Alexander & Baldwin (ALEX) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2018shares
Document and Entity Information [Abstract]
Entity Registrant Information	Alexander & Baldwin, Inc.
Entity Central Index Key	1,545,654
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	71,952,944
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating Revenue:
Commercial Real Estate	$ 35.2	$ 33.7
Land Operations	29.3	11
Materials & Construction	48.8	48.5
Total operating revenue	113.3	93.2
Operating Costs and Expenses:
Cost of Commercial Real Estate	18.6	18.8
Cost of Land Operations	29.8	8.4
Cost of Materials & Construction	42.9	39.1
Selling, general and administrative	15	14.7
REIT evaluation/conversion costs	0	4.8
Total operating costs and expenses	106.3	85.8
Operating Income (Loss)	7	7.4
Other Income and (Expenses):
Income (loss) related to joint ventures	(2.6)	1.3
Reductions in solar investments, net	(0.1)	(2)
Interest and other income, net	(0.7)	0.3
Interest expense	(8.4)	(6.2)
Income (Loss) from Continuing Operations Before Income Taxes and Net Gain (Loss) on Sale of Improved Properties and Ground Leased Land	(4.8)	0.8
Income tax benefit (expense)	2.7	0.8
Income (Loss) from Continuing Operations Before Net Gain (Loss) on Sale of Improved Properties and Ground Leased Land	(2.1)	1.6
Net gain (loss) on the sale of improved properties and ground leased land	49.6	3
Income (Loss) from Continuing Operations	47.5	4.6
Income (loss) from discontinued operations, net of income taxes	(0.1)	2.4
Net Income (Loss)	47.4	7
Income attributable to noncontrolling interest	(0.1)	(0.7)
Net Income (Loss) Attributable to A&B Shareholders	$ 47.3	$ 6.3
Basic Earnings (Loss) Per Share of Common Stock:
Continuing operations available to A&B shareholders (in dollars per share)	$ 0.71	$ 0.09
Discontinued operations available to A&B shareholders (in dollars per share)		0.05
Basic (in dollars per share)	0.71	0.14
Diluted Earnings (Loss) Per Share of Common Stock:
Continuing operations available to A&B shareholders (in dollars per share)	0.66	0.09
Discontinued operations available to A&B shareholders (in dollars per share)		0.05
Diluted (in dollars per share)	$ 0.66	$ 0.14
Weighted-Average Number of Shares Outstanding:
Basic (in shares)	66.4	49.1
Diluted (in shares)	72.2	49.6
Amounts Available to A&B Shareholders (Note 4):
Continuing operations available to A&B shareholders, net of income taxes	$ 47.4	$ 4.4
Income (loss) from discontinued operations, net of income taxes	(0.1)	2.4
Net income (loss) available to A&B shareholders	$ 47.3	$ 6.8

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 47.4	$ 7
Other Comprehensive Income (Loss), net of tax:
Unrealized interest rate hedging gain (loss)	1.8	0
Reclassification adjustment for interest expense included in net income or loss	0	0.2
Defined benefit pension plans:
Amortization of net loss included in net periodic pension credit	1	1.2
Amortization of prior service credit included in net periodic pension cost	(0.2)	(0.3)
Income taxes related to other comprehensive income	(0.7)	(0.4)
Other comprehensive income (loss), net of tax	1.9	0.7
Comprehensive Income (Loss)	49.3	7.7
Comprehensive income (loss) attributable to noncontrolling interest	(0.1)	(0.7)
Comprehensive Income (Loss) Attributable to A&B Shareholders	$ 49.2	$ 7

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 26.5	$ 68.9
Accounts receivable, net	37.5	34.1
Contracts retention	12.7	13.2
Costs and estimated earnings in excess of billings on uncompleted contracts	16.2	20.2
Inventories	29.6	31.9
Real estate held for sale	15.6	67.4
Income tax receivable	25.7	27.7
Prepaid expenses and other assets	14.7	11.4
Total current assets	178.5	274.8
Investments in Affiliates	397	401.7
Real Estate Developments	142	151
Property – Net	1,317.6	1,147.5
Intangible Assets – Net	80.5	46.9
Deferred Tax Asset	18.6	16.5
Goodwill	102.3	102.3
Restricted Cash	17.1	34.3
Other Assets	57.1	56.2
Total assets	2,310.7	2,231.2
Current Liabilities:
Notes payable and current portion of long-term debt	42.8	46
Accounts payable	32.6	43.3
Billings in excess of costs and estimated earnings on uncompleted contracts	3.9	5.7
Accrued interest	5.4	6.5
Deferred revenue	3	0.9
Indemnity holdback related to Grace acquisition	9.3	9.3
HC&S cessation-related liabilities	4.4	4.6
Accrued dividends	0	783
Accrued and other liabilities	21.9	27.5
Total current liabilities	123.3	926.8
Long-term Liabilities:
Long-term debt	795.8	585.2
Accrued pension and post-retirement benefits	20.1	19.9
Other non-current liabilities	38.3	40.2
Total long-term liabilities	854.2	645.3
Total liabilities	977.5	1,572.1
Commitments and Contingencies
Redeemable Noncontrolling Interest	8	8
Equity:
Common stock	1,789.4	1,161.7
Accumulated other comprehensive loss	(40.4)	(42.3)
Distributions in excess of accumulated earnings	(428.4)	(473)
Total A&B shareholders' equity	1,320.6	646.4
Noncontrolling interest	4.6	4.7
Total equity	1,325.2	651.1
Total liabilities and equity	$ 2,310.7	$ 2,231.2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows from Operating Activities:
Net Income (Loss)	$ 47.4	$ 7
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:
Depreciation and amortization	10.2	10.5
Deferred income taxes	(2.7)	0.8
Gains on asset transactions, net of asset write-downs	(50)	(7.9)
Share-based compensation expense	1.3	1.1
Investments in affiliates, net of distributions	4.8	7.8
Changes in operating assets and liabilities:
Trade, contracts retention, and other receivables	(4.2)	4.2
Costs and estimated earnings in excess of billings on uncompleted contracts - net	2.1	(2.8)
Inventories	2.3	15.2
Prepaid expenses, income tax receivable and other assets	(1.4)	(2.8)
Accrued pension and post-retirement benefits	1.1	0.3
Accounts payable	(8.7)	(3.2)
Accrued and other liabilities	(8.6)	(38.2)
Real estate inventory sales (real estate developments held for sale)	22.1	2.3
Expenditures for real estate inventory (real estate developments held for sale)	(7.2)	(4.9)
Net cash provided by (used in) operations	8.5	(10.6)
Cash Flows from Investing Activities:
Capital expenditures for acquisitions	(194.7)	0
Capital expenditures for property, plant and equipment	(12.7)	(6.1)
Proceeds from disposal of property and other assets	155.4	8
Payments for purchases of investments in affiliates and other investments	(9.2)	(14.5)
Proceeds from investments in affiliates and other investments	5.1	0.6
Net cash provided by (used in) investing activities	(56.1)	(12)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt	504.1	57
Payments of long-term debt and deferred financing costs	(355.7)	(19)
Borrowings (payments) on line-of-credit agreement, net	(2.3)	6.9
Distribution to noncontrolling interests	0	(0.2)
Cash dividends paid	(156.6)	(3.4)
Proceeds from issuance (repurchase) of capital stock and other, net	(1.5)	(4)
Net cash provided by (used in) financing activities	(12)	37.3
Cash, Cash Equivalents and Restricted Cash:
Net increase (decrease) in cash, cash equivalents, and restricted cash	(59.6)	14.7
Balance, beginning of period	103.2	12.3
Balance, end of period	43.6	27
Other Cash Flow Information:
Interest paid, net of capitalized interest	(9.4)	(8.6)
Income taxes paid	0	(0.3)
Noncash Investing and Financing Activities:
Uncollected proceeds from disposal of equipment	0	4.4
Capital expenditures included in accounts payable and accrued expenses	1.2	1.5
Fair value of loan assumed in connection with acquisition	61	0
Issuance of shares for stock dividend	626.4	0
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents, beginning of period	68.9	2.2
Cash and cash equivalents, end of period	26.5	15.3
Restricted cash, beginning of period	34.3	10.1
Restricted cash, end of period	17.1	11.7
Cash, Cash Equivalents and Restricted Cash	$ 103.2	$ 12.3

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	AOCI Attributable to Parent	Retained Earnings	Non- controlling interest	Redeemable Noncontrolling Interest
Beginning balance, shares at Dec. 31, 2016		49
Beginning balance at Dec. 31, 2016	$ 1,213.2	$ 1,157.3	$ (43.2)	$ 95.2	$ 3.9
Total Equity
Net income (loss)	6.5			6.3	0.2
Other comprehensive income, net of tax	0.7		0.7
Dividends paid on common stock	(3.4)			(3.4)
Distributions to noncontrolling interest	(0.2)				(0.2)	$ 0
Adjustments to redemption value of redeemable noncontrolling interest	0.5			0.5
Share-based compensation	1.1	$ 1.1
Shares issued or repurchased, net, shares		0.1
Shares issued or repurchased, net	(3.9)	$ (0.7)		(3.2)
Ending balance at Mar. 31, 2017	1,214.5	$ 1,157.7	(42.5)	95.4	3.9
Ending balance, shares at Mar. 31, 2017		49.1
Redeemable Non-Controlling Interest, beginning balance at Dec. 31, 2016						10.8
Redeemable Non-Controlling Interest
Less: Undistributed earnings allocated to redeemable noncontrolling interest	0.5					0.5
Redeemable Non-Controlling Interest, Distributions to noncontrolling interest	(0.2)				(0.2)	0
Redeemable Non-Controlling Interest, Adjustments to redemption value of redeemable noncontrolling interest						(0.5)
Redeemable Non-Controlling Interest, ending balance at Mar. 31, 2017						10.8
Total Equity
Impact of adoption of ASU 2014-09	(1.4)			(1.4)
Beginning balance, shares at Dec. 31, 2017		49.3
Beginning balance at Dec. 31, 2017	651.1	$ 1,161.7	(42.3)	(473)	4.7
Total Equity
Net income (loss)	47.2			47.3	(0.1)
Other comprehensive income, net of tax	1.9		1.9
Stock dividends (in shares)		22.6
Stock dividend ($11.65 per share)	626.4	$ 626.4
Adjustments to redemption value of redeemable noncontrolling interest	0.2			0.2
Share-based compensation	1.3	$ 1.3
Shares issued or repurchased, net, shares		0.1
Shares issued or repurchased, net	(1.5)			(1.5)
Ending balance at Mar. 31, 2018	$ 1,325.2	$ 1,789.4	$ (40.4)	$ (428.4)	$ 4.6
Ending balance, shares at Mar. 31, 2018	72	72
Redeemable Non-Controlling Interest, beginning balance at Dec. 31, 2017	$ 8					8
Redeemable Non-Controlling Interest
Less: Undistributed earnings allocated to redeemable noncontrolling interest	0					0.2
Redeemable Non-Controlling Interest, Adjustments to redemption value of redeemable noncontrolling interest						(0.2)
Redeemable Non-Controlling Interest, ending balance at Mar. 31, 2018	$ 8					$ 8

Consolidated Statements of Equ7

Consolidated Statements of Equity (Parenthetical) - $ / shares	Nov. 16, 2017	Mar. 31, 2018	Mar. 31, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 15.92	$ 11.65	$ 0.07

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	DESCRIPTION OF BUSINESS Alexander & Baldwin, Inc. ("A&B" or the "Company") is headquartered in Honolulu and operates three segments: Commercial Real Estate ("CRE"); Land Operations; and Materials & Construction ("M&C"). In the fourth quarter of 2017, the Company completed a conversion process to comply with the requirements to be treated as a real estate investment trust ("REIT") commencing with the taxable year ended December 31, 2017. On November 16, 2017, the Company declared a special distribution to its shareholders in the aggregate amount of $783.0 million (approximately $15.92 per share) (the "Special Distribution") in connection with its conversion to a REIT. On January 23, 2018, the Company completed the Special Distribution to shareholders in the form of $156.6 million of cash dividends and issuance of $626.4 million of common shares. As of March 31, 2018 , the Company had 72.0 million shares outstanding.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The interim condensed consolidated financial statements are unaudited. Because of the nature of the Company's operations, the results for interim periods are not necessarily indicative of results to be expected for the year. While these condensed consolidated financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements. Therefore, the interim condensed consolidated financial statements should be read in conjunction with the consolidated balance sheets as of December 31, 2017 and 2016 , and the related consolidated statements of operations, comprehensive income (loss), equity, and cash flows for each of the three years in the period ended December 31, 2017 and the notes thereto included in the Company's Annual Report filed on Form 10-K for the year ended December 31, 2017 (" 2017 Form 10-K"), and other subsequent filings with the U.S. Securities and Exchange Commission. Reclassifications: Certain amounts in the Company's prior period condensed consolidated financial statements have been reclassified to conform to the current period presentation. In connection with the adoption of Accounting Standards Update ("ASU") 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash , transfers to or from restricted cash which have previously been shown in the Company's investing activities section of the condensed consolidated statements of cash flows are now required to be shown as part of the total change in cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows. This change resulted in a decrease in cash flows used in investing activities of $1.6 million during the three months ended March 31, 2017. Rounding: Amounts in the condensed consolidated financial statements and notes are rounded to the nearest tenth of a million. Accordingly, a recalculation of some per-share amounts and percentages, if based on the reported data, may result in differences. Significant Accounting Policies: The Company's significant accounting policies are described in Note 2 to the consolidated financial statements included in Item 8 of the Company's 2017 Form 10-K. Changes to significant accounting policies are included herein. Revenue recognition Sources of revenue for the Company primarily include sales of real estate, commercial property rentals, material sales, paving construction projects, and real estate development projects. The Company generates revenue from three distinct business segments: Commercial Real Estate: The Commercial Real Estate segment owns, operates, leases, and manages a portfolio of retail, office, and industrial properties in Hawai`i and on the Mainland; it also leases urban land in Hawai`i to third-party lessees. Commercial Real Estate revenue is recognized on a straight-line basis over the term of the corresponding lease. Also included in rental revenues are certain tenant reimbursements and percentage rents determined in accordance with the terms of the lease. The Company records revenue for real estate taxes paid by its tenants for commercial properties with an offsetting expense in Cost of Commercial Real Estate in the accompanying condensed consolidated statement of operations, as the Company has concluded it is the primary obligor. Land Operations: Revenues from sales of real estate are recognized at the point in time when control of the underlying goods is transferred to the customer and the payment is due (generally on the closing date). For certain development projects the Company will use a percentage of completion for revenue recognition. Under this method, the amount of revenue recognized is based on the development costs that have been incurred throughout the reporting period as a percentage of total expected developments associated with the development project. Materials & Construction: Revenue from the Materials & Construction segment is primarily generated from material sales and paving and construction contracts. The recognition of revenue is based on the underlying terms of the transactions. Materials : Revenues from material sales, which include basalt aggregate, liquid asphalt and hot mix asphalt, are usually recognized at a point in time when control of the underlying goods is transferred to the customers (generally this occurs when materials are picked up by customers or their agents) and when the Company has a present right to payment for materials sold. Construction : The Company's construction contracts generally contain a single performance obligation as the promise to transfer individual goods or services are not separately identifiable from other promises in the contracts and is, therefore, not distinct. Revenue is earned from construction contracts over a period of time as control is continuously transferred to customers. Construction contracts can generally be categorized into two types of contracts with customers based on the respective payment terms; either lump sum or unit priced. Lump sum contracts require the total amount of work be performed under a single fixed price irrespective of actual quantities or actual costs. Earnings on both unit price contracts and lump sum fixed-price paving contracts are recognized using the percentage of completion, cost-to-cost, input method as it is able to faithfully depict the transfer of control of the underlying assets to the customer. Certain construction contracts include retainage provisions. The balances billed but not paid by customers pursuant to these provisions generally become due upon completion and acceptance of the project work or products by the owners. The Company deems its contract prices reflective of the standalone selling prices of the underlying goods and services since the contracts are required to go through competitive bidding process. The Company recognizes revenue on a net basis excluding indirect taxes, such as sales tax and value added tax collected from customers and remitted to government authorities. Interest and other income (expense) Interest and other income (expense), net is primarily comprised of the non-service cost components of pension and postretirement benefit expense and interest income. For the three months ended March 31, 2018 and 2017 , Interest and other income, net included the following: Three Months Ended March 31, (in millions) 2018 2017 Pension and postretirement benefit expense $ (0.7 ) $ (0.7 ) Interest income 0.1 1.0 Other income (expense) (0.1 ) — Interest and other income (expense), net $ (0.7 ) $ 0.3 New accounting pronouncements In May 2014, Financial Accounting Standards Board (the "FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") to provide guidance for revenue recognition and has superseded the revenue recognition requirements in FASB Accounting Standards Codification Topic 605, Revenue Recognition , (Topic 605) as well as most industry-specific guidance. Under ASU 2014-09, revenue is recognized when a customer obtains control of the promised goods or services in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. The Company adopted the provisions of ASU 2014-09 as of January 1, 2018 using the modified retrospective transition method and applied ASU 2014-09 to those contracts that were not completed as of January 1, 2018 and whose revenue was historically accounted for under Topic 605. The cumulative impact of the adoption was a net reduction to other assets and distributions in excess of retained earnings of $1.4 million as of January 1, 2018. In accordance with ASU 2014-09, the disclosure of the impact of adoption to our condensed consolidated balance sheet was as follows (in millions): Balance as of December 31, 2017 Impact of adoption Balance as of January 1, 2018 Other Assets $ 56.2 $ (1.4 ) $ 54.8 Distributions in excess of accumulated earnings $ (473.0 ) $ (1.4 ) $ (474.4 ) The adoption of ASU 2014-09 did not significantly impact the Company's revenue recognition treatment for its Materials & Construction business segment due to the short term duration of the Company's construction contracts. The Company's Commercial Real Estate business segment recognizes its revenue under the accounting framework of ASC 840, Leases and is therefore excluded from the scope of ASU 2014-09. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting . The guidance clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including in any interim period for which financial statements have not yet been issued or made available for issuance. The guidance will be applied prospectively to awards modified on or after the adoption date. The adoption of this standard did not have an impact on the Company's financial position or results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-02"). ASU 2016-02 requires the identification of arrangements that should be accounted for as leases by lessees. In general, lease arrangements exceeding a twelve month term must now be recognized as assets and liabilities on the balance sheet of the lessee. Under ASU 2016-02, a right-of-use asset and lease obligation will be recorded for all leases, whether operating or financing, while the income statement will reflect lease expense for operating leases and amortization/interest expense for financing leases. The balance sheet amount recorded for existing leases at the date of adoption of ASU 2016-02 must be calculated using the applicable incremental borrowing rate at the date of adoption. In addition, ASU 2016-02 requires the use of the modified retrospective method, which will require adjustment to all comparative periods presented in the consolidated financial statements. ASU 2016-02 is effective for financial statements issued for fiscal years beginning after December 15, 2018. In January 2018, the FASB issued ASU No. 2018-01, which amends the Board's new leasing standard, ASU 2016-02, to provide a transition practical expedient that an entity may elect to apply. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The guidance amends the hedge accounting model in ASC 815 to enable entities to better portray the economics of their risk management activities in the financial statements and enhance the transparency and understandability of hedge results. The amendments expand an entity's ability to hedge nonfinancial and financial risk components and reduce complexity in fair value hedges of interest rate risk. This ASU eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. This ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted in any interim period or fiscal year before the effective date. For cash flow and net investment hedges existing at the date of adoption, entities will apply the new guidance using a modified retrospective approach (i.e., with a cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date). The guidance provides transition relief to make it easier for entities to apply certain amendments to existing hedges (including fair value hedges) where the hedge documentation needs to be modified. The presentation and disclosure requirements apply prospectively. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures. In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220) . The guidance permits entities to reclassify tax effects stranded in accumulated other comprehensive income as a result of tax reform to retained earnings, giving entities the option to reclassify these amounts rather than require reclassification. The FASB also gave entities the option to apply the guidance retrospectively or in the period of adoption. When adopted, the standard requires all entities to make new disclosures, regardless of whether they elect to reclassify stranded amounts. Entities are required to disclose whether or not they elected to reclassify the tax effects related to the Tax Cuts and Jobs Act of 2017 as well as their policy for releasing income tax effects from accumulated OCI. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Entities are able to early adopt the guidance in any interim or annual period for which financial statements have not yet been issued and apply it either (1) in the period of adoption or (2) retrospectively to each period in which the income tax effects of the Tax Cuts and Jobs Act of 2017 related to items in accumulated OCI are recognized. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments, Guarantees and Contingencies: Commitments and financial arrangements not recorded on the Company's condensed consolidated balance sheet, excluding lease commitments that are disclosed in Note 9 of the Company's 2017 Form 10-K, included the following (in millions) as of March 31, 2018 : Standby letters of credit (a) $ 11.8 Bonds (b) $ 462.8 (a) Consists of standby letters of credit, issued by the Company’s lenders under the Company’s revolving credit facilities, and relate primarily to the Company’s real estate activities. In the event the letters of credit are drawn upon, the Company would be obligated to reimburse the issuer of the letter of credit. (b) Represents bonds related to construction and real estate activities in Hawai`i. Approximately $438.7 million is related to construction bonds issued by third party sureties (bid, performance and payment bonds) and the remainder is related to commercial bonds issued by third party sureties (permit, subdivision, license and notary bonds). In the event the bonds are drawn upon, the Company would be obligated to reimburse the surety that issued the bond. Indemnity Agreements: For certain real estate joint ventures, the Company may be obligated under bond indemnities to complete construction of the real estate development if the joint venture does not perform. These indemnities are designed to protect the surety in exchange for the issuance of surety bonds that cover joint venture construction activities, such as project amenities, roads, utilities, and other infrastructure, at its joint ventures. Under the indemnities, the Company and its joint venture partners agree to indemnify the surety bond issuer from all losses and expenses arising from the failure of the joint venture to complete the specified bonded construction. The maximum potential amount of aggregate future payments is a function of the amount covered by outstanding bonds at the time of default by the joint venture, reduced by the amount of work completed to date. The recorded amounts of the indemnity liabilities were not material individually or in the aggregate. The Company is a guarantor of indebtedness for certain of its unconsolidated joint ventures' borrowings with third party lenders, relating to the repayment of construction loans and performance of construction for the underlying project. As of March 31, 2018 , the Company's limited guarantees on indebtedness related to three of its unconsolidated joint ventures totaled $5.6 million . The Company has not incurred any significant historical losses related to guarantees on its joint venture indebtedness. Other than obligations described above and those described in the Company's 2017 Form 10-K, obligations of the Company's joint ventures do not have recourse to the Company and the Company's "at-risk" amounts are limited to its investment. Legal Proceedings and Other Contingencies: A&B owns 16,000 acres of watershed lands in East Maui. A&B also held four water licenses to another 30,000 acres owned by the State of Hawai`i in East Maui. The last of these water license agreements expired in 1986, and all four agreements were then extended as revocable permits that were renewed annually. In 2001, a request was made to the State Board of Land and Natural Resources (the "BLNR") to replace these revocable permits with a long-term water lease. Pending the conclusion by the BLNR of this contested case hearing on the request for the long-term lease, the BLNR has kept the existing permits on a holdover basis. Three parties filed a lawsuit on April 10, 2015 (the "4/10/15 Lawsuit") alleging that the BLNR has been renewing the revocable permits annually rather than keeping them in holdover status. The lawsuit asks the court to void the revocable permits and to declare that the renewals were illegally issued without preparation of an environmental assessment ("EA"). In December 2015, the BLNR decided to reaffirm its prior decisions to keep the permits in holdover status. This decision by the BLNR is being challenged by the three parties. In January 2016, the court ruled in the 4/10/15 Lawsuit that the renewals were not subject to the EA requirement, but that the BLNR lacked legal authority to keep the revocable permits in holdover status beyond one year. The court has allowed the parties to make an immediate appeal of this ruling. In May 2016, the Hawai`i State Legislature passed House Bill 2501, which specified that the BLNR has the legal authority to issue holdover revocable permits for the disposition of water rights for a period not to exceed three years. The governor signed this bill into law as Act 126 in June 2016. Pursuant to Act 126, the annual authorization of the existing holdover permits was sought and granted by the BLNR in December 2016 and November 2017. In addition, on May 24, 2001, petitions were filed by a third party, requesting that the Commission on Water Resource Management of the State of Hawai`i ("Water Commission") establish interim instream flow standards ("IIFS") in 27 East Maui streams that feed the Company's irrigation system. The Water Commission initially took action on the petitions in 2008 and 2010, but the petitioners requested a contested case hearing to challenge the Water Commission's decisions on certain petitions. The Water Commission denied the contested case hearing request, but the petitioners successfully appealed the denial to the Hawai`i Intermediate Court of Appeals, which ordered the Water Commission to grant the request. The Commission then authorized the appointment of a hearings officer for the contested case hearing and expanded the scope of the contested case hearing to encompass all 27 petitions for amendment of the IIFS for East Maui streams in 23 hydrologic units. The evidentiary phase of the hearing before the Commission-appointed hearings officer was completed on April 2, 2015. On January 15, 2016, the Commission-appointed hearings officer issued his recommended decision on the petitions. The recommended decision would restore water to streams in 11 of the 23 hydrologic units. In March 2016, the hearings officer ordered a reopening of the contested case proceedings in light of the Company's January 2016 announcement to cease sugar operations at the former Hawaiian Commercial & Sugar Company ("HC&S") by the end of the year and to transition to a new diversified agricultural model on the former sugar lands. In April 2016, the Company announced its commitment to fully and permanently restore the priority taro streams identified by the petitioners. Re-opened evidentiary hearings occurred in the first quarter of 2017 and a decision is pending. In August 2017, the hearings officer in the reopened evidentiary hearing issued his proposed decision. The Commission heard arguments on the proposed decision in October 2017. HC&S also used water from four streams in Central Maui ("Na Wai Eha") to irrigate its agricultural lands in Central Maui. Beginning in 2004, the Water Commission began proceedings to establish IIFS for the Na Wai Eha streams. Before the IIFS proceedings were concluded, the Water Commission designated Na Wai Eha as a surface water management area, meaning that all uses of water from these streams required water use permits issued by the Water Commission. Following contested case proceedings, the Water Commission established IIFS in 2010, but that decision was appealed, and the Hawai`i Supreme Court remanded the case to the Water Commission for further proceedings. The parties to the IIFS contested case settled the case in 2014. Thereafter, proceedings for the issuance of water use permits commenced with over 100 applicants, including HC&S, vying for permits. While the water use permit proceedings were ongoing, A&B announced the cessation of sugar cane cultivation at the end of 2016. This announcement triggered a re-opening and reconsideration of the 2014 IIFS decision. Contested case proceedings were held to simultaneously reconsider the IIFS, determine appurtenant water rights, and consider applications for water use permits. Based on those proceedings, the Hearing Officer issued his recommendation to the Water Commission on November 1, 2017. The Commission has not yet issued its decision. If the Company is not permitted to use sufficient quantities of stream waters, it would have a material adverse effect on the Company's pursuit of a diversified agribusiness model in subsequent years and the value of the Company's agricultural lands. A&B is a party to, or may be contingently liable in connection with, other legal actions arising in the normal conduct of its businesses, the outcomes of which, in the opinion of management after consultation with counsel, would not have a material effect on A&B's consolidated financial statements as a whole.

Earnings Per Share (_EPS_)

Earnings Per Share (“EPS”)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share (“EPS”)	EARNINGS PER SHARE ("EPS") Basic earnings per common share excludes dilution and is calculated by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the period, as adjusted for the potential dilutive effect of non-participating share-based awards as well as adjusted by the number of additional shares, if any, that would have been outstanding had the potentially dilutive common shares been issued. The following table provides a reconciliation of income from continuing operations to income from continuing operations available to A&B shareholders for the three months ended March 31, 2018 and 2017 (in millions): Three Months Ended March 31, 2018 2017 Income (loss) from Continuing Operations, net of income taxes $ 47.5 $ 4.6 Less: Income (loss) attributable to noncontrolling interest (0.1 ) (0.7 ) Income (loss) from continuing operations attributable to A&B shareholders, net of income taxes 47.4 3.9 Undistributed earnings allocated to redeemable noncontrolling interest — 0.5 Income (loss) from continuing operations available to A&B shareholders, net of income taxes 47.4 4.4 Income (loss) from discontinued operations available to A&B shareholders, net of income taxes (0.1 ) 2.4 Net income (loss) available to A&B shareholders $ 47.3 $ 6.8 The number of shares used to compute basic and diluted earnings per share for the three months ended March 31, 2018 and 2017 is as follows (in millions): Three Months Ended March 31, 2018 2017 Denominator for basic EPS - weighted average shares outstanding 66.4 49.1 Effect of dilutive securities: Non-participating stock options and restricted stock unit awards 0.4 0.5 Special Distribution 5.4 — Denominator for diluted EPS - weighted average shares outstanding 72.2 49.6 There were 0.1 million shares of anti-dilutive securities outstanding as of March 31, 2018 and none as of March 31, 2017 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The fair values of cash and cash equivalents, receivables and short-term borrowings approximate their carrying values due to the short-term nature of the instruments. The carrying amount and fair value of the Company's debt at March 31, 2018 was $838.6 million and $807.6 million , respectively, and $631.2 million and $642.3 million at December 31, 2017 respectively. The fair value of debt is calculated by discounting the future cash flows of the debt at rates based on instruments with similar risk, terms and maturities as compared to the Company's existing debt arrangements (level 2).

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are stated at the lower of cost (principally average cost, first-in, first-out basis) or net realizable value. Inventories as of March 31, 2018 and December 31, 2017 were as follows (in millions): March 31, 2018 December 31, 2017 Asphalt $ 9.1 $ 12.2 Processed rock, Portland cement, and sand 14.0 13.5 Work in progress 3.2 2.8 Retail merchandise 1.7 1.7 Parts, materials and supplies inventories 1.6 1.7 Total $ 29.6 $ 31.9

Share-Based Payment Awards

Share-Based Payment Awards	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payment Awards	SHARE-BASED PAYMENT AWARDS The following table summarizes the Company's stock option activity for the three months ended March 31, 2018 (in thousands, except weighted average exercise price and weighted average contractual life): 2012 Plan Weighted- Weighted- Aggregate Outstanding, January 1, 2018 630.5 $ 12.58 Exercised — $ — Forfeited and expired — $ — Outstanding, March 31, 2018 630.5 $ 12.58 2.7 $ 6,679 Vested or expected to vest 630.5 $ 12.58 2.7 $ 6,679 Exercisable, March 31, 2018 630.5 $ 12.58 2.7 $ 6,679 The following table summarizes non-vested restricted stock unit activity for the three months ended March 31, 2018 (in thousands, except weighted-average grant-date fair value amounts): 2012 Plan Weighted- Outstanding, January 1, 2018 318.9 $ 36.66 Anti-dilutive adjustment for Special Distribution 182.9 Granted 210.4 $ 29.89 Vested (116.8 ) $ 24.39 Canceled (39.9 ) $ 24.15 Outstanding, March 31, 2018 555.5 $ 25.34 The time-based restricted stock units vest ratably over 3 years . The market-based performance share units cliff vest over 3 years , provided that the total shareholder return of the Company's common stock over the relevant period meets or exceeds pre-defined levels of total shareholder returns relative to indices, as defined. The fair value of the Company's time-based awards is determined using the Company's stock price on the date of grant. The fair value of the Company's market-based awards is estimated using the Company's stock price on the date of grant and the probability of vesting using a Monte Carlo simulation with the following weighted-average assumptions: 2018 Grants 2017 Grants Volatility of A&B common stock 22.7 % 25.4 % Average volatility of peer companies 21.6 % 25.7 % Risk-free interest rate 2.3 % 1.5 % A summary of compensation cost related to share-based payments for the three months ended March 31, 2018 and 2017 is as follows (in millions): Three Month Ended March 31, 2018 2017 Share-based expense (net of estimated forfeitures): Time-based and market-based restricted stock units $ 1.3 $ 1.1 Total share-based expense 1.3 1.1 Total recognized tax benefit (0.1 ) (0.4 ) Share-based expense (net of tax) $ 1.2 $ 0.7

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Construction Contracts and Material Sales. The Company entered into contracts in the ordinary course of business, as a supplier, with affiliates that are members in entities in which the Company also is a member. Revenues earned from transactions with affiliates were $4.5 million and $3.9 million for the three months ended March 31, 2018 and 2017 , respectively. Receivables from these affiliates were $2.1 million and $2.9 million as of March 31, 2018 and December 31, 2017 . Amounts due to these affiliates were $0.9 million as of March 31, 2018 and immaterial as of December 31, 2017 . Commercial Real Estate. The Company entered into contracts in the ordinary course of business, as a lessor of property, with unconsolidated affiliates in which the Company has an interest, as well as with certain entities that are owned by a director of the Company. Revenues earned from these transactions were $1.5 million and $1.4 million for the three months ended March 31, 2018 and 2017 . Receivables from these affiliates were immaterial as of March 31, 2018 and December 31, 2017 . Land Operations. During the three months ended March 31, 2018 and 2017 , the Company-recorded developer fee revenues were immaterial and $0.7 million related to management and administrative services provided to certain unconsolidated investments in affiliates. Receivables from these affiliates were immaterial as of March 31, 2018 and December 31, 2017 . In 2017, the Company extended a five -year $16.0 million note secured by a mortgage on real property to one of its joint ventures. Receivables from this affiliate were $10.1 million as of March 31, 2018 and immaterial as of December 31, 2017.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS Components of the net periodic benefit cost for the three months ended March 31, 2018 and 2017 are shown below (in millions): Pension Benefits Post-retirement Benefits Three Months Ended March 31, Three Months Ended March 31, Components of Net Periodic Benefit Cost 2018 2017 2018 2017 Service cost $ 0.5 $ 0.8 $ — $ 0.1 Interest cost 1.9 2.1 0.1 0.1 Expected return on plan assets (1.9 ) (2.4 ) — — Amortization of net loss 1.0 1.2 — — Amortization of prior service credit (0.2 ) (0.3 ) — — Net periodic benefit cost $ 1.3 $ 1.4 $ 0.1 $ 0.2

Asset Acquisition (Notes)

Asset Acquisition (Notes)	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Asset Acquisition	ASSET ACQUISITION On February 23, 2018 , the Company completed the acquisition of three commercial properties in Hawai`i ("TRC Acquisition"): (1) Laulani Village located in Ewa Beach, Oahu, (2) Hokulei Village located in Lihue, Kauai, and (3) Pu`unene Shopping Center located in Kahului, Maui. The total purchase price for the TRC Acquisition was $256.7 million and consisted of total consideration paid to the seller of $254.1 million , including a $62.0 million mortgage secured by Laulani Village, and $2.6 million of capitalized and acquisition-related costs paid to third parties. The allocation of purchase price to assets acquired and liabilities assumed is as follows (in millions): Fair value of assets acquired and liabilities assumed Assets acquired: Land $ 80.2 Property and improvements 141.7 In-place/favorable leases 36.0 Total assets acquired $ 257.9 Liabilities assumed: Unfavorable leases $ 2.2 Long term debt* 61.0 Total liabilities assumed 63.2 Net assets acquired $ 194.7 * Includes a fair value adjustment of $1.0 million. As of the acquisition date, the weighted-average remaining lives of both the in-place/favorable leases and unfavorable leases were approximately 12 years .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS The changes in accumulated other comprehensive loss by component for the three months ended March 31, 2018 were as follows (in millions, net of tax): Employee Interest Rate Swap Total Balance, January 1, 2018 $ (44.2 ) $ 1.9 $ (42.3 ) Other comprehensive income (loss) before reclassifications, net of taxes of $0.5 for interest rate swap — 1.3 1.3 Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0.2 for employee benefit plans 0.6 — 0.6 Balance, March 31, 2018 $ (43.6 ) $ 3.2 $ (40.4 ) The reclassifications of other comprehensive income (loss) components out of accumulated other comprehensive loss for the three months ended March 31, 2018 and 2017 were as follows (in millions): Three Months Ended March 31, 2018 2017 Unrealized interest rate hedging gain (loss) $ 1.8 $ — Reclassification adjustment for interest expense included in net income or loss — 0.2 Amortization of defined benefit pension items reclassified to net periodic pension cost: Net loss* 1.0 1.2 Prior service credit* (0.2 ) (0.3 ) Total before income tax 2.6 1.1 Income taxes (0.7 ) (0.4 ) Other comprehensive income (loss), net of tax $ 1.9 $ 0.7 * This accumulated other comprehensive loss component is included in the computation of net periodic pension cost (see Note 9 for additional details).

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the prior taxable years, the Company has filed a consolidated federal income tax return, which includes all of its wholly owned subsidiaries. For its taxable year ended December 31, 2017, the Company intends to file its tax return as a REIT, which it will accomplish by filing the 2017 Form 1120-REIT with the Internal Revenue Service on or before October 15, 2018. The Company's taxable REIT subsidiary ("TRS") will file separately as a C corporation. The Company also files individual separate income tax returns in various states. The Company completed the necessary preparatory work and obtained the necessary approvals such that the Company believes it has been organized and operates in a manner that enables it to qualify, and continue to qualify, as a REIT for federal income tax purposes. The Company's effective tax rate for the three months ended March 31, 2018 differed from the effective tax rate for the same period in 2017, primarily due to the inclusion of excess tax benefit related to share-based compensation exercised in the first quarter of 2017 whereas no exercises were made in the three months ended March 31, 2018. For the three months ended March 31, 2018 and 2017, the Company recorded a reduction to the carrying value of its solar tax equity investments of $0.1 million and $2.0 million , respectively, in "Reduction in Solar Investments, net" in the accompanying condensed consolidated statements of operations. The Company recognizes accrued interest and penalties on income taxes as a component of income tax expense. As of March 31, 2018, accrued interest and penalties were not material. As of March 31, 2018, the Company has not identified any material unrecognized tax positions.

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Notes Payable and Long-Term Debt	NOTES PAYABLE AND LONG-TERM DEBT At March 31, 2018 and December 31, 2017 , notes payable and long-term debt consisted of the following (in millions): March 31, December 31, 2018 2017 Revolving credit facilities: GLP Revolver, matures in 2018 (a) $ — $ 0.5 Revolving credit facility, matures in 2022 ($268.8 million available) (b) 181.2 66.0 Term Loans: 2.00%, payable through 2018, unsecured — 0.1 3.31%, payable through 2018, unsecured 0.5 1.0 5.19%, payable through 2019, unsecured 3.9 4.4 6.90%, payable through 2020, unsecured 32.5 48.8 LIBOR plus 2.00%, payable through 2021 (c) 9.4 9.4 LIBOR plus 1.00%, payable through 2021, secured by asphalt terminal (d) 4.5 4.8 3.15%, payable through 2021, second mortgage secured by Kailua Town Center III 4.9 4.9 LIBOR plus 1.50%, payable through 2021, secured by Kailua Town Center III (e) 10.8 10.8 5.53%, payable through 2024, unsecured 28.5 28.5 3.90%, payable through 2024, unsecured 62.5 62.6 4.15%, payable through 2024, secured by Pearl Highlands Center 86.5 87.0 5.55%, payable through 2026, unsecured 46.0 46.0 5.56%, payable through 2026, unsecured 25.0 25.0 4.35%, payable through 2026, unsecured 22.0 22.0 4.04%, payable through 2026, unsecured 50.0 50.0 3.88%, payable through 2027, unsecured 50.0 50.0 4.16%, payable through 2028, unsecured 25.0 25.0 4.30%, payable through 2029, unsecured 25.0 25.0 LIBOR plus 1.35%, payable through 2029, secured by Manoa Marketplace (f) 60.0 60.0 3.93%, payable through 2024, secured by Laulani Village 62.0 — LIBOR plus 1.60%, payable through 2023, unsecured (g) 50.0 — Total debt (contractual) 840.2 631.8 Unamortized debt premium (discount) (0.5 ) 0.5 Unamortized debt issuance costs (1.1 ) (1.1 ) Total debt (carrying value) 838.6 631.2 Less current portion (42.8 ) (46.0 ) Long-term debt $ 795.8 $ 585.2 (a) Loan has a stated interest rate of LIBOR plus 1.50%. (b) Loan has a stated interest rate of LIBOR plus 1.65%; derived from a leverage based pricing grid. (c) Loan is secured by a letter of credit. (d) Loan has a stated interest rate of LIBOR plus 1.00%; swapped through maturity to a 5.98% fixed rate. (e) Loan has a stated interest rate of LIBOR plus 1.50%; swapped through maturity to a 5.95% fixed rate. (f) Loan has a stated interest rate of LIBOR plus 1.35%; swapped through maturity to a 3.14% fixed rate. (g) Loan has a stated interest rate of LIBOR plus 1.60%; derived from a leverage based pricing grid. In connection with the TRC Acquisition, the Company assumed a $62.0 million mortgage secured by Laulani Village that matures on May 1, 2024. The note bears interest at 3.93% and requires monthly interest payments of approximately $0.2 million until May 2020 and principal and interest payments of approximately $0.3 million thereafter. On February 26, 2018 , the Company entered into an agreement with Wells Fargo Bank, National Association and a syndicate of other financial institutions that provides for a $50 million term loan facility ("Wells Fargo Term Facility"). The Company also drew $50 million under the Wells Fargo Term Facility on February 26, 2018 and used such term loan proceeds to repay amounts that were borrowed under the Company's Revolving Credit Facility. Borrowings under the Wells Fargo Term Facility bear interest at a stated rate, as defined, plus a margin that is determined using a leverage based pricing grid. On April 18, 2018, the Company completed an agreement with Prudential Investment Management, Inc. and its affiliates to refinance its previously existing term loan of $62.5 million that bore interest at 3.90% and matured in 2024, which resulted in three separate term loans: $10.0 million at a fixed interest rate of 4.66% maturing in 2025; $34.5 million at a fixed interest rate of 4.81% maturing in 2027; and $18.0 million at a fixed interest rate of 4.89% maturing in 2028.

Cessation of Sugar Operations

Cessation of Sugar Operations	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Cessation of Sugar Operations	CESSATION OF SUGAR OPERATIONS A summary of the pre-tax costs and remaining costs associated with the Cessation is as follows (in millions): Charges Recognized During 2018 Cumulative Amount Recognized as of Remaining to be Recognized Total Employee severance benefits and related costs $ — $ 22.1 $ — $ 22.1 Asset write-offs and accelerated depreciation — 71.3 — 71.3 Property removal, restoration and other exit-related costs 0.1 9.6 0.8 10.4 Total Cessation-related costs $ 0.1 $ 103.0 $ 0.8 $ 103.8 Activity of the Cessation-related liabilities during the three months ended March 31, 2018 is as follow (in millions): Other Exit Costs 1 Balance at December 31, 2017 $ 4.6 Expense 0.1 Cash payments (0.3 ) Balance at March 31, 2018 $ 4.4 1 Includes asset retirement obligations.

Investments in Affiliates

Investments in Affiliates	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Investments in Affiliates	INVESTMENTS IN AFFILIATES The Company's investments in affiliates consist principally of equity investments in limited liability companies in which the Company has the ability to exercise significant influence over the operating and financial policies of these investments. Accordingly, the Company accounts for its investments using the equity method of accounting. Operating results include the Company's proportionate share of net income from its equity method investments. A summary of combined financial information related to the Company's equity method investments for the three months ended March 31, 2018 and 2017 is as follows (in millions): Three Months Ended March 31, 2018 2017 Revenues $ 64.4 $ 40.6 Operating costs and expenses 58.1 33.6 Gross Profit $ 6.3 $ 7.0 Income from Continuing Operations* $ (2.2 ) $ 3.3 Net Income* $ (2.2 ) $ 3.3 * Includes earnings from equity method investments held by the investee.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS The Company is exposed to interest rate risk related to its floating rate interest debt. The Company balances its cost of debt and exposure to interest rates primarily through its mix of fixed and floating rate debt. From time to time, the Company may use interest rate swaps to manage its exposure to interest rate risk. Cash Flow Hedges of Interest Rate Risk During 2016, the Company entered into an interest rate swap agreement with a notional amount of $60.0 million which was designated as a cash flow hedge. The Company structured the interest rate swap agreement to hedge the variability of future interest payments due to changes in interest rates with regards to the Company's long-term debt. A summary of the key terms related to the Company's outstanding cash flow hedge as of March 31, 2018 , is as follows (dollars in millions): Effective Maturity Interest Notional Amount at Fair Value at Classification on Date Date Rate March 31, 2018 March 31, 2018 December 31, 2017 Balance Sheet 4/7/2016 8/1/2029 3.14% $ 60.0 $ 4.6 $ 2.8 Other assets The Company assessed the effectiveness of the cash flow hedge at inception and will continue to do so on an ongoing basis. The effective portion of the changes in fair value of the cash flow hedge is recorded in accumulated other comprehensive loss and subsequently reclassified into interest expense as interest is incurred on the related-variable rate debt. When ineffectiveness exists, the ineffective portion of changes in fair value of the cash flow hedge is recognized in earnings in the period affected. Non-designated Hedges As of March 31, 2018 , the Company has two interest rate swaps that have not been designated as cash flow hedges whose key terms are as follows (dollars in millions): Effective Maturity Interest Notional Amount at Fair Value at Classification on Date Date Rate March 31, 2018 March 31, 2018 December 31, 2017 Balance Sheet 1/1/2014 9/1/2021 5.95% $ 10.8 $ (0.7 ) $ (0.9 ) Other non-current liabilities 6/18/2008 3/1/2021 5.98% $ 4.5 $ (0.2 ) $ (0.3 ) Other non-current liabilities Total $ 15.3 $ (0.9 ) $ (1.2 ) The following table represents the pre-tax effect of the derivative instruments in the Company's condensed consolidated statement of comprehensive income (loss) (in millions): Three Months Ended March 31, 2018 2017 Derivatives in Designated Cash Flow Hedging Relationships: Amount of (gain) loss recognized in OCI on derivatives (effective portion) $ (1.8 ) $ — Amounts of (gain) loss reclassified from accumulated OCI into earnings under "interest expense" (ineffective portion and amount excluded from effectiveness testing) $ — $ (0.2 ) The Company records gains or losses related to interest rate swaps that have not been designated as cash flow hedges in interest expense in its condensed consolidated statements of operations, and the amounts were immaterial during each of the three months ended March 31, 2018 and 2017 . The Company measures all of its interest rate swaps at fair value. The fair values of the Company's interest rate swaps (Level 2) are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS In December 2016, the Company completed its final sugar harvest and ceased its sugar operations. The historical results of operations have been presented as discontinued operations in the condensed consolidated financial statements and prior periods have been recast. The revenue, operating income (loss), gain on asset dispositions, income tax (expense) benefit and after-tax effects of these transactions for the years ended three months ended March 31, 2018 and 2017 , were as follows (in millions): Three Months Ended March 31, 2018 2017 Sugar operations revenue $ — $ 22.1 Cost of discontinued sugar operations 0.1 22.3 Operating income (loss) from sugar operations (0.1 ) (0.2 ) Gain on asset dispositions — 4.1 Income (loss) from discontinued operations before income taxes (0.1 ) 3.9 Income tax benefit (expense) — (1.5 ) Income (loss) from discontinued operations $ (0.1 ) $ 2.4 Basic earnings (loss) per share $ — $ 0.05 Diluted earnings (loss) per share $ — $ 0.05 There was no depreciation and amortization related to discontinued operations for three months ended March 31, 2018 and 2017 .

Segment Results

Segment Results	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Results	SEGMENT RESULTS Operating segment information for the three months ended March 31, 2018 and 2017 is summarized below (in millions): Three Months Ended March 31, 2018 2017 Operating Revenue: Commercial Real Estate $ 35.2 $ 33.7 Land Operations 29.3 11.0 Materials & Construction 48.8 48.5 Total operating revenue 113.3 93.2 Operating Profit (Loss): Commercial Real Estate 1 15.5 14.3 Land Operations 2,3 (5.4 ) (2.4 ) Materials & Construction 0.2 5.6 Total operating profit 10.3 17.5 Interest expense (8.4 ) (6.2 ) General corporate expenses (6.7 ) (5.7 ) REIT evaluation/conversion costs 4 — (4.8 ) Income (Loss) from Continuing Operations Before Income Taxes and Net Gain (Loss) on Sale of Improved Properties and Ground Leased Land (4.8 ) 0.8 Income tax benefit (expense) 2.7 0.8 Income (Loss) from Continuing Operations Before Net Gain (Loss) on Sale of Improved Properties and Ground Leased Land (2.1 ) 1.6 Net gain (loss) on the sale of improved properties and ground leased land 5 49.6 3.0 Income (Loss) from Continuing Operations 47.5 4.6 Income (loss) from discontinued operations, net of income taxes (0.1 ) 2.4 Net Income (Loss) 47.4 7.0 Income attributable to noncontrolling interest (0.1 ) (0.7 ) Net Income (Loss) Attributable to A&B Shareholders $ 47.3 $ 6.3 1 Commercial Real Estate operating profit includes intersegment operating revenue, primarily from our Materials & Construction segment, and is eliminated in our consolidated results of operations. 2 For the three months ended March 31, 2018 and 2017 , Land Operations segment operating loss includes approximately $2.6 million of equity in loss and $0.1 million of equity in earnings from its various real estate joint ventures, respectively. 3 For the three months ended March 31, 2018 and 2017 , Land Operations segment operating loss includes non-cash reductions of $0.1 million and $2.0 million , respectively, related to the Company's solar tax equity investments. The non-cash reductions, if any, are included in Reductions in solar investments, net on the condensed consolidated statements of operations. 4 Costs related to the Company's in-depth evaluation of and conversion to a REIT. 5 Amounts in 2018 represent the sales of the six mainland properties (Concorde Commerce Center, Deer Valley Financial Center, 1800 and 1820 Preston Park, Little Cottonwood Center, Royal MacArthur Center, and Sparks Business Center) and the three Hawai`i assets (Stangenwald Building, Judd Building and a ground lease). Amounts in 2017 represent the sales of one office building in Maui, Hawai`i in January 2017.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenues	REVENUES The Company recognizes revenue when control of promised goods or services is transferred to the customer at an amount that reflects the consideration which the Company expects to be entitled to in exchange for those goods or services. The Company disaggregates revenue from contracts with customers by revenue type as the Company believes it best depicts how the nature, amount, timing and uncertainty of the Company's revenue and cash flows are affected by economic factors. Three Months Ended March 31, 2018 2017 1 Revenues: Commercial real estate 2 $ 35.2 $ 33.7 Land Operations: Development sales revenue 23.0 2.4 Unimproved/other property sales revenue 0.3 1.6 Other operating revenue 6.0 7.0 Land Operations 29.3 11.0 Materials & Construction 48.8 48.5 Total revenues $ 113.3 $ 93.2 1 As noted above, prior period amounts have not been adjusted under the modified retrospective method. 2 As noted above, Commercial Real Estate revenue is not in scope under ASU 2014-09 however is presented here for completeness. The total amount of contract consideration allocated to either wholly unsatisfied or partially satisfied performance obligations was $198.4 million as of the three months ended March 31, 2018 . The Company expects to recognize as revenue approximately 55% - 60% of the remaining contract consideration allocated to either wholly unsatisfied or partially satisfied performance obligations in 2018, with the remaining recognized thereafter. The Company has elected the practical expedient provided in ASU 2014-09 to not disclose information about remaining performance obligations that have original expected durations of one year or less. In addition, the Company has elected the transition practical expedient in ASU 2014-09 to not disclose the amount of the transaction price allocated to the remaining performance obligations and an explanation of when the Company expects to recognize that amount as revenue for three months ended March 31, 2018 . The Company has elected these practical expedients as the majority of its wholly, or partially, unfulfilled performance obligations are expected to be recognized in less than one year . CONTRACT BALANCES Timing of revenue recognition may differ from the timing of invoicing to customers. Costs and estimated earnings in excess of billings represent amounts earned and reimbursable under contracts but have a conditional right for billing and payment such as achievement of milestones or completion of the project. When events or conditions indicate that it is probable that the amounts outstanding become unbillable, the transaction price and associated contract asset is reduced. Billings in excess of costs and estimated earnings are billings to customers on contracts in advance of work performed, including advance payments negotiated as a contract condition. Generally, unearned project-related costs will be earned over the next twelve months. The following table provides information about receivables, contract assets and contract liabilities from contracts with customers: Beginning Balance as of Ending Balance as of (in millions) January 1, 2018 March 31, 2018 Accounts receivable, net $ 34.1 $ 37.5 Costs and estimated earnings in excess of billings on uncompleted contracts $ 20.2 $ 16.2 Deferred revenue $ 0.9 $ 3.0 Billings in excess of costs and estimated earnings on uncompleted contracts $ 5.7 $ 3.9 As of the three months ended March 31, 2018, the Company recognized revenue of $2.2 million related to the Company's contract liabilities reported as of January 1, 2018. The amount of revenue recognized from performance obligations satisfied in prior periods was not material.

Contract Balances

Contract Balances	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract Balances	REVENUES The Company recognizes revenue when control of promised goods or services is transferred to the customer at an amount that reflects the consideration which the Company expects to be entitled to in exchange for those goods or services. The Company disaggregates revenue from contracts with customers by revenue type as the Company believes it best depicts how the nature, amount, timing and uncertainty of the Company's revenue and cash flows are affected by economic factors. Three Months Ended March 31, 2018 2017 1 Revenues: Commercial real estate 2 $ 35.2 $ 33.7 Land Operations: Development sales revenue 23.0 2.4 Unimproved/other property sales revenue 0.3 1.6 Other operating revenue 6.0 7.0 Land Operations 29.3 11.0 Materials & Construction 48.8 48.5 Total revenues $ 113.3 $ 93.2 1 As noted above, prior period amounts have not been adjusted under the modified retrospective method. 2 As noted above, Commercial Real Estate revenue is not in scope under ASU 2014-09 however is presented here for completeness. The total amount of contract consideration allocated to either wholly unsatisfied or partially satisfied performance obligations was $198.4 million as of the three months ended March 31, 2018 . The Company expects to recognize as revenue approximately 55% - 60% of the remaining contract consideration allocated to either wholly unsatisfied or partially satisfied performance obligations in 2018, with the remaining recognized thereafter. The Company has elected the practical expedient provided in ASU 2014-09 to not disclose information about remaining performance obligations that have original expected durations of one year or less. In addition, the Company has elected the transition practical expedient in ASU 2014-09 to not disclose the amount of the transaction price allocated to the remaining performance obligations and an explanation of when the Company expects to recognize that amount as revenue for three months ended March 31, 2018 . The Company has elected these practical expedients as the majority of its wholly, or partially, unfulfilled performance obligations are expected to be recognized in less than one year . CONTRACT BALANCES Timing of revenue recognition may differ from the timing of invoicing to customers. Costs and estimated earnings in excess of billings represent amounts earned and reimbursable under contracts but have a conditional right for billing and payment such as achievement of milestones or completion of the project. When events or conditions indicate that it is probable that the amounts outstanding become unbillable, the transaction price and associated contract asset is reduced. Billings in excess of costs and estimated earnings are billings to customers on contracts in advance of work performed, including advance payments negotiated as a contract condition. Generally, unearned project-related costs will be earned over the next twelve months. The following table provides information about receivables, contract assets and contract liabilities from contracts with customers: Beginning Balance as of Ending Balance as of (in millions) January 1, 2018 March 31, 2018 Accounts receivable, net $ 34.1 $ 37.5 Costs and estimated earnings in excess of billings on uncompleted contracts $ 20.2 $ 16.2 Deferred revenue $ 0.9 $ 3.0 Billings in excess of costs and estimated earnings on uncompleted contracts $ 5.7 $ 3.9 As of the three months ended March 31, 2018, the Company recognized revenue of $2.2 million related to the Company's contract liabilities reported as of January 1, 2018. The amount of revenue recognized from performance obligations satisfied in prior periods was not material.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Reclassifications	Reclassifications: Certain amounts in the Company's prior period condensed consolidated financial statements have been reclassified to conform to the current period presentation. In connection with the adoption of Accounting Standards Update ("ASU") 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash , transfers to or from restricted cash which have previously been shown in the Company's investing activities section of the condensed consolidated statements of cash flows are now required to be shown as part of the total change in cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows. This change resulted in a decrease in cash flows used in investing activities of $1.6 million during the three months ended March 31, 2017.
Rounding	Rounding: Amounts in the condensed consolidated financial statements and notes are rounded to the nearest tenth of a million. Accordingly, a recalculation of some per-share amounts and percentages, if based on the reported data, may result in differences.
Revenue Recognition	Revenue recognition Sources of revenue for the Company primarily include sales of real estate, commercial property rentals, material sales, paving construction projects, and real estate development projects. The Company generates revenue from three distinct business segments: Commercial Real Estate: The Commercial Real Estate segment owns, operates, leases, and manages a portfolio of retail, office, and industrial properties in Hawai`i and on the Mainland; it also leases urban land in Hawai`i to third-party lessees. Commercial Real Estate revenue is recognized on a straight-line basis over the term of the corresponding lease. Also included in rental revenues are certain tenant reimbursements and percentage rents determined in accordance with the terms of the lease. The Company records revenue for real estate taxes paid by its tenants for commercial properties with an offsetting expense in Cost of Commercial Real Estate in the accompanying condensed consolidated statement of operations, as the Company has concluded it is the primary obligor. Land Operations: Revenues from sales of real estate are recognized at the point in time when control of the underlying goods is transferred to the customer and the payment is due (generally on the closing date). For certain development projects the Company will use a percentage of completion for revenue recognition. Under this method, the amount of revenue recognized is based on the development costs that have been incurred throughout the reporting period as a percentage of total expected developments associated with the development project. Materials & Construction: Revenue from the Materials & Construction segment is primarily generated from material sales and paving and construction contracts. The recognition of revenue is based on the underlying terms of the transactions. Materials : Revenues from material sales, which include basalt aggregate, liquid asphalt and hot mix asphalt, are usually recognized at a point in time when control of the underlying goods is transferred to the customers (generally this occurs when materials are picked up by customers or their agents) and when the Company has a present right to payment for materials sold. Construction : The Company's construction contracts generally contain a single performance obligation as the promise to transfer individual goods or services are not separately identifiable from other promises in the contracts and is, therefore, not distinct. Revenue is earned from construction contracts over a period of time as control is continuously transferred to customers. Construction contracts can generally be categorized into two types of contracts with customers based on the respective payment terms; either lump sum or unit priced. Lump sum contracts require the total amount of work be performed under a single fixed price irrespective of actual quantities or actual costs. Earnings on both unit price contracts and lump sum fixed-price paving contracts are recognized using the percentage of completion, cost-to-cost, input method as it is able to faithfully depict the transfer of control of the underlying assets to the customer. Certain construction contracts include retainage provisions. The balances billed but not paid by customers pursuant to these provisions generally become due upon completion and acceptance of the project work or products by the owners. The Company deems its contract prices reflective of the standalone selling prices of the underlying goods and services since the contracts are required to go through competitive bidding process. The Company recognizes revenue on a net basis excluding indirect taxes, such as sales tax and value added tax collected from customers and remitted to government authorities. Interest and other income (expense) Interest and other income (expense), net is primarily comprised of the non-service cost components of pension and postretirement benefit expense and interest income.
New Accounting Pronouncements	New accounting pronouncements In May 2014, Financial Accounting Standards Board (the "FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") to provide guidance for revenue recognition and has superseded the revenue recognition requirements in FASB Accounting Standards Codification Topic 605, Revenue Recognition , (Topic 605) as well as most industry-specific guidance. Under ASU 2014-09, revenue is recognized when a customer obtains control of the promised goods or services in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. The Company adopted the provisions of ASU 2014-09 as of January 1, 2018 using the modified retrospective transition method and applied ASU 2014-09 to those contracts that were not completed as of January 1, 2018 and whose revenue was historically accounted for under Topic 605. The cumulative impact of the adoption was a net reduction to other assets and distributions in excess of retained earnings of $1.4 million as of January 1, 2018. In accordance with ASU 2014-09, the disclosure of the impact of adoption to our condensed consolidated balance sheet was as follows (in millions): Balance as of December 31, 2017 Impact of adoption Balance as of January 1, 2018 Other Assets $ 56.2 $ (1.4 ) $ 54.8 Distributions in excess of accumulated earnings $ (473.0 ) $ (1.4 ) $ (474.4 ) The adoption of ASU 2014-09 did not significantly impact the Company's revenue recognition treatment for its Materials & Construction business segment due to the short term duration of the Company's construction contracts. The Company's Commercial Real Estate business segment recognizes its revenue under the accounting framework of ASC 840, Leases and is therefore excluded from the scope of ASU 2014-09. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting . The guidance clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including in any interim period for which financial statements have not yet been issued or made available for issuance. The guidance will be applied prospectively to awards modified on or after the adoption date. The adoption of this standard did not have an impact on the Company's financial position or results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-02"). ASU 2016-02 requires the identification of arrangements that should be accounted for as leases by lessees. In general, lease arrangements exceeding a twelve month term must now be recognized as assets and liabilities on the balance sheet of the lessee. Under ASU 2016-02, a right-of-use asset and lease obligation will be recorded for all leases, whether operating or financing, while the income statement will reflect lease expense for operating leases and amortization/interest expense for financing leases. The balance sheet amount recorded for existing leases at the date of adoption of ASU 2016-02 must be calculated using the applicable incremental borrowing rate at the date of adoption. In addition, ASU 2016-02 requires the use of the modified retrospective method, which will require adjustment to all comparative periods presented in the consolidated financial statements. ASU 2016-02 is effective for financial statements issued for fiscal years beginning after December 15, 2018. In January 2018, the FASB issued ASU No. 2018-01, which amends the Board's new leasing standard, ASU 2016-02, to provide a transition practical expedient that an entity may elect to apply. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The guidance amends the hedge accounting model in ASC 815 to enable entities to better portray the economics of their risk management activities in the financial statements and enhance the transparency and understandability of hedge results. The amendments expand an entity's ability to hedge nonfinancial and financial risk components and reduce complexity in fair value hedges of interest rate risk. This ASU eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. This ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted in any interim period or fiscal year before the effective date. For cash flow and net investment hedges existing at the date of adoption, entities will apply the new guidance using a modified retrospective approach (i.e., with a cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date). The guidance provides transition relief to make it easier for entities to apply certain amendments to existing hedges (including fair value hedges) where the hedge documentation needs to be modified. The presentation and disclosure requirements apply prospectively. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures. In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220) . The guidance permits entities to reclassify tax effects stranded in accumulated other comprehensive income as a result of tax reform to retained earnings, giving entities the option to reclassify these amounts rather than require reclassification. The FASB also gave entities the option to apply the guidance retrospectively or in the period of adoption. When adopted, the standard requires all entities to make new disclosures, regardless of whether they elect to reclassify stranded amounts. Entities are required to disclose whether or not they elected to reclassify the tax effects related to the Tax Cuts and Jobs Act of 2017 as well as their policy for releasing income tax effects from accumulated OCI. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Entities are able to early adopt the guidance in any interim or annual period for which financial statements have not yet been issued and apply it either (1) in the period of adoption or (2) retrospectively to each period in which the income tax effects of the Tax Cuts and Jobs Act of 2017 related to items in accumulated OCI are recognized. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of Interest and Other Income Expense	For the three months ended March 31, 2018 and 2017 , Interest and other income, net included the following: Three Months Ended March 31, (in millions) 2018 2017 Pension and postretirement benefit expense $ (0.7 ) $ (0.7 ) Interest income 0.1 1.0 Other income (expense) (0.1 ) — Interest and other income (expense), net $ (0.7 ) $ 0.3
impact of Adoption of New Accounting Pronouncements	In accordance with ASU 2014-09, the disclosure of the impact of adoption to our condensed consolidated balance sheet was as follows (in millions): Balance as of December 31, 2017 Impact of adoption Balance as of January 1, 2018 Other Assets $ 56.2 $ (1.4 ) $ 54.8 Distributions in excess of accumulated earnings $ (473.0 ) $ (1.4 ) $ (474.4 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Summary of Commitments and Financial Arrangements	Commitments and financial arrangements not recorded on the Company's condensed consolidated balance sheet, excluding lease commitments that are disclosed in Note 9 of the Company's 2017 Form 10-K, included the following (in millions) as of March 31, 2018 : Standby letters of credit (a) $ 11.8 Bonds (b) $ 462.8 (a) Consists of standby letters of credit, issued by the Company’s lenders under the Company’s revolving credit facilities, and relate primarily to the Company’s real estate activities. In the event the letters of credit are drawn upon, the Company would be obligated to reimburse the issuer of the letter of credit. (b) Represents bonds related to construction and real estate activities in Hawai`i. Approximately $438.7 million is related to construction bonds issued by third party sureties (bid, performance and payment bonds) and the remainder is related to commercial bonds issued by third party sureties (permit, subdivision, license and notary bonds). In the event the bonds are drawn upon, the Company would be obligated to reimburse the surety that issued the bond.

Earnings Per Share (_EPS_) (Tab

Earnings Per Share (“EPS”) (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Reconciliation of Income and Computation of Earnings per Share	The following table provides a reconciliation of income from continuing operations to income from continuing operations available to A&B shareholders for the three months ended March 31, 2018 and 2017 (in millions): Three Months Ended March 31, 2018 2017 Income (loss) from Continuing Operations, net of income taxes $ 47.5 $ 4.6 Less: Income (loss) attributable to noncontrolling interest (0.1 ) (0.7 ) Income (loss) from continuing operations attributable to A&B shareholders, net of income taxes 47.4 3.9 Undistributed earnings allocated to redeemable noncontrolling interest — 0.5 Income (loss) from continuing operations available to A&B shareholders, net of income taxes 47.4 4.4 Income (loss) from discontinued operations available to A&B shareholders, net of income taxes (0.1 ) 2.4 Net income (loss) available to A&B shareholders $ 47.3 $ 6.8 The number of shares used to compute basic and diluted earnings per share for the three months ended March 31, 2018 and 2017 is as follows (in millions): Three Months Ended March 31, 2018 2017 Denominator for basic EPS - weighted average shares outstanding 66.4 49.1 Effect of dilutive securities: Non-participating stock options and restricted stock unit awards 0.4 0.5 Special Distribution 5.4 — Denominator for diluted EPS - weighted average shares outstanding 72.2 49.6

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	INVENTORIES Inventories are stated at the lower of cost (principally average cost, first-in, first-out basis) or net realizable value. Inventories as of March 31, 2018 and December 31, 2017 were as follows (in millions): March 31, 2018 December 31, 2017 Asphalt $ 9.1 $ 12.2 Processed rock, Portland cement, and sand 14.0 13.5 Work in progress 3.2 2.8 Retail merchandise 1.7 1.7 Parts, materials and supplies inventories 1.6 1.7 Total $ 29.6 $ 31.9

Share-Based Payment Awards (Tab

Share-Based Payment Awards (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Option Activity	The following table summarizes the Company's stock option activity for the three months ended March 31, 2018 (in thousands, except weighted average exercise price and weighted average contractual life): 2012 Plan Weighted- Weighted- Aggregate Outstanding, January 1, 2018 630.5 $ 12.58 Exercised — $ — Forfeited and expired — $ — Outstanding, March 31, 2018 630.5 $ 12.58 2.7 $ 6,679 Vested or expected to vest 630.5 $ 12.58 2.7 $ 6,679 Exercisable, March 31, 2018 630.5 $ 12.58 2.7 $ 6,679
Summary of Non-vested Restricted Stock Unit Activity	The following table summarizes non-vested restricted stock unit activity for the three months ended March 31, 2018 (in thousands, except weighted-average grant-date fair value amounts): 2012 Plan Weighted- Outstanding, January 1, 2018 318.9 $ 36.66 Anti-dilutive adjustment for Special Distribution 182.9 Granted 210.4 $ 29.89 Vested (116.8 ) $ 24.39 Canceled (39.9 ) $ 24.15 Outstanding, March 31, 2018 555.5 $ 25.34
Schedule of Fair Value Assumptions of Market-based Awards	The fair value of the Company's market-based awards is estimated using the Company's stock price on the date of grant and the probability of vesting using a Monte Carlo simulation with the following weighted-average assumptions: 2018 Grants 2017 Grants Volatility of A&B common stock 22.7 % 25.4 % Average volatility of peer companies 21.6 % 25.7 % Risk-free interest rate 2.3 % 1.5 %
Summary of Compensation Cost related to Share-based Payments	A summary of compensation cost related to share-based payments for the three months ended March 31, 2018 and 2017 is as follows (in millions): Three Month Ended March 31, 2018 2017 Share-based expense (net of estimated forfeitures): Time-based and market-based restricted stock units $ 1.3 $ 1.1 Total share-based expense 1.3 1.1 Total recognized tax benefit (0.1 ) (0.4 ) Share-based expense (net of tax) $ 1.2 $ 0.7

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Summary of Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss	Components of the net periodic benefit cost for the three months ended March 31, 2018 and 2017 are shown below (in millions): Pension Benefits Post-retirement Benefits Three Months Ended March 31, Three Months Ended March 31, Components of Net Periodic Benefit Cost 2018 2017 2018 2017 Service cost $ 0.5 $ 0.8 $ — $ 0.1 Interest cost 1.9 2.1 0.1 0.1 Expected return on plan assets (1.9 ) (2.4 ) — — Amortization of net loss 1.0 1.2 — — Amortization of prior service credit (0.2 ) (0.3 ) — — Net periodic benefit cost $ 1.3 $ 1.4 $ 0.1 $ 0.2

Asset Acquisition (Tables)

Asset Acquisition (Tables)	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The allocation of purchase price to assets acquired and liabilities assumed is as follows (in millions): Fair value of assets acquired and liabilities assumed Assets acquired: Land $ 80.2 Property and improvements 141.7 In-place/favorable leases 36.0 Total assets acquired $ 257.9 Liabilities assumed: Unfavorable leases $ 2.2 Long term debt* 61.0 Total liabilities assumed 63.2 Net assets acquired $ 194.7 * Includes a fair value adjustment of $1.0 million.

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss, Net of Taxes	The changes in accumulated other comprehensive loss by component for the three months ended March 31, 2018 were as follows (in millions, net of tax): Employee Interest Rate Swap Total Balance, January 1, 2018 $ (44.2 ) $ 1.9 $ (42.3 ) Other comprehensive income (loss) before reclassifications, net of taxes of $0.5 for interest rate swap — 1.3 1.3 Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0.2 for employee benefit plans 0.6 — 0.6 Balance, March 31, 2018 $ (43.6 ) $ 3.2 $ (40.4 )
Summary of Reclassifications of Other Comprehensive Income	The reclassifications of other comprehensive income (loss) components out of accumulated other comprehensive loss for the three months ended March 31, 2018 and 2017 were as follows (in millions): Three Months Ended March 31, 2018 2017 Unrealized interest rate hedging gain (loss) $ 1.8 $ — Reclassification adjustment for interest expense included in net income or loss — 0.2 Amortization of defined benefit pension items reclassified to net periodic pension cost: Net loss* 1.0 1.2 Prior service credit* (0.2 ) (0.3 ) Total before income tax 2.6 1.1 Income taxes (0.7 ) (0.4 ) Other comprehensive income (loss), net of tax $ 1.9 $ 0.7 * This accumulated other comprehensive loss component is included in the computation of net periodic pension cost (see Note 9 for additional details).

Notes Payable and Long-Term D37

Notes Payable and Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Notes Payable and Long-term Debt	At March 31, 2018 and December 31, 2017 , notes payable and long-term debt consisted of the following (in millions): March 31, December 31, 2018 2017 Revolving credit facilities: GLP Revolver, matures in 2018 (a) $ — $ 0.5 Revolving credit facility, matures in 2022 ($268.8 million available) (b) 181.2 66.0 Term Loans: 2.00%, payable through 2018, unsecured — 0.1 3.31%, payable through 2018, unsecured 0.5 1.0 5.19%, payable through 2019, unsecured 3.9 4.4 6.90%, payable through 2020, unsecured 32.5 48.8 LIBOR plus 2.00%, payable through 2021 (c) 9.4 9.4 LIBOR plus 1.00%, payable through 2021, secured by asphalt terminal (d) 4.5 4.8 3.15%, payable through 2021, second mortgage secured by Kailua Town Center III 4.9 4.9 LIBOR plus 1.50%, payable through 2021, secured by Kailua Town Center III (e) 10.8 10.8 5.53%, payable through 2024, unsecured 28.5 28.5 3.90%, payable through 2024, unsecured 62.5 62.6 4.15%, payable through 2024, secured by Pearl Highlands Center 86.5 87.0 5.55%, payable through 2026, unsecured 46.0 46.0 5.56%, payable through 2026, unsecured 25.0 25.0 4.35%, payable through 2026, unsecured 22.0 22.0 4.04%, payable through 2026, unsecured 50.0 50.0 3.88%, payable through 2027, unsecured 50.0 50.0 4.16%, payable through 2028, unsecured 25.0 25.0 4.30%, payable through 2029, unsecured 25.0 25.0 LIBOR plus 1.35%, payable through 2029, secured by Manoa Marketplace (f) 60.0 60.0 3.93%, payable through 2024, secured by Laulani Village 62.0 — LIBOR plus 1.60%, payable through 2023, unsecured (g) 50.0 — Total debt (contractual) 840.2 631.8 Unamortized debt premium (discount) (0.5 ) 0.5 Unamortized debt issuance costs (1.1 ) (1.1 ) Total debt (carrying value) 838.6 631.2 Less current portion (42.8 ) (46.0 ) Long-term debt $ 795.8 $ 585.2 (a) Loan has a stated interest rate of LIBOR plus 1.50%. (b) Loan has a stated interest rate of LIBOR plus 1.65%; derived from a leverage based pricing grid. (c) Loan is secured by a letter of credit. (d) Loan has a stated interest rate of LIBOR plus 1.00%; swapped through maturity to a 5.98% fixed rate. (e) Loan has a stated interest rate of LIBOR plus 1.50%; swapped through maturity to a 5.95% fixed rate. (f) Loan has a stated interest rate of LIBOR plus 1.35%; swapped through maturity to a 3.14% fixed rate. (g) Loan has a stated interest rate of LIBOR plus 1.60%; derived from a leverage based pricing grid.

Cessation of Sugar Operations (

Cessation of Sugar Operations (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Summary of Pre-tax Costs and Remaining Costs Associated with Restructuring and Summary of Activity Related to Cessation Accruals	A summary of the pre-tax costs and remaining costs associated with the Cessation is as follows (in millions): Charges Recognized During 2018 Cumulative Amount Recognized as of Remaining to be Recognized Total Employee severance benefits and related costs $ — $ 22.1 $ — $ 22.1 Asset write-offs and accelerated depreciation — 71.3 — 71.3 Property removal, restoration and other exit-related costs 0.1 9.6 0.8 10.4 Total Cessation-related costs $ 0.1 $ 103.0 $ 0.8 $ 103.8 Activity of the Cessation-related liabilities during the three months ended March 31, 2018 is as follow (in millions): Other Exit Costs 1 Balance at December 31, 2017 $ 4.6 Expense 0.1 Cash payments (0.3 ) Balance at March 31, 2018 $ 4.4 1 Includes asset retirement obligations.

Investments in Affiliates (Tabl

Investments in Affiliates (Tables)	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	A summary of combined financial information related to the Company's equity method investments for the three months ended March 31, 2018 and 2017 is as follows (in millions): Three Months Ended March 31, 2018 2017 Revenues $ 64.4 $ 40.6 Operating costs and expenses 58.1 33.6 Gross Profit $ 6.3 $ 7.0 Income from Continuing Operations* $ (2.2 ) $ 3.3 Net Income* $ (2.2 ) $ 3.3 * Includes earnings from equity method investments held by the investee.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swap	A summary of the key terms related to the Company's outstanding cash flow hedge as of March 31, 2018 , is as follows (dollars in millions): Effective Maturity Interest Notional Amount at Fair Value at Classification on Date Date Rate March 31, 2018 March 31, 2018 December 31, 2017 Balance Sheet 4/7/2016 8/1/2029 3.14% $ 60.0 $ 4.6 $ 2.8 Other assets As of March 31, 2018 , the Company has two interest rate swaps that have not been designated as cash flow hedges whose key terms are as follows (dollars in millions): Effective Maturity Interest Notional Amount at Fair Value at Classification on Date Date Rate March 31, 2018 March 31, 2018 December 31, 2017 Balance Sheet 1/1/2014 9/1/2021 5.95% $ 10.8 $ (0.7 ) $ (0.9 ) Other non-current liabilities 6/18/2008 3/1/2021 5.98% $ 4.5 $ (0.2 ) $ (0.3 ) Other non-current liabilities Total $ 15.3 $ (0.9 ) $ (1.2 )
Schedule of Derivative Instruments in Consolidated Statements of Operations	The following table represents the pre-tax effect of the derivative instruments in the Company's condensed consolidated statement of comprehensive income (loss) (in millions): Three Months Ended March 31, 2018 2017 Derivatives in Designated Cash Flow Hedging Relationships: Amount of (gain) loss recognized in OCI on derivatives (effective portion) $ (1.8 ) $ — Amounts of (gain) loss reclassified from accumulated OCI into earnings under "interest expense" (ineffective portion and amount excluded from effectiveness testing) $ — $ (0.2 )

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Summary of Revenue, Operating Profit, Income Tax Expense and After-tax Effects of Sales Treated as Discontinued Operations	The revenue, operating income (loss), gain on asset dispositions, income tax (expense) benefit and after-tax effects of these transactions for the years ended three months ended March 31, 2018 and 2017 , were as follows (in millions): Three Months Ended March 31, 2018 2017 Sugar operations revenue $ — $ 22.1 Cost of discontinued sugar operations 0.1 22.3 Operating income (loss) from sugar operations (0.1 ) (0.2 ) Gain on asset dispositions — 4.1 Income (loss) from discontinued operations before income taxes (0.1 ) 3.9 Income tax benefit (expense) — (1.5 ) Income (loss) from discontinued operations $ (0.1 ) $ 2.4 Basic earnings (loss) per share $ — $ 0.05 Diluted earnings (loss) per share $ — $ 0.05

Segment Results (Tables)

Segment Results (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Operating Segment Information	Operating segment information for the three months ended March 31, 2018 and 2017 is summarized below (in millions): Three Months Ended March 31, 2018 2017 Operating Revenue: Commercial Real Estate $ 35.2 $ 33.7 Land Operations 29.3 11.0 Materials & Construction 48.8 48.5 Total operating revenue 113.3 93.2 Operating Profit (Loss): Commercial Real Estate 1 15.5 14.3 Land Operations 2,3 (5.4 ) (2.4 ) Materials & Construction 0.2 5.6 Total operating profit 10.3 17.5 Interest expense (8.4 ) (6.2 ) General corporate expenses (6.7 ) (5.7 ) REIT evaluation/conversion costs 4 — (4.8 ) Income (Loss) from Continuing Operations Before Income Taxes and Net Gain (Loss) on Sale of Improved Properties and Ground Leased Land (4.8 ) 0.8 Income tax benefit (expense) 2.7 0.8 Income (Loss) from Continuing Operations Before Net Gain (Loss) on Sale of Improved Properties and Ground Leased Land (2.1 ) 1.6 Net gain (loss) on the sale of improved properties and ground leased land 5 49.6 3.0 Income (Loss) from Continuing Operations 47.5 4.6 Income (loss) from discontinued operations, net of income taxes (0.1 ) 2.4 Net Income (Loss) 47.4 7.0 Income attributable to noncontrolling interest (0.1 ) (0.7 ) Net Income (Loss) Attributable to A&B Shareholders $ 47.3 $ 6.3 1 Commercial Real Estate operating profit includes intersegment operating revenue, primarily from our Materials & Construction segment, and is eliminated in our consolidated results of operations. 2 For the three months ended March 31, 2018 and 2017 , Land Operations segment operating loss includes approximately $2.6 million of equity in loss and $0.1 million of equity in earnings from its various real estate joint ventures, respectively. 3 For the three months ended March 31, 2018 and 2017 , Land Operations segment operating loss includes non-cash reductions of $0.1 million and $2.0 million , respectively, related to the Company's solar tax equity investments. The non-cash reductions, if any, are included in Reductions in solar investments, net on the condensed consolidated statements of operations. 4 Costs related to the Company's in-depth evaluation of and conversion to a REIT. 5 Amounts in 2018 represent the sales of the six mainland properties (Concorde Commerce Center, Deer Valley Financial Center, 1800 and 1820 Preston Park, Little Cottonwood Center, Royal MacArthur Center, and Sparks Business Center) and the three Hawai`i assets (Stangenwald Building, Judd Building and a ground lease). Amounts in 2017 represent the sales of one office building in Maui, Hawai`i in January 2017.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The Company disaggregates revenue from contracts with customers by revenue type as the Company believes it best depicts how the nature, amount, timing and uncertainty of the Company's revenue and cash flows are affected by economic factors. Three Months Ended March 31, 2018 2017 1 Revenues: Commercial real estate 2 $ 35.2 $ 33.7 Land Operations: Development sales revenue 23.0 2.4 Unimproved/other property sales revenue 0.3 1.6 Other operating revenue 6.0 7.0 Land Operations 29.3 11.0 Materials & Construction 48.8 48.5 Total revenues $ 113.3 $ 93.2 1 As noted above, prior period amounts have not been adjusted under the modified retrospective method. 2 As noted above, Commercial Real Estate revenue is not in scope under ASU 2014-09 however is presented here for completeness.

Contract Balances (Tables)

Contract Balances (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Schedule of Contract Balances	Beginning Balance as of Ending Balance as of (in millions) January 1, 2018 March 31, 2018 Accounts receivable, net $ 34.1 $ 37.5 Costs and estimated earnings in excess of billings on uncompleted contracts $ 20.2 $ 16.2 Deferred revenue $ 0.9 $ 3.0 Billings in excess of costs and estimated earnings on uncompleted contracts $ 5.7 $ 3.9

Description of Business (Detail

Description of Business (Details) $ / shares in Units, shares in Millions, $ in Millions	Jan. 23, 2018USD ($)	Nov. 16, 2017USD ($)$ / shares	Mar. 31, 2018Segment$ / sharesshares	Mar. 31, 2017$ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments | Segment			3
Dividends declared		$ 783
Dividends declared (in dollars per share) | $ / shares		$ 15.92	$ 11.65	$ 0.07
Payments of dividends	$ 156.6
Common shares issued	$ 626.4
Shares outstanding (shares) | shares			72

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Increase in cash flows from investing activities	$ 56.1	$ 12
Distributions in excess of accumulated earnings	$ 428.4		$ 474.4	$ 473
ASU 2016-18
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Increase in cash flows from investing activities		$ 1.6
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ASU 2014-09
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Distributions in excess of accumulated earnings			$ 1.4

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Interest and Other Income Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accounting Policies [Abstract]
Pension and postretirement benefit expense	$ (0.7)	$ (0.7)
Interest income	0.1	1
Other income (expense)	(0.1)	0
Interest and other income (expense), net (Note 2)	$ (0.7)	$ 0.3

Basis of Presentation - Impact

Basis of Presentation - Impact of Adoption of New Accounting Pronouncement (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other Assets	$ 57.1	$ 54.8	$ 56.2
Distributions in excess of accumulated earnings	$ (428.4)	(474.4)	(473)
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other Assets			56.2
Distributions in excess of accumulated earnings			$ (473)
ASU 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other Assets		(1.4)
Distributions in excess of accumulated earnings		$ (1.4)

Commitments and Contingencies -

Commitments and Contingencies - Summary of Commitments, Guarantees and Contingencies (Details) - Maximum $ in Millions	Mar. 31, 2018USD ($)
Standby letters of credit
Loss Contingencies [Line Items]
Maximum amount of possible loss contingency	$ 11.8
Bonds related to real estate and construction
Loss Contingencies [Line Items]
Maximum amount of possible loss contingency	$ 462.8

Commitments and Contingencies50

Commitments and Contingencies - Narrative (Details) $ in Millions	Apr. 10, 2015plaintiff	Dec. 31, 2016applicant	Mar. 31, 2018USD ($)ajoint_ventureLicense	May 24, 2001UnitPetitionStream
Performance Bond | Maximum
Loss Contingencies [Line Items]
Possible administrative penalty | $			$ 438.7
Long Term Water Lease Request
Loss Contingencies [Line Items]
Number of water licenses held and extended as revocable permits | License			4
Additional watershed lands accessible by licenses (in acres) | a			30,000
Long Term Water Lease Request | East Maui
Loss Contingencies [Line Items]
Watershed lands owned (in acres) | a			16,000
Petitions Filed Requesting IIFS In West Maui Streams
Loss Contingencies [Line Items]
Number of parties filed lawsuit | plaintiff	3
Petitions Filed Requesting IIFS In East Maui Streams
Loss Contingencies [Line Items]
Number of streams for which IIFS was requested | Stream				27
Number of petitions on which Water Commission took action | Petition				27
Number of hydrologic units | Unit				23
Number of hydrologic units restored | Unit				11
Petitions Filed Requesting IIFS In Central Maui Streams
Loss Contingencies [Line Items]
Number of permit applicants | applicant		100
Financial Guarantee
Loss Contingencies [Line Items]
Number of joint ventures | joint_venture			3
Guarantor obligations, current carrying value | $			$ 5.6

Earnings Per Share (_EPS_) - Sc

Earnings Per Share (“EPS”) - Schedule of Reconciliation of Income from Continuing Operations and Computation of Earnings per Share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Income from continuing operations, net of income taxes	$ 47.5	$ 4.6
Less: Income attributable to noncontrolling interest	(0.1)	(0.7)
Income from continuing operations attributable to A&B shareholders, net of income taxes	47.4	3.9
Undistributed earnings (losses) allocated to redeemable noncontrolling interest	0	0.5
Income from continuing operations available to A&B shareholders, net of income taxes	47.4	4.4
Income (loss) from discontinued operations available to A&B shareholders, net of income taxes	(0.1)	2.4
Net income (loss) available to A&B shareholders	$ 47.3	$ 6.8
Effect of dilutive securities:
Denominator for basic EPS – weighted-average shares outstanding (in shares)	66.4	49.1
Non-participating stock options and restricted stock unit awards (in shares)	0.4	0.5
Incremental Common Shares Attributable to Special Distribution	5.4	0
Denominator for diluted EPS – weighted average shares outstanding (in shares)	72.2	49.6

Earnings Per Share (_EPS_) - Na

Earnings Per Share (“EPS”) - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from the computation of weighted average dilutive shares outstanding (in shares)	100,000	0

Fair Value of Financial Instr53

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Company's debt	$ 838.6	$ 631.2
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Company's debt	$ 807.6	$ 642.3

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Inventories	$ 29.6	$ 31.9
Asphalt
Inventory [Line Items]
Inventories	9.1	12.2
Processed rock, Portland cement, and sand
Inventory [Line Items]
Inventories	14	13.5
Work in progress
Inventory [Line Items]
Inventories	3.2	2.8
Retail merchandise
Inventory [Line Items]
Inventories	1.7	1.7
Parts, materials and supplies inventories
Inventory [Line Items]
Inventories	$ 1.6	$ 1.7

Share-Based Payment Awards - Na

Share-Based Payment Awards - Narrative (Details)	3 Months Ended
	Mar. 31, 2017
2012 Plan | Restricted Stock Units (RSUs) | Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Share-Based Payment Awards - Sc

Share-Based Payment Awards - Schedule of Stock Option Activity (Details) - Stock Options - 2012 Plan - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	10 Months Ended
	Mar. 31, 2018	Nov. 08, 2017
2012 Plan Stock Options
Outstanding, beginning balance (in shares)	630,500
Exercised (in shares)		0
Forfeited and expired (in shares)		0
Outstanding, ending balance (in shares)	630,500
Vested or expected to vest (in shares)	630,500
Exercisable (in shares)	630,500
Weighted- average exercise price
Outstanding, beginning balance (in dollars per share)	$ 12.58
Exercised (in dollars per share)		$ 0
Forfeited and expired (in dollars per share)		$ 0
Outstanding, ending balance (in dollars per share)	12.58
Vested or expected to vest (in dollars per share)	12.58
Exercisable (in dollars per share)	$ 12.58
Weighted- average contractual life
Weighted Average Contractual Life, Outstanding	2 years 8 months 12 days
Weighted Average Contractual Life, Vested or expected to vest (in years)	2 years 8 months 12 days
Weighted Average Contractual Life, Exercisable	2 years 8 months 12 days
Aggregate intrinsic value
Aggregate Intrinsic Value, Outstanding	$ 6,679
Aggregate Intrinsic Value, Vested or expected to vest	6,679
Aggregate Intrinsic Value, Exercisable	$ 6,679

Share-Based Payment Awards - Su

Share-Based Payment Awards - Summary of Non-vested Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) - 2012 Plan	3 Months Ended
	Mar. 31, 2018$ / sharesshares
2012 Plan restricted stock units
Outstanding, beginning balance (in shares) | shares	318,900
Anti-dilutive adjustment for special distribution (in shares) | shares	182,900
Granted (in shares) | shares	210,400
Vested (in shares) | shares	(116,800)
Canceled (in shares) | shares	(39,900)
Outstanding, ending balance (in shares) | shares	555,500
Weighted- average grant-date fair value
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 36.66
Anti-dilutive adjustment for special distribution (in dollars per share) | $ / shares
Granted (in dollars per share) | $ / shares	29.89
Vested (in dollars per share) | $ / shares	24.39
Canceled (in dollars per share) | $ / shares	24.15
Outstanding, ending balance (in dollars per share) | $ / shares	$ 25.34

Share-Based Payment Awards - 58

Share-Based Payment Awards - Schedule of Fair Value Assumptions of Market-based Awards (Details) - Restricted Stock Units (RSUs) - 2012 Plan - Time-Based Vesting	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility of A&B common stock (percent)	22.70%	25.40%
Average volatility of peer companies (percent)	21.60%	25.70%
Risk-free interest rate (percent)	2.30%	1.50%

Share-Based Payment Awards - 59

Share-Based Payment Awards - Summary of Compensation Cost related to Share-based Payments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based expense	$ 1.3	$ 1.1
Tax benefit realized upon option exercise	(0.1)	(0.4)
Fair value of stock vested	1.2	0.7
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based expense	$ 1.3	$ 1.1

Related Party Transactions (Det

Related Party Transactions (Details) - Affiliated Entity - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Materials and Construction | Supplier Contracts
Related Party Transaction [Line Items]
Revenue from related parties	$ 4,500,000	$ 3,900,000
Receivables from related parties	2,100,000		$ 2,900,000
Payables to related parties	900,000
Real estate leasing and development
Related Party Transaction [Line Items]
Contract term			5 years
Real estate leasing and development | Lease Agreements
Related Party Transaction [Line Items]
Revenue from related parties	1,500,000	1,400,000
Real estate leasing and development | Land Operations
Related Party Transaction [Line Items]
Revenue from related parties		$ 700,000
Real estate leasing and development | Extension of Secured Note Receivable [Member]
Related Party Transaction [Line Items]
Note secured by a mortgage on real property			$ 16,000,000
Receivable from related party	$ 10,100,000

Employee Benefit Plans - Summar

Employee Benefit Plans - Summary of Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Postemployment Retirement Benefits [Member]
Components of Net Periodic Benefit Cost
Service cost	$ 0	$ 0.1
Interest cost	0.1	0.1
Expected return on plan assets	0	0
Amortization of net loss	0	0
Amortization of prior service cost	0	0
Net periodic benefit cost	0.1	0.2
Pension Plan [Member]
Components of Net Periodic Benefit Cost
Service cost	0.5	0.8
Interest cost	1.9	2.1
Expected return on plan assets	(1.9)	(2.4)
Amortization of net loss	1	1.2
Amortization of prior service cost	(0.2)	(0.3)
Net periodic benefit cost	$ 1.3	$ 1.4

Asset Acquisition (Details)

Asset Acquisition (Details) - USD ($) $ in Millions	Feb. 23, 2018	Mar. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Property – Net		$ 1,317.6	$ 1,147.5
Total assets		2,310.7	2,231.2
Long term debt		838.6	631.2
Total liabilities		$ 977.5	$ 1,572.1
TRC Acquisition | Hawaii
Real Estate [Line Items]
Purchase consideration	$ 256.7
Payments to acquire real estate	254.1
Debt assumed	62
Capitalized acquisition costs	2.6
Land	80.2
Property – Net	141.7
In-place/favorable leases	36
Total assets	257.9
Unfavorable leases	2.2
Long term debt	61
Total liabilities	63.2
Net assets acquired	$ 194.7
TRC Acquisition | In-place / Favorable and Unfavorable Leases | Hawaii
Real Estate [Line Items]
Weighted average life	12 years

Accumulated Other Comprehensi63

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Total Equity
Beginning balance	$ 651.1
Other comprehensive income (loss) before reclassifications, net of taxes of $0.5 for interest rate swap	1.3
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0.2 for employee benefit plans	0.6
Ending balance	1,325.2
Other comprehensive loss before reclassifications, tax	0.5
Amounts reclassified from accumulated other comprehensive loss, tax	0.2
AOCI Attributable to Parent
Total Equity
Beginning balance	(42.3)
Ending balance	(40.4)
Employee Benefit Plans
Total Equity
Beginning balance	(44.2)
Other comprehensive income (loss) before reclassifications, net of taxes of $0.5 for interest rate swap	0
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0.2 for employee benefit plans	0.6
Ending balance	(43.6)
Interest Rate Swap
Total Equity
Beginning balance	1.9
Other comprehensive income (loss) before reclassifications, net of taxes of $0.5 for interest rate swap	1.3
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0.2 for employee benefit plans	0
Ending balance	$ 3.2

Accumulated Other Comprehensi64

Accumulated Other Comprehensive Loss - Reclassification of Other Comprehensive Income (Loss) Components (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Equity [Abstract]
Unrealized interest rate hedging gain (loss)	$ 1.8	$ 0
Reclassification adjustment for interest expense included in net income or loss	0	0.2
Amortization of net loss included in net periodic pension credit	1	1.2
Amortization of prior service credit included in net periodic pension cost	(0.2)	(0.3)
Other Comprehensive Income (Loss), before Tax	2.6	1.1
Income taxes related to other comprehensive income	(0.7)	(0.4)
Other comprehensive income (loss), net of tax	$ 1.9	$ 0.7

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Equity Method Investments [Line Items]
Non-cash reduction in equity method investments	$ 0.1	$ 2
Waihonu
Schedule of Equity Method Investments [Line Items]
Non-cash reduction in equity method investments	$ 0.1	$ 2

Notes Payable and Long-Term D66

Notes Payable and Long-Term Debt - Schedule of Notes Payable and Long-term Debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt, gross	$ 840.2	$ 631.8
Unamortized debt premium (discount)	(0.5)	0.5
Unamortized debt issuance costs	(1.1)	(1.1)
Total debt (carrying value)	838.6	631.2
Less current portion	(42.8)	(46)
Long-term debt	795.8	585.2
Wells Fargo GLP Revolver, Due 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	0.5
Basis spread on variable rate	1.50%
A & B Revolver Due 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 181.2	66
Basis spread on variable rate	1.65%
2.00%, payable through 2018, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	0.1
Stated interest rate	2.00%
3.31%, payable through 2018, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 0.5	1
Stated interest rate	3.31%
5.19%, payable through 2019, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 3.9	4.4
Stated interest rate	5.19%
6.90%, payable through 2020, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 32.5	48.8
Stated interest rate	6.90%
LIBOR plus 2.00%, payable through 2021 | LIBOR
Debt Instrument [Line Items]
Long-term debt, gross	$ 9.4
Basis spread on variable rate	2.00%
LIBOR plus 1.0%, payable through 2021, secured by asphalt terminal | LIBOR
Debt Instrument [Line Items]
Long-term debt, gross	$ 4.5	4.8
Basis spread on variable rate	1.00%
3.15%, payable through 2021, second mortgage secured by Kailua Town Center III
Debt Instrument [Line Items]
Long-term debt, gross	$ 4.9	4.9
Stated interest rate	3.15%
LIBOR plus 1.5%, payable through 2021, secured by Kailua Town Center III | LIBOR
Debt Instrument [Line Items]
Long-term debt, gross	$ 10.8	10.8
Basis spread on variable rate	1.50%
5.53%, payable through 2024, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 28.5	28.5
Stated interest rate	5.53%
3.90%, payable through 2024, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 62.5	62.6
Stated interest rate	3.90%
4.15%, payable through 2024, secured by Pearl Highlands Center
Debt Instrument [Line Items]
Long-term debt, gross	$ 86.5	87
Stated interest rate	4.15%
5.55%, payable through 2026, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 46	46
Stated interest rate	5.55%
5.56%, payable through 2026, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 25	25
Stated interest rate	5.56%
4.35%, payable through 2026, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 22	22
Stated interest rate	4.35%
4.04%, payable through 2026, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 50	50
Stated interest rate	4.04%
3.88%, payable through 2027, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 50	50
Stated interest rate	3.88%
4.16%, payable through 2028, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 25	25
Stated interest rate	4.16%
4.30%, payable through 2029, unsecured
Debt Instrument [Line Items]
Long-term debt, gross	$ 25	25
Stated interest rate	4.30%
LIBOR plus 1.35%, payable through 2029, secured by Manoa Marketplace | LIBOR
Debt Instrument [Line Items]
Long-term debt, gross	$ 60	60
Basis spread on variable rate	1.35%
3.93%, payable through 2024, secured by Laulani Village
Debt Instrument [Line Items]
Long-term debt, gross	$ 62	0
Stated interest rate	3.93%
LIBOR plus 1.60%, payable through 2023, unsecured | LIBOR
Debt Instrument [Line Items]
Long-term debt, gross	$ 50	$ 0
Basis spread on variable rate	1.60%
Maximum | LIBOR plus 1.0%, payable through 2021, secured by asphalt terminal | LIBOR
Debt Instrument [Line Items]
Swapped maturity fixed interest rate	5.98%
Maximum | LIBOR plus 1.5%, payable through 2021, secured by Kailua Town Center III | LIBOR
Debt Instrument [Line Items]
Swapped maturity fixed interest rate	5.95%
Maximum | LIBOR plus 1.35%, payable through 2029, secured by Manoa Marketplace | LIBOR
Debt Instrument [Line Items]
Swapped maturity fixed interest rate	3.14%

Notes Payable and Long-Term D67

Notes Payable and Long-Term Debt - Narrative (Details) - USD ($)	3 Months Ended	47 Months Ended
	Mar. 31, 2018	May 01, 2024	Apr. 18, 2018	Feb. 26, 2018
Mortgages | Mortgage Secured by Laulani Village
Debt Instrument [Line Items]
Note secured by a mortgage on real property	$ 62,000,000
Stated interest rate	3.93%
Periodic payment	$ 200,000
Forecast | Mortgages | Mortgage Secured by Laulani Village
Debt Instrument [Line Items]
Periodic payment		$ 300,000
Wells Fargo Term Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 50,000,000
Long-term line of credit	$ 50,000,000
Subsequent Event | Amended Prudential Facility
Debt Instrument [Line Items]
Stated interest rate			3.90%
Maximum borrowing capacity			$ 62,500,000
Subsequent Event | Amended Prudential Facility | Prudential Facility, Maturing 2025
Debt Instrument [Line Items]
Stated interest rate			4.66%
Maximum borrowing capacity			$ 10,000,000
Subsequent Event | Amended Prudential Facility | Prudential Facility, Maturing 2027
Debt Instrument [Line Items]
Stated interest rate			4.81%
Maximum borrowing capacity			$ 34,500,000
Subsequent Event | Amended Prudential Facility | Prudential Facility, Maturing 2028
Debt Instrument [Line Items]
Stated interest rate			4.89%
Maximum borrowing capacity			$ 18,000,000

Cessation of Sugar Operations -

Cessation of Sugar Operations - Summary of Pre-tax Costs and Remaining Costs Associated with Restructuring (Details) - HC&S $ in Millions	3 Months Ended	39 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2018USD ($)
Total Cessation-related costs
Restructuring Cost and Reserve [Line Items]
Expense	$ 0.1	$ 103
Total Cessation-related costs | Minimum
Restructuring Cost and Reserve [Line Items]
Remaining to be Recognized	0.8	0.8
Total Expected Cost	103.8	103.8
Employee severance benefits and related costs
Restructuring Cost and Reserve [Line Items]
Expense	0	22.1
Employee severance benefits and related costs | Minimum
Restructuring Cost and Reserve [Line Items]
Remaining to be Recognized	0	0
Total Expected Cost	22.1	22.1
Asset write-offs and accelerated depreciation
Restructuring Cost and Reserve [Line Items]
Expense	0	71.3
Asset write-offs and accelerated depreciation | Minimum
Restructuring Cost and Reserve [Line Items]
Remaining to be Recognized	0	0
Total Expected Cost	71.3	71.3
Property removal, restoration and other exit-related costs
Restructuring Cost and Reserve [Line Items]
Expense	0.1	9.6
Property removal, restoration and other exit-related costs | Minimum
Restructuring Cost and Reserve [Line Items]
Remaining to be Recognized	0.8	0.8
Total Expected Cost	$ 10.4	$ 10.4

Cessation of Sugar Operations69

Cessation of Sugar Operations - Rollforward of Restructuring Liabilities (Details) - HC&S - Property removal, restoration and other exit-related costs - USD ($) $ in Millions	3 Months Ended	39 Months Ended
	Mar. 31, 2018	Mar. 31, 2018
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 4.6
Expense	0.1	$ 9.6
Cash payments	(0.3)
Restructuring reserve, ending balance	$ 4.4	$ 4.4

Investments in Affiliates - Sum

Investments in Affiliates - Summary of Financial Information for Equity Method Investments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement
Operating revenue	$ 64.4	$ 40.6
Operating costs and expenses	58.1	33.6
Operating income	6.3	7
Income from continuing operations	(2.2)	3.3
Net income	$ (2.2)	$ 3.3

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges of Interest Rate Swaps (Details) - Cash Flow Hedging - Interest Rate Swap - Designated as Hedging Instrument - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional Amount at		$ 60,000,000
Other Assets
Derivative [Line Items]
Rate	3.14%
Notional Amount at	$ 60,000,000
Interest rate derivative, at fair value	$ 4,600,000	$ 2,800,000

Derivative Instruments - Non-de

Derivative Instruments - Non-designated Hedges Interest Rate Swaps (Details) - Not Designated as Hedging Instrument $ in Millions	Mar. 31, 2018USD ($)interest_rate_swap	Dec. 31, 2017USD ($)
9/1/2021 | Other Non-Current Liabilities
Derivative [Line Items]
Rate	5.95%
Notional Amount at	$ 10.8
Fair value of interest rate swap liability	$ (0.7)	$ (0.9)
3/1/2021 | Other Non-Current Liabilities
Derivative [Line Items]
Rate	5.98%
Notional Amount at	$ 4.5
Fair value of interest rate swap liability	$ (0.2)	(0.3)
Interest Rate Swap
Derivative [Line Items]
Number of interest rate swap agreements | interest_rate_swap	2
Interest Rate Swap | Other Non-Current Liabilities
Derivative [Line Items]
Notional Amount at	$ 15.3
Fair value of interest rate swap liability	$ (0.9)	$ (1.2)

Derivative Instruments - Deriva

Derivative Instruments - Derivative Instruments in Designated Cash Flow Hedging Relationships (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Amount of (gain) loss recognized in OCI on derivatives (effective portion)	$ (1.8)	$ 0
Amounts of (gain) loss reclassified from accumulated OCI into earnings under interest expense (ineffective portion and amount excluded from effectiveness testing)	$ 0	$ (0.2)

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Basic earnings (loss) per share (in dollars per share)		$ 0.05
Diluted earnings (loss) per share (in dollars per share)		$ 0.05
Depreciation and amortization related to discontinued Operations	$ 0	$ 0
Discontinued Operations | Sugar Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sugar operations revenue	0	22,100,000
Cost of discontinued sugar operations	100,000	22,300,000
Operating income (loss) from sugar operations	(100,000)	(200,000)
Gain on asset dispositions	0	4,100,000
Income (loss) from discontinued operations before income taxes	(100,000)	3,900,000
Income tax benefit (expense)	0	(1,500,000)
Income (loss) from discontinued operations	$ (100,000)	$ 2,400,000
Basic earnings (loss) per share (in dollars per share)	$ 0	$ 0.05
Diluted earnings (loss) per share (in dollars per share)	$ 0	$ 0.05

Segment Results - Narrative (De

Segment Results - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue, Major Customer [Line Items]
Income (loss) related to joint ventures	$ (2.6)	$ 1.3
Non-cash reduction in equity method investments	0.1	2
Land Operations
Revenue, Major Customer [Line Items]
Income (loss) related to joint ventures	$ (2.6)	$ 0.1

Segment Results - Schedule of O

Segment Results - Schedule of Operating Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	$ 113.3	$ 93.2
Total Segment Operating Profit (Loss)	10.3	17.5
Interest expense	(8.4)	(6.2)
General corporate expenses	(6.7)	(5.7)
REIT evaluation/conversion costs	0	(4.8)
Income (Loss) from Continuing Operations Before Income Taxes and Net Gain (Loss) on Sale of Improved Properties and Ground Leased Land	(4.8)	0.8
Income tax benefit (expense)	2.7	0.8
Income (Loss) from Continuing Operations Before Net Gain (Loss) on Sale of Improved Properties	(2.1)	1.6
Gain (loss) on the sale of improved property, net	49.6	3
Income (Loss) from Continuing Operations	47.5	4.6
Income (loss) from discontinued operations, net of income taxes	(0.1)	2.4
Net Income (Loss)	47.4	7
Income attributable to noncontrolling interest	(0.1)	(0.7)
Net Income (Loss) Attributable to A&B Shareholders	47.3	6.3
Commercial Real Estate
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	35.2	33.7
Total Segment Operating Profit (Loss)	15.5	14.3
Net Income (Loss) Attributable to A&B Shareholders	47.3	6.3
Land Operations
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	29.3	11
Total Segment Operating Profit (Loss)	(5.4)	(2.4)
Materials and Construction
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	48.8	48.5
Total Segment Operating Profit (Loss)	$ 0.2	$ 5.6

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Real estate leasing revenue	$ 35.2	$ 33.7
Total operating revenue	113.3	93.2
Land Operations
Disaggregation of Revenue [Line Items]
Land Operations	29.3	11
Development Sales
Disaggregation of Revenue [Line Items]
Land Operations	23	2.4
Unimproved / Other Property Sales
Disaggregation of Revenue [Line Items]
Land Operations	0.3	1.6
Other Operations
Disaggregation of Revenue [Line Items]
Land Operations	6	7
Materials and Construction
Disaggregation of Revenue [Line Items]
Land Operations	$ 48.8	$ 48.5

Revenues - Narrative (Details)

Revenues - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 198.4
Performance obligation satisfaction period	9 months
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining obligation expected to be satisfied (percent)	55.00%
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining obligation expected to be satisfied (percent)	60.00%

Contract Balances (Details)

Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 37.5	$ 34.1	$ 34.1
Costs and estimated earnings in excess of billings on uncompleted contracts	16.2	20.2	20.2
Deferred revenue	3	0.9	0.9
Billings in excess of costs and estimated earnings on uncompleted contracts	3.9	$ 5.7	$ 5.7
Revenue recognized related to contract liabilities	$ 2.2