Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Changes in Allowance for Doubtful Accounts

The changes in the allowance for doubtful accounts, included on the consolidated balance sheets as an offset to “Accounts receivable,” for the three years ended December 31, 2014 were as follows (in millions):

	Balance at Beginning of year	Provision for bad debt	Write-offs and Other	Balance at End of Year
2014	$1.3	$0.8	$(0.4)	$1.7
2013	$1.6	$0.1	$(0.4)	$1.3
2012	$1.7	$0.2	$(0.3)	$1.6

Inventories

Inventories at December 31, 2014 and 2013 were as follows (in millions):

	2014		2013
Sugar inventories	$	23.3	$	16.8
Asphalt	21.3		17.9
Processed rock, portland cement, and sand	15.7		12.9
Work in progress	2.8		2.7
Retail merchandise	1.5		1.8
Parts, materials and supplies inventories	17.3		16.0
Total	$	81.9	$	68.1

Estimated Useful Lives of Property

Estimated useful lives of property are as follows:

Classification	Range of Life (in years)
Buildings	10 to 40
Water, power and sewer systems	5 to 50
Rock crushing and asphalt plants	25 to 35
Machinery and equipment	2 to 35
Other property improvements	3 to 35

Schedule of Acquired Finite-Lived Intangible Assets

Intangible assets acquired in 2014 and 2013 were as follows:

	2014			2013
	Amount		Weighted Average Life (Years)	Amount		Weighted Average Life (Years)
Amortized intangible assets:
In-place/favorable leases	$	2.1	1.8	$	51.3	7.2
Permitted quarry rights	—		—	18.0		19.0
Contract backlog	—		—	2.6		2.2
Trade name/customer relationships	—		—	3.1		8.0
Total	$	2.1	1.8	$	75.0	9.9

Intangible Assets

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

	2014					2013
	Cost		Accumulated Amortization			Cost		Accumulated Amortization
Amortized intangible assets:
In-place leases	$	61.6	$	(25.8	)	$	59.6	$	(18.6	)
Favorable leases	16.6		(7.8		)	16.6		(6.1		)
Permitted quarry rights	18.0		(0.7		)	18.0		(0.1		)
Contract backlog	2.6		(2.5		)	2.6		(1.0		)
Trade name/customer relationships	2.2		(0.3		)	3.1		—
Total assets	$	101.0	$	(37.1	)	$	99.9	$	(25.8	)

Estimated Future Amortization Expenses Related to Intangible Assets

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

	Estimated Amortization
2015	$9.0
2016	$6.7
2017	$5.6
2018	$4.8
2019	$4.3

Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill allocated to the Company's reportable segments for the years ended December 31, 2014 and 2013 were as follows (in millions):

	Materials & Construction		Real Estate Leasing			Total
Balance, January 1, 2013	$	—	$	—		$	—
Goodwill acquired during the year	90.3		9.3			99.6
Balance, December 31, 2013	90.3		9.3			99.6
Goodwill increase during the year	3.3		—			3.3
Goodwill allocated to sale of Maui Mall	—		(0.6		)	(0.6		)
Balance, December 31, 2014	$	93.6	$	8.7		$	102.3

Shares Used to Compute Basic and Diluted Earnings Per Share

The following table provides a reconciliation of income from continuing operations to income from continuing operations attributable to A&B (in millions):

	2014			2013			2012
Income from continuing operations	$	30.2		$	12.5		$	6.0
Non-controlling interest	(3.1		)	(0.5		)	—
Income from continuing operations attributable to A&B	$	27.1		$	12.0		$	6.0

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

	2014	2013	2012
Denominator for basic EPS - weighted average shares outstanding	48.7	44.4	42.6
Effect of dilutive securities:
Outstanding stock options and restricted stock units	0.6	0.7	0.3
Denominator for diluted EPS - weighted average shares outstanding	49.3	45.1	42.9

Components of Accumulated Other Comprehensive Loss, Net of Taxes

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

	2014			2013			2012
Unrealized components of benefit plans:
Pension plans	$	(43.9	)	$	(29.3	)	$	(48.6	)
Post-retirement plans	(0.5		)	(1.1		)	1.4
Non-qualified benefit plans	—			0.3			—
Accumulated other comprehensive loss	$	(44.4	)	$	(30.1	)	$	(47.2	)

Accumulated Other Comprehensive Income: The changes in accumulated other comprehensive income for pension and postretirement plans for the year ended December 31, 2014 were as follows (in millions, net of tax):

	December 31,
	2014			2013
Beginning balance	$	(30.1	)	$	(47.2	)
Amounts reclassified from accumulated other comprehensive income, net of tax	(14.3		)	17.1
Ending balance	$	(44.4	)	$	(30.1	)

Reclassification out of Accumulated Other Comprehensive Income

The reclassifications of other comprehensive income components out of accumulated other comprehensive income for 2014 and were as follows (in millions):

Details about Accumulated Other Comprehensive Income Components	2014			2013			2012
Actuarial gain (loss)*	$	(26.7	)	$	22.4		$	(6.0	)
Amortization of defined benefit pension items reclassified to net periodic pension cost:
Net loss*	4.5			7.7			8.0
Prior service credit*	(1.3		)	(1.3		)	(1.3		)
Total before income tax	(23.5		)	28.8			0.7
Income taxes	9.2			(11.7		)	(0.3		)
Other comprehensive income (loss) net of tax	$	(14.3	)	$	17.1		$	0.4

* These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 12 for additional details).