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Segments
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segments

Note P: Segments

As of December 31, 2022, the Building Materials business is comprised of four divisions that represent individual operating segments. These operating segments are consolidated into two reportable segments, the East Group and the West Group, for financial reporting purposes as they meet the aggregation criteria. The Magnesia Specialties business represents an individual operating and reportable segment. The accounting policies used for segment reporting are the same as those described in Note A.

The Chief Operating Decision Maker’s evaluation of performance and allocation of resources are based primarily on earnings from operations. Consolidated earnings from operations include total revenues less cost of revenues; selling, general and administrative expenses; acquisition and integration expenses; other operating income and expenses, net; and exclude interest expense; other nonoperating income and expenses, net; and income tax expense. Corporate loss from operations primarily includes depreciation; expenses for corporate administrative functions; acquisition and integration expenses; and other nonrecurring income and expenses not attributable to operations of the Company's other operating segments. All long-term debt and related interest expense are held at Corporate.

Assets employed by segment include assets directly identified with those operations. Corporate assets consist primarily of cash, cash equivalents and restricted cash; property, plant and equipment for corporate operations; restricted investments; and other assets not directly identifiable with a reportable segment.

The following tables display selected financial data for the Company’s reportable segments. Total revenues, as presented on the consolidated statements of earnings and comprehensive earnings, reflect the elimination of intersegment revenues. Total revenues and earnings (loss) from operations reflect continuing operations only.

 

years ended December 31
(in millions)

Total revenues

 

2022

 

 

2021

 

 

2020

 

East Group

 

$

2,468.1

 

 

$

2,303.0

 

 

$

1,949.1

 

West Group

 

 

3,388.6

 

 

 

2,812.3

 

 

 

2,538.1

 

Total Building Materials business

 

 

5,856.7

 

 

 

5,115.3

 

 

 

4,487.2

 

Magnesia Specialties

 

 

304.0

 

 

 

298.7

 

 

 

242.7

 

Total

 

$

6,160.7

 

 

$

5,414.0

 

 

$

4,729.9

 

 

years ended December 31
(in millions)
Earnings (Loss) from operations

 

2022

 

 

2021

 

 

2020

 

East Group

 

$

640.2

 

 

$

621.7

 

 

$

522.1

 

West Group

 

 

588.1

 

 

 

385.2

 

 

 

471.3

 

Total Building Materials business

 

 

1,228.3

 

 

 

1,006.9

 

 

 

993.4

 

Magnesia Specialties

 

 

75.2

 

 

 

90.8

 

 

 

70.7

 

Corporate

 

 

(96.8

)

 

 

(123.9

)

 

 

(58.7

)

Total

 

$

1,206.7

 

 

$

973.8

 

 

$

1,005.4

 

Earnings from operations for the West Group included a nonrecurring gain on divestiture of $151.9 million in 2022 and nonrecurring gains on sales of investment land and divested assets of $69.9 million in 2020.

 

December 31
(in millions)
Assets employed

 

2022

 

 

2021

 

 

2020

 

East Group

 

$

5,063.5

 

 

$

5,009.0

 

 

$

4,342.5

 

West Group

 

 

7,908.4

 

 

 

8,264.8

 

 

 

5,355.5

 

Total Building Materials business

 

 

12,971.9

 

 

 

13,273.8

 

 

 

9,698.0

 

Magnesia Specialties

 

 

192.1

 

 

 

168.7

 

 

 

167.9

 

Corporate

 

 

1,829.6

 

 

 

950.5

 

 

 

714.9

 

Total

 

$

14,993.6

 

 

$

14,393.0

 

 

$

10,580.8

 

 

years ended December 31
(in millions)
Depreciation, depletion and amortization

 

2022

 

 

2021

 

 

2020

 

East Group

 

$

210.4

 

 

$

196.0

 

 

$

167.9

 

West Group

 

 

260.6

 

 

 

223.0

 

 

 

196.6

 

Total Building Materials business

 

 

471.0

 

 

 

419.0

 

 

 

364.5

 

Magnesia Specialties

 

 

12.2

 

 

 

12.3

 

 

 

11.5

 

Corporate

 

 

22.8

 

 

 

20.4

 

 

 

17.5

 

Total

 

$

506.0

 

 

$

451.7

 

 

$

393.5

 

 

Total property additions, including the impact of acquisitions

 

 

 

 

 

 

 

 

 

East Group

 

$

189.1

 

 

$

372.9

 

 

$

159.0

 

West Group

 

 

302.2

 

 

 

1,131.6

 

 

 

197.9

 

Total Building Materials business

 

 

491.3

 

 

 

1,504.5

 

 

 

356.9

 

Magnesia Specialties

 

 

32.0

 

 

 

8.2

 

 

 

13.5

 

Corporate

 

 

21.1

 

 

 

28.8

 

 

 

16.8

 

Total

 

$

544.4

 

 

$

1,541.5

 

 

$

387.2

 

 

Property additions through acquisitions

 

 

 

 

 

 

 

 

 

East Group

 

$

 

 

$

169.2

 

 

$

 

West Group

 

 

2.5

 

 

 

918.3

 

 

 

20.0

 

Total Building Materials business

 

 

2.5

 

 

 

1,087.5

 

 

 

20.0

 

Magnesia Specialties

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

Total

 

$

2.5

 

 

$

1,087.5

 

 

$

20.0