XML 49 R34.htm IDEA: XBRL DOCUMENT v3.24.2
SEGMENT INFORMATION (Tables)
3 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Financial Information Related to Operations by Segment

The following table sets forth certain financial information relating to our operations by segment. We do not allocate interest or taxes at the segment level; these costs are disclosed at the consolidated company level.

 

 

 

For the Three Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

 

(dollars in thousands)

 

Revenue

 

 

 

 

 

 

Cement

 

$

339,162

 

 

$

329,032

 

Concrete and Aggregates

 

 

64,815

 

 

 

70,453

 

Gypsum Wallboard

 

 

217,826

 

 

 

219,097

 

Recycled Paperboard

 

 

54,240

 

 

 

45,328

 

 

 

 

676,043

 

 

 

663,910

 

Less: Intersegment Revenue

 

 

(38,044

)

 

 

(35,266

)

Less: Joint Venture Revenue

 

 

(29,310

)

 

 

(27,123

)

 

 

$

608,689

 

 

$

601,521

 

 

 

 

For the Three Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

 

(dollars in thousands)

 

Intersegment Revenue

 

 

 

 

 

 

Cement

 

$

10,280

 

 

$

10,137

 

Concrete and Aggregates

 

 

3,777

 

 

 

3,038

 

Recycled Paperboard

 

 

23,987

 

 

 

22,091

 

 

 

$

38,044

 

 

$

35,266

 

Cement Sales Volume (M tons)

 

 

 

 

 

 

Wholly Owned

 

 

1,767

 

 

 

1,848

 

Joint Venture

 

 

180

 

 

 

165

 

 

 

 

1,947

 

 

 

2,013

 

 

 

 

 

 

 

For the Three Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

 

(dollars in thousands)

 

Operating Earnings

 

 

 

 

 

 

Cement

 

$

89,125

 

 

$

74,061

 

Concrete and Aggregates

 

 

2,980

 

 

 

7,034

 

Gypsum Wallboard

 

 

93,976

 

 

 

90,857

 

Recycled Paperboard

 

 

8,503

 

 

 

7,202

 

Sub-Total

 

 

194,584

 

 

 

179,154

 

Corporate General and Administrative Expense

 

 

(15,649

)

 

 

(11,679

)

Other Non-Operating Income (Loss)

 

 

2,683

 

 

 

213

 

Earnings Before Interest and Income Taxes

 

 

181,618

 

 

 

167,688

 

Interest Expense, net

 

 

(10,684

)

 

 

(12,239

)

Earnings Before Income Taxes

 

$

170,934

 

 

$

155,449

 

Cement Operating Earnings

 

 

 

 

 

 

Wholly Owned

 

$

81,409

 

 

$

70,902

 

Joint Venture

 

 

7,716

 

 

 

3,159

 

 

 

$

89,125

 

 

$

74,061

 

Capital Expenditures

 

 

 

 

 

 

Cement

 

$

18,794

 

 

$

18,368

 

Concrete and Aggregates

 

 

6,589

 

 

 

3,220

 

Gypsum Wallboard

 

 

3,280

 

 

 

11,028

 

Recycled Paperboard

 

 

3,561

 

 

 

3,268

 

Corporate and Other

 

 

904

 

 

 

115

 

 

 

$

33,128

 

 

$

35,999

 

Depreciation, Depletion, and Amortization

 

 

 

 

 

 

Cement

 

$

22,917

 

 

$

21,679

 

Concrete and Aggregates

 

 

4,530

 

 

 

5,031

 

Gypsum Wallboard

 

 

6,473

 

 

 

5,461

 

Recycled Paperboard

 

 

3,690

 

 

 

3,719

 

Corporate and Other

 

 

740

 

 

 

792

 

 

 

$

38,350

 

 

$

36,682

 

 

 

 

June 30,

 

 

March 31,

 

 

 

2024

 

 

2024

 

 

 

(dollars in thousands)

 

Identifiable Assets

 

 

 

 

 

 

Cement

 

$

2,121,374

 

 

$

2,042,499

 

Concrete and Aggregates

 

 

242,607

 

 

 

225,485

 

Gypsum Wallboard

 

 

429,773

 

 

 

432,122

 

Recycled Paperboard

 

 

167,405

 

 

 

170,832

 

Other, net

 

 

81,708

 

 

 

76,081

 

 

 

$

3,042,867

 

 

$

2,947,019

 

Segment Breakdown of Goodwill

The segment breakdown of Goodwill is as follows:

 

 

June 30,

 

 

March 31,

 

 

 

2024

 

 

2024

 

 

 

(dollars in thousands)

 

Cement

 

$

227,639

 

 

$

227,639

 

Concrete and Aggregates

 

 

40,774

 

 

 

40,774

 

Gypsum Wallboard

 

 

116,618

 

 

 

116,618

 

Recycled Paperboard

 

 

7,538

 

 

 

7,538

 

 

 

$

392,569

 

 

$

392,569

 

Summarized Financial Information for Joint Venture Unconsolidated

Summarized financial information for the Joint Venture that is not consolidated is set out below. This summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts:

 

 

For the Three Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

 

(dollars in thousands)

 

Revenue

 

$

58,620

 

 

$

54,246

 

Gross Margin

 

$

16,424

 

 

$

8,538

 

Earnings Before Income Taxes

 

$

15,548

 

 

$

6,364

 

 

 

 

June 30,

 

 

March 31,

 

 

 

2024

 

 

2024

 

 

 

(dollars in thousands)

 

Current Assets

 

$

123,487

 

 

$

111,164

 

Noncurrent Assets

 

$

172,875

 

 

$

158,618

 

Current Liabilities

 

$

49,102

 

 

$

27,994