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Segments (Tables)
3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Financial Data for Continuing Operation for Company's Reportable Business Segments

The following table displays 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, which represent sales from one segment to another segment. Total revenues and earnings (loss) from operations reflect continuing operations only.

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2024

 

 

2023

 

 

 

(Dollars in Millions)

 

Total revenues:

 

 

 

 

 

 

East Group

 

$

526

 

 

$

530

 

West Group

 

 

644

 

 

 

741

 

Total Building Materials business

 

 

1,170

 

 

 

1,271

 

Magnesia Specialties

 

 

81

 

 

 

83

 

Total

 

$

1,251

 

 

$

1,354

 

 

 

 

 

 

 

 

Earnings (Loss) from operations:

 

 

 

 

 

 

East Group

 

$

128

 

 

$

109

 

West Group

 

 

1,299

 

 

 

95

 

Total Building Materials business

 

 

1,427

 

 

 

204

 

Magnesia Specialties

 

 

24

 

 

 

20

 

Total reportable segments

 

 

1,451

 

 

 

224

 

Corporate

 

 

(30

)

 

 

(28

)

Consolidated earnings from operations

 

 

1,421

 

 

 

196

 

Interest expense

 

 

40

 

 

 

42

 

Other nonoperating income, net

 

 

(33

)

 

 

(17

)

Consolidated earnings from continuing
   operations before income tax expense

 

$

1,414

 

 

$

171

 

Earnings from operations for the West Group for 2024 included a $1.3 billion gain on the divestiture of the South Texas cement business and certain of its related ready mixed concrete operations and a noncash asset and portfolio rationalization charge of $49 million.

 

 

 

March 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

 

(Dollars in Millions)

 

Assets employed:

 

 

 

 

 

 

East Group

 

$

5,198

 

 

$

5,131

 

West Group

 

 

7,383

 

 

 

7,697

 

Total Building Materials business

 

 

12,581

 

 

 

12,828

 

Magnesia Specialties

 

 

252

 

 

 

250

 

Total reportable segments

 

 

12,833

 

 

 

13,078

 

Corporate

 

 

3,407

 

 

 

2,047

 

Total

 

$

16,240

 

 

$

15,125

 

The increase in C