CASE 1-6 CENTERED IN HAWAI Alexander and Baldwin, Inc.* Notes to Consolidated Financial Statements (In Part) Summary of Significant Accounting Policies (In Part) December 31, 2010 Revenue Recognition: The Company has a wide variety of revenue sources, including ship- ping revenue, logistics services revenue, property sales, rental income, and sales of raw sugar, molasses and coffee. Before recognizing revenue, the Company assesses the underlying terms of the transaction to ensure that recognition meets the requirements of relevant accounting standards. In general, the Company recognizes revenue when persuasive evidence of an arrangement exists, delivery of the service or product has occurred, the sales price is fixed or determinable, and collectibility is reasonably assured