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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Total revenues [1] $ 1,418,758 $ 1,240,197 $ 3,742,951 $ 3,294,822
Cost of revenues 1,018,115 897,055 2,780,131 2,469,161
Gross profit 400,643 343,142 962,820 825,661
Selling, administrative and general expenses 88,789 81,606 274,747 248,989
Gain on sale of property, plant & equipment and businesses 234 2,104 10,982 8,374
Other operating expense, net (8,712) (14,456) (15,173) (23,822)
Operating earnings 303,376 249,184 683,882 561,224
Other nonoperating income, net 359 4,890 5,954 12,708
Interest expense, net 32,197 33,547 98,165 104,566
Earnings from continuing operations before income taxes 271,538 220,527 591,671 469,366
Income tax expense 53,472 40,663 111,764 75,805
Earnings from continuing operations 218,066 179,864 479,907 393,561
Loss on discontinued operations, net of tax (2,353) (713) (3,338) (1,778)
Net earnings 215,713 179,151 476,569 391,783
Other comprehensive income, net of tax        
Deferred gain on interest rate derivative 0 0 0 2,496
Amortization of prior interest rate derivative loss 57 53 169 171
Amortization of actuarial loss and prior service cost for benefit plans 286 1,091 856 3,274
Other comprehensive income 343 1,144 1,025 5,941
Comprehensive income $ 216,056 $ 180,295 $ 477,594 $ 397,724
Basic earnings (loss) per share        
Continuing operations $ 1.65 $ 1.36 $ 3.63 $ 2.97
Discontinued operations (0.02) (0.01) (0.03) (0.01)
Net earnings 1.63 1.35 3.60 2.96
Diluted earnings (loss) per share        
Continuing operations 1.63 1.34 3.60 2.94
Discontinued operations (0.01) 0.00 (0.02) (0.02)
Net earnings $ 1.62 $ 1.34 $ 3.58 $ 2.92
Weighted-average common shares outstanding        
Basic 132,414 132,392 132,244 132,505
Assuming dilution 133,375 133,894 133,273 134,079
Depreciation, depletion, accretion and amortization $ 96,247 $ 89,390 $ 278,925 $ 256,463
Effective tax rate from continuing operations 19.70% 18.40% 18.90% 16.20%
[1]

1

The geographic markets are defined by states/countries as follows:

East market — Arkansas, Delaware, Illinois, Kentucky, Maryland, North Carolina, Pennsylvania, Tennessee, Virginia, and Washington D.C.

Gulf Coast marketAlabama, Florida, Georgia, Louisiana, Mexico, Mississippi, Oklahoma, South Carolina, Texas and the Bahamas

West market — Arizona, California and New Mexico