The best explanation I can come up with (because I don't program in Java as frequently as in other languages) is that it make it easier to change the "back-end" list type while maintaining the same code/interface everything else is relying on. If you declare it as a more specific type first, then later decide you want a different kind... if something happens to use an ArrayList-specific method, that's extra work.
Of course, if you actually need ArrayList-specific behavior, you'd go with the specific variable type instead.
