EQUITY

9 Months Ended

Sep. 30, 2023

EQUITY [Abstract]

EQUITY

Note 12: Equity

Our capital stock consists solely of common stock, par value $1.00 per share, of which 480,000,000 shares may be issued. Holders of our common stock are entitled to one vote per share. We may also issue 5,000,000 shares of preferred stock, but no shares have been issued. The terms and provisions of such shares will be determined by our Board of Directors upon any issuance of preferred shares in accordance with our Certificate of Incorporation.

There were no shares held in treasury as of September 30, 2023, December 31, 2022 and September 30, 2022.

Our common stock purchases (all of which were open market purchases) and subsequent retirements for the year-to-date periods ended are as follows:

	September 30	December 31	September 30
in millions, except average cost	2023	2022	2022
Shares Purchased and Retired
Number	0.2	0.0	0.0
Total purchase price 1	$          49.9	$            0.0	$            0.0
Average cost per share	$      206.82	$          0.00	$          0.00

¹ The amount paid to purchase shares in excess of the par value is recorded in retained earnings. 

As of September 30, 2023, 7,823,488 shares may be purchased under the current authorization of our Board of Directors.

Changes in total equity are summarized below:

	Three Months Ended		Nine Months Ended
	September 30		September 30
in millions, except per share data	2023	2022	2023	2022
Total Shareholders' Equity
Balance at beginning of period	$      7,202.6	$      6,721.1	$      6,928.6	$      6,545.0
Net earnings attributable to Vulcan	276.5	177.1	705.8	456.2
Common stock issued
Share-based compensation plans, net of shares
withheld for taxes	(2.2)	(0.1)	(20.8)	(17.2)
Purchase and retirement of common stock	0.0	0.0	(49.9)	0.0
Share-based compensation expense	19.2	9.7	43.5	27.9
Cash dividends on common stock
($0.43/$0.40/$1.29/$1.20 per share, respectively)	(57.2)	(53.2)	(171.6)	(159.5)
Other comprehensive income	1.7	1.1	5.0	3.3
Balance at end of period	$      7,440.6	$      6,855.7	$      7,440.6	$      6,855.7
Noncontrolling Interest
Balance at beginning of period	$           23.8	$           23.1	$           23.6	$           22.7
Earnings attributable to noncontrolling interest	0.8	0.1	1.0	0.5
Balance at end of period	$           24.6	$           23.2	$           24.6	$           23.2
Total Equity
Balance at end of period	$      7,465.2	$      6,878.9	$      7,465.2	$      6,878.9