v3.22.4
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]  
Employee Benefit Plans Employee Benefit Plans
 
Defined Contribution Plan—The Company sponsors employee 401(k) savings plans for its employees, including certain union employees. The plans provide for various required and discretionary Company matches of employees’ eligible compensation contributed to the plans. The expense for the defined contribution plans was $12.1 million, $10.9 million and $12.1 million for the years ended December 31, 2022, January 1, 2022 and January 2, 2021, respectively.
 
Defined Benefit and Other Postretirement Benefits Plans—The Company’s subsidiary, Continental Cement, sponsors two noncontributory defined benefit pension plans for hourly and salaried employees. The plans are closed to new participants and benefits are frozen. Pension benefits for eligible hourly employees are based on a monthly pension factor for each year of credited service. Pension benefits for eligible salaried employees are generally based on years of service and average eligible compensation. Continental Cement also sponsors two unfunded healthcare and life insurance benefits plans for certain eligible retired employees.

The funded status of the pension and other postretirement benefit plans is recognized in the consolidated balance sheets as the difference between the fair value of plan assets and the benefit obligations. For defined benefit pension plans, the benefit obligation is the projected benefit obligation (“PBO”) and for the healthcare and life insurance benefits plans, the benefit obligation is the accumulated postretirement benefit obligation (“APBO”). The PBO represents the actuarial present value of benefits expected to be paid upon retirement based on estimated future compensation levels. However, since the plans’ participants are not subject to future compensation increases, the plans’ PBO equals the accumulated benefit obligation (“ABO”). The APBO represents the actuarial present value of postretirement benefits attributed to employee services already rendered. The fair value of plan assets represents the current market value of assets held by an irrevocable trust fund for the sole benefit of participants. The measurement of the benefit obligations is based on the Company’s estimates and actuarial valuations. These valuations reflect the terms of the plan and use participant-specific information, such as compensation, age and years of service, as well as certain assumptions that require significant judgment, including estimates of discount rates, expected return on plan assets and mortality rates.
 
The Company uses December 31 as the measurement date for its defined benefit pension and other postretirement benefit plans.

Obligations and Funded Status—The following information is as of December 31, 2022 and January 1, 2022 and for the years ended December 31, 2022, January 1, 2022 and January 2, 2021:
 
 20222021
 PensionHealthcarePensionHealthcare
 benefits& Life Ins.benefits& Life Ins.
Change in benefit obligations:
Beginning of period$25,266 $9,790 $27,827 $9,229 
Service cost68 35 58 194 
Interest cost640 239 550 189 
Actuarial (gain) loss(5,360)(1,454)(1,594)1,143 
Change in plan provision— (2,014)— — 
Benefits paid(1,577)(1,025)(1,575)(965)
End of period$19,037 $5,571 $25,266 $9,790 
Change in fair value of plan assets:
Beginning of period$20,004 $— $19,058 $— 
Actual return on plan assets(1,606)— 1,304 — 
Employer contributions222 1,025 1,217 965 
Benefits paid(1,577)(1,025)(1,575)(965)
End of period$17,043 $— $20,004 $— 
Funded status of plans$(1,994)$(5,571)$(5,262)$(9,790)
Current liabilities$— $(484)$— $(723)
Noncurrent liabilities(1,994)(5,087)(5,262)(9,067)
Liability recognized$(1,994)$(5,571)$(5,262)$(9,790)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss $5,170 $1,919 $8,261 $3,591 
Prior service cost— (3,167)— (1,449)
Total amount recognized$5,170 $(1,248)$8,261 $2,142 

The amount recognized in accumulated other comprehensive income (“AOCI”) is the actuarial loss (gain) and prior service cost, which has not yet been recognized in periodic benefit cost.
 
 202220212020
 PensionHealthcarePensionHealthcarePensionHealthcare
 benefits & Life Ins.benefits& Life Ins.benefits& Life Ins.
Amounts recognized in other comprehensive (income) loss:
Net actuarial (gain) loss$(2,785)$(1,454)$(2,000)$1,143 $1,728 $675 
Prior service credit— (2,013)— — — — 
Amortization of prior year service credit— 296 — 241 — 241 
Amortization of loss(307)(218)(428)(259)(326)(89)
Total amount recognized$(3,092)$(3,389)$(2,428)$1,125 $1,402 $827 

The pension and postretirement healthcare and life programs experienced significant actuarial gains during the year ended December 31, 2022 due to the change in discount rate. This change was partially offset by lower than expected investment returns.
202220212020
PensionHealthcarePensionHealthcarePensionHealthcare
benefits & Life Ins.benefits& Life Ins.benefits& Life Ins.
Components of net periodic benefit cost:
Service cost$68 $35 $58 $194 $71 $176 
Interest cost640 239 550 189 733 242 
Amortization of loss307 218 428 259 326 89 
Expected return on plan assets(970)— (898)— (1,221)— 
Amortization of prior service credit— (296)— (241)— (241)
Net periodic benefit (expense) cost$45 $196 $138 $401 $(91)$266 
 
Assumptions—Weighted-average assumptions used to determine the benefit obligations as of year-end 2022 and 2021 are:
 20222021
        Healthcare        Healthcare
Pension benefits & Life Ins. Pension benefits & Life Ins. 
Discount rate    
5.16%
5.09%
2.63%
2.31%
Expected long-term rate of return on plan assets5.00%N/A5.00%N/A
 
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, 2022, January 1, 2022 and January 2, 2021:
 202220212020
        Healthcare        HealthcareHealthcare
Pension benefits & Life Ins.Pension benefits & Life Ins. Pension benefits & Life Ins. 
Discount rate    
2.63%
2.31%
2.04%
1.82%
2.90%
2.79%
Expected long-term rate of return on plan assets5.00%N/A5.00%N/A7.00%N/A
 
The expected long-term return on plan assets is based upon the Plans’ consideration of historical and forward-looking returns and the Company’s estimation of what a portfolio, with the target allocation described below, will earn over a long-term horizon. The discount rate is derived using the FTSE Above Median Pension Discount Curve.

The assumed health care cost trend rate for year end 2022 was 7.0% grading to 4.46% in 2042. As of year end 2021, the assumed trend rate was 7.0% grading to 4.75% in 2032. Assumed health care cost trend rates have a significant effect on the amounts reported for the Company’s healthcare and life insurance benefits plans.

Plan Assets—The defined benefit pension plans’ (the “Plans”) investment strategy is to minimize investment risk while generating acceptable returns. The Plans currently invest a relatively high proportion of the plan assets in fixed income securities, while the remainder is invested in equity securities, cash reserves and precious metals. The equity securities are diversified into funds with growth and value investment strategies. The target allocation for plan assets is as follows: equity securities—35%; fixed income securities—55%; cash reserves—5%; alternatives—4%; and precious metals—1%. The Plans’ current investment allocations are within the tolerance of the target allocation. The Company had no Level 3 investments as of or for the years ended December 31, 2022 and January 1, 2022.
 
At year-end 2022 and 2021, the Plans’ assets were invested predominantly in fixed-income securities and publicly traded equities, but may be invested in other asset classes in the future subject to the parameters of the investment policy. The Plans’ investments in fixed-income assets include U.S. Treasury and U.S. agency securities and corporate bonds. The Plans’ investments in equity assets include U.S. and international securities and equity funds. The Company estimates the fair value of the Plans’ assets using various valuation techniques and, to the extent available, quoted market prices in active markets or observable market inputs. The descriptions and fair value methodologies for the Plans’ assets are as follows:
 
Fixed Income Securities—Corporate and government bonds are classified as Level 2 assets, as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings.
 
Equity Securities—Equity securities are valued at the closing market price reported on a U.S. exchange where the security is actively traded and are therefore classified as Level 1 assets.
 
Cash—The carrying amounts of cash approximate fair value due to the short-term maturity.
 
Precious Metals—Precious metals are valued at the closing market price reported on a U.S. exchange where the security is actively traded and are therefore classified as Level 1 assets.

The fair value of the Plans’ assets by asset class and fair value hierarchy level as of December 31, 2022 and January 1, 2022 are as follows:
 
 2022
  Quoted prices in active 
 Total fairmarkets for identicalObservable
 valueassets (Level 1)inputs (Level 2)
Fixed income securities:            
Intermediate—government$4,849 $4,849 $— 
Intermediate—corporate2,754 — 2,754 
Short-term—government531 531 — 
Short-term—corporate538 — 538 
International836 — 836 
Equity securities:
U.S. Large cap value1,635 1,635 — 
U.S. Large cap growth997 997 — 
U.S. Mid cap value630 630 — 
U.S. Mid cap growth439 439 — 
U.S. Small cap value607 607 — 
U.S. Small cap growth422 422 — 
International745 — 745 
Emerging Markets740 740 — 
Commodities Broad Basket185 185 — 
Cash1,135 1,135 — 
Total$17,043 $12,170 $4,873 
 
 2021
  Quoted prices in active 
 Total fairmarkets for identicalObservable
 valueassets (Level 1)inputs (Level 2)
Fixed income securities:
Intermediate—government$3,412 $3,412 $— 
Intermediate—corporate4,424 — 4,424 
Short-term—government1,727 1,727 — 
Short-term—corporate79 — 79 
International821 — 821 
Equity securities:
U.S. Large cap value1,912 1,912 — 
U.S. Large cap growth1,330 1,330 — 
U.S. Mid cap value750 750 — 
U.S. Mid cap growth526 526 — 
U.S. Small cap value730 730 — 
U.S. Small cap growth491 491 — 
International1,188 396 792 
Emerging Markets374 374 — 
Commodities Broad Basket1,058 202 856 
Cash1,182 1,182 — 
Total$20,004 $13,032 $6,972 
 
Cash Flows—The Company does not expect to contribute to its pension plans during 2023 and expects to contribute $0.5 million to its postretirement healthcare and life insurance benefits plans.

The estimated benefit payments for each of the next five years and the five-year period thereafter are as follows:
 
 PensionHealthcare and Life
 benefitsInsurance Benefits
2023$1,698 $484 
20241,684 496 
20251,640 515 
20261,604 531 
20271,575 555 
2028 - 20327,215 2,560 
 
Multiemployer Pension Plans— In 2018, through an acquisition, the Company assumed an obligation to contribute to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The risks of participating in multiemployer pension plans are different from single-employer plans. Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. If a participating employer ceases contributing to the plan, the unfunded obligations of the plan are the responsibility of the remaining participating employers.

The Company's participation in these plans for the annual period ended December 31, 2022, is outlined in the table below. The ''EIN/Pension Plan Number" column provides the Employer Identification Number (EIN) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available in 2022 and 2021 is for the plan 's year end at December 31, 2022, and December 31, 2021, respectively. The zone status is based on information the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The "Surcharge Imposed" column indicates whether a surcharge has been imposed on contributions to the plan. The last column lists the expiration date(s) of the collective-
bargaining agreement(s) to which the plans are subject. There have been no significant changes that affect the comparability of 2022 and 2021 contributions.
Expiration Date of
Pension Protection ActFIP/RP StatusContributions of CompanyCollective-
PensionEIN/ PensionZone StatusPending/($ in thousands)SurchargeBargaining
Trust FundPlan Number20222021Implemented20222021ImposedAgreement
Construction Industry Laborers Pension Fund43-6060737/001Green - as of December 31, 2021Green - as of December 31, 2020None$108 $107 No3/31/2026
Operating Engineers Local 101 Pension Plan43-6059213/001Green - as of December 31, 2021Green - as of December 31, 2020None21 19 No3/31/2026
Total Contributions$129 $126 

The Company was not listed as providing more than 5% of the total contributions for the Operating Engineers Local 101 Pension Plan or the Construction Industry Laborers Pension Fund for the plan years 2022 and 2021 per the plans' Forms 5500. As of the date of the filing of this annual report on Form 10-K, Forms 5500 were not available for the plan year ending December 31, 2022.
Summit Materials, LLC  
Defined Benefit Plan Disclosure [Line Items]  
Employee Benefit Plans Employee Benefit Plans
 
Defined Contribution Plan—The Company sponsors employee 401(k) savings plans for its employees, including certain union employees. The plans provide for various required and discretionary Company matches of employees’ eligible compensation contributed to the plans. The expense for the defined contribution plans was $12.1 million, $10.9 million and $12.1 million for the years ended December 31, 2022, January 1, 2022 and January 2, 2021, respectively.
 
Defined Benefit and Other Postretirement Benefits Plans—The Company’s subsidiary, Continental Cement, sponsors two noncontributory defined benefit pension plans for hourly and salaried employees. The plans are closed to new participants and benefits are frozen. Pension benefits for eligible hourly employees are based on a monthly pension factor for each year of credited service. Pension benefits for eligible salaried employees are generally based on years of service and average eligible compensation. Continental Cement also sponsors two unfunded healthcare and life insurance benefits plans for certain eligible retired employees.
 
The funded status of the pension and other postretirement benefit plans is recognized in the consolidated balance sheets as the difference between the fair value of plan assets and the benefit obligations. For defined benefit pension plans, the benefit obligation is the projected benefit obligation (“PBO”) and for the healthcare and life insurance benefits plans, the benefit obligation is the accumulated postretirement benefit obligation (“APBO”). The PBO represents the actuarial present value of benefits expected to be paid upon retirement based on estimated future compensation levels. However, since the plans’ participants are not subject to future compensation increases, the plans’ PBO equals the accumulated benefit obligation (“ABO”). The APBO represents the actuarial present value of postretirement benefits attributed to employee services already rendered. The fair value of plan assets represents the current market value of assets held by an irrevocable trust fund for the sole benefit of participants. The measurement of the benefit obligations is based on the Company’s estimates and actuarial valuations. These valuations reflect the terms of the plan and use participant-specific information, such as compensation, age and years of service, as well as certain assumptions that require significant judgment, including estimates of discount rates, expected return on plan assets and mortality rates.

The Company uses December 31 as the measurement date for its defined benefit pension and other postretirement benefit plans.
 
Obligations and Funded Status—The following information is as of December 31, 2022 and January 1, 2022 and for the years ended December 31, 2022, January 1, 2022 and January 2, 2021: 
 
 20222021
PensionHealthcarePensionHealthcare
benefits& Life Ins.benefits& Life Ins.
Change in benefit obligations:
Beginning of period$25,266 $9,790 $27,827 $9,229 
Service cost68 35 58 194 
Interest cost640 239 550 189 
Actuarial (gain) loss(5,360)(1,454)(1,594)1,143 
Change in plan provision— (2,014)— — 
Benefits paid(1,577)(1,025)(1,575)(965)
End of period$19,037 $5,571 $25,266 $9,790 
Change in fair value of plan assets:
Beginning of period$20,004 $— $19,058 $— 
Actual return on plan assets(1,606)— 1,304 — 
Employer contributions222 1,025 1,217 965 
Benefits paid(1,577)(1,025)(1,575)(965)
End of period$17,043 $— $20,004 $— 
Funded status of plans$(1,994)$(5,571)$(5,262)$(9,790)
Current liabilities$— $(484)$— $(723)
Noncurrent liabilities(1,994)(5,087)(5,262)(9,067)
Liability recognized$(1,994)$(5,571)$(5,262)$(9,790)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss $5,170 $1,919 $8,261 $3,591 
Prior service cost— (3,167)— (1,449)
Total amount recognized$5,170 $(1,248)$8,261 $2,142 

The amount recognized in accumulated other comprehensive income is the actuarial loss (gain) and prior service cost, which has not yet been recognized in periodic benefit cost.
 
 202220212020
PensionHealthcarePensionHealthcarePensionHealthcare
benefits& Life Ins.benefits& Life Ins.benefits& Life Ins.
Amounts recognized in other comprehensive (income) loss:
Net actuarial (gain) loss$(2,785)$(1,454)$(2,000)$1,143 $1,728 $675 
Prior service credit— (2,013)— — — — 
Amortization of prior year service credit— 296 — 241 — 241 
Amortization of loss(307)(218)(428)(259)(326)(89)
Total amount recognized$(3,092)$(3,389)$(2,428)$1,125 $1,402 $827 
Components of net periodic benefit cost:
Service cost$68 $35 $58 $194 $71 $176 
Interest cost640 239 550 189 733 242 
Amortization of loss307 218 428 259 326 89 
Expected return on plan assets(970)— (898)— (1,221)— 
Amortization of prior service credit— (296)— (241)— (241)
Net periodic benefit (expense) cost$45 $196 $138 $401 $(91)$266 

The pension and postretirement healthcare and life programs experienced significant actuarial gains during the year ended December 31, 2022 due to the change in discount rate. This change was partially offset by lower than expected investment returns.
 
Assumptions—Weighted-average assumptions used to determine the benefit obligations as of year-end 2022 and 2021 are:
 20222021
HealthcareHealthcare
Pension benefits& Life Ins.Pension benefits& Life Ins.
Discount rate
5.16%
5.09%
2.63%
2.31%
Expected long-term rate of return on plan assets5.00%N/A5.00%N/A
 
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, 2022, January 1, 2022 and January 2, 2021:
 
 202220212020
HealthcareHealthcareHealthcare
Pension benefits& Life Ins.Pension benefits& Life Ins.Pension benefits& Life Ins.
Discount rate
2.63%
2.31%
2.04%
1.82%
2.90%
2.79%
Expected long-term rate of return on plan assets5.00%N/A5.00%N/A7.00%N/A
 
The expected long-term return on plan assets is based upon the Plans’ consideration of historical and forward-looking returns and the Company’s estimation of what a portfolio, with the target allocation described below, will earn over a long-term horizon. The discount rate is derived using the FTSE Above Median Pension Discount Curve.
 
The assumed health care cost trend rate for year end 2022 was 7.0% grading to 4.46% in 2042. As of year-end 2021, the assumed trend rate was 7.0% grading to 4.75% in 2032. Assumed health care cost trend rates have a significant effect on the amounts reported for the Company’s healthcare and life insurance benefits plans.
  
Plan Assets—The defined benefit pension plans’ (the “Plans”) investment strategy is to minimize investment risk while generating acceptable returns. The Plans currently invest a relatively high proportion of the plan assets in fixed income securities, while the remainder is invested in equity securities, cash reserves and precious metals. The equity securities are diversified into funds with growth and value investment strategies. The target allocation for plan assets is as follows: equity securities—35%; fixed income securities—55%; cash reserves—5%; alternatives—4%; and precious metals—1%. The Plans’
current investment allocations are within the tolerance of the target allocation. The Company had no Level 3 investments as of or for the years ended December 31, 2022 and January 1, 2022.
 
At year-end 2022 and 2021, the Plans’ assets were invested predominantly in fixed-income securities and publicly traded equities, but may be invested in other asset classes in the future subject to the parameters of the investment policy. The Plans’ investments in fixed-income assets include U.S. Treasury and U.S. agency securities and corporate bonds. The Plans’ investments in equity assets include U.S. and international securities and equity funds. The Company estimates the fair value of the Plans’ assets using various valuation techniques and, to the extent available, quoted market prices in active markets or observable market inputs. The descriptions and fair value methodologies for the Plans’ assets are as follows:
 
Fixed Income Securities—Corporate and government bonds are classified as Level 2 assets, as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings.
 
Equity Securities—Equity securities are valued at the closing market price reported on a U.S. exchange where the security is actively traded and are therefore classified as Level 1 assets.
 
Cash—The carrying amounts of cash approximate fair value due to the short-term maturity.
 
Precious Metals—Precious metals are valued at the closing market price reported on a U.S. exchange where the security is actively traded and are therefore classified as Level 1 assets.

The fair value of the Plans’ assets by asset class and fair value hierarchy level as of December 31, 2022 and January 1, 2022 are as follows:
 
 2022
  Quoted prices in active 
 Total fairmarkets for identicalObservable
 valueassets (Level 1)inputs (Level 2)
Fixed income securities:            
Intermediate—government$4,849 $4,849 $— 
Intermediate—corporate2,754 — 2,754 
Short-term—government531 531 — 
Short-term—corporate538 — 538 
International836 — 836 
Equity securities:
U.S. Large cap value1,635 1,635 — 
U.S. Large cap growth997 997 — 
U.S. Mid cap value630 630 — 
U.S. Mid cap growth439 439 — 
U.S. Small cap value607 607 — 
U.S. Small cap growth422 422 — 
International745 — 745 
Emerging Markets740 740 — 
Commodities Broad Basket185 185 — 
Cash1,135 1,135 — 
Total$17,043 $12,170 $4,873 
 
 
 2021
  Quoted prices in active 
 Total fairmarkets for identicalObservable
 valueassets (Level 1)inputs (Level 2)
Fixed income securities:   
Intermediate—government$3,412 $3,412 $— 
Intermediate—corporate4,424 — 4,424 
Short-term—government1,727 1,727 — 
Short-term—corporate79 — 79 
International821 — 821 
Equity securities:
U.S. Large cap value1,912 1,912 — 
U.S. Large cap growth1,330 1,330 — 
U.S. Mid cap value750 750 — 
U.S. Mid cap growth526 526 — 
U.S. Small cap value730 730 — 
U.S. Small cap growth491 491 — 
International1,188 396 792 
Emerging Markets374 374 — 
Commodities Broad Basket1,058 202 856 
Cash1,182 1,182 — 
Total$20,004 $13,032 $6,972 
 
Cash Flows—The Company does not expect to contribute to its pension plans during 2023 and expects to contribute $0.5 million to its postretirement healthcare and life insurance benefits plans.
    
The estimated benefit payments for each of the next five years and the five-year period thereafter are as follows:
 
 PensionHealthcare and Life
 benefitsInsurance Benefits
2023$1,698 $484 
20241,684 496 
20251,640 515 
20261,604 531 
20271,575 555 
2028 - 20327,215 2,560 

Multiemployer Pension Plans— In 2018, through an acquisition, the Company assumed an obligation to contribute to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The risks of participating in multiemployer pension plans are different from single-employer plans. Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. If a participating employer ceases contributing to the plan, the unfunded obligations of the plan are the responsibility of the remaining participating employers.

The Company's participation in these plans for the annual period ended December 31, 2022, is outlined in the table below. The ''EIN/Pension Plan Number" column provides the Employer Identification Number (EIN) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available in 2022 and 2021 is for the plan 's year end at December 31, 2022, and December 31, 2021, respectively. The zone status is based on information the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The "Surcharge Imposed" column indicates
whether a surcharge has been imposed on contributions to the plan. The last column lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject. There have been no significant changes that affect the comparability of 2022 and 2021 contributions.

Expiration Date of
Pension Protection ActFIP/RP StatusContributions of CompanyCollective-
PensionEIN/ PensionZone StatusPending/($ in thousands)SurchargeBargaining
Trust FundPlan Number20222021Implemented20222021ImposedAgreement
Construction Industry Laborers Pension Fund43-6060737/001Green - as of December 31, 2021Green - as of December 31, 2020None$108 $107 No3/31/2026
Operating Engineers Local 101 Pension Plan43-6059213/001Green - as of December 31, 2021Green - as of December 31, 2020None21 19 No3/31/2026
Total Contributions$129 $126 

The Company was not listed as providing more than 5% of the total contributions for the Operating Engineers Local 101 Pension Plan or the Construction Industry Laborers Pension Fund for the plan years 2022 and 2021 per the plans' Forms 5500. As of the date of the filing of this annual report on Form 10-K, Forms 5500 were not available for the plan year ending December 31, 2022.