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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]    
Total revenues [1] $ 1,068,344 $ 1,049,242
Cost of revenues 839,077 847,519
Gross profit 229,267 201,723
Selling, administrative and general expenses 88,593 86,430
Gain on sale of property, plant & equipment and businesses 117,165 999
Other operating expense, net (8,326) (3,991)
Operating earnings 249,513 112,301
Other nonoperating income (expense), net 5,913 (9,336)
Interest expense, net 33,118 30,773
Earnings from continuing operations before income taxes 222,308 72,192
Income tax expense 60,638 12,194
Earnings from continuing operations 161,670 59,998
Earnings (loss) on discontinued operations, net of tax (1,056) 260
Net earnings 160,614 60,258
Other comprehensive income (loss), net of tax    
Deferred loss on interest rate derivative 0 (14,680)
Amortization of prior interest rate derivative loss 356 794
Amortization of actuarial loss and prior service cost for benefit plans 1,235 1,695
Other comprehensive income (loss) 1,591 (12,191)
Comprehensive income $ 162,205 $ 48,067
Basic earnings (loss) per share    
Continuing operations $ 1.22 $ 0.45
Discontinued operations (0.01) 0.00
Net earnings 1.21 0.45
Diluted earnings (loss) per share    
Continuing operations 1.21 0.45
Discontinued operations (0.01) 0.00
Net earnings $ 1.20 $ 0.45
Weighted-average common shares outstanding    
Basic 132,749 132,567
Assuming dilution 133,415 133,259
Effective tax rate from continuing operations 27.30% 16.90%
[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