SEGMENT REPORTING

12 Months Ended

Dec. 31, 2020

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

NOTE 15: SEGMENT REPORTING

We have four operating (and reportable) segments organized around our principal product lines: Aggregates, Asphalt, Concrete and Calcium. Management reviews earnings from these reporting segments principally at the gross profit level.

The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services. During 2020, the Aggregates segment principally served markets in twenty states, Washington D.C. and Mexico with a full line of aggregates, and thirteen additional states with railroad ballast. Customers use aggregates primarily in the construction and maintenance of highways, streets and other public works and in the construction of housing and commercial, industrial and other nonresidential facilities. Customers are served by truck, rail and water distribution networks from our production facilities and sales yards. Due to the high weight-to-value ratio of aggregates, markets generally are local in nature. Quarries located on waterways and rail lines allow us to serve remote markets where local aggregates reserves may not be available.

The Asphalt segment produces and sells asphalt mix in six states: Alabama, Arizona, California, New Mexico, Tennessee and Texas, and includes asphalt construction paving in three states: Alabama, Tennessee and Texas. We entered the Alabama asphalt market in 2018 through an acquisition (see Note 19).

The Concrete segment produces and sells ready-mixed concrete in four states: California, Maryland, Texas and Virginia, in addition to Washington D.C. In 2020 and 2018, we exited the New Mexico and Georgia ready-mixed concrete markets, respectively, through divestitures (see Note 19).

The Calcium segment consists of a Florida facility that mines, produces and sells calcium products.

Aggregates comprise approximately 95% of asphalt mix by weight and 80% of ready-mixed concrete by weight. Our Asphalt and Concrete segments are primarily supplied with their aggregates requirements from our Aggregates segment. These intersegment sales are made at local market prices for the particular grade and quality of product used in the production of asphalt mix and ready-mixed concrete. Customers for our Asphalt and Concrete segments are generally served locally at our production facilities or by truck. Because asphalt mix and ready-mixed concrete harden rapidly, delivery is time constrained and generally confined to a radius of approximately 20 to 25 miles from the producing facility.

The vast majority of our activities are domestic. We sell a relatively small amount of construction aggregates outside the United States. Total domestic revenues were $4,845,863,000 in 2020, $4,912,972,000 in 2019 and $4,365,309,000 in 2018. Nondomestic Aggregates segment revenues were $10,963,000 in 2020, $16,131,000 in 2019 and $17,560,000 in 2018; there were no significant nondomestic revenues in our Asphalt, Concrete or Calcium segments. Long-lived assets outside the United States, which consist primarily of property, plant & equipment, were $261,574,000 in 2020, $274,439,000 in 2019 and $278,520,000 in 2018. Equity method investments of $26,524,000 in 2020, $50,587,000 in 2019 and $39,395,000 in 2018 are included below in the identifiable assets for the Aggregates segment and in investments and long-term receivables on the accompanying Consolidated Balance Sheets.

SEGMENT FINANCIAL DISCLOSURE

in thousands	2020	2019	2018
Total Revenues
Aggregates 1	$      3,944,286	$      3,990,275	$      3,513,649
Asphalt 2	792,605	855,821	733,182
Concrete	383,617	395,627	401,999
Calcium	7,720	8,191	8,110
Segment sales	$      5,128,228	$      5,249,914	$      4,656,940
Aggregates intersegment sales	(271,402)	(320,811)	(274,071)
Total revenues	$      4,856,826	$      4,929,103	$      4,382,869
Gross Profit
Aggregates	$      1,159,178	$      1,146,649	$         991,858
Asphalt	75,233	63,023	56,480
Concrete	44,159	43,151	49,893
Calcium	2,911	3,078	2,714
Total	$      1,281,481	$      1,255,901	$      1,100,945
Depreciation, Depletion, Accretion & Amortization (DDA&A)
Aggregates	$         321,127	$         305,046	$         281,641
Asphalt	34,956	35,199	31,290
Concrete	16,010	13,620	12,539
Calcium	189	232	272
Other	24,524	20,499	20,504
Total	$         396,806	$         374,596	$         346,246
Capital Expenditures 3
Aggregates	$         331,893	$         383,406	$         422,175
Asphalt	19,803	9,095	38,154
Concrete	11,664	11,641	12,291
Calcium	0	31	22
Corporate	0	175	2,587
Total	$         363,360	$         404,348	$         475,229
Identifiable Assets 4
Aggregates	$      9,459,185	$      9,334,218	$      8,887,749
Asphalt	573,059	558,386	527,226
Concrete	305,523	325,102	266,581
Calcium	3,345	3,653	3,942
Total identifiable assets	$    10,341,112	$    10,221,359	$      9,685,498
General corporate assets	147,780	152,928	102,228
Cash and cash equivalents and restricted cash	1,198,013	274,506	44,404
Total assets	$    11,686,905	$    10,648,793	$      9,832,130

1	Includes product sales, as well as freight & delivery costs that we pass along to our customers, and service revenues (see Note 2) related to aggregates.
2	Includes product sales, as well as service revenues (see Note 2) from our asphalt construction paving business.
3	Capital expenditures include capitalized replacements of and additions to property, plant & equipment, including renewals and betterments. Capital expenditures exclude property, plant & equipment obtained by business acquisitions.
4	Certain temporarily idled assets are included within a segment's Identifiable Assets but the associated DDA&A is shown within Other in the DDA&A section above as the related DDA&A is excluded from segment gross profit.