SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

SIGNIFICANT ACCOUNTING POLICIES

Schedule of fair value measurement

.  The carrying value and fair value of the Company’s financial instruments as of December 31, 2016 and 2015 are as follows (in millions).

					Quoted Prices in		Significant		Significant
	Total				Active Markets		Observable		Unobservable
	Carrying Value		Total		(Level 1)		Inputs (Level 2)		Inputs (Level 3)
	December 31, 2016		Fair Value Measurements at December 31, 2016
Cash and cash equivalents	$	13.9	$	13.9	$	13.9	$	—	$	—
Accounts receivable, net		189.5		189.5		—		189.5		—
Capital Construction Fund - cash on deposit		31.2		31.2		—		31.2		—
Variable rate debt		55.0		55.0		—		55.0		—
Fixed rate debt		683.9		685.2		—		685.2		—

	December 31, 2015		Fair Value Measurements at December 31, 2015
Cash and cash equivalents	$	25.5	$	25.5	$	25.5	$	—	$	—
Accounts receivable, net		192.8		192.8		—		192.8		—
Fixed rate debt		429.9		443.8		—		443.8		—

Schedule of changes in the allowance for doubtful accounts receivable

The changes in the allowance for doubtful accounts receivable for the three years ended December 31, 2016 were as follows (in millions):

	Balance at		Expense		Write-offs		Balance at
Year	Beginning of Year		(Recovery)		and Other		End of Year
2016 (1)	$	6.6	$	(0.3)	$	(2.1)	$	4.2
2015	$	5.0	$	2.0	$	(0.4)	$	6.6
2014	$	4.1	$	1.8	$	(0.9)	$	5.0

(1) 2016 expense includes amounts recovered from previously reserved doubtful accounts.

Schedule of prepaid expenses and other assets

Prepaid expenses and other assets consist of the following at December 31, 2016 and 2015 (in millions):

	As of December 31,
Prepaid Expenses and Other Assets	2016		2015
Income tax receivables	$	23.4	$	15.1
Insurance related receivables		17.6		18.3
Prepaid fuel		11.5		9.3
Other		18.3		16.9
Total	$	70.8	$	59.6

Schedule of estimated useful lives of property and equipment

Classification	Life
Vessels	40 years
Machinery and equipment	20 years
Terminal facilities	35 years

Schedule of accrued and other liabilities

Accruals and other liabilities consist of the following at December 31, 2016 and 2015 (in millions):

	As of December 31,
Accruals and Other Liabilities	2016		2015
Payroll and vacation benefits	$	23.3	$	23.1
Uninsured claims and related liabilities - short term		18.4		27.1
Incentives and other benefits		9.6		20.7
Molasses tank farm removal accrual		3.1		7.4
Restructuring and severance accruals related to Horizon		—		5.0
Interest on debt		5.8		3.9
Multi-employer withdrawal liability - short-term (see Note 12)		4.1		4.1
Other liabilities		12.6		19.4
Total	$	76.9	$	110.7

Schedule of changes in accumulated other comprehensive income (loss) by component, net of tax

Changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows (in millions):

					Non-								Accumulated
					Qualified		Foreign						Other
			Post		Pension		Currency		Interest				Comprehensive
	Pensions		Retirement		Plans		Translation		Hedge		Other		Income (Loss)
Balance at December 31, 2014	$	(45.0)	$	(7.2)	$	(0.5)	$	0.3	$	(0.7)	$	(0.2)	$	(53.3)
Net gain (loss) in prior service costs		3.7		1.4		0.5		—		—		(0.5)		5.1
Amortization of prior service cost		(1.3)		0.1		(0.1)		—		—		—		(1.3)
Amortization of net loss (gain)		0.9		1.0		(0.1)		—		—		—		1.8
Foreign currency translation adjustment		—		—		—		0.7		—		—		0.7
Other		—		—		—		—		0.1		—		0.1
Balance at December 31, 2015		(41.7)		(4.7)		(0.2)		1.0		(0.6)		(0.7)		(46.9)
Net gain (loss) in prior service costs		—		0.7		(0.1)		—		—		0.1		0.7
Amortization of prior service cost		(1.4)		—		(0.1)		—		—		0.2		(1.3)
Amortization of net loss (gain)		1.7		(0.4)		—		—		—		(0.1)		1.2
Foreign currency translation adjustment		—		—		—		0.1		—		—		0.1
Other		—		—		—		—		0.1		—		0.1
Balance at December 31, 2016	$	(41.4)	$	(4.4)	$	(0.4)	$	1.1	$	(0.5)	$	(0.5)	$	(46.1)

Schedule of basic and diluted earnings per share

The denominator used to compute basic and diluted earnings per share for the three years ended December 31, 2016, were as follows (in millions):

	Year Ended December 31, 2016					Year Ended December 31, 2015					Year Ended December 31, 2014
			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:	$	80.5	43.1	$	1.87	$	103.0	43.5	$	2.37	$	70.8	43.0	$	1.65
Effect of Dilutive Securities:			0.4		(0.02)			0.5		(0.03)			0.4		(0.02)
Diluted:	$	80.5	43.5	$	1.85	$	103.0	44.0	$	2.34	$	70.8	43.4	$	1.63