COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2019

COMMITMENTS AND CONTINGENCIES

Schedule of Commitments and Contractual Obligations

Commitments and contractual obligations, excluding debt obligations (see Note 8), lease commitments (see Note 9), pension and post-retirement plan commitments, and multi-employer bargaining plan withdrawal obligations (see Note 11 and 12), are as follows as of December 31, 2019:

Commitments and Contractual Obligations (in millions)	Total
Standby letters of credit (1)	$	7.7
Bonds (2)	$	33.1
Vessel construction obligations (3)	$	64.8
Vendor and other obligations (4)	$	29.6

(1) Standby letters of credit are required for the Company’s uninsured workers’ compensation and other insurance programs, and other needs.

(2) Bonds are required for U.S. Customs and other related matters.

(3) Vessel construction obligations represent remaining contractual obligations entered into for the construction of new vessels.

(4) Vendor and other obligations include: (i) non-cancellable contractual capital project obligations (excluding vessel construction obligations); (ii) dry-docking related obligations; and (iii) other contractual obligations.