Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2012	Feb. 26, 2013	Jun. 30, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	Matson, Inc.
Entity Central Index Key	0000003453
Document Type	10-K
Document Period End Date	Dec. 31, 2012
Amendment Flag	false
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			$ 1,170,057,488
Entity Common Stock, Shares Outstanding		42,672,456
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating Revenue:
Ocean transportation	$ 1,189.8	$ 1,076.2	$ 1,015.0
Logistics	370.2	386.4	355.6
Total operating revenue	1,560.0	1,462.6	1,370.6
Costs and Expenses:
Operating costs	1,338.1	1,280.1	1,144.7
Equity in income of terminal joint venture	(3.2)	(8.6)	(12.8)
Selling, general and administrative	119.8	112.5	113.3
Separation costs	8.6
Operating costs and expenses	1,463.3	1,384.0	1,245.2
Operating Income	96.7	78.6	125.4
Interest expense	(11.7)	(7.7)	(8.2)
Income from Continuing Operations Before Income Taxes	85.0	70.9	117.2
Income tax expense	33.0	25.1	46.7
Income From Continuing Operations	52.0	45.8	70.5
Income (Loss) From Discontinued Operations (net of income taxes)	(6.1)	(11.6)	21.6
Net Income	45.9	34.2	92.1
Other Comprehensive Income, Net of Tax:
Net Income	45.9	34.2	92.1
Defined benefit pension plans:
Net loss and prior service cost	(4.6)	(5.7)	(7.0)
Amortization of prior service cost included in net periodic pension cost	(1.4)	0.3	0.2
Amortization of net loss included in net periodic pension cost	4.8	3.9	2.1
Other Comprehensive income from Discontinued Operations	0.7	(8.4)	3.7
Other Comprehensive Income	(0.5)	(9.9)	(1.0)
Comprehensive Income	$ 45.4	$ 24.3	$ 91.1
Basic Earnings (Loss) Per Share:
Continuing operations (in dollars per share)	$ 1.23	$ 1.10	$ 1.71
Discontinued operations (in dollars per share)	$ (0.14)	$ (0.28)	$ 0.52
Net income (in dollars per share)	$ 1.09	$ 0.82	$ 2.23
Diluted Earnings (Loss) Per Share:
Continuing operations (in dollars per share)	$ 1.22	$ 1.09	$ 1.70
Discontinued operations (in dollars per share)	$ (0.14)	$ (0.28)	$ 0.52
Net income (in dollars per share)	$ 1.08	$ 0.81	$ 2.22
Weighted Average Number of Shares Outstanding:
Basic (in shares)	42.3	41.6	41.2
Diluted (in shares)	42.7	42.0	41.5
Cash Dividends Per Share (in dollars per share)	$ 0.93	$ 1.26	$ 1.26

CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Current Assets:
Cash and cash equivalents	$ 19.9	$ 9.8
Accounts and notes receivable, net	174.7	167.7
Inventories	4.3	4.2
Deferred income taxes	6.6	1.3
Prepaid expenses and other assets	28.6	25.1
Current assets related to discontinued operations		66.9
Total current assets	234.1	275.0
Investment in terminal joint venture	59.6	56.5
Property, at cost	1,770.8	1,760.7
Less accumulated depreciation and amortization	(1,008.3)	(960.2)
Property - net	762.5	800.5
Other Assets	118.1	95.2
Long term assets related to discontinued operations		1,317.1
Total	1,174.3	2,544.3
Current Liabilities:
Notes payable and current portion of long-term debt	16.4	17.5
Accounts payable	125.8	135.5
Payroll and vacation benefits	16.0	16.0
Uninsured claims	11.2	6.5
Due to affiliate		2.2
Accrued and other liabilities	24.0	8.8
Current liabilities related to discontinued operations		92.2
Total current liabilities	193.4	278.7
Long-term Liabilities:
Long-term debt	302.7	180.1
Deferred income taxes	251.9	255.1
Employee benefit plans	108.0	113.0
Due to affiliate		0.5
Uninsured claims and other liabilities	38.4	24.3
Long-term liabilities related to discontinued operations		570.1
Total long-term liabilities	701.0	1,143.1
Commitments and Contingencies (Note 3)
Shareholders' Equity:
Capital stock - common stock without par value; authorized, 150 million shares ($0.75 stated value per share); outstanding, 42.6 million shares in 2012 and 41.7 million shares in 2011	31.9	34.0
Additional paid in capital	252.7	238.3
Accumulated other comprehensive loss	(45.5)	(91.9)
Retained earnings	40.8	953.0
Cost of treasury stock		(10.9)
Total shareholders' equity	279.9	1,122.5
Total	$ 1,174.3	$ 2,544.3

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Millions, except Per Share data, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
CONSOLIDATED BALANCE SHEETS
Capital stock, shares authorized	150	150
Capital stock, stated value (in dollars per share)	$ 0.75	$ 0.75
Capital stock, shares outstanding	42.6	41.7

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash Flows Provided by Operating Activities from Continuing Operations
Net income from continuing operations	$ 52.0	$ 45.8	$ 70.5
Reconciling adjustments:
Depreciation and amortization	72.5	71.6	70.8
Deferred income taxes	(8.8)	(5.0)	3.4
(Gain)/loss on disposal of property	(1.2)	(0.8)	0.3
Post-retirement expense	2.6	4.5	1.4
Share-based compensation expense	4.0	2.7	2.6
Equity in income of terminal joint venture	(3.2)	(8.6)	(12.8)
Dividend from terminal joint venture		5.3	7.0
Impairment on long-lived intangible assets	2.1
Changes in assets and liabilities:
Accounts receivable	(7.0)	(10.8)	5.2
Deferred dry-docking payments	(44.8)	(36.0)	(5.9)
Deferred dry-docking amortization	23.3	22.7	19.6
Prepaid expenses and other assets	(10.4)	(3.4)	(1.1)
Accounts payable and accrued liabilities	(7.9)	17.1	0.5
Other liabilities	20.8	(1.0)	(1.1)
Net cash provided by operating activities from continuing operations	94.0	104.1	160.4
Cash Flows Used in Investing Activities from Continuing Operations:
Capital expenditures	(38.1)	(47.2)	(71.2)
Proceeds from disposal of property and other assets	6.8	2.3	1.1
Deposits into Capital Construction Fund	(4.4)	(4.4)	(4.4)
Withdrawals from Capital Construction Fund	4.4	4.4	4.4
Acquisitions and other			(1.0)
Contribution from the Former Parent Company	25.0	40.3	43.0
Net cash used in investing activities from continuing operations	(6.3)	(4.6)	(28.1)
Cash Flows Used in Financing Activities from Continuing Operations:
Proceeds from issuance of long-term debt	197.0	109.0	58.0
Payments of long-term debt	(80.4)	(69.5)	(84.2)
Proceeds (payments) on line-of-credit agreements, net	5.0	(6.2)	17.8
Payment of financing costs	(1.9)	(0.5)
Contribution upon Separation to A&B	(155.7)
Proceeds from issuance of capital stock	25.2	10.1	6.6
Distribution to Former Parent Company for proceeds from issuance of capital stock	(21.7)
Cash assumed by A&B upon Separation	(2.5)
Payments of note to Former Parent Company			(20.0)
Distribution paid to Former Parent Company		(60.0)	(45.0)
Dividends paid	(39.5)	(53.1)	(52.2)
Net cash used in financing activities from continuing operations	(74.5)	(70.2)	(119.0)
Cash Flows from Discontinued Operations:
Cash flows used in operating activities of discontinued operations	(29.9)	(17.8)	(10.2)
Cash flows used in investing activities of discontinued operations	(18.8)	(26.1)	(58.8)
Cash flows provided by financing activities of discontinued operations	33.9	21.9	53.7
Net cash flows used in discontinued operations	(14.8)	(22.0)	(15.3)
Net (Decrease) Increase in Cash and Cash Equivalents	(1.6)	7.3	(2.0)
Cash and cash equivalents, beginning of the year	21.5	14.2	16.2
Cash and cash equivalents, end of the year	19.9	21.5	14.2
Other Cash Flow Information:
Interest paid	11.3	7.8	8.3
Income taxes paid	42.7	0.6	42.1
Other Non-cash Information:
Capital expenditures included in accounts payable and accrued liabilities	$ 4.2	$ 4.2	$ 2.1

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $) In Millions, unless otherwise specified	Total	Common Stock	Treasury	Additional Paid In Capital	Accumulated Other Comprehensive Income	Retained Earnings
Balance at Dec. 31, 2009	$ 1,085.1	$ 33.0	$ (10.9)	$ 210.0	$ (81.0)	$ 934.0
Balance (in shares) at Dec. 31, 2009		44.6	(3.6)
Increase (Decrease) in Stockholders' Equity
Net Income	92.1					92.1
Other comprehensive income, net of tax	(1.0)				(1.0)
Excess tax benefit and share withholding	(2.7)			(0.7)		(2.0)
Share-based compensation	7.5			7.5
Shares issued	7.4	1.0		6.4
Shares issued (in shares)		0.3
Dividends	(52.2)					(52.2)
Balance at Dec. 31, 2010	1,136.2	34.0	(10.9)	223.2	(82.0)	971.9
Balance (in shares) at Dec. 31, 2010		44.9	(3.6)
Increase (Decrease) in Stockholders' Equity
Net Income	34.2					34.2
Other comprehensive income, net of tax	(9.9)				(9.9)
Share-based compensation	7.5			7.5
Shares issued	7.6			7.6
Shares issued (in shares)		0.4
Dividends	(53.1)					(53.1)
Balance at Dec. 31, 2011	1,122.5	34.0	(10.9)	238.3	(91.9)	953.0
Balance (in shares) at Dec. 31, 2011	41.7	45.3	(3.6)
Increase (Decrease) in Stockholders' Equity
Net Income	45.9					45.9
Other comprehensive income, net of tax	(0.5)				(0.5)
Excess tax benefit and share withholding	(2.0)	(0.1)		0.5		(2.4)
Excess tax benefit and share withholding (in shares)		(0.1)
Share-based compensation	6.5			6.5
Shares issued	23.1	0.7		22.4
Shares issued (in shares)		1.0
Retirement of treasury shares		(2.7)	10.9	(8.2)
Retirement of treasury shares (in shares)		(3.6)	3.6
Dividends	(39.5)					(39.5)
Distribution of A&B Stock	(876.1)			(6.8)	46.9	(916.2)
Balance at Dec. 31, 2012	$ 279.9	$ 31.9		$ 252.7	$ (45.5)	$ 40.8
Balance (in shares) at Dec. 31, 2012	42.6	42.6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of the Business “Matson” or the “Company” means Matson, Inc., a holding company incorporated in January 2012 in the State of Hawaii, together with its primary operating company, Matson Navigation Company, Inc. (“MatNav”), and all of its subsidiaries. MatNav is a wholly-owned subsidiary of Matson, Inc.

Founded in 1882, Matson is a leading U.S. ocean freight carrier in the Pacific. Matson provides a vital lifeline to the island economies of Hawaii, Guam and Micronesia, and operates a premium, expedited service from China to Southern California. The Company’s fleet of 17 vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. Matson Logistics, Inc. (“Matson Logistics” or “Logistics”), a wholly-owned subsidiary of MatNav, was established in 1987 and extends the geographic reach of Matson’s transportation network throughout the continental U.S. and China. Matson Logistics’ integrated, asset-light logistics services include rail intermodal, highway brokerage and warehousing.

Also, the Company has a 35 percent ownership interest in SSA Terminals, LLC (“SSAT”) through a joint venture between Matson Ventures, Inc., a wholly-owned subsidiary of MatNav, and SSA Ventures, Inc. (“SSA”), a subsidiary of Carrix, Inc. SSAT provides terminal and stevedoring services to various international carriers at six terminal facilities on the U.S. Pacific Coast and to MatNav at several of those facilities. Matson records its share of income in the joint venture in operating expenses within the ocean transportation segment, due to the operations of the joint venture being an integral part of the Company’s business.

Logistics: The logistics segment of Matson’s business, which is conducted through Matson Logistics, is an asset-light 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 services, expedited freight services, and warehousing and distribution services (collectively “Highway”). Warehousing, packaging and distribution services are provided by Matson Logistics Warehousing, Inc. (“Matson Logistics Warehousing”), a wholly-owned subsidiary of Matson Logistics.

Separation Transaction:On December 1, 2011, Alexander & Baldwin, Inc., the former parent company of MatNav (the “Former Parent Company”), announced that its Board of Directors unanimously approved a plan to pursue the separation (the “Separation”) of the Former Parent Company to create two independent, publicly traded companies:

· Matson, a Hawaii-based ocean transportation company serving the U.S. Pacific Coast, Hawaii, Guam, Micronesia and China, and a logistics company; and

· Alexander & Baldwin, Inc. (“A&B”), a Hawaii-based land company with interests in real estate development, commercial real estate and agriculture.

On February 13, 2012, the Former Parent Company entered into an Agreement and Plan of Merger to reorganize itself by forming a holding company incorporated in Hawaii, Alexander & Baldwin Holdings, Inc. (“Holdings”). The holding company structure helped facilitate the Separation through the organization and segregation of the assets of the two businesses. In addition, the holding company reorganization was intended to 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, amongst other things, limiting the percentage of outstanding shares of common stock in the holding company that may be owned or controlled in the aggregate by non-U.S. citizens to a maximum permitted percentage of 22%.

The Separation was completed on June 29, 2012. In the Separation, the shareholders of Holdings received one share of common stock of A&B for every share of Holdings held of record as of June 18, 2012. Immediately following the Separation, Alexander & Baldwin Holdings, Inc. changed its name to Matson, Inc. For accounting purposes, Matson is the successor company to the Former Parent Company.

Prior to the completion of the Separation, the Company and A&B entered into a Separation and Distribution Agreement, Tax Sharing Agreement and an Employee Matters Agreement, each dated June 8, 2012, that govern the post-Separation relationship. In addition, the Company and A&B entered into a Transition Services Agreement, dated June 8, 2012, under which each company agreed to provide the other with various services on an interim, transitional basis, for up to 24 months.

Also in relation to the Separation, intercompany receivables, payables, loans and other accounts between A&B and Matson, in existence immediately prior to the Separation, were satisfied and/or settled; and intercompany agreements and all other arrangements in effect immediately prior to the distribution were terminated or canceled, subject to certain exceptions.

Matson incurred total cash outflows of $166.2 million in relation to the Separation. The total cash outflows were made up of three components: capital contribution, capitalized debt financing costs and Separation related expenses referred to as Separation costs in the Consolidated Statements of Income and Comprehensive Income. The Separation related expenses of $8.6 million and capitalized debt financing costs of $1.9 million are reported under the cash flows provided by operating activities from continuing operations and cash flows used in financing activities from continuing operations, respectively, since these costs do not qualify as discontinued operations.

The breakdown of Separation cash outflows were as follows (in millions):

	Separation Cash Outflows
Capital contribution to A&B	$	155.7
Separation costs	8.6
Capitalized debt financing costs	1.9
Total cash outflow related to the Separation	$	166.2

Principles of Consolidation: The consolidated financial statements include the accounts of Matson, Inc. and all wholly-owned 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 period end for Matson, Inc. is December 31. The period end for MatNav occurred on the last Friday in December, except for Matson Logistics Warehousing whose period closed on December 31. There were 52 weeks included in the MatNav 2012 and 2011 fiscal years and 53 weeks in 2010.

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) self-insured liabilities, (v) goodwill and intangible assets impairment, (vi) pension and postretirement estimates, and (vii) 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 original 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 $19.6 million and $10.7 million at December 31, 2012 and 2011, respectively, and are reflected as current liabilities in the consolidated balance sheets.

Fair Value of Financial Instruments: The Company values its financial instruments based on the fair value hierarchy of valuation techniques described in the FASB’s accounting standard for fair value measurements. Level 1 inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 inputs include quoted prices for similar assets and liabilities in active markets and inputs other than quoted prices observable for the asset or liability. Level 3 inputs are unobservable inputs for the asset or liability. The Company uses Level 1 inputs for the fair values of its cash equivalents. The Company uses Level 2 inputs for its long term debt. These inputs include interest rates for similar 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 fair value the Company’s debt is calculated based upon interest rates available for debt with terms and maturities similar to the Company’s existing debt arrangements.

	Carrying Value at		Fair Value Measurements at
	December 31, 2012		December 31, 2012
(in millions)	Total		Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash & cash equivalents	$	19.9	$	19.9	$	19.9	$	—	$	—
Accounts and notes receivable	174.7		174.7		—		174.7		—
Variable rate debt	24.0		24.0		—		24.0		—
Fixed rate debt	295.1		316.8		—		316.8		—

	Carrying Value at		Fair Value Measurements a
	December 31, 2011		December 31, 2011
(in millions)	Total		Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash & cash equivalents	$	9.8	$	9.8	$	9.8	$	—	$	—
Accounts and notes receivable	167.7		167.7		—		167.7		—
Variable rate debt	61.0		61.0		—		61.0		—
Fixed rate debt	136.5		148.1		—		148.1		—

Allowance for Doubtful Accounts: Allowances for doubtful accounts are established by management based on estimates of collectability. 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, 2012 were as follows (in millions):

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

2012	$	5.3	$	0.7	$	(1.3	)	$	4.7
2011	$	6.1	$	—	$	(0.8	)	$	5.3
2010	$	8.1	$	—	$	(2.0	)	$	6.1

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 and comprehensive income. Changes in deferred dry-docking costs are included in the consolidated statements of cash flows in cash flows from operating activities.

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
Machinery and equipment		2 to 20
Terminal facilities		3 to 35

During the fourth quarter of 2012, Matson extended the useful life of certain of its vessels based on extensive modifications and improvements that extended the useful lives of these vessels. The increase in the useful life of the vessels resulted in a reduction in depreciation expense of $1.1 million.

Impairment of Long-Lived Assets and Finite-Lived Intangible Assets: Long-lived assets, including finite-lived intangible assets, are reviewed for possible impairment annually and whenever 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. During 2012 the Company determined that it had an impairment related to intangible assets at Matson Logistics. The Company recorded impairment expense of $2.1 million for 2012, which is included in operating expense on the Consolidated Statement of Income and Comprehensive Income. No impairment charges were recorded in 2011 and 2010. 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 Investment: The Company’s investments in a terminal joint venture is reviewed for impairment annually and 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 joint venture, 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 terminal joint venture, 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. The Company has not recorded any impairment related to its investment in the terminal joint venture for the years ended December 31, 2012, 2011, and 2010.

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 annually and whenever 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. The Company has not recorded any impairment related to its vessels for the years ended December 31, 2012, 2011, and 2010.

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 earn out obligations. Recorded intangible assets are related to Logistics entity acquisitions. 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 2012, 2011, or 2010.

The changes in the carrying amount of goodwill for the years ended December 31, 2012 and 2011 were as follows (in millions):

	Goodwill

Balance, December 31, 2010	$	27.0
Additions	—
Balance, December 31, 2011	27.0
Additions	—
Balance, December 31, 2012	$	27.0

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

	2012								2011
	Gross								Gross
	Carrying		Impairment			Accumulated			Carrying		Accumulated
	Amount		Charges			Amortization			Amount		Amortization
Amortized intangible assets:
Customer lists	$	11.8	$	(2.1	)	$	(6.2	)	$	11.8	$	(5.6	)
Other	3.8		—			(3.4		)	3.8		(3.3		)
Total assets	$	15.6	$	(2.1	)	$	(9.6	)	$	15.6	$	(8.9	)

Aggregate intangible asset amortization was $0.7 million, $0.9 million, and $1.3 million for 2012, 2011, and 2010, respectively. Estimated amortization expenses related to intangibles over the next five years are as follows (in millions):

	Estimated Amortization

2013	$		0.7
2014	0.7
2015	0.7
2016	0.7
2017	0.7
Thereafter	0.4
Total	$	3.9

Recognition of revenues and expenses: Voyage revenue is recognized ratably over the duration of a voyage based on the relative transit time in each reporting period. Voyage expenses are recognized as incurred. Hawaii, Guam, and certain Pacific island service freight rates are provided in tariffs filed with the Surface Transportation Board of the U.S. Department of Transportation; for other Pacific island services, the rates are filed with the Federal Maritime Commission. The China service rates are predominately established by individual contracts with customers.

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.

The primary sources of revenue for warehousing services are storage, handling, and value-added packaging. For customer dedicated warehouses, storage revenue is recognized as earned over the life of the contract. Storage revenue generated by the public warehouses is recognized in the month the service is provided according to the terms of the contract. Handling and value-added packaging revenue and expense are recognized in proportion to the services completed.

Non-voyage costs: Charter hire, terminal operating overhead, and general and administrative expenses are charged to expense as incurred.

Discontinued Operations: The termination of certain business lines 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. As a result the operations for the Company’s second China Long Beach Express Service (“CLX2”) and A&B have been restated to be shown 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 10.

Basic and Diluted Earnings per Share (“EPS”) of Common Stock: Basic earnings per share are 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 0.5 million, 1.4 million, and 1.6 million shares of common stock for 2012, 2011, and 2010, 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):

	Year Ended December 31, 2012							Year Ended December 31, 2011							Year Ended December 31, 2010
				Weighted	Per						Weighted	Per					Weighted	Per
				Average	Common						Average	Common					Average	Common
	Net			Common	Share			Net			Common	Share			Net		Common	Share
	Income			Shares	Amount			Income			Shares	Amount			Income		Shares	Amount
Basic:
Income from continuing operations	$	52.0		42.3	$	1.23		$	45.8		41.6	$	1.10		$	70.5	41.2	$	1.71
(Loss) income from discontinued operations	(6.1		)	42.3	(0.14		)	(11.6		)	41.6	(0.28		)	21.6		41.2	0.52
	45.9				$	1.09		34.2				$	0.82		92.1			$	2.23

Effect of Dilutive Securities				0.4							0.4						0.3

Diluted:
Income from continuing operations	52.0			42.7	1.22			45.8			42.0	1.09			70.5		41.5	1.70
(Loss) income from discontinued operations	(6.1		)	42.7	(0.14		)	(11.6		)	42.0	(0.28		)	21.6		41.5	0.52
	$	45.9			$	1.08		$	34.2			$	0.81		$	92.1		$	2.22

Income Taxes: Deferred income taxes are provided for the tax effect of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. 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 and Comprehensive Income and/or Consolidated Balance Sheets. Prior to the Separation, the Company joined in filing consolidated federal and consolidated or combined state income tax returns with the Former Parent Company. However, the Company’s tax provision had been computed as if it had filed separate, stand-alone federal and state income tax returns.

In connection with the Separation, Matson incurred certain financial advisory, legal, tax and other professional fees, a portion of which is not deductible under the tax regulations. Accordingly, the Company’s income taxes for 2012, were increased by approximately $1.7 million, related to the non-deductibility of certain Separation costs.

Also in connection with the Separation, Matson entered into a Tax Sharing Agreement with A&B that governs the respective rights, responsibilities and obligations of the companies after the Separation with respect to tax liabilities and benefits, tax attributes, tax contests and other tax sharing regarding U.S. federal, state, local and foreign income taxes, other tax matters and related tax returns. A&B has liability to Matson with respect to Matson’s consolidated or combined U.S. federal, state, local and foreign income tax liability for the taxes that are attributed to A&B’s businesses and relative contribution to state and other taxable income of the Matson consolidated or combined group relating to the taxable periods in which A&B was a part of that group. The Tax Sharing Agreement specifies the portion, if any, of this tax liability for which Matson and A&B will bear responsibility, and Matson and A&B agreed to indemnify each other against any amounts for which they are not responsible. Under the Tax Sharing Agreement, Matson also generally will be responsible for any taxes that arise from the failure of the Separation, together with certain related transactions, to qualify as tax-free for U.S. federal income tax purposes within the meaning of Sections 355 and 368 of the Internal Revenue Code of 1986 (the “Code”), as amended, to the extent such failure to qualify is attributable to actions, events or transactions relating to Matson’s stock, assets or business, or a breach of the relevant representations or covenants made by Matson in the Tax Sharing Agreement, the materials submitted to the Internal Revenue Service in connection with the ruling request relating to the Separation or the representation letter provided to counsel in connection with such counsel’s issuance of a tax opinion relating to certain aspects of the Separation. In addition, each of Matson and A&B generally will be responsible for a portion of any taxes that arise from the failure of the Separation, together with certain related transactions, to qualify as tax-free for U.S. federal income tax purposes within the meaning of Sections 355 and 368 of the Code, if such failure is for any reason for which neither Matson nor A&B is responsible. The Tax Sharing Agreement also imposes restrictions on the respective abilities of Matson and A&B to engage in certain actions following the Separation.

Significant judgment is required in determining the Company’s tax liabilities in the multiple jurisdictions in which the Company operates and in dealing with uncertainties in the application of complex tax regulations. Significant judgment is also involved in estimating the impact of uncertain tax positions taken or expected to be taken with respect to the application of complex tax laws. Resolution of these uncertainties in a manner inconsistent with management’s expectations could materially affect the Company’s financial condition and/or its future operating results.

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.

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.

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.

Self-Insured Liabilities: The Company is self-insured for certain losses that include, but are not limited to, employee health, certain workers’ compensation, general liability, and real and personal property 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 adopted the revised standard effective January 1, 2012. The standard changed the presentation of the Company’s financial statements but did 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. The adoption of this standard on January 1, 2012, 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, 2012

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

2. DISCONTINUED OPERATIONS

As required by the Financial Accounting Standards Board (“FASB”) ASC Subtopic 205-20, Discontinued Operations, the termination of certain income-producing assets are classified as discontinued operations if (i) the operations and cash flows of the component have been, or will be, eliminated from the ongoing operations of the Company as a result of the disposal transaction, and (ii) the Company will not have any significant continuing involvement in the operations of the component after the disposal transaction. Discontinued operations include the results for the business lines that were terminated through December 31, 2012. Operating results included in the Consolidated Statements of Income and Comprehensive Income and the segment results (Note 13) for the years ended December 31, 2011 and 2010, have been restated to reflect the termination of segments that were classified as discontinued operations.

The Separation was completed on June 29, 2012. In the Separation, the shareholders of Holdings received one share of common stock of A&B for every share of Holdings held of record as of June 18, 2012. Immediately following the Separation, Alexander & Baldwin Holdings, Inc. changed its name to Matson, Inc. Refer to Note 1 for further description of the Separation Transaction.

In the third quarter of 2011, the Company terminated its CLX2, 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 the 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 continued through 2012 and two of the five ships were offered for sub-charter until they were 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 contracts. As of December 31, 2011, the Company had a liability of approximately $4.9 million included in current liabilities related to discontinued operations, representing the fair value of the obligations arising from exit activities associated with the termination of the service. The liability, which was principally related to future charter lease payments, was substantially settled by July 31, 2012. As of December 31, 2012, the Company had no future liability. The Company does not expect to incur any additional material losses from the discontinued operations of CLX2.

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

	Containers and Charter Liabilities			Other Contractual Liabilities			Total

Balance at December 31, 2010	$	—		$	—		$	—
Expenses incurred	11.8			0.7			12.5
Amounts paid	(7.0		)	(0.6		)	(7.6		)
Balance at December 31, 2011	$	4.8		$	0.1		$	4.9
Expenses incurred	4.5			—			4.5
Amounts paid	(9.3		)	(0.1		)	(9.4		)
Balance at December 31, 2012	$	—		$	—		$	—

Income (losses) from discontinued operations consisted of the following (in millions):

	Year Ended December 31,
	2012			2011			2010
Discontinued operations, net of tax:
Income from A&B	$	116.4		$	274.7		$	276.3
Expenses from A&B	(118.1		)	(243.5		)	(244.6		)
Tax (expense) benefit from A&B	(1.6		)	(7.2		)	2.0
(Loss) income from A&B	(3.3		)	24.0			33.7
Income from CLX2	—			92.7			28.6
Expenses from CLX2	(4.4		)	(149.4		)	(47.9		)
Tax benefit from CLX2	1.6			21.1			7.2
(Loss) income from discontinued operations, net of tax	$	(6.1	)	$	(11.6	)	$	21.6

- 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 Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 3

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

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

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-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

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

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-Name Accounting Standards Codification

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

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-Section 50

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

-Publisher FASB

-Name Accounting Standards Codification

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

-Publisher FASB

-Name Accounting Standards Codification

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-Publisher FASB

-Name Accounting Standards Codification

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-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

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

Reference 10: 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.

+ Details

INVESTMENT IN TERMINAL JOINT VENTURE

12 Months Ended

Dec. 31, 2012

INVESTMENT IN TERMINAL JOINT VENTURE

INVESTMENT IN TERMINAL JOINT VENTURE

3. INVESTMENT IN TERMINAL JOINT VENTURE

The Company has a 35 percent ownership interest in SSA Terminals, LLC (“SSAT”) through a joint venture between Matson Ventures, Inc., a wholly-owned subsidiary of MatNav, and SSA Ventures, Inc., a subsidiary of Carrix, Inc. SSAT provides terminal and stevedoring services to numerous international carriers at six terminal facilities on the U.S. Pacific Coast and to MatNav at several of those facilities. Matson accounts for its interest in SSAT under the equity method of accounting. Matson records its share of income in the joint venture in operating expenses within the ocean transportation segment, due to operations of the joint venture being an integral part of the Company’s business.

No dividends and distributions from the unconsolidated joint venture were received in 2012. Dividends from the unconsolidated terminal venture totaled $5.3 million and $7.0 million for each of the years ended December 31, 2011 and 2010, respectively. The cost of ocean transportation services included approximately $163.8 million, $175.2 million, and $157.3 million for 2012, 2011, and 2010, respectively, paid to SSAT for terminal services.

Operating results include the Company’s proportionate share of net income from SSAT. A summary of financial information for SSAT at December 31 is as follows (in millions):

	2012		2011

Current assets	$	90.8	$	90.0
Noncurrent assets	139.2		118.7
Total assets	$	230.0	$	208.7

Current liabilities	$	55.9	$	41.3
Noncurrent liabilities	14.7		17.3
Total liabilities	$	70.6	$	58.6

	Year Ended December 31,
	2012			2011		2010
Operating revenue	$	503.9		$	578.6	$	568.5
Operating costs and expenses	506.4			571.7		548.1
Operating (loss) income	$	(2.5	)	$	6.9	$	20.4
Income from continuing operations*	$	9.5		$	26.3	$	35.9
Net income	$	9.5		$	26.3	$	35.9

Company’s share of net income	$	3.2		$	8.6	$	12.8

* Includes earnings from equity method investments held by the investee

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References+ Details

PROPERTY

12 Months Ended

Dec. 31, 2012

PROPERTY

PROPERTY

4. PROPERTY

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

	As of December 31, 2012
	Cost		Accumulated Depreciation and Amortization			Net Book Value

Vessels	$	1,249.1	$	(679.4	)	$	569.7
Containers and equipment	468.5		(300.1		)	168.4
Terminal facilities and other property	38.5		(28.8		)	9.7
Construction in progress	14.7		—			14.7
Total	$	1,770.8	$	(1,008.3	)	$	762.5

	As of December 31, 2011
	Cost		Accumulated Depreciation and Amortization			Net Book Value

Vessels	$	1,225.8	$	(639.3	)	$	586.5
Containers and equipment	481.3		(294.8		)	186.5
Terminal facilities and other property	37.9		(26.1		)	11.8
Construction in progress	15.7		—			15.7
Total	$	1,760.7	$	(960.2	)	$	800.5

	Year Ended December 31,
	2012	2011	2010
Depreciation Expense	70.6	69.4	68.1

- 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, 2012
CAPITAL CONSTRUCTION FUND
CAPITAL CONSTRUCTION FUND	5. 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, 2012 and 2011, 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, 2012

NOTES PAYABLE AND LONG-TERM DEBT

NOTES PAYABLE AND LONG-TERM DEBT

6. NOTES PAYABLE AND LONG-TERM DEBT

At December 31, 2012 and 2011, notes payable and long-term debt consisted of the following (in millions):

	2012			2011

Term Loans:
5.79%, payable through 2020	$	52.5		$	59.5
3.66%, payable through 2023	77.5			—
4.16%, payable through 2027	55.0			—
4.31%, payable through 2032	37.5			—
Title XI Bonds:
5.34%, payable through 2028	35.2			37.4
5.27%, payable through 2029	37.4			39.6

Revolving Credit loans (1.69% for 2012 and 1.29% for 2011)	24.0			61.0
	319.1			197.5
Less current portion	(16.4		)	(17.5		)
Total long-term debt	$	302.7		$	180.0

Long-term Debt Maturities: At December 31, 2012, debt maturities during the next five years and thereafter are as follows (in millions):

2013	$	16.4
2014	30.4
2015	20.5
2016	20.5
2017	28.2
Thereafter	203.1
Total	$	319.1

In September 2003, the Company issued $55.0 million in U.S. Government guaranteed ship finance bonds (Title XI) to partially finance the delivery of the MV Manukai. The secured bonds have a final maturity in September 2028 with a coupon of 5.34%. The bonds are amortized by fifty semi-annual payments of $1.1 million plus interest. In August 2004, the Company issued $55.0 million of U.S. Government guaranteed ship finance bonds (Title XI) to partially finance the delivery of the MV Maunawili. The secured bonds have a final maturity in July 2029, with a coupon of 5.27%. The bonds are amortized by fifty semi-annual payments of $1.1 million plus interest.

In May 2005, the Company partially financed the delivery of the MV Manulani with $105.0 million of Series B Notes with a coupon of 4.79% and a 15-year term. The Company negotiated the release of the MV Manulani as security for existing long-term debt of $56.0 million as part of the Company’s debt restructuring completed during the second quarter of 2012 to facilitate the Separation, resulting in an increase in rate to 5.79%. This obligation was also moved from MatNav to Matson. The notes are amortized by thirty $3.5 million semi-annual principal payments plus interest.

In August 2011, the Company renewed its revolving credit facility; the renewed facility had a commitment of $125.0 million for Matson with an original expiration of August 2016. Amounts drawn under the facility accrued interest at LIBOR plus a margin based on a ratio of consolidated debt to earnings before interest, taxes, depreciation and amortization pricing grid. The agreement contained certain restrictive covenants, the most significant of which requires the maintenance of minimum stockholder’s equity levels and a maximum ratio of consolidated debt to earnings before interest, depreciation, amortization and taxes. Borrowing rates ranged from 1.21% to 1.92% during 2012, 0.44% to 1.91% during 2011 and 0.49% to 1.34% during 2010. As part of Matson’s debt restructuring completed in June 2012, as part of the Separation, the outstanding balance of $72.0 million was paid off and this facility was terminated.

In July 2006, the Company partially financed the delivery of the MV Maunalei by borrowing $70.0 million under a $105.0 million Senior Secured Reducing Revolving Credit Facility. There were no borrowings from this credit facility during 2011 and 2010. In August, 2011, in connection with the renewal of the Company’s revolving credit facility, Matson terminated the Senior Secured Reducing Revolving Credit Facility.

During the second quarter 2012, the Company entered into a new $375.0 million, five-year unsecured revolving credit facility with a syndicate of banks in order to provide additional sources of liquidity for working capital requirements or investment opportunities on a short-term as well as longer-term basis. As of December 31, 2012, the used portion of the Company’s revolving credit facility was $30.8 million, of which $24.0 million was from cash borrowings and $6.8 million was from letters of credit.

During the second quarter of 2012, Matson executed new unsecured, fixed rate, amortizing long-term debt of $170.0 million which was funded in three tranches, $77.5 million at an interest rate of 3.66% maturing in 2023, $55.0 million at an interest rate of 4.16% maturing in 2027, and $37.5 million at an interest rate of 4.31% maturing in 2032. The overall weighted average coupon of the three tranches of debt is 3.97% and the overall weighted average duration of the three tranches of debt is 9.3 years. The cash received from the issuance of the three tranches of debt was partially utilized for the contribution of cash from Matson to A&B. Following the above mentioned debt financing transactions, all of Matson’s outstanding debt was unsecured, except for $72.6 million as of December 31, 2012. The debt is however guaranteed by Matson’s significant subsidiaries

Total debt was $319.1 million as of December 31, 2012, compared with $197.5 million at the end of 2011.

Principal negative covenants as defined in Matson’s five-year revolving credit facility (“Credit Agreement”) and long term fixed rate debt include, but are not limited to:

a) The ratio of debt to consolidated EBITDA cannot exceed 3.25 to 1.00 for each fiscal four quarter period;

b) the ratio of consolidated EBITDA to interest expense as of the end of any fiscal four quarter period cannot be less than 3.50 to 1.00; and

c) The principal amount of priority debt at any time cannot exceed 20% of consolidated tangible assets; and the principal amount of priority debt that is not Title XI priority debt at any time cannot exceed 10% of consolidated tangible assets. Priority debt, as further defined in the Credit Agreement, is all debt secured by a lien on the Company’s assets or subsidiary debt.

The Company was in compliance with these covenants as of December 31, 2012.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

LEASES

12 Months Ended

Dec. 31, 2012

LEASES

LEASES

7. LEASES

The Company has operating leases for vessels, containers, equipment, office and warehouse space and terminal facilities for periods of 1 to 50 years, expiring between 2013 and 2036. Rent expense under operating leases totaled $52.3 million in 2012, $49.6 million in 2011 and $39.8 million in 2010, which includes volume-based terminal rent. Additionally, rent expense for short-term and cancelable equipment rentals was $17.8 million, $38.4 million and $28.2 million in 2012, 2011, and 2010, respectively. Management expects that in the normal course of business most operating leases will be renewed or replaced by other similar leases.

Future minimum payments under operating leases as of December 31, 2012 were as follows (in millions):

	Total
	Operating
	Leases

2013	$	18.3
2014	16.1
2015	13.4
2016	9.5
2017	6.0
Thereafter	5.3
Total minimum lease payments	$	68.6

In addition to the future minimum lease payments above, the Company’s operating lease for terminal facilities in Honolulu 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 $31.7 million in 2012, $26.5 million in 2011, and $21.4 million in 2010, 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

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2012

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

8. EMPLOYEE BENEFIT PLANS

The Company has two funded qualified single-employer defined benefit pension plans that cover certain non-bargaining unit employees and bargaining unit employees. In addition, the Company has plans that provide certain retiree health care and life insurance benefits to substantially all salaried, non-bargaining employees hired before 2008 and to certain bargaining unit employees. Employees are generally eligible for such benefits upon retirement and completion of a specified number of years of 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, 2012, 2011, and year-end target allocation, by asset category, were as follows:

	Target		2012		2011

Domestic equity securities	53	%	56	%	59	%
International equity securities	15	%	14	%	14	%
Debt securities	22	%	19	%	17	%
Real estate	10	%	5	%	6	%
Other and cash	—		6	%	4	%
Total	100	%	100	%	100	%

The Company’s investments in equity securities primarily include domestic large-cap and mid-cap companies, but also include 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 15.2 percent, 8.4 percent, and (0.1) percent, respectively, and the long-term average return (since plan inception in 1989) has been approximately 8.3 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 8.3 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 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, 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 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 invest, financial data and projections of the investee company provided by the general partner, and such other factors as the general partner deems relevant. Insurance contracts are principally invested in real estate assets, which are valued based on independent appraisals.

The fair values of the Company’s pension plan assets at December 31, 2012 and 2011, by asset category, are as follows (in millions):

	Fair Value Measurements at
	December 31, 2012
Asset Category	Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	8.3	$	8.3	$	—	$	—
Equity securities:
U.S. large-cap	53.8		53.8		—		—
U.S. mid- and small-cap	29.8		29.8		—		—
International large-cap	16.7		16.7		—		—
International small-cap	4.3		4.3		—		—
Fixed income securities:
U.S. Treasuries	0.8		—		0.8		—
Municipal bonds	0.2		—		0.2		—
Investment grade U.S. corporate bonds	2.0		—		2.0		—
High-yield U.S. corporate bonds	6.4		—		6.4		—
Emerging markets fixed income	4.3		4.3		—		—
Mortgage-backed securities	14.0		—		14.0		—
Other types of investments:
Real estate partnership interests	7.8		—		—		7.8
Private equity partnership interests (a)	0.8		—		—		0.8
Insurance contracts	—		—		—		—
Total	$	149.2	$	117.2	$	23.4	$	8.6

	Fair Value Measurements at
	December 31, 2011
Asset Category	Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	5.1	$	5.1	$	—	$	—
Equity securities:
U.S. large-cap	50.2		50.2		—		—
U.S. mid- and small-cap	15.6		15.6		—		—
International large-cap	13.6		13.6		—		—
International mid-cap	11.2		11.2		—		—
Fixed income securities:
U.S. Treasuries	0.3		—		0.3		—
Municipal bonds	0.1		—		0.1		—
Investment grade U.S. corporate bonds	1.5		—		1.5		—
High-yield U.S. corporate bonds	4.7		—		4.7		—
Mortgage-backed securities	15.1		—		15.1		—
Other types of investments:
Real estate partnership interests	7.1		—		—		7.1
Private equity partnership interests (a)	0.8		—		—		0.8
Insurance contracts	0.7		—		—		0.7
Total	$	126.0	$	95.7	$	21.7	$	8.6

(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, 2012 and 2011 (in millions):

	Fair Value Measurements Using Significant
	Unobservable Inputs (Level 3)
	Real Estate			Private Equity			Insurance			Total
Beginning balance, December 31, 2010	$	6.3		$	0.9		$	0.5		$	7.7
Actual return (loss) on plan assets:
Assets held at the reporting date	0.9			0.1			—			1.0
Assets sold during the period	0.2			—			—			0.2
Purchases, sales and settlements, net	(0.3		)	(0.2		)	0.2			(0.3		)
Beginning balance, December 31, 2011	7.1			0.8			0.7			8.6
Actual return (loss) on plan assets:
Assets held at the reporting date	1.6			0.1			—			1.7
Assets sold during the period	(0.2		)	0.3			—			0.1
Purchases, sales and settlements, net	(0.7		)	(0.4		)	(0.7		)	(1.8		)
Ending balance, December 31, 2012	$	7.8		$	0.8		$	—		$	8.6

Contributions to each of the qualified single-employer defined benefit pension plans are determined annually 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. In 2012, 2011, and 2010, the Company contributed approximately $13.3 million, $4.4 million, and $5.9 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.

The benefit formulas for employees who are members of collective bargaining units are determined according to the collective bargaining agreements, either using final average pay as the base or a flat dollar amount per year of service.

Effective December 31, 2011, the Company froze benefit accruals under the final average pay formula for salaried, non-bargaining unit employees hired before January 1, 2008 and transitioned them to the same cash balance formula for employees hired on or after January 1, 2008. Retirement benefits under the cash balance formula 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 qualified defined benefit pension plans and the unfunded post-retirement benefit plans at December 31, 2012 and 2011 are shown below (in millions):

	Pension Benefits						Other Post-retirement Benefits
	2012			2011			2012			2011

Change in Benefit Obligation
Benefit obligation at beginning of year	$	192.6		$	189.8		$	48.5		$	51.8
Service cost	2.7			5.4			1.0			0.9
Interest cost	9.0			10.7			2.3			3.0
Plan participants’ contributions	—			—			1.3			1.2
Actuarial (gain) loss	14.9			20.7			(0.6		)	(4.7		)
Benefits paid	(9.1		)	(9.2		)	(3.3		)	(3.7		)
Amendments/Curtailments	—			(24.8		)	—			—
Benefit obligation at end of year	$	210.1		$	192.6		$	49.2		$	48.5

Change in Plan Assets
Fair value of plan assets at beginning of year	$	126.0		$	137.9		$	—		$	—
Actual return on plan assets	19.0			(7.1		)	—			—
Employer contributions	13.3			4.4			—			—
Benefits paid	(9.1		)	(9.2		)	—			—
Fair value of plan assets at end of year	149.2			126.0			—			—
Funded Status and Recognized Liability	$	(60.9	)	$	(66.6	)	$	(49.2	)	$	(48.5	)

The accumulated benefit obligation for the Company’s qualified pension plans was $209.6 million and $191.9 million as of December 31, 2012 and 2011, respectively. Amounts recognized on the consolidated balance sheets and in accumulated other comprehensive loss at December 31, 2012 and 2011 were as follows (in millions):

	Pension Benefits						Other Post-retirement Benefits
	2012			2011			2012			2011

Current liabilities	$	—		$	—		$	(2.1	)	$	(2.1	)
Non-current liabilities	(60.9		)	(66.6		)	(47.1		)	(46.4		)
Total	$	(60.9	)	$	(66.6	)	$	(49.2	)	$	(48.5	)

Net loss (gain) (net of taxes)	$	55.8		$	56.1		$	0.7		$	0.6
Prior service cost (net of taxes)	(13.4		)	(14.8		)	0.1			0.1
Total	$	42.4		$	41.3		$	0.8		$	0.7

The information for qualified pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2012 and 2011 is shown below (in millions):

	2012		2011
Projected benefit obligation	$	210.1	$	192.6
Accumulated benefit obligation	$	209.6	$	191.9
Fair value of plan assets	$	149.2	$	126.0

The estimated prior service credit for the qualified pension plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2013 is $2.3 million. The estimated net loss that will be recognized in net periodic pension cost for the qualified pension plans in 2013 is $6.8 million. The estimated net loss and prior service cost for the other post-retirement benefit plans that will be amortized from accumulated other comprehensive loss into net periodic pension cost in 2013 is $0.3 million.

Unrecognized gains and losses of the post-retirement benefit plans are amortized over five years. Although current health care 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 qualified pension plans and the post-retirement health care and life insurance benefit plans during 2012, 2011, and 2010, are shown below (in millions):

	Pension Benefits									Other Post-retirement Benefits
	2012			2011			2010			2012			2011			2010
Components of Net Periodic Benefit Cost
Service cost	$	2.7		$	5.4		$	4.6		$	1.0		$	0.9		$	0.7
Interest cost	9.0			10.7			10.3			2.3			3.0			2.6
Expected return on plan assets	(10.7		)	(11.1		)	(9.7		)	—			—			—
Amortization of net loss (gain)	7.0			4.0			3.5			0.6			1.9			0.4
Amortization of prior service cost	(2.3		)	0.1			0.1			0.1			0.2			0.2
Recognition of loss due to settlement	—			—			—			—			—			—
Net periodic benefit cost	$	5.7		$	9.1		$	8.8		$	4.0		$	6.0		$	3.9

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax)
Net loss (gain)	$	4.0		$	23.8		$	3.6		$	(0.4	)	$	(2.5	)	$	3.9
Amortization of unrecognized (loss) gain	(4.2		)	(2.4		)	(2.1		)	(0.3		)	(1.0		)	(0.2		)
Prior service (credit) cost	—			(15.1		)	—			—			—			—
Amortization of prior service cost	1.4			(0.1		)	(0.1		)	—			(0.1		)	(0.1		)
Total recognized in other comprehensive income	1.2			6.2			1.4			(0.7		)	(3.6		)	3.6
Total recognized in net periodic benefit cost and other comprehensive income	$	6.9		$	15.3		$	10.2		$	3.3		$	2.4		$	7.5

The weighted average assumptions used to determine benefit information during 2012, 2011, and 2010, were as follows:

	Pension Benefits						Other Post-retirement Benefits
	2012		2011		2010		2012		2011		2010
Weighted Average Assumptions:
Discount rate	4.2	%	4.8	%	5.8	%	4.3	%	4.9	%	5.8	%
Expected return on plan assets	8.3	%	8.3	%	8.3	%
Rate of compensation increase	3.0	%	4.0	%	4.0	%	3.0	%	4.0	%	4.0	%
Initial health care cost trend rate							8.0	%	9.0	%	10.0	%
Ultimate rate							4.5	%	5.0	%	5.0	%
Year ultimate rate is reached							2020		2016		2016

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, 2012, 2011, and 2010 and the net periodic post-retirement benefit cost for 2012, 2011 and 2010, would have increased or decreased as follows (in millions):

	Other Post-retirement Benefits
	One Percentage Point
	Increase						Decrease
	2012		2011		2010		2012			2011			2010

Effect on total of service and interest cost components	$	0.6	$	0.6	$	0.5	$	(0.4	)	$	(0.5	)	$	(0.4	)
Effect on post-retirement benefit obligation	$	6.5	$	6.6	$	7.1	$	(5.2	)	$	(5.3	)	$	(5.7	)

Non-qualified Pension 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 law. A few employees and retirees receive additional supplemental pension benefits. The Company also has a frozen non-qualified pension plan that covers two outside directors and pays retirement benefits in a lump sum from the Company’s general funds. The obligation relating to these plans, totaled $7.9 million at December 31, 2012. A 2.4 percent discount rate was used to determine the 2012 obligation. The expense associated with the non-qualified plans was $0.3 million in 2012, $0.8 million in 2011, and $1.5 million in 2010. As of December 31, 2012, the amount recognized in accumulated other comprehensive income for net loss, net of tax, was approximately $2.0 million, and the amount recognized as prior service credit, net of tax, was $0.9 million. The estimated net loss and prior service credit, net of tax, that will be recognized in net periodic pension cost in 2013 is $0.2 million.

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

	Qualified
	Pension		Non-qualified		Post-retirement
Year	Benefits		Pension Benefits		Benefits (1)

2013	$	10.5	$	0.8	$	2.2
2014	11.0		3.3		2.3
2015	11.4		0.6		2.4
2016	11.7		0.8		2.4
2017	12.0		0.2		2.5
2018-2022	$	64.2	$	1.6	$	13.0

(1) Net of plan participants’ contributions and Medicare D subsidies.

Current liabilities of approximately $2.9 million, related to non-qualified pension benefits and postretirement benefits, are classified as accrued and other liabilities in the consolidated balance sheet as of December 31, 2012.

Multiemployer Plans: The Company contributes to nine 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, 2012, 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 2012 and 2011 is for the plan’s year-end at December 31, 2012 and 2011, 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

FIP/RP
Status

Contributions of Matson

Expiration
Date of
Collective

EIN/Pension

31,

Pending/

($ in millions)

Surcharge

Bargaining

Pension Fund

Plan Number

2012

2011

Implemented

2012

2011

2010

Imposed

Agreement

Hawaii Stevedoring Multiemployer Retirement Plan

99-0314293/001

Yellow

Implemented

2.4

2.2

2.0

6/30/2014

Master, Mates and Pilots

13-6372630/001

Green

None

3.4

3.0

2.9

8/15/2023, 8/15/2018

Hawaii Terminals Multiemployer Pension Plan

20-0389370/001

Yellow

Implemented

5.1

5.2

6/30/2014

MEBA Pension Trust

51-6029896/001

Green

None

2.1

—

8/15/2018

OCU Trust Pension

26-1574440/001

Green

None

0.1

6/30/2013

Other Plans

Green

—

Total

13.1

10.5

10.2

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 two collective-bargaining agreements based upon vessels that require contributions to this plan: Contract A, covering thirteen vessels, expires on August 15, 2023, and Contract B, covering one managed vessel, expires on August 15, 2018.

In 2012, Matson agreed to contribute at least 11.7% of total wages paid to employees in covered MEBA employment to the MEBA Pension Trust by a reallocation of the total labor cost under the collective bargaining agreement. The pension contribution rate was determined by the plan’s actuary to be necessary to maintain full funding of the pension plan and is fully offset by a reallocation of wages and other benefits.

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		Exceeded More than 5 Percent of Total Contributions (as of December 31 of the Plan’s Year- End)
Hawaii Stevedoring Multiemployer Pension Plan		2012, 2011 and 2010
Hawaii Terminals Multiemployer Pension Plan		2012, 2011 and 2010
Masters, Mates and Pilots Pension Plan*		2011 and 2010

* As of the date the financial statements were issued, Form 5500s were not available for the plan years ending in 2012 for this and other plans.

Matson contributes to seven 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 $10.8 million in 2012, $10.7 million in 2011, and $10.5 million in 2010. 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 Sections 401(a) and 401(k) of the Internal Revenue Code. These plans provide matching contributions of up to 4 percent of eligible employee compensation. For all non-bargaining unit employees who were participants in the Company’s defined benefit pension plan, the 401(k) matching contributions were suspended for 2010 but reinstated in 2011. The Company’s matching contributions expensed under these plans totaled $1.6 million, $1.5 million and $0.2 million for the years ended December 31, 2012, 2011, and 2010, respectively. The Company also provides profit sharing contributions under the qualified defined contribution plans; if a minimum threshold of Matson’s performance is achieved, the Company provides contributions to salaried, non-bargaining employees of up to 3 percent based on a formula which may change on an annual basis. For certain eligible employees, supplemental profit sharing contributions are credited under a non-qualified plan to be paid after separation from service from the Company’s general funds so that total profit sharing contributions would be substantially equal to amounts that would have been contributed to the Company’s qualified defined contribution plans if it were not for limitations imposed by income tax law. Profit sharing contributions to certain bargaining unit employees are determined under collective bargaining agreements. Profit sharing expenses recorded in 2012 and 2010 under this plan totaled $1.2 million and $1.7 million, respectively. No expense was recorded in 2011 when the plan was suspended.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

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-Publisher FASB

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-Publisher FASB

-Name Implementation Guide (Q and A)

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-Name Statement of Financial Accounting Standard (FAS)

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+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2012

INCOME TAXES

INCOME TAXES

9. INCOME TAXES

The income tax expense on income from continuing operations for each of the three years in the period ended December 31, 2012 consisted of the following (in millions):

	2012			2011			2010
Current:
Federal	$	38.9		$	26.5		$	38.1
State	3.2			1.8			5.4
Total	42.1			28.3			43.5
Deferred	(9.1		)	(3.2		)	3.2
Provision for income taxes	$	33.0		$	25.1		$	46.7

Income tax expense for 2012, 2011, and 2010 differs from amounts computed by applying the statutory federal rate to income from continuing operations before income taxes for the following reasons (in millions):

	2012			2011			2010

Computed federal income tax expense	$	29.7		$	24.9		$	41.2
State income taxes	0.5			1.4			5.0
Deferred tax adjustment	(1.4		)	—			—
Separation costs	1.7			—			—
Unrecognized tax benefit	1.5			—			—
Other — net	1.0			(1.2		)	0.5
Provision for income taxes	$	33.0		$	25.1		$	46.7

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):

	2012		2011
Deferred tax assets:
Benefit plans	$	54.0	$	52.5
Insurance reserves	9.7		7.8
Allowance for doubtful accounts	1.7		1.9
Reserves	1.7		2.5
Other	0.3		1.9
Total deferred tax assets	67.4		66.6

Deferred tax liabilities:
Basis differences for property and equipment	292.6		301.1
Capital Construction Fund	3.3		3.3
Joint ventures and other investments	3.8		6.0
Deferred revenue	10.9		8.0
Amortization	2.1		2.0
Total deferred tax liabilities	312.7		320.4

Net deferred tax liability	$	245.3	$	253.8

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 $1.3 million and $0.6 million for 2012 and 2011, 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.

In connection with the Separation, the Company incurred certain financial advisory, legal, tax and other professional fees, a portion of which is not deductible under the tax regulations. Accordingly, the Company’s income taxes for the year ended December 31, 2012, were increased by approximately $1.7 million, related to the non-deductibility of certain Separation costs.

Also in connection with the Separation, the Company entered into a Tax Sharing Agreement with A&B that governs the respective rights, responsibilities and obligations of the companies after the Separation with respect to tax liabilities and benefits, tax attributes, tax contests and other tax sharing regarding U.S. federal, state, local and foreign income taxes, other tax matters and related tax returns. A&B has liability to Matson with respect to Matson’s consolidated or combined U.S. federal, state, local and foreign income tax liability for the taxes that are attributed to A&B’s businesses and relative contribution to state and other taxable income of the Matson consolidated or combined group relating to the taxable periods in which A&B was a part of that group. The Tax Sharing Agreement specifies the portion, if any, of this tax liability for which Matson and A&B will bear responsibility, and Matson and A&B agreed to indemnify each other against any amounts for which they are not responsible. Under the Tax Sharing Agreement, Matson also generally will be responsible for any taxes that arise from the failure of the Separation, together with certain related transactions, to qualify as tax-free for U.S. federal income tax purposes within the meaning of Sections 355 and 368 of the Code, to the extent such failure to qualify is attributable to actions, events or transactions relating to Matson’s stock, assets or business, or a breach of the relevant representations or covenants made by Matson in the Tax Sharing Agreement, the materials submitted to the Internal Revenue Service in connection with the ruling request relating to the Separation or the representation letter provided to counsel in connection with such counsel’s issuance of a tax opinion relating to certain aspects of the Separation. In addition, each of Matson and A&B generally will be responsible for a portion of any taxes that arise from the failure of the Separation, together with certain related transactions, to qualify as tax-free for U.S. federal income tax purposes within the meaning of Sections 355 and 368 of the Code, if such failure is for any reason for which neither Matson nor A&B is responsible. The Tax Sharing Agreement also imposes restrictions on the respective abilities of Matson and A&B to engage in certain actions following the Separation.

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

Balance at December 31, 2009	$	2.7
Additions for tax positions of prior years	—
Additions for tax positions of current year	1.1
Reductions for tax positions of prior years	(0.3		)
Reductions for lapse of statute of limitations	—
Balance at December 31, 2010	3.5
Additions for tax positions of prior years	0.3
Reductions for tax positions of current year	(0.5		)
Reductions for tax positions of prior years	—
Reductions for lapse of statute of limitations	(0.7		)
Balance at December 31, 2011	2.6
Additions for tax positions of prior years	4.0
Additions for tax positions of current year	3.7
Reductions for tax positions of prior years	(1.0		)
Reductions for lapse of statute of limitations	(1.0		)
Balance at December 31, 2012	$	8.3

The Company increased its unrecognized tax benefits by $4.0 million based on Matson becoming the primary taxpayer for all unpaid tax positions prior to Separation. The $4.0 million represents the Former Parent Company’s liability which will be repaid to Matson through an indemnification agreement with A&B.

Of the total unrecognized benefits, $8.3 million $2.6 million and $3.5 million, at December 31, 2012, 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 twelve 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. Interest accrued related to the balance of unrecognized tax benefits totaled $0.4 million as of December 31, 2012, and $0.2 million as of December 31, 2011 and 2010.

The Company is no longer subject to U.S. federal income tax audits for years before 2009. The Company is routinely involved in state and local income tax audits. Substantially all material income tax matters have been concluded for years through 2007.

- 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 FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

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

-Publisher FASB

-Name Accounting Standards Codification

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-SubTopic 10

-Section S99

-Paragraph 1

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

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

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-Paragraph h

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

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+ Details

SHARE-BASED AWARDS

12 Months Ended

Dec. 31, 2012

SHARE-BASED AWARDS

SHARE-BASED AWARDS

10. 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, 2012, 6.2 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 stock under the 2007 Plan. Shareholders approved the amended 2007 Plan at the 2010 Annual Meeting of Shareholders.

In connection with the Separation, on June 29, 2012, each stock option held by a Matson employee was converted into an adjusted Matson stock option. The exercise prices of the adjusted Matson stock options and the number of shares subject to each such stock option reflects a mechanism that was intended to preserve the intrinsic value of the original stock option. The modification of the awards did not result in any additional stock compensation expense to be recorded upon Separation. The resulting Matson stock options are subject to substantially the same terms, vesting conditions and other restrictions, if any, that were applicable to the Former Parent Company stock options immediately prior to the Separation.

Also, in connection with the Separation, any unvested restricted stock units (“RSUs”) granted to Matson employees were converted into Matson RSUs. The RSU grants were converted in a manner that was intended to preserve the fair market value of the awards. The resulting Matson RSU grants are subject to substantially the same terms, vesting conditions and other restrictions, if any, that were applicable to the grants immediately prior to the Separation.

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 Former Parent Company 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, prior to the Separation, of the options granted during 2012, 2011, and 2010 were $10.74, $8.92, and $6.59, respectively, per option. No options were granted after the Separation, therefore all weighted average assumptions provided in the table below are prior to the Separation:

	2012		2011		2010

Expected volatility	31.8	%	29.2	%	28.8	%
Expected term (in years)	6.1		6.0		5.8
Risk-free interest rate	1.2	%	2.3	%	2.7	%
Dividend yield	2.7	%	3.1	%	3.8	%

· Expected volatility was primarily determined using the historical volatility of Matson 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 and comprehensive income.

Activity in the Company’s stock option plans for the year ended December 31, 2012, exclusive of 2.9 million options cancelled in connection with the Separation, was as follows (in thousands, except weighted average exercise price and weighted average contractual life):

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

Outstanding, January 1, 2012	1,329		572		195		2,096		$	20.11
Granted	111		—		—		111		$	23.74
Exercised	(448	)	(190	)	(49	)	(687	)	$	17.57
Forfeited and expired	(38	)	(129	)	—		(167	)	$	24.62
Outstanding, December 31, 2012	954		253		146		1,353		$	21.15	5.6	$	4,794

Exercisable, December 31, 2012	512		253		146		911		$	21.40	4.5	$	3,071

The following table summarizes non-vested restricted stock unit activity through December 31, 2012, exclusive of 0.3 million non-vested restricted stock units cancelled in connection with the Separation, (in thousands, except weighted average grant-date fair value amounts):

	2007
	Plan		Weighted
	Restricted		Average
	Stock		Grant-Date
	Units		Fair Value

Outstanding, January 1, 2012	394		$	18.45
Granted	226		$	17.46
Vested	(155	)	$	16.58
Canceled	(109	)	$	20.62
Outstanding, December 31, 2012	356		$	17.97

As of December 31, 2012, the number of shares remaining available for future issuance under all equity compensation plans (excluding 1.4 million shares to be issued upon exercise of outstanding options, warrants and rights) is 6.2 million.

A summary of compensation cost related to share-based payments, exclusive of A&B related compensation prior to the Separation, is as follows (in millions):

	2012			2011			2010
Share-based expense (net of estimated forfeitures):
Stock options	$	0.9		$	0.8		$	0.7
Non-vested stock and restricted stock units	3.1			1.9			1.8
Total share-based expense	$	4.0		$	2.7		$	2.5
Total recognized tax benefit	(1.6		)	(0.9		)	(0.8		)
Share-based expense (net of tax)	$	2.4		$	1.8		$	1.7

Cash received by Matson upon option exercise	$	3.5		$	2.0		$	0.4
Intrinsic value of options exercised	$	5.2		$	1.1		$	0.2
Tax benefit realized upon option exercise	$	1.5		$	0.4		$	0.1
Fair value of stock vested	$	3.8		$	2.5		$	1.2

As of December 31, 2012, there was $0.5 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 1.3 years. As of December 31, 2012, unrecognized compensation cost related to restricted stock units was $7.0 million. The unrecognized cost for non-vested stock and restricted stock units is expected to be recognized over a weighted average period of 2.0 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

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-Paragraph 1

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-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64, 65, A240

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-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

Reference 8: 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.

+ Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2012

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

11. COMMITMENTS AND CONTINGENCIES

Commitments and Contingencies: Commitments and financial arrangements, excluding lease commitments that are described in Note 7, included the following as of December 31, 2012 (in millions):

Standby letters of credit	(a)	$	6.8
Bonds	(b)	$	14.2
Benefit plan withdrawal obligations	(c)	$	102.1

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) Includes approximately $5.6 million in letters of credit which are required for the Company’s self-insured workers’ compensation programs and its other insurance programs, and approximately $1.2 million in letters of credit used to support various credit enhancement needs.

(b) Consists of approximately $13.0 million in U.S. Customs bonds, and approximately $1.2 million related to transportation and other matters.

(c) Represents the withdrawal liabilities as of the most recent valuation dates for multiemployer pension plans, in which Matson is a participant. Management has no present intention of withdrawing from, and does not anticipate the termination of, any of the aforementioned plans.

Environmental Matters: As with most transportation companies of its size, the Company’s shipping business has certain risks that could result in expenditures for environmental remediation. 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.

Other Contingencies: 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 on the Puerto Rico trade, it also includes pricing and other competitive practices in 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, it could seek civil or criminal sanctions, including monetary fines. Matson does not believe that it has committed a violation, and consequently is unable to estimate any possible loss at this time.

Matson 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 Matson’s consolidated financial statements.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

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-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

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+ Details

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2012

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

12. RELATED PARTY TRANSACTIONS

Effective upon the completion of the Separation, Matson ceased to be a related party of the Former Parent Company. Prior to the Separation, transactions with Former Parent Company were considered related party transactions, as discussed below.

Historically, the Company provided vessel management services to A&B for its bulk sugar vessel, the MV Moku Pahu, the income of which is included in ocean transportation. Additionally, the Company expensed operating costs related to a lease for industrial warehouse space in Savannah, Georgia, that is leased from A&B. The Company also recognized the cost for equipment and repair services to the vessel and other various services provided by A&B in operating costs.

The amounts of these related party transactions are as follows (in millions):

	Years Ended December 31,
	2012			2011			2010
Vessel management services income	$	2.0		$	4.0		$	3.8
Lease expense to A&B	(2.1		)	(4.4		)	(3.8		)
Equipment and repair services expense and other	(1.4		)	(2.7		)	(2.7)		)
Related party expense, net	$	(1.5	)	$	(3.1	)	$	(2.7)

Contributions to A&B totaled $155.7 million for the year ended December 31, 2012, which related to the Separation. Contributions to A&B for the proceeds from the issuance of capital stock of $21.7 million for the year ended December 31, 2012, have been included in the Consolidated Financial Statements due to Matson being the successor company of the Former Parent Company for accounting purposes. Contributions from the Former Parent Company of $25.0 million, $40.3 million and $43.0 million for the years ended December 31, 2012, 2011, and 2010 respectively, represent dividends paid by the Former Parent Company to its shareholders prior to the Separation offset by distributions to the Former Parent Company for the issuance of capital stock and stock based compensation, which are reflected in the Consolidated Financial Statements due to Matson being the successor company of the Former Parent Company for accounting purposes.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

REPORTABLE SEGMENTS

12 Months Ended

Dec. 31, 2012

REPORTABLE SEGMENTS

REPORTABLE SEGMENTS

13. REPORTABLE SEGMENTS

Reporting 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.

Matson consists of two segments:

Ocean Transportation: The ocean transportation segment of Matson’s business, which is conducted through MatNav, is an asset-based business that generates revenue primarily through the carriage of containerized freight between various U.S. Pacific Coast, Hawaii, Guam, Micronesia, China and other Pacific island ports. MatNav also records its share of income in the terminal joint venture in operating expenses within the ocean transportation segment, due to operations of the joint venture being an integral part of the Company’s business.

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.

Reportable segment information for 2012, 2011, and 2010 is summarized below (in millions):

	For the Year Ended December 31,
	2012			2011(1)			2010(1)
Revenue:
Ocean transportation	$	1,189.8		$	1,076.2		$	1,015.0
Logistics services	370.2			386.4			355.6
Total revenue	$	1,560.0		$	1,462.6		$	1,370.6
Operating Income:
Ocean transportation(2)	$	96.6		$	73.7		$	118.3
Logistics services	0.1			4.9			7.1
Total operating income	96.7			78.6			125.4
Interest expense, net	(11.7		)	(7.7		)	(8.2		)
Income from continuing operations before income taxes	85.0			70.9			117.2
Income taxes	33.0			25.1			46.7
Income from continuing operations	52.0			45.8			70.5
Discontinued operations	(6.1		)	(11.6		)	21.6
Net income	$	45.9		$	34.2		$	92.1

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

(2) The ocean transportation segment includes approximately $3.2 million, $8.6 million, and $12.8 million of equity in earnings from its investment in SSAT for 2012, 2011, and 2010, respectively.

	As of December 31,
As of December 31:	2012		2011		2010
Identifiable Assets:
Ocean transportation(3)	$	1,097.2	$	1,083.9	$	1,084.7
Logistics(4)	77.1		76.4		73.8
Other(5)	—		1,384.0		1,336.1
Total assets	$	1,174.3	$	2,544.3	$	2,494.6
Capital Expenditures:
Ocean transportation	$	37.0	$	44.2	$	69.4
Logistics(6)	1.1		3.0		1.8
Total capital expenditures	$	38.1	$	47.2	$	71.2
Depreciation and Amortization from Continuing Operations:
Ocean transportation	$	69.1	$	68.4	$	67.6
Logistics	3.4		3.2		3.2
Total depreciation and amortization	$	72.5	$	71.6	$	70.8

(3) The ocean transportation segment includes approximately $59.6 million, $56.5 million, and $52.9 million related to its investment in SSAT as of December 31, 2012, 2011, and 2010, respectively.

(4) Include goodwill of $27.0 million as of December 31, 2012, 2011, and 2010.

(5) Includes assets related to discontinued operations from A&B and CLX2 of $1.4 billion and $1.3 billion as of December 31, 2011 and 2010, respectively.

(6) Excludes expenditures related to Logistics’ acquisitions, which are classified as acquisition of businesses in Cash Flows from Investing Activities within the Consolidated Statements of Cash Flows.

- 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, 2012

QUARTERLY INFORMATION (Unaudited)

QUARTERLY INFORMATION (Unaudited)

14. QUARTERLY INFORMATION (Unaudited)

Segment results by quarter for 2012 and 2011 are listed below (in millions, except per-share amounts):

	2012
	Q1			Q2			Q3			Q4
Revenue:
Ocean transportation	$	279.5		$	299.5		$	307.1		$	303.7
Logistics	86.6			94.7			94.3			94.6
Total operating revenue	$	366.1		$	394.2		$	401.4		$	398.3
Operating Income (loss):
Ocean transportation	$	5.8		$	31.2		$	32.9		$	26.7
Logistics services	0.3			1.3			1.3			(2.8		)
Total operating income	6.1			32.5			34.2			23.9
Interest Expense	(2.0		)	(1.9		)	(4.0		)	(3.8		)
Income From Continuing Operations before Income Taxes	4.1			30.6			30.2			20.1
Income tax expense	2.1			15.3			11.2			4.4
Income From Continuing Operations	2.0			15.3			19.0			15.7
Discontinued Operations(1)	1.4			(7.5		)	0.1			(0.1		)
Net Income	$	3.4		$	7.8		$	19.1		$	15.6

Income From Continuing Operations
Earnings Per Share:
Basic	$	0.05		$	0.36		$	0.45		$	0.37
Diluted	$	0.05		$	0.36		$	0.45		$	0.37

Net Income
Earnings Per Share:
Basic	$	0.08		$	0.18		$	0.45		$	0.37
Diluted	$	0.08		$	0.18		$	0.45		$	0.36

	2011
	Q1			Q2			Q3			Q4
Revenue:
Ocean transportation	$	238.4		$	274.3		$	281.4		$	282.1
Logistics	91.3			103.1			99.2			92.8
Total operating revenue	$	329.7		$	377.4		$	380.6		$	374.9
Operating Income (loss):
Ocean transportation	$	5.2		$	27.1		$	28.9		$	12.5
Logistics services	1.5			2.1			2.0			(0.7		)
Total operating income	6.7			29.2			30.9			11.8
Interest Expense	(1.9		)	(1.9		)	(1.9		)	(2.0		)
Income From Continuing Operations before Income Taxes	4.8			27.3			29.0			9.8
Income tax expense	1.8			9.6			10.6			3.1
Income From Continuing Operations	3.0			17.7			18.4			6.7
Discontinued Operations(1)	2.2			1.0			(9.7		)	(5.1		)
Net Income	$	5.2		$	18.7		$	8.7		$	1.6

Income From Continuing Operations
Earnings Per Share:
Basic	$	0.07		$	0.42		$	0.44		$	0.16
Diluted	$	0.07		$	0.42		$	0.44		$	0.16

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

(1)See Note 2 for discussion of discontinued operations.

- 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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Fiscal Year

Risks and Uncertainties

Use of Estimates

Cash and Cash Equivalents

Fair Value of Financial Instruments

	Carrying Value at		Fair Value Measurements at
	December 31, 2012		December 31, 2012
(in millions)	Total		Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash & cash equivalents	$	19.9	$	19.9	$	19.9	$	—	$	—
Accounts and notes receivable	174.7		174.7		—		174.7		—
Variable rate debt	24.0		24.0		—		24.0		—
Fixed rate debt	295.1		316.8		—		316.8		—

	Carrying Value at		Fair Value Measurements a
	December 31, 2011		December 31, 2011
(in millions)	Total		Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash & cash equivalents	$	9.8	$	9.8	$	9.8	$	—	$	—
Accounts and notes receivable	167.7		167.7		—		167.7		—
Variable rate debt	61.0		61.0		—		61.0		—
Fixed rate debt	136.5		148.1		—		148.1		—

Allowance for Doubtful Accounts

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

2012	$	5.3	$	0.7	$	(1.3	)	$	4.7
2011	$	6.1	$	—	$	(0.8	)	$	5.3
2010	$	8.1	$	—	$	(2.0	)	$	6.1

Dry-docking

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
Machinery and equipment		2 to 20
Terminal facilities		3 to 35

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

Impairment of Investment

Impairment of Vessels

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the years ended December 31, 2012 and 2011 were as follows (in millions):

	Goodwill

Balance, December 31, 2010	$	27.0
Additions	—
Balance, December 31, 2011	27.0
Additions	—
Balance, December 31, 2012	$	27.0

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

	2012								2011
	Gross								Gross
	Carrying		Impairment			Accumulated			Carrying		Accumulated
	Amount		Charges			Amortization			Amount		Amortization
Amortized intangible assets:
Customer lists	$	11.8	$	(2.1	)	$	(6.2	)	$	11.8	$	(5.6	)
Other	3.8		—			(3.4		)	3.8		(3.3		)
Total assets	$	15.6	$	(2.1	)	$	(9.6	)	$	15.6	$	(8.9	)

	Estimated Amortization

2013	$		0.7
2014	0.7
2015	0.7
2016	0.7
2017	0.7
Thereafter	0.4
Total	$	3.9

Recognition of revenues and expenses

Non-voyage costs

Non-voyage costs: Charter hire, terminal operating overhead, and general and administrative expenses are charged to expense as incurred.

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):

	Year Ended December 31, 2012							Year Ended December 31, 2011							Year Ended December 31, 2010
				Weighted	Per						Weighted	Per					Weighted	Per
				Average	Common						Average	Common					Average	Common
	Net			Common	Share			Net			Common	Share			Net		Common	Share
	Income			Shares	Amount			Income			Shares	Amount			Income		Shares	Amount
Basic:
Income from continuing operations	$	52.0		42.3	$	1.23		$	45.8		41.6	$	1.10		$	70.5	41.2	$	1.71
(Loss) income from discontinued operations	(6.1		)	42.3	(0.14		)	(11.6		)	41.6	(0.28		)	21.6		41.2	0.52
	45.9				$	1.09		34.2				$	0.82		92.1			$	2.23

Effect of Dilutive Securities				0.4							0.4						0.3

Diluted:
Income from continuing operations	52.0			42.7	1.22			45.8			42.0	1.09			70.5		41.5	1.70
(Loss) income from discontinued operations	(6.1		)	42.7	(0.14		)	(11.6		)	42.0	(0.28		)	21.6		41.5	0.52
	$	45.9			$	1.08		$	34.2			$	0.81		$	92.1		$	2.22

Income Taxes

Comprehensive Income (Loss)

Environmental Costs

Self-Insured Liabilities

Impact of Recently Issued Accounting Standards

Rounding

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of breakdown of separation cash outflows

The breakdown of Separation cash outflows were as follows (in millions):

	Separation Cash Outflows
Capital contribution to A&B	$	155.7
Separation costs	8.6
Capitalized debt financing costs	1.9
Total cash outflow related to the Separation	$	166.2

Schedule of fair value measurement

	Carrying Value at		Fair Value Measurements at
	December 31, 2012		December 31, 2012
(in millions)	Total		Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash & cash equivalents	$	19.9	$	19.9	$	19.9	$	—	$	—
Accounts and notes receivable	174.7		174.7		—		174.7		—
Variable rate debt	24.0		24.0		—		24.0		—
Fixed rate debt	295.1		316.8		—		316.8		—

	Carrying Value at		Fair Value Measurements a
	December 31, 2011		December 31, 2011
(in millions)	Total		Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash & cash equivalents	$	9.8	$	9.8	$	9.8	$	—	$	—
Accounts and notes receivable	167.7		167.7		—		167.7		—
Variable rate debt	61.0		61.0		—		61.0		—
Fixed rate debt	136.5		148.1		—		148.1		—

Schedule of changes in the allowance for doubtful accounts, included on the consolidated balance sheets as an offset to Accounts and notes receivable

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, 2012 were as follows (in millions):

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

2012	$	5.3	$	0.7	$	(1.3	)	$	4.7
2011	$	6.1	$	—	$	(0.8	)	$	5.3
2010	$	8.1	$	—	$	(2.0	)	$	6.1

Schedule of estimated useful lives of property

Classification		Range of Life (in years)

Vessels		10 to 40
Machinery and equipment		2 to 20
Terminal facilities		3 to 35

Schedule of changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2012 and 2011 were as follows (in millions):

	Goodwill

Balance, December 31, 2010	$	27.0
Additions	—
Balance, December 31, 2011	27.0
Additions	—
Balance, December 31, 2012	$	27.0

Schedule of intangible assets

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

	2012								2011
	Gross								Gross
	Carrying		Impairment			Accumulated			Carrying		Accumulated
	Amount		Charges			Amortization			Amount		Amortization
Amortized intangible assets:
Customer lists	$	11.8	$	(2.1	)	$	(6.2	)	$	11.8	$	(5.6	)
Other	3.8		—			(3.4		)	3.8		(3.3		)
Total assets	$	15.6	$	(2.1	)	$	(9.6	)	$	15.6	$	(8.9	)

Schedule of estimated amortization expenses related to intangibles

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

	Estimated Amortization

2013	$		0.7
2014	0.7
2015	0.7
2016	0.7
2017	0.7
Thereafter	0.4
Total	$	3.9

Schedule of Basic and Diluted Earnings Per Share

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

	Year Ended December 31, 2012							Year Ended December 31, 2011							Year Ended December 31, 2010
				Weighted	Per						Weighted	Per					Weighted	Per
				Average	Common						Average	Common					Average	Common
	Net			Common	Share			Net			Common	Share			Net		Common	Share
	Income			Shares	Amount			Income			Shares	Amount			Income		Shares	Amount
Basic:
Income from continuing operations	$	52.0		42.3	$	1.23		$	45.8		41.6	$	1.10		$	70.5	41.2	$	1.71
(Loss) income from discontinued operations	(6.1		)	42.3	(0.14		)	(11.6		)	41.6	(0.28		)	21.6		41.2	0.52
	45.9				$	1.09		34.2				$	0.82		92.1			$	2.23

Effect of Dilutive Securities				0.4							0.4						0.3

Diluted:
Income from continuing operations	52.0			42.7	1.22			45.8			42.0	1.09			70.5		41.5	1.70
(Loss) income from discontinued operations	(6.1		)	42.7	(0.14		)	(11.6		)	42.0	(0.28		)	21.6		41.5	0.52
	$	45.9			$	1.08		$	34.2			$	0.81		$	92.1		$	2.22

- Definition

Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2.

+ References

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-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 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 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.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a,b,bb)

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2C

-URI http://asc.fasb.org/extlink&oid=7578670&loc=SL7498348-110258

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-Subparagraph a, 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.

+ Details

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References+ Details

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2012

DISCONTINUED OPERATIONS

Liabilities Associated with Termination of CLX2

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

	Containers and Charter Liabilities			Other Contractual Liabilities			Total

Balance at December 31, 2010	$	—		$	—		$	—
Expenses incurred	11.8			0.7			12.5
Amounts paid	(7.0		)	(0.6		)	(7.6		)
Balance at December 31, 2011	$	4.8		$	0.1		$	4.9
Expenses incurred	4.5			—			4.5
Amounts paid	(9.3		)	(0.1		)	(9.4		)
Balance at December 31, 2012	$	—		$	—		$	—

Income (losses) from discontinued operations

Income (losses) from discontinued operations consisted of the following (in millions):

	Year Ended December 31,
	2012			2011			2010
Discontinued operations, net of tax:
Income from A&B	$	116.4		$	274.7		$	276.3
Expenses from A&B	(118.1		)	(243.5		)	(244.6		)
Tax (expense) benefit from A&B	(1.6		)	(7.2		)	2.0
(Loss) income from A&B	(3.3		)	24.0			33.7
Income from CLX2	—			92.7			28.6
Expenses from CLX2	(4.4		)	(149.4		)	(47.9		)
Tax benefit from CLX2	1.6			21.1			7.2
(Loss) income from discontinued operations, net of tax	$	(6.1	)	$	(11.6	)	$	21.6

- 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

- Definition

Tabular disclosure of 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. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References+ Details

INVESTMENT IN TERMINAL JOINT VENTURE (Tables)

12 Months Ended

Dec. 31, 2012

INVESTMENT IN TERMINAL JOINT VENTURE

Schedule of financial information for the Company's equity method investment

Operating results include the Company’s proportionate share of net income from SSAT. A summary of financial information for SSAT at December 31 is as follows (in millions):

	2012		2011

Current assets	$	90.8	$	90.0
Noncurrent assets	139.2		118.7
Total assets	$	230.0	$	208.7

Current liabilities	$	55.9	$	41.3
Noncurrent liabilities	14.7		17.3
Total liabilities	$	70.6	$	58.6

	Year Ended December 31,
	2012			2011		2010
Operating revenue	$	503.9		$	578.6	$	568.5
Operating costs and expenses	506.4			571.7		548.1
Operating (loss) income	$	(2.5	)	$	6.9	$	20.4
Income from continuing operations*	$	9.5		$	26.3	$	35.9
Net income	$	9.5		$	26.3	$	35.9

Company’s share of net income	$	3.2		$	8.6	$	12.8

* 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, 2012

PROPERTY

Schedule of property on the consolidated balance sheets

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

	As of December 31, 2012
	Cost		Accumulated Depreciation and Amortization			Net Book Value

Vessels	$	1,249.1	$	(679.4	)	$	569.7
Containers and equipment	468.5		(300.1		)	168.4
Terminal facilities and other property	38.5		(28.8		)	9.7
Construction in progress	14.7		—			14.7
Total	$	1,770.8	$	(1,008.3	)	$	762.5

	As of December 31, 2011
	Cost		Accumulated Depreciation and Amortization			Net Book Value

Vessels	$	1,225.8	$	(639.3	)	$	586.5
Containers and equipment	481.3		(294.8		)	186.5
Terminal facilities and other property	37.9		(26.1		)	11.8
Construction in progress	15.7		—			15.7
Total	$	1,760.7	$	(960.2	)	$	800.5

Schedule of depreciation expense

	Year Ended December 31,
	2012	2011	2010
Depreciation Expense	70.6	69.4	68.1

- 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, 2012

NOTES PAYABLE AND LONG-TERM DEBT

Schedule of notes payable and long-term debt

At December 31, 2012 and 2011, notes payable and long-term debt consisted of the following (in millions):

	2012			2011

Term Loans:
5.79%, payable through 2020	$	52.5		$	59.5
3.66%, payable through 2023	77.5			—
4.16%, payable through 2027	55.0			—
4.31%, payable through 2032	37.5			—
Title XI Bonds:
5.34%, payable through 2028	35.2			37.4
5.27%, payable through 2029	37.4			39.6

Revolving Credit loans (1.69% for 2012 and 1.29% for 2011)	24.0			61.0
	319.1			197.5
Less current portion	(16.4		)	(17.5		)
Total long-term debt	$	302.7		$	180.0

Schedule of maturities of long-term debt

At December 31, 2012, debt maturities during the next five years and thereafter are as follows (in millions):

2013	$	16.4
2014	30.4
2015	20.5
2016	20.5
2017	28.2
Thereafter	203.1
Total	$	319.1

- 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 835

-SubTopic 30

-Section 55

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 11: 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

+ Details

LEASES (Tables)

12 Months Ended

Dec. 31, 2012

LEASES

Schedule of future minimum payments under operating leases

Future minimum payments under operating leases as of December 31, 2012 were as follows (in millions):

	Total
	Operating
	Leases

2013	$	18.3
2014	16.1
2015	13.4
2016	9.5
2017	6.0
Thereafter	5.3
Total minimum lease payments	$	68.6

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References+ Details

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2012

EMPLOYEE BENEFIT PLANS

Schedule of the Company's weighted-average asset allocations and year-end target allocation, by asset category

	Target		2012		2011

Domestic equity securities	53	%	56	%	59	%
International equity securities	15	%	14	%	14	%
Debt securities	22	%	19	%	17	%
Real estate	10	%	5	%	6	%
Other and cash	—		6	%	4	%
Total	100	%	100	%	100	%

Schedule of the fair values of the Company's pension plan assets, by asset category

The fair values of the Company’s pension plan assets at December 31, 2012 and 2011, by asset category, are as follows (in millions):

	Fair Value Measurements at
	December 31, 2012
Asset Category	Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	8.3	$	8.3	$	—	$	—
Equity securities:
U.S. large-cap	53.8		53.8		—		—
U.S. mid- and small-cap	29.8		29.8		—		—
International large-cap	16.7		16.7		—		—
International small-cap	4.3		4.3		—		—
Fixed income securities:
U.S. Treasuries	0.8		—		0.8		—
Municipal bonds	0.2		—		0.2		—
Investment grade U.S. corporate bonds	2.0		—		2.0		—
High-yield U.S. corporate bonds	6.4		—		6.4		—
Emerging markets fixed income	4.3		4.3		—		—
Mortgage-backed securities	14.0		—		14.0		—
Other types of investments:
Real estate partnership interests	7.8		—		—		7.8
Private equity partnership interests (a)	0.8		—		—		0.8
Insurance contracts	—		—		—		—
Total	$	149.2	$	117.2	$	23.4	$	8.6

	Fair Value Measurements at
	December 31, 2011
Asset Category	Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	5.1	$	5.1	$	—	$	—
Equity securities:
U.S. large-cap	50.2		50.2		—		—
U.S. mid- and small-cap	15.6		15.6		—		—
International large-cap	13.6		13.6		—		—
International mid-cap	11.2		11.2		—		—
Fixed income securities:
U.S. Treasuries	0.3		—		0.3		—
Municipal bonds	0.1		—		0.1		—
Investment grade U.S. corporate bonds	1.5		—		1.5		—
High-yield U.S. corporate bonds	4.7		—		4.7		—
Mortgage-backed securities	15.1		—		15.1		—
Other types of investments:
Real estate partnership interests	7.1		—		—		7.1
Private equity partnership interests (a)	0.8		—		—		0.8
Insurance contracts	0.7		—		—		0.7
Total	$	126.0	$	95.7	$	21.7	$	8.6

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

Reconciliation of all pension plan investments measured at fair value on a recurring basis using significant unobservable inputs (level 3)

	Fair Value Measurements Using Significant
	Unobservable Inputs (Level 3)
	Real Estate			Private Equity			Insurance			Total
Beginning balance, December 31, 2010	$	6.3		$	0.9		$	0.5		$	7.7
Actual return (loss) on plan assets:
Assets held at the reporting date	0.9			0.1			—			1.0
Assets sold during the period	0.2			—			—			0.2
Purchases, sales and settlements, net	(0.3		)	(0.2		)	0.2			(0.3		)
Beginning balance, December 31, 2011	7.1			0.8			0.7			8.6
Actual return (loss) on plan assets:
Assets held at the reporting date	1.6			0.1			—			1.7
Assets sold during the period	(0.2		)	0.3			—			0.1
Purchases, sales and settlements, net	(0.7		)	(0.4		)	(0.7		)	(1.8		)
Ending balance, December 31, 2012	$	7.8		$	0.8		$	—		$	8.6

Schedule of status of the funded defined benefit pension plan and the unfunded accumulated post-retirement benefit plans

The status of the funded qualified defined benefit pension plans and the unfunded post-retirement benefit plans at December 31, 2012 and 2011 are shown below (in millions):

	Pension Benefits						Other Post-retirement Benefits
	2012			2011			2012			2011

Change in Benefit Obligation
Benefit obligation at beginning of year	$	192.6		$	189.8		$	48.5		$	51.8
Service cost	2.7			5.4			1.0			0.9
Interest cost	9.0			10.7			2.3			3.0
Plan participants’ contributions	—			—			1.3			1.2
Actuarial (gain) loss	14.9			20.7			(0.6		)	(4.7		)
Benefits paid	(9.1		)	(9.2		)	(3.3		)	(3.7		)
Amendments/Curtailments	—			(24.8		)	—			—
Benefit obligation at end of year	$	210.1		$	192.6		$	49.2		$	48.5

Change in Plan Assets
Fair value of plan assets at beginning of year	$	126.0		$	137.9		$	—		$	—
Actual return on plan assets	19.0			(7.1		)	—			—
Employer contributions	13.3			4.4			—			—
Benefits paid	(9.1		)	(9.2		)	—			—
Fair value of plan assets at end of year	149.2			126.0			—			—
Funded Status and Recognized Liability	$	(60.9	)	$	(66.6	)	$	(49.2	)	$	(48.5	)

Schedule of 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, 2012 and 2011 were as follows (in millions):

	Pension Benefits						Other Post-retirement Benefits
	2012			2011			2012			2011

Current liabilities	$	—		$	—		$	(2.1	)	$	(2.1	)
Non-current liabilities	(60.9		)	(66.6		)	(47.1		)	(46.4		)
Total	$	(60.9	)	$	(66.6	)	$	(49.2	)	$	(48.5	)

Net loss (gain) (net of taxes)	$	55.8		$	56.1		$	0.7		$	0.6
Prior service cost (net of taxes)	(13.4		)	(14.8		)	0.1			0.1
Total	$	42.4		$	41.3		$	0.8		$	0.7

Schedule of information for qualified pension plans with an 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, 2012 and 2011 is shown below (in millions):

	2012		2011
Projected benefit obligation	$	210.1	$	192.6
Accumulated benefit obligation	$	209.6	$	191.9
Fair value of plan assets	$	149.2	$	126.0

Schedule of 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

	Pension Benefits									Other Post-retirement Benefits
	2012			2011			2010			2012			2011			2010
Components of Net Periodic Benefit Cost
Service cost	$	2.7		$	5.4		$	4.6		$	1.0		$	0.9		$	0.7
Interest cost	9.0			10.7			10.3			2.3			3.0			2.6
Expected return on plan assets	(10.7		)	(11.1		)	(9.7		)	—			—			—
Amortization of net loss (gain)	7.0			4.0			3.5			0.6			1.9			0.4
Amortization of prior service cost	(2.3		)	0.1			0.1			0.1			0.2			0.2
Recognition of loss due to settlement	—			—			—			—			—			—
Net periodic benefit cost	$	5.7		$	9.1		$	8.8		$	4.0		$	6.0		$	3.9

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax)
Net loss (gain)	$	4.0		$	23.8		$	3.6		$	(0.4	)	$	(2.5	)	$	3.9
Amortization of unrecognized (loss) gain	(4.2		)	(2.4		)	(2.1		)	(0.3		)	(1.0		)	(0.2		)
Prior service (credit) cost	—			(15.1		)	—			—			—			—
Amortization of prior service cost	1.4			(0.1		)	(0.1		)	—			(0.1		)	(0.1		)
Total recognized in other comprehensive income	1.2			6.2			1.4			(0.7		)	(3.6		)	3.6
Total recognized in net periodic benefit cost and other comprehensive income	$	6.9		$	15.3		$	10.2		$	3.3		$	2.4		$	7.5

Schedule of weighted average assumptions used to determine benefit information

	Pension Benefits						Other Post-retirement Benefits
	2012		2011		2010		2012		2011		2010
Weighted Average Assumptions:
Discount rate	4.2	%	4.8	%	5.8	%	4.3	%	4.9	%	5.8	%
Expected return on plan assets	8.3	%	8.3	%	8.3	%
Rate of compensation increase	3.0	%	4.0	%	4.0	%	3.0	%	4.0	%	4.0	%
Initial health care cost trend rate							8.0	%	9.0	%	10.0	%
Ultimate rate							4.5	%	5.0	%	5.0	%
Year ultimate rate is reached							2020		2016		2016

Schedule of effect of one percentage point increase or decrease in assumed health care cost trend rate on accumulated post-retirement benefit obligation and net periodic post-retirement benefit cost

	Other Post-retirement Benefits
	One Percentage Point
	Increase						Decrease
	2012		2011		2010		2012			2011			2010

Effect on total of service and interest cost components	$	0.6	$	0.6	$	0.5	$	(0.4	)	$	(0.5	)	$	(0.4	)
Effect on post-retirement benefit obligation	$	6.5	$	6.6	$	7.1	$	(5.2	)	$	(5.3	)	$	(5.7	)

Schedule of estimated future benefit payments

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

	Qualified
	Pension		Non-qualified		Post-retirement
Year	Benefits		Pension Benefits		Benefits (1)

2013	$	10.5	$	0.8	$	2.2
2014	11.0		3.3		2.3
2015	11.4		0.6		2.4
2016	11.7		0.8		2.4
2017	12.0		0.2		2.5
2018-2022	$	64.2	$	1.6	$	13.0

(1) Net of plan participants’ contributions and Medicare D subsidies.

Schedule of information regarding the entity's participation in the multiemployer pension 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

FIP/RP
Status

Contributions of Matson

Expiration
Date of
Collective

EIN/Pension

31,

Pending/

($ in millions)

Surcharge

Bargaining

Pension Fund

Plan Number

2012

2011

Implemented

2012

2011

2010

Imposed

Agreement

Hawaii Stevedoring Multiemployer Retirement Plan

99-0314293/001

Yellow

Implemented

2.4

2.2

2.0

6/30/2014

Master, Mates and Pilots

13-6372630/001

Green

None

3.4

3.0

2.9

8/15/2023, 8/15/2018

Hawaii Terminals Multiemployer Pension Plan

20-0389370/001

Yellow

Implemented

5.1

5.2

6/30/2014

MEBA Pension Trust

51-6029896/001

Green

None

2.1

—

8/15/2018

OCU Trust Pension

26-1574440/001

Green

None

0.1

6/30/2013

Other Plans

Green

—

Total

13.1

10.5

10.2

Schedule of years contributions to plan exceeded more than 5 percent of total contributions

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		Exceeded More than 5 Percent of Total Contributions (as of December 31 of the Plan’s Year- End)
Hawaii Stevedoring Multiemployer Pension Plan		2012, 2011 and 2010
Hawaii Terminals Multiemployer Pension Plan		2012, 2011 and 2010
Masters, Mates and Pilots Pension Plan*		2011 and 2010

* As of the date the financial statements were issued, Form 5500s were not available for the plan years ending in 2012 for this and other plans.

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

INCOME TAXES

Schedule of income tax expense on income from continuing operations

The income tax expense on income from continuing operations for each of the three years in the period ended December 31, 2012 consisted of the following (in millions):

	2012			2011			2010
Current:
Federal	$	38.9		$	26.5		$	38.1
State	3.2			1.8			5.4
Total	42.1			28.3			43.5
Deferred	(9.1		)	(3.2		)	3.2
Provision for income taxes	$	33.0		$	25.1		$	46.7

Schedule of reasons why income tax expense differs from amounts computed by applying the statutory federal rate to income from continuing operations

	2012			2011			2010

Computed federal income tax expense	$	29.7		$	24.9		$	41.2
State income taxes	0.5			1.4			5.0
Deferred tax adjustment	(1.4		)	—			—
Separation costs	1.7			—			—
Unrecognized tax benefit	1.5			—			—
Other — net	1.0			(1.2		)	0.5
Provision for income taxes	$	33.0		$	25.1		$	46.7

Schedule of tax effects of temporary differences that give rise to significant portions of the 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):

	2012		2011
Deferred tax assets:
Benefit plans	$	54.0	$	52.5
Insurance reserves	9.7		7.8
Allowance for doubtful accounts	1.7		1.9
Reserves	1.7		2.5
Other	0.3		1.9
Total deferred tax assets	67.4		66.6

Deferred tax liabilities:
Basis differences for property and equipment	292.6		301.1
Capital Construction Fund	3.3		3.3
Joint ventures and other investments	3.8		6.0
Deferred revenue	10.9		8.0
Amortization	2.1		2.0
Total deferred tax liabilities	312.7		320.4

Net deferred tax liability	$	245.3	$	253.8

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 December 31, 2009	$	2.7
Additions for tax positions of prior years	—
Additions for tax positions of current year	1.1
Reductions for tax positions of prior years	(0.3		)
Reductions for lapse of statute of limitations	—
Balance at December 31, 2010	3.5
Additions for tax positions of prior years	0.3
Reductions for tax positions of current year	(0.5		)
Reductions for tax positions of prior years	—
Reductions for lapse of statute of limitations	(0.7		)
Balance at December 31, 2011	2.6
Additions for tax positions of prior years	4.0
Additions for tax positions of current year	3.7
Reductions for tax positions of prior years	(1.0		)
Reductions for lapse of statute of limitations	(1.0		)
Balance at December 31, 2012	$	8.3

SHARE-BASED AWARDS (Tables)

12 Months Ended

Dec. 31, 2012

SHARE-BASED AWARDS

Valuation Assumptions

The weighted average grant-date fair values, prior to the Separation, of the options granted during 2012, 2011, and 2010 were $10.74, $8.92, and $6.59, respectively, per option. No options were granted after the Separation, therefore all weighted average assumptions provided in the table below are prior to the Separation:

	2012		2011		2010

Expected volatility	31.8	%	29.2	%	28.8	%
Expected term (in years)	6.1		6.0		5.8
Risk-free interest rate	1.2	%	2.3	%	2.7	%
Dividend yield	2.7	%	3.1	%	3.8	%

Stock Option Activity

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

Outstanding, January 1, 2012	1,329		572		195		2,096		$	20.11
Granted	111		—		—		111		$	23.74
Exercised	(448	)	(190	)	(49	)	(687	)	$	17.57
Forfeited and expired	(38	)	(129	)	—		(167	)	$	24.62
Outstanding, December 31, 2012	954		253		146		1,353		$	21.15	5.6	$	4,794

Exercisable, December 31, 2012	512		253		146		911		$	21.40	4.5	$	3,071

Non-Vested Restricted Stock Unit Activity

	2007
	Plan		Weighted
	Restricted		Average
	Stock		Grant-Date
	Units		Fair Value

Outstanding, January 1, 2012	394		$	18.45
Granted	226		$	17.46
Vested	(155	)	$	16.58
Canceled	(109	)	$	20.62
Outstanding, December 31, 2012	356		$	17.97

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

A summary of compensation cost related to share-based payments, exclusive of A&B related compensation prior to the Separation, is as follows (in millions):

	2012			2011			2010
Share-based expense (net of estimated forfeitures):
Stock options	$	0.9		$	0.8		$	0.7
Non-vested stock and restricted stock units	3.1			1.9			1.8
Total share-based expense	$	4.0		$	2.7		$	2.5
Total recognized tax benefit	(1.6		)	(0.9		)	(0.8		)
Share-based expense (net of tax)	$	2.4		$	1.8		$	1.7

Cash received by Matson upon option exercise	$	3.5		$	2.0		$	0.4
Intrinsic value of options exercised	$	5.2		$	1.1		$	0.2
Tax benefit realized upon option exercise	$	1.5		$	0.4		$	0.1
Fair value of stock vested	$	3.8		$	2.5		$	1.2

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2012

COMMITMENTS AND CONTINGENCIES

Commitments and financial arrangements, excluding lease commitments

Commitments and financial arrangements, excluding lease commitments that are described in Note 7, included the following as of December 31, 2012 (in millions):

Standby letters of credit	(a)	$	6.8
Bonds	(b)	$	14.2
Benefit plan withdrawal obligations	(c)	$	102.1

(b) Consists of approximately $13.0 million in U.S. Customs bonds, and approximately $1.2 million related to transportation and other matters.

- 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 Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14326-108349

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14453-108349

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14394-108349

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14472-108349

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12021-110248

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12053-110248

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14557-108349

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14615-108349

Reference 10: 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.

+ Details

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2012

RELATED PARTY TRANSACTIONS

Schedule of related party transactions

The amounts of these related party transactions are as follows (in millions):

	Years Ended December 31,
	2012			2011			2010
Vessel management services income	$	2.0		$	4.0		$	3.8
Lease expense to A&B	(2.1		)	(4.4		)	(3.8		)
Equipment and repair services expense and other	(1.4		)	(2.7		)	(2.7)
Related party expense, net	$	(1.5	)	$	(3.1	)	$	(2.7)

REPORTABLE SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2012

REPORTABLE SEGMENTS

Reportable Segment Information

Reportable segment information for 2012, 2011, and 2010 is summarized below (in millions):

	For the Year Ended December 31,
	2012			2011(1)			2010(1)
Revenue:
Ocean transportation	$	1,189.8		$	1,076.2		$	1,015.0
Logistics services	370.2			386.4			355.6
Total revenue	$	1,560.0		$	1,462.6		$	1,370.6
Operating Income:
Ocean transportation(2)	$	96.6		$	73.7		$	118.3
Logistics services	0.1			4.9			7.1
Total operating income	96.7			78.6			125.4
Interest expense, net	(11.7		)	(7.7		)	(8.2		)
Income from continuing operations before income taxes	85.0			70.9			117.2
Income taxes	33.0			25.1			46.7
Income from continuing operations	52.0			45.8			70.5
Discontinued operations	(6.1		)	(11.6		)	21.6
Net income	$	45.9		$	34.2		$	92.1

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

(2) The ocean transportation segment includes approximately $3.2 million, $8.6 million, and $12.8 million of equity in earnings from its investment in SSAT for 2012, 2011, and 2010, respectively.

	As of December 31,
As of December 31:	2012		2011		2010
Identifiable Assets:
Ocean transportation(3)	$	1,097.2	$	1,083.9	$	1,084.7
Logistics(4)	77.1		76.4		73.8
Other(5)	—		1,384.0		1,336.1
Total assets	$	1,174.3	$	2,544.3	$	2,494.6
Capital Expenditures:
Ocean transportation	$	37.0	$	44.2	$	69.4
Logistics(6)	1.1		3.0		1.8
Total capital expenditures	$	38.1	$	47.2	$	71.2
Depreciation and Amortization from Continuing Operations:
Ocean transportation	$	69.1	$	68.4	$	67.6
Logistics	3.4		3.2		3.2
Total depreciation and amortization	$	72.5	$	71.6	$	70.8

(3) The ocean transportation segment includes approximately $59.6 million, $56.5 million, and $52.9 million related to its investment in SSAT as of December 31, 2012, 2011, and 2010, respectively.

(4) Include goodwill of $27.0 million as of December 31, 2012, 2011, and 2010.

(5) Includes assets related to discontinued operations from A&B and CLX2 of $1.4 billion and $1.3 billion as of December 31, 2011 and 2010, respectively.

- 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, 2012

QUARTERLY INFORMATION (Unaudited)

Schedule of quarterly financial information

Segment results by quarter for 2012 and 2011 are listed below (in millions, except per-share amounts):

	2012
	Q1			Q2			Q3			Q4
Revenue:
Ocean transportation	$	279.5		$	299.5		$	307.1		$	303.7
Logistics	86.6			94.7			94.3			94.6
Total operating revenue	$	366.1		$	394.2		$	401.4		$	398.3
Operating Income (loss):
Ocean transportation	$	5.8		$	31.2		$	32.9		$	26.7
Logistics services	0.3			1.3			1.3			(2.8		)
Total operating income	6.1			32.5			34.2			23.9
Interest Expense	(2.0		)	(1.9		)	(4.0		)	(3.8		)
Income From Continuing Operations before Income Taxes	4.1			30.6			30.2			20.1
Income tax expense	2.1			15.3			11.2			4.4
Income From Continuing Operations	2.0			15.3			19.0			15.7
Discontinued Operations(1)	1.4			(7.5		)	0.1			(0.1		)
Net Income	$	3.4		$	7.8		$	19.1		$	15.6

Income From Continuing Operations
Earnings Per Share:
Basic	$	0.05		$	0.36		$	0.45		$	0.37
Diluted	$	0.05		$	0.36		$	0.45		$	0.37

Net Income
Earnings Per Share:
Basic	$	0.08		$	0.18		$	0.45		$	0.37
Diluted	$	0.08		$	0.18		$	0.45		$	0.36

	2011
	Q1			Q2			Q3			Q4
Revenue:
Ocean transportation	$	238.4		$	274.3		$	281.4		$	282.1
Logistics	91.3			103.1			99.2			92.8
Total operating revenue	$	329.7		$	377.4		$	380.6		$	374.9
Operating Income (loss):
Ocean transportation	$	5.2		$	27.1		$	28.9		$	12.5
Logistics services	1.5			2.1			2.0			(0.7		)
Total operating income	6.7			29.2			30.9			11.8
Interest Expense	(1.9		)	(1.9		)	(1.9		)	(2.0		)
Income From Continuing Operations before Income Taxes	4.8			27.3			29.0			9.8
Income tax expense	1.8			9.6			10.6			3.1
Income From Continuing Operations	3.0			17.7			18.4			6.7
Discontinued Operations(1)	2.2			1.0			(9.7		)	(5.1		)
Net Income	$	5.2		$	18.7		$	8.7		$	1.6

Income From Continuing Operations
Earnings Per Share:
Basic	$	0.07		$	0.42		$	0.44		$	0.16
Diluted	$	0.07		$	0.42		$	0.44		$	0.16

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

(1)See Note 2 for discussion of discontinued operations.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) In Millions, except Share data, unless otherwise specified	1 Months Ended		12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011 item	Dec. 31, 2012 item	Jun. 29, 2012
Description of Business
Number of vessels owned			17
Separation costs			$ 8.6
SSAT \| Ocean Transportation
Description of Business
Ownership interest in SSAT (as a percent)			35.00%
Number of terminal facilities on which SSAT provides terminal and stevedoring services to Matnav and numerous international carriers			6
Alexander & Baldwin
Description of Business
Number of publicly traded companies to be created after separation		2
Jones Act requirement to maintain status as U.S. citizen, maximum ownership interest permitted by non-U.S. citizens (as a percent)			22.00%
Number of shares of common stock of A&B received for each share upon separation				1
Maximum period during which services are to be provided under Transition Services Agreement	24 months
Capital contribution to A&B			155.7
Separation costs			8.6
Capitalized debt financing costs			1.9
Total cash outflow related to the Separation			$ 166.2
Number of cash outflow components			3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash and Cash Equivalents
Outstanding checks in excess of funds on deposits	$ 19.6	$ 10.7
Allowance for doubtful accounts
Balance at Beginning of year	5.3	6.1	8.1
Expense	0.7
Write-offs and Other	(1.3)	(0.8)	(2.0)
Balance at End of Year	4.7	5.3	6.1
Quoted Prices in Active Markets (Level 1)
Fair value of financial instruments
Cash & cash equivalents	19.9	9.8
Significant Observable Inputs (Level 2)
Fair value of financial instruments
Accounts and notes receivable	174.7	167.7
Variable rate debt	24.0	61.0
Fixed rate debt	316.8	148.1
Carrying value
Fair value of financial instruments
Cash & cash equivalents	19.9	9.8
Accounts and notes receivable	174.7	167.7
Variable rate debt	24.0	61.0
Fixed rate debt	295.1	136.5
Fair value
Fair value of financial instruments
Cash & cash equivalents	19.9	9.8
Accounts and notes receivable	174.7	167.7
Variable rate debt	24.0	61.0
Fixed rate debt	$ 316.8	$ 148.1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $) In Millions, unless otherwise specified	12 Months Ended			3 Months Ended	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012 Change in useful life of the vessels Adjustment	Dec. 31, 2012 Vessels Minimum	Dec. 31, 2012 Vessels Maximum	Dec. 31, 2012 Machinery and equipment Minimum	Dec. 31, 2012 Machinery and equipment Maximum	Dec. 31, 2012 Terminal Facilities Minimum	Dec. 31, 2012 Terminal Facilities Maximum
Dry-docking
Dry-dock interval, minimum	2 years
Dry-dock interval, maximum	5 years
Depreciation
Useful life					10 years	40 years	2 years	20 years	3 years	35 years
Depreciation Expense	$ 70.6	$ 69.4	$ 68.1	$ (1.1)

- Definition

The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.

+ References+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 27.0	$ 27.0
Balance at the end of the period	27.0	27.0	27.0
Intangible assets
Gross Carrying Amount	15.6	15.6
Impairment on long lived intangible assets	(2.1)
Accumulated Amortization	(9.6)	(8.9)
Aggregate intangible asset amortization	0.7	0.9	1.3
Estimated amortization expenses related to intangibles
2013	0.7
2014	0.7
2015	0.7
2016	0.7
2017	0.7
Thereafter	0.4
Total	3.9
Customer lists
Intangible assets
Gross Carrying Amount	11.8	11.8
Impairment on long lived intangible assets	(2.1)
Accumulated Amortization	(6.2)	(5.6)
Other
Intangible assets
Gross Carrying Amount	3.8	3.8
Accumulated Amortization	$ (3.4)	$ (3.3)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net Income
Net income from continuing operations	$ 15.7	$ 19.0	$ 15.3	$ 2.0	$ 6.7	$ 18.4	$ 17.7	$ 3.0	$ 52.0	$ 45.8	$ 70.5
(Loss) income from discontinued operations	(0.1)	0.1	(7.5)	1.4	(5.1)	(9.7)	1.0	2.2	(6.1)	(11.6)	21.6
Net Income	15.6	19.1	7.8	3.4	1.6	8.7	18.7	5.2	45.9	34.2	92.1
Weighted Average Common Shares
Income From Continuing Operations, Basic (in shares)									42.3	41.6	41.2
(Loss) income from discontinued operations, Basic (in shares)									42.3	41.6	41.2
Effect of Dilutive Securities (in shares)									0.4	0.4	0.3
Income From Continuing Operations, Diluted (in shares)									42.7	42.0	41.5
(Loss) income from discontinued operations, Diluted (in shares)									42.7	42.0	41.5
Per Common Share Amount, Basic
Income from continuing operations (in dollars per share)	$ 0.37	$ 0.45	$ 0.36	$ 0.05	$ 0.16	$ 0.44	$ 0.42	$ 0.07	$ 1.23	$ 1.10	$ 1.71
(Loss) income from discontinued operations (in dollars per share)									$ (0.14)	$ (0.28)	$ 0.52
Net income (in dollars per share)	$ 0.37	$ 0.45	$ 0.18	$ 0.08	$ 0.04	$ 0.21	$ 0.45	$ 0.12	$ 1.09	$ 0.82	$ 2.23
Per Common Share Amount, Diluted
Income from continuing operations (in dollars per share)	$ 0.37	$ 0.45	$ 0.36	$ 0.05	$ 0.16	$ 0.44	$ 0.42	$ 0.07	$ 1.22	$ 1.09	$ 1.70
(Loss) income from discontinued operations (in dollars per share)									$ (0.14)	$ (0.28)	$ 0.52
Net income (in dollars per share)	$ 0.36	$ 0.45	$ 0.18	$ 0.08	$ 0.04	$ 0.21	$ 0.44	$ 0.12	$ 1.08	$ 0.81	$ 2.22
Income Taxes
Increase in income taxes									$ 1.7
Stock options
Earnings Per Share ("EPS")
Antidilutive securities excluded from computation of earnings per share									0.5	1.4	1.6

DISCONTINUED OPERATIONS (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended												3 Months Ended	12 Months Ended				12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012 Container and charter liabilities	Dec. 31, 2011 Container and charter liabilities	Dec. 31, 2012 Other contractual liabilities	Dec. 31, 2011 Other contractual liabilities	Dec. 31, 2012 CLX2 Service	Dec. 31, 2011 CLX2 Service	Dec. 31, 2010 CLX2 Service	Sep. 30, 2011 CLX2 Service item	Jul. 31, 2012 CLX2 Service Container and charter liabilities item	Sep. 30, 2011 CLX2 Service Other contractual liabilities item	Dec. 31, 2012 A&B	Dec. 31, 2011 A&B	Dec. 31, 2010 A&B	Jun. 29, 2012 A&B	Dec. 31, 2012 A&B Continuing operations	Dec. 31, 2011 A&B Continuing operations	Dec. 31, 2010 A&B Continuing operations	Dec. 31, 2012 A&B Discontinued operations	Dec. 31, 2011 A&B Discontinued operations	Dec. 31, 2010 A&B Discontinued operations
Accounting for and Classification of Discontinued Operations
Number of shares of common stock of A&B received for each share upon separation																									1
Number of vessels used in discontinued operation																			5
Number of vessels expected to be sub-chartered																				2
Number of vessels returned to lessors																					3
Duration of charter contracts																					1 year
Fair value of the obligations arising from exit activities																	$ 4.9
Income (losses) from discontinued operations
Income																	92.7	28.6				116.4	274.7	276.3
Expenses																(4.4)	(149.4)	(47.9)				(118.1)	(243.5)	(244.6)
Tax (expense) benefit																1.6	21.1	7.2				(1.6)	(7.2)	2.0
Net (loss) income from A&B																						(3.3)	24.0	33.7		(4.0)	8.4	(0.4)	2.4	14.3	34.1
(Loss) income from discontinued operations (net of tax)	(0.1)	0.1	(7.5)	1.4	(5.1)	(9.7)	1.0	2.2	(6.1)	(11.6)	21.6
Liabilities of Disposal Group (Including Discontinued Operation)
Balance, beginning of period				4.9					4.9			4.8		0.1
Expenses incurred	4.5				12.5				4.5	12.5		4.5	11.8		0.7
Amounts paid									(9.4)	(7.6)		(9.3)	(7.0)	(0.1)	(0.6)
Balance, end of period					$ 4.9					$ 4.9			$ 4.8		$ 0.1

INVESTMENT IN TERMINAL JOINT VENTURE (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Financial information for equity method investment
Current assets	$ 90.8	$ 90.0
Noncurrent assets	139.2	118.7
Total assets	230.0	208.7
Current liabilities	55.9	41.3
Noncurrent liabilities	14.7	17.3
Total liabilities	70.6	58.6
Operating revenue	503.9	578.6	568.5
Operating costs and expenses	506.4	571.7	548.1
Operating (loss) income	(2.5)	6.9	20.4
Income from continuing operations	9.5	26.3	35.9
Net income	9.5	26.3	35.9
Investments in affiliates
Company's share of net income	3.2	8.6	12.8
Dividends from the unconsolidated terminal venture		5.3	7.0
Ocean Transportation
Investments in affiliates
Cost of services from transactions with unconsolidated affiliate	163.8	175.2	157.3
SSAT \| Ocean Transportation
Investments in affiliates
Ownership interest in SSAT (as a percent)	35.00%
Number of terminal facilities on which SSAT provides terminal and stevedoring services to Matnav and numerous international carriers	6
Cost of services from transactions with unconsolidated affiliate	163.8	175.2	157.3
Company's share of net income	$ 3.2	$ 8.6	$ 12.8

PROPERTY (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Property
Cost	$ 1,770.8	$ 1,760.7
Accumulated Depreciation and Amortization	(1,008.3)	(960.2)
Property - net	762.5	800.5
Depreciation Expense	70.6	69.4	68.1
Vessels
Property
Cost	1,249.1	1,225.8
Accumulated Depreciation and Amortization	(679.4)	(639.3)
Property - net	569.7	586.5
Containers and equipment
Property
Cost	468.5	481.3
Accumulated Depreciation and Amortization	(300.1)	(294.8)
Property - net	168.4	186.5
Terminal facilities and other property
Property
Cost	38.5	37.9
Accumulated Depreciation and Amortization	(28.8)	(26.1)
Property - net	9.7	11.8
Construction in progress
Property
Cost	14.7	15.7
Property - net	$ 14.7	$ 15.7

- 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

+ References+ Details

- Definition

Gross amount of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.

+ References+ Details

- Definition

Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.

+ References+ Details

CAPITAL CONSTRUCTION FUND (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
CAPITAL CONSTRUCTION FUND
Maximum period to commit fund deposits for qualified purposes	25 years
Period over which deposits will be treated as non-qualified withdrawals	5 years
Accrued withdrawal from the CCF	$ 4.4	$ 4.4
Accrued deposits to the CCF	4.4	4.4
Net balance of amounts accrued for CCF	$ 0	$ 0

NOTES PAYABLE AND LONG-TERM DEBT (Details) (USD $) In Millions, unless otherwise specified								1 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended		1 Months Ended				12 Months Ended					3 Months Ended		12 Months Ended		3 Months Ended			3 Months Ended		3 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012 5.79%, payable through 2020	Dec. 31, 2011 5.79%, payable through 2020	Dec. 31, 2012 3.66%, payable through 2023	Dec. 31, 2012 4.16%, payable through 2027	Dec. 31, 2012 4.31%, payable through 2032	Sep. 30, 2003 5.34% payable through 2028	Dec. 31, 2012 5.34% payable through 2028 item	Dec. 31, 2011 5.34% payable through 2028	Aug. 31, 2004 5.27% payable through 2029	Dec. 31, 2012 5.27% payable through 2029 item	Dec. 31, 2011 5.27% payable through 2029	May 31, 2005 4.79% payable (Series B Notes)	Dec. 31, 2012 4.79% payable (Series B Notes) item	Dec. 31, 2012 4.79% payable (Series B Notes) MatNav	Jun. 30, 2012 Revolving Credit Facility	Dec. 31, 2012 Revolving Credit Facility	Dec. 31, 2011 Revolving Credit Facility	Jun. 30, 2012 Revolving Credit Facility MatNav	Dec. 31, 2012 Revolving Credit Facility Alexander & Baldwin	Dec. 31, 2011 Revolving Credit Facility Alexander & Baldwin	Dec. 31, 2010 Revolving Credit Facility Alexander & Baldwin	Aug. 31, 2011 Revolving Credit Facility Alexander & Baldwin	Jul. 31, 2006 Senior Secured Reducing Revolving Credit Facility	Jun. 30, 2012 Unsecured revolving credit facility	Dec. 31, 2012 Unsecured revolving credit facility	Dec. 31, 2012 Unsecured revolving credit facility Minimum	Dec. 31, 2012 Unsecured revolving credit facility Maximum	Jun. 30, 2012 Unsecured debt item	Jun. 30, 2012 Unsecured debt, tranche maturing in 2023	Dec. 31, 2012 Unsecured debt, tranche maturing in 2023	Jun. 30, 2012 Unsecured debt, tranche maturing in 2027	Dec. 31, 2012 Unsecured debt, tranche maturing in 2027	Jun. 30, 2012 Unsecured debt, tranche maturing in 2032	Dec. 31, 2012 Unsecured debt, tranche maturing in 2032	Jun. 30, 2012 Secured debt	Dec. 31, 2012 Secured debt MatNav
Debt
Long-term debt	$ 319.1	$ 197.5	$ 52.5	$ 59.5	$ 77.5	$ 55.0	$ 37.5		$ 35.2	$ 37.4		$ 37.4	$ 39.6			$ 56.0		$ 24.0	$ 61.0													$ 77.5		$ 55.0		$ 37.5
Less current portion	(16.4)	(17.5)
Total long-term debt	302.7	180.0
Debt issued								55.0			55.0			105.0																170.0	77.5		55.0		37.5
Interest rate (as a percent)			5.79%	5.79%	3.66%	4.16%	4.31%	5.34%	5.34%	5.34%	5.27%	5.27%	5.27%	4.79%				1.69%	1.29%												3.66%		4.16%		4.31%
Number of semi-annual payments									50			50			30
Semi-annual payments									1.1			1.1			3.5
Debt instrument term															15 years
Maximum borrowing capacity																								125.0	105.0	375.0
Interest rate, minimum (as a percent)																					1.21%	0.44%	0.49%
Interest rate, maximum (as a percent)																					1.92%	1.91%	1.34%
Extinguishment of debt																	72
Outstanding amount																				72
Credit facility term																										5 years
Current borrowing capacity																									70.0		30.8
Cash borrowings																											24.0
Letters of credit																											6.8
Number of tranches																														3
Weighted average interest rate (as a percent)																														3.97%
Weighted average period																														9 years 3 months 18 days
Release of MV Manulani as security for debt																																					56.0	72.6
Debt covenant, required ratio of debt to consolidated EBITDA																													3.25
Ratio of consolidated EBITDA to interest expense																												3.50
Debt covenant, required principal amount of priority debt as a percentage of consolidated tangible assets																													20.00%
Debt covenant, required principal amount of priority debt (excluding Title XI) as a percentage of consolidated tangible assets																													10.00%
Long-term debt maturities
2013	16.4
2014	30.4
2015	20.5
2016	20.5
2017	28.2
Thereafter	203.1
Total	$ 319.1	$ 197.5	$ 52.5	$ 59.5	$ 77.5	$ 55.0	$ 37.5		$ 35.2	$ 37.4		$ 37.4	$ 39.6			$ 56.0		$ 24.0	$ 61.0													$ 77.5		$ 55.0		$ 37.5

LEASES (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Leases
Rent expense	$ 52.3	$ 49.6	$ 39.8
Rent expenses for short-term and cancelable equipment	17.8	38.4	28.2
Future minimum payments under operating leases
2013	18.3
2014	16.1
2015	13.4
2016	9.5
2017	6.0
Thereafter	5.3
Total minimum lease payments	68.6
Minimum
Leases
Term of existing operating leases	1 year
Maximum
Leases
Term of existing operating leases	50 years
Terminal Facility
Leases
Rent expense	$ 31.7	$ 26.5	$ 21.4

EMPLOYEE BENEFIT PLANS (Details)	12 Months Ended
EMPLOYEE BENEFIT PLANS (Details)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
EMPLOYEE BENEFIT PLANS
Single Employer Defined Benefit Plan Funded Number	2
Employee benefit plans
Target allocation (as a percent)	100.00%
Weighted-average asset allocations (as a percent)	100.00%	100.00%
Pension Benefits
Employee benefit plans
One year returns (losses) on plan assets (as a percent)	15.20%
Three year returns (losses) on plan assets (as a percent)	8.40%
Five year returns (losses) on plan assets (as a percent)	(0.10%)
Long-term average return on plan assets since inception (as a percent)	8.30%
Expected long-term rate of return plan assets (as a percent)	8.30%	8.30%	8.30%	8.50%
Pension Benefits \| Domestic equity securities
Employee benefit plans
Target allocation (as a percent)	53.00%
Weighted-average asset allocations (as a percent)	56.00%	59.00%
Pension Benefits \| International equity securities
Employee benefit plans
Target allocation (as a percent)	15.00%
Weighted-average asset allocations (as a percent)	14.00%	14.00%
Pension Benefits \| Debt securities
Employee benefit plans
Target allocation (as a percent)	22.00%
Weighted-average asset allocations (as a percent)	19.00%	17.00%
Pension Benefits \| Real estate
Employee benefit plans
Target allocation (as a percent)	10.00%
Weighted-average asset allocations (as a percent)	5.00%	6.00%
Pension Benefits \| Other and cash
Employee benefit plans
Weighted-average asset allocations (as a percent)	6.00%	4.00%

EMPLOYEE BENEFIT PLANS (Details 2) (USD $) In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Total
Fair value of plan assets, by asset category
Total	$ 149.2	$ 126.0
Quoted Prices in Active Markets (Level 1)
Fair value of plan assets, by asset category
Total	117.2	95.7
Significant Observable Inputs (Level 2)
Fair value of plan assets, by asset category
Total	23.4	21.7
Significant Unobservable Inputs
Fair value of plan assets, by asset category
Total	8.6	8.6
Pension Benefits
Fair value of plan assets, by asset category
Total	149.2	126.0	137.9
Pension Benefits \| Total \| Cash
Fair value of plan assets, by asset category
Total	8.3	5.1
Pension Benefits \| Total \| U.S. large-cap
Fair value of plan assets, by asset category
Total	53.8	50.2
Pension Benefits \| Total \| U.S. mid- and small-cap
Fair value of plan assets, by asset category
Total	29.8	15.6
Pension Benefits \| Total \| International large-cap
Fair value of plan assets, by asset category
Total	16.7	13.6
Pension Benefits \| Total \| International mid-cap
Fair value of plan assets, by asset category
Total		11.2
Pension Benefits \| Total \| International small-cap
Fair value of plan assets, by asset category
Total	4.3
Pension Benefits \| Total \| U.S. Treasuries
Fair value of plan assets, by asset category
Total	0.8	0.3
Pension Benefits \| Total \| Municipal bonds
Fair value of plan assets, by asset category
Total	0.2	0.1
Pension Benefits \| Total \| Investment grade U.S. corporate bonds
Fair value of plan assets, by asset category
Total	2.0	1.5
Pension Benefits \| Total \| High-yield U.S. corporate bonds
Fair value of plan assets, by asset category
Total	6.4	4.7
Pension Benefits \| Total \| Emerging markets fixed income
Fair value of plan assets, by asset category
Total	4.3
Pension Benefits \| Total \| Mortgage-backed securities
Fair value of plan assets, by asset category
Total	14.0	15.1
Pension Benefits \| Total \| Real estate partnerships interests
Fair value of plan assets, by asset category
Total	7.8	7.1
Pension Benefits \| Total \| Private equity partnership interests
Fair value of plan assets, by asset category
Total	0.8	0.8
Pension Benefits \| Total \| Insurance contracts
Fair value of plan assets, by asset category
Total		0.7
Pension Benefits \| Quoted Prices in Active Markets (Level 1) \| Cash
Fair value of plan assets, by asset category
Total	8.3	5.1
Pension Benefits \| Quoted Prices in Active Markets (Level 1) \| U.S. large-cap
Fair value of plan assets, by asset category
Total	53.8	50.2
Pension Benefits \| Quoted Prices in Active Markets (Level 1) \| U.S. mid- and small-cap
Fair value of plan assets, by asset category
Total	29.8	15.6
Pension Benefits \| Quoted Prices in Active Markets (Level 1) \| International large-cap
Fair value of plan assets, by asset category
Total	16.7	13.6
Pension Benefits \| Quoted Prices in Active Markets (Level 1) \| International mid-cap
Fair value of plan assets, by asset category
Total		11.2
Pension Benefits \| Quoted Prices in Active Markets (Level 1) \| International small-cap
Fair value of plan assets, by asset category
Total	4.3
Pension Benefits \| Quoted Prices in Active Markets (Level 1) \| Emerging markets fixed income
Fair value of plan assets, by asset category
Total	4.3
Pension Benefits \| Significant Observable Inputs (Level 2) \| U.S. Treasuries
Fair value of plan assets, by asset category
Total	0.8	0.3
Pension Benefits \| Significant Observable Inputs (Level 2) \| Municipal bonds
Fair value of plan assets, by asset category
Total	0.2	0.1
Pension Benefits \| Significant Observable Inputs (Level 2) \| Investment grade U.S. corporate bonds
Fair value of plan assets, by asset category
Total	2.0	1.5
Pension Benefits \| Significant Observable Inputs (Level 2) \| High-yield U.S. corporate bonds
Fair value of plan assets, by asset category
Total	6.4	4.7
Pension Benefits \| Significant Observable Inputs (Level 2) \| Mortgage-backed securities
Fair value of plan assets, by asset category
Total	14.0	15.1
Pension Benefits \| Significant Unobservable Inputs \| Real estate partnerships interests
Fair value of plan assets, by asset category
Total	7.8	7.1
Pension Benefits \| Significant Unobservable Inputs \| Private equity partnership interests
Fair value of plan assets, by asset category
Total	0.8	0.8
Pension Benefits \| Significant Unobservable Inputs \| Insurance contracts
Fair value of plan assets, by asset category
Total		$ 0.7

- 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 (Details 3) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Significant Unobservable Inputs (Level 3)
Actual return (loss) on plan assets:
Balance at the end of the period	$ 8.6	$ 8.6
Recurring basis \| Significant Unobservable Inputs (Level 3)
Changes in plan assets
Balance at the beginning of the period	8.6	7.7
Actual return (loss) on plan assets:
Assets held at the reporting date	1.7	1.0
Assets sold during the period	0.1	0.2
Purchases, sales and settlements, net	(1.8)	(0.3)
Balance at the end of the period	8.6	8.6
Recurring basis \| Significant Unobservable Inputs (Level 3) \| Real Estate
Changes in plan assets
Balance at the beginning of the period	7.1	6.3
Actual return (loss) on plan assets:
Assets held at the reporting date	1.6	0.9
Assets sold during the period	(0.2)	0.2
Purchases, sales and settlements, net	(0.7)	(0.3)
Balance at the end of the period	7.8	7.1
Recurring basis \| Significant Unobservable Inputs (Level 3) \| Private Equity
Changes in plan assets
Balance at the beginning of the period	0.8	0.9
Actual return (loss) on plan assets:
Assets held at the reporting date	0.1	0.1
Assets sold during the period	0.3
Purchases, sales and settlements, net	(0.4)	(0.2)
Balance at the end of the period	0.8	0.8
Recurring basis \| Significant Unobservable Inputs (Level 3) \| Insurance
Changes in plan assets
Balance at the beginning of the period	0.7	0.5
Actual return (loss) on plan assets:
Purchases, sales and settlements, net	(0.7)	0.2
Balance at the end of the period		0.7
Pension Benefits
Changes in plan assets
Balance at the beginning of the period	126.0	137.9
Actual return (loss) on plan assets:
Balance at the end of the period	149.2	126.0	137.9
Employer contribution	13.3	4.4	5.9
Pension Benefits \| Significant Unobservable Inputs (Level 3) \| Real Estate
Actual return (loss) on plan assets:
Balance at the end of the period	7.8	7.1
Pension Benefits \| Significant Unobservable Inputs (Level 3) \| Private Equity
Actual return (loss) on plan assets:
Balance at the end of the period	0.8	0.8
Pension Benefits \| Significant Unobservable Inputs (Level 3) \| Insurance
Actual return (loss) on plan assets:
Balance at the end of the period		$ 0.7

- Definition

+ References+ Details

EMPLOYEE BENEFIT PLANS (Details 4) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Pension Benefits
Change in Benefit Obligation
Benefit obligation at beginning of year	$ 192.6	$ 189.8
Service cost	2.7	5.4	4.6
Interest cost	9.0	10.7	10.3
Actuarial (gain) loss	14.9	20.7
Benefits paid	(9.1)	(9.2)
Amendments/Curtailments		(24.8)
Benefit obligation at end of year	210.1	192.6	189.8
Changes in plan assets
Balance at the beginning of the period	126.0	137.9
Actual return on plan assets	19.0	(7.1)
Employer contribution	13.3	4.4	5.9
Benefits paid	(9.1)	(9.2)
Balance at the end of the period	149.2	126.0	137.9
Funded Status and Recognized Liability	(60.9)	(66.6)
Qualified Plans
Change in Benefit Obligation
Benefit obligation at end of year	210.1	192.6
Changes in plan assets
Balance at the end of the period	149.2	126.0
Accumulated benefit obligation	209.6	191.9
Other Post-retirement Benefits
Change in Benefit Obligation
Benefit obligation at beginning of year	48.5	51.8
Service cost	1.0	0.9	0.7
Interest cost	2.3	3.0	2.6
Plan participants' contributions	1.3	1.2
Actuarial (gain) loss	(0.6)	(4.7)
Benefits paid	(3.3)	(3.7)
Benefit obligation at end of year	49.2	48.5	51.8
Changes in plan assets
Benefits paid	(3.3)	(3.7)
Funded Status and Recognized Liability	$ (49.2)	$ (48.5)

EMPLOYEE BENEFIT PLANS (Details 5) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Employee benefit plans
Non-current liabilities	$ (108.0)	$ (113.0)
Pension Benefits
Employee benefit plans
Non-current liabilities	(60.9)	(66.6)
Total	(60.9)	(66.6)
Net loss (gain) (net of taxes)	55.8	56.1
Prior service cost (net of taxes)	(13.4)	(14.8)
Total	42.4	41.3
Projected benefit obligation	210.1	192.6	189.8
Fair value of plan assets	149.2	126.0	137.9
Estimated prior service credit that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2013	2.3
Estimated net loss that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2013	6.8
Qualified Plans
Employee benefit plans
Projected benefit obligation	210.1	192.6
Accumulated benefit obligation	209.6	191.9
Fair value of plan assets	149.2	126.0
Other Post-retirement Benefits
Employee benefit plans
Current liabilities	(2.1)	(2.1)
Non-current liabilities	(47.1)	(46.4)
Total	(49.2)	(48.5)
Net loss (gain) (net of taxes)	0.7	0.6
Prior service cost (net of taxes)	0.1	0.1
Total	0.8	0.7
Projected benefit obligation	49.2	48.5	51.8
Estimated net loss and prior service cost that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2013	$ 0.3
Amortization period of unrecognized gains and losses	5 years

EMPLOYEE BENEFIT PLANS (Details 6) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax)
Amortization of unrecognized (loss) gain	$ (4.8)	$ (3.9)	$ (2.1)
Prior service (credit) cost	4.6	5.7	7.0
Amortization of prior service cost	1.4	(0.3)	(0.2)
Pension Benefits
Components of Net Periodic Benefit Cost
Service cost	2.7	5.4	4.6
Interest cost	9.0	10.7	10.3
Expected return on plan assets	(10.7)	(11.1)	(9.7)
Amortization of net loss (gain)	7.0	4.0	3.5
Amortization of prior service cost	(2.3)	0.1	0.1
Net periodic benefit cost	5.7	9.1	8.8
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax)
Net loss (gain)	4.0	23.8	3.6
Amortization of unrecognized (loss) gain	(4.2)	(2.4)	(2.1)
Prior service (credit) cost		(15.1)
Amortization of prior service cost	1.4	(0.1)	(0.1)
Total recognized in other comprehensive income	1.2	6.2	1.4
Total recognized in net periodic benefit cost and other comprehensive income	6.9	15.3	10.2
Weighted Average Assumptions:
Discount rate (as a percent)	4.20%	4.80%	5.80%
Expected long-term rate of return plan assets (as a percent)	8.30%	8.30%	8.30%	8.50%
Rate of compensation increase (as a percent)	3.00%	4.00%	4.00%
Non-qualified Pension Plans
Total obligation	210.1	192.6	189.8
Expense associated with plans	5.7	9.1	8.8
Amounts recognized in accumulated other comprehensive income for net loss, net of tax	55.8	56.1
Amount recognized as prior service credit, net of tax	(13.4)	(14.8)
Estimated net loss and prior service credit, net of tax, that will be recognized in net periodic pension cost	42.4	41.3
Non-qualified Pension Plans
Components of Net Periodic Benefit Cost
Net periodic benefit cost	0.3	0.8	1.5
Non-qualified Pension Plans
Number of outside directors covered under the frozen non-qualified pension plan	2
Total obligation	7.9
Discount rate used to determine obligation (as a percent)	2.40%
Expense associated with plans	0.3	0.8	1.5
Amounts recognized in accumulated other comprehensive income for net loss, net of tax	2.0
Amount recognized as prior service credit, net of tax	0.9
Other Post-retirement Benefits
Components of Net Periodic Benefit Cost
Service cost	1.0	0.9	0.7
Interest cost	2.3	3.0	2.6
Amortization of net loss (gain)	0.6	1.9	0.4
Amortization of prior service cost	0.1	0.2	0.2
Net periodic benefit cost	4.0	6.0	3.9
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (net of tax)
Net loss (gain)	(0.4)	(2.5)	3.9
Amortization of unrecognized (loss) gain	(0.3)	(1.0)	(0.2)
Amortization of prior service cost		(0.1)	(0.1)
Total recognized in other comprehensive income	(0.7)	(3.6)	3.6
Total recognized in net periodic benefit cost and other comprehensive income	3.3	2.4	7.5
Weighted Average Assumptions:
Discount rate (as a percent)	4.30%	4.90%	5.80%
Rate of compensation increase (as a percent)	3.00%	4.00%	4.00%
Initial health care cost trend rate (as a percent)	8.00%	9.00%	10.00%
Ultimate rate (as a percent)	4.50%	5.00%	5.00%
Effect of one percentage point change in the assumed health care cost trend rates
Effect of one percentage point increase on total of service and interest cost components	0.6	0.6	0.5
Effect of one percentage point increase on post-retirement benefit obligation	6.5	6.6	7.1
Effect of one percentage point decrease on total of service and interest cost components	(0.4)	(0.5)	(0.4)
Effect of one percentage point decrease on post-retirement benefit obligation	(5.2)	(5.3)	(5.7)
Non-qualified Pension Plans
Total obligation	49.2	48.5	51.8
Expense associated with plans	4.0	6.0	3.9
Amounts recognized in accumulated other comprehensive income for net loss, net of tax	0.7	0.6
Amount recognized as prior service credit, net of tax	0.1	0.1
Estimated net loss and prior service credit, net of tax, that will be recognized in net periodic pension cost	$ 0.8	$ 0.7

EMPLOYEE BENEFIT PLANS (Details 7) (USD $) In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Pension Benefits
Estimated future benefit payments
2013	$ 10.5
2014	11.0
2015	11.4
2016	11.7
2017	12.0
2018-2022	64.2
Non-qualified Pension Benefits
Estimated future benefit payments
2013	0.8
2014	3.3
2015	0.6
2016	0.8
2017	0.2
2018-2022	1.6
Post-retirement Benefits
Estimated future benefit payments
2013	2.2
2014	2.3
2015	2.4
2016	2.4
2017	2.5
2018-2022	13.0
Current liabilities	2.1	2.1
Non-qualified pension benefits and postretirement benefits
Estimated future benefit payments
Current liabilities	$ 2.9

- Definition

For a classified balance sheet, the amount recognized in balance sheet as a current liability associated with an underfunded defined benefit plan.

+ References+ Details

EMPLOYEE BENEFIT PLANS (Details 8) (USD $) In Millions, unless otherwise specified	12 Months Ended																			0 Months Ended	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012 Minimum	Dec. 31, 2012 Yellow Zone Hawaii Stevedoring Multiemployer Retirement Plan	Dec. 31, 2011 Yellow Zone Hawaii Stevedoring Multiemployer Retirement Plan	Dec. 31, 2010 Yellow Zone Hawaii Stevedoring Multiemployer Retirement Plan	Dec. 31, 2012 Yellow Zone Hawaii Terminals Multiemployer Pension Plan	Dec. 31, 2011 Yellow Zone Hawaii Terminals Multiemployer Pension Plan	Dec. 31, 2010 Yellow Zone Hawaii Terminals Multiemployer Pension Plan	Dec. 31, 2012 Green Zone Master, Mates and Pilots	Dec. 31, 2011 Green Zone Master, Mates and Pilots	Dec. 31, 2010 Green Zone Master, Mates and Pilots	Dec. 31, 2012 Green Zone MEBA Pension Trust	Dec. 31, 2012 Green Zone OCU Trust Pension	Dec. 31, 2011 Green Zone OCU Trust Pension	Dec. 31, 2010 Green Zone OCU Trust Pension	Dec. 31, 2012 Multiemployer Benefit Pension Plans item	Dec. 31, 2012 Multiemployer Benefit Pension Plans Contract A item	Jun. 15, 2012 Multiemployer Benefit Pension Plans Contract B item	Dec. 31, 2012 Multiemployer Benefit Pension Plans Red Zone Maximum	Dec. 31, 2012 Multiemployer Benefit Pension Plans Yellow Zone Maximum	Dec. 31, 2012 Multiemployer Benefit Pension Plans Green Zone Minimum	Dec. 31, 2012 Multiemployer Benefit Postretirement Plans item	Dec. 31, 2011 Multiemployer Benefit Postretirement Plans	Dec. 31, 2010 Multiemployer Benefit Postretirement Plans
Multiemployer Plans
Number of multiemployer plans																		9						7
Funded status of multiemployer plan (as a percent)																					65.00%	80.00%	80.00%
Contributions	$ 13.1	$ 10.5	$ 10.2		$ 2.4	$ 2.2	$ 2.0	$ 5.1	$ 5.2	$ 5.2	$ 3.4	$ 3.0	$ 2.9	$ 2.1	$ 0.1	$ 0.1	$ 0.1							$ 10.8	$ 10.7	$ 10.5
Amortization period provided by Public Law to amortize losses																		29 years
Number of collective-bargaining agreements																		2
Number of vessels covered																			13	1
Employer matching contribution to MEBA Pension Trust (as a percent)				11.70%
Threshold of total contributions for which planned years are disclosed (as a percent)				5.00%

EMPLOYEE BENEFIT PLANS (Details 9) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
401(k) plan
Defined Contribution Plans
Employer matching contribution (as a percent)	4.00%
Employer matching contribution expenses	$ 1.6	$ 1.5	$ 0.2
Profit sharing plan
Defined Contribution Plans
Profit sharing expense recorded	$ 1.2		$ 1.7
Profit sharing plan \| Maximum
Defined Contribution Plans
Contribution percentage			3.00%

INCOME TAXES (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income tax expense on income from continuing operations
Federal									$ 38.9	$ 26.5	$ 38.1
State									3.2	1.8	5.4
Total									42.1	28.3	43.5
Deferred									(9.1)	(3.2)	3.2
Provision for income taxes	4.4	11.2	15.3	2.1	3.1	10.6	9.6	1.8	33.0	25.1	46.7
Difference of Income tax expense from amounts computed by applying the statutory federal rate to income from continuing operations
Computed federal income tax expense									29.7	24.9	41.2
State income taxes									0.5	1.4	5.0
Deferred tax adjustment									(1.4)
Separation costs									1.7
Unrecognized tax benefit									1.5
Other-net									1.0	(1.2)	0.5
Provision for income taxes	4.4	11.2	15.3	2.1	3.1	10.6	9.6	1.8	33.0	25.1	46.7
Deferred tax assets:
Benefit plans	54.0				52.5				54.0	52.5
Insurance reserves	9.7				7.8				9.7	7.8
Allowance for doubtful accounts	1.7				1.9				1.7	1.9
Reserves	1.7				2.5				1.7	2.5
Other	0.3				1.9				0.3	1.9
Total deferred tax assets	67.4				66.6				67.4	66.6
Deferred tax liabilities:
Basis differences for property and equipment	292.6				301.1				292.6	301.1
Capital Construction Fund	3.3				3.3				3.3	3.3
Joint ventures and other investments	3.8				6.0				3.8	6.0
Deferred revenue	10.9				8.0				10.9	8.0
Amortization	2.1				2.0				2.1	2.0
Total deferred tax liabilities	312.7				320.4				312.7	320.4
Net deferred tax liability	$ 245.3				$ 253.8				$ 245.3	$ 253.8

INCOME TAXES (Details 2) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
INCOME TAXES
Net tax benefits from share-based transactions	$ 1.3	$ 0.6
Non-deductible separation costs	1.7
Reconciliation of the beginning and ending amount of gross unrecognized tax benefits
Balance at beginning of the period	2.6	3.5	2.7
Additions for tax positions of prior years	4.0	0.3
Additions for tax positions of current year	3.7	(0.5)	1.1
Reductions for tax positions of prior years	(1.0)		(0.3)
Reductions for lapse of statute of limitations	(1.0)	(0.7)
Balance at the end	8.3	2.6	3.5
Unrecognized tax benefits that, if recognized, would favorably impact the effective rate	8.3	2.6	3.5
Interest accrued related to unrecognized tax benefits	0.4	0.2	0.2
Unrecognized tax benefit increase due to Former Parent Company indemnification plan	$ 4.0

SHARE-BASED AWARDS (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share-based compensation disclosures
Common stock available for future issuance (in shares)	6,200,000
Stock options
Share-based compensation disclosures
Options granted, weighted average grant-date fair value (in dollars per share)	$ 10.74	$ 8.92	$ 6.59
Weighted average valuation assumptions
Expected volatility (as a percent)	31.80%	29.20%	28.80%
Expected term	6 years 1 month 6 days	6 years	5 years 9 months 18 days
Risk-free interest rate (as a percent)	1.20%	2.30%	2.70%
Dividend yield (as a percent)	2.70%	3.10%	3.80%
Options cancelled in connection with separation (in shares)	2,900,000
Activity in the entity's stock option plans
Outstanding, beginning of period (in shares)	2,096,000
Granted (in shares)	111,000
Exercised (in shares)	(687,000)
Forfeited and expired (in shares)	(167,000)
Outstanding, end of period (in shares)	1,353,000	2,096,000
Exercisable (in shares)	911,000
Weighted average exercise price
Outstanding, weighted average exercise price, beginning of period (in dollars per share)	$ 20.11
Granted, weighted average exercise price (in dollars per share)	$ 23.74
Exercised, weighted average exercise price (in dollars per share)	$ 17.57
Forfeited and expired, weighted average exercise price (in dollars per share)	$ 24.62
Outstanding, weighted average exercise price, end of period (in dollars per share)	$ 21.15	$ 20.11
Exercisable, weighted average exercise price (in dollars per share)	$ 21.40
Outstanding, weighted average contractual life	5 years 7 months 6 days
Exercisable, weighted average contractual life	4 years 6 months
Outstanding, aggregate intrinsic value	$ 4,794
Exercisable, aggregate intrinsic value	$ 3,071
2007 Plan
Share-based compensation disclosures
Common stock initially available for future issuance (in shares)	2,215,000
Common stock available for future issuance (in shares)	6,200,000
Additional shares of authorized for issuance	2,200,000
Number of separate incentive compensation programs	4
Number of share based compensation plans within the entity's incentive compensation programs	3
2007 Plan \| Discretionary Grant Program
Share-based compensation disclosures
Exercisable period	3 years
2007 Plan \| Stock options
Activity in the entity's stock option plans
Outstanding, beginning of period (in shares)	1,329,000
Granted (in shares)	111,000
Exercised (in shares)	(448,000)
Forfeited and expired (in shares)	(38,000)
Outstanding, end of period (in shares)	954,000
Exercisable (in shares)	512,000
2007 Plan \| Stock options \| Discretionary Grant Program
Share-based compensation disclosures
Minimum exercise price as a percentage of fair market value of common stock	100.00%
Expiration Term	10 years
2007 Plan \| Performance-Based Restricted Stock Units \| Stock Issuance Program
Share-based compensation disclosures
Vesting period of awards granted	3 years
2007 Plan \| Time-Based Restricted Stock Units \| Stock Issuance Program
Share-based compensation disclosures
Vesting period of awards granted	3 years
2007 Plan \| Restricted Stock Units
Share-based compensation disclosures
Options granted, weighted average grant-date fair value (in dollars per share)	$ 17.46
2007 Plan \| Restricted Stock Units \| Automatic Grant Program
Share-based compensation disclosures
Vesting period of awards granted	3 years
1998 Plan \| Stock options
Activity in the entity's stock option plans
Outstanding, beginning of period (in shares)	572,000
Exercised (in shares)	(190,000)
Forfeited and expired (in shares)	(129,000)
Outstanding, end of period (in shares)	253,000
Exercisable (in shares)	253,000
Predecessor Plans 1998 Plan \| Stock options
Share-based compensation disclosures
Vesting period of awards granted	3 years
Expiration Term	10 years
Period of time within for an option to be exercised for eligibility for reload feature and new stock option grant	5 years
Ratio to convert original option price under reload feature	1.5
Predecessor Plans 1998 Plan \| Performance-Based Restricted Stock Units
Share-based compensation disclosures
Vesting period of awards granted	1 year
Predecessor Plans 1998 Plan \| Time-Based Restricted Stock Units
Share-based compensation disclosures
Vesting period of awards granted	3 years
Predecessor Plan 1998 Directors' Plan \| Stock options
Share-based compensation disclosures
Exercisable period	3 years
Number of shares that can be purchased with the annual option (in shares)	8,000
Activity in the entity's stock option plans
Outstanding, beginning of period (in shares)	195,000
Exercised (in shares)	(49,000)
Outstanding, end of period (in shares)	146,000
Exercisable (in shares)	146,000

SHARE-BASED AWARDS (Details 2) (USD $)	12 Months Ended
SHARE-BASED AWARDS (Details 2) (USD $)	Dec. 31, 2012
Weighted Average Grant-Date Fair Value
Number of shares remaining available for future issuance under all equity compensation plans	6,200,000
Number of shares to be issued upon exercise of outstanding options, warrants and rights	1,400,000
Restricted Stock Units
Share-based compensation disclosures
Non-vested restricted stock units cancelled in connection with separation (in shares)	300,000
2007 Plan
Weighted Average Grant-Date Fair Value
Number of shares remaining available for future issuance under all equity compensation plans	6,200,000
2007 Plan \| Restricted Stock Units
Non-vested restricted stock unit activity
Outstanding, beginning of period (in shares)	394,000
Granted (in shares)	226,000
Vested (in shares)	(155,000)
Cancelled (in shares)	(109,000)
Outstanding, end of period (in shares)	356,000
Weighted Average Grant-Date Fair Value
Outstanding, weighted average grant-date fair value, beginning of period (in dollars per share)	$ 18.45
Granted, weighted average grant-date fair value (in dollars per share)	$ 17.46
Vested, weighted average grant-date fair value (in dollars per share)	$ 16.58
Cancelled, weighted average grant-date fair value (in dollars per shares)	$ 20.62
Outstanding, weighted average grant-date fair value, end of period (in dollars per shares)	$ 17.97

SHARE-BASED AWARDS (Details 3) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share-based expense (net of estimated forfeitures)
Total recognized tax benefit	$ (1.3)	$ (0.6)
Parent Company Exclusive Of A&B
Share-based expense (net of estimated forfeitures)
Total share-based expense	4.0	2.7	2.5
Total recognized tax benefit	(1.6)	(0.9)	(0.8)
Share-based expense (net of tax)	2.4	1.8	1.7
Cash received by A&B upon option exercise	3.5	2.0	0.4
Intrinsic value of options exercised	5.2	1.1	0.2
Tax benefit realized upon option exercise	1.5	0.4	0.1
Fair value of stock vested	3.8	2.5	1.2
Stock options \| Parent Company Exclusive Of A&B
Share-based expense (net of estimated forfeitures)
Total share-based expense	0.9	0.8	0.7
Unrecognized compensation cost	0.5
Unrecognized compensation cost, weighted average period for recognition	2 years
Non-vested stock/Restricted stock units \| Parent Company Exclusive Of A&B
Share-based expense (net of estimated forfeitures)
Total share-based expense	3.1	1.9	1.8
Restricted Stock Units \| Parent Company Exclusive Of A&B
Share-based expense (net of estimated forfeitures)
Unrecognized compensation cost	$ 7.0
Unrecognized compensation cost, weighted average period for recognition	1 year 3 months 18 days

COMMITMENTS AND CONTINGENCIES (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2012
Standby letters of credit
Commitments, Guarantees and Contingencies
Commitments and financial arrangements	$ 6.8
Letters of credit amount that enables qualification as self-insurance and other insurance programs	5.6
Letters of credit to support credit enhancement needs	1.2
Bonds
Commitments, Guarantees and Contingencies
Commitments and financial arrangements	14.2
U.S. Customs Bonds	13.0
Bonds related to transportation and other matters	1.2
Benefit plan withdrawal obligations
Commitments, Guarantees and Contingencies
Multiemployer Plan Withdrawal Obligation	$ 102.1

RELATED PARTY TRANSACTIONS (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Related Party Transactions
Contributions to A&B		$ 60.0	$ 45.0
A&B
Related Party Transactions
Vessel management services income	2.0	4.0	3.8
Lease expense to affiliate	(2.1)	(4.4)	(3.8)
Equipment and repair services expense and other	(1.4)	(2.7)	(2.7)
Related party expense, net	(1.5)	(3.1)	(2.7)
Contributions to A&B	155.7
Proceeds from and contributions to A&B from issuance of capital stock	21.7
Contributions from the Former Parent Company	$ 25.0	$ 40.3	$ 43.0

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References+ Details

REPORTABLE SEGMENTS (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012 item	Dec. 31, 2011	Dec. 31, 2010
Segment results
Number of segments									2
Revenue	$ 398.3	$ 401.4	$ 394.2	$ 366.1	$ 374.9	$ 380.6	$ 377.4	$ 329.7	$ 1,560.0	$ 1,462.6	$ 1,370.6
Operating income	23.9	34.2	32.5	6.1	11.8	30.9	29.2	6.7	96.7	78.6	125.4
Interest expense, net	(3.8)	(4.0)	(1.9)	(2.0)	(2.0)	(1.9)	(1.9)	(1.9)	(11.7)	(7.7)	(8.2)
Income from Continuing Operations Before Income Taxes	20.1	30.2	30.6	4.1	9.8	29.0	27.3	4.8	85.0	70.9	117.2
Income tax expense	4.4	11.2	15.3	2.1	3.1	10.6	9.6	1.8	33.0	25.1	46.7
Income From Continuing Operations	15.7	19.0	15.3	2.0	6.7	18.4	17.7	3.0	52.0	45.8	70.5
Income (Loss) From Discontinued Operations (net of income taxes)	(0.1)	0.1	(7.5)	1.4	(5.1)	(9.7)	1.0	2.2	(6.1)	(11.6)	21.6
Net Income	15.6	19.1	7.8	3.4	1.6	8.7	18.7	5.2	45.9	34.2	92.1
Assets	1,174.3				2,544.3				1,174.3	2,544.3	2,494.6
Capital expenditures									38.1	47.2	71.2
Depreciation and amortization									72.5	71.6	70.8
Goodwill	27.0				27.0				27.0	27.0	27.0
Discontinued Operations
Segment results
Assets					1,400.0					1,400.0	1,300.0
Reportable segments
Segment results
Assets	1,174.3				2,544.3				1,174.3	2,544.3	2,494.6
Capital expenditures									38.1	47.2	71.2
Depreciation and amortization									72.5	71.6	70.8
Ocean Transportation
Segment results
Revenue	303.7	307.1	299.5	279.5	282.1	281.4	274.3	238.4	1,189.8	1,076.2	1,015.0
Operating income	26.7	32.9	31.2	5.8	12.5	28.9	27.1	5.2	96.6	73.7	118.3
Assets	1,097.2				1,083.9				1,097.2	1,083.9	1,084.7
Capital expenditures									37.0	44.2	69.4
Depreciation and amortization									69.1	68.4	67.6
Ocean Transportation \| SSAT
Segment results
Equity in earnings from affiliates	3.2				8.6				3.2	8.6	12.8
Equity method investments	59.6				56.5				59.6	56.5	52.9
Logistics
Segment results
Revenue	94.6	94.3	94.7	86.6	92.8	99.2	103.1	91.3	370.2	386.4	355.6
Operating income	(2.8)	1.3	1.3	0.3	(0.7)	2.0	2.1	1.5	0.1	4.9	7.1
Assets	77.1				76.4				77.1	76.4	73.8
Capital expenditures									1.1	3.0	1.8
Depreciation and amortization									3.4	3.2	3.2
Goodwill	27.0				27.0				27.0	27.0	27.0
Other
Segment results
Assets					$ 1,384.0					$ 1,384.0	$ 1,336.1

QUARTERLY INFORMATION (Unaudited) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Quarterly information by segments
Revenue	$ 398.3	$ 401.4	$ 394.2	$ 366.1	$ 374.9	$ 380.6	$ 377.4	$ 329.7	$ 1,560.0	$ 1,462.6	$ 1,370.6
Operating income	23.9	34.2	32.5	6.1	11.8	30.9	29.2	6.7	96.7	78.6	125.4
Interest expense	(3.8)	(4.0)	(1.9)	(2.0)	(2.0)	(1.9)	(1.9)	(1.9)	(11.7)	(7.7)	(8.2)
Income from Continuing Operations Before Income Taxes	20.1	30.2	30.6	4.1	9.8	29.0	27.3	4.8	85.0	70.9	117.2
Income tax expense	4.4	11.2	15.3	2.1	3.1	10.6	9.6	1.8	33.0	25.1	46.7
Income From Continuing Operations	15.7	19.0	15.3	2.0	6.7	18.4	17.7	3.0	52.0	45.8	70.5
(Loss) income from discontinued operations	(0.1)	0.1	(7.5)	1.4	(5.1)	(9.7)	1.0	2.2	(6.1)	(11.6)	21.6
Net Income	15.6	19.1	7.8	3.4	1.6	8.7	18.7	5.2	45.9	34.2	92.1
Income From Continuing Operations, Earnings Per Share:
Basic (in dollars per share)	$ 0.37	$ 0.45	$ 0.36	$ 0.05	$ 0.16	$ 0.44	$ 0.42	$ 0.07	$ 1.23	$ 1.10	$ 1.71
Diluted (in dollars per share)	$ 0.37	$ 0.45	$ 0.36	$ 0.05	$ 0.16	$ 0.44	$ 0.42	$ 0.07	$ 1.22	$ 1.09	$ 1.70
Net Income, Earnings Per Share:
Basic (in dollars per share)	$ 0.37	$ 0.45	$ 0.18	$ 0.08	$ 0.04	$ 0.21	$ 0.45	$ 0.12	$ 1.09	$ 0.82	$ 2.23
Diluted (in dollars per share)	$ 0.36	$ 0.45	$ 0.18	$ 0.08	$ 0.04	$ 0.21	$ 0.44	$ 0.12	$ 1.08	$ 0.81	$ 2.22
Ocean transportation
Quarterly information by segments
Revenue	303.7	307.1	299.5	279.5	282.1	281.4	274.3	238.4	1,189.8	1,076.2	1,015.0
Operating income	26.7	32.9	31.2	5.8	12.5	28.9	27.1	5.2	96.6	73.7	118.3
Logistics services
Quarterly information by segments
Revenue	94.6	94.3	94.7	86.6	92.8	99.2	103.1	91.3	370.2	386.4	355.6
Operating income	$ (2.8)	$ 1.3	$ 1.3	$ 0.3	$ (0.7)	$ 2.0	$ 2.1	$ 1.5	$ 0.1	$ 4.9	$ 7.1

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2012
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS On December 26, 2012 the Company announced that it entered into a definitive agreement to acquire the primary assets formerly owned by Reef Shipping, a South Pacific shipping company. The Company will use these assets to enter into the South Pacific shipping trade in 2013. On January 11, 2013, the transaction was completed. The Company paid a total of $9.6 million for the primary assets, financed by borrowings from the Company’s revolving credit facilities and cash on hand.

SUBSEQUENT EVENTS (Details) (Subsequent Events, Reef Shipping, USD $) In Millions, unless otherwise specified	Jan. 11, 2013
Subsequent Events \| Reef Shipping
SUBSEQUENT EVENTS
Purchase price	$ 9.6