XML 32 R2.htm IDEA: XBRL DOCUMENT v3.25.0.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Value of Initial Fixed $100

​

​

​

 

​

​

​

​

​

​

Average Summary

​

​

​

​

​

​

​

​

​

​

​

    

Summary 

    

​

    

Compensation

    

Average

    

​

    

Peer Group

    

​

    

​

​

​

Compensation

​

Compensation

​

Table Total for

​

Compensation

​

Total

​

Total

​

​

​

​

Fiscal

​

Table Total For 

​

Actually Paid

​

Non-PEO NEOs

​

Actually Paid Non-

​

Shareholder

​

Shareholder

​

Net Income

​

EBITDA(6)

Year

​

PEO ($)(1)

​

to PEO ($)(2)

​

($)(3)

​

PEO NEOs ($)(4)

​

Return (TSR)

​

Return(5)

​

($ in millions)

​

($ in millions)

(a)

 

(b)

 

(c)

 

(d)

 

(e)

 

(f)

 

(g)

 

(h)

 

(i)

2020

​

5,477,333

​

15,959,815

​

1,966,849

​

4,478,273

​

143

​

112

​

193.1

​

423.7

2021

 

5,957,058

 

18,441,621

 

2,131,642

 

5,339,084

 

229

 

151

 

927.4

 

1,350.3

2022

 

6,027,870

 

838,314

 

2,076,267

 

719,551

 

162

 

108

 

1,063.9

 

1,526.2

2023

 

6,165,815

 

18,796,575

 

2,080,781

 

5,304,691

 

288

 

136

 

297.1

 

516.7

2024

 

6,146,934

​

12,582,624

​

2,147,773

​

3,712,399

​

358

​

143

​

476.4

​

738.9

(1)

The dollar amounts reported are the amounts of total compensation reported in the Summary Compensation Table (“SCT”) for our CEO (“Principal Executive Officer” or “PEO”).

(2)

The dollar amounts reported represent the amount of CAP for the PEO, as computed in accordance with SEC rules. The dollar amounts do not reflect the actual amount of compensation earned by or paid to an executive during the applicable year. CAP includes year-over-year changes in the value of unvested equity awards, and therefore may not reflect the value ultimately realized upon vesting of the awards. In accordance with SEC rules, the following adjustments were made to total compensation to determine the CAP:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Less SCT

    

Less SCT

    

Plus CAP

    

Plus CAP

    

​

​

​

SCT

​

Stock

​

Pension

​

Equity

​

Pension

​

Compensation

​

​

Total

​

Awards

​

Value

​

Adjustment

​

Adjustment

​

Actually Paid

Year

​

($)

​

($)(a)

​

($)(b)

​

($)(c)

​

($)(d)

​

($)

2020

 

5,477,333

 

2,662,521

 

362,244

 

13,411,142

 

96,105

 

15,959,815

2021

 

5,957,058

 

3,184,092

 

112,142

 

15,679,416

 

101,381

 

18,441,621

2022

​

6,027,870

 

3,341,181

 

—

 

(1,978,185)

 

129,810

 

838,314

2023

 

6,165,815

 

3,237,822

 

196,171

 

15,988,677

 

76,076

 

18,796,575

2024

​

6,146,934

​

3,299,485

​

52,827

​

9,670,679

​

117,323

​

12,582,624

(a)

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.

(b)

Represents change in actuarial present value of defined benefit retirement plans for the covered fiscal year.

(c)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; and (iii) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value. For 2024, continued share price appreciation drove a positive equity award adjustment. The amounts deducted or added in calculating the equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

    

Year-End

    

Year Over Year Change in 

    

Change

    

​

​

​

Fair Value of

​

Fair Value of Outstanding

​

in Fair Value of Equity

​

​

​

​

Equity Awards 

​

and Unvested

​

Awards Granted in

​

Total Equity 

​

​

Granted

​

Equity Awards

​

Prior Years that Vested

​

Award

​

​

During the Year

​

Granted in Prior Years

​

in the Year(e)

​

Adjustments

Year

​

($)

​

($)

​

($)

​

($)

2020

 

6,279,437

 

7,257,784

 

(126,079)

 

13,411,142

2021

 

6,804,516

 

7,725,233

 

1,149,667

 

15,679,416

2022

 

1,981,115

 

(4,447,058)

 

487,758

 

(1,978,185)

2023

 

8,918,914

 

7,009,449

 

60,314

 

15,988,677

2024

 

5,789,183

​

3,493,546

​

387,950

​

9,670,679

​

(d)

Represents defined benefit retirement plan service cost attributed to services rendered during the covered fiscal year.

(e)

Represents change in fair value from prior year end to vesting date.

(3)

The dollar amounts reported represent the average of the amounts reported for the Company’s NEOs as a group (excluding our CEO) in the “Total” column of the SCT in each applicable year. The names of each of the NEOs (excluding our CEO) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, 2023 and 2024, Joel M. Wine, Peter T. Heilmann, John P. Lauer, and Rusty K. Rolfe; and (ii) for 2021 and 2020, Joel M. Wine, Ronald J. Forest, Peter T. Heilmann, and John P. Lauer.

(4)

The dollar amounts reported represent the average amount of CAP for the NEOs as a group (excluding our CEO), as computed in accordance with SEC rules. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding our CEO) during the applicable year. CAP includes year-over-year changes in the value of unvested equity awards, and therefore may not reflect the value ultimately realized upon vesting of the awards. In accordance with SEC rules, the following adjustments were made to average total compensation for the NEOs as a group (excluding our CEO) for each year to determine the CAP:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Less SCT

    

Less SCT

    

Plus CAP

    

Plus CAP

    

​

​

​

SCT 

​

Stock

​

Pension

​

Equity

​

Pension

​

Compensation

​

​

Total

​

Awards

​

Value

​

Adjustment

​

Adjustment

​

Actually Paid

Year

​

($)

​

($)(a)

​

($)(b)

​

($)(c)

​

($)(d)

​

($)

2020

 

1,966,849

 

753,591

 

83,785

 

3,311,416

 

37,384

 

4,478,273

2021

 

2,131,642

 

878,384

 

28,243

 

4,075,589

 

38,480

 

5,339,084

2022

 

2,076,267

 

891,106

 

—

 

(512,818)

 

47,208

 

719,551

2023

 

2,080,781

 

809,446

 

86,829

 

4,087,803

 

32,383

 

5,304,691

2024

 

2,147,773

​

825,046

​

103,743

​

2,443,887

​

49,528

​

3,712,399

(a)

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.

(b)

Represents change in actuarial present value of defined benefit retirement plans for the covered fiscal year.

(c)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; and (iii) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value. For 2024, continued share price appreciation drove a positive equity award adjustment. The amounts deducted or added in calculating the equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

    

Year-End

    

Year Over Year Change in 

    

Change in

    

​

​

​

Fair Value of

​

Fair Value of Outstanding

​

Fair Value of Equity

​

​

​

​

Equity Awards

​

and Unvested

​

Awards Granted in

​

Total Equity

​

​

Granted

​

Equity Awards

​

Prior Years that Vested

​

Award

​

​

During the Year

​

Granted in Prior Years

​

in the Year(e)

​

Adjustments

Year

​

($)

​

($)

​

($)

​

($)

2020

 

1,777,310

 

1,596,777

 

(62,671)

 

3,311,416

2021

 

1,877,186

 

1,937,980

 

260,423

 

4,075,589

2022

 

528,368

 

(1,140,610)

 

99,424

 

(512,818)

2023

 

2,229,738

 

1,842,615

 

15,450

 

4,087,803

2024

 

1,447,645

 

896,160

 

100,082

 

2,443,887

​

(d)

Represents defined benefit retirement plan service cost attributed to services rendered during the covered fiscal year.

(e)

Represents change in fair value from prior year end to vesting date.

(5)

S&P Transportation Select Industry Index

(6)

See Exhibit B for a reconciliation of net income to EBITDA.

       
Company Selected Measure Name EBITDA(6)        
Named Executive Officers, Footnote

(3)

The dollar amounts reported represent the average of the amounts reported for the Company’s NEOs as a group (excluding our CEO) in the “Total” column of the SCT in each applicable year. The names of each of the NEOs (excluding our CEO) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, 2023 and 2024, Joel M. Wine, Peter T. Heilmann, John P. Lauer, and Rusty K. Rolfe; and (ii) for 2021 and 2020, Joel M. Wine, Ronald J. Forest, Peter T. Heilmann, and John P. Lauer.

       
Peer Group Issuers, Footnote

(5)

S&P Transportation Select Industry Index

       
PEO Total Compensation Amount $ 6,146,934 $ 6,165,815 $ 6,027,870 $ 5,957,058 $ 5,477,333
PEO Actually Paid Compensation Amount $ 12,582,624 18,796,575 838,314 18,441,621 15,959,815
Adjustment To PEO Compensation, Footnote

(2)

The dollar amounts reported represent the amount of CAP for the PEO, as computed in accordance with SEC rules. The dollar amounts do not reflect the actual amount of compensation earned by or paid to an executive during the applicable year. CAP includes year-over-year changes in the value of unvested equity awards, and therefore may not reflect the value ultimately realized upon vesting of the awards. In accordance with SEC rules, the following adjustments were made to total compensation to determine the CAP:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Less SCT

    

Less SCT

    

Plus CAP

    

Plus CAP

    

​

​

​

SCT

​

Stock

​

Pension

​

Equity

​

Pension

​

Compensation

​

​

Total

​

Awards

​

Value

​

Adjustment

​

Adjustment

​

Actually Paid

Year

​

($)

​

($)(a)

​

($)(b)

​

($)(c)

​

($)(d)

​

($)

2020

 

5,477,333

 

2,662,521

 

362,244

 

13,411,142

 

96,105

 

15,959,815

2021

 

5,957,058

 

3,184,092

 

112,142

 

15,679,416

 

101,381

 

18,441,621

2022

​

6,027,870

 

3,341,181

 

—

 

(1,978,185)

 

129,810

 

838,314

2023

 

6,165,815

 

3,237,822

 

196,171

 

15,988,677

 

76,076

 

18,796,575

2024

​

6,146,934

​

3,299,485

​

52,827

​

9,670,679

​

117,323

​

12,582,624

(a)

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.

(b)

Represents change in actuarial present value of defined benefit retirement plans for the covered fiscal year.

(c)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; and (iii) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value. For 2024, continued share price appreciation drove a positive equity award adjustment. The amounts deducted or added in calculating the equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

    

Year-End

    

Year Over Year Change in 

    

Change

    

​

​

​

Fair Value of

​

Fair Value of Outstanding

​

in Fair Value of Equity

​

​

​

​

Equity Awards 

​

and Unvested

​

Awards Granted in

​

Total Equity 

​

​

Granted

​

Equity Awards

​

Prior Years that Vested

​

Award

​

​

During the Year

​

Granted in Prior Years

​

in the Year(e)

​

Adjustments

Year

​

($)

​

($)

​

($)

​

($)

2020

 

6,279,437

 

7,257,784

 

(126,079)

 

13,411,142

2021

 

6,804,516

 

7,725,233

 

1,149,667

 

15,679,416

2022

 

1,981,115

 

(4,447,058)

 

487,758

 

(1,978,185)

2023

 

8,918,914

 

7,009,449

 

60,314

 

15,988,677

2024

 

5,789,183

​

3,493,546

​

387,950

​

9,670,679

​

(d)

Represents defined benefit retirement plan service cost attributed to services rendered during the covered fiscal year.

(e)

Represents change in fair value from prior year end to vesting date.

       
Non-PEO NEO Average Total Compensation Amount $ 2,147,773 2,080,781 2,076,267 2,131,642 1,966,849
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,712,399 5,304,691 719,551 5,339,084 4,478,273
Adjustment to Non-PEO NEO Compensation Footnote

(4)

The dollar amounts reported represent the average amount of CAP for the NEOs as a group (excluding our CEO), as computed in accordance with SEC rules. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding our CEO) during the applicable year. CAP includes year-over-year changes in the value of unvested equity awards, and therefore may not reflect the value ultimately realized upon vesting of the awards. In accordance with SEC rules, the following adjustments were made to average total compensation for the NEOs as a group (excluding our CEO) for each year to determine the CAP:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Less SCT

    

Less SCT

    

Plus CAP

    

Plus CAP

    

​

​

​

SCT 

​

Stock

​

Pension

​

Equity

​

Pension

​

Compensation

​

​

Total

​

Awards

​

Value

​

Adjustment

​

Adjustment

​

Actually Paid

Year

​

($)

​

($)(a)

​

($)(b)

​

($)(c)

​

($)(d)

​

($)

2020

 

1,966,849

 

753,591

 

83,785

 

3,311,416

 

37,384

 

4,478,273

2021

 

2,131,642

 

878,384

 

28,243

 

4,075,589

 

38,480

 

5,339,084

2022

 

2,076,267

 

891,106

 

—

 

(512,818)

 

47,208

 

719,551

2023

 

2,080,781

 

809,446

 

86,829

 

4,087,803

 

32,383

 

5,304,691

2024

 

2,147,773

​

825,046

​

103,743

​

2,443,887

​

49,528

​

3,712,399

(a)

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.

(b)

Represents change in actuarial present value of defined benefit retirement plans for the covered fiscal year.

(c)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; and (iii) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value. For 2024, continued share price appreciation drove a positive equity award adjustment. The amounts deducted or added in calculating the equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

    

Year-End

    

Year Over Year Change in 

    

Change in

    

​

​

​

Fair Value of

​

Fair Value of Outstanding

​

Fair Value of Equity

​

​

​

​

Equity Awards

​

and Unvested

​

Awards Granted in

​

Total Equity

​

​

Granted

​

Equity Awards

​

Prior Years that Vested

​

Award

​

​

During the Year

​

Granted in Prior Years

​

in the Year(e)

​

Adjustments

Year

​

($)

​

($)

​

($)

​

($)

2020

 

1,777,310

 

1,596,777

 

(62,671)

 

3,311,416

2021

 

1,877,186

 

1,937,980

 

260,423

 

4,075,589

2022

 

528,368

 

(1,140,610)

 

99,424

 

(512,818)

2023

 

2,229,738

 

1,842,615

 

15,450

 

4,087,803

2024

 

1,447,645

 

896,160

 

100,082

 

2,443,887

​

(d)

Represents defined benefit retirement plan service cost attributed to services rendered during the covered fiscal year.

(e)

Represents change in fair value from prior year end to vesting date.

       
Compensation Actually Paid vs. Total Shareholder Return

Graphic

* Cumulative value of $100 invested in Matson common stock on December 31, 2019, including reinvestments of dividends

       
Compensation Actually Paid vs. Net Income

Graphic

       
Compensation Actually Paid vs. Company Selected Measure

Graphic

       
Total Shareholder Return Vs Peer Group

Cumulative Five-Year Total Shareholder Return
Matson, Inc. and S&P Transportation Select Industry Index

Graphic

​

       
Tabular List, Table
●EBITDA
●Individual Performance Goals
●Relative TSR
●ROIC
       
Total Shareholder Return Amount $ 358 288 162 229 143
Peer Group Total Shareholder Return Amount 143 136 108 151 112
Net Income (Loss) $ 476,400,000 $ 297,100,000 $ 1,063,900,000 $ 927,400,000 $ 193,100,000
Company Selected Measure Amount 738,900,000 516,700,000 1,526,200,000 1,350,300,000 423,700,000
PEO Name Matthew J. Cox        
Measure:: 1          
Pay vs Performance Disclosure          
Name EBITDA        
Non-GAAP Measure Description

(6)

See Exhibit B for a reconciliation of net income to EBITDA.

       
Measure:: 2          
Pay vs Performance Disclosure          
Name Individual Performance Goals        
Measure:: 3          
Pay vs Performance Disclosure          
Name Relative TSR        
Measure:: 4          
Pay vs Performance Disclosure          
Name ROIC        
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (52,827) $ (196,171)   $ (112,142) $ (362,244)
PEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 117,323 76,076 $ 129,810 101,381 96,105
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (3,299,485) (3,237,822) (3,341,181) (3,184,092) (2,662,521)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 9,670,679 15,988,677 (1,978,185) 15,679,416 13,411,142
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,789,183 8,918,914 1,981,115 6,804,516 6,279,437
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,493,546 7,009,449 (4,447,058) 7,725,233 7,257,784
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 387,950 60,314 487,758 1,149,667 (126,079)
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (103,743) (86,829)   (28,243) (83,785)
Non-PEO NEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 49,528 32,383 47,208 38,480 37,384
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (825,046) (809,446) (891,106) (878,384) (753,591)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,443,887 4,087,803 (512,818) 4,075,589 3,311,416
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,447,645 2,229,738 528,368 1,877,186 1,777,310
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 896,160 1,842,615 (1,140,610) 1,937,980 1,596,777
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 100,082 $ 15,450 $ 99,424 $ 260,423 $ (62,671)