Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Estimated Service Lives for Property Plant and Equipment

The estimated service lives for property, plant and equipment are as follows:

Class of Assets		Range of Service Lives
Buildings		5 to 20 years
Machinery & Equipment		2 to 20 years
Land Improvements		5 to 60 years

Components of Changes in Accumulated Other Comprehensive Loss and Related Cumulative Noncurrent Deferred Tax Assets

The components of the changes in accumulated other comprehensive loss and related cumulative noncurrent deferred tax assets are as follows:

	Pension and Postretirement Benefit Plans			Foreign Currency			Unamortized Value of Terminated Forward Starting Interest Rate Swap			Total
years ended December 31 (add 000)	2018
Accumulated other comprehensive loss at beginning of period	$	(128,802	)	$	(22	)	$	(280	)	$	(129,104	)
Other comprehensive loss before reclassifications, net of tax		(22,890	)		(2,052	)		—			(24,942	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		10,187			—			280			10,467
Other comprehensive (loss) earnings, net of tax		(12,703	)		(2,052	)		280			(14,475	)
Accumulated other comprehensive loss at end of period	$	(141,505	)	$	(2,074	)	$	—		$	(143,579	)

Cumulative noncurrent deferred tax assets at end of period	$	84,207		$	—		$	—		$	84,207

	2017
Accumulated other comprehensive loss at beginning of period	$	(128,373	)	$	(1,162	)	$	(1,152	)	$	(130,687	)
Other comprehensive (loss) earnings before reclassifications, net of tax		(8,062	)		1,140			—			(6,922	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		7,633			—			872			8,505
Other comprehensive (loss) earnings, net of tax		(429	)		1,140			872			1,583
Accumulated other comprehensive loss at end of period	$	(128,802	)	$	(22	)	$	(280	)	$	(129,104	)

Cumulative noncurrent deferred tax assets at end of period	$	79,938		$	—		$	178		$	80,116

	2016
Accumulated other comprehensive loss at beginning of period	$	(103,380	)	$	(264	)	$	(1,978	)	$	(105,622	)
Other comprehensive loss before reclassifications, net of tax		(31,678	)		(898	)		—			(32,576	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		6,685			—			826			7,511
Other comprehensive (loss) earnings, net of tax		(24,993	)		(898	)		826			(25,065	)
Accumulated other comprehensive loss at end of period	$	(128,373	)	$	(1,162	)	$	(1,152	)	$	(130,687	)

Cumulative noncurrent deferred tax assets at end of period	$	82,044		$	—		$	749		$	82,793

Reclassification Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss are as follows:

years ended December 31 (add 000)	2018			2017			2016			Affected line items in the consolidated statements of earnings
Pension and postretirement benefit plans
Special plan termination benefits	$	-		$	-		$	764
Settlement charge		2,936			21			115
Amortization of:
Prior service credit		(1,971	)		(1,430	)		(1,609	)
Actuarial loss		12,619			13,774			11,575
		13,584			12,365			10,845		Other nonoperating income, net
Tax effect		(3,397	)		(4,732	)		(4,160	)	Income tax expense (benefit)
Total	$	10,187		$	7,633		$	6,685
Unamortized value of terminated forward starting interest rate swap
Additional interest expense	$	458		$	1,443		$	1,367		Interest expense
Tax effect		(178	)		(571	)		(541	)	Income tax expense (benefit)
Total	$	280		$	872		$	826

Basic and Diluted Earnings Per Common Share

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

years ended December 31

(add 000)	2018		2017		2016
Net earnings attributable to Martin Marietta	$	469,998	$	713,342	$	425,386
Less: Distributed and undistributed earnings attributable to unvested participating securities		806		2,029		1,775
Basic and diluted net earnings attributable to common shareholders attributable to Martin Marietta	$	469,192	$	711,313	$	423,611

Basic weighted-average common shares outstanding		62,895		62,932		63,610
Effect of dilutive employee and director awards		252		285		251
Diluted weighted-average common shares outstanding		63,147		63,217		63,861