XML 23 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net income $ 927.4 $ 193.1 $ 82.7
Reconciling adjustments:      
Depreciation and amortization 135.9 114.9 100.4
Amortization of operating lease right of use assets 103.3 74.8 60.7
Deferred income taxes 33.2 52.1 23.6
(Gain) Loss on disposal of property and equipment (0.8) 2.8 (1.4)
Share-based compensation expense 19.3 18.8 11.3
Income from SSAT (56.3) (26.3) (20.8)
Distributions from SSAT 46.9 55.4 25.2
Changes in assets and liabilities:      
Accounts receivable, net (90.3) (48.0) 17.8
Deferred dry-docking payments (36.3) (16.8) (25.9)
Deferred dry-docking amortization 24.3 25.1 34.3
Prepaid expenses and other assets (48.1) 21.9 24.5
Accounts payable, accruals and other liabilities 39.6 44.8 (13.9)
Operating lease liabilities (99.7) (75.9) (59.9)
Other long-term liabilities (14.3) (6.9) (9.8)
Net cash provided by operating activities 984.1 429.8 248.8
Cash Flows From Investing Activities:      
Capitalized vessel construction expenditures (14.9) (87.8) (219.1)
Other capital expenditures (310.4) (104.5) (91.2)
Proceeds from disposal of property and equipment 1.9 15.3 3.4
Cash deposits into Capital Construction Fund (31.2) (132.4) (96.2)
Withdrawals from Capital Construction Fund 31.2 132.4 96.2
Net cash used in investing activities (323.4) (177.0) (306.9)
Cash Flows From Financing Activities:      
Proceeds from issuance of debt   325.5  
Repayments of debt (59.3) (216.5) (42.1)
Proceeds from revolving credit facility 304.3 648.0 622.1
Repayments of revolving credit facility (376.1) (955.3) (478.0)
Payment of financing costs (3.0) (18.5)  
Proceeds from issuance of common stock   0.1 0.3
Dividends paid (45.9) (39.2) (37.2)
Repurchase of Matson common stock (198.3)    
Tax withholding related to net share settlements of restricted stock units (14.4) (5.6) (3.1)
Net cash (used in) provided by financing activities (392.7) (261.5) 62.0
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 268.0 (8.7) 3.9
Cash, Cash Equivalents and Restricted Cash, Beginning of the Year 19.7 28.4 24.5
Cash, Cash Equivalents and Restricted Cash, End of the Year 287.7 19.7 28.4
Reconciliation of Cash, Cash Equivalents, and Restricted Cash, at End of the Year:      
Cash and Cash Equivalents 282.4 14.4 21.2
Restricted Cash 5.3 5.3 7.2
Total Cash, Cash Equivalents and Restricted Cash, End of the Year 287.7 19.7 28.4
Supplemental Cash Flow Information:      
Interest paid, net of capitalized interest 19.3 26.2 22.0
Income tax paid, net of income tax refunds 241.6 (16.1) (24.2)
Non-cash Information:      
Capital expenditures included in accounts payable, accruals and other liabilities $ 6.4 $ 24.7 $ 8.5