBOR” plus a margin based on a ratio of debt to earnings before interest, taxes, depreciation and amortization pricing grid
Covenant terms	maintenance of minimum shareholders' equity levels, minimum unencumbered property investment values, and a maximum ratio of total debt to earnings before interest, depreciation, amortization, and taxes
Outstanding letters of credit	11
Total remaining capacity available for borrowing	106
A&B (Parent Company) [Member] \| Term Loan 6.90% [Member]
Long-term debt [Abstract]
Total debt	100	100
Stated interest rate (in hundredths)	6.90%	6.90%
Maturity date	2020	2020
A&B (Parent Company) [Member] \| Term Loan 5.53% [Member]
Long-term debt [Abstract]
Total debt	42	50
Stated interest rate (in hundredths)	5.53%	5.53%
Maturity date	2016	2016
A&B (Parent Company) [Member] \| Term Loan 5.55% [Member]
Long-term debt [Abstract]
Total debt	50	50
Stated interest rate (in hundredths)	5.55%	5.55%
Maturity date	2017	2017
A&B (Parent Company) [Member] \| Term Loan 5.56% [Member]
Long-term debt [Abstract]
Total debt	25	25
Stated interest rate (in hundredths)	5.56%	5.56%
Maturity date	2016	2016
A&B (Parent Company) [Member] \| Term Loan 4.10% [Member]
Long-term debt [Abstract]
Total debt	4	12
Stated interest rate (in hundredths)	4.10%	4.10%
Maturity date	2012	2012
A&B (Parent Company) [Member] \| Term Loan 6.20% [Member]
Long-term debt [Abstract]
Total debt	2	2
Stated interest rate (in hundredths)	6.20%	6.20%
Maturity date	2013	2013
Description of collateral	secured by Deere Valley Center	secured by Deere Valley Center
A&B (Parent Company) [Member] \| Term Loan 5.50% [Member]
Long-term debt [Abstract]
Total debt	6	6
Stated interest rate (in hundredths)	5.50%	5.50%
Maturity date	2014	2014
Description of collateral	secured by Little Cottonwood Center	secured by Little Cottonwood Center
A&B (Parent Company) [Member] \| Prudential facility [Member]
Revolving credit facilities [Abstract]
Term of facility (in years)	3Y
Maximum borrowing capacity	400
Expiration date of facility	April 19, 2012
Interest rate description	borrowings under the shelf facility bear interest at rates that are determined at the time of the borrowing
Total remaining capacity available for borrowing	120
Matson (Subsidiary) [Member]
Dividends from Subsidiaries [Abstract]
Cash dividends received	60	45	60
Matson (Subsidiary) [Member] \| Revolving Credit Loans [Member]
Revolving credit facilities [Abstract]
Maximum borrowing capacity	$ 125

SUBSEQUENT EVENT (Details) (Holding Company Merger [Member])	Feb. 13, 2012
Holding Company Merger [Member]
Subsequent Event [Line Items]
Maximum permitted percentage of common stock of the holding company that may be owned (in hundredths)	22.00%