Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2014

Changes in Accumulated Other Comprehensive Earnings, Net of Tax

Changes in accumulated other comprehensive loss, net of tax, are as follows:

	(Dollars in Thousands)
	Pension and Postretirement Benefit Plans			Foreign Currency			Unamortized Value of Terminated Forward Starting Interest Rate Swap			Accumulated Other Comprehensive Loss
	Three Months Ended June 30, 2014
Balance at beginning of period	$	(44,267	)	$	4,816		$	(3,293	)	$	(42,744	)
Other comprehensive earnings before reclassifications, net of tax		(426	)		842			—			416
Amounts reclassified from accumulated other comprehensive loss, net of tax		8			—			179			187
Other comprehensive earnings, net of tax		(418	)		842			179			603
Balance at end of period	$	(44,685	)	$	5,658		$	(3,114	)	$	(42,141	)
	Three Months Ended June 30, 2013
Balance at beginning of period	$	(106,296	)	$	5,323		$	(3,975	)	$	(104,948	)
Other comprehensive loss before reclassifications, net of tax		(2,278	)		(1,169	)		—			(3,447	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		1,971			—			167			2,138
Other comprehensive earnings, net of tax		(307	)		(1,169	)		167			(1,309	)
Balance at end of period	$	(106,603	)	$	4,154		$	(3,808	)	$	(106,257	)

The other comprehensive loss before reclassifications for pension and postretirement benefit plans is net of tax of $276,000 and $1,490,000 for the three months ended June 30, 2014 and 2013, respectively.

	Pension and Postretirement Benefit Plans			Foreign Currency			Unamortized Value of Terminated Forward Starting Interest Rate Swap			Accumulated Other Comprehensive Loss
	Six Months Ended June 30, 2014
Balance at beginning of period	$	(44,549	)	$	3,902		$	(3,467	)	$	(44,114	)
Other comprehensive (loss ) earnings before reclassifications, net of tax		(430	)		1,756			—			1,326
Amounts reclassified from accumulated other comprehensive loss, net of tax		294			—			353			647
Other comprehensive earnings, net of tax		(136	)		1,756			353			1,973
Balance at end of period	$	(44,685	)	$	5,658		$	(3,114	)	$	(42,141	)
	Six Months Ended June 30, 2013
Balance at beginning of period	$	(108,189	)	$	6,157		$	(4,137	)	$	(106,169	)
Other comprehensive loss earnings before reclassifications, net of tax		(2,312	)		(2,003	)		—			(4,315	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		3,898			—			329			4,227
Other comprehensive earnings, net of tax		1,586			(2,003	)		329			(88	)
Balance at end of period	$	(106,603	)	$	4,154		$	(3,808	)	$	(106,257	)

Noncurrent Deferred Tax Assets Recorded in Accumulated Other Comprehensive Loss

Changes in net noncurrent deferred tax assets recorded in accumulated other comprehensive loss are as follows:

	(Dollars in Thousands)
	Pension and Postretirement Benefit Plans			Unamortized Value of Terminated Forward Starting Interest Rate Swap			Net Noncurrent Deferred Tax Assets
	Three Months Ended June 30, 2014
Balance at beginning of period	$	29,016		$	2,155		$	31,171
Tax effect of other comprehensive earnings		271			(116	)		155
Balance at end of period	$	29,287		$	2,039		$	31,326
	Three Months Ended June 30, 2013
Balance at beginning of period	$	69,641		$	2,600		$	72,241
Tax effect of other comprehensive earnings		201			(108	)		93
Balance at end of period	$	69,842		$	2,492		$	72,334
	Six Months Ended June 30, 2014
Balance at beginning of period	$	29,198		$	2,269		$	31,467
Tax effect of other comprehensive earnings		89			(230	)		(141	)
Balance at end of period	$	29,287		$	2,039		$	31,326
	Six Months Ended June 30, 2013
Balance at beginning of period	$	70,881		$	2,707		$	73,588
Tax effect of other comprehensive earnings		(1,039	)		(215	)		(1,254	)
Balance at end of period	$	69,842		$	2,492		$	72,334

Reclassification Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Affected line items in
	2014			2013			2014			2013			the consolidated financial statements
	(Dollars in Thousands)
Pension and postretirement benefit plans
Amortization of:
Prior service credit	$	(791	)	$	(695	)	$	(1,404	)	$	(1,403	)
Actuarial loss		804			3,955			1,889			7,852
		13			3,260			485			6,449		Cost of sales; Selling, general & administrative expenses
Tax effect		(5	)		(1,289	)		(191	)		(2,551	)	Deferred income taxes
	$	8		$	1,971		$	294		$	3,898
Unamortized value of terminated forward starting interest rate swap
Additional interest expense	$	295		$	275		$	583		$	544		Interest expense
Tax effect		(116	)		(108	)		(230	)		(215	)	Deferred income taxes
	$	179		$	167		$	353		$	329

Basic and Diluted Earnings per Common Share

The following table reconciles the numerator and denominator for basic and diluted earnings per common share:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014			2013
	(In Thousands)
Net earnings from continuing operations attributable to Martin Marietta Materials, Inc.	$	59,577		$	41,203	$	37,974		$	13,651
Less: Distributed and undistributed earnings attributable to unvested awards		246			197		154			182
Basic and diluted net earnings available to common shareholders from continuing operations attributable to Martin Marietta Materials, Inc.		59,331			41,006		37,820			13,469
Basic and diluted net (loss) earnings available to common shareholders from discontinued operations		(56	)		105		(70	)		(183	)
Basic and diluted net earnings available to common shareholders attributable to Martin Marietta Materials, Inc.	$	59,275		$	41,111	$	37,750		$	13,286
Basic weighted-average common shares outstanding		46,395			46,129		46,355			46,079
Effect of dilutive employee and director awards		134			131		122			138
Diluted weighted-average common shares outstanding		46,529			46,260		46,477			46,217

Parent

Comprehensive Earnings (Loss) Attributable

Comprehensive earnings attributable to Martin Marietta Materials, Inc. is as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014		2013			2014		2013
	(Dollars in Thousands)
Net earnings attributable to Martin Marietta Materials, Inc.	$	59,521	$	41,308		$	37,904	$	13,468
Other comprehensive earnings (loss), net of tax		603		(1,309	)		1,973		(88	)
Comprehensive earnings attributable to Martin Marietta Materials, Inc.	$	60,124	$	39,999		$	39,877	$	13,380

Noncontrolling Interest

Comprehensive Earnings (Loss) Attributable

Comprehensive earnings (loss) attributable to noncontrolling interests, consisting of net earnings or loss and adjustments for the funded status of pension and postretirement benefit plans, is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014			2013
	(Dollars in Thousands)
Net earnings (loss) attributable to noncontrolling interests	$	103	$	259	$	(1,432	)	$	(1,230	)
Other comprehensive earnings, net of tax		1		3		2			5
Comprehensive earnings (loss) attributable to noncontrolling interests	$	104	$	262	$	(1,430	)	$	(1,225	)