Acquisitions and Divestitures

3 Months Ended

Mar. 31, 2012

Acquisitions and Divestitures [Abstract]

ACQUISITIONS AND DIVESTITURES

NOTE 13: ACQUISITIONS AND DIVESTITURES

During the first quarter of 2011, we acquired ten ready-mixed concrete facilities for 432,407 shares of common stock valued at the closing date price of $42.85 per share (total consideration of $18,529,000 net of acquired cash). We issued 372,992 shares to the seller at closing and retained the remaining shares to fulfill certain working capital adjustments and indemnification obligations. As a result of this acquisition, we recognized $6,419,000 of amortizable intangible assets, none of which is expected to be deductible for income tax purposes. The amortizable intangible assets consist of contractual rights in place and are amortized over an estimated weighted-average period of 20 years.

As of the end of the second quarter of 2011, we determined that the sale of an aggregates facility and a ready-mixed concrete facility located outside the United States would not close within the next twelve months. Thus, these assets no longer meet the criteria for classification as held for sale. The property, plant & equipment of these foreign facilities was measured at the lower of fair value or carrying amount adjusted to recapture suspended depreciation. The accompanying Condensed Consolidated Balance Sheets reflect our assets held for sale and liabilities of assets held for sale as of March 31, 2012, and as of December 31, 2011 and March 31, 2011 (facilities located outside the United States) as follows:

in thousands	March 31 2012		December 31 2011		March 31 2011
Held for Sale
Current assets		$0		$0		$3,429
Property, plant & equipment, net		0		0		9,737
Other assets		0		0		115
Total assets held for sale		$0		$0		$13,281
Current liabilities		$0		$0		$356
Total liabilities of assets held for sale		$0		$0		$356