NOTE 15: 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 three month periods ended March 31, 2013 and 2012.

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, 2012 to March 31, 2013 are summarized below:

GOODWILL


in thousands	Aggregates		Concrete		Asphalt Mix		Cement		Total
Gross Carrying Amount
Total as of December 31, 2012		$2,995,083		$0		$91,633		$252,664		$3,339,380
Goodwill of acquired businesses ¹		9,759		0		0		0		9,759
Goodwill of divested businesses ¹		(674)		0		0		0		(674)
Total as of March 31, 2013		$3,004,168		$0		$91,633		$252,664		$3,348,465
Accumulated Impairment Losses
Total as of December 31, 2012		$0		$0		$0		($252,664)		($252,664)
Total as of March 31, 2013		$0		$0		$0		($252,664)		($252,664)
Goodwill, net of Accumulated Impairment Losses
Total as of December 31, 2012		$2,995,083		$0		$91,633		$0		$3,086,716
Total as of March 31, 2013		$3,004,168		$0		$91,633		$0		$3,095,801

The goodwill of acquired/divested businesses relates to the 2013 acquisitions/divestitures discussed in Note 16.

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. 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.