v3.26.1
ACQUISITIONS
 12 Months Ended
Mar. 31, 2026
Business Combination [Abstract]  
ACQUISITIONS

(B) ACQUISITIONS

Western Pennsylvania Acquisition

On January 7, 2025, we purchased Bullskin Stone & Lime, LLC, an aggregates business located in Western Pennsylvania (the Western Pennsylvania Acquisition), which was accounted for under the acquisition method. The purchase price of the Pennsylvania Acquisition was approximately $149.9 million, subject to customary post-closing adjustments. The purchase price was funded through

borrowings under our Revolving Credit Facility. Operations related to the Pennsylvania Acquisition are included in the Concrete and Aggregates segment of our segment reporting.

The following table summarizes the allocation of the purchase price to the fair value of assets acquired and liabilities assumed (based on Level 3 inputs) as of March 31, 2026.

 

 

 

 

 

 

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Receivable

 

$

 

1,443

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventories

 

 

 

3,354

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepaid and Other Current Assets

 

 

 

229

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, Plant, and Equipment

 

 

 

35,097

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible Assets

 

 

 

38,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Payable and Accrued Liabilities

 

 

 

(327

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Long-Term Liabilities

 

 

 

(792

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Net Assets Acquired

 

 

 

77,604

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

 

72,343

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Purchase Price

 

$

 

149,947

 

 

 

 

 

 

 

 

 

The estimated useful lives assigned to Property, Plant, and Equipment range from 5 to 30 years. Goodwill represents the excess purchase price over the fair value of the assets acquired and the liabilities assumed. The Goodwill was generated by the availability of co-product sales and the opportunity associated with the expansion of our Aggregates business to the Western Pennsylvania region of the United States. All Goodwill generated from the Western Pennsylvania Acquisition is deductible for income tax purposes.

The following table is a summary of the fair value estimates of the identifiable intangible assets and their weighted-average useful lives.

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average Life

 

 

Estimated Fair Value
(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer Relationships

 

 

15

 

 

 

 

38,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade Name and Technology

 

 

5

 

 

 

 

500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Intangible Assets

 

 

 

 

$

 

38,600

 

 

 

 

 

 

 

 

 

 

The following table presents the Revenue and Operating Earnings related to the Western Pennsylvania Acquisition that has been included in our Consolidated Statement of Earnings for the fiscal year ended March 31, 2026.

 

 

 

For the Year Ended March 31, 2026

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

 

28,612

 

 

 

 

 

 

 

 

 

 

 

Operating Earnings

 

$

 

5,377

 

 

 

 

 

 

Included in Operating Earnings shown above is approximately $6.7 million related to depreciation and amortization.