NOTE 14: GOODWILL

Goodwill is recognized when the consideration paid for a business combination (acquisition) exceeds the fair value of the tangible and identifiable intangible assets acquired. Goodwill is allocated to reporting units for purposes of testing goodwill for impairment. There were no charges for goodwill impairment in the nine month periods ended September 30, 2012 and 2011.

We have four reportable segments organized around our principal product lines: aggregates, concrete, asphalt mix and cement. Changes in the carrying amount of goodwill by reportable segment from December 31, 2011 to September 30, 2012 are summarized below:


GOODWILL in thousands	Aggregates		Concrete		Asphalt Mix		Cement			Total
Gross Carrying Amount
Total as of December 31, 2011		$2,995,083		$0		$91,633		$252,664			$3,339,380
Total as of September 30, 2012		$2,995,083		$0		$91,633		$252,664			$3,339,380
Accumulated Impairment Losses
Total as of December 31, 2011		$0		$0		$0		($252,664	)		($252,664	)
Total as of September 30, 2012		$0		$0		$0		($252,664	)		($252,664	)
Goodwill, net of Accumulated Impairment Losses
Total as of December 31, 2011		$2,995,083		$0		$91,633		$0			$3,086,716
Total as of September 30, 2012		$2,995,083		$0		$91,633		$0			$3,086,716

We test goodwill for impairment on an annual basis or more frequently if events or circumstances change in a manner that would more likely than not reduce the fair value of a reporting unit below its carrying value. While we have not identified any events or changes in circumstances that indicate the fair value of any of our reporting units is below its carrying value, the timing of a sustained recovery in the construction industry may have a significant effect on the fair value of our reporting units. A decrease in the estimated fair value of one or more of our reporting units could result in the recognition of a material, noncash write-down of goodwill.