XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Total revenues [1] $ 2,185.8 $ 2,088.3 $ 5,947.6 $ 5,583.3
Cost of revenues (1,594.8) (1,595.4) (4,471.3) (4,375.5)
Gross profit 591.0 492.9 1,476.3 1,207.8
Selling, administrative and general expenses (143.9) (135.3) (400.4) (388.7)
Gain on sale of property, plant & equipment and businesses 4.3 23.8 22.8 28.4
Loss on impairments (28.3) (67.8) (28.3) (67.8)
Other operating expense, net (4.2) (8.2) (13.1) (19.8)
Operating earnings 418.9 305.4 1,057.3 759.9
Other nonoperating income (expense), net (6.4) 1.3 (5.3) (1.7)
Interest expense, net (46.6) (46.1) (142.2) (120.8)
Earnings from continuing operations before income taxes 365.9 260.6 909.8 637.4
Income tax expense (85.8) (82.3) (194.4) (164.6)
Earnings from continuing operations 280.1 178.3 715.4 472.8
Loss on discontinued operations, net of tax (2.8) (1.2) (8.6) (16.1)
Net earnings 277.3 177.1 706.8 456.7
Earnings attributable to noncontrolling interest (0.8) (0.0) (1.0) (0.5)
Net earnings attributable to Vulcan 276.5 177.1 705.8 456.2
Other comprehensive income, net of tax        
Amortization of prior cash flow hedge loss 0.4 0.4 1.2 1.1
Amortization of actuarial loss and prior service cost for benefit plans 1.3 0.7 3.8 2.2
Other comprehensive income 1.7 1.1 5.0 3.3
Comprehensive income 279.0 178.2 711.8 460.0
Comprehensive earnings attributable to noncontrolling interest (0.8) (0.0) (1.0) (0.5)
Comprehensive income attributable to Vulcan $ 278.2 $ 178.2 $ 710.8 $ 459.5
Basic earnings (loss) per share attributable to Vulcan        
Continuing operations $ 2.10 $ 1.34 $ 5.37 $ 3.55
Discontinued operations (0.02) (0.01) (0.07) (0.12)
Net earnings 2.08 1.33 5.30 3.43
Diluted earnings (loss) per share attributable to Vulcan        
Continuing operations 2.09 1.33 5.34 3.54
Discontinued operations (0.02) 0.00 (0.06) (0.12)
Net earnings $ 2.07 $ 1.33 $ 5.28 $ 3.42
Weighted-average common shares outstanding        
Basic 133.0 133.0 133.1 133.0
Assuming dilution 133.7 133.6 133.7 133.6
Effective tax rate from continuing operations 23.40% 31.60% 21.40% 25.80%
[1]

1

The geographic markets are defined by states/countries as follows:

East market - Arkansas, Delaware, Illinois, Kentucky, Maryland, New Jersey, New York, North Carolina, Pennsylvania,
Tennessee, Virginia and Washington D.C.

Gulf Coast market - Alabama, Florida, Georgia, Louisiana, Mississippi, Oklahoma, South Carolina, Texas, U.S. Virgin
Islands, Freeport (Bahamas), Puerto Cortés (Honduras) and Quintana Roo (Mexico)

West market - Arizona, California, Hawaii, New Mexico and British Columbia (Canada)