Matson Results Presentation Deck
16
Other Financial Updates
• CCF cash balance on 6/30/23 of $583.9 million
- Nearly two-thirds of remaining milestone payments to be funded with
restricted cash in CCF (1)
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- Made a $50 million milestone payment from CCF in 2Q23 for the new
vessel build program
- Expect to make next milestone payment for new vessels in 2Q24
Continue to expect a general corporate tax refund of ~$120 million for
cash deposited into the CCF for 2021 taxes
Expect 3Q23 tax rate of ~15%, lower than 2Q23 rate of 22.5%
primarily due to 2022 tax deduction related to foreign-derived
intangible income (FDII)
• Expect 4Q23 tax rate to revert to ~24%
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(1) Based on remaining milestone payments on August 1, 2023 of ~$899 million. Excludes any interest income on cash deposits that may be earned in future years.
Second Quarter 2023 Earnings Conference Call
Matson.View entire presentation