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Segment information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment information | 20. Segment information During the fourth quarter of 2024, the Company's reportable segments changed to the following three segments: Americas Materials Solutions; Americas Building Solutions; and International Solutions The Americas Materials Solutions segment provides building materials for the construction and maintenance of public infrastructure and commercial and residential buildings in North America. The primary materials produced by this segment include aggregates, cement, readymixed concrete and asphalt. This segment also provides paving and construction services for customers. The Americas Building Solutions segment manufactures, supplies and delivers solutions for the built environment in communities across North America. Our subsidiaries within this segment offer building and infrastructure solutions serving complex critical infrastructure (such as water, energy, transportation and telecommunications projects) and outdoor living solutions for enhancing private and public spaces. The International Solutions segment provides integrated building solutions primarily across Europe and Australia. The business integrates materials, products, and services to provide complete building solutions for use in the construction and renovation of public infrastructure, critical networks, commercial and residential buildings and outdoor living spaces. The new segment structure reflects the nature of the financial information reported to and assessed by the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer, who are together determined to fulfil the role of CODM. Comparative segment information for 2023 and 2022 has been recast to reflect the change in segments. The principal factors employed in the identification of the three segments reflected in this note include: (i) the Company’s organizational structure in 2024 (during 2024 the Divisional President fulfilled the role of “segment manager”); (ii) the nature of the reporting lines to the CODM; and (iii) the structure of internal reporting documentation such as management accounts and budgets. The Company’s reportable segments are the same as the Company’s operating segments and correspond with how the CODM regularly reviews financial information to allocate resources and assess performance under the Company’s organizational structure. The CODM uses Adjusted EBITDA as part of their review of the monthly operating results on a segment basis. The CODM considers actual monthly results against the budget and the prior year as part of their assessment of the performance of the business and when making decisions regarding resource allocation. Given that Interest expense and Income tax expense are managed on a centralized basis, these items are not allocated between operating segments for the purposes of the information presented to the CODM and are accordingly omitted from the detailed segmental analysis below. There are no asymmetrical allocations to reporting segments which would require disclosure. Adjusted EBITDA is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, loss on impairments, gain/loss on divestitures and unrealized gain/loss on investments, income/loss from equity method investments, substantial acquisition-related costs and pension expense/income excluding current service cost component. The key performance measures and segment expenses for the Company’s reportable segments for the years ended December 31 were:
| 2024
in $ millions | Americas Materials Solutions | Americas Building Solutions | International Solutions | Total
Revenue | 16,173 | 7,059 | 12,340 | 35,572
Less: |  |  |  |
Labor | 3,493 | 1,447 | 2,389 | 7,329
Energy costs | 743 | 121 | 983 | 1,847
Other segment items (i) | 8,192 | 4,102 | 7,172 | 19,466
Adjusted EBITDA | 3,745 | 1,389 | 1,796 | 6,930
| 2023
in $ millions | Americas Materials Solutions | Americas Building Solutions | International Solutions | Total
Revenue | 15,435 | 7,017 | 12,497 | 34,949
Less: |  |  |  |
Labor | 3,274 | 1,306 | 2,264 | 6,844
Energy costs | 805 | 122 | 1,314 | 2,241
Other segment items (i) | 8,297 | 4,147 | 7,244 | 19,688
Adjusted EBITDA | 3,059 | 1,442 | 1,675 | 6,176
| 2022
in $ millions | Americas Materials Solutions | Americas Building Solutions | International Solutions | Total
Revenue | 14,324 | 6,188 | 12,211 | 32,723
Less: |  |  |  |
Labor | 3,009 | 1,097 | 2,119 | 6,225
Energy costs | 877 | 121 | 1,267 | 2,265
Other segment items (i) | 7,800 | 3,751 | 7,294 | 18,845
Adjusted EBITDA | 2,638 | 1,219 | 1,531 | 5,388
(i) The nature of other segment items is similar for each segment and primarily includes raw materials, haulage costs, subcontractor costs and other Selling, general and administrative expenses. As a result of our integrated building solutions model, the composition of other segment items is such that at a segment level none of these items is individually significant in determining segment performance.
in $ millions | 2024 | 2023 | 2022
Adjusted EBITDA | 6,930 | 6,176 | 5,388
Depreciation, depletion and amortization | (1,798) | (1,633) | (1,552)
Loss on impairments (i) | (161) | (357) | –
Interest income | 143 | 206 | 65
Interest expense | (612) | (376) | (344)
Gain (loss) on divestitures and unrealized gains on investments (ii) | 250 | – | (99)
Pension income excluding current service cost component (ii) | 7 | 3 | 30
Other interest, net (ii) | 1 | (5) | –
Substantial acquisition-related costs | (46) | – | (27)
Income from continuing operations before income tax expense and income from equity method investments | 4,714 | 4,014 | 3,461
(i) The total Loss on impairments comprised of $161 million and $295 million within International Solutions for the years ended December 31, 2024 and 2023, respectively and $62 million within Americas Materials Solutions for the year ended December 31, 2023. (ii) Gain (loss) on divestitures and unrealized gains on investments, pension income excluding current service cost component and other interest, net have been included in Other nonoperating income (expense), net in the Consolidated Statements of Income. Depreciation, depletion and amortization for each of the segments for the years ended December 31 were:
in $ millions | 2024 | 2023 | 2022
Depreciation, depletion and amortization |  |  |
Americas Materials Solutions | 846 | 781 | 777
Americas Building Solutions | 337 | 299 | 236
International Solutions | 615 | 553 | 539
Total depreciation, depletion and amortization | 1,798 | 1,633 | 1,552
The Gain (loss) on divestitures and unrealized gains on investments for each of the segments for the years ended December 31 were:
in $ millions | 2024 | 2023 | 2022
Gain (loss) on divestitures and unrealized gains on investments |  |  |
Americas Building Solutions | 1 | – | –
International Solutions | 249 | – | (99)
Total gain (loss) on divestitures and unrealized gains on investments | 250 | – | (99)
The segment assets at December 31 were:
in $ millions | 2024 | 2023 | 2022
Assets |  |  |
Americas Materials Solutions | 21,474 | 17,534 | 17,615
Americas Building Solutions | 9,049 | 7,961 | 7,749
International Solutions | 15,011 | 13,373 | 13,140
Total assets for reportable segments | 45,534 | 38,868 | 38,504
Cash and cash equivalents | 3,720 | 6,341 | 5,936
Restricted cash | 39 | – | –
Other current assets, excluding segment assets | 446 | 193 | 134
Equity method investments | 737 | 620 | 649
Assets held for sale | – | 1,268 | –
Other noncurrent assets, excluding segment assets | 137 | 179 | 96
Total assets as reported in the Consolidated Balance Sheets | 50,613 | 47,469 | 45,319
The segment liabilities at December 31 were:
in $ millions | 2024 | 2023 | 2022
Liabilities |  |  |
Americas Materials Solutions | 3,154 | 3,349 | 2,908
Americas Building Solutions | 1,769 | 1,770 | 1,567
International Solutions | 4,848 | 5,050 | 4,408
Total liabilities for reportable segments | 9,771 | 10,169 | 8,883
Other current liabilities, excluding segment liabilities | 163 | 156 | 193
Total debt | 13,968 | 11,642 | 9,636
Deferred income tax liabilities | 3,105 | 2,738 | 2,885
Liabilities held for sale | – | 375 | –
Other noncurrent liabilities, excluding segment liabilities | 756 | 768 | 682
Total liabilities as reported in the Consolidated Balance Sheets | 27,763 | 25,848 | 22,279
Additions to property, plant and equipment and intangible assets for each of the segments for the years ended December 31 were:
in $ millions | 2024 | 2023 | 2022
Property, plant and equipment and intangible asset additions (i) |  |  |
Americas Materials Solutions | 1,151 | 854 | 715
Americas Building Solutions | 480 | 360 | 259
International Solutions | 1,074 | 664 | 559
Total property, plant and equipment and intangible asset additions | 2,705 | 1,878 | 1,533
(i) Property, plant and equipment and intangible asset additions exclude asset retirement cost additions. Long-lived assets by geographic area at December 31 were:
in $ millions | 2024 | 2023 | 2022
Long-lived assets by geographical area (i) |  |  |
United Kingdom | 1,819 | 1,786 | 1,691
United States | 13,504 | 10,821 | 10,916
Other | 7,403 | 6,526 | 6,336
Total long-lived assets by geographical area | 22,726 | 19,133 | 18,943
(i) Long-lived assets comprise property, plant and equipment and operating lease right-of-use assets. Information about major customers There are no material dependencies or concentrations of individual customers that require disclosure. The individual entities within the Company have a large number of customers spread across various activities, end-users and geographies.

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- Definition The entire disclosure for reporting segments including data and tables. 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