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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Total revenues [1] $ 1,361,047 $ 1,322,575 $ 2,429,391 $ 2,371,817
Cost of revenues 962,683 926,056 1,801,760 1,773,575
Gross profit 398,364 396,519 627,631 598,242
Selling, administrative and general expenses 100,667 91,205 189,260 177,635
Gain (loss) on sale of property, plant & equipment and businesses 211 (258) 117,376 741
Other operating expense, net (10,372) (6,160) (18,698) (10,151)
Operating earnings 287,536 298,896 537,049 411,197
Other nonoperating income (expense), net 8,223 7,367 14,136 (1,969)
Interest expense, net 41,696 33,954 74,814 64,727
Earnings from continuing operations before income taxes 254,063 272,309 476,371 344,501
Income tax expense 57,283 61,352 117,922 73,546
Earnings from continuing operations 196,780 210,957 358,449 270,955
Loss on discontinued operations, net of tax (1,436) (1,041) (2,491) (781)
Net earnings 195,344 209,916 355,958 270,174
Other comprehensive income (loss), net of tax        
Deferred loss on interest rate derivative 0 0 0 (14,679)
Amortization of prior interest rate derivative loss 360 194 716 988
Amortization of actuarial loss and prior service cost for benefit plans 1,235 1,695 2,470 3,390
Other comprehensive income (loss) 1,595 1,889 3,186 (10,301)
Comprehensive income $ 196,939 $ 211,805 $ 359,144 $ 259,873
Basic earnings (loss) per share        
Continuing operations $ 1.48 $ 1.59 $ 2.70 $ 2.04
Discontinued operations (0.01) (0.01) (0.02) 0.00
Net earnings 1.47 1.58 2.68 2.04
Diluted earnings (loss) per share        
Continuing operations 1.47 1.58 2.69 2.03
Discontinued operations (0.01) 0.00 (0.02) 0.00
Net earnings $ 1.46 $ 1.58 $ 2.67 $ 2.03
Weighted-average common shares outstanding        
Basic 132,781 132,552 132,765 132,560
Assuming dilution 133,507 133,115 133,455 133,154
Effective tax rate from continuing operations 22.50% 22.50% 24.80% 21.30%
[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