SEGMENT REPORTING

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

Our operating segments are based on our internal management reporting structure. We continually assess our internal management reporting structure and the financial information evaluated by our Chief Operating Decision Maker (CODM) to determine whether any changes have occurred that would impact segment reporting. During the first quarter of 2024, we reorganized the financial information provided to our CODM to allocate resources and evaluate operating performance. As a result, we now report our calcium operation within our Aggregates reporting segment to align with our new reporting structure. All prior period segment information has been revised to conform to the current presentation. This change in our reporting segments had no impact on previously reported consolidated financial results.

We have three operating (and reportable) segments organized around our principal product lines: Aggregates, Asphalt and Concrete. The vast majority of our activities are domestic. We sell a relatively small amount of construction aggregates outside the United States. Our Asphalt and Concrete segments are primarily supplied with their aggregates requirements from our Aggregates segment. These intersegment sales are made at local market prices for the particular grade and quality of product used in the production of asphalt mix and ready-mixed concrete and are excluded from total revenues. Management reviews earnings from these reporting segments principally at the gross profit level.

SEGMENT FINANCIAL DISCLOSURE

	Three Months Ended March 31
in millions	2024		2023
Total Revenues
Aggregates 1	$	1,291.3	$	1,296.6
Asphalt 2	186.2		169.8
Concrete	148.3		285.1
Segment sales	$	1,625.8	$	1,751.5
Aggregates intersegment sales	(80.1)		(102.5)
Total revenues	$	1,545.7	$	1,649.0
Gross Profit
Aggregates	$	303.3	$	303.6
Asphalt	4.7		0.8
Concrete	(3.1)		(2.4)
Total	$	304.9	$	302.0
Depreciation, Depletion, Accretion and Amortization (DDA&A)
Aggregates	$	123.5	$	112.3
Asphalt	8.9		9.0
Concrete	12.3		20.4
Other	6.2		6.7
Total	$	150.9	$	148.4
Identifiable Assets 3, 4
Aggregates	$	11,816.8	$	11,507.0
Asphalt	630.6		608.4
Concrete	896.4		1,513.3
Total identifiable assets	$	13,343.8	$	13,628.7
General corporate assets	267.0		308.2
Cash and cash equivalents and restricted cash	300.1		140.0
Total assets	$	13,910.9	$	14,076.9

1Includes product sales (crushed stone, sand and gravel, sand and other aggregates), freight & delivery costs that we pass along to our customers, and service revenues (see Note 4) related to aggregates.

2Includes product sales as well as service revenues (see Note 4) from our asphalt construction paving business.

3Certain temporarily idled assets are included within a segment's Identifiable Assets, but the associated DDA&A is shown within Other in the DDA&A section above as the related DDA&A is excluded from segment gross profit.

4The decrease in Concrete Identifiable Assets is primarily due to the divestiture of concrete operations in Texas in November 2023 (see Note 16).