v3.26.1
BUSINESS COMBINATIONS, DIVESTITURES, DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination [Abstract]  
Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following is a summary of the preliminary estimated fair values of the assets acquired and liabilities assumed as of February 23, 2026:

 

(in millions)

 

 

 

Assets:

 

 

 

Cash

 

$

470

 

Inventories

 

 

109

 

Property, plant and equipment 1

 

 

2,493

 

Intangible assets, other than goodwill

 

 

45

 

Other assets

 

 

18

 

Total assets

 

 

3,135

 

Liabilities:

 

 

 

Deferred income taxes

 

 

84

 

Asset retirement obligations

 

 

13

 

Other liabilities

 

 

60

 

Total liabilities

 

 

157

 

Net identifiable assets acquired

 

 

2,978

 

Goodwill

 

 

197

 

Total consideration

 

$

3,175

 

 

1 Includes mineral reserves of $2.1 billion.
Summary of Unaudited Pro Forma Financial Information

The following pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place as of January 1, 2025:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(in millions)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenues

 

$

1,947

 

 

$

1,732

 

 

$

3,359

 

 

$

2,966

 

Net earnings from continuing operations
attributable to Martin Marietta

 

$

291

 

 

$

315

 

 

$

398

 

 

$

362

 

 
Summary of Discontinued Operations and Assets and Liabilities Held for Sale

Financial results for the Company's discontinued operations are as follows:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(in millions)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenues

 

$

—

 

 

$

202

 

 

$

108

 

 

$

393

 

Cost of revenues

 

 

1

 

 

 

154

 

 

 

100

 

 

 

325

 

Gross (loss) profit

 

$

(1

)

 

$

48

 

 

$

8

 

 

$

68

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax (loss) earnings from operations

 

$

(6

)

 

$

46

 

 

$

(13

)

 

$

61

 

Pretax (loss) gain on divestiture

 

 

(1

)

 

 

—

 

 

 

1,962

 

 

 

—

 

Pretax (loss) earnings

 

 

(7

)

 

 

46

 

 

 

1,949

 

 

 

61

 

Income tax (benefit) expense

 

 

(2

)

 

 

10

 

 

 

521

 

 

 

13

 

(Loss) Earnings from discontinued operations,
net of income tax (benefit) expense

 

$

(5

)

 

$

36

 

 

$

1,428

 

 

$

48

 

 

Cash flow information for the Company's discontinued operations is as follows:

 

 

Six Months Ended

 

 

 

June 30,

 

(in millions)

 

2026

 

 

2025

 

Net cash (used for) provided by operating activities

 

$

(67

)

 

$

80

 

 

 

 

 

 

 

 

Additions to property, plant and equipment

 

$

(18

)

 

$

(57

)

Proceeds from divestitures and sales of assets

 

 

450

 

 

 

2

 

Net cash provided by (used for) investing activities

 

$

432

 

 

$

(55

)

Net cash used for financing activities

 

$

—

 

 

$

(3

)

Assets and liabilities held for sale are as follows:

 

 

Continuing Operations

 

 

Continuing Operations

 

 

Discontinued Operations

 

 

Total

 

(in millions)

 

June 30, 2026

 

 

December 31, 2025

 

Inventories, net

 

$

—

 

 

$

—

 

 

$

98

 

 

$

98

 

Investment land

 

 

6

 

 

 

11

 

 

 

—

 

 

 

11

 

Property, plant and equipment

 

 

—

 

 

 

—

 

 

 

486

 

 

 

486

 

Goodwill

 

 

—

 

 

 

—

 

 

 

374

 

 

 

374

 

Intangible assets, excluding goodwill

 

 

—

 

 

 

—

 

 

 

249

 

 

 

249

 

Operating lease right-of-use assets

 

 

—

 

 

 

—

 

 

 

10

 

 

 

10

 

Other assets

 

 

—

 

 

 

—

 

 

 

2

 

 

 

2

 

Total current assets held for sale

 

$

6

 

 

$

11

 

 

$

1,219

 

 

$

1,230

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease obligations

 

$

—

 

 

$

—

 

 

$

22

 

 

$

22

 

Other liabilities

 

 

—

 

 

 

—

 

 

 

12

 

 

 

12

 

Total current liabilities held for sale

 

$

—

 

 

$

—

 

 

$

34

 

 

$

34