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INDUSTRY SEGMENTS | 12 Months Ended
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Dec. 31, 2011
INDUSTRY SEGMENTS [Abstract] |
INDUSTRY SEGMENTS | 14. INDUSTRY SEGMENTS Operating segments are components of an enterprise that engage in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company's chief operating decision maker is its Chief Executive Officer. Based on the foregoing, the Company has five groups of similar products and services that are provided by its five segments that operate in three industries: Transportation, Real Estate and Agribusiness. The Transportation Industry consists of two segments. Ocean Transportation carries freight between various U.S. Pacific Coast, major Hawaii ports, Guam, China and other Pacific ports and provides terminal, stevedoring and container equipment management services in Hawaii. Additionally, the Ocean Transportation segment has a 35 percent interest in an entity that provides terminal and stevedoring services at U.S. Pacific Coast facilities. Logistics Services arranges domestic and international rail intermodal service, long-haul and regional highway brokerage, specialized hauling, flat-bed and project work, less-than-truckload, expedited freight services, and warehousing and distribution services. The Real Estate Industry consists of two segments. The Real Estate Sales segment generates its revenues through the development and sale of land, commercial and residential properties. The Real Estate Leasing segment owns, operates, and manages retail, office, and industrial properties. When property that was previously leased is sold, the sales revenue and operating profit are included with the Real Estate Sales segment. Agribusiness, which consists of one segment, grows sugar cane; produces bulk raw sugar, specialty food-grade sugars, and molasses; markets and distributes specialty food-grade sugars; provides general trucking services, mobile equipment maintenance and repair services in Hawaii; and generates and sells, to the extent not used in the Company's operations, electricity. The accounting policies of the operating segments are described in the summary of significant accounting policies. Reportable segments are measured based on operating profit, exclusive of interest expense, general corporate expenses, and income taxes. Transactions between reportable segments are accounted for on the same basis as transactions with unrelated third parties. Industry segment information for 2011, 2010, and 2009 is summarized below (in millions):
For the Year |  | 2011 |  |  | 2010 |  |  | 2009 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Transportation: |  |  |  |  |  |  |  |  |  |  |  |
Ocean transportation |  | $ | 1,077.6 |  |  | $ | 1,016.5 |  |  | $ | 888.6 |
Logistics services |  |  | 386.4 |  |  |  | 355.6 |  |  |  | 320.9 |
Real Estate: |  |  |  |  |  |  |  |  |  |  |  |
Leasing |  |  | 100.1 |  |  |  | 94.4 |  |  |  | 103.2 |
Sales |  |  | 66.2 |  |  |  | 136.1 |  |  |  | 125.6 |
Less amounts reported in discontinued operations1 |  |  | (47.5 | ) |  |  | (126.7 | ) |  |  | (136.6 | )
Agribusiness5 |  |  | 161.7 |  |  |  | 163.9 |  |  |  | 107.0 |
Reconciling Items 2 |  |  | (22.1 | ) |  |  | (26.3 | ) |  |  | (16.3 | )
Total revenue |  | $ | 1,722.4 |  |  | $ | 1,613.5 |  |  | $ | 1,392.4 |
Operating Profit: |  |  |  |  |  |  |  |  |  |  |  |
Transportation: |  |  |  |  |  |  |  |  |  |  |  |
Ocean transportation3 |  | $ | 74.1 |  |  | $ | 118.7 |  |  | $ | 58.3 |
Logistics services |  |  | 5.0 |  |  |  | 7.2 |  |  |  | 6.7 |
Real Estate: |  |  |  |  |  |  |  |  |  |  |  |
Leasing |  |  | 39.3 |  |  |  | 35.3 |  |  |  | 43.2 |
Sales3 |  |  | 15.5 |  |  |  | 50.1 |  |  |  | 39.1 |
Less amounts reported in discontinued operations1 |  |  | (23.8 | ) |  |  | (54.5 | ) |  |  | (59.2 | )
Agribusiness5 |  |  | 22.2 |  |  |  | 6.1 |  |  |  | (27.8 | )
Total operating profit |  |  | 132.3 |  |  |  | 162.9 |  |  |  | 60.3 |
Interest expense, net4 |  |  | (24.8 | ) |  |  | (25.5 | ) |  |  | (25.9 | )
General corporate expenses |  |  | (20.3 | ) |  |  | (23.3 | ) |  |  | (21.8 | )
Income from continuing operations before income taxes |  |  | 87.2 |  |  |  | 114.1 |  |  |  | 12.6 |
Income taxes |  |  | 32.3 |  |  |  | 44.7 |  |  |  | 5.0 |
Income from continuing operations |  |  | 54.9 |  |  |  | 69.4 |  |  |  | 7.6 |
Discontinued operations |  |  | (20.7 | ) |  |  | 22.7 |  |  |  | 36.6 |
Net income |  | $ | 34.2 |  |  | $ | 92.1 |  |  | $ | 44.2 |
1 | Prior year amounts restated for amounts treated as discontinued operations.
2 | Includes inter-segment revenue, interest income, and other income classified as revenue for segment reporting purposes.
3 | The Ocean Transportation segment includes approximately $8.6 million, $12.8 million, and $6.2 million of equity in earnings from its investment in SSAT for 2011, 2010, and 2009, respectively. The Real Estate Sales segment includes approximately $7.9 million equity in loss and $2.0 million in equity in earnings from its various real estate joint ventures for 2011 and 2010, respectively. Equity in earnings from joint ventures in 2009 was negligible.
4 | Includes Ocean Transportation interest expense of $7.7 million, $8.2 million, and $9.0 million for 2011, 2010, and 2009, respectively. Substantially all other interest expense was at the parent company.
5 | Includes a $4.9 million gain in 2010 related to an agriculture disaster relief payment for drought experienced in prior years and a $5.4 million gain recorded upon consolidation of HS&TC in 2009.
As of December 31: |  | 2011 |  |  | 2010 |  |  | 2009 |
Identifiable Assets: |  |  |  |  |  |  |  |  |  |  |  |
Ocean transportation6 |  | $ | 1,082.6 |  |  | $ | 1,095.5 |  |  | $ | 1,095.2 |
Logistics services |  |  | 76.8 |  |  |  | 73.8 |  |  |  | 72.4 |
Real estate leasing |  |  | 770.9 |  |  |  | 739.4 |  |  |  | 627.4 |
Real estate sales6 |  |  | 451.4 |  |  |  | 420.8 |  |  |  | 415.6 |
Agribusiness |  |  | 157.8 |  |  |  | 150.3 |  |  |  | 156.8 |
Other |  |  | 4.8 |  |  |  | 14.8 |  |  |  | 12.2 |
Total assets |  | $ | 2,544.3 |  |  | $ | 2,494.6 |  |  | $ | 2,379.6 |
Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Ocean transportation |  | $ | 44.2 |  |  | $ | 69.4 |  |  | $ | 12.7 |
Logistics services7 |  |  | 3.0 |  |  |  | 1.8 |  |  |  | 0.6 |
Real estate leasing8 |  |  | 43.6 |  |  |  | 164.7 |  |  |  | 108.8 |
Real estate sales9 |  |  | 5.2 |  |  |  | 0.1 |  |  |  | 0.1 |
Agribusiness |  |  | 10.5 |  |  |  | 6.8 |  |  |  | 3.4 |
Other |  |  | -- |  |  |  | 0.3 |  |  |  | 0.3 |
Total capital expenditures |  | $ | 106.5 |  |  | $ | 243.1 |  |  | $ | 125.9 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Ocean transportation |  | $ | 70.6 |  |  | $ | 69.0 |  |  | $ | 67.1 |
Logistics services |  |  | 3.2 |  |  |  | 3.2 |  |  |  | 3.5 |
Real estate leasing1 |  |  | 21.6 |  |  |  | 20.3 |  |  |  | 19.5 |
Real estate sales |  |  | 0.2 |  |  |  | 0.2 |  |  |  | 0.3 |
Agribusiness |  |  | 11.9 |  |  |  | 12.7 |  |  |  | 11.9 |
Other |  |  | 1.1 |  |  |  | 1.9 |  |  |  | 3.1 |
Total depreciation and amortization |  | $ | 108.6 |  |  | $ | 107.3 |  |  | $ | 105.4 |
6 | The Ocean Transportation segment includes approximately $56.5 million, $52.9 million, and $47.2 million related to its investment in SSAT as of December 31, 2011, 2010, and 2009, respectively. The Real Estate Sales segment includes approximately $290.1 million, $274.8 million, and $193.3 million related to its investment in various real estate joint ventures as of December 31, 2011, 2010, and 2009, respectively.
7 | Excludes expenditures related to Matson Logistics' acquisitions, which are classified as acquisition of businesses in Cash Flows from Investing Activities within the Consolidated Statements of Cash Flows.
8 | Represents gross capital additions to the leasing portfolio, including gross tax-deferred property purchases that are reflected as non-cash transactions in the Consolidated Statements of Cash Flows.
9 | Excludes expenditures for real estate developments held for sale which are classified as Cash Flows from Operating Activities within the Consolidated Statements of Cash Flows. Operating cash flows for expenditures related to real estate developments were $14 million, $22 million, and $6 million for 2011, 2010, and 2009, respectively.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -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 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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