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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Total revenues [1] $ 1,516,506 $ 1,309,890 $ 3,945,897 $ 3,681,707
Cost of revenues 1,122,445 929,392 2,924,206 2,702,967
Gross profit 394,061 380,498 1,021,691 978,740
Selling, administrative and general expenses 103,792 83,511 293,052 261,146
Gain on sale of property, plant & equipment and businesses 2,940 1,576 120,316 2,317
Other operating expense, net (30,843) (10,459) (49,541) (20,610)
Operating earnings 262,366 288,104 799,414 699,301
Other nonoperating income, net 3,152 5,787 17,288 3,818
Interest expense, net 36,776 35,782 111,589 100,509
Earnings from continuing operations before income taxes 228,742 258,109 705,113 602,610
Income tax expense 51,770 56,984 169,692 130,530
Earnings from continuing operations 176,972 201,125 535,421 472,080
Loss on discontinued operations, net of tax (212) (1,337) (2,702) (2,118)
Net earnings 176,760 199,788 532,719 469,962
Loss attributable to noncontrolling interest 146 0 146 0
Net earnings attributable to Vulcan 176,906 199,788 532,865 469,962
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 364 350 1,080 1,338
Amortization of actuarial loss and prior service cost for benefit plans 1,235 1,695 3,705 5,085
Other comprehensive income (loss) 1,599 2,045 4,785 (8,256)
Comprehensive income 178,359 201,833 537,504 461,706
Comprehensive loss attributable to noncontrolling interest 146 0 146 0
Comprehensive income attributable to Vulcan $ 178,505 $ 201,833 $ 537,650 $ 461,706
Basic earnings (loss) per share attributable to Vulcan        
Continuing operations $ 1.33 $ 1.52 $ 4.03 $ 3.56
Discontinued operations 0.00 (0.01) (0.02) (0.01)
Net earnings 1.33 1.51 4.01 3.55
Diluted earnings (loss) per share attributable to Vulcan        
Continuing operations 1.33 1.51 4.01 3.54
Discontinued operations (0.01) (0.01) (0.02) (0.01)
Net earnings $ 1.32 $ 1.50 $ 3.99 $ 3.53
Weighted-average common shares outstanding        
Basic 132,810 132,573 132,780 132,564
Assuming dilution 133,544 133,268 133,480 133,192
Effective tax rate from continuing operations 22.60% 22.10% 24.10% 21.70%
[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, Mississippi, Oklahoma, Quintana Roo (Mexico), South Carolina and Texas

West market — Arizona, California and New Mexico

U.S. Concrete — British Columbia (Canada), California, Hawaii, New Jersey, New York, Oklahoma, Pennsylvania, Texas, the U.S. Virgin Islands, and Washington D.C.