SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2013

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 21: SUBSEQUENT EVENTS

On January 23, 2014, we entered into an agreement to sell our cement and concrete businesses in the Florida area to Cementos Argos for gross cash proceeds of $720,000,000. We will retain all of our aggregates operations in Florida. As part of the transaction, we have entered into a separate supply agreement to provide aggregates to the divested facilities, at market prices, for a period of 20 years. We will retain our Cement segment’s calcium operation in Brooksville, Florida, as well as real estate associated with certain former ready-mixed concrete facilities. As a result of our continuing involvement (supply agreement) and the retained assets, we will not report the dispositions as discontinued operations. The transaction, which is subject to regulatory approval under the Hart-Scott-Rodino Act and customary closing conditions, is expected to close in the first quarter of 2014.

Concurrent with the announcement of the transaction with Cementos Argos, we initiated a tender offer to purchase $500,000,000 of outstanding debt. Based on the results as of the early tender date, the expected note purchases are denominated as follows; $375,000,000 of 6.50% notes due in 2016 and$125,000,000 of 6.40% notes due in 2017. The tender offer is expected to settle in the first quarter of 2014 and is contingent on closing the transaction with Cementos Argos.