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Revenues
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
The Company primarily earns revenue from the sale of Building Materials products and Building Envelope
products. Revenue is disaggregated by product line, which the Company believes best depicts how the nature,
amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
The following table disaggregates revenues by product line for each of the Company’s reportable segments:
For the three months ended
June 30,
For the six months ended
June 30,
(In millions)
2025
2024
2025
2024
Building Materials
Cement
$1,177
$1,255
$1,918
$2,072
Aggregates and other construction materials
1,219
1,184
1,907
1,907
Interproduct revenues
(146)
(165)
(246)
(281)
Building Envelope
970
969
1,722
1,711
Total Revenues
$3,220
$3,243
$5,301
$5,409
Contract assets include estimated earnings in excess of billings on uncompleted construction contracts.
Contract assets were $59 million, $30 million, and $24 million as of June 30, 2025, December 31, 2024, and
December 31, 2023, respectively, and are included within Prepaid expenses and other current assets on the
condensed consolidated balance sheets.
Contract liabilities
Contract liabilities relate to payments received in advance of performance under a contract, primarily
related to extended service warranties in the Building Envelope segment. Contract liabilities are recognized as
revenue as (or when) the Company performs under the contract. Prior to the Spin-off, certain contract liability
balances were related-party in nature and are recorded in Due to related-party on the condensed consolidated balance
sheet as of December 31, 2024. The following table includes a summary of the change in contract liabilities:
(In millions)
2025
2024
Balance as of January 1
$408
$316
Revenue recognized
(57)
(25)
Revenue deferred
36
33
Balance as of June 30
$387
$324
The Company’s remaining performance obligations represent the transaction price allocated to performance
obligations that are unsatisfied or partially satisfied, consisting of deferred revenue. As of June 30, 2025, the
Company’s remaining performance obligations were $387 million. The Company expects to recognize $38 million
of the deferred revenue during the next twelve months, and the remaining $349 million thereafter.