v3.25.4
Revenues
 12 Months Ended
Dec. 31, 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 years ended December 31,
(In millions)
2025
2024
2023
Building Materials
Cement
$4,389
$4,481
$4,561
Aggregates and other construction materials
4,665
4,446
4,671
Interproduct revenues
(540)
(598)
(668)
Building Envelope
3,301
3,375
3,113
Total Revenues
$11,815
$11,704
$11,677
The following table disaggregates the Company’s revenues by geographic region based on customer location:
For the years ended December 31,
(In millions)
2025
2024
2023
Central
$3,623
$3,806
$3,592
South
3,529
3,165
3,291
Great Lakes
2,424
2,632
2,591
Northeast
1,879
1,939
1,964
Pacific
1,334
1,260
1,303
Eliminations and other(1)
(974)
(1,098)
(1,064)
Total Revenues
$11,815
$11,704
$11,677
__________
(1)Other includes revenues from the Company’s trading operations.
Contract assets include estimated earnings in excess of billings on uncompleted construction contracts. The
current portion of contract assets were $25 million, $30 million, and $24 million as of December 31, 2025,
2024 and 2023, respectively, and are included within Prepaid expenses and other current assets on the
consolidated balance sheets. The noncurrent portion of contract assets were $13 million, $15 million, and $2
million as of December 31, 2025, 2024 and 2023, respectively, and are included within Other noncurrent
assets on the 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 consolidated balance
sheets 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
(73)
(46)
Revenue deferred
110
138
Balance as of December 31,
$445
$408
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 December 31,
2025, the Company’s remaining performance obligations were $445 million. The Company expects to
recognize $44 million of the deferred revenue during the next twelve months, and the remaining $401 million
thereafter.