Business Segments

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Business Segments

11. Business Segments

The Building Materials business contains three reportable business segments: Mid-America Group, Southeast Group and West Group. The Company also has a Magnesia Specialties segment.  The Company’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-related expenses, net; other operating income and expenses, net; and exclude interest expense; other nonoperating income and expenses, net; and taxes on income. Corporate loss from operations primarily includes depreciation on capitalized interest; unallocated expenses for corporate administrative functions; acquisition-related expenses, net; and other nonrecurring income and expenses excluded from the Company’s evaluation of business segment performance and resource allocation. All debt and related interest expense is held at Corporate.

The following table displays selected financial data for the Company’s reportable business segments. The acquired Bluegrass operations are located in the Mid-America Group and Southeast Group.  Total revenues, as well as the consolidated statements of earnings and comprehensive earnings, exclude intersegment revenues which represent sales from one segment to another segment, which are eliminated. Prior-year information has been reclassified to conform to current year revenue presentation.  

11. Business Segments (continued)

	Three-Months Ended						Nine-Months Ended
	September 30,						September 30,
	2018			2017			2018			2017
	(Dollars in Thousands)
Total revenues:
Mid-America Group	$	377,005		$	308,472		$	906,377		$	788,390
Southeast Group		125,547			94,843			318,749			277,474
West Group		643,565			620,512			1,783,174			1,726,742
Total Building Materials Business		1,146,117			1,023,827			3,008,300			2,792,606
Magnesia Specialties		73,523			63,905			215,747			202,510
Total	$	1,219,640		$	1,087,732		$	3,224,047		$	2,995,116
Products and services revenues:
Mid-America Group	$	348,429		$	287,085		$	841,897		$	734,406
Southeast Group		121,661			91,427			308,306			266,690
West Group		603,763			584,086			1,672,707			1,620,632
Total Building Materials Business		1,073,853			962,598			2,822,910			2,621,728
Magnesia Specialties		68,365			59,889			201,390			189,918
Total	$	1,142,218		$	1,022,487		$	3,024,300		$	2,811,646
Earnings (Loss) from operations:
Mid-America Group	$	120,344		$	106,235		$	235,221		$	204,939
Southeast Group		26,372			17,882			60,464			42,331
West Group		92,090			96,522			249,885			270,246
Total Building Materials Business		238,806			220,639			545,570			517,516
Magnesia Specialties		23,301			17,590			65,867			58,589
Corporate		(21,445	)		(11,265	)		(67,741	)		(59,138	)
Total	$	240,662		$	226,964		$	543,696		$	516,967

	September 30, 2018		December 31, 2017		September 30, 2017
Assets employed:	(Dollars in thousands)
Mid-America Group	$	2,802,054	$	1,532,867	$	1,538,594
Southeast Group		1,300,090		616,344		604,144
West Group		5,032,662		5,014,231		5,032,103
Total Building Materials Business		9,134,806		7,163,442		7,174,841
Magnesia Specialties		141,998		152,257		148,581
Corporate		311,367		1,676,812		243,363
Total	$	9,588,171	$	8,992,511	$	7,566,785