SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2011

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Changes in Allowance for Doubtful Accounts

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

	Balance at Beginning of year	Expense	Write-offs andOther	Balance at End of Year
2011	$8	$--	$(1)	$7
2010	$10	--	$(2)	$8
2009	$8	$3	$(1)	$10

Inventories

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

	2011		2010
Sugar inventories	$	16	$	16
Materials and supplies inventories		24		19
Total	$	40	$	35

Estimated Useful Lives of Property

Estimated useful lives of property are as follows:

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

Carrying Amount of Goodwill

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

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

Intangible Assets

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

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

Estimated Amortization Expenses Related to Intangibles Over the Next Five Years

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

	Estimated Amortization
2012	$	3
2013		3
2014		2
2015		2
2016		1

Denominator Used to Compute Basic and Diluted Earnings per Share

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

	2011	2010	2009
Denominator for basic EPS: weighted average shares outstanding	41.6	41.2	41.0
Effect of dilutive securities:
Outstanding stock options and non-vested stock units	0.4	0.3	0.1
Denominator for diluted EPS: weighted average shares outstanding	42.0	41.5	41.1

Components of Accumulated Other Comprehensive Income, Net of Taxes

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

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