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Revenue | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue | 2. Revenue The Company disaggregates revenue based on its operating and reportable segments. The Company’s reportable segments are: (1) Americas Materials Solutions, (2) Americas Building Solutions, (3) Europe Materials Solutions, and (4) Europe Building Solutions. Revenue is disaggregated by principal activities and products. Business lines are reviewed and evaluated as follows: (1) Essential Materials, (2) Road Solutions, (3) Building & Infrastructure Solutions, and (4) Outdoor Living Solutions. The vertically integrated Essential Materials businesses manufacture and supply aggregates and cement for use in a range of construction and industrial applications. Road Solutions support the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure. Building & Infrastructure Solutions connect, protect and transport critical water, energy and telecommunications infrastructure and deliver complex commercial building projects. Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.
| Three months ended June 30, 2024
in $ millions | Americas Materials Solutions | Americas Building Solutions | Europe Materials Solutions | Europe Building Solutions | Total
Principal activities and products |  |  |  |  |
Essential Materials | 1,312 | - | 1,207 | - | 2,519
Road Solutions (i) | 3,094 | - | 1,197 | - | 4,291
Building & Infrastructure Solutions (ii) | - | 680 | - | 528 | 1,208
Outdoor Living Solutions | - | 1,436 | - | 200 | 1,636
Total revenues | 4,406 | 2,116 | 2,404 | 728 | 9,654
| Three months ended June 30, 2023
in $ millions | Americas Materials Solutions | Americas Building Solutions | Europe Materials Solutions | Europe Building Solutions | Total
Principal activities and products |  |  |  |  |
Essential Materials | 1,255 | - | 1,381 | - | 2,636
Road Solutions (i) | 2,909 | - | 1,233 | - | 4,142
Building & Infrastructure Solutions (ii) | - | 679 | - | 596 | 1,275
Outdoor Living Solutions | - | 1,469 | - | 187 | 1,656
Total revenues | 4,164 | 2,148 | 2,614 | 783 | 9,709
| Six months ended June 30, 2024
in $ millions | Americas Materials Solutions | Americas Building Solutions | Europe Materials Solutions | Europe Building Solutions | Total
Principal activities and products |  |  |  |  |
Essential Materials | 2,215 | - | 2,197 | - | 4,412
Road Solutions (i) | 4,393 | - | 2,220 | - | 6,613
Building & Infrastructure Solutions (ii) | - | 1,228 | - | 1,021 | 2,249
Outdoor Living Solutions | - | 2,581 | - | 332 | 2,913
Total revenues | 6,608 | 3,809 | 4,417 | 1,353 | 16,187
| Six months ended June 30, 2023
in $ millions | Americas Materials Solutions | Americas Building Solutions | Europe Materials Solutions | Europe Building Solutions | Total
Principal activities and products |  |  |  |  |
Essential Materials | 2,062 | - | 2,478 | - | 4,540
Road Solutions (i) | 3,997 | - | 2,314 | - | 6,311
Building & Infrastructure Solutions (ii) | - | 1,248 | - | 1,159 | 2,407
Outdoor Living Solutions | - | 2,561 | - | 317 | 2,878
Total revenues | 6,059 | 3,809 | 4,792 | 1,476 | 16,136
(i) Revenue from contracts with customers in the Road Solutions principal activities and products category that is recognized over time was:
| Three months ended | Six months ended
| June 30 | June 30
in $ millions | 2024 | 2023 | 2024 | 2023
Americas Materials Solutions | 1,736 | 1,606 | 2,332 | 2,101
Europe Materials Solutions | 453 | 502 | 867 | 931
Total revenue from contracts with customers | 2,189 | 2,108 | 3,199 | 3,032
(ii) Revenue from contracts with customers in the Building & Infrastructure Solutions principal activities and products category that is recognized over time was:
| Three months ended | Six months ended
| June 30 | June 30
in $ millions | 2024 | 2023 | 2024 | 2023
Americas Building Solutions | 26 | 18 | 49 | 34
Europe Building Solutions | 131 | 152 | 263 | 301
Total revenue from contracts with customers | 157 | 170 | 312 | 335
Contract assets were $887 million, $716 million and $906 million and contract liabilities were $448 million, $439 million and $329 million, at June 30, 2024, December 31, 2023 and June 30, 2023, respectively. The Company recognized revenue of $339 million and $270 million for the six months ended June 30, 2024, and June 30, 2023, respectively, which was previously included in the contract liability balance at December 31, 2023 and December 31, 2022, respectively. Contract assets include unbilled revenue and retentions held by customers in respect of construction contracts at June 30, 2024, December 31, 2023 and June 30, 2023 amounting to $664 million and $223 million, $471 million and $245 million, and $723 million and $183 million, respectively. Unbilled receivables represent the estimated value of unbilled work for projects with performance obligations recognized over time. Retentions represent amounts that have been billed to customers but payment is withheld until final acceptance of the performance obligation by the customer. Retentions that have been billed, but are not due until completion of performance and acceptance by customers, are generally expected to be collected within one year. The Company applies the practical expedient and does not adjust any of its transaction prices for the time value of money. On June 30, 2024, the Company had $4,032 million of transaction price allocated to remaining performance obligations. The majority of open contracts at June 30, 2024 are expected to close and revenue to be recognized within 12 months of the balance sheet date.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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