Alexander & Baldwin (ALEX) 10-Q 1 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Sep. 30, 2019shares
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-35492
Entity Registrant Information	ALEXANDER & BALDWIN, INC.
Entity Incorporation, State or Country Code	HI
Entity Tax Identification Number	45-4849780
Entity Address, Address Line One	P. O. Box 3440,
Entity Address, City or Town	Honolulu,
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96801
City Area Code	808
Local Phone Number	525-6611
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	ALEX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)	72,258,124
Entity Central Index Key	0001545654
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Real estate investments
Real estate property	$ 1,531.4	$ 1,293.7
Accumulated depreciation	(124.3)	(107.2)
Real estate property, net	1,407.1	1,186.5
Real Estate Developments	93.8	155.2
Investments in real estate joint ventures and partnerships	135.4	141
Real estate intangible assets, net	78.7	59.8
Real estate investments, net	1,715	1,542.5
Cash and cash equivalents	7.2	11.4
Restricted cash	0.2	223.5
Accounts receivable and retention, net	67.8	61.2
Inventories	23.9	26.5
Other property, net	131.4	135.5
Operating lease right-of-use assets	22.7
Goodwill	15.4	65.1
Other receivables	28.7	56.8
Prepaid expenses and other assets	109.4	102.7
Total assets	2,121.7	2,225.2
Liabilities:
Notes payable and other debt	732.4	778.1
Accounts payable	15	34.2
Operating lease liabilities	23
Accrued pension and post-retirement benefits	31.4	29.4
Indemnity holdbacks	7.5	16.3
Deferred revenue	68.4	63.2
Accrued and other liabilities	107.7	87.8
Total liabilities	985.4	1,009
Commitments and Contingencies
Redeemable Noncontrolling Interest	7.9	7.9
Equity:
Common stock - no par value; authorized, 150 million shares; outstanding, 72.3 million and 72.0 million shares at September 30, 2019 and December 31, 2018, respectively	1,797.4	1,793.4
Accumulated other comprehensive income (loss)	(55)	(51.9)
Distributions in excess of accumulated earnings	(617.6)	(538.9)
Total A&B shareholders' equity	1,124.8	1,202.6
Noncontrolling interest	3.6	5.7
Total equity	1,128.4	1,208.3
Total liabilities and equity	$ 2,121.7	$ 2,225.2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock authorized (shares)	150,000,000	150,000,000
Common stock outstanding (shares)	72,300,000	72,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating Revenue:
Total operating revenue	$ 89.1	$ 119.4	$ 327.6	$ 344.8
Operating Costs and Expenses:
Selling, general and administrative	13.3	14.6	45.1	44.7
Goodwill impairment	49.7	0	49.7	0
Total operating costs and expenses	134.7	101.7	354.8	312.2
Gain (loss) on the sale of commercial real estate properties	0	0	0	49.8
Operating Income (Loss)	(45.6)	17.7	(27.2)	82.4
Other Income and (Expenses):
Income (loss) related to joint ventures	2.4	4.5	6.1	6.3
Interest and other income (expense), net (Note 2)	0.6	3.7	2.8	2.1
Interest expense	(8.2)	(9.1)	(25.4)	(26.4)
Income (Loss) from Continuing Operations Before Income Taxes	(50.8)	16.8	(43.7)	64.4
Income tax benefit (expense)	0	(1)	1.1	1.8
Income (Loss) from Continuing Operations	(50.8)	15.8	(42.6)	66.2
Income (loss) from discontinued operations, net of income taxes	(0.1)	(0.2)	(0.8)	(0.2)
Net Income (Loss)	(50.9)	15.6	(43.4)	66
Loss (income) attributable to noncontrolling interest	1.1	(0.8)	1.8	(1.4)
Net Income (Loss) Attributable to A&B Shareholders	$ (49.8)	$ 14.8	$ (41.6)	$ 64.6
Basic Earnings (Loss) Per Share of Common Stock:
Continuing operations available to A&B shareholders (in dollars per share)	$ (0.69)	$ 0.21	$ (0.57)	$ 0.92
Discontinued operations available to A&B shareholders (in dollars per share)	0	0	(0.01)	0
Net income (loss) available to A&B shareholders (in dollars per share)	(0.69)	0.21	(0.58)	0.92
Diluted Earnings (Loss) Per Share of Common Stock:
Continuing operations available to A&B shareholders (in dollars per share)	(0.69)	0.20	(0.57)	0.89
Discontinued operations available to A&B shareholders (in dollars per share)	0	0	(0.01)	0
Net income (loss) available to A&B shareholders (in dollars per share)	$ (0.69)	$ 0.20	$ (0.58)	$ 0.89
Weighted-Average Number of Shares Outstanding:
Basic (in shares)	72.3	72	72.2	70.2
Diluted (in shares)	72.3	72.4	72.2	72.4
Amounts Available to A&B Shareholders (Note 4):
Continuing operations available to A&B shareholders	$ (49.7)	$ 15	$ (40.8)	$ 64.8
Discontinued operations available to A&B shareholders	(0.1)	(0.2)	(0.8)	(0.2)
Net income (loss) available to A&B shareholders	(49.8)	14.8	(41.6)	64.6
Commercial Real Estate
Operating Revenue:
Commercial Real Estate	42.7	35.9	118.6	104.9
Operating Costs and Expenses:
Cost of Commercial Real Estate	23.8	19.2	64.3	57
Land Operations
Operating Revenue:
Revenues	8.5	24	82.4	72.6
Operating Costs and Expenses:
Operating costs	5.9	17.4	68.5	67
Materials & Construction
Operating Revenue:
Revenues	37.9	59.5	126.6	167.3
Operating Costs and Expenses:
Operating costs	$ 42	$ 50.5	$ 127.2	$ 143.5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (50.9)	$ 15.6	$ (43.4)	$ 66
Other Comprehensive Income (Loss), net of tax:
Unrealized interest rate hedging gain (loss)	(2)	0.6	(5.5)	3
Impact of reclassification adjustment to interest expense included in Net Income (Loss)	0.2	0	(0.1)	0
Defined benefit pension plans:
Amortization of net loss included in net periodic pension cost	0.9	1.1	2.9	3.3
Amortization of prior service credit included in net periodic pension cost	(0.1)	(0.2)	(0.4)	(0.5)
Curtailment (gain)/loss	0	0	0	(0.4)
Income taxes related to other comprehensive income (loss)	0	(0.4)	0	(1.4)
Other comprehensive income (loss), net of tax	(1)	1.1	(3.1)	4
Comprehensive Income (Loss)	(51.9)	16.7	(46.5)	70
Comprehensive (income) loss attributable to noncontrolling interest	1.1	(0.8)	1.8	(1.4)
Comprehensive Income (Loss) Attributable to A&B Shareholders	$ (50.8)	$ 15.9	$ (44.7)	$ 68.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities:
Net Income (Loss)	$ (43.4)	$ 66
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:
Depreciation and amortization	36.6	31.6
Deferred income taxes	0	(2.4)
Loss (gain) on asset transactions, net	(2.6)	(62.1)
Goodwill impairment	49.7	0
Share-based compensation expense	4.1	4
(Income) loss from affiliates, net of distributions of income	(3.5)	2
Changes in operating assets and liabilities:
Trade, contracts retention, and other contract receivables	(6.9)	(4.9)
Inventories	2.6	(0.3)
Prepaid expenses, income tax receivable and other assets	25.8	(4.1)
Accrued pension and post-retirement benefits	4.6	2.5
Accounts payable	(10.3)	(8.3)
Accrued and other liabilities	6.6	(7.3)
Real estate development for sale proceeds	48.5	41
Expenditures for real estate development for sale	(7.8)	(20)
Net cash provided by (used in) operations	104	37.7
Cash Flows from Investing Activities:
Capital expenditures for acquisitions	(218.4)	(201.6)
Capital expenditures for property, plant and equipment	(31.8)	(40)
Proceeds from disposal of property, investments and other assets	3	169.3
Payments for purchases of investments in affiliates and other investments	(3.3)	(21.3)
Distributions of capital from investments in affiliates and other investments	12.2	32.8
Net cash provided by (used in) investing activities	(238.3)	(60.8)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt	111.8	533.5
Payments of long-term debt and deferred financing costs	(155.3)	(433.6)
Borrowings (payments) on line-of-credit agreement, net	(5.1)	(14.2)
Distribution to noncontrolling interests	(0.3)	(0.2)
Cash dividends paid	(36.2)	(156.6)
Proceeds from issuance (repurchase) of common stock and other, net	(1)	(1.3)
Payment of deferred acquisition holdback	(7.1)	0
Net cash provided by (used in) financing activities	(93.2)	(72.4)
Cash, Cash Equivalents and Restricted Cash:
Net increase (decrease) in cash, cash equivalents, and restricted cash	(227.5)	(95.5)
Balance, beginning of period	234.9	103.2
Balance, end of period	7.4	7.7
Other Cash Flow Information:
Interest paid, net of capitalized interest	(25.2)	(26.1)
Income tax (payments)/refunds, net	25.8	1.9
Noncash Investing and Financing Activities:
Capital expenditures included in accounts payable and accrued expenses	2.6	2
Fair value of loan assumed in connection with acquisition	0	61
Issuance of shares for stock dividend	0	626.4
Right-of-use (ROU) assets and corresponding lease liability recorded upon ASC 842 adoption	31
Lease liabilities arising from obtaining ROU assets	1.7
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents, beginning of period	11.4	68.9
Restricted cash, beginning of period	223.5	34.3
Cash and cash equivalents, end of period	7.2	7.5
Restricted cash, end of period	0.2	0.2
Cash, cash equivalents and restricted cash	$ 234.9	$ 103.2

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Accumulated Other Compre- hensive Income (Loss)	(Distribution in Excess of Accumulated Earnings)	Non-Controlling Interest	Redeem- able Non- Controlling Interest
Beginning balance (in shares) at Dec. 31, 2017		49,300,000
Beginning balance at Dec. 31, 2017	$ 651.1	$ 1,161.7	$ (42.3)	$ (473)	$ 4.7
Total Equity
Net income (loss)	65.4			64.6	0.8
Other comprehensive income (loss), net of tax	4		4
Stock dividend (in shares)		22,600,000
Stock dividend	626.4	$ 626.4
Distributions to noncontrolling interest	(0.2)				(0.2)
Share-based compensation	4	$ 4
Shares issued or repurchased, net (in shares)		100,000
Shares issued or repurchased, net	(1.3)			(1.3)
Ending balance (in shares) at Sep. 30, 2018		72,000,000
Ending balance at Sep. 30, 2018	1,348.6	$ 1,792.1	(38.3)	(410.5)	5.3
Redeemable Non-Controlling Interest, beginning balance at Dec. 31, 2017						$ 8
Redeemable Non-Controlling Interest
Net income (loss)						0.6
Adjustments to redemption value of redeemable noncontrolling interest	0.6			0.6		(0.6)
Redeemable Non-Controlling Interest, ending balance at Sep. 30, 2018						8
Beginning balance (in shares) at Jun. 30, 2018		72,000,000
Beginning balance at Jun. 30, 2018	1,330.4	$ 1,790.8	(39.4)	(426)	5
Total Equity
Net income (loss)	15.1			14.8	0.3
Other comprehensive income (loss), net of tax	1.1		1.1
Share-based compensation	1.3	$ 1.3
Shares issued or repurchased, net	0.2			0.2
Ending balance (in shares) at Sep. 30, 2018		72,000,000
Ending balance at Sep. 30, 2018	1,348.6	$ 1,792.1	(38.3)	(410.5)	5.3
Redeemable Non-Controlling Interest, beginning balance at Jun. 30, 2018						8
Redeemable Non-Controlling Interest
Net income (loss)						0.5
Adjustments to redemption value of redeemable noncontrolling interest	0.5			0.5		(0.5)
Redeemable Non-Controlling Interest, ending balance at Sep. 30, 2018						8
Beginning balance (in shares) at Dec. 31, 2018		72,000,000
Beginning balance at Dec. 31, 2018	1,208.3	$ 1,793.4	(51.9)	(538.9)	5.7
Total Equity
Net income (loss)	(43.4)			(41.6)	(1.8)
Other comprehensive income (loss), net of tax	(3.1)		(3.1)
Dividend on common stock	(36.2)			(36.2)
Distributions to noncontrolling interest	(0.3)				(0.3)
Share-based compensation	4.1	$ 4.1
Shares issued or repurchased, net (in shares)		300,000
Shares issued or repurchased, net	(1)	$ (0.1)		(0.9)
Ending balance (in shares) at Sep. 30, 2019		72,300,000
Ending balance at Sep. 30, 2019	1,128.4	$ 1,797.4	(55)	(617.6)	3.6
Redeemable Non-Controlling Interest, beginning balance at Dec. 31, 2018	7.9					7.9
Redeemable Non-Controlling Interest, ending balance at Sep. 30, 2019	7.9					7.9
Beginning balance (in shares) at Jun. 30, 2019		72,200,000
Beginning balance at Jun. 30, 2019	1,192.6	$ 1,795.9	(54)	(554)	4.7
Total Equity
Net income (loss)	(50.9)			(49.8)	(1.1)
Other comprehensive income (loss), net of tax	(1)		(1)
Dividend on common stock	(13.8)			(13.8)
Share-based compensation	1.4	$ 1.4
Shares issued or repurchased, net (in shares)		100,000
Shares issued or repurchased, net	0.1	$ 0.1
Ending balance (in shares) at Sep. 30, 2019		72,300,000
Ending balance at Sep. 30, 2019	1,128.4	$ 1,797.4	$ (55)	$ (617.6)	$ 3.6
Redeemable Non-Controlling Interest, beginning balance at Jun. 30, 2019						7.9
Redeemable Non-Controlling Interest, ending balance at Sep. 30, 2019	$ 7.9					$ 7.9

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.19	$ 0.50	$ 11.65

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	DESCRIPTION OF BUSINESS Alexander & Baldwin, Inc. ("A&B" or the "Company") is a real estate investment trust ("REIT") headquartered in Honolulu, Hawai‘i. The Company operates three segments: Commercial Real Estate ("CRE"); Land Operations; and Materials & Construction ("M&C"). As of September 30, 2019 , the Company's CRE improved real estate consisted of twenty-two retail centers, ten industrial assets and four office properties in Hawai‘i, representing a total of 3.9 million square feet of gross leasable area. The Company also owns a portfolio of ground leases in Hawai‘i that comprised 154 acres as of September 30, 2019 .

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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, 2018 and 2017 , 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, 2018 , 2017 and 2016, respectively, and the notes thereto included in the Company's Annual Report filed on Form 10-K for the year ended December 31, 2018 (" 2018 Form 10-K"), and other subsequent filings with the U.S. Securities and Exchange Commission ("SEC"). 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 2018 Form 10-K. Changes to significant accounting policies are included herein. Reclassifications Unclassified Balance Sheet: During the first quarter of 2019, the Company changed the presentation of its balance sheet to be unclassified in order to be comparable with other REIT peers. The change was applied to all periods presented retrospectively. Gain on Sale of Properties: In November 2018, the SEC finalized the Disclosure Update Simplification Project, which eliminated Rule 3-15(a)(1) reporting of Gain or Loss on Sale of Properties by REITs. To conform with Accounting Standards Codification ("ASC") 360 and the SEC rule change, the Company has classified the gain on dispositions of real estate assets in operating income in the Company's condensed consolidated statements of operations. The Company reclassified the prior period to conform to the current year presentation. This change resulted in an increase of $49.8 million in operating income during the nine months ended September 30, 2018 . Recently adopted accounting pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) ("ASU 2016-02"). The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 and should be implemented using a modified retrospective approach, with the option to apply the guidance at the effective date or the beginning of the earliest comparative period. The Company adopted the guidance on January 1, 2019 and elected to use the effective date as the date of initial application. Consequently, financial information was not updated and the disclosures required under the new standard are not provided for dates and periods before January 1, 2019. Additionally, the Company elected the "package of practical expedients," which permits the Company to not reassess prior conclusions about lease identification, lease classification and initial direct costs. The new guidance did not have a material impact on the accounting treatment of the Company's triple-net tenant leases, which are the primary source of our CRE revenues. However, starting in the current year there were certain changes to the guidance under ASC 842 which will have an impact on future operating results, including initial direct costs associated with the execution of lease agreements such as legal fees and certain transaction costs will no longer be capitalizable and instead are expensed in the period incurred. The Company recorded right-of-use ("ROU") assets and corresponding lease liabilities of approximately $31.0 million on the condensed consolidated balance sheet for certain leases in which it is the lessee. The adoption of ASC 842 had no impact on the Company's lease expense. In August 2017, the FASB issued ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company adopted the guidance on January 1, 2019. 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 requires the earnings effect of the hedging instrument to be presented in the same income statement line as the hedged item. The adoption of this standard did not have an impact on the Company's financial position or results of operations. In June 2018, the FASB issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting . The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company adopted the guidance on January 1, 2019. The guidance expands the scope of ASC 718 to include share-based payment transactions with the exception of specific guidance related to the attribution of compensation cost. The guidance also clarifies that any share-based payment awards granted in conjunction with selling goods or services to customers should be evaluated under ASC 606. The adoption of this standard did not have an impact on the Company's financial position or results of operations. Recently issued accounting pronouncements In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. The guidance replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. This ASU is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2019. The FASB has subsequently issued other related ASUs, which amend ASU 2016-13 to provide clarification and additional guidance. The Company is currently assessing the impact that adopting this new accounting standard will have on its condensed consolidated financial statements and footnote disclosures. In August 2018, the FASB issued ASU 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement . The guidance amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. This ASU also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. This ASU is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company is currently assessing the impact that adopting this new standard will have on its condensed consolidated financial statements and footnote disclosures. In August 2018, the FASB issued ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans . The guidance clarifies current disclosures and removes several disclosure requirements including accumulated other comprehensive income expected to be recognized over the next fiscal year and amount and timing of plan assets expected to be returned to the employer. This ASU also requires additional disclosures as well as explanations for significant gains and losses related to changes in the benefit plan obligation. This ASU is effective for fiscal years beginning after December 15, 2020. The Company is currently assessing the impact that adopting this new standard will have on its condensed consolidated financial statements and footnote disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other: Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract . The guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, the amendments require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments also require the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. This ASU is effective for fiscal years beginning after December 15, 2019 and the amendments can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is currently assessing the impact that adopting this new standard will have on its condensed consolidated financial statements and footnote disclosures. Leases Lessee: The Company determines if an arrangement is a lease at inception by considering whether that arrangement conveys the right to use an identified asset for a period of time in exchange for consideration. Operating leases are included in operating lease ROU assets and operating lease liabilities in the Company's condensed consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company uses the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has also elected, for all classes of underlying assets, to not recognize lease liabilities and lease assets for leases with a term of 12 months or less. Lessor: The Company reviews its contracts to determine if they qualify as a lease. A contract is determined to be a lease when the right to substantially all of the economic benefits and to direct the use of an identified asset is transferred to a customer over a defined period of time for consideration. During this review, the Company evaluates among other items, asset specification, substitution rights, purchase options, operating rights and control over the asset during the contract period. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately under ASC 606, Revenue from Contracts with Customers . The Company has elected to not separate non-lease components from lease components for all classes of underlying assets where the component follows the same timing and pattern as the lease component. Non-lease components included in rental revenue primarily consist of tenant reimbursements for common area maintenance and other services paid for by the lessor and utilized by the lessee. Rental revenue is primarily derived from operating leases and, therefore, is generally recognized on a straight-line basis over the term of the lease. Fixed contractual payments from the Company's leases are recognized on a straight-line basis over the terms of the respective leases. Straight-line rental revenue commences when the customer assumes control of the leased premises. Accrued straight-line rents receivable represents the amount by which straight-line rental revenue exceeds rents currently billed in accordance with lease agreements. Certain of the Company's lease agreements include terms for contingent rental revenue (e.g. percentage rents based on tenant sales volume) and tenant reimbursed property taxes, which are both accounted for as variable payments. Certain of the Company's leases include termination and/or extension options. Termination options allow the customer to terminate the lease prior to the end of the lease term under specific circumstances. The Company's extension options generally require a re-negotiation with the customer at market rates. Initial direct costs, primarily commissions, related to the leasing of properties are capitalized on the balance sheet and amortized over the lease term. All other costs to negotiate or arrange a lease are expensed as incurred. Accounts receivable related to leases are regularly evaluated for collectability, considering factors including, but not limited to, the credit quality of the customer, historical trends of the customer, and changes in customer payment terms. Upon determination that the collectability of a customer receivable is not probable, the Company will record an allowance for such receivable and a corresponding reduction to revenue previously recognized. Subsequent revenue is recorded on a cash basis until collectability on related billings becomes probable. Changes in estimates on construction contracts Revenue on the Company's long-term construction contracts are recognized using the percentage of completion, cost-to-cost, input method. Due to the nature of the work required to be performed, estimating total revenue and cost at completion of the contract is complex, subject to many variables and requires significant judgment. Such estimates of contract revenue and cost are dependent on a number of factors that may change during a contract performance period, resulting in changes to estimated contract profitability. These factors include, but are not limited to, the completeness and accuracy of the original bid; changes in the timing of scheduled work; change orders; unusual weather conditions; changes in costs of labor and/or materials; changes in productivity expectations; and the expected, or actual, resolution terms for claims. Management evaluates changes in estimates on a contract by contract basis and uses the cumulative catch-up method to account for the changes in the period in which they are determined. Interest and other income (expense), net Interest and other income (expense), net for the nine months ended September 30, 2019 was primarily composed of interest income of $2.9 million . Interest and other income (expense), net for the nine months ended September 30, 2018 was primarily composed of a $4.2 million net gain on the sale of the Company's joint venture interest in the Ka Milo real estate development-for-sale project. For the nine months ended September 30, 2019 and 2018 , other expense was primarily composed of pension and postretirement benefit expense of $3.4 million and $2.2 million , respectively. Discontinued operations In December 2016, the Company completed its final sugar harvest and ceased its sugar operations. Costs related to the cessation of sugar operations are presented as discontinued operations in the condensed consolidated statements of operations. Liabilities related to the cessation of sugar operations are presented within Accrued and other liabilities in the condensed consolidated balance sheets. For the nine months ended September 30, 2019 , the Company recorded a loss from discontinued operations of $0.8 million primarily related to an increase in cessation related accruals and a reserve for bad debt against outstanding receivables deemed uncollectible in the first quarter of 2019.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
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 included standby letters of credit and bonds. As of September 30, 2019 , standby letters of credit issued by the Company's lenders under the Company's revolving credit facilities totaled $1.7 million . These letters of credit primarily relate to the Company's real estate activities, and if drawn upon the Company would be obligated to reimburse the issuer. As of September 30, 2019 , bonds related to the Company's construction and real estate activities totaled $440.8 million . Approximately $421.7 million represents the face value of 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 for the amount of the bond, reduced for the work completed to date. As of September 30, 2019 , the Company's estimated remaining exposure, assuming defaults on all existing contractual construction obligations, was approximately $79.8 million . 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 September 30, 2019 , the Company's limited guarantees on indebtedness related to one of its unconsolidated joint ventures totaled $3.1 million . Other than obligations described above and those described in the Company's 2018 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: Prior to the sale of approximately 41,000 acres of agricultural land on Maui to Mahi Pono Holdings, LLC ("Mahi Pono") in December 2018, A&B, through East Maui Irrigation Company, LLC ("EMI"), also owned approximately 16,000 acres of watershed lands in East Maui and also held four water licenses to approximately 30,000 acres owned by the State of Hawai‘i in East Maui. The sale to Mahi Pono includes the sale of a 50% interest in EMI (which closed February 1, 2019), and provides for A&B and Mahi Pono, through EMI, to jointly continue the existing process to secure long-term leases from the State for delivery of irrigation water to Mahi Pono for use in Central 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 completion by the BLNR of a contested case hearing it ordered to be held 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 asked 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 was 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 decision was appealed to the Intermediate Court of Appeals ("ICA") of the State of Hawai‘i. In May 2016, while the appeal of the 4/10/15 Lawsuit was pending, 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, November 2017 and November 2018 for calendar years 2017, 2018 and 2019. No extension of Act 126 was approved by the Hawai‘i State Legislature in 2019. In June 2019, the ICA vacated the lower court’s ruling in the 4/10/15 Lawsuit that the BLNR lacked authority to keep the revocable permits in holdover status beyond one year and remanded the case to the trial court to determine whether the holdover status of the permits was both (a) "temporary" and (b) in the best interest of the State, as required by statute. The plaintiffs have filed a motion with the ICA for reconsideration of its decision, which was denied on July 5, 2019. On September 30, 2019, Plaintiffs filed a request with the Supreme Court of Hawai‘i to review and reverse the ICA’s ruling. On October 11, 2019, the BLNR took up the renewal of all the existing water revocable permits in the state, acting under the ICA's ruling, and approved the continuation of the four East Maui water revocable permits for another one-year period through December 31, 2020. In a separate matter, on December 7, 2018, a contested case request filed by the Sierra Club contesting the BLNR's November 2018 approval of the 2019 revocable permits was denied by the BLNR. On January 7, 2019, Sierra Club filed a lawsuit in the circuit court of the first circuit in Hawai‘i against BLNR, A&B, and EMI, seeking to invalidate the extension of the revocable permits for, among other things, failure to perform an EA. The count alleging failure to perform an EA was recently ordered to be dismissed based on the ICA ruling in the 4/10/15 Lawsuit. The lawsuit also seeks to enjoin the diversion by EMI of more than 25 million gallons a day pending the imposition by BLNR of conditions that Sierra Club alleges should be imposed on the revocable permits. In connection with A&B’s obligation to continue the existing process to secure long-term water leases from the State, A&B and EMI will defend against the claims made by the Sierra Club. 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”)	9 Months Ended
	Sep. 30, 2019
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 (loss) from continuing operations to income (loss) from continuing operations available to A&B shareholders and net income (loss) available to A&B shareholders (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income (loss) from Continuing Operations $ (50.8 ) $ 15.8 $ (42.6 ) $ 66.2 Less: (Income) loss attributable to noncontrolling interest 1.1 (0.8 ) 1.8 (1.4 ) Income (loss) from continuing operations attributable to A&B shareholders (49.7 ) 15.0 (40.8 ) 64.8 Income (loss) from discontinued operations available to A&B shareholders, net of income taxes (0.1 ) (0.2 ) (0.8 ) (0.2 ) Net income (loss) available to A&B shareholders $ (49.8 ) $ 14.8 $ (41.6 ) $ 64.6 The number of shares used to compute basic and diluted earnings per share is as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Denominator for basic EPS - weighted average shares outstanding 72.3 72.0 72.2 70.2 Effect of dilutive securities: Non-participating stock options and restricted stock unit awards — 0.4 — 0.4 Special Distribution — — — 1.8 Denominator for diluted EPS - weighted average shares outstanding 72.3 72.4 72.2 72.4 There were 0.4 million shares of anti-dilutive securities outstanding during the three and nine months ended September 30, 2019 . There were 0.1 million shares of anti-dilutive securities outstanding during the three and nine months ended September 30, 2018 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of the Company's cash and cash equivalents, accounts receivable, and notes receivable with remaining terms less than 12 months approximate their carrying values due to the short-term nature of the instruments. The fair value of the Company's notes receivable with remaining terms greater than 12 months is estimated using a discounted cash flow analysis in which the Company uses unobservable inputs such as market interest rates determined by the loan to value and market capitalization rates related to the underlying collateral at which management believes similar loans would be made and classified as Level 3 in the fair value hierarchy. The fair value of these notes approximates the carrying amount of $15.7 million at September 30, 2019 . The fair value and carrying value of these notes was $16.3 million at December 31, 2018 . The carrying amount and fair value of the Company's debt at September 30, 2019 was $732.4 million and $753.8 million , respectively, and $778.1 million and $758.0 million at December 31, 2018 , 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). The Company carries its interest rate swaps at fair value. See Note 15 for fair value information regarding the Company's derivative instruments.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are stated at the lower of cost (principally first-in, first-out basis) or net realizable value. Inventories as of September 30, 2019 and December 31, 2018 were as follows (in millions): September 30, 2019 December 31, 2018 Asphalt $ 9.7 $ 9.4 Processed rock and sand 7.5 9.5 Work in progress 3.2 4.0 Retail merchandise 2.1 2.0 Parts, materials and supplies inventories 1.4 1.6 Total $ 23.9 $ 26.5

Share-Based Payment Awards

Share-Based Payment Awards	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Payment Awards	SHARE-BASED PAYMENT AWARDS The 2012 Incentive Compensation Plan ("2012 Plan") allows for the granting of stock options, restricted stock units and common stock. The shares of common stock authorized to be issued under the 2012 Plan may be drawn from the shares of the Company's authorized but unissued common stock or from shares of its common stock that the Company acquires, including shares purchased on the open market or private transactions. The following table summarizes the Company's stock option activity for the nine months ended September 30, 2019 (in thousands, except weighted-average exercise price and weighted-average contractual life): 2012 Plan Weighted- Weighted- Aggregate Outstanding, January 1, 2019 580.1 $ 12.91 Exercised (225.8) $ 11.29 Canceled (2.0) $ 13.11 Outstanding, September 30, 2019 352.3 $ 13.95 1.8 years $ 3,756 Vested or expected to vest 352.3 $ 13.95 1.8 years $ 3,756 Exercisable, September 30, 2019 352.3 $ 13.95 1.8 years $ 3,756 The following table summarizes non-vested restricted stock unit activity for the nine months ended September 30, 2019 (in thousands, except weighted-average grant-date fair value amounts): 2012 Plan Weighted- Outstanding, January 1, 2019 421.3 $ 25.91 Granted 264.0 $ 20.05 Vested (149.5 ) $ 23.72 Canceled (78.8 ) $ 22.07 Outstanding, September 30, 2019 457.0 $ 23.90 The time-based restricted stock units granted to employees vest ratably over a period of three years . The time-based restricted stock units granted to non-employee directors prior to 2018 vest ratably over a period of three years , and commencing in 2018, the time-based restricted stock units granted to non-employee directors vest over one year . The market-based performance share units cliff vest over three 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: 2019 Grants 2018 Grants Volatility of A&B common stock 23.8 % 22.7 % Average volatility of peer companies 23.8 % 21.6 % Risk-free interest rate 1.8 % 2.3 % The Company recognizes compensation cost net of actual forfeitures of time-based or market-based awards. A summary of compensation cost related to share-based payments is as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Share-based expense: Time-based and market-based restricted stock units $ 1.4 $ 1.3 $ 4.1 $ 4.0 Total recognized tax benefit — (0.1 ) — (0.4 ) Share-based expense (net of tax) $ 1.4 $ 1.2 $ 4.1 $ 3.6

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
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 $2.8 million and $4.5 million for the three months ended September 30, 2019 and 2018 , respectively. Revenues earned from transactions with affiliates were $9.6 million and $10.8 million for the nine months ended September 30, 2019 and 2018 , respectively. Receivables from these affiliates were $1.5 million and $2.2 million as of September 30, 2019 and December 31, 2018 , respectively. Amounts due to these affiliates were $0.7 million and $0.6 million as of September 30, 2019 and December 31, 2018 . Commercial Real Estate. The Company entered into contracts in the ordinary course of business, as a lessor of property, with certain affiliates that are partially owned by a former director of the Company. There was no recorded revenue earned from transactions with affiliates for the three months ended September 30, 2019 . For the three months ended September 30, 2018, revenues earned from transactions with affiliates were $1.2 million . Revenues earned from transactions with affiliates were $1.3 million and $3.5 million for the nine months ended September 30, 2019 and 2018 , respectively. There were no receivables from these affiliates as of September 30, 2019 and less than $0.1 million as of December 31, 2018 . Land Operations. During the three months ended September 30, 2019 and 2018 , the Company recognized $1.1 million and less than $0.1 million , respectively, related to revenue for services provided to certain unconsolidated investments in affiliates and interest earned on notes receivables from related parties. Service revenues and interest recorded during the nine months ended September 30, 2019 and 2018 were $1.7 million and $0.1 million , respectively. Receivables from these affiliates were less than $0.1 million as of September 30, 2019 and December 31, 2018 . During the year ended December 31, 2017, the Company extended a five -year construction loan secured by a mortgage on real property to one of its joint ventures. Receivables from this affiliate were $13.1 million and $13.5 million as of September 30, 2019 and December 31, 2018 , respectively.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS Components of the net periodic benefit cost for the Company's pension and post-retirement plans for the three and nine months ended September 30, 2019 and 2018 are shown below (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Service cost $ 0.7 $ 0.5 $ 1.8 $ 1.6 Interest cost 2.1 2.0 6.3 6.0 Expected return on plan assets (1.8 ) (2.1 ) (5.4 ) (6.2 ) Amortization of net loss 0.9 1.1 2.9 3.3 Amortization of prior service credit (0.1 ) (0.2 ) (0.4 ) (0.5 ) Curtailment (gain)/loss — — — (0.4 ) Net periodic benefit cost $ 1.8 $ 1.3 $ 5.2 $ 3.8

Real Estate Asset Acquisitions

Real Estate Asset Acquisitions	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Real Estate Asset Acquisitions	REAL ESTATE ASSET ACQUISITIONS During the nine months ended September 30, 2019 , the Company acquired five commercial real estate assets for $218.4 million . 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 $ 106.9 Property and improvements 91.3 In-place leases 23.2 Favorable leases 4.3 Total assets acquired $ 225.7 Liabilities assumed: Unfavorable leases $ 7.3 Total liabilities assumed 7.3 Net assets acquired $ 218.4 As of the acquisition date, the weighted-average amortization periods of the in-place and favorable leases were approximately 8.2 years and 4.7 years , respectively. The weighted-average amortization period of the unfavorable leases was approximately 18.6 years .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2019 were as follows (in millions): Employee Interest Rate Swap Total Balance, January 1, 2019 $ (55.2 ) $ 3.3 $ (51.9 ) Other comprehensive income (loss) before reclassifications, net of taxes of $0 for interest rate swap — (5.5 ) (5.5 ) Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0 for employee benefit plans 2.5 — 2.5 Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0 for interest rate swap — (0.1 ) (0.1 ) Balance, September 30, 2019 $ (52.7 ) $ (2.3 ) $ (55.0 ) The details of the changes in accumulated other comprehensive income (loss), including reclassifications out of accumulated other comprehensive income (loss), by component for the three and nine months ended September 30, 2019 and 2018 , respectively, were as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Unrealized interest rate hedging gain (loss) $ (2.0 ) $ 0.6 $ (5.5 ) $ 3.0 Impact of reclassification adjustment to interest expense included in Net Income (Loss) 0.2 — (0.1 ) — Amortization of defined benefit pension items reclassified to net periodic pension cost: Actuarial loss 1 0.9 1.1 2.9 3.3 Prior service credit 1 (0.1 ) (0.2 ) (0.4 ) (0.5 ) Curtailment (gain)/loss 1 — — — (0.4 ) Total before income tax (1.0 ) 1.5 (3.1 ) 5.4 Income taxes — (0.4 ) — (1.4 ) Other comprehensive income (loss), net of tax $ (1.0 ) $ 1.1 $ (3.1 ) $ 4.0 1 This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost (see Note 9 for additional details).

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company has been organized and operates in a manner that enables it to qualify, and believes it will continue to qualify, as a REIT for federal income tax purposes. The Company’s effective tax rate for the three and nine months ended September 30, 2019 differed from the effective tax rate for the same periods in 2018, primarily due to the full valuation allowance recorded on the net deferred tax assets at the end of 2018.

Notes Payable and Total Debt

Notes Payable and Total Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Notes Payable and Total Debt	NOTES PAYABLE AND TOTAL DEBT At September 30, 2019 and December 31, 2018 , notes payable and total debt consisted of the following (in millions): Principal Outstanding Debt Interest Rate Maturity September 30, 2019 December 31, 2018 Secured: Kailua Town Center (1) 2021 $ 10.3 $ 10.5 Kailua Town Center #2 3.15% 2021 4.7 4.7 Heavy equipment financing (2) 2023 2.0 — Laulani Village 3.93% 2024 62.0 62.0 Pearl Highlands 4.15% 2024 84.0 85.3 Manoa Marketplace (3) 2029 59.8 60.0 Subtotal $ 222.8 $ 222.5 Unsecured: Term Loan 3 5.19% 2019 0.7 2.3 Term Loan 4 (4) 2019 — 9.4 Series D Note 6.90% 2020 16.2 32.5 Bank syndicated loan (5) 2023 50.0 50.0 Series A Note 5.53% 2024 28.5 28.5 Series J Note 4.66% 2025 10.0 10.0 Series B Note 5.55% 2026 46.0 46.0 Series C Note 5.56% 2026 23.0 24.0 Series F Note 4.35% 2026 22.0 22.0 Series H Note 4.04% 2026 50.0 50.0 Series K Note 4.81% 2027 34.5 34.5 Series G Note 3.88% 2027 42.5 42.5 Series L Note 4.89% 2028 18.0 18.0 Series I Note 4.16% 2028 25.0 25.0 Term Loan 5 4.30% 2029 25.0 25.0 Subtotal $ 391.4 $ 419.7 Revolving Credit Facilities: GLP Asphalt revolving credit facility (6) 2020 0.5 0.4 Revolving credit facility (7) 2022 118.4 136.6 Subtotal $ 118.9 $ 137.0 Total debt (contractual) $ 733.1 $ 779.2 Unamortized debt premium (discount) (0.1 ) (0.2 ) Unamortized debt issuance costs (0.6 ) (0.9 ) Total debt (carrying value) $ 732.4 $ 778.1 (1) Loan has a stated interest rate of LIBOR plus 1.50%, but is swapped through maturity to a 5.95% fixed rate. (2) Loans have a stated rate ranging from 4.08% to 5.00% (3) Loan has a stated interest rate of LIBOR plus 1.35%, but is swapped through maturity to a 3.14% fixed rate. (4) Loan has a stated interest rate of LIBOR plus 2.00%, and is secured by a letter of credit. (5) Loan has a stated interest rate of LIBOR plus 1.60%, based on pricing grid. (6) Loan has a stated interest rate of LIBOR plus 1.25%. (7) Loan has a stated interest rate of LIBOR plus 1.65%, based on pricing grid. The Company believes that funds generated from results of operations, available cash and cash equivalents, and available borrowings under credit facilities will be sufficient to satisfy any maturities of debt due in the next twelve months. Interest costs are capitalized for certain development and redevelopment projects that have not yet been placed into service. Capitalization of interest commences when development activities and expenditures begin and end upon completion, which is when the asset is ready for its intended use. Capitalized interest costs related to development activities were $0.8 million for the nine months ended September 30, 2019 . There were $0.4 million of capitalized interest costs for the nine months ended September 30, 2018 .

Investments in Affiliates

Investments in Affiliates	9 Months Ended
	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Investments in Affiliates	INVESTMENTS IN AFFILIATES The Company's investments in affiliates principally consist 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 (loss) from its equity method investments. Summarized financial information of entities accounted for by the equity method on a combined basis for the three and nine months ended September 30, 2019 and 2018 is as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Revenues $ 44.7 $ 78.0 $ 143.1 $ 202.6 Operating costs and expenses 35.6 64.8 127.6 172.5 Gross Profit (Loss) $ 9.1 $ 13.2 $ 15.5 $ 30.1 Income (Loss) from Continuing Operations 1 $ 5.5 $ 9.9 $ 6.6 $ 14.3 Net Income (Loss) 1 $ 5.4 $ 9.8 $ 6.4 $ 14.0 1 Includes earnings from equity method investments held by the investee.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS The Company is exposed to interest rate risk related to its variable rate interest debt. The Company balances its cost of debt and exposure to interest rates primarily through its mix of fixed and variable 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 As of September 30, 2019 , the Company has one interest rate swap agreement designated as a cash flow hedge whose key terms are as follows (dollars in millions): Effective Maturity Fixed Interest Notional Amount at Fair Value at Date Date Rate September 30, 2019 September 30, 2019 December 31, 2018 4/7/2016 8/1/2029 3.14% $ 60.0 $ (1.7 ) $ 3.9 The liability related to the interest rate swap as of September 30, 2019 is presented within Accrued and other liabilities in the condensed consolidated balance sheet. The asset related to the interest swap at December 31, 2018 was presented within Prepaid expenses and other assets. The changes in fair value of the cash flow hedge are recorded in accumulated other comprehensive income (loss) and subsequently reclassified into interest expense as interest is incurred on the related-variable rate debt. Non-designated Hedges As of September 30, 2019 , the Company has one interest rate swap that has not been designated as a cash flow hedge whose key terms are as follows (dollars in millions): Effective Maturity Fixed Interest Notional Amount at Fair Value at Classification on Date Date Rate September 30, 2019 September 30, 2019 December 31, 2018 Balance Sheet 1/1/2014 9/1/2021 5.95% $ 10.3 $ (0.6 ) $ (0.5 ) Accrued and other liabilities 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Derivatives in Designated Cash Flow Hedging Relationships: Amount of gain (loss) recognized in OCI on derivatives $ (2.0 ) $ 0.6 $ (5.5 ) $ 3.0 Impact of reclassification adjustment to interest expense included in Net Income (Loss) $ 0.2 $ — $ (0.1 ) $ — The Company records gains or losses related to interest rate swaps that have not been designated as cash flow hedges in Interest and other income in its condensed consolidated statements of operations, and the amounts were immaterial during the three and nine months ended September 30, 2019 and 2018 . 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.

Segment Results

Segment Results	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Results	SEGMENT RESULTS Operating segment information for the three and nine months ended September 30, 2019 and 2018 is summarized below (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Operating Revenue: Commercial Real Estate $ 42.7 $ 35.9 $ 118.6 $ 104.9 Land Operations 8.5 24.0 82.4 72.6 Materials & Construction 37.9 59.5 126.6 167.3 Total operating revenue 89.1 119.4 327.6 344.8 Operating Profit (Loss): Commercial Real Estate 1 18.0 15.9 50.6 45.0 Land Operations 2 2.8 13.1 15.9 9.3 Materials & Construction (57.9 ) 3.4 (66.7 ) 7.2 Total operating profit (loss) (37.1 ) 32.4 (0.2 ) 61.5 Gain (loss) on the sale of commercial real estate properties — — — 49.8 Interest expense (8.2 ) (9.1 ) (25.4 ) (26.4 ) General corporate expenses (5.5 ) (6.5 ) (18.1 ) (20.5 ) Income (Loss) from Continuing Operations Before Income Taxes $ (50.8 ) $ 16.8 $ (43.7 ) $ 64.4 1 Commercial Real Estate segment operating profit (loss) includes intersegment operating revenue, primarily from the Materials & Construction segment, and is eliminated in the condensed consolidated results of operations. 2 Land Operations segment operating profit (loss) includes equity in earnings (losses) from the Company's various real estate joint ventures and non-cash reductions related to the Company's solar tax equity investments. Segment balance sheet information as of September 30, 2019 and December 31, 2018 is summarized below (in millions): September 30, 2019 December 31, 2018 Identifiable Assets: Commercial Real Estate $ 1,539.2 $ 1,530.4 Land Operations 300.9 350.0 Materials & Construction 259.0 297.1 Other 22.6 47.7 Total assets $ 2,121.7 $ 2,225.2

Revenue and Contract Balances

Revenue and Contract Balances	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue and Contract Balances	REVENUE AND CONTRACT BALANCES 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Revenues: Commercial Real Estate $ 42.7 $ 35.9 $ 118.6 $ 104.9 Land Operations: Development sales revenue 0.8 9.0 31.2 42.8 Unimproved/other property sales revenue 1.5 9.1 32.4 11.5 Other operating revenue 6.2 5.9 18.8 18.3 Land Operations 8.5 24.0 82.4 72.6 Materials & Construction 37.9 59.5 126.6 167.3 Total revenues $ 89.1 $ 119.4 $ 327.6 $ 344.8 The total amount of contract consideration allocated to either wholly unsatisfied or partially satisfied performance obligations was $86.6 million as of September 30, 2019 . The Company expects to recognize as revenue approximately 30% - 35% of the remaining contract consideration allocated to either wholly unsatisfied or partially satisfied performance obligations in 2019, with the remaining recognized thereafter. Certain construction contracts include retainage provisions that are included in Accounts receivable and retention, net in the condensed consolidated balance sheets. 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. 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. Costs and estimated earnings in excess of billings are presented within Prepaid expenses and other assets in the condensed consolidated balance sheets. 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. Billings in excess of costs and estimated earnings are presented within Accrued and other liabilities in the condensed consolidated balance sheets. The following table provides information about receivables, contract assets and contract liabilities from contracts with customers: (in millions) September 30, 2019 January 1, 2019 Accounts receivable, net $ 58.2 $ 49.6 Contracts retention $ 9.6 $ 11.6 Costs and estimated earnings in excess of billings on uncompleted contracts $ 9.5 $ 9.2 Billings in excess of costs and estimated earnings on uncompleted contracts $ 9.7 $ 5.9 Variable consideration $ 62.0 $ 62.0 Deferred revenue $ 6.4 $ 1.2 For the nine months ended September 30, 2019 , the Company recognized revenue of $4.6 million related to the Company's contract liabilities reported as of January 1, 2019 .

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	LEASES The Company as Lessee: Principal non-cancelable operating leases include land, office space, harbors and equipment leased for periods that expire through 2031 . Management expects that in the normal course of business, most operating leases will be renewed or replaced by other similar leases. The Company has equipment under finance leases with periods that expire through 2023 . ROU assets and lease liabilities related to these finance leases are presented within Other property, net and Notes payable and other debt , respectively, in the condensed consolidated balance sheets. Lease expense for operating leases that provide for future escalations are accounted for on a straight-line basis. For the three and nine months ended September 30, 2019 , lease expense under operating and finance leases was as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 Operating lease cost $ 1.9 $ 5.2 Finance lease cost: Amortization of right-of-use assets 0.2 0.4 Interest on lease liabilities 0.1 0.1 Total lease cost $ 2.2 $ 5.7 Supplemental balance sheet information related to operating and finance leases as of September 30, 2019 was as follows: Weighted-average remaining lease term (years) - operating leases 9.3 Weighted-average remaining lease term (years) - finance leases 2.7 Weighted-average discount rate - operating leases 4.4 % Weighted-average discount rate - finance leases 4.5 % Supplemental cash flow information related to operating and finance leases for the nine months ended September 30, 2019 was as follows (in millions): Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 4.4 Operating cash outflows from financing leases $ 0.1 Financing cash flows from finance leases $ 0.4 Future lease payments under non-cancelable operating and finance leases as of September 30, 2019 were as follows (in millions): September 30, 2019 Operating Leases Finance Leases 2019 $ 1.3 $ 0.2 2020 5.2 0.8 2021 5.1 0.7 2022 5.0 0.3 2023 3.9 0.1 2024 2.2 — Thereafter 8.4 — Total lease payments $ 31.1 $ 2.1 Less: Interest (8.1 ) (0.1 ) Total lease liabilities $ 23.0 $ 2.0 Future lease payments under non-cancelable operating leases as of December 31, 2018 were as follows (in millions): December 31, 2018 2019 $ 5.5 2020 5.4 2021 5.3 2022 5.3 2023 4.5 Thereafter 13.9 $ 39.9 The Company as Lessor: The Company leases land and buildings to third parties under operating leases. The historical cost of, and accumulated depreciation on, leased property as of September 30, 2019 and December 31, 2018 were as follows (in millions): September 30, 2019 December 31, 2018 Leased property - real estate $ 1,501.2 $ 1,263.0 Less: Accumulated depreciation (115.2 ) (104.4 ) Property under operating leases, net $ 1,386.0 $ 1,158.6 Total rental income under these operating leases were as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 Lease payments $ 54.0 $ 80.4 Variable lease payments 2.5 3.6 Total $ 56.5 $ 84.0 Future lease payments to be received on non-cancelable operating leases as of September 30, 2019 were as follows (in millions): September 30, 2019 2019 $ 32.3 2020 115.0 2021 102.1 2022 90.0 2023 79.9 2024 68.0 Thereafter 485.6 Total lease receivables $ 972.9 Future lease payments to be received on non-cancelable operating leases as of December 31, 2018 were as follows (in millions): December 31, 2018 2019 $ 97.6 2020 96.2 2021 78.2 2022 69.3 2023 59.9 Thereafter 407.8 $ 809.0 The Company's leases have remaining lease terms of 1 year to 45 years , some of which include options to extend the leases for up to 10 years , and some of which include options to terminate the leases within 1 year .
Leases	LEASES The Company as Lessee: Principal non-cancelable operating leases include land, office space, harbors and equipment leased for periods that expire through 2031 . Management expects that in the normal course of business, most operating leases will be renewed or replaced by other similar leases. The Company has equipment under finance leases with periods that expire through 2023 . ROU assets and lease liabilities related to these finance leases are presented within Other property, net and Notes payable and other debt , respectively, in the condensed consolidated balance sheets. Lease expense for operating leases that provide for future escalations are accounted for on a straight-line basis. For the three and nine months ended September 30, 2019 , lease expense under operating and finance leases was as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 Operating lease cost $ 1.9 $ 5.2 Finance lease cost: Amortization of right-of-use assets 0.2 0.4 Interest on lease liabilities 0.1 0.1 Total lease cost $ 2.2 $ 5.7 Supplemental balance sheet information related to operating and finance leases as of September 30, 2019 was as follows: Weighted-average remaining lease term (years) - operating leases 9.3 Weighted-average remaining lease term (years) - finance leases 2.7 Weighted-average discount rate - operating leases 4.4 % Weighted-average discount rate - finance leases 4.5 % Supplemental cash flow information related to operating and finance leases for the nine months ended September 30, 2019 was as follows (in millions): Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 4.4 Operating cash outflows from financing leases $ 0.1 Financing cash flows from finance leases $ 0.4 Future lease payments under non-cancelable operating and finance leases as of September 30, 2019 were as follows (in millions): September 30, 2019 Operating Leases Finance Leases 2019 $ 1.3 $ 0.2 2020 5.2 0.8 2021 5.1 0.7 2022 5.0 0.3 2023 3.9 0.1 2024 2.2 — Thereafter 8.4 — Total lease payments $ 31.1 $ 2.1 Less: Interest (8.1 ) (0.1 ) Total lease liabilities $ 23.0 $ 2.0 Future lease payments under non-cancelable operating leases as of December 31, 2018 were as follows (in millions): December 31, 2018 2019 $ 5.5 2020 5.4 2021 5.3 2022 5.3 2023 4.5 Thereafter 13.9 $ 39.9 The Company as Lessor: The Company leases land and buildings to third parties under operating leases. The historical cost of, and accumulated depreciation on, leased property as of September 30, 2019 and December 31, 2018 were as follows (in millions): September 30, 2019 December 31, 2018 Leased property - real estate $ 1,501.2 $ 1,263.0 Less: Accumulated depreciation (115.2 ) (104.4 ) Property under operating leases, net $ 1,386.0 $ 1,158.6 Total rental income under these operating leases were as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 Lease payments $ 54.0 $ 80.4 Variable lease payments 2.5 3.6 Total $ 56.5 $ 84.0 Future lease payments to be received on non-cancelable operating leases as of September 30, 2019 were as follows (in millions): September 30, 2019 2019 $ 32.3 2020 115.0 2021 102.1 2022 90.0 2023 79.9 2024 68.0 Thereafter 485.6 Total lease receivables $ 972.9 Future lease payments to be received on non-cancelable operating leases as of December 31, 2018 were as follows (in millions): December 31, 2018 2019 $ 97.6 2020 96.2 2021 78.2 2022 69.3 2023 59.9 Thereafter 407.8 $ 809.0 The Company's leases have remaining lease terms of 1 year to 45 years , some of which include options to extend the leases for up to 10 years , and some of which include options to terminate the leases within 1 year .
Leases	LEASES The Company as Lessee: Principal non-cancelable operating leases include land, office space, harbors and equipment leased for periods that expire through 2031 . Management expects that in the normal course of business, most operating leases will be renewed or replaced by other similar leases. The Company has equipment under finance leases with periods that expire through 2023 . ROU assets and lease liabilities related to these finance leases are presented within Other property, net and Notes payable and other debt , respectively, in the condensed consolidated balance sheets. Lease expense for operating leases that provide for future escalations are accounted for on a straight-line basis. For the three and nine months ended September 30, 2019 , lease expense under operating and finance leases was as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 Operating lease cost $ 1.9 $ 5.2 Finance lease cost: Amortization of right-of-use assets 0.2 0.4 Interest on lease liabilities 0.1 0.1 Total lease cost $ 2.2 $ 5.7 Supplemental balance sheet information related to operating and finance leases as of September 30, 2019 was as follows: Weighted-average remaining lease term (years) - operating leases 9.3 Weighted-average remaining lease term (years) - finance leases 2.7 Weighted-average discount rate - operating leases 4.4 % Weighted-average discount rate - finance leases 4.5 % Supplemental cash flow information related to operating and finance leases for the nine months ended September 30, 2019 was as follows (in millions): Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 4.4 Operating cash outflows from financing leases $ 0.1 Financing cash flows from finance leases $ 0.4 Future lease payments under non-cancelable operating and finance leases as of September 30, 2019 were as follows (in millions): September 30, 2019 Operating Leases Finance Leases 2019 $ 1.3 $ 0.2 2020 5.2 0.8 2021 5.1 0.7 2022 5.0 0.3 2023 3.9 0.1 2024 2.2 — Thereafter 8.4 — Total lease payments $ 31.1 $ 2.1 Less: Interest (8.1 ) (0.1 ) Total lease liabilities $ 23.0 $ 2.0 Future lease payments under non-cancelable operating leases as of December 31, 2018 were as follows (in millions): December 31, 2018 2019 $ 5.5 2020 5.4 2021 5.3 2022 5.3 2023 4.5 Thereafter 13.9 $ 39.9 The Company as Lessor: The Company leases land and buildings to third parties under operating leases. The historical cost of, and accumulated depreciation on, leased property as of September 30, 2019 and December 31, 2018 were as follows (in millions): September 30, 2019 December 31, 2018 Leased property - real estate $ 1,501.2 $ 1,263.0 Less: Accumulated depreciation (115.2 ) (104.4 ) Property under operating leases, net $ 1,386.0 $ 1,158.6 Total rental income under these operating leases were as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 Lease payments $ 54.0 $ 80.4 Variable lease payments 2.5 3.6 Total $ 56.5 $ 84.0 Future lease payments to be received on non-cancelable operating leases as of September 30, 2019 were as follows (in millions): September 30, 2019 2019 $ 32.3 2020 115.0 2021 102.1 2022 90.0 2023 79.9 2024 68.0 Thereafter 485.6 Total lease receivables $ 972.9 Future lease payments to be received on non-cancelable operating leases as of December 31, 2018 were as follows (in millions): December 31, 2018 2019 $ 97.6 2020 96.2 2021 78.2 2022 69.3 2023 59.9 Thereafter 407.8 $ 809.0 The Company's leases have remaining lease terms of 1 year to 45 years , some of which include options to extend the leases for up to 10 years , and some of which include options to terminate the leases within 1 year .

Goodwill Impairment

Goodwill Impairment	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Impairment	GOODWILL IMPAIRMENT The Company's goodwill balance as of December 31, 2018 and September 30, 2019 was $65.1 million and $15.4 million , respectively, and is attributable to the M&C and CRE segments. The goodwill related to the M&C segment was assigned to three reporting units: GPC (primarily consisting of the Grace Pacific’s quarry, paving, and liquid asphalt operations), GPRS (primarily consisting of Grace Pacific’s roadway and maintenance solutions operations) and GPRM (primarily consisting of Grace Pacific’s prestressed and precast concrete operations). During the quarter ended September 30, 2019 , the Company was required to perform an interim impairment test for the goodwill in each of its three M&C reporting units due to the continued decline in M&C sales and margins in 2019, which resulted from continued, adverse market conditions. The Company's goodwill and impairment test estimated the fair value of the M&C reporting units using various methodologies, including a market approach that involves the application of market-derived multiples and an income approach that was based on a discounted cash flow analysis. The Company classified these fair value measurements as Level 3. Under the market multiple methodology, the estimate of fair value is based on market multiples of EBITDA (earnings before interest, taxes, depreciation and amortization) or revenues. The discounted cash flow approach relies on a number of assumptions, including future macroeconomic conditions, market factors specific to the reporting unit, the amount and timing of estimated future cash flows to be generated by the business over an extended period of time, and a discount rate that considers the risks related to the amount and timing of the cash flows, among others. The weighted average discount rate used in the discounted cash flow approach of the valuation was 12.7% . Changes in the carrying amount of goodwill allocated to the Company's reportable segments for the nine months ended September 30, 2019 consisted of the following (in millions): Materials & Construction Commercial Real Estate Total Balance, January 1, 2019 $ 56.4 $ 8.7 $ 65.1 Goodwill Impairment (49.7 ) — (49.7 ) Balance, September 30, 2019 $ 6.7 $ 8.7 $ 15.4

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On October 22, 2019, the Company's Board of Directors declared a cash dividend of $0.19 per share of outstanding common stock, payable on December 5, 2019 to shareholders of record as of the close of business on November 12, 2019.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
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.
Reclassifications	Unclassified Balance Sheet: During the first quarter of 2019, the Company changed the presentation of its balance sheet to be unclassified in order to be comparable with other REIT peers. The change was applied to all periods presented retrospectively. Gain on Sale of Properties: In November 2018, the SEC finalized the Disclosure Update Simplification Project, which eliminated Rule 3-15(a)(1) reporting of Gain or Loss on Sale of Properties by REITs. To conform with Accounting Standards Codification ("ASC") 360 and the SEC rule change, the Company has classified the gain on dispositions of real estate assets in operating income in the Company's condensed consolidated statements of operations. The Company reclassified the prior period to conform to the current year presentation. This change resulted in an increase of $49.8 million in operating income during the nine months ended September 30, 2018 .
Recently adopted accounting pronouncements/Recently issued accounts pronouncements	Recently adopted accounting pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) ("ASU 2016-02"). The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 and should be implemented using a modified retrospective approach, with the option to apply the guidance at the effective date or the beginning of the earliest comparative period. The Company adopted the guidance on January 1, 2019 and elected to use the effective date as the date of initial application. Consequently, financial information was not updated and the disclosures required under the new standard are not provided for dates and periods before January 1, 2019. Additionally, the Company elected the "package of practical expedients," which permits the Company to not reassess prior conclusions about lease identification, lease classification and initial direct costs. The new guidance did not have a material impact on the accounting treatment of the Company's triple-net tenant leases, which are the primary source of our CRE revenues. However, starting in the current year there were certain changes to the guidance under ASC 842 which will have an impact on future operating results, including initial direct costs associated with the execution of lease agreements such as legal fees and certain transaction costs will no longer be capitalizable and instead are expensed in the period incurred. The Company recorded right-of-use ("ROU") assets and corresponding lease liabilities of approximately $31.0 million on the condensed consolidated balance sheet for certain leases in which it is the lessee. The adoption of ASC 842 had no impact on the Company's lease expense. In August 2017, the FASB issued ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company adopted the guidance on January 1, 2019. 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 requires the earnings effect of the hedging instrument to be presented in the same income statement line as the hedged item. The adoption of this standard did not have an impact on the Company's financial position or results of operations. In June 2018, the FASB issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting . The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company adopted the guidance on January 1, 2019. The guidance expands the scope of ASC 718 to include share-based payment transactions with the exception of specific guidance related to the attribution of compensation cost. The guidance also clarifies that any share-based payment awards granted in conjunction with selling goods or services to customers should be evaluated under ASC 606. The adoption of this standard did not have an impact on the Company's financial position or results of operations. Recently issued accounting pronouncements In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. The guidance replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. This ASU is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2019. The FASB has subsequently issued other related ASUs, which amend ASU 2016-13 to provide clarification and additional guidance. The Company is currently assessing the impact that adopting this new accounting standard will have on its condensed consolidated financial statements and footnote disclosures. In August 2018, the FASB issued ASU 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement . The guidance amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. This ASU also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. This ASU is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company is currently assessing the impact that adopting this new standard will have on its condensed consolidated financial statements and footnote disclosures. In August 2018, the FASB issued ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans . The guidance clarifies current disclosures and removes several disclosure requirements including accumulated other comprehensive income expected to be recognized over the next fiscal year and amount and timing of plan assets expected to be returned to the employer. This ASU also requires additional disclosures as well as explanations for significant gains and losses related to changes in the benefit plan obligation. This ASU is effective for fiscal years beginning after December 15, 2020. The Company is currently assessing the impact that adopting this new standard will have on its condensed consolidated financial statements and footnote disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other: Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract . The guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, the amendments require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments also require the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. This ASU is effective for fiscal years beginning after December 15, 2019 and the amendments can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is currently assessing the impact that adopting this new standard will have on its condensed consolidated financial statements and footnote disclosures.
Leases - Lessee	Lessee: The Company determines if an arrangement is a lease at inception by considering whether that arrangement conveys the right to use an identified asset for a period of time in exchange for consideration. Operating leases are included in operating lease ROU assets and operating lease liabilities in the Company's condensed consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company uses the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has also elected, for all classes of underlying assets, to not recognize lease liabilities and lease assets for leases with a term of 12 months or less.
Leases - Lessor	Lessor: The Company reviews its contracts to determine if they qualify as a lease. A contract is determined to be a lease when the right to substantially all of the economic benefits and to direct the use of an identified asset is transferred to a customer over a defined period of time for consideration. During this review, the Company evaluates among other items, asset specification, substitution rights, purchase options, operating rights and control over the asset during the contract period. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately under ASC 606, Revenue from Contracts with Customers . The Company has elected to not separate non-lease components from lease components for all classes of underlying assets where the component follows the same timing and pattern as the lease component. Non-lease components included in rental revenue primarily consist of tenant reimbursements for common area maintenance and other services paid for by the lessor and utilized by the lessee. Rental revenue is primarily derived from operating leases and, therefore, is generally recognized on a straight-line basis over the term of the lease. Fixed contractual payments from the Company's leases are recognized on a straight-line basis over the terms of the respective leases. Straight-line rental revenue commences when the customer assumes control of the leased premises. Accrued straight-line rents receivable represents the amount by which straight-line rental revenue exceeds rents currently billed in accordance with lease agreements. Certain of the Company's lease agreements include terms for contingent rental revenue (e.g. percentage rents based on tenant sales volume) and tenant reimbursed property taxes, which are both accounted for as variable payments. Certain of the Company's leases include termination and/or extension options. Termination options allow the customer to terminate the lease prior to the end of the lease term under specific circumstances. The Company's extension options generally require a re-negotiation with the customer at market rates. Initial direct costs, primarily commissions, related to the leasing of properties are capitalized on the balance sheet and amortized over the lease term. All other costs to negotiate or arrange a lease are expensed as incurred. Accounts receivable related to leases are regularly evaluated for collectability, considering factors including, but not limited to, the credit quality of the customer, historical trends of the customer, and changes in customer payment terms. Upon determination that the collectability of a customer receivable is not probable, the Company will record an allowance for such receivable and a corresponding reduction to revenue previously recognized. Subsequent revenue is recorded on a cash basis until collectability on related billings becomes probable.
Changes in estimates on construction contracts	Changes in estimates on construction contracts Revenue on the Company's long-term construction contracts are recognized using the percentage of completion, cost-to-cost, input method. Due to the nature of the work required to be performed, estimating total revenue and cost at completion of the contract is complex, subject to many variables and requires significant judgment. Such estimates of contract revenue and cost are dependent on a number of factors that may change during a contract performance period, resulting in changes to estimated contract profitability. These factors include, but are not limited to, the completeness and accuracy of the original bid; changes in the timing of scheduled work; change orders; unusual weather conditions; changes in costs of labor and/or materials; changes in productivity expectations; and the expected, or actual, resolution terms for claims. Management evaluates changes in estimates on a contract by contract basis and uses the cumulative catch-up method to account for the changes in the period in which they are determined.
Discontinued Operations	Discontinued operations In December 2016, the Company completed its final sugar harvest and ceased its sugar operations. Costs related to the cessation of sugar operations are presented as discontinued operations in the condensed consolidated statements of operations. Liabilities related to the cessation of sugar operations are presented within Accrued and other liabilities

Earnings Per Share (_EPS_) (Tab

Earnings Per Share (“EPS”) (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of Reconciliation of Income and Computation of Earnings per Share	The following table provides a reconciliation of income (loss) from continuing operations to income (loss) from continuing operations available to A&B shareholders and net income (loss) available to A&B shareholders (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income (loss) from Continuing Operations $ (50.8 ) $ 15.8 $ (42.6 ) $ 66.2 Less: (Income) loss attributable to noncontrolling interest 1.1 (0.8 ) 1.8 (1.4 ) Income (loss) from continuing operations attributable to A&B shareholders (49.7 ) 15.0 (40.8 ) 64.8 Income (loss) from discontinued operations available to A&B shareholders, net of income taxes (0.1 ) (0.2 ) (0.8 ) (0.2 ) Net income (loss) available to A&B shareholders $ (49.8 ) $ 14.8 $ (41.6 ) $ 64.6 The number of shares used to compute basic and diluted earnings per share is as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Denominator for basic EPS - weighted average shares outstanding 72.3 72.0 72.2 70.2 Effect of dilutive securities: Non-participating stock options and restricted stock unit awards — 0.4 — 0.4 Special Distribution — — — 1.8 Denominator for diluted EPS - weighted average shares outstanding 72.3 72.4 72.2 72.4

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are stated at the lower of cost (principally first-in, first-out basis) or net realizable value. Inventories as of September 30, 2019 and December 31, 2018 were as follows (in millions): September 30, 2019 December 31, 2018 Asphalt $ 9.7 $ 9.4 Processed rock and sand 7.5 9.5 Work in progress 3.2 4.0 Retail merchandise 2.1 2.0 Parts, materials and supplies inventories 1.4 1.6 Total $ 23.9 $ 26.5

Share-Based Payment Awards (Tab

Share-Based Payment Awards (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table summarizes the Company's stock option activity for the nine months ended September 30, 2019 (in thousands, except weighted-average exercise price and weighted-average contractual life): 2012 Plan Weighted- Weighted- Aggregate Outstanding, January 1, 2019 580.1 $ 12.91 Exercised (225.8) $ 11.29 Canceled (2.0) $ 13.11 Outstanding, September 30, 2019 352.3 $ 13.95 1.8 years $ 3,756 Vested or expected to vest 352.3 $ 13.95 1.8 years $ 3,756 Exercisable, September 30, 2019 352.3 $ 13.95 1.8 years $ 3,756
Summary of Non-vested Restricted Stock Unit Activity	The following table summarizes non-vested restricted stock unit activity for the nine months ended September 30, 2019 (in thousands, except weighted-average grant-date fair value amounts): 2012 Plan Weighted- Outstanding, January 1, 2019 421.3 $ 25.91 Granted 264.0 $ 20.05 Vested (149.5 ) $ 23.72 Canceled (78.8 ) $ 22.07 Outstanding, September 30, 2019 457.0 $ 23.90
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: 2019 Grants 2018 Grants Volatility of A&B common stock 23.8 % 22.7 % Average volatility of peer companies 23.8 % 21.6 % Risk-free interest rate 1.8 % 2.3 %
Summary of Compensation Cost related to Share-based Payments	A summary of compensation cost related to share-based payments is as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Share-based expense: Time-based and market-based restricted stock units $ 1.4 $ 1.3 $ 4.1 $ 4.0 Total recognized tax benefit — (0.1 ) — (0.4 ) Share-based expense (net of tax) $ 1.4 $ 1.2 $ 4.1 $ 3.6

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2019
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 Company's pension and post-retirement plans for the three and nine months ended September 30, 2019 and 2018 are shown below (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Service cost $ 0.7 $ 0.5 $ 1.8 $ 1.6 Interest cost 2.1 2.0 6.3 6.0 Expected return on plan assets (1.8 ) (2.1 ) (5.4 ) (6.2 ) Amortization of net loss 0.9 1.1 2.9 3.3 Amortization of prior service credit (0.1 ) (0.2 ) (0.4 ) (0.5 ) Curtailment (gain)/loss — — — (0.4 ) Net periodic benefit cost $ 1.8 $ 1.3 $ 5.2 $ 3.8

Real Estate Asset Acquisitions

Real Estate Asset Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	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 $ 106.9 Property and improvements 91.3 In-place leases 23.2 Favorable leases 4.3 Total assets acquired $ 225.7 Liabilities assumed: Unfavorable leases $ 7.3 Total liabilities assumed 7.3 Net assets acquired $ 218.4

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2019 were as follows (in millions): Employee Interest Rate Swap Total Balance, January 1, 2019 $ (55.2 ) $ 3.3 $ (51.9 ) Other comprehensive income (loss) before reclassifications, net of taxes of $0 for interest rate swap — (5.5 ) (5.5 ) Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0 for employee benefit plans 2.5 — 2.5 Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0 for interest rate swap — (0.1 ) (0.1 ) Balance, September 30, 2019 $ (52.7 ) $ (2.3 ) $ (55.0 )
Summary of Reclassifications of Other Comprehensive Income (Loss)	The details of the changes in accumulated other comprehensive income (loss), including reclassifications out of accumulated other comprehensive income (loss), by component for the three and nine months ended September 30, 2019 and 2018 , respectively, were as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Unrealized interest rate hedging gain (loss) $ (2.0 ) $ 0.6 $ (5.5 ) $ 3.0 Impact of reclassification adjustment to interest expense included in Net Income (Loss) 0.2 — (0.1 ) — Amortization of defined benefit pension items reclassified to net periodic pension cost: Actuarial loss 1 0.9 1.1 2.9 3.3 Prior service credit 1 (0.1 ) (0.2 ) (0.4 ) (0.5 ) Curtailment (gain)/loss 1 — — — (0.4 ) Total before income tax (1.0 ) 1.5 (3.1 ) 5.4 Income taxes — (0.4 ) — (1.4 ) Other comprehensive income (loss), net of tax $ (1.0 ) $ 1.1 $ (3.1 ) $ 4.0 1 This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost (see Note 9 for additional details).

Notes Payable and Total Debt (T

Notes Payable and Total Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Notes Payable and Long-term Debt	At September 30, 2019 and December 31, 2018 , notes payable and total debt consisted of the following (in millions): Principal Outstanding Debt Interest Rate Maturity September 30, 2019 December 31, 2018 Secured: Kailua Town Center (1) 2021 $ 10.3 $ 10.5 Kailua Town Center #2 3.15% 2021 4.7 4.7 Heavy equipment financing (2) 2023 2.0 — Laulani Village 3.93% 2024 62.0 62.0 Pearl Highlands 4.15% 2024 84.0 85.3 Manoa Marketplace (3) 2029 59.8 60.0 Subtotal $ 222.8 $ 222.5 Unsecured: Term Loan 3 5.19% 2019 0.7 2.3 Term Loan 4 (4) 2019 — 9.4 Series D Note 6.90% 2020 16.2 32.5 Bank syndicated loan (5) 2023 50.0 50.0 Series A Note 5.53% 2024 28.5 28.5 Series J Note 4.66% 2025 10.0 10.0 Series B Note 5.55% 2026 46.0 46.0 Series C Note 5.56% 2026 23.0 24.0 Series F Note 4.35% 2026 22.0 22.0 Series H Note 4.04% 2026 50.0 50.0 Series K Note 4.81% 2027 34.5 34.5 Series G Note 3.88% 2027 42.5 42.5 Series L Note 4.89% 2028 18.0 18.0 Series I Note 4.16% 2028 25.0 25.0 Term Loan 5 4.30% 2029 25.0 25.0 Subtotal $ 391.4 $ 419.7 Revolving Credit Facilities: GLP Asphalt revolving credit facility (6) 2020 0.5 0.4 Revolving credit facility (7) 2022 118.4 136.6 Subtotal $ 118.9 $ 137.0 Total debt (contractual) $ 733.1 $ 779.2 Unamortized debt premium (discount) (0.1 ) (0.2 ) Unamortized debt issuance costs (0.6 ) (0.9 ) Total debt (carrying value) $ 732.4 $ 778.1 (1) Loan has a stated interest rate of LIBOR plus 1.50%, but is swapped through maturity to a 5.95% fixed rate. (2) Loans have a stated rate ranging from 4.08% to 5.00% (3) Loan has a stated interest rate of LIBOR plus 1.35%, but is swapped through maturity to a 3.14% fixed rate. (4) Loan has a stated interest rate of LIBOR plus 2.00%, and is secured by a letter of credit. (5) Loan has a stated interest rate of LIBOR plus 1.60%, based on pricing grid. (6) Loan has a stated interest rate of LIBOR plus 1.25%. (7) Loan has a stated interest rate of LIBOR plus 1.65%, based on pricing grid.

Investments in Affiliates (Tabl

Investments in Affiliates (Tables)	9 Months Ended
	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Summarized financial information of entities accounted for by the equity method on a combined basis for the three and nine months ended September 30, 2019 and 2018 is as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Revenues $ 44.7 $ 78.0 $ 143.1 $ 202.6 Operating costs and expenses 35.6 64.8 127.6 172.5 Gross Profit (Loss) $ 9.1 $ 13.2 $ 15.5 $ 30.1 Income (Loss) from Continuing Operations 1 $ 5.5 $ 9.9 $ 6.6 $ 14.3 Net Income (Loss) 1 $ 5.4 $ 9.8 $ 6.4 $ 14.0 1 Includes earnings from equity method investments held by the investee.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swap	As of September 30, 2019 , the Company has one interest rate swap that has not been designated as a cash flow hedge whose key terms are as follows (dollars in millions): Effective Maturity Fixed Interest Notional Amount at Fair Value at Classification on Date Date Rate September 30, 2019 September 30, 2019 December 31, 2018 Balance Sheet 1/1/2014 9/1/2021 5.95% $ 10.3 $ (0.6 ) $ (0.5 ) Accrued and other liabilities As of September 30, 2019 , the Company has one interest rate swap agreement designated as a cash flow hedge whose key terms are as follows (dollars in millions): Effective Maturity Fixed Interest Notional Amount at Fair Value at Date Date Rate September 30, 2019 September 30, 2019 December 31, 2018 4/7/2016 8/1/2029 3.14% $ 60.0 $ (1.7 ) $ 3.9
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Derivatives in Designated Cash Flow Hedging Relationships: Amount of gain (loss) recognized in OCI on derivatives $ (2.0 ) $ 0.6 $ (5.5 ) $ 3.0 Impact of reclassification adjustment to interest expense included in Net Income (Loss) $ 0.2 $ — $ (0.1 ) $ —

Segment Results (Tables)

Segment Results (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of Operating Segment Information	Operating segment information for the three and nine months ended September 30, 2019 and 2018 is summarized below (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Operating Revenue: Commercial Real Estate $ 42.7 $ 35.9 $ 118.6 $ 104.9 Land Operations 8.5 24.0 82.4 72.6 Materials & Construction 37.9 59.5 126.6 167.3 Total operating revenue 89.1 119.4 327.6 344.8 Operating Profit (Loss): Commercial Real Estate 1 18.0 15.9 50.6 45.0 Land Operations 2 2.8 13.1 15.9 9.3 Materials & Construction (57.9 ) 3.4 (66.7 ) 7.2 Total operating profit (loss) (37.1 ) 32.4 (0.2 ) 61.5 Gain (loss) on the sale of commercial real estate properties — — — 49.8 Interest expense (8.2 ) (9.1 ) (25.4 ) (26.4 ) General corporate expenses (5.5 ) (6.5 ) (18.1 ) (20.5 ) Income (Loss) from Continuing Operations Before Income Taxes $ (50.8 ) $ 16.8 $ (43.7 ) $ 64.4 1 Commercial Real Estate segment operating profit (loss) includes intersegment operating revenue, primarily from the Materials & Construction segment, and is eliminated in the condensed consolidated results of operations. 2 Land Operations segment operating profit (loss) includes equity in earnings (losses) from the Company's various real estate joint ventures and non-cash reductions related to the Company's solar tax equity investments. Segment balance sheet information as of September 30, 2019 and December 31, 2018 is summarized below (in millions): September 30, 2019 December 31, 2018 Identifiable Assets: Commercial Real Estate $ 1,539.2 $ 1,530.4 Land Operations 300.9 350.0 Materials & Construction 259.0 297.1 Other 22.6 47.7 Total assets $ 2,121.7 $ 2,225.2

Revenue and Contract Balances (

Revenue and Contract Balances (Tables)	9 Months Ended
	Sep. 30, 2019
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Revenues: Commercial Real Estate $ 42.7 $ 35.9 $ 118.6 $ 104.9 Land Operations: Development sales revenue 0.8 9.0 31.2 42.8 Unimproved/other property sales revenue 1.5 9.1 32.4 11.5 Other operating revenue 6.2 5.9 18.8 18.3 Land Operations 8.5 24.0 82.4 72.6 Materials & Construction 37.9 59.5 126.6 167.3 Total revenues $ 89.1 $ 119.4 $ 327.6 $ 344.8
Schedule of Contract Balances	The following table provides information about receivables, contract assets and contract liabilities from contracts with customers: (in millions) September 30, 2019 January 1, 2019 Accounts receivable, net $ 58.2 $ 49.6 Contracts retention $ 9.6 $ 11.6 Costs and estimated earnings in excess of billings on uncompleted contracts $ 9.5 $ 9.2 Billings in excess of costs and estimated earnings on uncompleted contracts $ 9.7 $ 5.9 Variable consideration $ 62.0 $ 62.0 Deferred revenue $ 6.4 $ 1.2

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Lease Expenses and Supplemental Information	Lease expense for operating leases that provide for future escalations are accounted for on a straight-line basis. For the three and nine months ended September 30, 2019 , lease expense under operating and finance leases was as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 Operating lease cost $ 1.9 $ 5.2 Finance lease cost: Amortization of right-of-use assets 0.2 0.4 Interest on lease liabilities 0.1 0.1 Total lease cost $ 2.2 $ 5.7 Supplemental cash flow information related to operating and finance leases for the nine months ended September 30, 2019 was as follows (in millions): Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 4.4 Operating cash outflows from financing leases $ 0.1 Financing cash flows from finance leases $ 0.4
Supplemental Balance Sheet information Related to Operating and Finance Leases	Supplemental balance sheet information related to operating and finance leases as of September 30, 2019 was as follows: Weighted-average remaining lease term (years) - operating leases 9.3 Weighted-average remaining lease term (years) - finance leases 2.7 Weighted-average discount rate - operating leases 4.4 % Weighted-average discount rate - finance leases 4.5 %
Future Lease Payments Under Non-cancelable Operating and Finance Leases	Future lease payments under non-cancelable operating and finance leases as of September 30, 2019 were as follows (in millions): September 30, 2019 Operating Leases Finance Leases 2019 $ 1.3 $ 0.2 2020 5.2 0.8 2021 5.1 0.7 2022 5.0 0.3 2023 3.9 0.1 2024 2.2 — Thereafter 8.4 — Total lease payments $ 31.1 $ 2.1 Less: Interest (8.1 ) (0.1 ) Total lease liabilities $ 23.0 $ 2.0
Schedule of Lessee Future Payments Under Non-cancelable Operating Leases	Future lease payments under non-cancelable operating and finance leases as of September 30, 2019 were as follows (in millions): September 30, 2019 Operating Leases Finance Leases 2019 $ 1.3 $ 0.2 2020 5.2 0.8 2021 5.1 0.7 2022 5.0 0.3 2023 3.9 0.1 2024 2.2 — Thereafter 8.4 — Total lease payments $ 31.1 $ 2.1 Less: Interest (8.1 ) (0.1 ) Total lease liabilities $ 23.0 $ 2.0
Schedule of Future Minimum Payments under Non-cancelable Operating Leases	Future lease payments under non-cancelable operating leases as of December 31, 2018 were as follows (in millions): December 31, 2018 2019 $ 5.5 2020 5.4 2021 5.3 2022 5.3 2023 4.5 Thereafter 13.9 $ 39.9 Future lease payments to be received on non-cancelable operating leases as of December 31, 2018 were as follows (in millions): December 31, 2018 2019 $ 97.6 2020 96.2 2021 78.2 2022 69.3 2023 59.9 Thereafter 407.8 $ 809.0
Schedule of Historical Cost, and Accumulated Depreciation on Leased Property	The historical cost of, and accumulated depreciation on, leased property as of September 30, 2019 and December 31, 2018 were as follows (in millions): September 30, 2019 December 31, 2018 Leased property - real estate $ 1,501.2 $ 1,263.0 Less: Accumulated depreciation (115.2 ) (104.4 ) Property under operating leases, net $ 1,386.0 $ 1,158.6
Schedule of Rental Income Under Non-cancelable Operating Leases	Total rental income under these operating leases were as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 Lease payments $ 54.0 $ 80.4 Variable lease payments 2.5 3.6 Total $ 56.5 $ 84.0
Schedule of Lessor Future Rentals on Non-cancelable Operating Leases	Future lease payments to be received on non-cancelable operating leases as of September 30, 2019 were as follows (in millions): September 30, 2019 2019 $ 32.3 2020 115.0 2021 102.1 2022 90.0 2023 79.9 2024 68.0 Thereafter 485.6 Total lease receivables $ 972.9

Goodwill Impairment (Tables)

Goodwill Impairment (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Amount of Goodwill	Changes in the carrying amount of goodwill allocated to the Company's reportable segments for the nine months ended September 30, 2019 consisted of the following (in millions): Materials & Construction Commercial Real Estate Total Balance, January 1, 2019 $ 56.4 $ 8.7 $ 65.1 Goodwill Impairment (49.7 ) — (49.7 ) Balance, September 30, 2019 $ 6.7 $ 8.7 $ 15.4

Description of Business (Detail

Description of Business (Details) ft² in Millions	9 Months Ended
	Sep. 30, 2019aft²PropertySegment
Property, Plant and Equipment [Line Items]
Number of segments | Segment	3
Gross leasable area (in sq.ft) | ft²	3.9
Area of ground leases owned (acres) | a	154
Retail centers
Property, Plant and Equipment [Line Items]
Number of properties	22
Industrial assets
Property, Plant and Equipment [Line Items]
Number of properties	10
Office properties
Property, Plant and Equipment [Line Items]
Number of properties	4

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jan. 01, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Increase to operating income	$ (45.6)	$ 17.7	$ (27.2)	$ 82.4
Operating lease liabilities	23		23
Operating lease right-of-use assets	22.7		22.7
Interest income			2.9
Pension and postretirement benefit expense			3.4	2.2
Discontinued operations available to A&B shareholders	$ 0.1	$ 0.2	0.8	0.2
ASU 2018-17
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Increase to operating income				$ 49.8
ASU 2016-02
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Operating lease liabilities					$ 31
Operating lease right-of-use assets					$ 31
Ka Milo
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net gain on the sale of the Company's joint venture			$ 4.2

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Feb. 01, 2019	Jan. 07, 2019gal	Apr. 10, 2015plaintiff	May 31, 2016	Dec. 31, 2015plaintiff	Oct. 11, 2019License	Sep. 30, 2019USD ($)joint_venture	Dec. 31, 2018aLicense	Dec. 31, 1986License
Loss Contingencies [Line Items]
Number of water licenses held and extended as revocable permits | License								4	4
Interest held in EMI (percent)	50.00%
Maui
Loss Contingencies [Line Items]
Area of land sold (acres) | a								41,000
Bid, Performance and Payment Bonds and Commercial Bonds
Loss Contingencies [Line Items]
Possible administrative penalty							$ 440.8
Estimated remaining exposure							79.8
Performance Bond
Loss Contingencies [Line Items]
Possible administrative penalty							$ 421.7
Long Term Water Lease Request
Loss Contingencies [Line Items]
Number of parties filed lawsuit | plaintiff			3		3
Duration of revocable permits for disposition of water rights				3 years
Sierra Club Lawsuit Against BLNR, A&B, and EMI
Loss Contingencies [Line Items]
Number of gallons per day sought to be enjoined (gallons) | gal		25,000,000
Financial Guarantee
Loss Contingencies [Line Items]
Number of joint ventures | joint_venture							1
Guarantor obligations, current carrying value							$ 3.1
East Maui Irrigation Company, LLC (EMI) | East Maui
Loss Contingencies [Line Items]
Watershed lands owned (in acres) | a								16,000
State of Hawai'i | East Maui
Loss Contingencies [Line Items]
Additional watershed lands accessible by licenses (in acres) | a								30,000
Letters of Credit
Loss Contingencies [Line Items]
Standby letters of credit outstanding							$ 1.7
Subsequent Event | East Maui
Loss Contingencies [Line Items]
Number of water licenses held and extended as revocable permits | License						4

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Income (loss) from Continuing Operations	$ (50.8)	$ 15.8	$ (42.6)	$ 66.2
Less: (Income) loss attributable to noncontrolling interest	1.1	(0.8)	1.8	(1.4)
Income (loss) from continuing operations attributable to A&B shareholders	(49.7)	15	(40.8)	64.8
Income (loss) from discontinued operations available to A&B shareholders, net of income taxes	(0.1)	(0.2)	(0.8)	(0.2)
Net income (loss) available to A&B shareholders	$ (49.8)	$ 14.8	$ (41.6)	$ 64.6
Number of shares used to compute basic and diluted earnings per share [Abstract]
Denominator for basic EPS – weighted-average shares outstanding (in shares)	72.3	72	72.2	70.2
Effect of dilutive securities:
Non-participating stock options and restricted stock unit awards (in shares)	0	0.4	0	0.4
Special Distribution (in shares)	0	0	0	1.8
Denominator for diluted EPS – weighted average shares outstanding (in shares)	72.3	72.4	72.2	72.4

Earnings Per Share (_EPS_) - Na

Earnings Per Share (“EPS”) - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Anti-dilutive securities outstanding (in shares)	0.4	0.1	0.4	0.1

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term notes receivable	$ 15.7	$ 16.3
Company's debt	732.4	778.1
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term notes receivable	15.7	16.3
Company's debt	$ 753.8	$ 758

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Inventory [Line Items]
Inventories	$ 23.9	$ 26.5
Asphalt
Inventory [Line Items]
Inventories	9.7	9.4
Processed rock and sand
Inventory [Line Items]
Inventories	7.5	9.5
Work in progress
Inventory [Line Items]
Inventories	3.2	4
Retail merchandise
Inventory [Line Items]
Inventories	2.1	2
Parts, materials and supplies inventories
Inventory [Line Items]
Inventories	$ 1.4	$ 1.6

Share-Based Payment Awards - Sc

Share-Based Payment Awards - Schedule of Stock Option Activity (Details) - Stock Options - 2012 Plan $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
2012 Plan Stock Options
Outstanding, beginning balance (in shares) | shares	580,100
Exercised (in shares) | shares	(225,800)
Canceled (in shares) | shares	(2,000)
Outstanding, ending balance (in shares) | shares	352,300
Vested or expected to vest (in shares) | shares	352,300
Exercisable (in shares) | shares	352,300
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 12.91
Exercised (in dollars per share) | $ / shares	11.29
Canceled (in dollars per share) | $ / shares	13.11
Outstanding, ending balance (in dollars per share) | $ / shares	13.95
Vested or expected to vest (in dollars per share) | $ / shares	13.95
Exercisable (in dollars per share) | $ / shares	$ 13.95
Weighted- average contractual life
Outstanding	1 year 9 months 18 days
Vested or expected to vest	1 year 9 months 18 days
Exercisable	1 year 9 months 18 days
Aggregate intrinsic value
Outstanding | $	$ 3,756
Vested or expected to vest | $	3,756
Exercisable | $	$ 3,756

Share-Based Payment Awards - Su

Share-Based Payment Awards - Summary of Non-vested Restricted Stock Unit Activity (Details) - Time-based and market-based restricted stock units - 2012 Plan	9 Months Ended
	Sep. 30, 2019$ / sharesshares
2012 Plan Restricted Stock Units
Outstanding, beginning balance (in shares) | shares	421,300
Granted (in shares) | shares	264,000
Vested (in shares) | shares	(149,500)
Canceled (in shares) | shares	(78,800)
Outstanding, ending balance (in shares) | shares	457,000
Weighted- Average Grant-date Fair Value
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 25.91
Granted (in dollars per share) | $ / shares	20.05
Vested (in dollars per share) | $ / shares	23.72
Canceled (in dollars per share) | $ / shares	22.07
Outstanding, ending balance (in dollars per share) | $ / shares	$ 23.90

Share-Based Payment Awards - Na

Share-Based Payment Awards - Narrative (Details) - 2012 Plan	9 Months Ended
	Sep. 30, 2019
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Employee | Time-based and market-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Granted prior to 2018 | Non-employee Director | Time-based and market-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2018 Grants | Non-employee Director | Time-based and market-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year

Share-Based Payment Awards - _2

Share-Based Payment Awards - Schedule of Fair Value Assumptions of Market-based Awards (Details) - Time-based and market-based restricted stock units - 2012 Plan - Time-Based Vesting	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility of A&B common stock (percent)	23.80%	22.70%
Average volatility of peer companies (percent)	23.80%	21.60%
Risk-free interest rate (percent)	1.80%	2.30%

Share-Based Payment Awards - _3

Share-Based Payment Awards - Summary of Compensation Cost related to Share-based Payments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total recognized tax benefit	$ 0	$ (0.1)	$ 0	$ (0.4)
Share-based expense (net of tax)	1.4	1.2	4.1	3.6
Time-based and market-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Time-based and market-based restricted stock units	$ 1.4	$ 1.3	$ 4.1	$ 4

Related Party Transactions (Det

Related Party Transactions (Details) - Affiliated Entity - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2018
Materials & Construction | Supplier Contracts
Related Party Transaction [Line Items]
Revenue from related parties	$ 2,800,000	$ 4,500,000	$ 9,600,000	$ 10,800,000
Receivables from related parties	1,500,000		1,500,000			$ 2,200,000
Payables to related parties	700,000		700,000			600,000
Real estate leasing and development | Lease Agreements
Related Party Transaction [Line Items]
Revenue from related parties	0	1,200,000	1,300,000	3,500,000
Receivables from related parties	0		0			100,000
Land Operations | Service revenues and Interest
Related Party Transaction [Line Items]
Revenue from related parties	1,100,000	$ 100,000	1,700,000	$ 100,000
Receivables from related parties	100,000		100,000			100,000
Land Operations | Extension of Secured Note Receivable
Related Party Transaction [Line Items]
Term of construction loan					5 years
Receivable from affiliate	$ 13,100,000		$ 13,100,000			$ 13,500,000

Employee Benefit Plans - Summar

Employee Benefit Plans - Summary of Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss (Details) - Pension and Post-retirement Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Components of Net Periodic Benefit Cost
Service cost	$ 0.7	$ 0.5	$ 1.8	$ 1.6
Interest cost	2.1	2	6.3	6
Expected return on plan assets	(1.8)	(2.1)	(5.4)	(6.2)
Amortization of net loss	0.9	1.1	2.9	3.3
Amortization of prior service credit	(0.1)	(0.2)	(0.4)	(0.5)
Curtailment (gain)/loss	0	0	0	(0.4)
Net periodic benefit cost	$ 1.8	$ 1.3	$ 5.2	$ 3.8

Real Estate Asset Acquisition_2

Real Estate Asset Acquisitions (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)Property	Dec. 31, 2018USD ($)
Real Estate [Line Items]
Total assets	$ 2,121.7	$ 2,225.2
Total liabilities	$ 985.4	$ 1,009
Weighted average amortization period of unfavorable leases	18 years 7 months 6 days
In-place lease
Real Estate [Line Items]
Weighted-average amortization period of in-place/favorable leases	8 years 2 months 12 days
Unfavorable leases
Real Estate [Line Items]
Weighted-average amortization period of in-place/favorable leases	4 years 8 months 12 days
2019 Acquisitions
Real Estate [Line Items]
Number of commercial real estate assets purchased | Property	5
Purchase consideration	$ 218.4
Land	106.9
Property and improvements	91.3
In-place leases	23.2
Favorable leases	4.3
Total assets	225.7
Unfavorable leases	7.3
Total liabilities	7.3
Net assets acquired	$ 218.4

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Total Equity
Beginning balance	$ 1,208.3
Ending balance	1,128.4
Other comprehensive loss before reclassifications, tax	0
Accumulated Other Compre- hensive Income (Loss)
Total Equity
Beginning balance	(51.9)
Ending balance	(55)
Employee Benefit Plans
Total Equity
Beginning balance	(55.2)
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0	2.5
Ending balance	(52.7)
Amounts reclassified from accumulated other comprehensive loss, tax	0
Interest Rate Swap
Total Equity
Beginning balance	3.3
Other comprehensive income (loss) before reclassifications, net of taxes of $0 for interest rate swap	(5.5)
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes of $0	(0.1)
Ending balance	(2.3)
Amounts reclassified from accumulated other comprehensive loss, tax	$ 0

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Reclassification of Other Comprehensive Income (Loss) Components (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Equity [Abstract]
Unrealized interest rate hedging gain (loss)	$ (2)	$ 0.6	$ (5.5)	$ 3
Impact of reclassification adjustment to interest expense included in Net Income (Loss)	0.2	0	(0.1)	0
Actuarial loss	0.9	1.1	2.9	3.3
Prior service credit	(0.1)	(0.2)	(0.4)	(0.5)
Curtailment (gain)/loss	0	0	0	(0.4)
Total before income tax	(1)	1.5	(3.1)	5.4
Income taxes	0	(0.4)	0	(1.4)
Other comprehensive income (loss), net of tax	$ (1)	$ 1.1	$ (3.1)	$ 4

Notes Payable and Total Debt -

Notes Payable and Total Debt - Schedule of Notes Payable and Long-term Debt (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 733.1		$ 779.2
Unamortized debt premium (discount)	(0.1)		(0.2)
Unamortized debt issuance costs	(0.6)		(0.9)
Total debt (carrying value)	732.4		778.1
Capitalized interest costs	0.8	$ 0.4
Secured debt
Debt Instrument [Line Items]
Long-term debt, gross	222.8		222.5
Secured debt | Kailua Town Center
Debt Instrument [Line Items]
Long-term debt, gross	$ 10.3		10.5
Swapped maturity fixed interest rate	5.95%
Secured debt | Kailua Town Center 2
Debt Instrument [Line Items]
Long-term debt, gross	$ 4.7		4.7
Stated interest rate	3.15%
Secured debt | Heavy equipment financing
Debt Instrument [Line Items]
Long-term debt, gross	$ 2		0
Secured debt | Laulani Village
Debt Instrument [Line Items]
Long-term debt, gross	$ 62		62
Stated interest rate	3.93%
Secured debt | Pearl Highlands
Debt Instrument [Line Items]
Long-term debt, gross	$ 84		85.3
Stated interest rate	4.15%
Secured debt | Manoa Marketplace
Debt Instrument [Line Items]
Long-term debt, gross	$ 59.8		60
Swapped maturity fixed interest rate	3.14%
Secured debt | Minimum | Heavy equipment financing
Debt Instrument [Line Items]
Stated interest rate	4.08%
Secured debt | Maximum | Heavy equipment financing
Debt Instrument [Line Items]
Stated interest rate	5.00%
Unsecured debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 391.4		419.7
Unsecured debt | Term Loan 3
Debt Instrument [Line Items]
Long-term debt, gross	$ 0.7		2.3
Stated interest rate	5.19%
Unsecured debt | Term Loan 4
Debt Instrument [Line Items]
Long-term debt, gross	$ 0		9.4
Unsecured debt | Series D Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 16.2		32.5
Stated interest rate	6.90%
Unsecured debt | Bank syndicated loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 50		50
Unsecured debt | Series A Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 28.5		28.5
Stated interest rate	5.53%
Unsecured debt | Series J Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 10		10
Stated interest rate	4.66%
Unsecured debt | Series B Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 46		46
Stated interest rate	5.55%
Unsecured debt | Series C Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 23		24
Stated interest rate	5.56%
Unsecured debt | Series F Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 22		22
Stated interest rate	4.35%
Unsecured debt | Series H Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 50		50
Stated interest rate	4.04%
Unsecured debt | Series K Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 34.5		34.5
Stated interest rate	4.81%
Unsecured debt | Series G Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 42.5		42.5
Stated interest rate	3.88%
Unsecured debt | Series L Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 18		18
Stated interest rate	4.89%
Unsecured debt | Series I Note
Debt Instrument [Line Items]
Long-term debt, gross	$ 25		25
Stated interest rate	4.16%
Unsecured debt | Term Loan 5
Debt Instrument [Line Items]
Long-term debt, gross	$ 25		25
Stated interest rate	4.30%
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 118.9		137
Revolving Credit Facility | GLP Asphalt revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	0.5		0.4
Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 118.4		$ 136.6
LIBOR | Secured debt | Kailua Town Center
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
LIBOR | Secured debt | Manoa Marketplace
Debt Instrument [Line Items]
Basis spread on variable rate	1.35%
LIBOR | Unsecured debt | Term Loan 4
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
LIBOR | Unsecured debt | Bank syndicated loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%
LIBOR | Revolving Credit Facility | GLP Asphalt revolving credit facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
LIBOR | Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%

Investments in Affiliates - Sum

Investments in Affiliates - Summary of Financial Information for Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement
Revenues	$ 44.7	$ 78	$ 143.1	$ 202.6
Operating costs and expenses	35.6	64.8	127.6	172.5
Gross Profit (Loss)	9.1	13.2	15.5	30.1
Income (Loss) from Continuing Operations	5.5	9.9	6.6	14.3
Net Income (Loss)	$ 5.4	$ 9.8	$ 6.4	$ 14

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges of Interest Rate Swaps (Details) - Interest Rate Swap - Designated as Hedging Instrument $ in Millions	Sep. 30, 2019USD ($)interest_rate_swap	Dec. 31, 2018USD ($)
Derivative [Line Items]
Number of interest rate swap agreements | interest_rate_swap	1
Other Assets | Cash Flow Hedging
Derivative [Line Items]
Fixed Interest Rate (percent)	3.14%
Notional Amount	$ 60
Fair value of interest rate swap liability	$ (1.7)
Interest rate derivative, at fair value		$ 3.9

Derivative Instruments - Non-de

Derivative Instruments - Non-designated Hedges Interest Rate Swaps (Details) - Not Designated as Hedging Instrument - Interest Rate Swap $ in Millions	Sep. 30, 2019USD ($)interest_rate_swap	Dec. 31, 2018USD ($)
Derivative [Line Items]
Number of interest rate swap agreements | interest_rate_swap	1
Other Non-Current Liabilities
Derivative [Line Items]
Fixed Interest Rate (percent)	5.95%
Notional Amount	$ 10.3
Fair value of interest rate swap liability	$ (0.6)	$ (0.5)

Derivative Instruments - Deriva

Derivative Instruments - Derivative Instruments in Designated Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivatives	$ (2)	$ 0.6	$ (5.5)	$ 3
Impact of reclassification adjustment to interest expense included in Net Income (Loss)	0.2	0	(0.1)	0
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivatives	(2)	0.6	(5.5)	3
Impact of reclassification adjustment to interest expense included in Net Income (Loss)	$ 0.2	$ 0	$ (0.1)	$ 0

Segment Results - Schedule of O

Segment Results - Schedule of Operating Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Segment Reporting Information, Profit (Loss) [Abstract]
Total operating revenue	$ 89.1	$ 119.4	$ 327.6	$ 344.8
Total operating profit (loss)	(37.1)	32.4	(0.2)	61.5
Gain (loss) on the sale of commercial real estate properties	0	0	0	49.8
Interest expense	(8.2)	(9.1)	(25.4)	(26.4)
General corporate expenses	(5.5)	(6.5)	(18.1)	(20.5)
Income (Loss) from Continuing Operations Before Income Taxes	(50.8)	16.8	(43.7)	64.4
Identifiable Assets:
Total assets	2,121.7		2,121.7		$ 2,225.2
Commercial Real Estate
Segment Reporting Information, Profit (Loss) [Abstract]
Commercial Real Estate	42.7	35.9	118.6	104.9
Total operating profit (loss)	18	15.9	50.6	45
Land Operations
Segment Reporting Information, Profit (Loss) [Abstract]
Revenues	8.5	24	82.4	72.6
Total operating profit (loss)	2.8	13.1	15.9	9.3
Materials & Construction
Segment Reporting Information, Profit (Loss) [Abstract]
Revenues	37.9	59.5	126.6	167.3
Total operating profit (loss)	(57.9)	$ 3.4	(66.7)	$ 7.2
Operating Segments | Commercial Real Estate
Identifiable Assets:
Total assets	1,539.2		1,539.2		1,530.4
Operating Segments | Land Operations
Identifiable Assets:
Total assets	300.9		300.9		350
Operating Segments | Materials & Construction
Identifiable Assets:
Total assets	259		259		297.1
Other
Identifiable Assets:
Total assets	$ 22.6		$ 22.6		$ 47.7

Revenue and Contract Balances_2

Revenue and Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 89.1	$ 119.4	$ 327.6	$ 344.8
Development sales revenue
Disaggregation of Revenue [Line Items]
Revenues	0.8	9	31.2	42.8
Unimproved/other property sales revenue
Disaggregation of Revenue [Line Items]
Revenues	1.5	9.1	32.4	11.5
Other operating revenue
Disaggregation of Revenue [Line Items]
Revenues	6.2	5.9	18.8	18.3
Commercial Real Estate
Disaggregation of Revenue [Line Items]
Commercial Real Estate	42.7	35.9	118.6	104.9
Land Operations
Disaggregation of Revenue [Line Items]
Revenues	8.5	24	82.4	72.6
Materials & Construction
Disaggregation of Revenue [Line Items]
Revenues	$ 37.9	$ 59.5	$ 126.6	$ 167.3

Revenue and Contract Balances -

Revenue and Contract Balances - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 86.6
Revenue recognized related to contract liabilities	$ 4.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation satisfaction period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation satisfaction period
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining obligation expected to be satisfied (percent)	30.00%
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining obligation expected to be satisfied (percent)	35.00%

Revenue and Contract Balances_3

Revenue and Contract Balances - Schedule of Contract Balances (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 58.2	$ 49.6
Contracts retention	9.6	11.6
Costs and estimated earnings in excess of billings on uncompleted contracts	9.5	9.2
Billings in excess of costs and estimated earnings on uncompleted contracts	9.7	5.9
Variable consideration	62	62
Deferred revenue	$ 6.4	$ 1.2

Leases - Lessee Lease Expenses

Leases - Lessee Lease Expenses and Additional Information (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 1.9	$ 5.2
Amortization of right-of-use assets	0.2	0.4
Interest on lease liabilities	0.1	0.1
Total lease cost	$ 2.2	$ 5.7
Weighted-average remaining lease term (years) - operating leases	9 years 3 months 18 days	9 years 3 months 18 days
Weighted-average remaining lease term (years) - finance leases	2 years 8 months 12 days	2 years 8 months 12 days
Weighted-average discount rate - operating leases (percent)	4.40%	4.40%
Weighted-average discount rate - finance leases (percent)	4.50%	4.50%
Operating cash outflows from operating leases		$ 4.4
Operating cash outflows from financing leases		0.1
Financing cash flows from finance leases		$ 0.4

Leases - Future Minimum Payment

Leases - Future Minimum Payments Under Non-cancelable Operating Leases as Lessee (Details) $ in Millions	Sep. 30, 2019USD ($)
Operating Leases
2019	$ 1.3
2020	5.2
2021	5.1
2022	5
2023	3.9
2024	2.2
Thereafter	8.4
Total lease payments	31.1
Less: Interest	(8.1)
Total lease liabilities	23
Finance Leases
2019	0.2
2020	0.8
2021	0.7
2022	0.3
2023	0.1
2024	0
Thereafter	0
Total lease payments	2.1
Less: Interest	(0.1)
Total lease liabilities	$ 2

Leases - Lessee Future Lease Pa

Leases - Lessee Future Lease Payments to be Received (Details) $ in Millions	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 5.5
2020	5.4
2021	5.3
2022	5.3
2023	4.5
Thereafter	13.9
Total	$ 39.9

Leases - Lessor Lease Cost and

Leases - Lessor Lease Cost and Lease Income (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Leased property - real estate			$ 1,263
Less: Accumulated depreciation			(104.4)
Property under operating leases, net			$ 1,158.6
Lease payments	$ 54	$ 80.4
Variable lease payments	2.5	3.6
Total	56.5	84
Leased property
Property, Plant and Equipment [Line Items]
Leased property - real estate	1,501.2	1,501.2
Less: Accumulated depreciation	(115.2)	(115.2)
Property, net	$ 1,386	$ 1,386

Leases - Future Minimum Rentals

Leases - Future Minimum Rentals on Non-cancelable Operating Leases as Lessor (Details) $ in Millions	Sep. 30, 2019USD ($)
Future minimum rentals on non-cancelable leases
2019	$ 32.3
2020	115
2021	102.1
2022	90
2023	79.9
2024	68
Thereafter	485.6
Total lease receivables	$ 972.9

Leases - Lessor Future Minimum

Leases - Lessor Future Minimum Lease Payments to be Received (Details) $ in Millions	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 97.6
2020	96.2
2021	78.2
2022	69.3
2023	59.9
Thereafter	407.8
Total	$ 809

Leases - Narrative (Details)

Leases - Narrative (Details)	9 Months Ended
	Sep. 30, 2019
Lessor, Lease, Description [Line Items]
Optional lease extension term	10 years
Optional lease termination timeframe	1 year
Minimum
Lessor, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessor, Lease, Description [Line Items]
Remaining lease terms	45 years

Goodwill Impairment - Narrative

Goodwill Impairment - Narrative (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)reporting_unit	Dec. 31, 2018USD ($)reporting_unit
Goodwill [Line Items]
Goodwill | $	$ 15.4	$ 65.1
Number of reporting units | reporting_unit		3
Materials & Construction
Goodwill [Line Items]
Goodwill | $	$ 6.7	$ 56.4
Number of reporting units | reporting_unit	3
Discounted Cash Flow | Weighted-average Discount Rate
Goodwill [Line Items]
Weighted average discount rate (percent)	12.70%

Goodwill Impairment - Changes i

Goodwill Impairment - Changes in the carrying amount of goodwill (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Goodwill [Roll Forward]
Balance, January 1, 2019			$ 65.1
Goodwill Impairment	$ (49.7)	$ 0	(49.7)	$ 0
Balance, September 30, 2019	15.4		15.4
Materials & Construction
Goodwill [Roll Forward]
Balance, January 1, 2019			56.4
Goodwill Impairment			(49.7)
Balance, September 30, 2019	6.7		6.7
Commercial Real Estate
Goodwill [Roll Forward]
Balance, January 1, 2019			8.7
Goodwill Impairment			0
Balance, September 30, 2019	$ 8.7		$ 8.7

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Oct. 22, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Subsequent Event [Line Items]
Dividends declared (in dollars per share)		$ 0.19	$ 0.50	$ 11.65
Subsequent Event
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.19

Uncategorized Items - a2019q310

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,400,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,400,000)