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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2013
SIGNIFICANT ACCOUNTING POLICIES |
Schedule of fair value measurement |
|  |  |  | Fair Value Measurements at |
|  |  |  | December 31, 2013 |
|  | Carrying Value at |  |  |  | Quoted Prices in |  | Significant |  | Significant |
|  | December 31, 2013 |  |  |  | Active Markets |  | Observable Inputs |  | Unobservable Inputs |
(in millions) |  | Total |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Cash and cash equivalents |  | $ | 114.5 |  | $ | 114.5 |  | $ | 114.5 |  | $ | — |  | $ | — |
Accounts and notes receivable, net |  | 182.3 |  | 182.3 |  | — |  | 182.3 |  | — |
Fixed rate debt |  | 286.1 |  | 292.7 |  | — |  | 292.7 |  | — |
|  |  |  | Fair Value Measurements at |
|  |  |  | December 31, 2012 |
|  | Carrying Value at |  |  |  | Quoted Prices in |  | Significant |  | Significant |
|  | December 31, 2012 |  |  |  | Active Markets |  | Observable Inputs |  | Unobservable Inputs |
(in millions) |  | Total |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Cash and cash equivalents |  | $ | 19.9 |  | $ | 19.9 |  | $ | 19.9 |  | $ | — |  | $ | — |
Accounts and notes receivable, net |  | 174.7 |  | 174.7 |  | — |  | 174.7 |  | — |
Variable rate debt |  | 24.0 |  | 24.0 |  | — |  | 24.0 |  | — |
Fixed rate debt |  | 295.1 |  | 316.8 |  | — |  | 316.8 |  | — |
Schedule of changes in the allowance for doubtful accounts receivable | The changes in the allowance for doubtful accounts receivable for the three years ended December 31, 2013 were as follows (in millions):
|  | Balance at |  |  |  |  |  |  |
|  | Beginning of |  |  |  | Write-offs |  | Balance at End |
|  | Year |  | Expense |  | and Other |  | of Year |
2013 |  | $ | 4.7 |  | $ | 0.6 |  | $ | (1.2 | ) | $ | 4.1 |
2012 |  | 5.3 |  | 0.7 |  | (1.3 | ) | 4.7 |
2011 |  | 6.1 |  | — |  | (0.8 | ) | 5.3 |
Schedule of estimated useful lives of property and equipment |
Classification |  | Range of Life (in years) |
Vessels |  | 5 to 40 |
Machinery and equipment |  | 2 to 20 |
Terminal facilities |  | 2 to 35 |
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, 2013 |  | Year Ended December 31, 2012 |  | Year Ended December 31, 2011 |
|  |  |  | 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 |  | $ | 53.7 |  | 42.7 |  | $ | 1.26 |  | $ | 52.0 |  | 42.3 |  | $ | 1.23 |  | $ | 45.8 |  | 41.6 |  | $ | 1.10 |
Loss from discontinued operations |  | — |  | 42.7 |  | — |  | (6.1 | ) | 42.3 |  | (0.14 | ) | (11.6 | ) | 41.6 |  | (0.28 | )
Net Income |  | $ | 53.7 |  |  |  | $ | 1.26 |  | $ | 45.9 |  |  |  | $ | 1.09 |  | $ | 34.2 |  |  |  | $ | 0.82 |
Effect of Dilutive Securities |  |  |  | 0.4 |  |  |  |  |  | 0.4 |  |  |  |  |  | 0.4 |  |  |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 53.7 |  | 43.1 |  | $ | 1.25 |  | $ | 52.0 |  | 42.7 |  | $ | 1.22 |  | $ | 45.8 |  | 42.0 |  | $ | 1.09 |
Loss from discontinued operations |  | — |  | 43.1 |  | — |  | (6.1 | ) | 42.7 |  | (0.14 | ) | (11.6 | ) | 42.0 |  | (0.28 | )
Net Income |  | $ | 53.7 |  |  |  | $ | 1.25 |  | $ | 45.9 |  |  |  | $ | 1.08 |  | $ | 34.2 |  |  |  | $ | 0.81 |

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