Matson Results Presentation Deck
16
Capital Construction Fund (CCF)
●
• In February 2023, deposited $100 million in cash into CCF and pledged.
accounts receivable to reduce taxable income in 2022
●
- Following $100 million cash deposit, will have cash deposits in the CCF to
cover -66% (1) of the current remaining milestone payments for new vessel
program
CCF Cash Balance (12/31/2022)
CCF Interest Income YTD 2023
CCF Cash Deposit in February 2023
Total Restricted Cash
Current Remaining Milestone Payments
% Funded with Restricted Cash
●
- $518 million
-$4 million
$100 million
~$622 million
-$949 million
-66% (1)
Currently don't expect to make additional cash contributions to the CCF
for milestone payments until 2026
• Interest income on CCF cash deposits to be tax-advantaged and help
pay for milestone payments.
Continue to expect a tax refund for the $565 million in cash deposited
into the CCF last year
(1) Calculation excludes cash and cash equivalents on the balance sheet, which was $249.8 million as of December 31, 2022.
Fourth Quarter 2022 Earnings Conference Call
Matson.View entire presentation