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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Total revenues [1] $ 1,322,575 $ 1,327,682 $ 2,371,817 $ 2,324,193
Cost of revenues 926,056 957,180 1,773,575 1,762,016
Gross profit 396,519 370,502 598,242 562,177
Selling, administrative and general expenses 91,205 95,689 177,635 185,957
Gain (loss) on sale of property, plant & businesses (258) 3,451 741 10,748
Other operating expense, net (6,160) (2,190) (10,151) (6,461)
Operating earnings 298,896 276,074 411,197 380,507
Other nonoperating income (expense), net 7,367 2,466 (1,969) 5,595
Interest expense, net 33,954 33,035 64,727 65,969
Earnings from continuing operations before income taxes 272,309 245,505 344,501 320,133
Income tax expense 61,352 47,598 73,546 58,291
Earnings from continuing operations 210,957 197,907 270,955 261,842
Loss on discontinued operations, net of tax (1,041) (349) (781) (985)
Net earnings 209,916 197,558 270,174 260,857
Other comprehensive income, net of tax        
Deferred loss on interest rate derivative 0 0 (14,679) 0
Amortization of prior interest rate derivative loss 194 56 988 111
Amortization of actuarial loss and prior service cost for benefit plans 1,695 336 3,390 571
Other comprehensive income (loss) 1,889 392 (10,301) 682
Comprehensive income $ 211,805 $ 197,950 $ 259,873 $ 261,539
Basic earnings (loss) per share        
Continuing operations $ 1.59 $ 1.50 $ 2.04 $ 1.98
Discontinued operations (0.01) (0.01) 0.00 (0.01)
Net earnings 1.58 1.49 2.04 1.97
Diluted earnings (loss) per share        
Continuing operations 1.58 1.48 2.03 1.97
Discontinued operations 0.00 0.00 0.00 (0.01)
Net earnings $ 1.58 $ 1.48 $ 2.03 $ 1.96
Weighted-average common shares outstanding        
Basic 132,552 132,269 132,560 132,157
Assuming dilution 133,115 133,354 133,154 133,199
Depreciation, depletion, accretion and amortization $ 99,470 $ 93,497 $ 194,951 $ 182,677
Effective tax rate from continuing operations 22.50% 19.40% 21.30% 18.20%
[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 and Texas

West market — Arizona, California and New Mexico