v3.25.2
SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Our operating segments are based on our internal management reporting structure. Our chief operating decision maker, the Chairman and Chief Executive Officer, evaluates our operating results through reportable segment gross profit. This financial metric is used to review operating trends, perform analytical comparisons between periods and monitor budget-to-actual variances on a monthly basis in order to assess performance and allocate resources.
We have three operating (and reportable) segments organized around our principal product lines: Aggregates, Asphalt and Concrete. The vast majority of our activities are domestic. We sell a relatively small amount of construction aggregates outside the United States. Our Asphalt and Concrete segments are primarily supplied with their aggregates requirements from our Aggregates segment. These intersegment sales are made at local market prices for the particular grade and quality of product used in the production of asphalt mix and ready-mixed concrete and are excluded from total revenues.
SEGMENT FINANCIAL DISCLOSURE
Three Months Ended
June 30		Six Months Ended
June 30
in millions2025202420252024
Total Revenues
Aggregates 1
$1,649.6 $1,613.5 $2,985.4 $2,904.9 
Asphalt 2
368.9 351.2 577.6 537.4 
Concrete220.6 167.3 397.7 315.5 
Segment sales$2,239.1 $2,132.0 $3,960.7 $3,757.8 
Aggregates intersegment sales(136.7)(117.6)(223.7)(197.7)
Total$2,102.4 $2,014.4 $3,737.0 $3,560.1 
Cost of Revenues
Aggregates$(953.4)$(967.4)$(1,844.8)$(1,875.4)
Asphalt(311.7)(292.2)(515.6)(473.7)
Concrete(212.1)(162.6)(386.1)(313.8)
Total$(1,477.2)$(1,422.2)$(2,746.5)$(2,662.9)
Gross Profit
Aggregates$559.5 $528.5 $916.9 $831.8 
Asphalt57.2 59.0 62.0 63.7 
Concrete8.5 4.7 11.6 1.7 
Total $625.2 $592.2 $990.5 $897.2 
Reconciliation to Pretax Earnings
Selling, administrative and general expenses$(144.5)$(134.1)$(282.7)$(263.8)
Other operating income (expense), net(9.7)(4.5)(10.4)(6.9)
Other nonoperating income (expense), net2.4 (8.7)(0.2)(8.9)
Interest expense, net(59.2)(40.2)(118.9)(79.3)
Earnings from continuing operations before income taxes$414.2 $404.7 $578.3 $538.3 
1Includes product sales (crushed stone, sand and gravel, sand and other aggregates), freight & delivery costs that we pass along to our customers, and service revenues (see Note 4) related to our aggregates business.
2Includes product sales as well as service revenues (see Note 4) from our asphalt construction paving business.
Three Months Ended
June 30		Six Months Ended
June 30
in millions2025202420252024
Depreciation, Depletion, Accretion and Amortization 1
Aggregates$144.3 $128.0 $294.7 $251.5 
Asphalt14.0 11.0 26.0 19.8 
Concrete19.0 11.9 34.5 24.1 
Other8.2 5.9 16.6 12.3 
Total$185.5 $156.8 $371.8 $307.7 
Capital Expenditures 2
Aggregates$88.3 $175.4 $179.6 $274.9 
Asphalt8.9 10.8 14.0 16.9 
Concrete0.1 3.6 6.9 5.7 
Corporate4.2 0.2 6.4 0.3 
Total$101.5 $190.0 $206.9 $297.8 
Identifiable Assets 3
Aggregates$14,441.4 $12,088.2 
Asphalt830.6 737.6 
Concrete1,025.2 903.6 
Total identifiable assets 4
$16,297.2 $13,729.4 
General corporate assets326.5 375.4 
Cash and cash equivalents and restricted cash351.0 111.6 
Total$16,974.7 $14,216.4 
1Depreciation, Depletion, Accretion & Amortization (DDA&A) for each segment is included in cost of revenues.
2Capital expenditures include changes in accruals for purchases of property, plant & equipment. Capital expenditures exclude property, plant & equipment obtained by business acquisitions.
3Certain temporarily idled assets are included within a segment's Identifiable Assets, but the associated DDA&A is shown within Other in the DDA&A section above as the related DDA&A is excluded from segment gross profit.
4The increase in total identifiable assets is primarily due to acquisitions completed in 2024 (see Note 16 for additional information).