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SHARE-BASED AWARDS (Tables)

12 Months Ended

Dec. 31, 2014

				Year Ended
				December 31, 2012
Expected volatility (1)				31.8%
Expected term (in years) (2)				6.1
Risk-free interest rate (3)				1.2%
Dividend yield (4)				2.7%

(1)

Expected volatility was primarily determined using the historical volatility of the Company’s common stock over the expected term, but the Company could also consider future events and other factors that it reasonably concluded marketplace participants might consider.

(2)

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.

(3)

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.

(4)

The expected dividend yield was based on the Company’s current and historical dividend policy.

Stock Option Activity

									Weighted		Weighted
					1998				Average		Average	Aggregate
	2007		1998		Director		Total		Exercise		Contractual	Intrinsic
	Plan		Plan		Plan		Shares		Price		Life	Value
Outstanding at December 31, 2013	844		208		140		1,192		$	21.24
Granted	—		—		—		—
Exercised	(187	)	(70	)	(62	)	(319	)	$	21.10
Forfeited and expired	—		(6	)	(15	)	(21	)	$	23.17
Outstanding at December 31, 2014	657		132		63		852		$	21.24	4.1	$	11,294
Exercisable at December 31, 2014	620		132		63		815		$	21.13	4.0	$	10,895

Non-Vested Restricted Stock Unit Activity

	2007 Plan Restricted Stock Units		Weighted Average Grant- Date Fair Value
Outstanding at December 31, 2013	555		$	25.61
Granted	352		23.61
Exercised	(193	)	25.05
Canceled	(36	)	24.78
Outstanding at December 31, 2014	678		$	24.78

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

	Years Ended December 31,
	2014			2013			2012
Share-based expense (net of estimated forfeitures):
Stock options	$	0.3		$	0.4		$	0.9
Non-vested stock and restricted stock units	8.4			5.5			3.1
Total share-based expense	8.7			5.9			4.0
Total recognized tax benefit	(3.4		)	(2.2		)	(1.6		)
Total share-based expense (net of tax)	$	5.3		$	3.7		$	2.4

Cash received by Matson upon option exercise	$	5.8		$	1.7		$	3.5
Intrinsic value of options exercised	$	3.4		$	1.1		$	5.2
Tax benefit realized upon option exercise	$	1.9		$	1.7		$	1.5
Fair value of stock vested	$	5.0		$	4.4		$	3.8