SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of breakdown of separation cash outflows

The breakdown of Separation cash outflows were as follows (in millions):

	Separation Cash Outflows
Capital contribution to A&B	$	155.7
Separation costs	8.6
Capitalized debt financing costs	1.9
Total cash outflow related to the Separation	$	166.2

Schedule of fair value measurement

	Carrying Value at		Fair Value Measurements at
	December 31, 2012		December 31, 2012
(in millions)	Total		Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash & cash equivalents	$	19.9	$	19.9	$	19.9	$	—	$	—
Accounts and notes receivable	174.7		174.7		—		174.7		—
Variable rate debt	24.0		24.0		—		24.0		—
Fixed rate debt	295.1		316.8		—		316.8		—

	Carrying Value at		Fair Value Measurements a
	December 31, 2011		December 31, 2011
(in millions)	Total		Total		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash & cash equivalents	$	9.8	$	9.8	$	9.8	$	—	$	—
Accounts and notes receivable	167.7		167.7		—		167.7		—
Variable rate debt	61.0		61.0		—		61.0		—
Fixed rate debt	136.5		148.1		—		148.1		—

Schedule of changes in the allowance for doubtful accounts, included on the consolidated balance sheets as an offset to Accounts and notes receivable

The changes in the allowance for doubtful accounts, included on the consolidated balance sheets as an offset to “Accounts and notes receivable,” for the three years ended December 31, 2012 were as follows (in millions):

	Balance at Beginning of year		Expense		Write-offs and Other			Balance at End of Year
2012	$	5.3	$	0.7	$	(1.3	)	$	4.7
2011	$	6.1	$	—	$	(0.8	)	$	5.3
2010	$	8.1	$	—	$	(2.0	)	$	6.1

Schedule of estimated useful lives of property

Classification	Range of Life (in years)
Vessels	10 to 40
Machinery and equipment	2 to 20
Terminal facilities	3 to 35

Schedule of changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2012 and 2011 were as follows (in millions):

	Goodwill
Balance, December 31, 2010	$	27.0
Additions	—
Balance, December 31, 2011	27.0
Additions	—
Balance, December 31, 2012	$	27.0

Schedule of intangible assets

Intangible assets for the years ended December 31 included the following (in millions):

	2012								2011
	Gross								Gross
	Carrying		Impairment			Accumulated			Carrying		Accumulated
	Amount		Charges			Amortization			Amount		Amortization
Amortized intangible assets:
Customer lists	$	11.8	$	(2.1	)	$	(6.2	)	$	11.8	$	(5.6	)
Other	3.8		—			(3.4		)	3.8		(3.3		)
Total assets	$	15.6	$	(2.1	)	$	(9.6	)	$	15.6	$	(8.9	)

Schedule of estimated amortization expenses related to intangibles

Estimated amortization expenses related to intangibles over the next five years are as follows (in millions):

	Estimated Amortization
2013	$		0.7
2014	0.7
2015	0.7
2016	0.7
2017	0.7
Thereafter	0.4
Total	$	3.9

Schedule of Basic and Diluted Earnings Per Share

The denominator used to compute basic and diluted earnings per share is as follows (in millions):

	Year Ended December 31, 2012							Year Ended December 31, 2011							Year Ended December 31, 2010
				Weighted	Per						Weighted	Per					Weighted	Per
				Average	Common						Average	Common					Average	Common
	Net			Common	Share			Net			Common	Share			Net		Common	Share
	Income			Shares	Amount			Income			Shares	Amount			Income		Shares	Amount
Basic:
Income from continuing operations	$	52.0		42.3	$	1.23		$	45.8		41.6	$	1.10		$	70.5	41.2	$	1.71
(Loss) income from discontinued operations	(6.1		)	42.3	(0.14		)	(11.6		)	41.6	(0.28		)	21.6		41.2	0.52
	45.9				$	1.09		34.2				$	0.82		92.1			$	2.23
Effect of Dilutive Securities				0.4							0.4						0.3
Diluted:
Income from continuing operations	52.0			42.7	1.22			45.8			42.0	1.09			70.5		41.5	1.70
(Loss) income from discontinued operations	(6.1		)	42.7	(0.14		)	(11.6		)	42.0	(0.28		)	21.6		41.5	0.52
	$	45.9			$	1.08		$	34.2			$	0.81		$	92.1		$	2.22