PENSION AND OTHER POST-RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2016

PENSION AND OTHER POST-RETIREMENT PLANS

Schedule of the Company's target and actual asset allocations

Asset Categories	Target		2016		2015
Domestic equity securities	53	%	62	%	62	%
International equity securities	15	%	13	%	13	%
Debt securities	22	%	17	%	18	%
Real estate	5	%	6	%	6	%
Other and cash	5	%	2	%	1	%
Total	100	%	100	%	100	%

Schedule of the Company's actual return on plan assets

Actual Return on Plan Assets	Returns
One-year return	8.3	%
Three-year return	4.0	%
Five-year return	9.4	%
Long-term average return (since plan inception in 1989)	8.3	%

Schedule of the fair values of the Company's pension plan assets, by asset category

The fair values of the Company’s pension plan assets at December 31, 2016 and 2015, by asset category, are as follows (in millions):

	Fair Value Measurements at December 31, 2016
			Quoted Prices in		Significant		Significant
			Active Markets		Observable		Unobservable
Asset Category	Total		(Level 1)		Inputs (Level 2)		Inputs (Level 3)
Cash	$	7.8	$	7.8	$	—	$	—
Equity securities:
U.S. large-cap		67.1		31.6		35.5		—
U.S. mid- and small-cap		38.9		31.7		7.2		—
International large-cap		16.9		—		16.9		—
International small-cap		6.9		—		6.9		—
Fixed income securities:
U.S. Treasuries		8.9		—		8.9		—
Municipal bonds		9.3		—		9.3		—
Investment grade U.S. corporate bonds		5.3		—		5.3		—
High-yield U.S. corporate bonds		6.3		—		6.3		—
Emerging markets fixed income		0.5		0.5		—		—
Other types of investments:
Real estate partnership interests		10.8		—		—		10.8
Private equity partnership interests		0.1		—		—		0.1
Total	$	178.8	$	71.6	$	96.3	$	10.9

	Fair Value Measurements at December 31, 2015
			Quoted Prices in		Significant		Significant
			Active Markets		Observable		Unobservable
Asset Category	Total		(Level 1)		Inputs (Level 2)		Inputs (Level 3)
Cash	$	6.9	$	6.9	$	—	$	—
Equity securities:
U.S. large-cap		64.5		48.6		15.9		—
U.S. mid- and small-cap		34.7		28.7		6.0		—
International large-cap		16.5		—		16.5		—
International small-cap		6.1		—		6.1		—
Fixed income securities:
U.S. Treasuries		5.6		—		5.6		—
Municipal bonds		5.3		—		5.3		—
Investment grade U.S. corporate bonds		2.4		—		2.4		—
High-yield U.S. corporate bonds		6.0		—		6.0		—
Emerging markets fixed income		10.4		10.4		—		—
Other types of investments:
Real estate partnership interests		10.3		—		—		10.3
Private equity partnership interests		0.2		—		—		0.2
Total	$	168.9	$	94.6	$	63.8	$	10.5

Reconciliation of all pension plan fair value measurements using significant unobservable inputs (level 3)

The table below presents a reconciliation of all pension plan investments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2016 and 2015 (in millions):

	Fair Value Measurements Using Significant
	Unobservable Inputs (Level 3)
	Real Estate		Private Equity		Total
Balance at December 31, 2014	$	9.3	$	0.3	$	9.6
Actual return (loss) on plan assets:
Assets held at the reporting date		1.1		(0.1)		1.0
Assets sold during the period		0.4		—		0.4
Purchases, sales and settlements, net		(0.5)		—		(0.5)
Balance at December 31, 2015		10.3		0.2		10.5
Actual return (loss) on plan assets:
Assets held at the reporting date		0.6		(0.1)		0.5
Assets sold during the period		0.5		0.1		0.6
Purchases, sales and settlements, net		(0.6)		(0.1)		(0.7)
Balance at December 31, 2016	$	10.8	$	0.1	$	10.9

Schedule of change in benefit obligation and plan assets

The status of the funded qualified defined benefit pension plans and the unfunded post-retirement benefit plans at December 31, 2016 and 2015 are shown below (in millions):

					Other Post-retirement
	Pension Benefits				Benefits
	December 31,				December 31,
	2016		2015		2016		2015
Change in Benefit Obligation:
Benefit obligation at beginning of year	$	220.2	$	237.4	$	60.5	$	62.6
Service cost		3.9		3.3		1.5		1.5
Interest cost		9.7		9.5		2.7		2.5
Plan participants’ contributions		—		—		1.0		0.9
Actuarial loss (gain)		4.2		(17.9)		1.9		(3.1)
Benefits paid, net of subsidies received		(11.1)		(10.9)		(4.0)		(3.9)
Expenses paid		(1.5)		(1.2)		—		—
Benefit obligation at end of year		225.4		220.2		63.6		60.5
Change in Plan Assets:
Fair value of plan assets at beginning of year		168.9		178.9		—		—
Actual return on plan assets		15.0		(2.6)		—		—
Plan participants’ contributions		—		—		1.0		0.9
Employer contributions		7.5		4.7		3.0		3.0
Benefits paid, net of subsidies received		(11.1)		(10.9)		(4.0)		(3.9)
Expenses paid		(1.5)		(1.2)		—		—
Fair value of plan assets at end of year		178.8		168.9		—		—
Funded Status and Recognized Liability	$	(46.6)	$	(51.3)	$	(63.6)	$	(60.5)

Schedule of amounts recognized on the consolidated balance sheets and in accumulated other comprehensive loss

Qualified pension and other-post retirement benefits plans obligations recognized in the consolidated balance sheets and expenses recognized in accumulated other comprehensive loss at December 31, 2016 and 2015 were as follows (in millions):

					Other Post-retirement
	Pension Benefits				Benefits
	December 31,				December 31,
	2016		2015		2016		2015
Non-current assets	$	1.0	$	—	$	—	$	—
Current liabilities		—		—		(2.7)		(2.5)
Non-current liabilities, net		(47.6)		(51.3)		(60.9)		(58.0)
Total	$	(46.6)	$	(51.3)	$	(63.6)	$	(60.5)
Net loss, net of taxes	$	(49.1)	$	(50.8)	$	(4.4)	$	(4.7)
Prior service credit, net of taxes		7.7		9.1		—		—
Total	$	(41.4)	$	(41.7)	$	(4.4)	$	(4.7)

Schedule of information for qualified pension plans with an accumulated benefit obligation in excess of plan assets

The information for qualified pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2016 and 2015 is shown below (in millions):

	2016		2015
Projected benefit obligation	$	223.2	$	218.0
Accumulated benefit obligation	$	222.9	$	217.7
Fair value of plan assets	$	175.9	$	166.2

Schedule of components of the net periodic benefit cost and other changes in plan assets and benefit obligations recognized in other comprehensive income

Components of the net periodic benefit cost and other amounts recognized in other comprehensive income (loss) for the qualified pension plans and the other post-retirement benefit plans during 2016, 2015, and 2014 are shown below (in millions):

	Pension Benefits						Other Post-retirement Benefits
	December 31,						December 31,
	2016		2015		2014		2016		2015		2014
Components of Net Periodic Benefit Cost:
Service cost	$	3.9	$	3.3	$	3.3	$	1.5	$	1.5	$	1.1
Interest cost		9.7		9.5		9.4		2.7		2.5		2.6
Expected return on plan assets		(13.4)		(14.0)		(14.1)		—		—		—
Amortization of net loss		5.5		6.4		3.0		1.2		2.2		0.6
Amortization of prior service cost		(2.3)		(2.3)		(2.3)		—		—		—
Net periodic benefit cost	$	3.4	$	2.9	$	(0.7)	$	5.4	$	6.2	$	4.3
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income, net of tax:
Net loss (gain)	$	1.6	$	(1.0)	$	25.4	$	1.2	$	(1.9)	$	5.9
New prior service cost		—		0.1		—		—		—		—
Amortization of net loss		(3.3)		(3.9)		(1.8)		(0.8)		(1.3)		(0.4)
Amortization of prior service credit		1.4		1.4		1.4		—		—		—
Total recognized in other comprehensive income	$	(0.3)	$	(3.4)	$	25.0	$	0.4	$	(3.2)	$	5.5
Total recognized in net periodic benefit cost and other comprehensive income	$	3.1	$	(0.5)	$	24.3	$	5.8	$	3.0	$	9.8

Schedule of weighted average assumptions used to determine benefit information

	Pension Benefits						Other Post-retirement Benefits
	December 31,						December 31,
	2016		2015		2014		2016		2015		2014
Weighted Average Assumptions:
Discount rate (1)	4.40	%	4.50	%	4.10	%	4.60	%	4.60	%	4.20	%
Expected return on plan assets	8.00	%	8.00	%	8.25	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%	3.00	%	3.00	%	3.00	%
Initial health care cost trend rate (2)											7.10
Pre-65 group							6.60	%	6.80	%
Post-65 group							7.20	%	7.60	%
Ultimate health care cost trend rate							4.40	%	4.40	%	4.50	%
Year ultimate health care cost trend rate is reached (2)											2027
Pre-65 group							2037		2037
Post-65 group							2036		2036

(1) The Company derives a single equivalent rate utilizing a yield curve constructed from a portfolio of high-quality corporate bonds with various maturities.

(2) Starting in 2015, initial and ultimate health care trend rates used to determine obligations are different for pre-65 and post-65 populations.

Schedule of effect of one percentage point increase or decrease in other post-retirement benefits

If the assumed health care cost trend rate were increased or decreased one percentage point, the accumulated post-retirement benefit obligation, as of December 31, 2016, 2015, and 2014 and the net periodic post-retirement benefit cost for 2016, 2015 and 2014, would have increased or decreased as follows (in millions):

	Other Post-retirement Benefits
	One Percentage Point
	Increase						Decrease
	2016		2015		2014		2016		2015		2014
Effect on total of service and interest cost components	$	0.9	$	0.9	$	0.7	$	(0.7)	$	(0.7)	$	(0.5)
Effect on post-retirement benefit obligation	$	11.5	$	9.4	$	10.0	$	(8.3)	$	(7.4)	$	(7.8)

Schedule of amounts recognized on balance sheet and accumulated comprehensive income

Non-qualified pension plan obligations recognized in the Consolidated Balance Sheets and expenses recognized in accumulated other comprehensive loss at December 31, 2016 and 2015 are as follows (in millions):

	Non-qualified
	Pension Benefits
	December 31,
	2016		2015
Current liabilities	$	(1.0)	$	(1.2)
Non-current liabilities, net		(3.3)		(3.1)
Total	$	(4.3)	$	(4.3)
Net loss, net of taxes	$	(0.8)	$	(0.8)
Prior service credit, net of taxes		0.4		0.6
Total	$	(0.4)	$	(0.2)

Schedule of estimated benefit payments

The estimated future benefit payments for the next ten years are as follows (in millions):

	Qualified
	Pension		Non-qualified		Post-retirement
Year	Benefits		Pension Benefits		Benefits (1)
2017	$	12.4	$	1.0	$	2.7
2018		12.8		1.1		2.8
2019		13.1		0.2		2.9
2020		13.4		0.5		3.0
2021		13.7		—		3.1
2022-2026		73.0		2.7		16.7
Total	$	138.4	$	5.5	$	31.2

(1) Net of plan participants’ contributions and Medicare D subsidies.

Schedule of information regarding the entity's participation in the multi-employer pension plans

			Pension
			Protection Act
			Zone as of		FIP/RP Status		Contributions of Matson
	EIN/Pension		December 31,		Pending/	5%	($ in millions)						Surcharge	Expiration
Pension Funds	Plan Number	Notes	2016	2015	Implemented	Contributor	2016		2015		2014		Imposed	Date (5)
Hawaii Terminals Multiemployer Pension Plan	20-0389370-001		Yellow	Yellow	Implemented	Yes	$	5.3	$	4.9	$	5.1	No	6/30/2019
Hawaii Stevedoring Multiemployer Retirement Plan	99-0314293-001		Yellow	Yellow	Implemented	Yes		3.5		2.8		2.9	No	6/30/2019
Master, Mates and Pilots Pension Plan	13-6372630-001		Green	Green	No	Yes		3.1		2.2		1.9	No	6/15/2023,
														6/15/2027
Masters, Mates and Pilots Adjustable Pension Plan	37-1719247-001		(1)	(1)	No	Yes		1.8		1.7		1.0	No	6/15/2023,
														6/15/2027
MEBA Pension Trust - Defined Benefit Plan	51-6029896-001	(2)	Green	Red	Implemented	Yes		4.1		3.2		2.1	No	8/15/2018,
														6/15/2022
OCU Trust Pension Plan	26-1574440-001		Green	Green	No	No		0.2		0.1		0.1	No	6/30/2023
MFOW Supplementary Pension Plan	94-6201677-001		Green	Green	No	Yes		—		—		—	No	6/30/2017
SIU Pacific District Pension Plan	94-6061923-001		Green	Green	No	No		0.6		—		—	No	6/30/2017
Alaska Teamster - Employer Pension Plan	92-6003463-024	(3)	Red	Red	Implemented	Yes		2.6		1.5		—	Yes	6/30/2018,
														6/30/2019,
														6/30/2020
All Alaska Longshore Pension Plan	91-6085352-001	(3)	Green	Green	No	Yes		0.1		0.5		—	No	6/30/2020
Western Conference of Teamsters Pension Plan	91-6145047-001	(3)	Green	Green	No	No		1.3		0.8		—	No	3/31/2018
Western Conference of Teamsters Supplemental Benefit Trust	95-3746907-001	(3)	Green	Green	No	No		—		—		—	No	3/31/2018
OPEIU Local 153 Pension Plan	13-2864289-001	(3)	Red	Red	Implemented	No		0.1		0.1		—	No	11/09/2017
Seafarers Pension Trust	13-6100329-001	(3) (4)	Green	Green	No	No		—		—		—	No	6/30/2017
Total							$	22.7	$	17.8	$	13.1

(1) The Plan is not subject to the PPA funding requirements under IRS Section 432 as the Plan was not in effect on July 16, 2006.

(2) In 2012, the Company agreed to contribute at least 11.7 percent of total wages paid to employees in covered Marine Engineer Benefits Association (“MEBA”) employment to the MEBA Pension Trust by a reallocation of the total labor cost under the collective bargaining agreement.  The pension contribution rate was determined by the plan’s actuary to be necessary to maintain full funding of the pension plan and is fully offset by a reallocation of wages and other benefits.

(3) Matson's contributions to these plans commenced after the Horizon Acquisition on May 29, 2015.

(4) The Company does not make contributions directly to the Seafarers Pension Plan.  Instead, contributions are made to the Seafarers Health and Benefits Plan, and are subsequently re-allocated to the Seafarers Pension Plan at the discretion of the plan Trustee.

(5) Represents the expiration date of the collective bargaining agreement.

Schedule of information related to the Company's health and benefit plans

				Contributions of Matson
			5%	($ in millions)						Surcharge	Expiration
Health and Benefit Plans	EIN Number	Notes	Contributor	2016		2015		2014		Imposed	Date (3)
Stevedore Industry Committee Welfare Benefit Plan	99-0313967-501		Yes	$	4.9	$	3.8	$	3.1	No	6/30/2019
OCU Health and Welfare Trust	26-1574455-501		No		0.3		0.2		0.2	No	6/30/2023
SUP Welfare Plan, Inc.	94-1243666-502		Yes		3.1		2.9		2.7	No	6/30/2017
MEBA Medical and Benefits Plan	13-5590515-501		Yes		2.9		2.2		1.8	No	8/15/2018,
											6/15/2022
MFOW Welfare Fund	94-1254186-501		Yes		1.4		1.3		1.2	No	6/30/2017
ARA Pension and Welfare Plan	13-6083690-501		Yes		0.7		0.5		0.5	No	8/15/2021
Masters, Mates and Pilots Health and Benefit Plan	13-6696938-501		Yes		2.9		2.3		1.6	No	6/15/2023,
											6/15/2027
Seafarers Health and Benefits Plan	13-5557534-501	(1) (2)	Yes		3.1		1.8		—	No	6/30/2017
Alaska Teamster - Employer Welfare Trust	91-6034674-501	(2)	Yes		2.0		1.2		—	No	6/30/2018,
											6/30/2019,
											6/30/2020
All Alaska Longshore Health and Welfare Trust Fund	91-6070467-501	(2)	Yes		0.2		1.3		—	No	6/30/2020
Western Teamsters Welfare Trust	91-6033601-501	(2)	No		1.0		0.6		—	No	3/31/2018
Total				$	22.5	$	18.1	$	11.1

(1) Contributions made to the Seafarers Health and Benefits Plan are re-allocated to the Seafarers Pension Plan at the discretion of the plan Trustee.

(2) Matson's contributions to these plans commenced after the Horizon Acquisition on May 29, 2015.

(3) Represents the expiration date of the collective bargaining agreement.